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Acquisitions | 12 Months Ended
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Dec. 31, 2018
Business Combinations [Abstract] |
Acquisitions | Acquisitions 2018 Acquisitions During 2018, the Company completed an acquisition with an aggregate purchase price of $21.2 million, net of cash acquired of $11.0 million and made deferred payments of $3.8 million related to acquisitions occurring in prior years. During 2018, the Company made investments in other businesses of $17.0 million and payments on a seller note of $1.6 million. The Company financed the acquisitions using a combination of existing cash and borrowings under its existing credit facility. The accounting for the acquisitions is preliminary as the Company is still completing the valuation of goodwill, intangible assets, income taxes and evaluation of acquired contingencies. 2017 Acquisitions During 2017, the Company completed acquisitions with an aggregate purchase price of $725.1 million, net of cash acquired of $96.3 million and inclusive of notes payable of $29.3 million. During 2017, the Company made investments in other businesses of $39 million. Cambridge Global Payments On August 9, 2017, the Company acquired Cambridge, a leading business to business (B2B) international payments provider, for approximately $616.0 million in cash, net of cash acquired of $94.5 million and inclusive of a note payable of $23.8 million. Cambridge processes B2B cross-border payments, assisting business clients in making international payments. The purpose of this acquisition is to further expand the Company's corporate payments footprint. The Company financed the acquisition using a combination of existing cash and borrowings under its existing credit facility. The results from Cambridge are reported in its North America segment. The following table summarizes the acquisition accounting for Cambridge (in thousands):
Restricted cash | $ | 37,666 |
Trade and other receivables | 61,806 |
Prepaid expenses and other current assets | 15,190 |
Property and equipment | 7,106 |
Other long term assets | 10,025 |
Goodwill | 500,212 |
Customer relationships and other identifiable intangible assets | 271,793 |
Liabilities assumed | (197,335 | )
Deferred tax liabilities | (90,483 | )
Aggregate purchase price | $ | 615,980 |
The estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands):
| Useful Lives (in Years) | Value
Banking relationships | 20 | $ | 705 |
Trade name and trademarks | Indefinite | 35,110 |
Technology | 5 | 16,039 |
Customer relationships - excluding Accounts Payable Solutions | 7-18 | 178,190 |
Customer relationships - Accounts Payable Solutions | 20 | 41,749 |
|  | $ | 271,793 |
Along with the Company's acquisition of Cambridge, the Company signed noncompete agreements with certain parties with an estimated fair value of $5.8 million. Goodwill recorded is comprised primarily of expected synergies from combining the operations of the Company and Cambridge, as well as assembled workforce. Other During 2017, the Company acquired Creative Lodging Solutions ("CLS"), a small lodging tuck-in business, and a fuel card provider in Russia for approximately $109.1 million, net of cash acquired of $1.8 million and inclusive of a note payable of $5.5 million. The Company financed the acquisitions using a combination of existing cash and borrowings under its existing credit facility. The following table summarizes the acquisition accounting for the acquisitions (in thousands):
Trade and other receivables | $ | 38,038 |
Prepaid expenses and other | 1,426 |
Property and equipment | 5,745 |
Goodwill | 59,946 |
Other intangible assets | 53,459 |
Liabilities assumed | (32,274 | )
Deferred tax liabilities | (17,218 | )
Aggregate purchase prices | $ | 109,122 |
The estimated fair value of intangible assets acquired and the related estimated useful lives consisted of the following (in thousands):
| Useful Lives (in Years) | Value
Trade name and trademarks | 1 | $ | 180 |
Technology | 4 | 1,750 |
Customer relationships | 8-10 | 51,529 |
|  | $ | 53,459 |
Along with the Company's acquisition of CLS, the Company signed noncompete agreements with certain parties with an estimated fair value of $3.9 million.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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Balance Type: | na
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- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
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Period Type: | duration