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Note 17 - Subsequent Events | 9 Months Ended
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Sep. 30, 2021
Notes to Financial Statements |
Subsequent Events [Text Block] | 17. Subsequent Events: In September 2021, we entered into an additional ASR agreement with Wells Fargo Bank to repurchase shares of our common stock for an aggregate purchase price of $75.0 million. Upon payment of the aggregate purchase price on October 1, 2021, we received an initial delivery of 299,595 shares of our common stock at a price of $200.27 per share, representing approximately $60.0 million of the aggregate purchase price. Upon the final settlement of the ASR agreement in December 2021, we may be entitled to receive additional shares of our common stock or, under certain limited circumstances, be required to deliver shares to the counter-party. See Note 11. Stockholders' Equity for further discussion. On October 19, 2021, we entered into an agreement to acquire approximately 96.7% of the stock of ACTINEO with an option to acquire the remaining shares at a future date, for a net cash purchase price of approximately $135.0 million, subject to regulatory approval. We expect to fund this acquisition by our operating cash on hand and/or borrowing from our credit facility. ACTINEO offers a comprehensive portfolio of services, technology and data solutions to support the entire bodily injury settlement process. With this acquisition, we will add ACTINEO's established claims management solutions to our leading data analytics and insurance ecosystem, providing customers with digitalization and medical expertise solutions throughout the entire claims process. The purchase price to be paid will be adjusted prior to closing to reflect certain pre-closing adjustments. Once the acquisition is completed, ACTINEO will be part of the claims vertical within our Insurance segment. On November 2, 2021, we acquired 100% of the stock of Data Driven Safety, LLC ("DDS") for a net cash purchase price of $93.2 million, of which $2.0 million represents indemnity escrows. DDS, a leading public record data aggregation firm that specializes in driver risk assessment in the United States, has become a part of the underwriting & rating category within our Insurance segment. We believe that DDS will expand our robust auto insurance analytics, providing insurers with information to further refine underwriting, improve the customer experience and promote public safety. **************

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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