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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of the allocation of the purchase price as of the acquisition date | The following table summarizes the preliminary allocation of the purchase price as of the acquisition date:
Cash | $ | 6,361 |
Accounts receivable | 1,730 |
Other current assets | 594 |
Other noncurrent assets | 698 |
Goodwill and identifiable intangible assets | 125,541 |
Accounts payable | (1,881) |
Accrued expenses | (357) |
Other noncurrent liabilities | (742) |
Deferred revenue | (688) |
Deferred tax liabilities, net | (8,326) |
Total consideration | $ | 122,930 |
The following table summarizes the allocation of the purchase price as of the acquisition date:
Cash | $ | 331,783 |
Accounts receivable | 149,515 |
Other current assets | 12,988 |
Other noncurrent assets | 20,974 |
Identifiable intangible assets | 777,000 |
Goodwill | 1,446,868 |
Accounts payable | (150,099) |
Accrued expenses | (63,154) |
Other noncurrent liabilities | (11,493) |
Deferred revenue | (3,294) |
Deferred tax liabilities, net | (190,596) |
Total consideration | $ | 2,320,492 |
Schedule of pro forma information | therefore the following unaudited pro forma consolidated operating results information has been prepared as if the acquisitions of Rapid and US eDirect had occurred on January 1, 2021, and NIC had occurred on January 1, 2020, after giving effect to certain adjustments, including amortization of intangibles, transaction costs, and tax effects.
| Years ended December 31,
| 2022 |  | 2021 |  | 2020
Revenues | $ | 1,867,011 |  |  | $ | 1,785,623 |  |  | $ | 1,577,117 |
Net income | 147,028 |  |  | 157,765 |  |  | 183,994 |
Basic earnings per share | $ | 3.54 |  |  | $ | 3.86 |  |  | $ | 4.60 |
Diluted earnings per share | $ | 3.47 |  |  | $ | 3.73 |  |  | $ | 4.43 |

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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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. + 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
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