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Acquisitions | 12 Months Ended
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Dec. 31, 2020
Business Combinations [Abstract] |
Acquisitions | Acquisitions Subsequent to 2020 On January 13, 2021, the Company acquired Roger, a global accounts payable (AP) cloud software platform for small businesses located in Denmark, for approximately $40 million. This acquisition is not expected to be material to the financial results of the Company. 2020 Acquisitions On August 10, 2020, the Company completed the acquisition of a business in the lodging space in the U.S. The results from the acquisition are reported in the North America segment. On November 30, 2020, the Company completed the acquisition of a fuel card provider in New Zealand. The results from the acquisition are reported in the International segment. The aggregate purchase price of these acquisitions was approximately $78 million, net of cash acquired. The Company financed these acquisitions using a combination of available cash and borrowings under its existing credit facility. The Company signed noncompete agreements with certain parties affiliated with the lodging business with an estimated fair value of $3.8 million. These noncompete agreements were accounted for separately from the business acquisitions. The following table summarizes the preliminary acquisition accounting for these acquisitions (in thousands):
Trade and other receivables |  | $ | 5,031 |
Prepaid expenses and other current assets |  | 930 |
Property, plant and equipment |  | 3,178 |
Other long term assets |  | 1,049 |
Goodwill |  | 28,934 |
Intangibles |  | 40,850 |
Liabilities |  | (1,204) |
Other noncurrent liabilities |  | (782) |
Aggregate purchase price |  | $ | 77,986 |
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 |  | 5 |  | $ | 1,800 |
Licensed Software and Technology |  | 10 |  | 4,400 |
Proprietary Technology |  | 5 |  | 8,400 |
Supplier Network |  | 10 |  | 300 |
Customer Relationships |  | 16 |  | 25,950 |
|  |  |  | $ | 40,850 |
The accounting for these acquisitions is preliminary as the Company is still completing the valuation of certain goodwill, intangible assets, income taxes and working capital adjustments. 2019 Acquisitions During 2019, the Company completed acquisitions with an aggregate purchase price of $417 million. On April 1, 2019, the Company completed the acquisition of NvoicePay, a provider of full accounts payable automation for businesses. The aggregate purchase price of this acquisition was approximately $208 million, net of cash acquired of $4.1 million. This acquisition further expanded the Company's corporate payments product offering. The Company financed the acquisition using a combination of available cash and borrowings under its existing credit facility. The results from NvoicePay are reported in the North America segment. Along with the acquisition of NvoicePay, the Company signed noncompete agreements with certain parties with an estimated fair value of $10.7 million that were accounted for separately from the business acquisition. The following table summarizes the final acquisition accounting for NvoicePay (in thousands):
Trade and other receivables |  | $ | 1,513 |
Prepaid expenses and other current assets |  | 396 |
Property, plant and equipment |  | 1,030 |
Other long term assets |  | 5,612 |
Goodwill |  | 168,990 |
Intangibles |  | 44,750 |
Liabilities |  | (4,415) |
Other noncurrent liabilities |  | (6,130) |
Deferred tax liabilities |  | (4,178) |
Aggregate purchase price |  | $ | 207,568 |
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 |  | Indefinite |  | $ | 8,700 |
Proprietary Technology |  | 6 |  | 15,600 |
Referral Partners |  | 10 |  | 810 |
Supplier Network |  | 10 |  | 2,640 |
Customer Relationships |  | 16 |  | 17,000 |
|  |  |  | $ | 44,750 |
Other During 2019, the Company acquired SOLE Financial, a payroll card provider in the U.S.; r2c, a fleet maintenance, compliance and workshop management software provider in the U.K.; and Travelliance, an airline lodging provider in the U.S. The aggregate purchase price of these acquisitions was approximately $209 million, net of cash. The Company signed noncompete agreements with certain parties with an estimated fair value of $8.1 million that were accounted for separately from the business acquisitions. The following table summarizes the final acquisition accounting for these acquisitions (in thousands):
Trade and other receivables |  | $ | 92,990 |
Prepaid expenses and other current assets |  | 1,833 |
Property, plant and equipment |  | 922 |
Other long term assets |  | 4,593 |
Goodwill |  | 123,487 |
Intangibles |  | 80,726 |
Liabilities |  | (78,858) |
Other noncurrent liabilities |  | (4,657) |
Deferred tax liabilities |  | (11,188) |
Aggregate purchase price |  | $ | 209,848 |

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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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- References No definition available. + Details
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