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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combinations [Abstract] |
Purchase Price Allocation for Current Year Acquisitions and Adjustments Made for Prior Year Acquisitions | The following table summarizes the purchase price allocations made as of the date of each acquisition for current year acquisitions and adjustments made during the measurement period for prior year acquisitions. During the measurement periods, the Company will adjust assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in the recognition of those assets and liabilities as of that date. These adjustments are made in the period in which the amounts are determined and the current period income effect of such adjustments will be calculated as if the adjustments had been completed as of the acquisition date.
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Name |  | Business segment |  | Effective date of acquisition |  | Cash paid |  |  | Common stock issued |  |  | Other payable |  |  | Recorded earn-out payable |  |  | Net assets acquired |  |  | Maximum potential earn- out payable |
O'Leary Insurances (O'Leary) |  | Retail |  | January 1, 2021 |  | $ | 117,408 |  |  | $ | 4,892 |  |  | $ | — |  |  | $ | 15,348 |  |  | $ | 137,648 |  |  | $ | 30,575 |
Piper Jordan LLC (Piper) |  | Retail |  | May 1, 2021 |  |  | 43,428 |  |  |  | — |  |  |  | 1,397 |  |  |  | 9,854 |  |  |  | 54,679 |  |  |  | 15,000 |
Berkshire Insurance Group, Inc. (Berkshire) |  | Retail |  | September 1, 2021 |  |  | 41,500 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 41,500 |  |  |  | — |
AGIS Network, Inc. (AGIS) (1) |  | Retail |  | September 1, 2021 |  |  | 11,203 |  |  |  | — |  |  |  | 24,114 |  |  |  | 739 |  |  |  | 36,056 |  |  |  | 12,289 |
Winston Financial Services, Inc. (Winston) |  | Retail |  | October 1, 2021 |  |  | 79,461 |  |  |  | 5,000 |  |  |  | 7,724 |  |  |  | 16,427 |  |  |  | 108,612 |  |  |  | 29,000 |
Remedy Analytics, Inc. (Remedy) |  | Retail |  | October 1, 2021 |  |  | 40,762 |  |  |  | — |  |  |  | 473 |  |  |  | 7,364 |  |  |  | 48,599 |  |  |  | 25,000 |
Heacock Insurance Group, LLC (Heacock) |  | Retail |  | October 1, 2021 |  |  | 18,248 |  |  |  | — |  |  |  | 455 |  |  |  | 1,900 |  |  |  | 20,603 |  |  |  | 6,000 |
Corporate Insurance Advisors, L.L.C. (CIA) |  | Retail |  | December 1, 2021 |  |  | 15,314 |  |  |  | — |  |  |  | 181 |  |  |  | 6,542 |  |  |  | 22,037 |  |  |  | 14,000 |
Rainmaker Advisory, LLC (Rainmaker) |  | Retail |  | December 1, 2021 |  |  | 14,174 |  |  |  | — |  |  |  | 776 |  |  |  | 5,937 |  |  |  | 20,887 |  |  |  | 10,000 |
HARCO Insurance Services, Inc. (HARCO) |  | Retail |  | December 31, 2021 |  |  | 24,266 |  |  |  | — |  |  |  | 1,000 |  |  |  | 4,423 |  |  |  | 29,689 |  |  |  | 7,350 |
Other |  | Various |  | Various |  |  | 18,849 |  |  |  | — |  |  |  | 3,066 |  |  |  | 7,227 |  |  |  | 29,142 |  |  |  | 13,118 |
Total |  |  |  |  |  | $ | 424,613 |  |  | $ | 9,892 |  |  | $ | 39,186 |  |  | $ | 75,761 |  |  | $ | 549,452 |  |  | $ | 162,332 |
The following table summarizes the purchase price allocation made as of the date of each acquisition for current year acquisitions and significant adjustments made during the measurement period for prior year acquisitions:
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Name |  | Business segment |  | Effective date of acquisition |  | Cash paid |  |  | Common stock issued |  |  | Other payable |  |  | Recorded earn-out payable |  |  | Net assets acquired |  |  | Maximum potential earn- out payable |
Special Risk Insurance Managers Ltd. (Special Risk) |  | National Programs |  | January 1, 2020 |  | $ | 70,156 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,859 |  |  | $ | 80,015 |  |  | $ | 14,650 |
Texas All Risk General Agency, Inc. et al (Texas Risk) |  | Wholesale Brokerage |  | January 1, 2020 |  |  | 10,511 |  |  |  | — |  |  |  | 159 |  |  |  | 310 |  |  |  | 10,980 |  |  |  | 1,150 |
The Colonial Group, Inc. et al (Colonial) |  | Wholesale Brokerage |  | March 1, 2020 |  |  | 29,037 |  |  |  | — |  |  |  | 527 |  |  |  | 7,577 |  |  |  | 37,141 |  |  |  | 10,150 |
RLA Insurance Intermediaries, LLC (RLA) |  | Wholesale Brokerage |  | March 1, 2020 |  |  | 42,496 |  |  |  | — |  |  |  | 786 |  |  |  | 11,687 |  |  |  | 54,969 |  |  |  | 22,500 |
Dealer Financial Services of N.C., LLC d/b/a The Sterling Group (Sterling) |  | Retail |  | April 1, 2020 |  |  | 19,341 |  |  |  | — |  |  |  | 300 |  |  |  | 4,129 |  |  |  | 23,770 |  |  |  | 5,400 |
LP Insurance Services, LLC (LP) |  | National Programs |  | May 1, 2020 |  |  | 115,948 |  |  |  | 10,000 |  |  |  | 318 |  |  |  | 23,394 |  |  |  | 149,660 |  |  |  | 75,850 |
First Resource, Inc. (First) |  | Retail |  | July 1, 2020 |  |  | 10,700 |  |  |  | — |  |  |  | 450 |  |  |  | 3,776 |  |  |  | 14,926 |  |  |  | 5,800 |
Buiten & Associates, LLC (Buiten) |  | Retail |  | August 1, 2020 |  |  | 38,225 |  |  |  | — |  |  |  | 1,175 |  |  |  | 7,448 |  |  |  | 46,848 |  |  |  | 14,175 |
Amity Insurance, Inc. (Amity) |  | Retail |  | August 1, 2020 |  |  | 14,820 |  |  |  | 2,000 |  |  |  | 200 |  |  |  | 1,860 |  |  |  | 18,880 |  |  |  | 4,060 |
Frank E. Neal & Co., Inc. (Neal) |  | Retail |  | September 1, 2020 |  |  | 32,589 |  |  |  | 3,120 |  |  |  | 345 |  |  |  | 5,732 |  |  |  | 41,786 |  |  |  | 10,325 |
BrookStone Insurance Group, LLC (BrookStone) |  | Retail |  | September 1, 2020 |  |  | 12,030 |  |  |  | — |  |  |  | — |  |  |  | 1,058 |  |  |  | 13,088 |  |  |  | 1,878 |
VAS GenPar, LLC (VAS) |  | Retail |  | October 1, 2020 |  |  | 114,249 |  |  |  | 15,000 |  |  |  | — |  |  |  | 23,274 |  |  |  | 152,523 |  |  |  | 48,000 |
Bright & Associates, Inc. (Bright) |  | Retail |  | October 1, 2020 |  |  | 12,528 |  |  |  | — |  |  |  | 1,257 |  |  |  | 3,854 |  |  |  | 17,639 |  |  |  | 5,775 |
J.E. Brown & Associates Insurance Services, Inc. (J.E. Brown) |  | Wholesale Brokerage |  | October 1, 2020 |  |  | 33,331 |  |  |  | — |  |  |  | 1,030 |  |  |  | 5,947 |  |  |  | 40,308 |  |  |  | 10,425 |
CoverHound, Inc. and CyberPolicy, Inc. (CoverHound) |  | Retail |  | November 1, 2020 |  |  | 27,595 |  |  |  | — |  |  |  | 600 |  |  |  | — |  |  |  | 28,195 |  |  |  | — |
MAJ Companies, Ltd. (MAJ) |  | Retail |  | December 1, 2020 |  |  | 19,072 |  |  |  | — |  |  |  | 300 |  |  |  | 2,006 |  |  |  | 21,378 |  |  |  | 6,475 |
South & Western General Agency, Inc. (South & Western) |  | Wholesale Brokerage |  | December 1, 2020 |  |  | 69,673 |  |  |  | — |  |  |  | 1,193 |  |  |  | 7,294 |  |  |  | 78,160 |  |  |  | 18,000 |
Berry Insurance Group, Inc. (Berry) |  | Retail |  | December 31, 2020 |  |  | 35,326 |  |  |  | — |  |  |  | — |  |  |  | 3,694 |  |  |  | 39,020 |  |  |  | 6,500 |
Other |  | Various |  | Various |  |  | 14,888 |  |  |  | — |  |  |  | 490 |  |  |  | 8,498 |  |  |  | 23,876 |  |  |  | 12,337 |
Total |  |  |  |  |  | $ | 722,515 |  |  | $ | 30,120 |  |  | $ | 9,130 |  |  | $ | 131,397 |  |  | $ | 893,162 |  |  | $ | 273,450 |
The following table summarizes the purchase price allocation made as of the date of each acquisition for current year acquisitions and significant adjustments made during the measurement period for prior year acquisitions:
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Name |  | Business segment |  | Effective date of acquisition |  | Cash paid |  |  | Common stock issued |  |  | Other payable |  |  | Recorded earn-out payable |  |  | Net assets acquired |  |  | Maximum potential earn- out payable |
Smith Insurance Associates, Inc. (Smith) |  | Retail |  | February 1, 2019 |  | $ | 20,129 |  |  | $ | — |  |  | $ | 0 |  |  | $ | 2,704 |  |  | $ | 22,833 |  |  | $ | 4,550 |
Donald P. Pipino Company, LTD (Pipino) |  | Retail |  | February 1, 2019 |  |  | 16,420 |  |  |  | — |  |  |  | 135 |  |  |  | 9,821 |  |  |  | 26,376 |  |  |  | 12,996 |
AGA Enterprises, LLC d/b/a Cossio Insurance Agency (Cossio) |  | Retail |  | March 1, 2019 |  |  | 13,990 |  |  |  | — |  |  |  | 10 |  |  |  | 696 |  |  |  | 14,696 |  |  |  | 2,000 |
Medval, LLC (Medval) |  | Services |  | March 1, 2019 |  |  | 29,106 |  |  |  | — |  |  |  | 100 |  |  |  | 1,684 |  |  |  | 30,890 |  |  |  | 2,500 |
United Development Systems, Inc. (United) |  | Retail |  | May 1, 2019 |  |  | 18,987 |  |  |  | — |  |  |  | 388 |  |  |  | 3,268 |  |  |  | 22,643 |  |  |  | 8,625 |
Twinbrook Insurance Brokerage, Inc. (Twinbrook) |  | Retail |  | June 1, 2019 |  |  | 26,251 |  |  |  | — |  |  |  | 400 |  |  |  | 1,565 |  |  |  | 28,216 |  |  |  | 5,073 |
Innovative Risk Solutions, Inc. (IRS) |  | Retail |  | July 1, 2019 |  |  | 26,435 |  |  |  | — |  |  |  | 2,465 |  |  |  | 6,109 |  |  |  | 35,009 |  |  |  | 9,000 |
WBR Insurance Agency, LLC et al (WBR) |  | Retail |  | August 1, 2019 |  |  | 10,667 |  |  |  | — |  |  |  | 203 |  |  |  | 2,197 |  |  |  | 13,067 |  |  |  | 4,575 |
West Ridge Insurance Agency, Inc. d/b/a Yozell Associates (Yozell) |  | Retail |  | August 1, 2019 |  |  | 13,030 |  |  |  | — |  |  |  | 470 |  |  |  | 768 |  |  |  | 14,268 |  |  |  | 6,730 |
CKP Insurance, LLC (CKP) |  | Retail |  | August 1, 2019 |  |  | 89,190 |  |  |  | 20,000 |  |  |  | 4,000 |  |  |  | 38,093 |  |  |  | 151,283 |  |  |  | 76,500 |
Poole Professional Ltd. Insurance Agents and Brokers et al (Poole) |  | Retail |  | October 1, 2019 |  |  | 32,358 |  |  |  | — |  |  |  | 75 |  |  |  | 4,556 |  |  |  | 36,989 |  |  |  | 6,850 |
VerHagen Glendenning & Walker LLP (VGW) |  | Retail |  | October 1, 2019 |  |  | 23,032 |  |  |  | — |  |  |  | 1,498 |  |  |  | 2,385 |  |  |  | 26,915 |  |  |  | 8,170 |
Other |  | Various |  | Various |  |  | 36,665 |  |  |  | — |  |  |  | 2,391 |  |  |  | 9,026 |  |  |  | 48,082 |  |  |  | 14,454 |
Total |  |  |  |  |  | $ | 356,260 |  |  | $ | 20,000 |  |  | $ | 12,135 |  |  | $ | 82,872 |  |  | $ | 471,267 |  |  | $ | 162,023 |
Estimated Fair Values of Aggregate Assets and Liabilities Acquired | The following table summarizes the estimated fair values of the aggregate assets and liabilities acquired as of the date of each acquisition and adjustments made during the measurement period of the prior year acquisitions.
(in thousands) |  | O'Leary |  |  | Piper |  |  | Berkshire |  |  | AGIS |  |  | Winston |  |  | Remedy |
Cash |  | $ | 45,441 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5,024 |  |  | $ | 6,675 |
Other current assets |  |  | 43,350 |  |  |  | 2,397 |  |  |  | 1,621 |  |  |  | 13,693 |  |  |  | 7,527 |  |  |  | 1,786 |
Fixed assets |  |  | 544 |  |  |  | 9 |  |  |  | 9 |  |  |  | 20 |  |  |  | 1,185 |  |  |  | 151 |
Goodwill |  |  | 84,619 |  |  |  | 40,019 |  |  |  | 27,059 |  |  |  | 8,715 |  |  |  | 74,441 |  |  |  | 33,255 |
Purchased customer accounts |  |  | 40,459 |  |  |  | 12,233 |  |  |  | 12,313 |  |  |  | 13,577 |  |  |  | 25,006 |  |  |  | 13,697 |
Non-compete agreements |  |  | 819 |  |  |  | 21 |  |  |  | 11 |  |  |  | 51 |  |  |  | 872 |  |  |  | 508 |
Other assets |  |  | 135 |  |  | — |  |  |  | 504 |  |  |  | — |  |  |  | 27 |  |  |  | 1,354 |
Total assets acquired |  |  | 215,367 |  |  |  | 54,679 |  |  |  | 41,517 |  |  |  | 36,056 |  |  |  | 114,082 |  |  |  | 57,426 |
Other current liabilities |  |  | (72,649 | ) |  |  | — |  |  |  | (17 | ) |  |  | — |  |  |  | (5,470 | ) |  |  | (5,233 | )
Deferred income tax, net |  |  | (5,057 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,594 | )
Other liabilities |  |  | (13 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  |  | — |
Total liabilities assumed |  |  | (77,719 | ) |  |  | — |  |  |  | (17 | ) |  |  | — |  |  |  | (5,470 | ) |  |  | (8,827 | )
Net assets acquired |  | $ | 137,648 |  |  | $ | 54,679 |  |  | $ | 41,500 |  |  | $ | 36,056 |  |  | $ | 108,612 |  |  | $ | 48,599 |
(in thousands) |  | Heacock |  |  | CIA |  |  | Rainmaker |  |  | HARCO |  |  | Other |  |  | Total |
Cash |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 692 |  |  | $ | 57,832 |
Other current assets |  |  | 738 |  |  |  | 32 |  |  |  | — |  |  |  | 737 |  |  |  | 5,060 |  |  |  | 76,941 |
Fixed assets |  |  | 39 |  |  |  | 11 |  |  |  | 8 |  |  |  | 63 |  |  |  | 14 |  |  |  | 2,053 |
Goodwill |  |  | 13,910 |  |  |  | 17,310 |  |  |  | 15,029 |  |  |  | 20,609 |  |  |  | 15,007 |  |  |  | 349,973 |
Purchased customer accounts |  |  | 5,800 |  |  |  | 4,781 |  |  |  | 5,838 |  |  |  | 8,183 |  |  |  | 11,735 |  |  |  | 153,622 |
Non-compete agreements |  |  | 31 |  |  |  | 11 |  |  |  | 12 |  |  |  | 32 |  |  |  | 150 |  |  |  | 2,518 |
Other assets |  |  | 382 |  |  |  | 278 |  |  | — |  |  |  | 493 |  |  |  | 259 |  |  |  | 3,432 |
Total assets acquired |  |  | 20,900 |  |  |  | 22,423 |  |  |  | 20,887 |  |  |  | 30,117 |  |  |  | 32,917 |  |  |  | 646,371 |
Other current liabilities |  |  | (297 | ) |  |  | (386 | ) |  |  | — |  |  |  | (428 | ) |  |  | (3,775 | ) |  |  | (88,255 | )
Deferred income tax, net |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (8,651 | )
Other liabilities |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | (13 | )
Total liabilities assumed |  |  | (297 | ) |  |  | (386 | ) |  |  | — |  |  |  | (428 | ) |  |  | (3,775 | ) |  |  | (96,919 | )
Net assets acquired |  | $ | 20,603 |  |  | $ | 22,037 |  |  | $ | 20,887 |  |  | $ | 29,689 |  |  | $ | 29,142 |  |  | $ | 549,452 |
The following table summarizes the estimated fair values of the aggregate assets and liabilities acquired as of the date of each acquisition and adjustments made during the measurement period of the prior year acquisitions.
(in thousands) |  | Special Risk |  |  | Texas Risk |  |  | Colonial |  |  | RLA |  |  | Sterling |  |  | LP |  |  | First |  |  | Buiten |  |  | Amity |  |  | Neal |
Cash |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Other current assets |  |  | 2,477 |  |  |  | 446 |  |  |  | 1,344 |  |  | — |  |  |  | 612 |  |  |  | 3,162 |  |  |  | 302 |  |  |  | 2,595 |  |  |  | 653 |  |  |  | 2,337 |
Fixed assets |  |  | 345 |  |  |  | 27 |  |  |  | 59 |  |  |  | 55 |  |  |  | 16 |  |  |  | 1,877 |  |  |  | 1 |  |  |  | 43 |  |  |  | 58 |  |  |  | 46 |
Goodwill |  |  | 63,087 |  |  |  | 8,940 |  |  |  | 27,845 |  |  |  | 53,567 |  |  |  | 17,339 |  |  |  | 99,983 |  |  |  | 9,523 |  |  |  | 33,641 |  |  |  | 15,454 |  |  |  | 28,929 |
Purchased customer accounts |  |  | 14,286 |  |  |  | 3,222 |  |  |  | 9,205 |  |  |  | 12,309 |  |  |  | 5,962 |  |  |  | 44,801 |  |  |  | 5,095 |  |  |  | 11,323 |  |  |  | 5,614 |  |  |  | 13,225 |
Non-compete agreements |  |  | 136 |  |  |  | 25 |  |  |  | 43 |  |  |  | 481 |  |  |  | 21 |  |  |  | 31 |  |  |  | 21 |  |  |  | 91 |  |  |  | 21 |  |  |  | 31 |
Other assets |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | 274 |
Total assets acquired |  |  | 80,331 |  |  |  | 12,660 |  |  |  | 38,496 |  |  |  | 66,412 |  |  |  | 23,950 |  |  |  | 149,854 |  |  |  | 14,942 |  |  |  | 47,693 |  |  |  | 21,800 |  |  |  | 44,842 |
Other current liabilities |  |  | (316 | ) |  |  | (1,680 | ) |  |  | (1,355 | ) |  |  | (11,443 | ) |  |  | (180 | ) |  |  | (10 | ) |  |  | (16 | ) |  |  | (845 | ) |  |  | (2,920 | ) |  |  | (3,056 | )
Other liabilities |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | (184 | ) |  |  | — |  |  | — |  |  | — |  |  | — |
Total liabilities assumed |  |  | (316 | ) |  |  | (1,680 | ) |  |  | (1,355 | ) |  |  | (11,443 | ) |  |  | (180 | ) |  |  | (194 | ) |  |  | (16 | ) |  |  | (845 | ) |  |  | (2,920 | ) |  |  | (3,056 | )
Net assets acquired |  | $ | 80,015 |  |  | $ | 10,980 |  |  | $ | 37,141 |  |  | $ | 54,969 |  |  | $ | 23,770 |  |  | $ | 149,660 |  |  | $ | 14,926 |  |  | $ | 46,848 |  |  | $ | 18,880 |  |  | $ | 41,786 |
(in thousands) |  | Brook Stone |  |  | VAS |  |  | Bright |  |  | J.E. Brown |  |  | Cover Hound |  |  | MAJ |  |  | South & Western |  |  | Berry |  |  | Other |  |  | Total |
Cash |  | $ | — |  |  | $ | 27,673 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 27,673 |
Other current assets |  |  | 527 |  |  |  | 5,486 |  |  |  | 402 |  |  |  | — |  |  |  | 375 |  |  |  | 413 |  |  |  | — |  |  |  | — |  |  |  | 912 |  |  |  | 22,043 |
Fixed assets |  |  | 22 |  |  |  | 138 |  |  |  | 23 |  |  |  | 32 |  |  |  | 6,441 |  |  |  | — |  |  |  | 149 |  |  |  | 30 |  |  |  | 25 |  |  |  | 9,387 |
Goodwill |  |  | 8,585 |  |  |  | 100,826 |  |  |  | 12,218 |  |  |  | 31,476 |  |  |  | 19,524 |  |  |  | 13,003 |  |  |  | 63,128 |  |  |  | 29,702 |  |  |  | 11,325 |  |  |  | 648,095 |
Purchased customer accounts |  |  | 3,689 |  |  |  | 48,188 |  |  |  | 5,055 |  |  |  | 9,479 |  |  |  | 3,678 |  |  |  | 8,034 |  |  |  | 18,513 |  |  |  | 9,701 |  |  |  | 8,582 |  |  |  | 239,961 |
Non-compete agreements |  |  | 21 |  |  |  | 101 |  |  |  | 42 |  |  |  | 41 |  |  |  | — |  |  |  | 11 |  |  |  | 21 |  |  |  | 11 |  |  |  | 64 |  |  |  | 1,213 |
Other assets |  |  | 290 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,088 |  |  |  | 3,652 |
Total assets acquired |  |  | 13,134 |  |  |  | 182,412 |  |  |  | 17,740 |  |  |  | 41,028 |  |  |  | 30,018 |  |  |  | 21,461 |  |  |  | 81,811 |  |  |  | 39,444 |  |  |  | 23,996 |  |  |  | 952,024 |
Other current liabilities |  |  | (46 | ) |  |  | (3,760 | ) |  |  | (101 | ) |  |  | (720 | ) |  |  | (1,823 | ) |  |  | (83 | ) |  |  | (3,651 | ) |  |  | (424 | ) |  |  | (120 | ) |  |  | (32,549 | )
Other liabilities |  | — |  |  |  | (26,129 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (26,313 | )
Total liabilities assumed |  |  | (46 | ) |  |  | (29,889 | ) |  |  | (101 | ) |  |  | (720 | ) |  |  | (1,823 | ) |  |  | (83 | ) |  |  | (3,651 | ) |  |  | (424 | ) |  |  | (120 | ) |  |  | (58,862 | )
Net assets acquired |  | $ | 13,088 |  |  | $ | 152,523 |  |  | $ | 17,639 |  |  | $ | 40,308 |  |  | $ | 28,195 |  |  | $ | 21,378 |  |  | $ | 78,160 |  |  | $ | 39,020 |  |  | $ | 23,876 |  |  | $ | 893,162 |
The following table summarizes the estimated fair values of the aggregate assets and liabilities acquired as of the date of each acquisition.
(in thousands) |  | Smith |  |  | Pipino |  |  | Cossio |  |  | Medval |  |  | United |  |  | Twinbrook |  |  | IRS |  |  | WBR |  |  | Yozell |  |  | CKP |
Cash |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,217 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Other current assets |  |  | 680 |  |  |  | 819 |  |  |  | 236 |  |  |  | 1,708 |  |  |  | 477 |  |  |  | 919 |  |  |  | 1,375 |  |  |  | 449 |  |  |  | 1,781 |  |  |  | 9,170 |
Fixed assets |  |  | 39 |  |  |  | 112 |  |  |  | 29 |  |  |  | 50 |  |  |  | 20 |  |  |  | 85 |  |  |  | 11 |  |  |  | 10 |  |  |  | 12 |  |  |  | 193 |
Goodwill |  |  | 16,042 |  |  |  | 16,765 |  |  |  | 10,010 |  |  |  | 19,108 |  |  |  | 15,111 |  |  |  | 18,935 |  |  |  | 24,938 |  |  |  | 9,096 |  |  |  | 8,904 |  |  |  | 110,495 |
Purchased customer accounts |  |  | 6,500 |  |  |  | 11,360 |  |  |  | 4,403 |  |  |  | 7,300 |  |  |  | 7,065 |  |  |  | 8,557 |  |  |  | 8,800 |  |  |  | 4,022 |  |  |  | 3,550 |  |  |  | 32,274 |
Non-compete agreements |  |  | 41 |  |  |  | 11 |  |  |  | 21 |  |  |  | 1 |  |  |  | 11 |  |  |  | 12 |  |  |  | 11 |  |  |  | 34 |  |  |  | 21 |  |  |  | 21 |
Other assets |  |  | — |  |  |  | 772 |  |  |  | — |  |  |  | 15 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total assets acquired |  |  | 23,302 |  |  |  | 29,839 |  |  |  | 14,699 |  |  |  | 31,399 |  |  |  | 22,684 |  |  |  | 28,508 |  |  |  | 35,135 |  |  |  | 13,611 |  |  |  | 14,268 |  |  |  | 152,153 |
Other current liabilities |  |  | (469 | ) |  |  | (3,463 | ) |  |  | (3 | ) |  |  | (480 | ) |  |  | (41 | ) |  |  | (292 | ) |  |  | (126 | ) |  |  | (166 | ) |  |  | — |  |  |  | (870 | )
Deferred income tax, net |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (29 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (378 | ) |  |  | — |  |  |  | — |
Total liabilities assumed |  |  | (469 | ) |  |  | (3,463 | ) |  |  | (3 | ) |  |  | (509 | ) |  |  | (41 | ) |  |  | (292 | ) |  |  | (126 | ) |  |  | (544 | ) |  |  | — |  |  |  | (870 | )
Net assets acquired |  | $ | 22,833 |  |  | $ | 26,376 |  |  | $ | 14,696 |  |  | $ | 30,890 |  |  | $ | 22,643 |  |  | $ | 28,216 |  |  | $ | 35,009 |  |  | $ | 13,067 |  |  | $ | 14,268 |  |  | $ | 151,283 |
(in thousands) |  | Poole |  |  | VGW |  |  | Other |  |  | Total |
Cash |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,217 |
Other current assets |  |  | 938 |  |  |  | 1,190 |  |  |  | (6,786 | ) |  |  | 12,956 |
Fixed assets |  |  | 4 |  |  |  | 20 |  |  |  | (130 | ) |  |  | 455 |
Goodwill |  |  | 28,233 |  |  |  | 16,595 |  |  |  | 34,314 |  |  |  | 328,546 |
Purchased customer accounts |  |  | 10,359 |  |  |  | 9,092 |  |  |  | 15,020 |  |  |  | 128,302 |
Non-compete agreements |  |  | 33 |  |  |  | 34 |  |  |  | 161 |  |  |  | 412 |
Other assets |  |  | — |  |  |  | — |  |  |  | (732 | ) |  |  | 55 |
Total assets acquired |  |  | 39,567 |  |  |  | 26,931 |  |  |  | 41,847 |  |  |  | 473,943 |
Other current liabilities |  |  | (2,578 | ) |  |  | (16 | ) |  |  | 6,235 |  |  |  | (2,269 | )
Other liabilities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (407 | )
Total liabilities assumed |  |  | (2,578 | ) |  |  | (16 | ) |  |  | 6,235 |  |  |  | (2,676 | )
Net assets acquired |  | $ | 36,989 |  |  | $ | 26,915 |  |  | $ | 48,082 |  |  | $ | 471,267 |
Unaudited Proforma Results | These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the acquisitions actually been made at the beginning of the respective periods.
(UNAUDITED) |  | Year Ended December 31, |
(in thousands, except per share data) |  | 2021 |  |  | 2020 |
Total revenues |  | $ | 3,128,530 |  |  | $ | 2,751,167 |
Income before income taxes |  | $ | 779,533 |  |  | $ | 653,270 |
Net income |  | $ | 599,964 |  |  | $ | 502,942 |
Net income per share: |  |  |  |  |  |
Basic |  | $ | 2.13 |  |  | $ | 1.78 |
Diluted |  | $ | 2.12 |  |  | $ | 1.77 |
Weighted average number of shares outstanding: |  |  |  |  |  |
Basic |  |  | 276,024 |  |  |  | 274,334 |
Diluted |  |  | 277,414 |  |  |  | 275,867 |
These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the acquisitions actually been made at the beginning of the respective periods.
(UNAUDITED) |  | Year Ended December 31, |
(in thousands, except per share data) |  | 2020 |  |  | 2019 |
Total revenues |  | $ | 2,714,314 |  |  | $ | 2,579,075 |
Income before income taxes |  | $ | 650,618 |  |  | $ | 576,355 |
Net income |  | $ | 500,900 |  |  | $ | 436,722 |
Net income per share: |  |  |  |  |  |
Basic |  | $ | 1.77 |  |  | $ | 1.55 |
Diluted |  | $ | 1.76 |  |  | $ | 1.54 |
Weighted average number of shares outstanding: |  |  |  |  |  |
Basic |  |  | 274,334 |  |  |  | 272,471 |
Diluted |  |  | 275,867 |  |  |  | 274,616 |
These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the acquisitions actually been made at the beginning of the respective periods.
(UNAUDITED) |  | Year Ended December 31, |
(in thousands, except per share data) |  | 2019 |
Total revenues |  | $ | 2,447,401 |
Income before income taxes |  | $ | 545,182 |
Net income |  | $ | 412,974 |
Net income per share: |  |  |
Basic |  | $ | 1.47 |
Diluted |  | $ | 1.46 |
Weighted average number of shares outstanding: |  |  |
Basic |  |  | 272,471 |
Diluted |  |  | 274,616 |
Additions, Payments, and Net Changes, as well as Interest Expense Accretion on Estimated Acquisition Earn-Out Payables | The resulting additions, payments and net changes, as well as the interest expense accretion on the estimated acquisition earn-out payables, for the years ended December 31, 2021, 2020 and 2019 were as follows:
|  | Year Ended December 31, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Balance as of the beginning of the period |  | $ | 258,943 |  |  | $ | 161,513 |  |  | $ | 89,924 |
Additions to estimated acquisition earn-out payables from new acquisitions |  |  | 75,761 |  |  |  | 131,397 |  |  |  | 82,872 |
Payments for estimated acquisition earn-out payables |  |  | (83,581 | ) |  |  | (29,509 | ) |  |  | (9,917 | )
Subtotal |  |  | 251,123 |  |  |  | 263,401 |  |  |  | 162,879 |
Net change in earnings from estimated acquisition earn-out payables: |  |  |  |  |  |  |  |  |
Change in fair value on estimated acquisition earn-out payables |  |  | 34,209 |  |  |  | (11,814 | ) |  |  | (7,298 | )
Interest expense accretion |  |  | 6,236 |  |  |  | 7,356 |  |  |  | 5,932 |
Net change in earnings from estimated acquisition earn- out payables |  |  | 40,445 |  |  |  | (4,458 | ) |  |  | (1,366 | )
Foreign currency translation adjustments during the year |  |  | (521 | ) |  |  | — |  |  |  | — |
Balance as of December 31, |  | $ | 291,047 |  |  | $ | 258,943 |  |  | $ | 161,513 |

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