v3.19.2

Acquisitions (Tables)

12 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Business Combination, Financial Information on Transaction

Financial information on each transaction is as follows:

		Summit				ActivePath				FundAssist				Total
		(in millions)
Cash payments, net of cash acquired		$	26.4			$	21.8			$	41.3			$	89.5
Deferred payments, net		1.4				2.4				—				3.8
Contingent consideration liability (acquisition date fair value)		2.7				—				6.4				9.2
Aggregate purchase price		$	30.6			$	24.2			$	47.7			$	102.5
Net tangible assets acquired / (liabilities assumed)		$	0.2			$	(10.0	)		$	(1.9	)		$	(11.7	)
Goodwill		18.5				28.7				29.2				76.3
Intangible assets		12.0				5.6				20.4				38.0
Aggregate purchase price		$	30.6			$	24.2			$	47.7			$	102.5

Financial information on each transaction is as follows:

		Rockall				RPM				TD Ameritrade				Total
		(in millions)
Cash payments, net of cash acquired		$	34.9			$	258.3			$	61.5			$	354.7
Deferred payments, net		(0.1		)		43.8				—				43.7
Contingent consideration liability		7.1				0.8				—				7.9
Aggregate purchase price		$	41.9			$	302.9			$	61.5			$	406.4
Net tangible assets acquired / (liabilities assumed)		$	(1.2	)		$	9.7			$	—			$	8.4
Goodwill		28.9				191.5				27.3				247.7
Intangible assets		14.2				101.7				34.2				150.2
Aggregate purchase price		$	41.9			$	302.9			$	61.5			$	406.4

Financial information on each transaction is as follows:

		NACC				M&O				MAL				Total
		(in millions)
Cash payments, net of cash acquired		$	406.2			$	22.4			$	20.1			$	448.7
Note payable to sellers		—				2.5				3.2				5.7
Contingent consideration liability (acquisition date fair value)		—				—				1.4				1.4
Other closing adjustments		3.8				—				—				3.8
Aggregate purchase price		$	410.0			$	24.9			$	24.8			$	459.6
Net tangible assets acquired / (liabilities assumed)		$	52.2			$	(3.5	)		$	(2.9	)		$	45.8
Goodwill		135.7				17.2				22.6				175.5
Intangible assets		218.3				11.2				14.7				244.1
Other closing adjustments		3.8				—				—				3.8
Fair value of the Company’s pre-existing investment in MAL		—				—				(9.6		)		(9.6		)
Aggregate purchase price, net of other closing adjustments		$	410.0			$	24.9			$	24.8			$	459.6

Allocation of Purchase Price

The following summarizes the allocation of purchase price for the NACC acquisition (in millions):

	NACC
Accounts receivable, net	$	89.1
Other current assets	19.5
Property, plant and equipment	45.0
Intangible assets	218.3
Goodwill	135.7
Other non-current assets	1.6
Accounts payable	(14.3		)
Accrued expenses and other current liabilities	(62.9		)
Deferred taxes	(21.9		)
Deferred revenue	(1.1		)
Other long term liabilities	(2.9		)
Consideration paid, net of cash acquired	$	406.2

Pro Forma Information

This unaudited pro forma financial information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisition had actually occurred on July 1, 2015, nor of the results of operations that may be obtained in the future.

	Years ended June 30,
	2017				2016
(in millions, except per share amounts)
Revenues	$	4,142.6			$	4,059.3
Net earnings	$	335.6			$	312.4
Basic earnings per share	$	2.84			$	2.64
Diluted earnings per share	$	2.78			$	2.57

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
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Tabular disclosure of transactions that are recognized separately from the acquisition of assets and assumptions of liabilities in the business combination.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
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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

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