350000000
0.0001
1.00
285000
2670000
19277000
0.55
228000
160000
492000
2398000
6921424
37.00
1421424
902794
0.75
0.20
94533802
1081000
196739000
0.315
1.00
0.685
513000
13000000
7000000
1.00
1653000
0.00125
402500000
3096812838
441009000
3658000
118208000
-6480000
-111186000
80685000
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558667000
425000
507000
17.37
806317
10404703000
5265000
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517033000
20681000
5590000
189478000
312412000
57020000
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83441000
8000
618700000
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11190000
315000
-636000
7440000
2144000
1060000
633000
921000
92361069
92361069
8226494000
350000000
20.49
4583432000
16.82
20.31
0.0001
2037895
8479261000
10584000
979000
907000
362000
2983000
34788000
212147000
6530000
1992000
7555000
536000
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-6747000
3539000
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24046000
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54625000
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24074000
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0
363000
363000
0
-979000
-979000
0
33257000
31487000
66798000
66798000
26451000
758000
27209000
26451000
758000
2054000
1000
1554000
2055000
500000
2054000
298157000
26451000
2180000
26451000
758000
104812000
20520000
84292000
8472000
43673000
33000
33257000
50000
22093000
33274000
11164000
33257000
16000
31487000
15000
28456000
31486000
3031000
31487000
94007000
66798000
26451000
758000
-6747000
-78539000
92361000
9000
908632000
1.00
1397000
5313000
4187000
2234000
177777000
3802000
365000
1844000
18288000
1387000
1735000
5224000
0.55
228000
194000
1938000
350000
3514000
-228000
-79000
446000
300000
64000
161000
0.685
513000
473000
9028000
43000
16833000
123000
576000
1123000
150000
2937000
607000
41739000
38771000
80510000
23646000
7867000
31513000
5050000
25016000
30066000
3181000
1982000
5163000
1038000
362000
25690000
447000
8474000
0
94515344
94515344
7433326000
350000000
23.20
5079091000
20.06
29.78
81.14
7716049
23.02
165454000
0.0001
2854955
7600296000
9742000
99000
540000
2463000
3179000
40268000
21870000
230402000
12170000
1344000
9122000
1339000
9000
-28053000
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7486000
1790000
26624000
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316181000
-801000
50255000
931808000
12192000
8976000
60841000
6601000
8324000
1530128000
48062000
51144000
1022586000
4115000
3254000
28012000
170522000
10074000
8487000
588578000
21413000
52000
8073000
663000
-27252000
4954000
292325000
7738000
7915000
493671000
56173000
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520844000
37302000
7029000
35285000
17913000
51494000
57447000
1545000
959000
19498000
63427000
849000
1451000
7057000
96441000
165680000
36038000
6816000
19686000
1530128000
36038000
-16305000
8774000
95989000
9132000
23189000
521641000
1082000
16621000
11772000
1900000
70456000
20922000
8053000
864945000
355164000
8042000
111489000
5654000
0.50
8960000
1649456
13187000
2
95283000
31566000
382000
1413000
304300000
2058000
21726000
4439000
4439000
0
4506000
4506000
0
-67000
-67000
0
353212000
3999000
1501000
140406000
1001000
523903000
520844000
1001000
2058000
183008000
183008000
183008000
10000000
2854955
21726000
247000
21726000
21479000
2058000
21726000
3999000
3999000
3999000
108316000
183008000
2492000
183008000
168726000
157164000
11562000
10000
1.00
5000000
7800000
1000
10167000
85116000
15000000
9385000
7000
353212000
752000
112642000
353957000
240570000
353212000
3999000
1501000
3000
1504000
1501000
1501000
45000
1001000
140406000
94000
52791000
140455000
87615000
140406000
1001000
706911000
520844000
184009000
2058000
-28053000
-62734000
94515000
9000
1022586000
178288000
0.20
9600000
1653000
65000
11647000
-17000
250000
23000
1643000
240000
3760000
1177000
25512000
32144000
57656000
13231000
8062000
21293000
8396000
21920000
30316000
923000
1301000
2224000
800000
663000
2463000
52.16
402500000
316181000
86319000
0.00125
402500000
316181000
90887000
1000
726000
1611000
26046000
11697000
396000
15722000
20932095
4124581
3475715
13952559
1920000
5500000
195300000
1461000
20000000
8500000
14000
284000
197820000
40000
2
2
8000
0.20
185037
0.4690
1756630000
P7Y1M6D
15.12
2881000
20885000
13.81
104362000
29.36
241517
0.0000
474695000
1658132
0.0065
P7Y1M6D
23.03
22.87
88259000
0.21
P6Y2M12D
30.18
0.5080
0.0141
3157000
3186491000
3177000
85378000
1702000
195347000
-1198000
492000
1198000
-2926000
-2450000
-4030000
48473000
129782000
51828000
-1297000
8226000
17291000
-878000
205470000
-99000
33821000
3220000
5964000
16389000
-4806000
13841000
29015000
1013000
3667000
-6017000
0
294661000
346489000
19616000
17686000
1211000
1790000
37887000
8226000
2926000
2506000
27817000
317000
-1455000
2093000
98000
21219000
58226000
112967000
54638000
98000
8226000
540000
-1006000
11668000
135130000
-1511000
-1191000
10155000
11724000
0
1959000
13399000
-2925000
198124000
252047000
1116000
1907000
2342000
566000
11081000
395000
-223372000
-395000
48473000
39138000
4771000
312668000
958000
5202000
75169000
-3348000
-395000
46679000
92527000
37887000
52949000
7733000
-483000
369000
381000
13000
2230000
1840000
195348000
-136000
625000
4000
3153000
P5Y6M26D
P5Y3M26D
211473000
310000
20719000
41231000
3300000
52222000
17544000
16820000
9515000
3064000
8488000
3939000
-1297000
17686000
5500000
1000
3420000
195347000
48472000
37887000
8226000
P9Y9M18D
192312000
28687000
197254000
370620000
4942000
-1900000
-1300000
P11Y
P3Y
P10Y
P2Y
P7Y9M18D
2003000
2398000
395000
P11Y
P3Y
P10Y
P1Y9M18D
P8Y8M12D
11470000
11533000
63000
P13Y
P3Y
P10Y
P7Y
980000
575000
838000
1397000
1342000
6050000
498000
686000
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>6. Accrued
Expenses</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The
Company’s accrued expenses are comprised of the following at
December 31, 2014 and 2013, respectively (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="74%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Compensation and related
benefits</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,413</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,700</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Gift cards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,654</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,090</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Contracting, consulting
and professional fees</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,254</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,494</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Taxes</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,954</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,425</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Marketing</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,115</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,197</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign exchange –
forward contracts</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">99</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">979</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Traveler guarantee
liability</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,790</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">956</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,976</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,784</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">50,255</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">54,625</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
Fair values are based on quoted market prices. Short-term
investments consisted of the following at December 31, 2014
and December 31, 2013 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="62%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="14" align="center"><b>December 31, 2014</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Gross<br />
Cost</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Gross<br />
Unrealized<br />
Gains</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Gross<br />
Unrealized<br />
Losses</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Estimated<br />
Fair<br />
Value</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Time deposits</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">21,726</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">21,726</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Corporate bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">353,957</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">7</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(752</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">353,212</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">140,455</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">45</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(94</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">140,406</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
International government bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,504</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(3</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,501</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Commercial paper</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,999</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,999</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Total short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">521,641</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">52</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(849</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">520,844</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="62%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="14" align="center"><b>December 31, 2013</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Gross<br />
Cost</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Gross<br />
Unrealized<br />
Gains</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Gross<br />
Unrealized<br />
Losses</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Estimated<br />
Fair<br />
Value</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Time deposits</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,055</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(1</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,054</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Corporate bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33,274</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(50</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33,257</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">31,486</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">16</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(15</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">31,487</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Total short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  66,815</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">49</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  (66</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  66,798</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>8.
Commitments and Contingencies</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Leases</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
leases its facilities and certain office equipment under
noncancellable operating leases. Future minimum lease payments
under noncancellable operating leases at December 31, 2014 are
as follows (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="84%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2015</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,073</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2016</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,487</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2017</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,324</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2018</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,486</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2019</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,601</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Thereafter</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,870</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total minimum lease
payments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">60,841</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table summarizes the total rental expense that the Company recorded
for the years ended December 31, 2014, 2013 and 2012 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Rental expense</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,994</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,202</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,492</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Guarantees</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
offers two guarantee products to travelers: Basic Rental Guarantee
and Carefree Rental Guarantee. The Basic Rental Guarantee is
offered to travelers that book a vacation rental property listed on
any one of the Company’s websites to protect their vacation
rental payments up to $1,000 against Internet fraud. Travelers may
also purchase additional protection to cover 100% of vacation
rental payments up to $10,000 against Internet fraud,
misrepresentation, wrongful denial of entry, wrongful deposit loss
or losses from phishing claims by the purchase of the Carefree
Rental Guarantee. The Company does not maintain insurance from any
third party for claims under these guarantees, and any amounts
payable for claims made under these guarantees are payable by the
Company. Amounts recorded for estimated future claims under the
guarantees are based on historical experience and estimates of
potential future claims are recorded either in cost of revenue or
in general and administrative expense in the Company’s
consolidated statement of operations depending on whether the
expense is related to estimated claims under the Basic Rental
Guarantee or to the Carefree Rental Guarantee.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Expected
future claims for traveler guarantees, which are presented as a
current liability in the Company’s consolidated balance
sheets, and changes for the guarantees are as follows (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="85%"></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Traveler guarantee
liability at December 31, 2012</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">566</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Costs accrued for new
vacation rentals</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,230</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Guarantee obligations
honored</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,840</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Traveler guarantee
liability at December 31, 2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">956</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Costs accrued for new
vacation rentals</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,576</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Guarantee obligations
honored</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,742</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Traveler guarantee
liability at December 31, 2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,790</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
maintains a guarantee of £5,000,000 (approximately $7,800,000
as of December 31, 2014) in favor of a bank in the United
Kingdom for extending credit to the Company in connection with the
wholly owned United Kingdom subsidiary’s business of
collecting its subscription revenue in advance via credit card
payments.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Legal</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">From time to
time, the Company is involved in litigation relating to claims
arising in the ordinary course of business. The Company assesses
its potential liability by analyzing specific litigation and
regulatory matters using available information. Views on estimated
losses are developed by management in consultation with inside and
outside counsel, which involves a subjective analysis of potential
results and outcomes, assuming various combinations of appropriate
litigation and settlement strategies. After taking all of the above
factors into account, the Company determines whether an estimated
loss from a contingency related to litigation should be accrued by
assessing whether a loss is deemed probable and can be reasonably
estimated. The Company further determines whether an estimated loss
from a contingency related to litigation should be disclosed by
assessing whether a material loss is deemed reasonably possible.
Such disclosures will include an estimate of the additional loss or
range of loss or will state that such an estimate cannot be
made.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Management
believes that there are no claims or actions pending or threatened
against the Company, the ultimate disposition of which would have a
material impact on the Company’s consolidated financial
position, results of operations or cash flows.</font></p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="51%"></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom" rowspan="2" nowrap="nowrap">
<p style="BORDER-BOTTOM: #000000 1px solid; WIDTH: 49pt">
<font style="FONT-FAMILY: Times New Roman" size="1"><b>(In
thousands)</b></font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" rowspan="2" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Par Value</b></font></td>
<td valign="bottom" rowspan="2"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" rowspan="2" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Equity<br />
Component<br />
Recorded<br />
at Issuance</b></font></td>
<td valign="bottom" rowspan="2"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Carrying Value of Convertible<br />
Senior Notes as of</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>December 31,<br />
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>December 31,<br />
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">0.125% Convertible Senior
Notes due April 1, 2019</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">402,500</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">90,887</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">(1)</sup></font><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">316,181</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr>
<td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(1)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">This amount represents the
equity component recorded at the initial issuance of the 0.125%
convertible senior notes.</font></td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>7.
Convertible Senior Notes</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Convertible Senior Notes</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="51%"></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom" rowspan="2" nowrap="nowrap">
<p style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; WIDTH: 49pt">
<font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>(In
thousands)</b></font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" rowspan="2" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Par Value</b></font></td>
<td valign="bottom" rowspan="2"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" rowspan="2" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Equity<br />
Component<br />
Recorded<br />
at Issuance</b></font></td>
<td valign="bottom" rowspan="2"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Carrying Value of Convertible<br />
Senior Notes as of</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,<br />
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,<br />
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.125% Convertible Senior
Notes due April 1, 2019</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">402,500</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">90,887</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">(1)</sup></font><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">316,181</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr>
<td valign="top" width="4%" align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">This amount represents
the equity component recorded at the initial issuance of the 0.125%
convertible senior notes.</font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In March
2014, the Company issued at par value $402.5 million of 0.125%
convertible senior notes (the “Notes”) due
April 1, 2019, unless earlier purchased by the Company or
converted. Interest is payable semi-annually, in arrears on
April 1 and October 1 of each year commencing
October 1, 2014.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Notes are
governed by an indenture between the Company, as issuer, and U.S.
Bank National Association, as trustee. The Notes are unsecured and
do not contain any financial covenants or any restrictions on the
payment of dividends, the incurrence of senior debt or other
indebtedness, or the issuance or repurchase of securities by the
Company.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">If converted,
holders will receive cash and/or shares of the Company’s
common stock, at the Company’s election. The Company’s
intent is to settle the principal amount of the Notes in cash upon
conversion. As a result, upon conversion of the Notes, only the
amounts payable in excess of the principal amounts of the Notes are
considered in diluted earnings per share under the treasury stock
method.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="49%"></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Conversion<br />
Rate per $1,000<br />
Par Value</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Initial<br />
Conversion<br />
Price per<br />
Share</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Free<br />
Convertibility Date</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.125% Senior
Notes</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">19.1703</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">52.16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">October 1, 2018</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Throughout
the term of the Notes, the conversion rate may be adjusted upon the
occurrence of certain events as described in the indenture
governing the Notes. Holders of the Notes will not receive any cash
payment representing accrued and unpaid interest upon conversion of
a Note. Accrued but unpaid interest will be deemed to be paid in
full upon conversion rather than cancelled, extinguished or
forfeited. Holders may convert their Notes under the following
circumstances:</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr>
<td width="4%"><font size="1"> </font></td>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">•</font></td>
<td valign="top" width="1%"><font size="1"> </font></td>
<td valign="top" align="left">
<p align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">during any calendar quarter commencing after June 30,
2014, if, for at least 20 trading days during the 30 consecutive
trading day period ending on the last trading day of the
immediately preceding calendar quarter, the last reported sales
price of the Company’s common stock for such trading day is
greater than or equal to 130% of the applicable conversion price
for the Notes on each applicable trading day;</font></p>
</td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr>
<td width="4%"><font size="1"> </font></td>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">•</font></td>
<td valign="top" width="1%"><font size="1"> </font></td>
<td valign="top" align="left">
<p align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">during the five business day period after any five consecutive
trading day period in which the trading price per $1,000 principal
amount of the Notes is less than 98% of the product of the sale
price of the Company’s common stock and the conversion
rate;</font></p>
</td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr>
<td width="4%"><font size="1"> </font></td>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">•</font></td>
<td valign="top" width="1%"><font size="1"> </font></td>
<td valign="top" align="left">
<p align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">upon the occurrence of specified corporate transactions
described under the indenture governing the Notes, such as a
consolidation, merger or binding share exchange; or</font></p>
</td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr>
<td width="4%"><font size="1"> </font></td>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">•</font></td>
<td valign="top" width="1%"><font size="1"> </font></td>
<td valign="top" align="left">
<p align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">at any time on or after October 1, 2018.</font></p>
</td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">As of
December 31, 2014, the Notes are not yet
convertible.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Holders of
the Notes have the right to require the Company to purchase with
cash all or a portion of the Notes upon the occurrence of a
fundamental change, such as a change of control, at a purchase
price equal to 100% of the principal amount of the Notes plus
accrued and unpaid interest. Following certain corporate
transactions that constitute a fundamental change, the Company will
increase the conversion rate for a holder who elects to convert the
Notes in connection with such make-whole fundamental
change.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In accounting
for the issuance of the Notes, the Company separated the Notes into
liability and equity components. The carrying amount of the
liability component was calculated by measuring the fair value of a
similar liability that does not have an associated convertible
feature. The carrying amount of the equity component representing
the conversion option was determined by deducting the fair value of
the liability component from the par value of the Notes as a whole.
The excess of the principal amount of the liability component over
its carrying amount (“debt discount”) is amortized to
interest expense over the term of the Notes. The equity component
is not re-measured as long as it continues to meet the conditions
for equity classification.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In accounting
for the transaction costs related to the Note issuance, the Company
allocated the total amount incurred to the liability and equity
components based on their relative values. Transaction costs
attributable to the liability component are being amortized to
expense over the term of the Notes, and transaction costs
attributable to the equity component were netted with the equity
component in stockholders’ equity. Additionally, the Company
recorded a deferred tax liability of $0.8 million in connection
with the Notes.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Notes
consist of the following (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="65%"></td>
<td valign="bottom" width="12%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="11%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,<br />
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,<br />
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Liability
component:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Principal:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.125% Senior
Notes</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">402,500</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Less: debt discount,
net</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.125% Senior
Notes</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(86,319</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net carrying
amount</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">316,181</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Notes are
included in the consolidated balance sheets within Convertible
senior notes, net, which are classified as a noncurrent liability.
The debt discount is amortized over the life of the Notes using the
effective interest rate method.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The total
estimated fair value of the Company’s Notes at
December 31, 2014 was $304.3 million. The fair value of the
Notes was determined based on inputs that are observable in the
market (Level 2).</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Based on the
closing price of the Company’s common stock of $29.78 on
December 31, 2014, the if-converted value of the Notes was
less than their principal amount.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Note
Hedges</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">To minimize
the impact of potential economic dilution upon conversion of the
Notes, the Company entered into convertible note hedge transactions
with respect to its common stock (the “Note
Hedges”).</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="51%"></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Date</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Purchase<br />
(in thousands)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Shares<br />
underlying Note<br />
Hedges</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Note Hedges</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">March 2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">85,853</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,716,049</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Note
Hedges cover shares of the Company’s common stock at a strike
price that corresponds to the initial conversion price of the
respective Notes, also subject to adjustment, and are exercisable
upon conversion of the Notes. The Note Hedges will expire upon the
maturity of the Notes. The Note Hedges are intended to reduce the
potential economic dilution upon conversion of the Notes in the
event that the market value per share of the Company’s common
stock, as measured under the Notes, at the time of exercise is
greater than the conversion price of the Notes. The Note Hedges are
separate transactions and are not part of the terms of the Notes.
Holders of the Notes will not have any rights with respect to the
Note Hedges.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Warrants</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="49%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Date</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Proceeds<br />
(in thousands)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Shares</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Strike<br />
Price</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Warrants</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">March 2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">38,278</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,716,049</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">81.14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Separately,
in March 2014, the Company also entered into warrant transactions
(the “Warrants”), whereby the Company sold warrants to
acquire, subject to anti-dilution adjustments, shares of the
Company’s common stock at $81.14 per share. The Warrants have
a term of five years from the date of issuance. If the average
market value per share of the Company’s common stock for the
reporting period, as measured under the Warrants, exceeds the
strike price of the Warrants, the Warrants would have a dilutive
effect on the Company’s earnings per share if the Company
reports net income. The Warrants were anti-dilutive for the year
ended December 31, 2014. The Warrants are separate
transactions, entered into by the Company and are not part of the
terms of the Notes or Note Hedges. Holders of the Notes will not
have any rights with respect to the Warrants.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Interest Expense</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table sets forth total interest expense recognized related to the
Notes for the years ended December 31, 2014, 2013 and 2012 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="73%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.125% coupon</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">378</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Amortization of debt
issuance costs</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">39</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Amortization of debt
discount</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,137</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,554</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
</div>
0.14
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Net Income Per Share Attributable to HomeAway,
Inc.</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Basic net income per share is computed by dividing net income
attributable to HomeAway, Inc. by the weighted average number of
common shares outstanding during the period. Diluted income per
share is computed by dividing net income attributable to HomeAway,
Inc. by the weighted average common shares outstanding plus
potentially dilutive common shares. The dilutive effect of
outstanding options, warrants and awards is reflected in diluted
earnings per share by application of the treasury stock method.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
Restricted stock awards provide the holder of unvested shares the
right to participate in dividends declared on the Company’s
common stock. Accordingly, these shares are included in the
weighted average shares outstanding for the computation of basic
earnings per share in periods of undistributed earnings. Restricted
stock awards are excluded from the basic earnings per share in
periods of undistributed losses as the holders are not
contractually obligated to participate in the losses of the
Company. Unvested restricted stock units do not provide the holder
the right to participate in dividends declared on the
Company’s common stock. Accordingly, these shares are
excluded in the weighted average shares outstanding for the
computation of basic earnings per share in periods of undistributed
earnings or losses.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>13. Net
Income Per Share Attributable to HomeAway, Inc.</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table sets forth the computation of basic and diluted net income
per share attributable to HomeAway, Inc. (in thousands except share
and per share amounts):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="67%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>Numerator</b></font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net income attributable
to HomeAway, Inc.</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,384</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">17,686</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">14,961</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>Denominator</b></font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Weighted average common
shares outstanding-basic</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">93,727</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">85,378</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">82,382</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Dilutive effect of stock
options, warrants and restricted stock units</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,754</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,881</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,560</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Weighted average common
shares outstanding-diluted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">96,481</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">88,259</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">84,942</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net income per share
attributable to HomeAway, Inc.:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Basic</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.21</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Diluted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
common equivalent shares were excluded from the calculation of net
income per share attributable to HomeAway, Inc. as their inclusion
would have been anti-dilutive (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="73%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Stock options</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,178</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,151</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Restricted stock
units</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">57</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Warrants</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,716</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total common equivalent
shares excluded</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9,951</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,157</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,158</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Goodwill and Intangible Assets</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Goodwill arises from business combinations and is measured as the
excess of the purchase consideration over the sum of the
acquisition-date fair values of tangible and identifiable
intangible assets acquired, less any liabilities assumed. The
Company uses estimates and assumptions to value assets acquired and
liabilities assumed at the acquisition date, and these estimates
are inherently uncertain and subject to refinement. As a result,
during the measurement period, which may be up to one year from the
acquisition date, adjustments to the assets acquired and
liabilities assumed are recorded with the corresponding offset to
goodwill. Upon the conclusion of the measurement period or final
determination of the values of assets acquired or liabilities
assumed, whichever comes first, any subsequent adjustments are
recorded to the consolidated statements of operations.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
Goodwill and intangible assets deemed to have indefinite useful
lives, such as certain trade names, are not amortized. Tests for
impairment of goodwill and indefinite-lived intangible assets are
performed on an annual basis or when events or circumstances
indicate that the carrying amount may not be recoverable.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
Circumstances that could trigger an impairment test outside of the
annual test include but are not limited to: a significant adverse
change in the business climate or legal factors, adverse cash flow
trends, an adverse action or assessment by a regulator,
unanticipated competition, loss of key personnel, decline in stock
price and the results of tests for recoverability of a significant
asset group. The Company determined that no triggering event
occurred during any of the periods presented.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
For goodwill and indefinite lived intangible assets, the Company
completes what is referred to as the “Step 0” analysis,
which involves evaluating qualitative factors, including
macroeconomic conditions, industry and market considerations, cost
factors, and overall financial performance related to its goodwill
and its indefinite lived intangible assets. If the Company’s
“Step 0” analysis indicates that it is more likely than
not that the fair value of a reporting unit or of an indefinite
lived intangible asset is less than its carrying amount, then the
Company would perform a quantitative two-step impairment test. The
quantitative analysis compares the fair value of the
Company’s reporting unit or indefinite-lived intangible
assets to its carrying amount, and an impairment loss is recognized
equivalent to the excess of the carrying amount over fair value.
If, after assessing the totality of events or circumstances, the
Company determines that it is more likely than not that the fair
value of a reporting unit or indefinite lived intangible asset
exceeds its carrying amount, then the quantitative impairment tests
are unnecessary.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The Company performs an evaluation of goodwill and indefinite-lived
intangible assets for impairment annually in the fourth quarter of
its fiscal year.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The determination of whether or not goodwill or indefinite-lived
intangible assets have become impaired involves a significant level
of judgment. Changes in the Company’s strategy and/or market
conditions could significantly impact these judgments and require
adjustments to recorded amounts of goodwill or intangible
assets.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
No impairment of goodwill or indefinite-lived intangible assets was
identified in any of the periods presented.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
Identifiable intangible assets consist of trade names, customer
listings, technology, domain names and contractual non-competition
agreements associated with acquired businesses. Intangible assets
with finite lives are amortized over their estimated useful lives
on a straight-line basis and reviewed for impairment whenever
events or changes in circumstances indicate that an asset’s
carrying value may not be recoverable (see Note 4). The
straight-line method of amortization represents the Company’s
best estimate of the distribution of the economic value of the
identifiable intangible assets.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
is a reconciliation of the amount of the income tax expense that
results from applying the federal statutory income tax rate to
income before income taxes to the reported income tax expense (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="65%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"> <font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Federal tax expense at
statutory rate</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,433</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,155</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9,848</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">State taxes, net of
federal tax benefit</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(552</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">958</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">647</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign tax rate
differential</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,166</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,191</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,481</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred
charges</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,908</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,959</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,582</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Stock
compensation</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,430</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">566</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,679</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Research and development
credit</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,346</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(3,220</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Tax basis in Spanish
intangibles</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,770</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Non-deductible
expenses</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">331</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,342</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">355</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other activity in
unrecognized tax benefits</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">816</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">540</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,325</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(43</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">98</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,198</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net increase (decrease)
in valuation allowance</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,231</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(483</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">418</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,272</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,724</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,175</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div><br class="Apple-interchange-newline" />
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr style="FONT-SIZE: 1pt">
<td height="16" colspan="12"></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Identifiable long-lived
tangible assets:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">United States</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">85,116</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">43,673</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">32,936</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">International</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,167</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,472</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,431</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total identifiable
long-lived tangible assets</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">95,283</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">52,145</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">40,367</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
 </p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The fair
value of stock option grants has been estimated at the date of
grant using the Black–Scholes option pricing model with the
following weighted average assumptions:</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="31%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="5" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Risk-free interest
rate</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1.62% to 1.78%</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.65% to 1.41%</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.78% to 1.32%</font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Expected term</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4.93 to 5.10 years</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5.32 to 5.57 years</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5.59 to 5.83 years</font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Dividend yield</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.00%</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.00%</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.00%</font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Expected
volatility</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">38.70% to 42.50%</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">46.90% to 50.80%</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">50.60% to 55.40%</font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
251599
0.3870
972865000
P6Y9M18D
15.84
10-K
HOMEAWAY INC
Yes
AWAY
2754000
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Advertising Expenses</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
The Company expenses all advertising costs as incurred. Advertising
expenses included in sales and marketing expenses were
approximately $59,978,000, $39,138,000 and $37,559,000 for the
years ended December 31, 2014, 2013 and 2012,
respectively.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Comprehensive Income (Loss) Attributable to HomeAway,
Inc.</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Comprehensive income (loss) attributable to HomeAway, Inc. consists
of net income (loss), cumulative foreign currency translation
adjustments, unrealized gain (loss) on available-for-sale
securities and comprehensive income (loss) attributable to
noncontrolling interests.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following table summarizes the basis used to measure certain
financial assets at fair value on a recurring basis in the
Company’s consolidated balance sheets at December 31,
2014 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="51%"></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Balance as of</b><br />
<b>December 31,</b><br />
<b>2014</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Quoted Prices in<br />
Active Markets<br />
for Identical<br />
Assets (Level 1)</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Significant Other<br />
Observable<br />
Inputs (Level 2)</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Significant<br />
Unobservable<br />
Inputs<br />
(Level 3)</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
<b>Assets</b></p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Cash equivalents</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Money market funds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">183,008</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">183,008</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,001</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,001</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total cash equivalents</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">184,009</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">183,008</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,001</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Restricted cash</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Time deposits</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,058</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,058</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total restricted cash</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,058</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,058</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Certificates of deposit</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">21,726</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">21,726</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Corporate bonds</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">353,212</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">353,212</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">140,406</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">140,406</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
International government bonds</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,501</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,501</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Commercial paper</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,999</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,999</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">520,844</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">520,844</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total financial assets</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">706,911</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">183,008</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">523,903</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%">
The following table summarizes the basis used to measure certain
financial assets at fair value on a recurring basis in the
Company’s consolidated balance sheets at December 31,
2013 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="50%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Balance as of<br />
December 31,<br />
2013</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Quoted Prices in<br />
Active Markets<br />
for Identical<br />
Assets (Level 1)</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Significant Other<br />
Observable<br />
Inputs (Level 2)</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Significant<br />
Unobservable<br />
Inputs<br />
(Level 3)</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
<b>Assets</b></p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Cash equivalents</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Money market funds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">26,451</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">26,451</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total cash equivalents</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">26,451</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">26,451</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Restricted cash</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Money market funds</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">758</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">758</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total restricted cash</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">758</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">758</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Time deposits</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,054</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,054</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Corporate bonds</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33,257</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33,257</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">31,487</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">31,487</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">66,798</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">66,798</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total financial assets</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">94,007</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">27,209</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">66,798</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>4.
Goodwill and Other Intangible Assets</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Goodwill</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Changes in
the Company’s goodwill balance for the years ended
December 31, 2014 and 2013 are summarized in the table below
(in thousands).</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="83%"></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance at
December 31, 2012</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">312,412</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Acquired in business
combinations</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">198,124</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign currency
translation adjustment</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,925</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance at
December 31, 2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">507,611</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Acquired in business
combinations</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,647</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign currency
translation adjustment</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(26,098</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Post-acquisition goodwill
adjustment for the Stayz acquisition</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">511</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance at
December 31, 2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">493,671</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Pursuant to
its goodwill and intangible assets accounting policy, the Company
records goodwill adjustments for the effect on goodwill of changes
to net assets and liabilities acquired during the measurement
period (up to one year from the date of an acquisition). The
goodwill arising from the Stayz acquisition was increased by
$511,000 up to $178,288,000 due to certain income taxes and changes
in fair value estimates derived from additional information gained
during the measurement period. Goodwill adjustments were not
significant to the Company’s previously reported operating
results or financial position. Therefore, the Company elected not
to retrospectively adjust the acquisition date accounting and
instead recorded the adjustment in the year ended December 31,
2014.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Intangible Assets</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The
Company’s intangible assets, excluding goodwill, consist of
intangible assets acquired primarily in business combinations and
were recorded at their estimated fair values on the date of
acquisition. The finite-lived intangible assets that are being
amortized are summarized in the table below (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="39%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom" colspan="2"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Useful Life<br />
(Years)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Gross<br />
Carrying<br />
Amount</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Accumulated<br />
Amortization</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Net<br />
Carrying<br />
Amount</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Gross<br />
Carrying<br />
Amount</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Accumulated<br />
Amortization</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Net<br />
Carrying<br />
Amount</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Trade names and
trademarks</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">30,316</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(8,396</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,920</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">30,066</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(5,050</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">25,016</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Developed
technology</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2-8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,293</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(13,231</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,062</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">31,513</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(23,646</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,867</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Customer
relationships</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6-14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">57,656</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(25,512</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">32,144</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">80,510</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(41,739</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">38,771</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Noncompete agreements and
domain names</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2-5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,224</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(923</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,301</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,163</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(3,181</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,982</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">111,489</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(48,062</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">63,427</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">147,252</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(73,616</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">73,636</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Amortization
of noncompete agreements is recorded over the term of the
agreements.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table summarizes the amortization expense that the Company recorded
for the years ended December 31, 2014, 2013 and 2012 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="67%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Amortization
expense</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,916</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,668</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">12,438</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Expected
future annual amortization expense for definite-lived intangible
assets as of December 31, 2014 is as follows (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="84%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2015</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,772</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2016</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9,132</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2017</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,042</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2018</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,738</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2019</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,057</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Thereafter</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">19,686</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">63,427</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
has the following indefinite-lived intangible assets recorded in
its consolidated balance sheets as of December 31, 2014 and
2013, respectively (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="76%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Trademarks, trade names
and other</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,029</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,029</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Income Taxes</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
The Company recognizes income taxes using an asset and liability
approach. This approach requires the recognition of deferred tax
liabilities and assets for the future tax consequences of events
that have been recognized in the Company’s consolidated
financial statements or tax returns. The measurement of deferred
taxes is based on provisions of the enacted tax law and the effects
of future changes in tax laws or rates are not anticipated. A
valuation allowance is recognized if, based on the weight of
available evidence, it is more likely than not that some portion or
all of the deferred tax asset will not be realized. Evaluating the
need for an amount of a valuation allowance for deferred tax assets
requires significant judgment and analysis of the positive and
negative evidence available, including past operating results,
estimates of future taxable income, reversals of existing taxable
temporary differences and the feasibility of tax planning in order
to determine whether all or some portion of the deferred tax assets
will not be realized. Based on the available evidence and judgment,
the Company has determined that it is more likely than not that
certain loss carryforwards will not be realized; therefore, the
Company has established a valuation allowance for such deferred tax
assets to reduce the loss carryforward assets to amounts expected
to be utilized.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The Company may be subject to income tax audits by the respective
tax authorities in any or all of the jurisdictions in which the
Company operates. The Company is currently undergoing an audit in
the United States as well as at its subsidiary in the United
Kingdom. Significant judgment is required in determining uncertain
tax positions. The Company recognizes the benefit of uncertain
income tax positions only if these positions are more likely than
not to be sustained. Also, the recognized income tax benefit is
measured at the largest amount that is more than 50% likely of
being realized. The Company adjusts these reserves in light of
changing facts and circumstances, such as the closing of an audit
or the refinement of an estimate. Changes in recognition or
measurement are reflected in the period in which the change in
judgment occurs. The Company records interest and penalties related
to unrecognized tax benefits as a component of income tax expense.
The countries in which the Company may be subject to potential
examination by tax authorities include Australia, Brazil, Colombia,
France, Germany, Italy, the Netherlands, New Zealand, Singapore,
Spain, Switzerland, Thailand, the United Kingdom and the United
States.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The calculation of the Company’s tax liabilities involves the
inherent uncertainty associated with the application of complex tax
laws. As a multinational corporation, the Company conducts its
business in many countries and is subject to taxation in many
jurisdictions. The taxation of the Company’s business is
subject to the application of various and sometimes conflicting tax
laws and regulations as well as multinational tax conventions. The
Company’s effective tax rate is highly dependent upon the
geographic distribution of its worldwide earnings or losses, the
tax regulations and tax rates in each geographic region, the
availability of tax credits and carryforwards, and the
effectiveness of its tax planning strategies. The application of
tax laws and regulations is subject to legal and factual
interpretation, judgment and uncertainty. Tax laws themselves are
subject to change as a result of changes in fiscal policy, changes
in legislation, and the evolution of regulations and court rulings.
Consequently, taxing authorities may impose tax assessments or
judgments against the Company that could materially impact its tax
liability and/or its effective income tax rate. The Company
believes it has adequately provided in its financial statements for
additional taxes that it estimates may be assessed by the various
taxing authorities. While the Company believes that it has
adequately provided for all uncertain tax positions, amounts
asserted by tax authorities could be greater or less than the
Company’s accrued position. These tax liabilities, including
the interest and penalties, are adjusted pursuant to a settlement
with tax authorities, completion of audit, refinement of estimates
or expiration of various statutes of limitation.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 0pt">
<b><i>Short-term Investments</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Short-term investments generally consist of marketable securities
that have original maturities greater than ninety days as of the
date of purchase. Investments in which the Company has the ability
and intent, if necessary, to liquidate in order to support its
current operations, including those with contractual maturities
greater than one year from the date of purchase, are classified as
short-term. The Company’s investment securities are
classified as available-for-sale and are presented at estimated
fair value with any unrealized gains and losses included in other
comprehensive income (loss).</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
Cash flows from purchases, sales and maturities of
available-for-sale securities are classified as cash flows from
investing activities and reported gross, including any related
premiums or discounts. Premiums related to purchases of
available-for-sale securities were $13,187,000 and $8,065,000
during the year ended December 31, 2014 and 2013,
respectively. Fair values are based on quoted market prices.
Short-term investments consisted of the following at
December 31, 2014 and December 31, 2013 (in
thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="62%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="14" align="center"><b>December 31, 2014</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Gross<br />
Cost</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Gross<br />
Unrealized<br />
Gains</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Gross<br />
Unrealized<br />
Losses</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Estimated<br />
Fair<br />
Value</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Time deposits</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">21,726</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">21,726</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Corporate bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">353,957</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">7</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(752</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">353,212</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">140,455</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">45</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(94</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">140,406</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
International government bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,504</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(3</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,501</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Commercial paper</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,999</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,999</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Total short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">521,641</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">52</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(849</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">520,844</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="62%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="14" align="center"><b>December 31, 2013</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Gross<br />
Cost</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Gross<br />
Unrealized<br />
Gains</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Gross<br />
Unrealized<br />
Losses</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Estimated<br />
Fair<br />
Value</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Time deposits</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,055</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(1</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,054</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Corporate bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33,274</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(50</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33,257</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">31,486</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">16</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(15</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">31,487</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Total short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  66,815</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">49</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  (66</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  66,798</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
For fixed income securities that have unrealized losses as of
December 31, 2014, the Company does not have the intent to
sell any of these investments and it is not more likely than not
that it will be required to sell any of these investments before
recovery of the entire amortized cost basis. The Company has
evaluated these fixed income securities and determined that no
credit losses exist. Accordingly, the Company has determined that
the unrealized losses on fixed income securities as of
December 31, 2014 were temporary in nature.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following table summarizes the contractual underlying
maturities of the Company’s short-term investments at
December 31, 2014 and December 31, 2013 (in
thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" align="center"><b>December 31, 2014</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Less than<br />
1 Year</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>1 to 3 Years</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Total</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Time deposits</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">21,479</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">247</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">21,726</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Corporate bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">240,570</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">112,642</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">353,212</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">87,615</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">52,791</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">140,406</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
International government bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,501</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,501</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Commercial paper</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,999</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,999</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Total short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">355,164</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">165,680</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">520,844</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" align="center"><b>December 31, 2013</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Less than<br />
1 Year</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>1 to 3 Years</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Total</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Time deposits</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">500</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">1,554</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,054</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Corporate bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">11,164</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">22,093</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33,257</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,031</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">28,456</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">31,487</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Total short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  14,695</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  52,103</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  66,798</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<i>Non-marketable Cost Investment</i></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
During the year ended December 31, 2014, the Company invested
an additional $9,385,000 for a non-controlling equity interest in a
privately-held company in China. As of December 31, 2014, the
total carrying value of the Company’s investment in the
privately-held company was $19,498,000. Also during 2014, the
Company invested $15,000,000 for a non-controlling equity interest
in a privately-held company in the United States that operates a
travel research application and website.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The Company’s investment in these privately-held companies is
reported using the cost method of accounting or marked down to fair
value when an event or circumstance indicates an
other-than-temporary decline in value has occurred. No event or
circumstance indicating an other-than-temporary decline in value of
the Company’s interest in the non-marketable cost investments
was identified. These investments are recorded in other non-current
assets on the consolidated balance sheets.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Accounts Receivable</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Accounts receivable are generated from several sources. Amounts due
from credit card merchants who process the Company’s credit
card sales from property listings and remit the proceeds to the
Company are the primary source of accounts receivable. Accounts
receivable are also generated from Internet display advertising
amounts due in the ordinary course of business as well as amounts
due to the Company for property listings, other products purchased
on account or amounts due from partners who provide products and
services such as advertising the properties of our property owners
and managers on their websites, insurance products and payment
processing services. Accounts receivable outstanding longer than
the contractual payment terms are considered past due. The Company
determines its allowance for doubtful accounts by estimating losses
on receivables based on known troubled accounts and historical
experiences of losses incurred.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
common equivalent shares were excluded from the calculation of net
income per share attributable to HomeAway, Inc. as their inclusion
would have been anti-dilutive (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="73%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Stock options</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,178</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,153</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,151</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Restricted stock
units</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">57</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Warrants</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,716</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total common equivalent
shares excluded</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9,951</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,157</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,158</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Changes in
the Company’s goodwill balance for the years ended
December 31, 2014 and 2013 are summarized in the table below
(in thousands).</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="83%"></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance at
December 31, 2012</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">312,412</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Acquired in business
combinations</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">198,124</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign currency
translation adjustment</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,925</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance at
December 31, 2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">507,611</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Acquired in business
combinations</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,647</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign currency
translation adjustment</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(26,098</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Post-acquisition goodwill
adjustment for the Stayz acquisition</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">511</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance at
December 31, 2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">493,671</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Income before
income taxes includes the following components
(in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="67%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Domestic</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">15,523</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">27,817</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">19,934</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,716</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,198</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,202</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,239</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">29,015</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">28,136</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">A summary of
the Company’s stock option activity under all Plans is as
follows:</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="51%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Number of<br />
Options<br />
Outstanding</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Weighted<br />
Average<br />
Exercise<br />
Price</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Weighted<br />
Average<br />
Remaining<br />
Contractual<br />
Term</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Aggregate<br />
Intrinsic<br />
Value</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" colspan="2"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" colspan="2"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>(years)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>(in thousands)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Outstanding at
December 31, 2012</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,404,703</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">17.37</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7.5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">57,020</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Granted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,756,630</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">30.18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Exercised</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(3,186,491</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">15.12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Forfeited</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(474,695</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">22.87</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Cancelled</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(20,885</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">23.03</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Outstanding at
December 31, 2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,479,261</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">20.49</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7.1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">172,921</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Granted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">972,865</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">35.50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Exercised</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,615,116</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">15.84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Forfeited</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(236,714</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">26.66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Cancelled</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Outstanding at
December 31, 2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,600,296</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">23.20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6.8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">57,663</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Vested and expected to
vest</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">At December 31,
2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,226,494</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">20.31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7.1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">169,248</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">At December 31,
2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,433,326</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">23.02</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6.8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">57,447</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Exercisable
options</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">At December 31,
2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,583,432</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16.82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6.2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">110,286</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">At December 31,
2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,079,091</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">20.06</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6.1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">51,494</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>14.
Domestic and Foreign Operations</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
has operations in domestic and foreign regions, specifically in
Europe, South America and the Asia Pacific region. Information
about these operations is presented below (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="61%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Revenue:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">United States</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">262,412</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">211,473</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">173,078</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">France</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">59,306</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">52,222</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">42,451</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">United Kingdom</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">48,996</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">41,231</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">35,656</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Australia</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">25,888</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,300</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,141</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Germany</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">24,410</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">20,719</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,194</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other
international</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">25,750</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">17,544</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,884</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total revenue</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">446,762</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">346,489</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">280,404</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="16"></td>
<td height="16" colspan="12"></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Identifiable long-lived
tangible assets:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">United States</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">85,116</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">43,673</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">32,936</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">International</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,167</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,472</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,431</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total identifiable
long-lived tangible assets</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">95,283</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">52,145</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">40,367</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Revenue
attributed to the U.S. and international geographies are based upon
the country in which the selling subsidiary of the Company is
located.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Identifiable
long-lived assets attributed to the U.S. and international
geographies are based upon the country in which the asset is
located or owned.</font></p>
</div>
13.46
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>9.
Stockholders’ Equity and Stock-Based
Compensation</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Common
Stock</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The
Company’s amended and restated certificate of incorporation,
as amended in July 2011, authorizes 350,000,000 shares of common
stock with a par value of $0.0001 per share. At December 31,
2014 and December 31, 2013, there were 94,515,344 and
92,361,069 shares of common stock issued and outstanding,
respectively. Additionally, the amended certificate of
incorporation authorizes the Company’s board of directors,
without action by stockholders, to designate and issue up to
10,000,000 shares of preferred stock in one or more series. The
board of directors may also designate the rights, preferences and
privileges of each series of preferred stock, any or all of which
may be greater than the rights of the common stock.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Follow-on Offering</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">On
December 17, 2013, the Company closed a follow-on offering of
6,921,424 shares of its common stock, at $37.00 per share, before
underwriting discounts and commissions. The Company sold 5,500,000
shares and existing stockholders sold an aggregate of 1,421,424
shares, including 902,794 shares as a result of the
underwriters’ exercise of their over-allotment option to
purchase additional shares. The offering generated net proceeds to
the Company of approximately $195.3 million, after deducting
underwriting discounts and other expenses incurred by the Company
for the sale of common stock. The offer and sale of all of the
shares in the offering were registered under the Securities Act
pursuant to a registration statement on Form S-3 ASR, which became
automatically effective on December 12, 2013. The Company did
not receive any proceeds from the sale of shares by the selling
stockholders.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Stock
Compensation Plans</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
maintains two stock-based compensation plans, the 2004 Stock Option
Plan (the “2004 Plan”) and the 2011 Equity Incentive
Plan (the “2011 Plan”), which are described
below.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><i>2004
Plan</i></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">At
December 31, 2014, there were 3,475,715 options outstanding
under the 2004 Plan. Following the effectiveness of the
Company’s 2011 Plan in May 2011, no further awards have been
made under the 2004 Plan, although each option previously granted
under the 2004 Plan will remain outstanding subject to its terms.
Any such shares of common stock that are subject to awards under
the 2004 Plan which are forfeited or lapse unexercised and would
otherwise have been returned to the share reserve under the 2004
Plan instead will be available for issuance under the 2011
Plan.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><i>2011
Plan</i></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In May 2011,
the Company adopted the 2011 Plan, providing for the granting of
incentive stock options, as defined by the Internal Revenue Code,
to employees and for the grant of non-statutory stock options,
stock appreciation rights, restricted stock, restricted stock
units, performance units and performance shares to employees,
directors and consultants. The 2011 Plan also provides for the
automatic grant of option awards to our non-employee directors.
Shares of common stock reserved for issuance under the 2011 Plan
consist of 20,932,095 shares of common stock. In addition, the
number of shares available for issuance under the 2011 Plan will be
increased annually on the first day of the Company’s fiscal
year by an amount equal to the least of (a) four percent of
the outstanding shares of the Company’s common stock as of
the last day of the Company’s immediately preceding fiscal
year or (b) such other amount as the Company’s board of
directors may determine. At December 31, 2014, there were
4,124,581 options and 2,854,955 restricted stock units outstanding
under the 2011 Plan.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><i>Stock
Option Activity</i></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">A summary of
the Company’s stock option activity under all Plans is as
follows:</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="51%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Number of<br />
Options<br />
Outstanding</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Weighted<br />
Average<br />
Exercise<br />
Price</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Weighted<br />
Average<br />
Remaining<br />
Contractual<br />
Term</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Aggregate<br />
Intrinsic<br />
Value</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" colspan="2"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" colspan="2"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>(years)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>(in thousands)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Outstanding at
December 31, 2012</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,404,703</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">17.37</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7.5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">57,020</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Granted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,756,630</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">30.18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Exercised</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(3,186,491</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">15.12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Forfeited</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(474,695</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">22.87</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Cancelled</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(20,885</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">23.03</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Outstanding at
December 31, 2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,479,261</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">20.49</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7.1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">172,921</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Granted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">972,865</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">35.50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Exercised</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,615,116</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">15.84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Forfeited</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(236,714</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">26.66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Cancelled</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Outstanding at
December 31, 2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,600,296</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">23.20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6.8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">57,663</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Vested and expected to
vest</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">At December 31,
2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,226,494</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">20.31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7.1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">169,248</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">At December 31,
2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,433,326</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">23.02</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6.8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">57,447</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Exercisable
options</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">At December 31,
2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,583,432</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16.82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6.2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">110,286</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">At December 31,
2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,079,091</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">20.06</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6.1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">51,494</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
issues shares from the 2004 Plan and the 2011 Plan reserves upon
the exercise of stock options. Shares of common stock reserved and
available for future stock option grants under the 2011 Plan were
13,952,559 shares at December 31, 2014.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
received $25,386,000 and $48,473,000 in cash from option exercises
under the respective Plans in 2014 and 2013, respectively. The
Company issued shares from amounts reserved under the respective
Plans upon the exercise of these stock options. The Company does
not currently expect to repurchase shares from any source to
satisfy such obligation under any of the Company’s stock
option Plans. The Company recognized a tax benefit of approximately
$2,743,000, $8,226,000 and $7,122,000 from the exercise of stock
options during the years ended December 31, 2014, 2013 and
2012, respectively. These tax benefits have been recorded in
additional paid-in capital on the Company’s consolidated
balance sheet as of December 31, 2014 and 2013.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The weighted
average grant date fair value of the options and restricted stock
are summarized as follows:</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Per share of options
granted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13.46</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13.81</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">12.07</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Per share of restricted
stock and restricted stock units granted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">36.33</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">29.36</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">24.88</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The aggregate
intrinsic value of stock options exercised, represented in the
stock option activity table above, was approximately $39,140,000,
$52,949,000 and $40,394,000 during the years ended
December 31, 2014, 2013 and 2012, respectively.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">During 2014,
1,649,456 stock options vested with a weighted average grant date
fair market value of $12.05 per share.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><i>Restricted
Stock Activity</i></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">A summary of
the Company’s restricted stock activity under the 2004 Plan
and 2011 Plan is as follows:</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="81%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Number of<br />
Awards<br />
Outstanding</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Unvested balances at
December 31, 2012</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">806,317</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Awards granted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,658,132</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Awards vested</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(241,517</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Awards
forfeited</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(185,037</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Unvested balances at
December 31, 2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,037,895</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Awards granted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,634,392</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Awards vested</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(565,733</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Awards
forfeited</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(251,599</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Unvested balances at
December 31, 2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,854,955</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">During 2014,
565,733 restricted stock awards and units vested with a weighted
average grant date fair market value of $27.46 per
share.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><i>Accounting
for Stock-Based Compensation</i></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
uses the Black-Scholes option pricing model in valuing its stock
options. The Black-Scholes model requires estimates regarding
risk-free rate of return, dividend yields, expected term of the
award, volatility and estimated forfeitures of awards during the
service period.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The risk-free
interest rate assumption used by the Company is based on observed
market interest rates appropriate for the term of the
Company’s employee options. During the years ended
December 31, 2014, 2013 and 2012, the Company estimated
expected term based on historical experience of similar awards,
giving consideration to the contractual terms of the stock-based
awards, vesting schedules and expectations of future employee
behavior. The dividend yield assumption is based on historical and
expected dividend payouts. The Company determined expected
volatility of options granted using an average of the historical
volatility measures of comparable companies from a representative
industry peer group.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
uses historical data to estimate pre-vesting option forfeitures and
records stock-based compensation expense only for those awards that
are expected to vest. Changes in estimated forfeitures will be
recognized through a cumulative catch-up adjustment in the period
of change and will also impact the amount of stock-based
compensation expense to be recognized in future periods. For
options granted, the Company amortizes the fair value on a
straight-line basis over the vesting period of the
options.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The fair
value of stock option grants has been estimated at the date of
grant using the Black–Scholes option pricing model with the
following weighted average assumptions:</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="31%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="5" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Risk-free interest
rate</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1.62% to 1.78%</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.65% to 1.41%</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.78% to 1.32%</font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Expected term</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4.93 to 5.10 years</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5.32 to 5.57 years</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5.59 to 5.83 years</font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Dividend yield</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.00%</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.00%</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.00%</font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Expected
volatility</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">38.70% to 42.50%</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">46.90% to 50.80%</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">50.60% to 55.40%</font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table summarizes the total stock-based compensation expense for the
years ended December 31, 2014, 2013 and 2012 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="67%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Cost of
revenue</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,245</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,064</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,675</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Product
development</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,174</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9,515</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,642</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Sales and
marketing</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,805</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,488</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,629</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">General and
administrative</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,294</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,820</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">12,087</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">48,518</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">37,887</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">27,033</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Total gross
unrecognized compensation cost related to nonvested stock options
and restricted stock was $95,989,000 and $84,248,000 as of
December 31, 2014 and 2013, respectively. The Company expects
to recognize the costs as of December 31, 2014 over a weighted
average period of 2.36 years.</font></p>
</div>
Events that may cause changes in the Company's tax carryovers include, but are not limited to, a cumulative ownership change of more than 50.0% over a three-year period.
Large Accelerated Filer
No
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Restricted Cash</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Restricted cash of $2,492,000 and $2,180,000 at December 31,
2014 and December 31, 2013, respectively, was held in accounts
owned by the Company in conjunction with property license
requirements, leased office space and to secure credit card
availability and reimbursable direct debits due from the
Company.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Cost of Revenue</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Cost of revenue consists of salaries, benefits and related expenses
and stock-based compensation of the Company’s customer
service and web hosting personnel, merchant fees charged by credit
card processors, costs associated with the hosting of the
Company’s websites, costs associated with payments and
reserves under the Company’s Carefree Rental Guarantee,
allocated facility expenses and depreciation costs.</p>
</div>
P2Y4M10D
145364000
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Expected
future annual amortization expense for definite-lived intangible
assets as of December 31, 2014 is as follows (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="84%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2015</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,772</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2016</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9,132</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2017</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,042</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2018</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,738</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2019</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,057</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Thereafter</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">19,686</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">63,427</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Revenue
Recognition</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
recognizes revenue when persuasive evidence of an agreement exists,
delivery has occurred, the sales price is fixed or determinable and
collectability is reasonably assured. The Company accounts for
sales incentives to customers as a reduction of revenue at the time
that the revenue is recognized from the related product sale. The
Company also reports revenue net of any sales tax
collected.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
generates a significant portion of its revenue from customers
purchasing online advertising services related to the listing of
their properties for rent, primarily on a subscription basis over a
fixed-term. The Company also generates revenue based on the number
of traveler inquiries and reservation bookings for property
listings on the Company’s websites, local and national
Internet display advertisers, license of property management
software and ancillary products and services.</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Payments for
term-based subscriptions received in advance of services being
rendered are recorded as deferred revenue and recognized on a
straight-line basis over the listing period.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Revenue for
inquiry-based contracts are determined on a fixed fee-per-inquiry
as stated in the arrangement and recognized when the service has
been performed.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
earns commission revenue for reservations made online through its
websites, which is calculated as a percentage of the value of the
reservation. This revenue is earned as the services are performed
or as the customers’ refund privileges lapse and is included
in listing revenue in the consolidated statement of
operations.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Internet
display advertising revenue is generated primarily from
advertisements appearing on the Company’s websites. Depending
upon the terms, revenue is earned each time an impression is
delivered, a user clicks on an ad, a graphic ad is displayed, or a
user clicks-through the ad and takes a specified action on the
destination site.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
sells gift cards with no expiration date to travelers and does not
charge administrative fees on unused cards. There is a portion of
the gift card obligation that, based on historical redemption
patterns, will not be used by the Company’s customers and is
not required to be remitted to relevant jurisdictions
(“breakage”). At the point of sale, the Company
recognizes breakage as deferred revenue and amortizes it over 48
months based on historical redemption patterns. The Company also
records commission revenue for each gift card sale over the same
48-month redemption period.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Through its
professional software for bed and breakfasts and professional
property managers, the Company makes selected, online bookable
properties available to online travel agencies and channel
partners. The Company receives a percentage of the transaction
value or a fee from the property manager for making this inventory
available, which is recognized when earned. This revenue is
included in other revenue in the consolidated statement of
operations.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
generates revenue from the licensing of software products, the sale
of maintenance agreements and the sale of hosted software
solutions. For software license sales, one year of maintenance is
typically included as part of the initial purchase price of the
bundled offering with annual renewals of the maintenance component
of the agreement following in subsequent years.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
recognizes revenue from the sale of perpetual licenses upon
delivery, which generally occurs upon electronic transfer of the
license key that makes the product available to the
purchaser.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">As software is
usually sold with maintenance, the amount of revenue allocated to
the software license is determined by estimating the fair value of
the maintenance and subtracting it from the total invoice or
contract amount. Vendor-specific objective evidence, or VSOE, of
the fair value of maintenance services is determined by the
standard published list pricing for maintenance renewals, as the
Company generally charges list prices for maintenance renewals. In
determining VSOE, the Company requires that a substantial majority
of the selling price for maintenance services fall within a
reasonably narrow pricing range. Maintenance and support revenue is
recognized ratably over the term of the agreement beginning on the
activation date. Amounts that have been invoiced are recorded in
accounts receivable and in deferred revenue or revenue, depending
on whether the revenue recognition criteria have been
met.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Sales of hosted
software solutions are generally for a one-year period. Revenue is
recognized on a straight-line basis over the contract term. Certain
implementation services related to the hosting services are
essential to the customer’s use of the hosting services. For
sales of these hosting services where the Company is responsible
for implementation, the Company recognizes implementation revenue
ratably over the estimated period of the hosting relationship,
which the Company considers to be three years. Recognition starts
once the product has been made available to the
customer.</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Training and
consulting revenue is recognized upon delivery of the training or
consulting services to the end customer.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
accounts for sales incentives to customers as a reduction of
revenue at the time that the revenue is recognized from the related
product sale. The Company also reports revenue net of any sales tax
collected.</font></p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table summarizes the total rental expense that the Company recorded
for the years ended December 31, 2014, 2013 and 2012 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Rental expense</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,994</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,202</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,492</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
36.33
565733
0.0000
236714000
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Derivative Financial Instruments</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
As a result of the Company’s international operations, it is
exposed to various market risks that may affect its consolidated
results of operations, cash flows and financial
position. These market risks include, but are not limited to,
fluctuations in currency exchange rates. The Company’s
primary foreign currency exposures are in Euros, British
Pound Sterling and Australian Dollars. As a result, the
Company faces exposure to adverse movements in currency exchange
rates as the financial results of its operations are translated
from local currency into U.S. dollars upon consolidation.
Additionally, foreign exchange rate fluctuations on transactions
denominated in currencies other than the functional currency result
in gains and losses that are reflected in other income (expense) in
the Company’s consolidated statements of operations.</p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%">
The Company may enter into derivative instruments to hedge certain
net exposures of nonfunctional currency denominated assets and
liabilities, primarily related to intercompany loans, even though
it does not elect to apply hedge accounting or hedge accounting
does not apply. Gains and losses resulting from a change in
fair value for these derivatives are reflected in the period in
which the change occurs and are recognized on the consolidated
statement of operations in other income (expense). Cash flows
from these contracts are classified within cash flows from
investing activities on the consolidated statements of cash
flows.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The Company does not use financial instruments for trading or
speculative purposes. The Company recognizes all derivative
instruments on the balance sheet at fair value and its derivative
instruments are generally short-term in duration. The Company
is exposed to the risk that counterparties to derivative contracts
may fail to meet their contractual obligations.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following table shows the fair value and notional amounts of
the Company’s outstanding or unsettled derivative instruments
that are not designated as hedging instruments covering foreign
currency exposures during the year ended December 31, 2014 and
closing January 2, 2015 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="51%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom" nowrap="nowrap">
<p style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 77.3pt">
<b>Balance Sheet Caption</b></p>
</td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="14" nowrap="nowrap" align="center"><b>December 31,
2014</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" nowrap="nowrap" align="center">
<b>Significant Other<br />
Observable Inputs<br />
(Level 2)</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">
<b>U.S. Dollar<br />
Notional</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">
<b>Gross Amount of<br />
Recognized<br />
Assets/Liabilities</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">
<b>Gross Amounts<br />
Offset in the<br />
Balance Sheet</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Net Amount<br />
Presented in the<br />
Balance Sheet</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" colspan="2"> </td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Prepaid expenses and other current assets</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">4,506</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">4,506</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">157,164</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Accrued expenses</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(67</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(67</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">11,562</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Total</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">4,439</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">4,439</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">168,726</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
In addition to the notional amounts listed above, the Company also
had $165,454,000 of derivatives entered into on December 31,
2014 with a closing date of April 2, 2015.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following table shows the fair value and notional amounts of
the Company’s outstanding or unsettled derivative instruments
that are not designated as hedging instruments covering foreign
currency exposures during the year ended December 31, 2013 (in
thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="49%"></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom" nowrap="nowrap">
<p style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 77.3pt">
<b>Balance Sheet Caption</b></p>
</td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="14" nowrap="nowrap" align="center"><b>December 31,
2013</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" nowrap="nowrap" align="center">
<b>Significant Other<br />
Observable Inputs<br />
(Level 2)</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">
<b>U.S. Dollar<br />
Notional</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">
<b>Gross Amount of<br />
Recognized<br />
Assets/Liability</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">
<b>Gross Amounts<br />
Offset in the<br />
Balance Sheet</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Net Amount<br />
Presented in the<br />
Balance Sheet</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" colspan="2"> </td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Prepaid expenses and other current assets</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">363</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">363</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">20,520</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Accrued expenses</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(979</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(979</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">84,292</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Total</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(616</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(616</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">104,812</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The
Company’s accrued expenses are comprised of the following at
December 31, 2014 and 2013, respectively (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="74%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Compensation and related
benefits</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,413</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,700</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Gift cards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,654</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,090</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Contracting, consulting
and professional fees</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,254</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,494</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Taxes</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,954</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,425</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Marketing</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,115</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,197</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign exchange –
forward contracts</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">99</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">979</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Traveler guarantee
liability</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,790</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">956</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,976</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,784</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">50,255</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">54,625</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The income
tax expense (benefit) is comprised of the following (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="65%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Current</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Federal</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">State</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">250</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,116</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,105</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,771</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9,625</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Federal</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,502</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,733</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,976</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">State</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(831</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">98</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(524</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(5,879</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,511</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(5,425</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Change in valuation
allowance</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,231</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(483</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">418</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,272</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,724</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,175</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The
finite-lived intangible assets that are being amortized are
summarized in the table below (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="39%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom" colspan="2"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Useful Life<br />
(Years)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Gross<br />
Carrying<br />
Amount</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Accumulated<br />
Amortization</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Net<br />
Carrying<br />
Amount</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Gross<br />
Carrying<br />
Amount</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Accumulated<br />
Amortization</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Net<br />
Carrying<br />
Amount</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Trade names and
trademarks</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">30,316</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(8,396</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,920</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">30,066</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(5,050</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">25,016</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Developed
technology</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2-8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,293</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(13,231</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,062</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">31,513</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(23,646</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,867</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Customer
relationships</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6-14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">57,656</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(25,512</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">32,144</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">80,510</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(41,739</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">38,771</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Noncompete agreements and
domain names</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2-5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,224</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(923</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,301</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,163</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(3,181</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,982</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">111,489</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(48,062</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">63,427</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">147,252</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(73,616</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">73,636</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
has the following indefinite-lived intangible assets recorded in
its consolidated balance sheets as of December 31, 2014 and
2013, respectively (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="76%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Trademarks, trade names
and other</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,029</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,029</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
has operations in domestic and foreign regions, specifically in
Europe, South America and the Asia Pacific region. Information
about these operations is presented below (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<br class="Apple-interchange-newline" />
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<td width="61%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Revenue:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">United States</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">262,412</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">211,473</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">173,078</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">France</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">59,306</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">52,222</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">42,451</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">United Kingdom</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">48,996</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">41,231</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">35,656</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Australia</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">25,888</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,300</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,141</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Germany</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">24,410</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">20,719</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,194</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other
international</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">25,750</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">17,544</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,884</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total revenue</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">446,762</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">346,489</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">280,404</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<tr style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1pt 'Times New Roman'; LETTER-SPACING: normal; BACKGROUND-COLOR: rgb(255,255,255); TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<td></td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>FINANCIAL STATEMENT SCHEDULE</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>SCHEDULE II—VALUATION AND QUALIFYING
ACCOUNTS</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="66%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Beginning<br />
Balance</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Additions</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b><font style="WHITE-SPACE: nowrap">Write-offs</font></b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Ending<br />
Balance</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1">(in
thousands)</font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Allowance for doubtful
accounts:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Year ended
December 31, 2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,038</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">471</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(846</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">663</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Year ended
December 31, 2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">633</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">980</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(575</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,038</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Year ended
December 31, 2012</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">425</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">647</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(439</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">633</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="65%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Beginning<br />
Balance</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Additions</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Reductions</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Ending<br />
Balance</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1">(in
thousands)</font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred Tax Asset
Valuation Allowance:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Year ended
December 31, 2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">362</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,270</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(169</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,463</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Year ended
December 31, 2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">921</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">838</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,397</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">362</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Year ended
December 31, 2012</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">507</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">753</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(339</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">921</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<br class="Apple-interchange-newline" />
</div>
1634392
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Use of Estimates</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
The preparation of financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenue and expenses during
the reporting periods. Actual results could differ from those
estimates. These differences could have a material effect on the
Company’s future results of operations and financial
position. Significant items subject to estimates and assumptions
include certain revenues, the allowance for doubtful accounts, the
fair value of short-term investments, the carrying amounts of
goodwill and other indefinite-lived intangible assets, depreciation
and amortization, the valuation of stock options, deferred income
taxes and the fair value of noncontrolling interests.</p>
</div>
2014-12-31
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Cash and Cash Equivalents</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Cash and cash equivalents include investments in money market
funds, corporate and municipal bonds and time deposits that are
readily convertible into cash. Cash and cash equivalents are stated
at cost, which approximates fair value. The Company considers all
highly liquid investments purchased with an original maturity date
of three months or less to be cash equivalents. Cash and cash
equivalents consisted of the following at December 31, 2014
and December 31, 2013 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="78%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>December 31,</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2014</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2013</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Demand deposit accounts</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">108,316</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">298,157</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Money market funds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">183,008</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">26,451</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,001</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Total</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">292,325</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">324,608</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table summarizes the amortization expense that the Company recorded
for the years ended December 31, 2014, 2013 and 2012 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="67%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Amortization
expense</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,916</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,668</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">12,438</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>10.
Redeemable Noncontrolling Interests</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">During the
year ended December 31, 2013, the Company acquired 68.5% of
the outstanding stock of travelmob Pte. Ltd. and 55% of the
outstanding stock of Bookabach Limited. During the year ended
December 31, 2014, the Company acquired 20% of the outstanding
equity held by the remaining shareholders of Bookabach Limited. The
redeemable noncontrolling interests are reported on the
Consolidated Balance Sheets in mezzanine equity in
“Redeemable noncontrolling interests.”</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
recognizes changes to the redemption value of noncontrolling
interests as they occur and adjusts the carrying value to equal the
redemption value at the end of each reporting period
accordingly.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Changes in
the Company’s redeemable noncontrolling interests for the
year ended December 31, 2014 and 2013 are as follows (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="84%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance at
December 31, 2012</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Fair value at
acquisition</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,966</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net loss attributable to
noncontrolling interests</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(395</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Currency translation
adjustments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance at
December 31, 2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,584</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net loss attributable to
noncontrolling interests</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,839</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Changes to redemption
value of noncontrolling interests</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,421</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Repurchase of redeemable
noncontrolling interests</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,461</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Currency translation
adjustments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">37</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance at
December 31, 2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9,742</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
</div>
1
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Property and Equipment</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Property and equipment are recorded at cost less accumulated
depreciation. Depreciation is computed using the straight-line
method over the estimated useful lives of the related assets.
Computer equipment and purchased software are generally depreciated
over three years. Furniture and fixtures are generally depreciated
over five to ten years. Leasehold improvements are depreciated on a
straight-line basis over the shorter of the contractual lease
period or their estimated useful life. Upon disposal, property and
equipment and the related accumulated depreciation are removed from
the accounts and the resulting gain or loss is reflected in the
statements of operations. Ordinary maintenance and repairs are
charged to expense, while expenditures that extend the physical or
economic life of the assets are capitalized.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The Company capitalizes certain internally developed software and
website development costs. These capitalized costs were $36,038,000
and $30,523,000 at December 31, 2014 and December 31,
2013, respectively, and are included in property and equipment,
net, in the consolidated balance sheets. Internally developed
software costs are generally depreciated over five years.</p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%">
The Company recorded depreciation expense on internally developed
software and website development costs as follows for the years
ended December 31, 2014, 2013 and 2012 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="76%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" align="center"><b>Year Ended
December 31,</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2014</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2013</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2012</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Depreciation expense on internally developed software and website
development costs</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">5,471</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">3,939</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,874</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>Selected Quarterly Financial Data</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>(Unaudited)</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="47%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="30" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>For the Three Months
Ended:</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>March 31,<br />
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>June 30,<br />
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>September 30,<br />
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,<br />
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>March 31,<br />
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>June 30,<br />
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>September 30,<br />
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,<br />
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom" colspan="30" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>(in thousands, except
per share amounts)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="1">Revenue</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">79,464</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">86,608</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">90,148</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">90,269</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">105,682</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">114,256</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">117,112</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">109,712</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="1">Net income (loss)
attributable to HomeAway, Inc.</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">5,295</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">5,470</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">8,478</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">(1,557</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">4,443</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">3,867</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">4,912</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">162</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">(1)</sup> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="1">Net income (loss) per
share—basic and diluted</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">0.06</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">0.06</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">0.10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">(0.02</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">0.05</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">0.04</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">0.05</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">0.00</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="1">Shares used in per share
calculation—basic</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">83,940</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">84,920</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">85,452</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">87,111</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">92,699</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">93,671</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">94,106</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">94,378</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="1">Shares used in per share
calculation—diluted</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">86,492</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">87,647</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">88,215</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">90,144</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">96,295</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">96,011</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">96,389</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="1">96,600</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Accumulated
other comprehensive loss consists of the following at
December 31, 2014 and 2013, respectively (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="74%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign currency
translation</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(27,252</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(6,728</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Unrealized losses on
short-term investments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(801</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(28,053</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(6,747</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Notes
consist of the following (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="65%"></td>
<td valign="bottom" width="12%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="11%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,<br />
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,<br />
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Liability
component:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Principal:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.125% Senior
Notes</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">402,500</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Less: debt discount,
net</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.125% Senior
Notes</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(86,319</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net carrying
amount</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">316,181</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table summarizes the Company’s weighted-average amortization
period, in total and by major finite-lived intangible asset class,
by acquisition during the years ended December 31, 2014, 2013
and 2012 (in years):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="60%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Glad to<br />
Have You</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Stayz</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Bookabach</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>travelmob</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Toprural</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Developed
technology</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1.8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Customer
relationships</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Non-competition
agreements</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Trade names</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total weighted-average
amortization period</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6.5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9.8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7.8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8.7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7.4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
27.46
0.0162
P6Y9M18D
12.05
26.66
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
is a summary of the Company’s loss carryforwards and their
expiration at December 31, 2013 and 2014, respectively (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="57%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Expiration</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Federal loss
carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><font style="WHITE-SPACE: nowrap">2025-2034</font></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">15,722</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,474</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">State loss
carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2025-2034</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">396</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">447</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Federal research and
development credit carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2027-2034</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,386</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,050</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">State research and
development credit carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2034</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,857</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">498</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Texas margin tax credit
carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Indefinite</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">310</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">310</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign loss
carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><font style="WHITE-SPACE: nowrap">2018-Indefinite</font></font><font style="FONT-FAMILY: 'Times New Roman'" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">(1)</sup></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">26,046</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">25,690</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign local loss
carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2018-2020</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">517</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">686</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Federal foreign tax
credit carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2020-2024</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,351</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,342</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr>
<td valign="top" width="4%" align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Of the Company’s
foreign net operating loss carryforwards, $11,697,000 will expire
between 2018 and 2030 if not utilized, and $14,349,000 will
carryforward indefinitely.</font></td>
</tr>
</table>
</div>
false
--12-31
2014
96481000
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>3.
Business Combinations</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table summarizes the Company’s acquisitions during the years
ended December 31, 2014, 2013 and 2012 with amounts shown
below as fair values at each respective acquisition date (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="55%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Glad to Have<br />
You</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Stayz</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Bookabach</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>travelmob</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Toprural</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Year acquired</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2013</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2013</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2013</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2012</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="8"></td>
<td height="8" colspan="4"></td>
<td height="8" colspan="4"></td>
<td height="8" colspan="4"></td>
<td height="8" colspan="4"></td>
<td height="8" colspan="4"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net tangible assets
(liabilities) acquired</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Cash</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,942</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">395</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">63</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,220</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred
revenue</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(65</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,234</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(350</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(43</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,269</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Amounts payable to
property owners</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(4,187</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(194</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(473</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">17</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(365</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">228</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(123</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(315</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total tangible assets
(liabilities) acquired</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,844</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">79</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(576</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">636</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred tax
liabilities</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,653</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(5,313</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(228</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(513</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(3,193</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Trade name</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,177</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,224</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">161</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">607</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,060</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Developed
technology</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,760</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,735</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">64</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,937</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,144</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Customer
relationships</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,643</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">18,288</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">446</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,123</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,440</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Goodwill</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,647</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">177,777</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,514</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,833</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,190</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Non-competition
agreements</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">240</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,387</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">300</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">150</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Redeemable noncontrolling
interests</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,938</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(9,028</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Aggregate purchase
price</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,791</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">197,254</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,398</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,533</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">19,277</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Less: cash
acquired</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(4,942</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(395</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(63</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(3,220</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,766</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">192,312</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,003</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,470</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,057</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table summarizes the Company’s weighted-average amortization
period, in total and by major finite-lived intangible asset class,
by acquisition during the years ended December 31, 2014, 2013
and 2012 (in years):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="60%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Glad to<br />
Have You</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Stayz</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Bookabach</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>travelmob</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Toprural</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Developed
technology</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1.8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Customer
relationships</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Non-competition
agreements</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Trade names</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10.0</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total weighted-average
amortization period</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6.5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9.8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7.8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8.7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7.4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Tangible net
assets (liabilities) were valued at their respective carrying
amounts, which the Company believes approximate their current fair
values at the respective acquisition dates due to their short
durations.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The valuation
of identifiable intangible assets acquired reflects
management’s estimates based on, among other factors, use of
established valuation methods. The value of the acquired trade
names was determined using a relief from royalty method. Developed
technology was valued on a combination of the income and market
approach. Customer relationships were valued by projecting the
estimated cash flow from the Company’s existing customer
relationships. Non-competition agreements have been valued based on
other arms’ length transactions between the Company and
selling shareholders in past acquisitions or based on the present
value of estimated future cash flows with and without this asset.
Identifiable intangible assets with definite lives are amortized
over the period of estimated benefit using the straight-line method
and the estimated useful lives of two to thirteen years. The
straight-line method of amortization represents the Company’s
best estimate of the distribution of the economic value of the
identifiable intangible assets. Goodwill represents the excess of
the purchase price over the fair value of the net tangible and
identifiable intangible assets acquired.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Redeemable
noncontrolling interests are measured at fair value, at the date of
acquisition, and classified as mezzanine equity due to the
contingent redeemable feature. The Company has elected to recognize
increases in the redemption value immediately as they occur and
adjust the carrying amount of the noncontrolling interests to equal
the redemption value at the end of each reporting period, however
this adjustment will not reduce the noncontrolling interests below
the initial amount recorded. See Note 10 for the reconciliation of
the redeemable noncontrolling interests.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Glad to
Have You, Inc.</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In March
2014, the Company acquired Glad to Have You, Inc. (“Glad To
Have You”), a United States company that is the creator of a
mobile guest management solution for the vacation rental industry,
for cash consideration of approximately $16,791,000. The direct
acquisition costs incurred by the Company were not significant to
the Company’s operating results, and all such costs were
expensed as incurred and included in general and administrative
expenses in the consolidated statement of operations.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Of the total
consideration paid, $250,000 of the cash consideration was
deposited in escrow as security for the benefit of the Company
against breaches of representations and warranties, covenants and
certain other expressly enumerated matters by the sellers. The
escrow funds not used to satisfy such seller obligations will be
released to the sellers two business days following the first
anniversary date of the acquisition. In addition, $250,000 of the
total cash consideration was deposited in escrow as security and
pending final net working capital related purchase price
adjustments. The net working capital related escrow funds were
released in June 2014.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The acquired
goodwill primarily represents synergies associated with adding Glad
To Have You’s mobile applications to the Company’s
marketplace of websites to provide property owners and managers
with an additional way to manage and communicate with guests during
their stay. Goodwill is not deductible for tax purposes. The
acquired trade name has an estimated useful life of 10 years from
the date of acquisition, the developed technology has an estimated
useful life of 5 years from the date of acquisition and the
customer relationships have an estimated useful life of 8 years
from the date of acquisition. Non-compete agreements have an
estimated useful life of 3 years. The total weighted average
amortization period for the intangibles acquired is 6.5
years.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The results
of Glad To Have You have been included in the Company’s
consolidated results since the acquisition date in March 2014. Pro
forma results of operations related to this acquisition have not
been presented because Glad To Have You’s operating results
up to and subsequent to the date of acquisition were not material
to the Company’s consolidated financial
statements.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Stayz</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In December
2013, the Company acquired 100% of the outstanding stock of Stayz
Pty Limited (“Stayz”), the leading online vacation
rental marketplace in Australia, for total consideration of
approximately $197,820,000. Consideration included $196,739,000 in
cash paid directly to the sellers and $1,081,000 paid to the
sellers in April 2014 based on completed working capital purchase
price adjustments pursuant to the purchase agreement. The Company
incurred approximately $3,802,000 in direct acquisition costs, all
of which were expensed as incurred, and are included in general and
administrative expenses in the consolidated statement of
operations. The Company also entered into certain transitional
service agreements with the prior owners of Stayz to have
accounting, infrastructure and support services provided to the
Company for a defined period of time in 2014. Amounts paid for
these services are recorded as incurred and are included in the
Company’s consolidated results as general and administrative
expenses.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The
acquisition of Stayz adds approximately 40,000 additional
Australian-based properties to the HomeAway network and provides
HomeAway a strong momentum to its pay-per-booking product
offering.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The acquired
goodwill primarily represents synergies associated with adding
Stayz to the Company’s marketplace of websites to provide
travelers with a broader inventory selection of vacation
properties. Goodwill is not deductible for tax purposes.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The results
of Stayz have been included in the Company’s consolidated
results since the acquisition date in December 2013.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
unaudited pro forma supplemental information presents an aggregated
summary of the results of operations of the Company for the years
ended December 31, 2013 and 2012, assuming the completion of
the 2013 acquisition of Stayz occurred on January 1, 2012 (in
thousands).</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The unaudited
pro forma supplemental information is based on estimates and
assumptions that the Company believes are reasonable. Accordingly,
the Company adjusted the pro forma results for quantifiable items
such as direct acquisition costs, amortization of acquired
intangible assets and the estimated tax provision of the pro form
combined results. Further, during the quarter ended March 31,
2014 the Company revised the pro forma revenue and net income for
the year ended December 31, 2013 by a decrease of $1.9 million
and $1.3 million, respectively, based on adjustments of certain
estimates, as the Company obtained additional information about the
facts and circumstances that existed as of the acquisition date.
The average foreign exchange rate during each of the presented
years was used in preparing the supplemental information. The
unaudited pro forma supplemental information prepared by the
Company is not necessarily indicative of the results expected in
future periods or the results that actually would have been
realized had the acquired business and the Company been a combined
company during the specified periods.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Pro forma total
revenue</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">370,620</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">305,904</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Pro forma net
income</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">28,687</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">17,855</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Bookabach</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In November
2013, the Company acquired 55% of the outstanding stock of
Bookabach Limited (“Bookabach”), a leading vacation
rental website in New Zealand, for cash consideration of
approximately $2,398,000. The Company incurred approximately
$160,000 in direct acquisition costs, all of which were expensed as
incurred, and are included in general and administrative expenses
in the consolidated statement of operations.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Approximately
$492,000 of the cash consideration was deposited in escrow as
security for the benefit of the Company against breaches of
representations and warranties, covenants and certain other
expressly enumerated matters by the sellers. The escrow funds not
used to satisfy such seller obligations will be released to the
sellers on the second anniversary date of the
acquisition.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Bookabach
features more than 8,000 property listings located in New Zealand,
Australia and the Pacific Islands including holiday homes and beach
houses, also known as baches.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The acquired
goodwill primarily represents synergies associated with adding
Bookabach to the Company’s marketplace of websites to provide
travelers with a broader inventory selection of vacation
properties. Goodwill is not deductible for tax purposes.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The results
of Bookabach have been included in the Company’s consolidated
results since the acquisition date in November 2013. Pro forma
results of operations related to this acquisition have not been
presented since Bookabach’s operating results up to the date
of acquisition were not material to the Company’s
consolidated financial statements.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Under the
terms of the acquisition agreement, the Company has a call option
to purchase the remaining non-controlling interest of Bookabach in
two installments on October 31, 2014 and June 30, 2015,
respectively. In the event that the Company does not exercise one
or both of its call options to purchase the remaining shares of
Bookabach by such deadlines, the remaining Bookabach shareholders
have two put options to require the Company to repurchase their
remaining interest in two installments for which, if exercised,
shall be deemed to occur on October 31, 2014 and June 30,
2015, respectively. The option was determined to have no
value.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In accordance
with the acquisition agreement, the remaining Bookabach
shareholders exercised their first put option, effective October
2014, requiring the Company to purchase 20% of the outstanding
equity held by noncontrolling shareholders for cash consideration
of $1,461,000. Following this repurchase, the Company owns 75% of
the outstanding stock of Bookabach.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In November
2014, the Company and the remaining Bookabach shareholders amended
the acquisition agreement to extend the date of the second call
option by the Company and the corresponding second put option by
the remaining Bookabach shareholders from June 30, 2015 to
June 30, 2016. Additionally, the formula for calculating the
value of the second call and put option was amended to reflect the
extension of time provided to the second option. The Company
recorded the impact of the amendment as an increase in the
noncontrolling interest value on the Company’s consolidated
balance sheet.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>travelmob</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In August
2013, the Company acquired 100% of the outstanding stock of
travelmob Pte. Ltd. (“travelmob”) for $20.0 million,
net of cash acquired and concurrently sold a non-controlling
interest in travelmob back to certain sellers for $8.5 million. The
Company incurred approximately $284,000 in direct acquisition
costs, all of which were expensed as incurred, and are included in
general and administrative expenses in the consolidated statement
of operations.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Travelmob
features over 14,000 Asia Pacific region short-term rental listings
including luxury villas, urban apartments, houseboats, a private
island as well as shared spaces.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The acquired
goodwill represents synergies associated with adding travelmob to
the Company’s marketplace of websites to provide travelers
with a broader inventory selection of vacation properties to choose
from and provides the Company with a platform to serve the Asian
market. Goodwill is not deductible for tax purposes.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The results
of travelmob have been included in the Company’s consolidated
results since the acquisition date in August 2013. Pro forma
results of operations related to this acquisition have not been
presented since travelmob’s operating results up to the date
of acquisition were not material to the Company’s
consolidated financial statements.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Under the
terms of the acquisition agreement and subsequent amendments, the
Company also concurrently made a $7.0 million cash investment in
the business resulting in the Company holding 68.5% of the
outstanding stock and the non-controlling interest holding 31.5%,
will loan travelmob up to S$13.0 million (approximately $9.6
million using exchange rates as of December 31, 2014) over the
next few years and has a call option to purchase the remaining
non-controlling interest of travelmob for the period defined in the
agreement beginning on December 31, 2016. In the event the
Company does not exercise its call option to purchase the remaining
shares of travelmob by such deadline, the remaining travelmob
shareholders have a put option to require the Company to repurchase
their remaining interest for the period defined in the agreement
beginning on February 1, 2017. The option was determined to
have no value. In addition, certain other shares were reserved as
part of an Employee Stock Options Plan (“ESOP”) in
travelmob. Upon acquisition, the vested shares were measured at
fair value and the amount attributable to the pre-combination
service was included in the fair value of the noncontrolling
interests.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-LEFT: 30px; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b><i>Toprural</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In April
2012, the Company acquired 100% of the outstanding stock of Top
Rural S.L., the leading site for independently-owned rural
accommodations in Southern Europe (the acquired business is
referred to as “Toprural”), for cash consideration of
approximately $19,277,000. The acquisition of Toprural further
solidifies the Company’s market presence in Spain and
Southern Europe and extends the Company’s reach to a
desirable European traveler segment that seeks long weekend
holidays to small towns or countryside destinations. The Company
incurred approximately $285,000 in direct acquisition costs, all of
which were expensed as incurred, and are included in general and
administrative expenses in the consolidated statement of
operations.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Approximately
$2,670,000 of the cash consideration was deposited in escrow as
security for the benefit of the Company against breaches of
representations and warranties, covenants and certain other
expressly enumerated matters by the sellers. The escrow funds were
released to the sellers in two equal payments on the first and
second anniversary dates of the acquisition.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The acquired
goodwill primarily represents synergies associated with adding
Toprural to the Company’s marketplace of websites to provide
travelers with a broader inventory selection of vacation
properties. Goodwill is not deductible for tax purposes.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The results
of Toprural have been included in the Company’s consolidated
results since the acquisition date in April 2012.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
unaudited pro forma supplemental information presents an aggregated
summary of the results of operations of the Company for the year
ended December 31, 2012, assuming the completion of the 2012
acquisition of Toprural occurred on January 1,
2011.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The unaudited
pro forma supplemental information is based on estimates and
assumptions that the Company believes are reasonable. The average
foreign exchange rate during the year was used in preparing the
supplemental information. The unaudited pro forma supplemental
information prepared by the Company is not necessarily indicative
of the results expected in future periods or the results that
actually would have been realized had the acquired business and the
Company been a combined company during the specified
periods.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="80%"></td>
<td valign="bottom" width="10%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended<br />
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Pro forma total
revenue</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">281,858</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Pro forma net
income</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">14,959</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
0.14
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Foreign Currency Translation</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
The functional currency of the Company’s foreign subsidiaries
is generally their respective local currency. The financial
statements of the Company’s international operations are
translated into U.S. dollars using the exchange rate at each
balance sheet date for assets and liabilities, the historical
exchange rate for stockholders’ equity, and a weighted
average exchange rate for each period for revenue, expenses, and
gains and losses. Foreign currency translation adjustments are
recorded as a separate component of stockholders’ equity.
Gains and losses from foreign currency denominated transactions are
recorded in other income (expense) in the Company’s
consolidated statements of operations.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following table summarizes the foreign exchange loss that
the Company recorded for the years ended December 31, 2014,
2013 and 2012 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="76%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" align="center"><b>Year Ended
December 31,</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2014</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2013</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2012</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Foreign exchange loss</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">7,138</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">5,964</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,618</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>12. Income
Taxes</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Income before
income taxes includes the following components
(in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="67%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Domestic</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">15,523</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">27,817</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">19,934</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,716</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,198</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,202</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,239</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">29,015</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">28,136</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The income
tax expense (benefit) is comprised of the following (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="65%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Current</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Federal</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">State</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">250</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,116</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,105</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,771</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9,625</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Federal</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,502</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,733</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,976</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">State</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(831</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">98</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(524</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(5,879</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,511</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(5,425</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Change in valuation
allowance</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,231</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(483</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">418</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,272</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,724</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,175</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">During the
three months ended December 31, 2014, the Company identified
immaterial prior period accounting errors related to intercompany
transactions and a Swiss foreign tax credit. The adjustments were
not material to any prior period results of operations. Therefore,
the Company recorded the correction in the same quarter it was
identified, which increased income tax expense by approximately
$796,000 during the three months ended December 31, 2014. The
adjustments had no impact on cash flows from operations or total
cash flows for the prior or current period.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred
income taxes reflect the net effects of temporary differences
between the carrying amounts of assets and liabilities for
financial reporting purposes and the amounts used for income tax
purposes. Deferred tax assets (liabilities) consist of the
following (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="71%"></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred tax
assets:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net operating loss
carryforward</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,816</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,760</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Tax credits</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,082</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">551</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Accrued
liabilities</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,960</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,615</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Stock
compensation</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,621</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,143</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Gift card deferred
revenue and redemption liability</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,451</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,346</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other deferred
revenue</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,413</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,304</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">959</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">310</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total deferred tax
assets</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">37,302</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">28,029</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred tax
liabilities:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Intangible
assets</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(37,095</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(34,473</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Property and
equipment</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(12,170</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(6,530</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Prepaid
expenses</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(540</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(907</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,339</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(536</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total deferred tax
liabilities</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(51,144</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(42,446</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Valuation
allowance</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,463</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(362</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net deferred tax
liabilities</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(16,305</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(14,779</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In August
2013, in a series of transactions, the Company acquired 68.5% of
the outstanding stock of travelmob Pte. Ltd. (see Note 3). A net
deferred tax liability of approximately $513,000 was recorded upon
the acquisition, primarily related to acquired intangibles, net of
acquired net operating losses.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In November
2013, the Company acquired 55% of the outstanding stock of
Bookabach Limited (see Note 3). A net deferred tax
liability of approximately $228,000 was recorded upon the
acquisition, primarily related to acquired intangibles. In November
2014, the Company acquired an additional 20% of the outstanding
stock of Bookabach Limited.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In December
2013, the Company acquired 100% of the outstanding stock of Stayz
Pty Limited (see Note 3). A net deferred tax liability of
approximately $5,313,000 was recorded upon the acquisition,
primarily related to acquired intangibles. Additionally, as a
result of the acquisition, the Company released approximately
$1,397,000 of valuation allowance against the net deferred tax
assets of the Company’s existing Australian subsidiary based
on revised estimates of future taxable income including
Stayz.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">In March
2014, the Company acquired 100% of the outstanding stock of Glad to
Have You, Inc. (see Note 3). A net deferred tax liability
of approximately $1,653,000 was recorded upon the acquisition,
primarily related to acquired intangibles, net of acquired net
operating losses.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">A valuation
allowance is established if, based on the Company’s review of
both positive and negative evidence, it is more likely than not
that all or a portion of the deferred tax asset will not be
realized. The Company maintained a valuation allowance of
approximately $2,463,000 and $362,000 at December 31, 2014 and
December 31, 2013, respectively, primarily related to the
uncertainty of the utilization of certain loss carryforwards as
well as the inability to realize the benefit of basis differences
in certain acquired intangible assets. After reviewing both
positive and negative evidence, the Company determined that it is
not more likely than not that the deferred tax assets of the
Company’s subsidiaries in Singapore and Switzerland will be
realized and recorded a valuation allowance against these assets of
$1,920,000 in the year ended December 31, 2014 compared to $0
in the year ended December 31, 2013. There can be no assurance
that the Company will meet its expectations of future taxable
income. As a result, the amount of the deferred tax assets
considered realizable could be reduced if estimates of future
taxable income are reduced. Such an occurrence could materially
adversely affect the Company’s results of operations and
financial condition. The Company will continue to evaluate the
ability to realize, by jurisdiction, its deferred tax assets and
related valuation allowances.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
is a summary of the Company’s loss carryforwards and their
expiration at December 31, 2013 and 2014, respectively (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="57%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Expiration</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Federal loss
carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><font style="WHITE-SPACE: nowrap">2025-2034</font></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">15,722</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,474</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">State loss
carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2025-2034</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">396</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">447</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Federal research and
development credit carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2027-2034</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,386</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,050</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">State research and
development credit carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2034</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,857</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">498</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Texas margin tax credit
carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Indefinite</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">310</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">310</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign loss
carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><font style="WHITE-SPACE: nowrap">2018-Indefinite</font></font><font style="FONT-FAMILY: 'Times New Roman'" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">(1)</sup></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">26,046</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">25,690</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign local loss
carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2018-2020</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">517</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">686</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Federal foreign tax
credit carryforwards</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2020-2024</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,351</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,342</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0">
<tr>
<td valign="top" width="4%" align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Of the Company’s
foreign net operating loss carryforwards, $11,697,000 will expire
between 2018 and 2030 if not utilized, and $14,349,000 will
carryforward indefinitely.</font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
expects to record a credit to additional paid-in capital upon
utilization of federal net operating loss and credit carryforwards
of $10,323,000 and a credit to additional paid-in capital upon
utilization of foreign net operating loss carryforwards of
$750,000. In addition, all of the federal research and development
tax credits will result in a credit to additional paid-in-capital
when realized.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Under the Tax
Reform Act of 1986, the amount of net operating losses and tax
credits that can be carried forward may be limited in certain
circumstances. Events that may cause changes in the Company’s
tax carryovers include, but are not limited to, a cumulative
ownership change of more than 50.0% over a three-year period.
Certain of the Company’s operating losses that can be
utilized in any one taxable year may be limited by future ownership
changes. Currently, such a limitation exists on the net operating
loss that was acquired in the Escapia, Second Porch and Glad to
Have You acquisitions. A valuation allowance has been recorded to
reduce the deferred tax asset to the value that the Company
believes is more likely than not to be realized. A limitation
also exists for losses attributable to the period of time before
the February 1, 2005 Series A preferred stock financing
transaction due to the deemed ownership change that occurred upon
the issuance of those shares. The Company has not recorded a
benefit for approximately $382,000 of net operating loss
carryforwards that will expire unused.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
is a reconciliation of the amount of the income tax expense that
results from applying the federal statutory income tax rate to
income before income taxes to the reported income tax expense (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="65%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"> <font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Federal tax expense at
statutory rate</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,433</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,155</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9,848</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">State taxes, net of
federal tax benefit</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(552</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">958</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">647</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign tax rate
differential</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,166</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,191</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,481</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred
charges</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,908</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,959</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,582</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Stock
compensation</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,430</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">566</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,679</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Research and development
credit</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,346</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(3,220</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Tax basis in Spanish
intangibles</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,770</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Non-deductible
expenses</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">331</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,342</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">355</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other activity in
unrecognized tax benefits</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">816</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">540</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,325</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(43</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">98</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,198</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net increase (decrease)
in valuation allowance</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,231</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(483</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">418</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,272</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,724</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,175</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">There was a
tax benefit of $2,770,000 recorded in the year ended
December 31, 2014 related to tax basis intangibles resulting
from the merger of wholly owned subsidiaries of the Company in
Spain.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred U.S.
income taxes and foreign withholding taxes are not provided on the
undistributed cumulative earnings of foreign subsidiaries because
those earnings are considered to be permanently reinvested in those
operations. Any permanently reinvested earnings could become
subject to additional U.S. taxes in certain circumstances (subject
to an adjustment for foreign tax credits) and foreign withholding
taxes if remitted to HomeAway, Inc. The determination of the amount
of unrecognized tax liability is not practicable because of the
complexities associated with multiple hypothetical calculations.
There was approximately $28,012,000, $16,741,000 and $20,681,000 of
cumulative earnings in the Company’s foreign subsidiaries as
of December 31, 2014, 2013 and 2012, respectively.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
follows the guidance on accounting for uncertainty in income taxes,
which prescribes a recognition threshold and measurement attribute
for the financial statement recognition and measurement of a tax
position taken or expected to be taken in a tax return and also
provides guidance on derecognition, classification, interest and
penalties, accounting in interim periods, disclosure and
transition.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The aggregate
changes in the balance of unrecognized tax benefits were as
follows, excluding interest and penalties (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="67%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>(in thousands)</b></font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance, beginning of
year</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,555</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,590</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,658</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Increases for tax
positions related to the current year</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,130</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,013</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,815</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Increases for tax
positions related to prior years</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,166</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,702</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,135</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Decreases for tax
positions related to prior years</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(556</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(369</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(739</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Reductions due to lapsed
statute of limitations</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,221</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(381</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(279</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance, end of
year</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,074</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,555</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,590</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Included in
the balance of unrecognized tax benefits at December 31, 2014,
2013, and 2012 are $3,663,000, $3,177,000, and $1,242,000,
respectively, of unrecognized tax benefits that are offset against
related deferred tax assets. If the Company were to recognize the
unrecognized tax benefits as of December 31, 2014, 2013, and
2012, $9,122,000, $7,555,000, and $5,265,000, respectively, would
impact the effective tax rate.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Management
believes that an adequate provision has been made for any
adjustments that may result from tax examinations. However, the
outcome of tax audits cannot be predicted with certainty. If any
issues addressed in the Company’s tax audits are resolved in
a manner not consistent with management’s expectations, the
Company could be required to adjust its provision for income taxes
in the period such resolution occurs. Although timing of the
resolution and closure of audits is not certain, as of
December 31, 2014, there were approximately $1,611,000 of
unrecognized tax benefits in several jurisdictions that the Company
expects could decrease over the next 12 months due to the
expiration of the respective statutes of limitation and $726,000
that could change over the next 12 months due to the conclusion of
tax audits.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
includes interest and penalties related to unrecognized tax
benefits as a component of income tax expense in the Consolidated
Statement of Operations. Accrued interest and penalties are
included within the related tax liability line in the consolidated
balance sheet and were insignificant in all periods
presented.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">As of
December 31, 2014, in the United States, the tax years 2011
through 2013 remain open to examination in the federal jurisdiction
and most state jurisdictions. Tax years 2005 through 2010 remain
open to adjustment due to net operating losses carried forward into
open tax years. HomeAway, Inc. is currently under audit in the
U.S., and two of the Company’s UK subsidiaries are currently
under audit. Internationally, the following years remain open to
examination:</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="77%"></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom" nowrap="nowrap">
<p style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; WIDTH: 40pt">
<font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Jurisdiction</b></font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Open Tax Years</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Germany</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><font style="WHITE-SPACE: nowrap">2011-2014</font></font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">France</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2012-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Brazil</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2009-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">United Kingdom</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2011-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Switzerland</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2010-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Australia</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2010-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Spain</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2010-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Thailand</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2013-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Singapore</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2011-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">New Zealand</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2010-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Colombia</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2013-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Italy</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2013-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div>
<p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
<b>1. Description of Business</b></p>
<p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">
HomeAway, Inc. (the “Company”) operates an online
vacation rental property marketplace that enables property owners
and managers to market properties available for rental to vacation
travelers who rely on the Company’s websites to search for
and find available properties. Property owners and managers pay
listing fees to provide detailed listings of their properties on
the Company’s websites and reach a broad audience of
travelers seeking vacation rentals. Listing fees are typically
annual subscriptions or payments on a performance basis, based on
bookings or inquiries made by travelers to property owners and
managers. A listing includes published detailed property listings,
including photographs, descriptions, location, pricing,
availability and contact information. The Company also sells,
itself or through third parties, complementary products, including
travel guarantees, insurance products and property management
software and services. Travelers use the network of websites to
search for vacation rentals that meet their desired criteria,
including location, size and price. Travelers that find properties
that meet their requirements through the Company’s
marketplace are able to make reservations online or contact
property owners and managers directly by phone or through
form-based communication tools on the Company’s websites.</p>
<p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">
The Company is a Delaware corporation headquartered in Austin,
Texas.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Cash and cash equivalents consisted of the following at
December 31, 2014 and December 31, 2013 (in
thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="78%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"><b>December 31,</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2014</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2013</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Demand deposit accounts</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">108,316</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">298,157</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Money market funds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">183,008</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">26,451</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,001</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Total</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">292,325</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">324,608</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred tax
assets (liabilities) consist of the following (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="71%"></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred tax
assets:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net operating loss
carryforward</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,816</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,760</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Tax credits</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,082</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">551</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Accrued
liabilities</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,960</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,615</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Stock
compensation</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,621</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,143</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Gift card deferred
revenue and redemption liability</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,451</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,346</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other deferred
revenue</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,413</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,304</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">959</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">310</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total deferred tax
assets</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">37,302</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">28,029</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred tax
liabilities:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Intangible
assets</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(37,095</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(34,473</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Property and
equipment</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(12,170</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(6,530</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Prepaid
expenses</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(540</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(907</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,339</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(536</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total deferred tax
liabilities</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(51,144</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(42,446</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Valuation
allowance</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,463</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(362</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net deferred tax
liabilities</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(16,305</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(14,779</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table sets forth the computation of basic and diluted net income
per share attributable to HomeAway, Inc. (in thousands except share
and per share amounts):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="67%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>Numerator</b></font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net income attributable
to HomeAway, Inc.</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,384</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">17,686</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">14,961</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>Denominator</b></font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Weighted average common
shares outstanding-basic</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">93,727</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">85,378</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">82,382</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Dilutive effect of stock
options, warrants and restricted stock units</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,754</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,881</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,560</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Weighted average common
shares outstanding-diluted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">96,481</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">88,259</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">84,942</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net income per share
attributable to HomeAway, Inc.:</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Basic</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.21</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Diluted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Future
minimum lease payments under noncancellable operating leases at
December 31, 2014 are as follows (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="84%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2015</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,073</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2016</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,487</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2017</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,324</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2018</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,486</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2019</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,601</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Thereafter</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,870</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total minimum lease
payments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">60,841</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Expected
future claims for traveler guarantees, which are presented as a
current liability in the Company’s consolidated balance
sheets, and changes for the guarantees are as follows (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="85%"></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Traveler guarantee
liability at December 31, 2012</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">566</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Costs accrued for new
vacation rentals</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,230</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Guarantee obligations
honored</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,840</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Traveler guarantee
liability at December 31, 2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">956</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Costs accrued for new
vacation rentals</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,576</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Guarantee obligations
honored</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,742</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Traveler guarantee
liability at December 31, 2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,790</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
P6Y1M6D
35.50
<div>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>2. Summary of
Significant Accounting Policies</b></font></p>
<!-- xbrl,body -->
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 6px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Basis of
Presentation</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The
accompanying consolidated financial statements include the accounts
of HomeAway, Inc. and all of its wholly and majority-owned
subsidiaries and have been prepared in accordance with accounting
principles generally accepted in the United States. All significant
intercompany transactions and balances have been eliminated in
consolidation.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Business
Segment</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company has
one operating segment consisting of various products and services
related to its online marketplace of accommodation rental listings.
The Company’s chief operating decision maker is considered to
be the Chief Executive Officer. The chief operating decision maker
allocates resources and assesses performance of the business and
other activities at the single operating segment level.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Use of
Estimates</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The preparation
of financial statements in conformity with GAAP requires management
to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the
reported amounts of revenue and expenses during the reporting
periods. Actual results could differ from those estimates. These
differences could have a material effect on the Company’s
future results of operations and financial position. Significant
items subject to estimates and assumptions include certain
revenues, the allowance for doubtful accounts, the fair value of
short-term investments, the carrying amounts of goodwill and other
indefinite-lived intangible assets, depreciation and amortization,
the valuation of stock options, deferred income taxes and the fair
value of noncontrolling interests.</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 18px">
 </p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 0px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Fair
Value of Financial Instruments</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Fair value is
defined as the price that would be received from the sale of an
asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. To increase
the comparability of fair value measures, the following hierarchy
prioritizes the inputs to valuation methodologies used to measure
fair value:</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<!-- Begin Table Head -->
<tr>
<td></td>
<td valign="bottom" width="3%"></td>
<td width="90%"></td>
</tr>
<!-- End Table Head --><!-- Begin Table Body -->
<tr>
<td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Level 1:</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Valuations based on quoted prices for identical assets and
liabilities in active markets.</font></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="8"></td>
<td height="8" colspan="2"></td>
</tr>
<tr>
<td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Level 2:</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Valuations based on observable inputs other than quoted prices
included in Level 1, such as quoted prices for similar assets and
liabilities in active markets, quoted prices for identical or
similar assets and liabilities in markets that are not active, or
other inputs that are observable or can be corroborated by
observable market data.</font></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="8"></td>
<td height="8" colspan="2"></td>
</tr>
<tr>
<td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Level 3:</font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Valuations based on unobservable inputs reflecting the
Company’s own assumptions, consistent with reasonably
available assumptions made by other market participants. These
valuations require significant judgment.</font></td>
</tr>
<!-- End Table Body --></table>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The following
section describes the valuation methodologies used to measure
certain financial assets and financial liabilities at fair
value.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Cash
Equivalents, Restricted Cash and Short-Term
Investments</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The
Company’s cash equivalents, restricted cash and short-term
investments classified as Level 1 are valued using quoted prices
generated by market transactions involving identical assets.
Short-term investments classified as Level 2 are valued using
non-binding market consensus prices that are corroborated with
observable market data; quoted market prices for similar
instruments in active markets; or pricing models, such as a
discounted cash flow model, with all significant inputs derived
from or corroborated with observable market data. The Company did
not hold any cash equivalents, restricted cash or short-term
investments categorized as Level 3 as of December 31, 2014 or
2013.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Short-term
investments include time deposits, corporate bonds, municipal bonds
and commercial paper and are classified as available-for-sale and
reported at fair value using the specific identification method.
Unrealized gains and losses are excluded from earnings and reported
as a component of other comprehensive income (loss), net of related
estimated tax provisions or benefits. Additionally, the Company
periodically assesses whether an other than temporary impairment
loss on investments has occurred due to declines in fair value or
other market conditions. Declines in fair value that are considered
other than temporary are recorded as an impairment in the
consolidated statement of operations. The Company did not record
any impairments of its investments for any of the periods
presented.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The carrying
amounts of certain of the Company’s financial instruments,
including cash and cash equivalents, accounts receivable, prepaid
expenses and other current assets, accounts payable, accrued
liabilities and deferred revenue approximate fair value because of
the relatively short maturity of these instruments.</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The following
table summarizes the basis used to measure certain financial assets
at fair value on a recurring basis in the Company’s
consolidated balance sheets at December 31, 2014 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<!-- Begin Table Head -->
<tr>
<td width="52%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Balance as of<br />
December 31,<br />
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Quoted Prices in<br />
Active Markets<br />
for Identical<br />
Assets (Level 1)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Significant Other<br />
Observable<br />
Inputs (Level 2)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Significant<br />
Unobservable<br />
Inputs<br />
(Level 3)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<!-- End Table Head --><!-- Begin Table Body -->
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Assets</b></font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Cash equivalents</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Money market
funds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">183,008</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">183,008</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Municipal bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,001</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,001</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total cash
equivalents</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">184,009</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">183,008</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,001</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Restricted cash</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Time deposits</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,058</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,058</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total restricted
cash</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,058</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,058</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Short-term
investments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Certificates of
deposit</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">21,726</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">21,726</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Corporate bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">353,212</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">353,212</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Municipal bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">140,406</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">140,406</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">International government
bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,501</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,501</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Commercial paper</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total short-term
investments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">520,844</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">520,844</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total financial
assets</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">706,911</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">183,008</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">523,903</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<!-- End Table Body --></table>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The following
table summarizes the basis used to measure certain financial assets
at fair value on a recurring basis in the Company’s
consolidated balance sheets at December 31, 2013 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<!-- Begin Table Head -->
<tr>
<td width="50%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"> <font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Balance as of<br />
December 31,<br />
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Quoted Prices in<br />
Active Markets<br />
for Identical<br />
Assets (Level 1)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Significant Other<br />
Observable<br />
Inputs (Level 2)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Significant<br />
Unobservable<br />
Inputs<br />
(Level 3)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<!-- End Table Head --><!-- Begin Table Body -->
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Assets</b></font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Cash equivalents</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Money market
funds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">26,451</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">26,451</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"> —  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"> —  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total cash
equivalents</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">26,451</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">26,451</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Restricted cash</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Money market
funds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">758</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">758</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total restricted
cash</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">758</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">758</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Short-term
investments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Time deposits</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,054</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,054</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Corporate bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">33,257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">33,257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Municipal bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">31,487</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">31,487</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total short-term
investments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">66,798</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">66,798</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 5em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total financial
assets</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">94,007</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">27,209</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">66,798</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"> —  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<!-- End Table Body --></table>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Cash and
Cash Equivalents</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Cash and cash
equivalents include investments in money market funds, corporate
and municipal bonds and time deposits that are readily convertible
into cash. Cash and cash equivalents are stated at cost, which
approximates fair value. The Company considers all highly liquid
investments purchased with an original maturity date of three
months or less to be cash equivalents. Cash and cash equivalents
consisted of the following at December 31, 2014 and
December 31, 2013 (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<!-- Begin Table Head -->
<tr>
<td width="70%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<!-- End Table Head --><!-- Begin Table Body -->
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Demand deposit
accounts</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">108,316</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">298,157</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Money market
funds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">183,008</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">26,451</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Municipal bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,001</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">292,325</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">324,608</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<!-- End Table Body --></table>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Restricted Cash</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Restricted cash
of $2,492,000 and $2,180,000 at December 31, 2014 and
December 31, 2013, respectively, was held in accounts owned by
the Company in conjunction with property license requirements,
leased office space and to secure credit card availability and
reimbursable direct debits due from the Company.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Short-term Investments</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Short-term
investments generally consist of marketable securities that have
original maturities greater than ninety days as of the date of
purchase. Investments in which the Company has the ability and
intent, if necessary, to liquidate in order to support its current
operations, including those with contractual maturities greater
than one year from the date of purchase, are classified as
short-term. The Company’s investment securities are
classified as available-for-sale and are presented at estimated
fair value with any unrealized gains and losses included in other
comprehensive income (loss).</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Cash flows from
purchases, sales and maturities of available-for-sale securities
are classified as cash flows from investing activities and reported
gross, including any related premiums or discounts. Premiums
related to purchases of available-for-sale securities were
$13,187,000 and $8,065,000 during the year ended December 31,
2014 and 2013, respectively. Fair values are based on quoted market
prices. Short-term investments consisted of the following at
December 31, 2014 and December 31, 2013 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<!-- Begin Table Head -->
<tr>
<td width="56%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>December 31,
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gross<br />
Cost</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gross<br />
Unrealized<br />
Gains</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gross<br />
Unrealized<br />
Losses</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Estimated<br />
Fair<br />
Value</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<!-- End Table Head --><!-- Begin Table Body -->
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Time deposits</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">21,726</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">21,726</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Corporate bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">353,957</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(752</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">353,212</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Municipal bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">140,455</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(94</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">140,406</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">International government
bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,504</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,501</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Commercial paper</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total short-term
investments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">521,641</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">52</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(849</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">520,844</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="16"></td>
<td height="16" colspan="16"></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>December 31,
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gross<br />
Cost</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gross<br />
Unrealized<br />
Gains</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gross<br />
Unrealized<br />
Losses</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Estimated<br />
Fair<br />
Value</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Time deposits</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,055</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,054</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Corporate bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">33,274</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">33</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">33,257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Municipal bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">31,486</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">31,487</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total short-term
investments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">66,815</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">49</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">66,798</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<!-- End Table Body --></table>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">For fixed
income securities that have unrealized losses as of
December 31, 2014, the Company does not have the intent to
sell any of these investments and it is not more likely than not
that it will be required to sell any of these investments before
recovery of the entire amortized cost basis. The Company has
evaluated these fixed income securities and determined that no
credit losses exist. Accordingly, the Company has determined that
the unrealized losses on fixed income securities as of
December 31, 2014 were temporary in nature.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The following
table summarizes the contractual underlying maturities of the
Company’s short-term investments at December 31, 2014
and December 31, 2013 (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<!-- Begin Table Head -->
<tr>
<td width="61%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>December 31,
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Less than<br />
1 Year</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>1 to 3 Years</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Total</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<!-- End Table Head --><!-- Begin Table Body -->
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Time deposits</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">21,479</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">247</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">21,726</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Corporate bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">240,570</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">112,642</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">353,212</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Municipal bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">87,615</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">52,791</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">140,406</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">International government
bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,501</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,501</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Commercial paper</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total short-term
investments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">355,164</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">165,680</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">520,844</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="16"></td>
<td height="16" colspan="12"></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>December 31,
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Less than<br />
1 Year</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>1 to 3 Years</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Total</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Time deposits</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">500</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,554</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,054</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Corporate bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">11,164</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">22,093</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">33,257</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Municipal bonds</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,031</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">28,456</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">31,487</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total short-term
investments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">14,695</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">52,103</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">66,798</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<!-- End Table Body --></table>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><i>Non-marketable Cost Investment</i></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">During the year
ended December 31, 2014, the Company invested an additional
$9,385,000 for a non-controlling equity interest in a
privately-held company in China. As of December 31, 2014, the
total carrying value of the Company’s investment in the
privately-held company was $19,498,000. Also during 2014, the
Company invested $15,000,000 for a non-controlling equity interest
in a privately-held company in the United States that operates a
travel research application and website.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The
Company’s investment in these privately-held companies is
reported using the cost method of accounting or marked down to fair
value when an event or circumstance indicates an
other-than-temporary decline in value has occurred. No event or
circumstance indicating an other-than-temporary decline in value of
the Company’s interest in the non-marketable cost investments
was identified. These investments are recorded in other non-current
assets on the consolidated balance sheets.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Accounts
Receivable</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Accounts
receivable are generated from several sources. Amounts due from
credit card merchants who process the Company’s credit card
sales from property listings and remit the proceeds to the Company
are the primary source of accounts receivable. Accounts receivable
are also generated from Internet display advertising amounts due in
the ordinary course of business as well as amounts due to the
Company for property listings, other products purchased on account
or amounts due from partners who provide products and services such
as advertising the properties of our property owners and managers
on their websites, insurance products and payment processing
services. Accounts receivable outstanding longer than the
contractual payment terms are considered past due. The Company
determines its allowance for doubtful accounts by estimating losses
on receivables based on known troubled accounts and historical
experiences of losses incurred.</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 18px">
 </p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 0px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Property
and Equipment</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Property and
equipment are recorded at cost less accumulated depreciation.
Depreciation is computed using the straight-line method over the
estimated useful lives of the related assets. Computer equipment
and purchased software are generally depreciated over three years.
Furniture and fixtures are generally depreciated over five to ten
years. Leasehold improvements are depreciated on a straight-line
basis over the shorter of the contractual lease period or their
estimated useful life. Upon disposal, property and equipment and
the related accumulated depreciation are removed from the accounts
and the resulting gain or loss is reflected in the statements of
operations. Ordinary maintenance and repairs are charged to
expense, while expenditures that extend the physical or economic
life of the assets are capitalized.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
capitalizes certain internally developed software and website
development costs. These capitalized costs were $36,038,000 and
$30,523,000 at December 31, 2014 and December 31, 2013,
respectively, and are included in property and equipment, net, in
the consolidated balance sheets. Internally developed software
costs are generally depreciated over five years.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
recorded depreciation expense on internally developed software and
website development costs as follows for the years ended
December 31, 2014, 2013 and 2012 (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<!-- Begin Table Head -->
<tr>
<td width="70%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<!-- End Table Head --><!-- Begin Table Body -->
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Depreciation expense on
internally developed software and website development
costs</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">5,471</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,939</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,874</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<!-- End Table Body --></table>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Goodwill
and Intangible Assets</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Goodwill arises
from business combinations and is measured as the excess of the
purchase consideration over the sum of the acquisition-date fair
values of tangible and identifiable intangible assets acquired,
less any liabilities assumed. The Company uses estimates and
assumptions to value assets acquired and liabilities assumed at the
acquisition date, and these estimates are inherently uncertain and
subject to refinement. As a result, during the measurement period,
which may be up to one year from the acquisition date, adjustments
to the assets acquired and liabilities assumed are recorded with
the corresponding offset to goodwill. Upon the conclusion of the
measurement period or final determination of the values of assets
acquired or liabilities assumed, whichever comes first, any
subsequent adjustments are recorded to the consolidated statements
of operations.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Goodwill and
intangible assets deemed to have indefinite useful lives, such as
certain trade names, are not amortized. Tests for impairment of
goodwill and indefinite-lived intangible assets are performed on an
annual basis or when events or circumstances indicate that the
carrying amount may not be recoverable.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Circumstances
that could trigger an impairment test outside of the annual test
include but are not limited to: a significant adverse change in the
business climate or legal factors, adverse cash flow trends, an
adverse action or assessment by a regulator, unanticipated
competition, loss of key personnel, decline in stock price and the
results of tests for recoverability of a significant asset group.
The Company determined that no triggering event occurred during any
of the periods presented.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">For goodwill
and indefinite lived intangible assets, the Company completes what
is referred to as the “Step 0” analysis, which
involves evaluating qualitative factors, including macroeconomic
conditions, industry and market considerations, cost factors, and
overall financial performance related to its goodwill and its
indefinite lived intangible assets. If the Company’s
“Step 0” analysis indicates that it is more likely than
not that the fair value of a reporting unit or of an indefinite
lived intangible asset is less than its carrying amount, then the
Company would perform a quantitative two-step impairment test. The
quantitative analysis compares the fair value of the
Company’s reporting unit or indefinite-lived intangible
assets to its carrying amount, and an impairment loss is recognized
equivalent to the excess of the carrying amount over fair value.
If, after assessing the totality of events or circumstances, the
Company determines that it is more likely than not that the fair
value of a reporting unit or indefinite lived intangible asset
exceeds its carrying amount, then the quantitative impairment tests
are unnecessary.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
performs an evaluation of goodwill and indefinite-lived intangible
assets for impairment annually in the fourth quarter of its fiscal
year.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The
determination of whether or not goodwill or indefinite-lived
intangible assets have become impaired involves a significant level
of judgment. Changes in the Company’s strategy and/or market
conditions could significantly impact these judgments and require
adjustments to recorded amounts of goodwill or intangible
assets.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">No impairment
of goodwill or indefinite-lived intangible assets was identified in
any of the periods presented.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Identifiable
intangible assets consist of trade names, customer listings,
technology, domain names and contractual non-competition agreements
associated with acquired businesses. Intangible assets with finite
lives are amortized over their estimated useful lives on a
straight-line basis and reviewed for impairment whenever events or
changes in circumstances indicate that an asset’s carrying
value may not be recoverable (see Note 4). The straight-line method
of amortization represents the Company’s best estimate of the
distribution of the economic value of the identifiable intangible
assets.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Impairment of Long-lived Assets</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
evaluates long-lived assets held for use, such as property and
equipment, for impairment whenever events or changes in
circumstances indicate the carrying value of an asset may not be
recoverable. An impairment loss is recognized when estimated future
undiscounted cash flows expected to result from the use of the
asset plus net proceeds expected from disposition of the asset, if
any, are less than the carrying value of the asset. When an
impairment loss is recognized, the carrying amount of the asset is
reduced to its estimated fair value in the period in which the
determination is made. No material impairments of long-lived assets
have been recorded during any of the periods presented.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Leases</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
leases facilities in several countries around the world and certain
equipment under non-cancelable lease agreements. The terms of
certain lease agreements provide for rental payments on a graduated
basis. Rent expense is recognized on a straight-line basis over the
lease period and accrued as rent expense incurred but not
paid.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Revenue
Recognition</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
recognizes revenue when persuasive evidence of an agreement exists,
delivery has occurred, the sales price is fixed or determinable and
collectability is reasonably assured. The Company accounts for
sales incentives to customers as a reduction of revenue at the time
that the revenue is recognized from the related product sale. The
Company also reports revenue net of any sales tax
collected.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
generates a significant portion of its revenue from customers
purchasing online advertising services related to the listing of
their properties for rent, primarily on a subscription basis over a
fixed-term. The Company also generates revenue based on the number
of traveler inquiries and reservation bookings for property
listings on the Company’s websites, local and national
Internet display advertisers, license of property management
software and ancillary products and services.</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Payments for
term-based subscriptions received in advance of services being
rendered are recorded as deferred revenue and recognized on a
straight-line basis over the listing period.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Revenue for
inquiry-based contracts are determined on a fixed fee-per-inquiry
as stated in the arrangement and recognized when the service has
been performed.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
earns commission revenue for reservations made online through its
websites, which is calculated as a percentage of the value of the
reservation. This revenue is earned as the services are performed
or as the customers’ refund privileges lapse and is included
in listing revenue in the consolidated statement of
operations.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Internet
display advertising revenue is generated primarily from
advertisements appearing on the Company’s websites. Depending
upon the terms, revenue is earned each time an impression is
delivered, a user clicks on an ad, a graphic ad is displayed, or a
user clicks-through the ad and takes a specified action on the
destination site.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
sells gift cards with no expiration date to travelers and does not
charge administrative fees on unused cards. There is a portion of
the gift card obligation that, based on historical redemption
patterns, will not be used by the Company’s customers and is
not required to be remitted to relevant jurisdictions
(“breakage”). At the point of sale, the Company
recognizes breakage as deferred revenue and amortizes it over 48
months based on historical redemption patterns. The Company also
records commission revenue for each gift card sale over the same
48-month redemption period.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Through its
professional software for bed and breakfasts and professional
property managers, the Company makes selected, online bookable
properties available to online travel agencies and channel
partners. The Company receives a percentage of the transaction
value or a fee from the property manager for making this inventory
available, which is recognized when earned. This revenue is
included in other revenue in the consolidated statement of
operations.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
generates revenue from the licensing of software products, the sale
of maintenance agreements and the sale of hosted software
solutions. For software license sales, one year of maintenance is
typically included as part of the initial purchase price of the
bundled offering with annual renewals of the maintenance component
of the agreement following in subsequent years.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
recognizes revenue from the sale of perpetual licenses upon
delivery, which generally occurs upon electronic transfer of the
license key that makes the product available to the
purchaser.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">As software is
usually sold with maintenance, the amount of revenue allocated to
the software license is determined by estimating the fair value of
the maintenance and subtracting it from the total invoice or
contract amount. Vendor-specific objective evidence, or VSOE, of
the fair value of maintenance services is determined by the
standard published list pricing for maintenance renewals, as the
Company generally charges list prices for maintenance renewals. In
determining VSOE, the Company requires that a substantial majority
of the selling price for maintenance services fall within a
reasonably narrow pricing range. Maintenance and support revenue is
recognized ratably over the term of the agreement beginning on the
activation date. Amounts that have been invoiced are recorded in
accounts receivable and in deferred revenue or revenue, depending
on whether the revenue recognition criteria have been
met.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Sales of hosted
software solutions are generally for a one-year period. Revenue is
recognized on a straight-line basis over the contract term. Certain
implementation services related to the hosting services are
essential to the customer’s use of the hosting services. For
sales of these hosting services where the Company is responsible
for implementation, the Company recognizes implementation revenue
ratably over the estimated period of the hosting relationship,
which the Company considers to be three years. Recognition starts
once the product has been made available to the
customer.</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Training and
consulting revenue is recognized upon delivery of the training or
consulting services to the end customer.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
accounts for sales incentives to customers as a reduction of
revenue at the time that the revenue is recognized from the related
product sale. The Company also reports revenue net of any sales tax
collected.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Cost of
Revenue</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Cost of revenue
consists of salaries, benefits and related expenses and stock-based
compensation of the Company’s customer service and web
hosting personnel, merchant fees charged by credit card processors,
costs associated with the hosting of the Company’s websites,
costs associated with payments and reserves under the
Company’s Carefree Rental Guarantee, allocated facility
expenses and depreciation costs.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Advertising Expenses</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
expenses all advertising costs as incurred. Advertising expenses
included in sales and marketing expenses were approximately
$59,978,000, $39,138,000 and $37,559,000 for the years ended
December 31, 2014, 2013 and 2012, respectively.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Stock-Based Compensation</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The cost of
stock-based compensation is recognized in the financial statements
based upon the estimated grant date fair value of the awards
measured using the Black–Scholes valuation model. The fair
value of restricted stock awards and units is determined based on
the number of shares granted and the fair value of the
Company’s common stock as of the grant date. Fair value is
generally recognized as an expense on a straight-line basis, net of
estimated forfeitures, over the employee requisite service period.
When estimating forfeitures, the Company considers voluntary
termination behaviors as well as trends of actual option
forfeitures.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
uses the “with and without” approach in determining the
order in which tax attributes are utilized. As a result, the
Company only recognizes a tax benefit from stock-based awards in
additional paid-in capital if an incremental tax benefit is
realized after all other tax attributes currently available to the
Company have been utilized. When tax deductions from stock-based
awards are less than the cumulative book compensation expense, the
tax effect of the resulting difference is charged first to
additional paid-in capital to the extent of the Company’s
pool of windfall tax benefits with any remainder recognized in
income tax expense. The Company has determined that it has a
sufficient windfall pool available and therefore no amounts have
been recognized in income tax expense. In addition, the Company
accounts for the indirect effects of stock-based awards on other
tax attributes through the consolidated statements of
operations.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The gross
benefits of tax deductions in excess of recognized compensation
costs are reported as financing cash inflows, but only when such
excess tax benefits are realized by a reduction to current taxes
payable.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The following
table summarizes the excess tax benefit that the Company recorded
for the years ended December 31, 2014, 2013 and 2012 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<!-- Begin Table Head -->
<tr>
<td width="70%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<!-- End Table Head --><!-- Begin Table Body -->
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Excess tax benefit from
stock-based compensation, net</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,743</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">8,226</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">7,122</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<!-- End Table Body --></table>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">This tax
benefit has been recorded as additional paid-in capital on the
Company’s consolidated balance sheets.</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 18px">
 </p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 0px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Income
Taxes</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
recognizes income taxes using an asset and liability approach. This
approach requires the recognition of deferred tax liabilities and
assets for the future tax consequences of events that have been
recognized in the Company’s consolidated financial statements
or tax returns. The measurement of deferred taxes is based on
provisions of the enacted tax law and the effects of future changes
in tax laws or rates are not anticipated. A valuation allowance is
recognized if, based on the weight of available evidence, it is
more likely than not that some portion or all of the deferred tax
asset will not be realized. Evaluating the need for an amount of a
valuation allowance for deferred tax assets requires significant
judgment and analysis of the positive and negative evidence
available, including past operating results, estimates of future
taxable income, reversals of existing taxable temporary differences
and the feasibility of tax planning in order to determine whether
all or some portion of the deferred tax assets will not be
realized. Based on the available evidence and judgment, the Company
has determined that it is more likely than not that certain loss
carryforwards will not be realized; therefore, the Company has
established a valuation allowance for such deferred tax assets to
reduce the loss carryforward assets to amounts expected to be
utilized.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company may
be subject to income tax audits by the respective tax authorities
in any or all of the jurisdictions in which the Company operates.
The Company is currently undergoing an audit in the United States
as well as at its subsidiary in the United Kingdom. Significant
judgment is required in determining uncertain tax positions. The
Company recognizes the benefit of uncertain income tax positions
only if these positions are more likely than not to be sustained.
Also, the recognized income tax benefit is measured at the largest
amount that is more than 50% likely of being realized. The Company
adjusts these reserves in light of changing facts and
circumstances, such as the closing of an audit or the refinement of
an estimate. Changes in recognition or measurement are reflected in
the period in which the change in judgment occurs. The Company
records interest and penalties related to unrecognized tax benefits
as a component of income tax expense. The countries in which the
Company may be subject to potential examination by tax authorities
include Australia, Brazil, Colombia, France, Germany, Italy, the
Netherlands, New Zealand, Singapore, Spain, Switzerland, Thailand,
the United Kingdom and the United States.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The calculation
of the Company’s tax liabilities involves the inherent
uncertainty associated with the application of complex tax laws. As
a multinational corporation, the Company conducts its business in
many countries and is subject to taxation in many jurisdictions.
The taxation of the Company’s business is subject to the
application of various and sometimes conflicting tax laws and
regulations as well as multinational tax conventions. The
Company’s effective tax rate is highly dependent upon the
geographic distribution of its worldwide earnings or losses, the
tax regulations and tax rates in each geographic region, the
availability of tax credits and carryforwards, and the
effectiveness of its tax planning strategies. The application of
tax laws and regulations is subject to legal and factual
interpretation, judgment and uncertainty. Tax laws themselves are
subject to change as a result of changes in fiscal policy, changes
in legislation, and the evolution of regulations and court rulings.
Consequently, taxing authorities may impose tax assessments or
judgments against the Company that could materially impact its tax
liability and/or its effective income tax rate. The Company
believes it has adequately provided in its financial statements for
additional taxes that it estimates may be assessed by the various
taxing authorities. While the Company believes that it has
adequately provided for all uncertain tax positions, amounts
asserted by tax authorities could be greater or less than the
Company’s accrued position. These tax liabilities, including
the interest and penalties, are adjusted pursuant to a settlement
with tax authorities, completion of audit, refinement of estimates
or expiration of various statutes of limitation.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Foreign
Currency Translation</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The functional
currency of the Company’s foreign subsidiaries is generally
their respective local currency. The financial statements of the
Company’s international operations are translated into U.S.
dollars using the exchange rate at each balance sheet date for
assets and liabilities, the historical exchange rate for
stockholders’ equity, and a weighted average exchange rate
for each period for revenue, expenses, and gains and losses.
Foreign currency translation adjustments are recorded as a separate
component of stockholders’ equity. Gains and losses from
foreign currency denominated transactions are recorded in other
income (expense) in the Company’s consolidated statements of
operations.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The following
table summarizes the foreign exchange loss that the Company
recorded for the years ended December 31, 2014, 2013 and 2012
(in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<!-- Begin Table Head -->
<tr>
<td width="70%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<!-- End Table Head --><!-- Begin Table Body -->
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Foreign exchange
loss</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">7,138</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">5,964</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,618</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<!-- End Table Body --></table>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Derivative Financial Instruments</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">As a result of
the Company’s international operations, it is exposed to
various market risks that may affect its consolidated results of
operations, cash flows and financial position. These market
risks include, but are not limited to, fluctuations in currency
exchange rates. The Company’s primary foreign currency
exposures are in Euros, British Pound Sterling and Australian
Dollars. As a result, the Company faces exposure to adverse
movements in currency exchange rates as the financial results of
its operations are translated from local currency into U.S. dollars
upon consolidation. Additionally, foreign exchange rate
fluctuations on transactions denominated in currencies other than
the functional currency result in gains and losses that are
reflected in other income (expense) in the Company’s
consolidated statements of operations.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company may
enter into derivative instruments to hedge certain net exposures of
nonfunctional currency denominated assets and liabilities,
primarily related to intercompany loans, even though it does not
elect to apply hedge accounting or hedge accounting does not
apply. Gains and losses resulting from a change in fair value
for these derivatives are reflected in the period in which the
change occurs and are recognized on the consolidated statement of
operations in other income (expense). Cash flows from these
contracts are classified within cash flows from investing
activities on the consolidated statements of cash flows.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The Company
does not use financial instruments for trading or speculative
purposes. The Company recognizes all derivative instruments on
the balance sheet at fair value and its derivative instruments are
generally short-term in duration. The Company is exposed to
the risk that counterparties to derivative contracts may fail to
meet their contractual obligations.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The following
table shows the fair value and notional amounts of the
Company’s outstanding or unsettled derivative instruments
that are not designated as hedging instruments covering foreign
currency exposures during the year ended December 31, 2014 and
closing January 2, 2015 (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<!-- Begin Table Head -->
<tr>
<td width="41%"></td>
<td valign="bottom" width="10%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="10%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom" nowrap="nowrap">
<p style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; WIDTH: 77pt">
<font style="FONT-FAMILY: Times New Roman" size="1"><b>Balance Sheet Caption</b></font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>December 31,
2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Significant Other<br />
Observable Inputs<br />
(Level 2)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>U.S. Dollar<br />
Notional</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gross Amount of<br />
Recognized<br />
Assets/Liabilities</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gross Amounts<br />
Offset in the<br />
Balance Sheet</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Net Amount<br />
Presented in the<br />
Balance Sheet</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" colspan="2"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<!-- End Table Head --><!-- Begin Table Body -->
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Prepaid expenses and other
current assets</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">4,506</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"> —  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">4,506</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">157,164</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Accrued expenses</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(67</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">11,562</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">4,439</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"> —  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">4,439</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">168,726</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<!-- End Table Body --></table>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">In addition to
the notional amounts listed above, the Company also had
$165,454,000 of derivatives entered into on December 31, 2014
with a closing date of April 2, 2015.</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">The following
table shows the fair value and notional amounts of the
Company’s outstanding or unsettled derivative instruments
that are not designated as hedging instruments covering foreign
currency exposures during the year ended December 31, 2013 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">
 </p>
<table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<!-- Begin Table Head -->
<tr>
<td width="43%"></td>
<td valign="bottom" width="10%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="10%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom" nowrap="nowrap">
<p style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; WIDTH: 77pt">
<font style="FONT-FAMILY: Times New Roman" size="1"><b>Balance Sheet Caption</b></font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>December 31,
2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Significant Other<br />
Observable Inputs<br />
(Level 2)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>U.S. Dollar<br />
Notional</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gross Amount of<br />
Recognized<br />
Assets/Liability</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Gross Amounts<br />
Offset in the<br />
Balance Sheet</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Net Amount<br />
Presented in the<br />
Balance Sheet</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" colspan="2"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<!-- End Table Head --><!-- Begin Table Body -->
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Prepaid expenses and other
current assets</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">363</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"> —  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">363</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">20,520</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Accrued expenses</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(979</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(979</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">84,292</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(616</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"> —  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">(616</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">104,812</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
<!-- End Table Body --></table>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Net
Income Per Share Attributable to HomeAway, Inc.</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Basic net
income per share is computed by dividing net income attributable to
HomeAway, Inc. by the weighted average number of common shares
outstanding during the period. Diluted income per share is computed
by dividing net income attributable to HomeAway, Inc. by the
weighted average common shares outstanding plus potentially
dilutive common shares. The dilutive effect of outstanding options,
warrants and awards is reflected in diluted earnings per share by
application of the treasury stock method.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Restricted
stock awards provide the holder of unvested shares the right to
participate in dividends declared on the Company’s common
stock. Accordingly, these shares are included in the weighted
average shares outstanding for the computation of basic earnings
per share in periods of undistributed earnings. Restricted stock
awards are excluded from the basic earnings per share in periods of
undistributed losses as the holders are not contractually obligated
to participate in the losses of the Company. Unvested restricted
stock units do not provide the holder the right to participate in
dividends declared on the Company’s common stock.
Accordingly, these shares are excluded in the weighted average
shares outstanding for the computation of basic earnings per share
in periods of undistributed earnings or losses.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Comprehensive Income (Loss) Attributable to HomeAway,
Inc.</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Comprehensive
income (loss) attributable to HomeAway, Inc. consists of net income
(loss), cumulative foreign currency translation adjustments,
unrealized gain (loss) on available-for-sale securities and
comprehensive income (loss) attributable to noncontrolling
interests.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Concentrations</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Financial
instruments that potentially expose the Company to concentrations
of credit risk consist primarily of cash and cash equivalents and
short-term investments. The Company’s cash is deposited in
financial institutions. However, cash and cash equivalents may
exceed federally insured limits from time to time. The Company has
not experienced any losses on its deposits.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Reclassifications</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">Certain
reclassifications have been made to prior periods’
consolidated balance sheets and statements of operations to conform
to the current period presentation. These reclassifications did not
result in any change in previously reported total revenue, net
income, total assets or shareholders’ equity.</font></p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 18px">
 </p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 0px">
<font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Recent
Accounting Pronouncements</i></b></font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">In May 2014,
the FASB issued ASU No. 2014-09, Revenue from Contracts with
Customers, requiring an entity to recognize the amount of revenue
to which it expects to be entitled for the transfer of promised
goods or services to customers. The updated standard will replace
most existing revenue recognition guidance in U.S. GAAP when it
becomes effective and permits the use of either the retrospective
or cumulative effect transition method. Early adoption is not
permitted. The updated standard is effective for fiscal years, and
interim reporting periods within those years, beginning after
December 15, 2016. The Company has not yet selected a
transition method and is currently evaluating the effect that the
updated standard will have on its consolidated financial statements
and related disclosures.</font></p>
<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%">
<font style="FONT-FAMILY: Times New Roman" size="2">In August 2014,
the FASB issued ASU No. 2014-15, Presentation of Financial
Statements – Going Concern, Disclosure of Uncertainties about
an Entity’s Ability to Continue as a Going Concern, related
to the disclosures around going concern. The new standard provides
guidance around management’s responsibility to evaluate
whether there is substantial doubt about an entity’s ability
to continue as a going concern and to provide related footnote
disclosures. The new standard is effective for fiscal years, and
interim periods within those fiscal years, beginning after
December 15, 2016. Early adoption is permitted. The adoption
of this standard is not expected to have a material impact on the
Company’s financial statements.</font></p>
</div>
0001366684
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Impairment of Long-lived Assets</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
The Company evaluates long-lived assets held for use, such as
property and equipment, for impairment whenever events or changes
in circumstances indicate the carrying value of an asset may not be
recoverable. An impairment loss is recognized when estimated future
undiscounted cash flows expected to result from the use of the
asset plus net proceeds expected from disposition of the asset, if
any, are less than the carrying value of the asset. When an
impairment loss is recognized, the carrying amount of the asset is
reduced to its estimated fair value in the period in which the
determination is made. No material impairments of long-lived assets
have been recorded during any of the periods presented.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Recent Accounting Pronouncements</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
In May 2014, the FASB issued ASU No. 2014-09, Revenue from
Contracts with Customers, requiring an entity to recognize the
amount of revenue to which it expects to be entitled for the
transfer of promised goods or services to customers. The updated
standard will replace most existing revenue recognition guidance in
U.S. GAAP when it becomes effective and permits the use of either
the retrospective or cumulative effect transition method. Early
adoption is not permitted. The updated standard is effective for
fiscal years, and interim reporting periods within those years,
beginning after December 15, 2016. The Company has not yet
selected a transition method and is currently evaluating the effect
that the updated standard will have on its consolidated financial
statements and related disclosures.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
In August 2014, the FASB issued ASU No. 2014-15, Presentation
of Financial Statements – Going Concern, Disclosure of
Uncertainties about an Entity’s Ability to Continue as a
Going Concern, related to the disclosures around going concern. The
new standard provides guidance around management’s
responsibility to evaluate whether there is substantial doubt about
an entity’s ability to continue as a going concern and to
provide related footnote disclosures. The new standard is effective
for fiscal years, and interim periods within those fiscal years,
beginning after December 15, 2016. Early adoption is
permitted. The adoption of this standard is not expected to have a
material impact on the Company’s financial statements.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>15.
Employee Benefit Plans</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The Company
administers various employer-sponsored retirement plans in
Colombia, France, Germany, Italy, Spain, Switzerland, the United
Kingdom and the United States. The various plans allow for employer
matching contributions to be made into the plans. Our total expense
for these retirement plans is presented below (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Retirement plan
contribution expense</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,975</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,907</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,185</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>5.
Property and Equipment, net</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Property and
equipment consists of the following at December 31, 2014 and
2013, respectively, (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="71%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Computer equipment and
purchased software</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">31,566</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">24,074</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Internal-use software and
website development costs</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">36,038</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">30,523</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Furniture and
fixtures</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,915</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Leasehold
improvements</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">20,922</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">96,441</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">74,595</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Less accumulated
depreciation</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(40,268</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(34,788</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">56,173</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">39,807</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table summarizes the depreciation expense that the Company recorded
for the years ended December 31, 2014, 2013 and 2012 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="67%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Depreciation
expense</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,926</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,399</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,051</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<br class="Apple-interchange-newline" /></div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Our total
expense for these retirement plans is presented below (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Retirement plan
contribution expense</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,975</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,907</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,185</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following table shows the fair value and notional amounts of
the Company’s outstanding or unsettled derivative instruments
that are not designated as hedging instruments covering foreign
currency exposures during the year ended December 31, 2014 and
closing January 2, 2015 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="51%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom" nowrap="nowrap">
<p style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 77.3pt">
<b>Balance Sheet Caption</b></p>
</td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="14" nowrap="nowrap" align="center"><b>December 31,
2014</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" nowrap="nowrap" align="center">
<b>Significant Other<br />
Observable Inputs<br />
(Level 2)</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">
<b>U.S. Dollar<br />
Notional</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">
<b>Gross Amount of<br />
Recognized<br />
Assets/Liabilities</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">
<b>Gross Amounts<br />
Offset in the<br />
Balance Sheet</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Net Amount<br />
Presented in the<br />
Balance Sheet</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" colspan="2"> </td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Prepaid expenses and other current assets</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">4,506</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">4,506</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">157,164</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Accrued expenses</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(67</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(67</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">11,562</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Total</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">4,439</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">4,439</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">168,726</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
In addition to the notional amounts listed above, the Company also
had $165,454,000 of derivatives entered into on December 31,
2014 with a closing date of April 2, 2015.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following table shows the fair value and notional amounts of
the Company’s outstanding or unsettled derivative instruments
that are not designated as hedging instruments covering foreign
currency exposures during the year ended December 31, 2013 (in
thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="49%"></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom" nowrap="nowrap">
<p style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 77.3pt">
<b>Balance Sheet Caption</b></p>
</td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="14" nowrap="nowrap" align="center"><b>December 31,
2013</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" nowrap="nowrap" align="center">
<b>Significant Other<br />
Observable Inputs<br />
(Level 2)</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">
<b>U.S. Dollar<br />
Notional</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">
<b>Gross Amount of<br />
Recognized<br />
Assets/Liability</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center">
<b>Gross Amounts<br />
Offset in the<br />
Balance Sheet</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Net Amount<br />
Presented in the<br />
Balance Sheet</b></td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" colspan="2"> </td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Prepaid expenses and other current assets</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">363</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">363</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"> </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">20,520</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Accrued expenses</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(979</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">(979</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">84,292</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Total</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(616</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">(616</td>
<td valign="bottom" nowrap="nowrap">) </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">104,812</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
</div>
<div>
<br class="Apple-interchange-newline" />
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="49%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Date</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Proceeds<br />
(in thousands)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Shares</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Strike<br />
Price</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Warrants</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">March 2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">38,278</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,716,049</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">81.14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Business Segment</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
The Company has one operating segment consisting of various
products and services related to its online marketplace of
accommodation rental listings. The Company’s chief operating
decision maker is considered to be the Chief Executive Officer. The
chief operating decision maker allocates resources and assesses
performance of the business and other activities at the single
operating segment level.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The weighted
average grant date fair value of the options and restricted stock
are summarized as follows:</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Per share of options
granted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13.46</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13.81</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">12.07</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Per share of restricted
stock and restricted stock units granted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">36.33</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">29.36</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">24.88</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
0.4250
0.0178
FY
9951000
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>11.
Accumulated Other Comprehensive Loss</b></font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Accumulated
other comprehensive loss consists of the following at
December 31, 2014 and 2013, respectively (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="74%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Foreign currency
translation</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(27,252</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(6,728</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Unrealized losses on
short-term investments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(801</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(28,053</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(6,747</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Concentrations</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Financial instruments that potentially expose the Company to
concentrations of credit risk consist primarily of cash and cash
equivalents and short-term investments. The Company’s cash is
deposited in financial institutions. However, cash and cash
equivalents may exceed federally insured limits from time to time.
The Company has not experienced any losses on its deposits.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Fair Value of Financial Instruments</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Fair value is defined as the price that would be received from the
sale of an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. To
increase the comparability of fair value measures, the following
hierarchy prioritizes the inputs to valuation methodologies used to
measure fair value:</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="98%" align="center" border="0">
<tr>
<td width="6%"></td>
<td valign="bottom" width="2%"></td>
<td width="92%"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">Level 1:</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="top">Valuations based on quoted prices for identical
assets and liabilities in active markets.</td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="8"></td>
<td height="8" colspan="2"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">Level 2:</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="top">Valuations based on observable inputs other than
quoted prices included in Level 1, such as quoted prices for
similar assets and liabilities in active markets, quoted prices for
identical or similar assets and liabilities in markets that are not
active, or other inputs that are observable or can be corroborated
by observable market data.</td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="8"></td>
<td height="8" colspan="2"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">Level 3:</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="top">Valuations based on unobservable inputs reflecting
the Company’s own assumptions, consistent with reasonably
available assumptions made by other market participants. These
valuations require significant judgment.</td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following section describes the valuation methodologies used to
measure certain financial assets and financial liabilities at fair
value.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Cash Equivalents, Restricted Cash and Short-Term
Investments</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
The Company’s cash equivalents, restricted cash and
short-term investments classified as Level 1 are valued using
quoted prices generated by market transactions involving identical
assets. Short-term investments classified as Level 2 are valued
using non-binding market consensus prices that are corroborated
with observable market data; quoted market prices for similar
instruments in active markets; or pricing models, such as a
discounted cash flow model, with all significant inputs derived
from or corroborated with observable market data. The Company did
not hold any cash equivalents, restricted cash or short-term
investments categorized as Level 3 as of December 31, 2014 or
2013.</p>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%">
Short-term investments include time deposits, corporate bonds,
municipal bonds and commercial paper and are classified as
available-for-sale and reported at fair value using the specific
identification method. Unrealized gains and losses are excluded
from earnings and reported as a component of other comprehensive
income (loss), net of related estimated tax provisions or benefits.
Additionally, the Company periodically assesses whether an other
than temporary impairment loss on investments has occurred due to
declines in fair value or other market conditions. Declines in fair
value that are considered other than temporary are recorded as an
impairment in the consolidated statement of operations. The Company
did not record any impairments of its investments for any of the
periods presented.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The carrying amounts of certain of the Company’s financial
instruments, including cash and cash equivalents, accounts
receivable, prepaid expenses and other current assets, accounts
payable, accrued liabilities and deferred revenue approximate fair
value because of the relatively short maturity of these
instruments.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following table summarizes the basis used to measure certain
financial assets at fair value on a recurring basis in the
Company’s consolidated balance sheets at December 31,
2014 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="51%"></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Balance as of</b><br />
<b>December 31,</b><br />
<b>2014</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Quoted Prices in<br />
Active Markets<br />
for Identical<br />
Assets (Level 1)</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Significant Other<br />
Observable<br />
Inputs (Level 2)</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Significant<br />
Unobservable<br />
Inputs<br />
(Level 3)</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
<b>Assets</b></p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Cash equivalents</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Money market funds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">183,008</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">183,008</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,001</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,001</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total cash equivalents</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">184,009</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">183,008</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,001</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Restricted cash</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Time deposits</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,058</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,058</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total restricted cash</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,058</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,058</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Certificates of deposit</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">21,726</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">21,726</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Corporate bonds</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">353,212</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">353,212</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">140,406</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">140,406</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
International government bonds</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,501</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,501</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Commercial paper</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,999</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,999</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">520,844</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">520,844</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total financial assets</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">706,911</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">183,008</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">523,903</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%">
The following table summarizes the basis used to measure certain
financial assets at fair value on a recurring basis in the
Company’s consolidated balance sheets at December 31,
2013 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0">
<tr>
<td width="50%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Balance as of<br />
December 31,<br />
2013</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Quoted Prices in<br />
Active Markets<br />
for Identical<br />
Assets (Level 1)</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Significant Other<br />
Observable<br />
Inputs (Level 2)</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Significant<br />
Unobservable<br />
Inputs<br />
(Level 3)</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
<b>Assets</b></p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Cash equivalents</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Money market funds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">26,451</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">26,451</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total cash equivalents</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">26,451</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">26,451</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Restricted cash</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Money market funds</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">758</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">758</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total restricted cash</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">758</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">758</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Time deposits</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,054</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">2,054</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Corporate bonds</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33,257</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33,257</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">31,487</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">31,487</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">66,798</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">66,798</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em">
Total financial assets</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">94,007</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">27,209</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">66,798</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom" nowrap="nowrap">$</td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 0pt">
<b><i>Leases</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
The Company leases facilities in several countries around the world
and certain equipment under non-cancelable lease agreements. The
terms of certain lease agreements provide for rental payments on a
graduated basis. Rent expense is recognized on a straight-line
basis over the lease period and accrued as rent expense incurred
but not paid.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Reclassifications</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
Certain reclassifications have been made to prior periods’
consolidated balance sheets and statements of operations to conform
to the current period presentation. These reclassifications did not
result in any change in previously reported total revenue, net
income, total assets or shareholders’ equity.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Property and
equipment consists of the following at December 31, 2014 and
2013, respectively, (in thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="71%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Computer equipment and
purchased software</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">31,566</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">24,074</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Internal-use software and
website development costs</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">36,038</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">30,523</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Furniture and
fixtures</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,915</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Leasehold
improvements</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">20,922</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,999</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">96,441</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">74,595</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Less accumulated
depreciation</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(40,268</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(34,788</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">56,173</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">39,807</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Changes in
the Company’s redeemable noncontrolling interests for the
year ended December 31, 2014 and 2013 are as follows (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="84%"></td>
<td valign="bottom" width="8%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance at
December 31, 2012</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Fair value at
acquisition</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,966</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net loss attributable to
noncontrolling interests</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(395</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Currency translation
adjustments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance at
December 31, 2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,584</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net loss attributable to
noncontrolling interests</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,839</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Changes to redemption
value of noncontrolling interests</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,421</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Repurchase of redeemable
noncontrolling interests</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,461</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Currency translation
adjustments</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">37</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance at
December 31, 2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9,742</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table summarizes the Company’s acquisitions during the years
ended December 31, 2014, 2013 and 2012 with amounts shown
below as fair values at each respective acquisition date (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
<tr>
<td width="55%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Glad to Have<br />
You</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Stayz</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Bookabach</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>travelmob</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Toprural</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Year acquired</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2013</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2013</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2013</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2012</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1pt">
<td height="8"></td>
<td height="8" colspan="4"></td>
<td height="8" colspan="4"></td>
<td height="8" colspan="4"></td>
<td height="8" colspan="4"></td>
<td height="8" colspan="4"></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Net tangible assets
(liabilities) acquired</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Cash</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">4,942</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">395</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">63</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,220</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred
revenue</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(65</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,234</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(350</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(43</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(2,269</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Amounts payable to
property owners</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(4,187</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(194</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(473</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Other</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">17</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(365</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">228</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(123</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(315</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total tangible assets
(liabilities) acquired</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,844</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">79</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(576</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">636</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Deferred tax
liabilities</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,653</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(5,313</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(228</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(513</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(3,193</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Trade name</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,177</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,224</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">161</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">607</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,060</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Developed
technology</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,760</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,735</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">64</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,937</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,144</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Customer
relationships</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,643</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">18,288</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">446</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,123</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,440</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Goodwill</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,647</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">177,777</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,514</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,833</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,190</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Non-competition
agreements</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">240</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,387</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">300</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">150</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Redeemable noncontrolling
interests</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,938</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(9,028</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Aggregate purchase
price</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,791</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">197,254</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,398</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,533</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">19,277</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Less: cash
acquired</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(4,942</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(395</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(63</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(3,220</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,766</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">192,312</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,003</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,470</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,057</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom"> </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table summarizes the total stock-based compensation expense for the
years ended December 31, 2014, 2013 and 2012 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="67%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Cost of
revenue</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,245</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,064</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,675</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Product
development</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,174</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">9,515</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,642</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Sales and
marketing</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,805</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">8,488</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">6,629</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">General and
administrative</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">21,294</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,820</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">12,087</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top"></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">48,518</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">37,887</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">27,033</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">A summary of
the Company’s restricted stock activity under the 2004 Plan
and 2011 Plan is as follows:</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="81%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Number of<br />
Awards<br />
Outstanding</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Unvested balances at
December 31, 2012</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">806,317</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Awards granted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,658,132</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Awards vested</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(241,517</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Awards
forfeited</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(185,037</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Unvested balances at
December 31, 2013</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,037,895</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Awards granted</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,634,392</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Awards vested</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(565,733</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Awards
forfeited</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(251,599</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Unvested balances at
December 31, 2014</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,854,955</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The aggregate
changes in the balance of unrecognized tax benefits were as
follows, excluding interest and penalties (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="67%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>(in thousands)</b></font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance, beginning of
year</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,555</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,590</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">3,658</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Increases for tax
positions related to the current year</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,130</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,013</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,815</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Increases for tax
positions related to prior years</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2,166</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,702</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">1,135</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Decreases for tax
positions related to prior years</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(556</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(369</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(739</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Reductions due to lapsed
statute of limitations</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(1,221</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(381</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">(279</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">) </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Balance, end of
year</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">10,074</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,555</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">5,590</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt">
<b><i>Stock-Based Compensation</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
The cost of stock-based compensation is recognized in the financial
statements based upon the estimated grant date fair value of the
awards measured using the Black–Scholes valuation model. The
fair value of restricted stock awards and units is determined based
on the number of shares granted and the fair value of the
Company’s common stock as of the grant date. Fair value is
generally recognized as an expense on a straight-line basis, net of
estimated forfeitures, over the employee requisite service period.
When estimating forfeitures, the Company considers voluntary
termination behaviors as well as trends of actual option
forfeitures.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The Company uses the “with and without” approach in
determining the order in which tax attributes are utilized. As a
result, the Company only recognizes a tax benefit from stock-based
awards in additional paid-in capital if an incremental tax benefit
is realized after all other tax attributes currently available to
the Company have been utilized. When tax deductions from
stock-based awards are less than the cumulative book compensation
expense, the tax effect of the resulting difference is charged
first to additional paid-in capital to the extent of the
Company’s pool of windfall tax benefits with any remainder
recognized in income tax expense. The Company has determined that
it has a sufficient windfall pool available and therefore no
amounts have been recognized in income tax expense. In addition,
the Company accounts for the indirect effects of stock-based awards
on other tax attributes through the consolidated statements of
operations.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The gross benefits of tax deductions in excess of recognized
compensation costs are reported as financing cash inflows, but only
when such excess tax benefits are realized by a reduction to
current taxes payable.</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following table summarizes the excess tax benefit that the
Company recorded for the years ended December 31, 2014, 2013
and 2012 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="76%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" align="center"><b>Year Ended
December 31,</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2014</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2013</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2012</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Excess tax benefit from stock-based compensation, net</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,743</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">8,226</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">7,122</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
This tax benefit has been recorded as additional paid-in capital on
the Company’s consolidated balance sheets.</p>
</div>
1615116000
Yes
3663000
93727000
2166000
-20524000
501000
5716000
-328000
-6183000
-7212000
25386000
575606000
85853000
74823000
-21306000
3092000
13967000
1461000
4386000
87303000
17847000
-782000
40026000
2346000
7138000
-5537000
-18787000
1385000
21239000
2130000
25148000
-7182000
253000
2770000
0
371939000
446762000
31647000
13384000
1728000
3625000
48518000
2743000
38278000
328000
-571000
15523000
2403000
-1664000
-9472000
-43000
27222000
13333000
38278000
77082000
154995000
39000
13176000
67612000
-831000
3092000
816000
2305000
13554000
378000
13916000
-32283000
-5879000
511000
-2166000
7433000
7272000
2421000
0
1908000
16926000
-26098000
11647000
369501000
-919000
13137000
250000
1975000
331000
2430000
241000
1839000
-537676000
-1802000
25386000
59978000
5999000
406736000
-552000
6994000
390978000
93131000
2491000
583000
109516000
4358000
48518000
39140000
5502000
2231000
556000
1221000
37000
<div>
<br class="Apple-interchange-newline" />
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="51%"></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Date</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Purchase<br />
(in thousands)</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Shares<br />
underlying Note<br />
Hedges</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Note Hedges</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">March 2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">85,853</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">7,716,049</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
P5Y
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table summarizes the depreciation expense that the Company recorded
for the years ended December 31, 2014, 2013 and 2012 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="67%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Depreciation
expense</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">16,926</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,399</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">11,051</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt">
<b><i>Basis of Presentation</i></b></p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%">
The accompanying consolidated financial statements include the
accounts of HomeAway, Inc. and all of its wholly and majority-owned
subsidiaries and have been prepared in accordance with accounting
principles generally accepted in the United States. All significant
intercompany transactions and balances have been eliminated in
consolidation.</p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">Internationally, the following years remain open to
examination:</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="77%"></td>
<td valign="bottom" width="9%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom" nowrap="nowrap">
<p style="BORDER-BOTTOM: rgb(0,0,0) 1px solid; WIDTH: 40pt">
<font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Jurisdiction</b></font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Open Tax Years</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Germany</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><font style="WHITE-SPACE: nowrap">2011-2014</font></font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">France</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2012-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Brazil</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2009-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">United Kingdom</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2011-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Switzerland</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2010-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Australia</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2010-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Spain</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2010-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Thailand</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2013-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Singapore</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2011-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">New Zealand</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2010-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Colombia</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2013-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Italy</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">2013-2014</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" /></div>
<div>
<br class="Apple-interchange-newline" />
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="49%"></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="7%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Conversion<br />
Rate per $1,000<br />
Par Value</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Initial<br />
Conversion<br />
Price per<br />
Share</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Free<br />
Convertibility Date</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.125% Senior
Notes</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">19.1703</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">52.16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">October 1, 2018</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
3576000
-85853000
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following table summarizes the contractual underlying
maturities of the Company’s short-term investments at
December 31, 2014 and December 31, 2013 (in
thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" align="center"><b>December 31, 2014</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Less than<br />
1 Year</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>1 to 3 Years</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Total</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Time deposits</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">21,479</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">247</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">21,726</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Corporate bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">240,570</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">112,642</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">353,212</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">87,615</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">52,791</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">140,406</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
International government bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,501</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">1,501</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Commercial paper</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,999</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right">
—  </td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,999</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Total short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">355,164</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">165,680</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">520,844</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">
 </p>
<table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" align="center"><b>December 31, 2013</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Less than<br />
1 Year</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>1 to 3 Years</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>Total</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Time deposits</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">500</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">1,554</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,054</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Corporate bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">11,164</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">22,093</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">33,257</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Municipal bonds</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">3,031</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">28,456</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right">31,487</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em">
Total short-term investments</p>
</td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  14,695</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  52,103</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom"><font style="FONT-SIZE: 8pt">  </font></td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">  66,798</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: #000000 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
</div>
2742000
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%">
The Company recorded depreciation expense on internally developed
software and website development costs as follows for the years
ended December 31, 2014, 2013 and 2012 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="76%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" align="center"><b>Year Ended
December 31,</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2014</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2013</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2012</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Depreciation expense on internally developed software and website
development costs</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">5,471</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">3,939</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,874</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following table summarizes the foreign exchange loss that
the Company recorded for the years ended December 31, 2014,
2013 and 2012 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="76%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" align="center"><b>Year Ended
December 31,</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2014</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2013</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2012</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Foreign exchange loss</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">7,138</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">5,964</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,618</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The following
table sets forth total interest expense recognized related to the
Notes for the years ended December 31, 2014, 2013 and 2012 (in
thousands):</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="73%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2014</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">0.125% coupon</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">378</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Amortization of debt
issuance costs</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">39</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Amortization of debt
discount</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,137</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p>
</td>
<td> </td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Total</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">13,554</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">—  </font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr style="FONT-SIZE: 1px">
<td valign="bottom"></td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
<td valign="bottom">  </td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td valign="bottom">
<p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p>
</td>
<td> </td>
</tr>
</table>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
</div>
<div>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%">
The following table summarizes the excess tax benefit that the
Company recorded for the years ended December 31, 2014, 2013
and 2012 (in thousands):</p>
<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">
 </p>
<table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="84%" align="center" border="0">
<tr>
<td width="76%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="10" align="center"><b>Year Ended
December 31,</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2014</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2013</b></td>
<td valign="bottom"> </td>
<td valign="bottom">  </td>
<td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>2012</b></td>
<td valign="bottom"> </td>
</tr>
<tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF">
<td valign="top">
<p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em">
Excess tax benefit from stock-based compensation, net</p>
</td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">2,743</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">8,226</td>
<td valign="bottom" nowrap="nowrap">  </td>
<td valign="bottom">  </td>
<td valign="bottom">$</td>
<td valign="bottom" align="right">7,122</td>
<td valign="bottom" nowrap="nowrap">  </td>
</tr>
</table>
</div>
5075000
473000
57000
7716000
38278000
2178000
2009
2013
2011
2013
2013
2011
2011
2010
2010
2010
2012
2010
P5Y1M6D
P13Y
2015-06-30
2016-12-31
2015-06-30
2017-02-01
2013
2010
P10Y
P14Y
P8Y
P5Y
P4Y11M5D
P2Y
2014-10-31
2014-10-31
2011
2005
P5Y
P6Y
P2Y
P2Y
2014
2014
2014
2014
2014
2014
2014
2014
2014
2014
2014
2014
262412000
310000
Indefinite
24410000
48996000
25888000
59306000
25750000
21294000
13174000
3245000
10805000
P5Y
5471000
Shorter of the contractual lease period or their useful life.
P3Y
-21306000
15805000
2154000
25386000
87303000
-2421000
48518000
2743000
38278000
-85853000
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2"> The unaudited pro forma
supplemental information prepared by the Company is not necessarily
indicative of the results expected in future periods or the results
that actually would have been realized had the acquired business
and the Company been a combined company during the specified
periods.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="76%" align="center" border="0">
<tr>
<td width="70%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2013</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Pro forma total
revenue</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">370,620</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">305,904</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Pro forma net
income</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">28,687</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">17,855</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
511000
<div>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px">
<font style="FONT-FAMILY: 'Times New Roman'" size="2">The unaudited
pro forma supplemental information prepared by the Company is not
necessarily indicative of the results expected in future periods or
the results that actually would have been realized had the acquired
business and the Company been a combined company during the
specified periods.</font></p>
<p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12px 'Times New Roman'; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">
 </p>
<table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0">
<tr>
<td width="80%"></td>
<td valign="bottom" width="10%"></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>Year Ended<br />
December 31,</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1">  </font></td>
<td style="BORDER-BOTTOM: rgb(0,0,0) 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: 'Times New Roman'" size="1"><b>2012</b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#CCEEFF">
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Pro forma total
revenue</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2">$</font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">281,858</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: 'Times New Roman'" size="2">Pro forma net
income</font></p>
</td>
<td valign="bottom"><font size="1">  </font></td>
<td valign="bottom"><font style="FONT-FAMILY: 'Times New Roman'" size="2"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: 'Times New Roman'" size="2">14,959</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: 'Times New Roman'" size="2">  </font></td>
</tr>
</table>
<br class="Apple-interchange-newline" />
</div>
P6Y6M
16766000
16791000
25000
Two business days following the first anniversary date of the acquisition.
250000
P8Y
P3Y
P10Y
P5Y
P10Y
471000
846000
2270000
169000
19.1703
2018-10-01
85853000
7716049
2014-03
20
During any calendar quarter commencing after June 30, 2014, if, for at least 20 trading days during the 30 consecutive trading day period ending on the last trading day of the immediately preceding calendar quarter, the last reported sales price of the Company's common stock for such trading day is greater than or equal to 130% of the applicable conversion price for the Notes on each applicable trading day
2019-04-01
1.30
0.98
1.00
P5D
P48M
P48M
Expire between 2018 and 2030
1351000
2020-2024
2018-Indefinite
14349000
750000
2025-2034
10323000
2025-2034
8386000
2027-2034
1857000
2034
517000
2018-2020
In addition, the number of shares available for issuance under the 2011 Plan will be increased annually on the first day of the Company's fiscal year by an amount equal to the least of (a) four percent of the outstanding shares of the Company's common stock as of the last day of the Company's immediately preceding fiscal year or (b) such other amount as the Company's board of directors may determine.
0.04
0.18
0.5060
2560000
12.07
95403000
24.88
0.0000
0.0078
P7Y6M
84942000
0.18
0.5540
0.0132
5158000
1242000
82382000
1135000
767000
-773000
8202000
-1910000
-817000
-2409000
25878000
57080000
41991000
1030000
7122000
14961000
6987000
16207000
263000
29795000
2618000
15991000
-1659000
9105000
28136000
1815000
6446000
-2587000
238413000
280404000
17260000
14961000
928000
-251000
27033000
7122000
1910000
672000
19934000
541000
-3119000
842000
-1198000
22401000
43152000
93366000
45342000
-524000
7122000
2325000
11486000
12438000
71270000
-5425000
-2481000
9848000
13175000
0
1582000
11051000
33000000
1105000
1185000
355000
1679000
4457000
-57975000
25878000
37559000
9625000
250609000
647000
4492000
56311000
3376000
40406000
27033000
40394000
7976000
418000
739000
279000
713000
251000
7000
5151000
P5Y9M29D
P5Y7M2D
173078000
16194000
35656000
1141000
42451000
11884000
12087000
5642000
2675000
6629000
2874000
1030000
14961000
2756000
25878000
27033000
7122000
17855000
305904000
P7Y4M24D
16057000
14959000
19277000
281858000
3220000
P8Y
P10Y
P4Y
647000
439000
753000
339000
86492000
0.06
83940000
79464000
5295000
96295000
0.05
92699000
105682000
4443000
--10-01
--04-01
2014-10-01
87647000
0.06
84920000
86608000
5470000
96011000
0.04
93671000
114256000
3867000
88215000
0.10
85452000
90148000
8478000
96389000
0.05
94106000
117112000
4912000
90144000
-0.02
87111000
90269000
-1557000
96600000
0.00
94378000
109712000
162000
796000
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