XML 38 R28.htm IDEA: XBRL DOCUMENT
v3.22.2.2

ACQUISITIONS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of business acquisitions by acquisition | The total consideration transferred in the acquisition was $258.0 million, consisting of the following (in thousands):
Cash | $ | 151,424 |
Cash payable | 126 |
Class A common stock of the Company | 103,977 |
RSUs for shares of the Company’s Class A common stock | 2,457 |
Total purchase consideration | $ | 257,984 |
The total consideration transferred in the acquisition was $275.1 million, consisting of the following (in thousands):
Cash | $ | 56,726 |
Cash payable | 10,442 |
Class A common stock of the Company - issued | 174,229 |
Class A common stock of the Company - to be issued | 33,693 |
Total purchase consideration | $ | 275,090 |
The total consideration transferred in the acquisition was $457.3 million, consisting of the following (in thousands):
Class A common stock of the Company | $ | 389,314 |
Previously held interest on acquisition date | 10,863 |
Cash | 28,726 |
Replacement of Bison Trails options | 28,365 |
Total purchase consideration | $ | 457,268 |
The aggregate total preliminary consideration transferred in these acquisitions was $135.7 million, consisting of the following (in thousands):
Class A common stock of the Company - issued | $ | 51,760 |
Class A common stock of the Company - to be issued | 39,940 |
Cash | 27,795 |
Cash payable | 412 |
Contingent consideration arrangement | 15,752 |
Aggregate total purchase consideration | $ | 135,659 |
Schedule of recognized identified assets acquired and liabilities assumed | The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the date of acquisition (in thousands):
Cash and cash equivalents | $ | 10,560 |
Restricted cash | 573 |
Accounts and loans receivable, net of allowance | 4,981 |
Prepaid expenses and other current assets | 4,182 |
Lease right-of-use assets | 1,059 |
Property and equipment, net | 1,248 |
Goodwill | 222,732 |
Intangible assets, net | 28,500 |
Other non-current assets | 3,476 |
Total assets | 277,311 |
Accounts payable | 719 |
Accrued expenses and other current liabilities | 11,325 |
Lease liabilities | 1,059 |
Other non-current liabilities | 6,224 |
Total liabilities | 19,327 |
Net assets acquired | $ | 257,984 |
The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the date of acquisition (in thousands):
Cash and cash equivalents | $ | 10,867 |
Accounts and loans receivable, net of allowance | 411 |
Prepaid expenses and other current assets | 20 |
Intangible assets, net | 41,000 |
Goodwill | 231,685 |
Other non-current assets | 8,295 |
Total assets | 292,278 |
Accounts payable | 472 |
Accrued expenses and other current liabilities | 5,796 |
Other non-current liabilities | 10,920 |
Total liabilities | 17,188 |
Net assets acquired | $ | 275,090 |
The following table summarizes the estimated fair values of assets acquired and liabilities assumed using a cost-based approach (in thousands):
Cash and cash equivalents | $ | 12,201 |
Crypto assets held | 5,177 |
Accounts and loans receivable, net of allowance | 2,323 |
Prepaid expenses and other current assets | 122 |
Intangible assets, net | 39,100 |
Goodwill | 404,167 |
Other non-current assets | 1,221 |
Lease right-of-use assets | 808 |
Total assets | 465,119 |
Accounts payable | 526 |
Accrued expenses and other current liabilities | 1,920 |
Lease liabilities | 808 |
Other non-current liabilities | 4,597 |
Total liabilities | 7,851 |
Net assets acquired | $ | 457,268 |
The following table summarizes the aggregate estimated fair values of assets acquired and liabilities assumed using a cost-based approach (in thousands):
Cash and cash equivalents | $ | 4,915 |
Accounts and loans receivable, net of allowance | 57 |
Prepaid expenses and other current assets | 209 |
Intangible assets, net | 46,100 |
Goodwill | 86,041 |
Total assets | 137,322 |
Accounts payable | 65 |
Accrued expenses and other current liabilities | 649 |
Other non-current liabilities | 949 |
Total liabilities | 1,663 |
Net assets acquired | $ | 135,659 |
Schedule of components of finite lived and indefinite lived identifiable intangible assets acquired | The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in thousands, except for years data):
| Fair Value |  | Useful Life at Acquisition (in Years)
Developed technology | $ | 15,700 |  |  | 1 - 5
In-process research and development ("IPR&D") | 2,500 |  |  | N/A
Customer relationships | 10,300 |  |  | 2
The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in thousands, except for years data):
| Fair Value |  | Useful Life at Acquisition (in Years)
DCM License | $ | 26,900 |  |  | Indefinite
Developed technology | 10,700 |  |  | 5
Trading relationships | 3,400 |  |  | 3
The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in thousands, except for years data):
| Fair Value |  | Useful Life at Acquisition (in Years)
Developed technology | $ | 36,000 |  |  | 3
IPR&D | 1,200 |  |  | N/A
User base | 1,900 |  |  | 3
The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the dates of acquisition (in thousands, except for years data):
| Fair Value |  | Useful Life at Acquisition (in Years)
Developed technology | $ | 33,700 |  |  | 2.7
User base | 1,000 |  |  | 2.5
In process research and development | 1,600 |  |  | N/A
Customer relationships | 9,800 |  |  | 5

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
Name: | us-gaap_FiniteLivedAndIndefiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration