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ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarized the amounts recorded for acquired assets and assumed liabilities recorded at their fair value as of the closing date of the acquisition (in millions):

															Preliminary: December 12, 2023
Cash and cash equivalents															$	18.2
Accounts receivable															2.3
Goodwill															62.8
Intangible assets															55.2
Accrued expenses															(12.7)
Accrued wages and commissions															(2.0)
Deferred income taxes, net															(3.0)
Other assets and liabilities															(0.4)
Fair value of identifiable net assets acquired															$	120.4

The following table summarizes the amounts recorded for acquired assets and assumed liabilities recorded at their fair values as of the acquisition date (in millions):

															Final: May 24, 2021
Cash and cash equivalents															$	—
Accounts receivable															1.8
Lease right-of-use assets															0.4
Goodwill															91.9
Intangible assets															53.4
Deferred income taxes, net															7.9
Lease liabilities															(0.4)
Deferred revenue															(1.5)
Other assets and liabilities															(1.3)
Fair value of identifiable net assets acquired															$	152.2

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table summarizes the fair values (in millions) of the identifiable intangible assets acquired in the OnTheMarket Acquisition included in the Company's International operating segment, their related estimated useful lives (in years) and their respective amortization methods:

															Estimated Fair Value						Estimated Useful Life						Amortization Method
Customer base															$	42.0					8						Accelerated
Trade name															10.2						15						Straight-line
Technology															3.0						2						Straight-line
Total intangible assets															$	55.2

The following table summarizes the fair values (in millions) of the identifiable intangible assets acquired in the Homes.com Acquisition included in the Company's North America operating segment, their related estimated useful lives (in years) and their respective amortization methods:

															Estimated Fair Value						Estimated Useful Life						Amortization Method
Customer base															$	32.0					8						Accelerated
Trade name															21.0						15						Straight-line
Technology															0.4						2						Straight-line
Total intangible assets															$	53.4

Business Acquisition, Pro Forma Information

The unaudited pro forma financial information presented below reflects the consolidated results of operations of the Company assuming the OnTheMarket Acquisition had taken place on January 1, 2022 and was as follows (in millions, except per share data):

									Year Ended December 31,
															2023						2022
Revenue															$	2,494.0					$	2,224.3
Net income															$	371.9					$	361.9
Net income per share - basic															$	0.91					$	0.91
Net income per share - diluted															$	0.91					$	0.91

The impact of the OnTheMarket Acquisition on the Company's revenue and net income in the consolidated statements of operations from December 12, 2023 through December 31, 2023 was not material.

and was as follows (in millions, except per share data):

									Year Ended December 31,
															2021
Revenue															$	1,962.1
Net income															$	286.7
Net income per share - basic															$	0.74
Net income per share - diluted															$	0.73

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
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- Definition

Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
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- 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.

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