XML 43 R32.htm IDEA: XBRL DOCUMENT
v3.23.1

Acquisitions (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of estimated fair values of the assets acquired and liabilities | The acquisition-date fair value of the consideration transferred and the estimated fair values of the assets acquired and liabilities assumed at the acquisition date are as follows (Dollars in millions):
Acquisition-date fair value of consideration transferred |
Cash | $ | 161.2 |
Shares of common stock (see Note 15) | 25.0 |
Total consideration transferred | $ | 186.2 |
Estimated fair value of assets acquired and liabilities assumed |
Cash and receivables | $ | 11.0 |
Investments in Abingworth funds | 3.8 |
Lease right-of-use assets, fixed assets, and other assets, net | 3.7 |
Deferred tax assets | 6.4 |
Finite-lived intangible assets | 88.0 |
Goodwill | 91.1 |
Lease liabilities | (2.7) |
Accrued expenses, accrued compensation and benefits, and other liabilities | (10.9) |
Non-controlling interests in Abingworth entities(1) | (4.2) |
Total | $ | 186.2 |
(1) Represents assets held by Abingworth entities which are consolidated VIEs. These assets are attributable to employees and are therefore reflected as non-controlling interests, and include investments in funds in which the Company did not acquire direct economic interests, which are presented as investments in Abingworth funds above.
Schedule of acquisition-date fair value of consideration transferred and estimated fair values of assets acquired and liabilities assumed | The acquisition-date fair value of the consideration transferred and the allocation of cost to the assets acquired and liabilities assumed at the acquisition date are as follows (Dollars in millions):
Acquisition-date fair value of consideration transferred |
Cash | $ | 618.4 |
Shares of common stock (see Note 15) | 194.5 |
Total consideration transferred | $ | 812.9 |
Allocation of cost to assets acquired and liabilities assumed |
Acquired contractual rights | $ | 794.3 |
Acquired CLO senior and subordinated notes | 175.9 |
Assumed CLO borrowings outstanding (see Note 8) | (157.3) |
Total cost of assets acquired, net of liabilities assumed | $ | 812.9 |

X
- Definition Tabular disclosure of asset acquisition. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 50 -Section 15 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=6911878&loc=d3e8732-128492 + Details
Name: | us-gaap_AssetAcquisitionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration