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Acquisitions | 3 Months Ended
--- | ---
Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract] |
Acquisitions | Acquisitions The aggregate details of the Company’s acquisition activity are as follows:
| Acquisitions Completed During
| Three Months Ended March 31,
| 2024 |  | 2023
Number of acquisitions | — |  |  | 1 |
Cash paid at closing | $ | — |  |  | $ | 10,299 |
Net cash paid | $ | — |  |  | $ | 10,299 |
The operating results of the acquired businesses were not material, individually or in the aggregate, to the Company’s consolidated statements of operations. The fair value of non-contingent consideration from acquisitions is included in the consolidated balance sheets as follows:
| March 31, 2024 |  | December 31, 2023
Accruals and other current liabilities | $ | 2,906 |  |  | $ | 3,576 |
Non-contingent consideration from acquisitions | $ | 2,906 |  |  | $ | 3,576 |
The operating results of the acquired businesses are included in the Company’s consolidated financial statements from the closing date of each respective acquisition. The purchase price for each acquisition has been allocated to the net tangible and intangible assets and liabilities based on their estimated fair values at the respective acquisition date. The Company is in the process of finalizing the purchase accounting for two acquisitions completed during the year ended December 31, 2023. Identifiable assets acquired and liabilities assumed were provisionally recorded at their estimated fair values on the respective acquisition date. The initial accounting for these business combinations is not complete because the evaluation necessary to assess the fair values of certain net assets acquired is still in process. The provisional amounts are subject to revision until the evaluations are completed to the extent that additional information is obtained about the facts and circumstances that existed as of the acquisition date. The allocation of the purchase price may be modified from the date of the acquisition as more information is obtained about the fair values of assets acquired and liabilities assumed, however, such measurement period cannot exceed one year. Acquisition costs are expensed as incurred and are recorded in General and administrative in the consolidated statements of operations. For the three months ended March 31, 2024 and 2023, the Company’s acquisition costs were $198 and $5,185, respectively, which include costs related to legal, accounting, valuation, insurance, and other consulting and transaction fees. The following summarizes the fair values of the assets acquired and liabilities assumed, as well as the weighted average useful lives assigned to acquired intangible assets at the respective date of each acquisition (including contingent consideration):
|  |  | Acquisitions Completed During
|  |  | Year Ended
|  |  | December 31, 2023
Consideration: |  |  |
Cash paid at closing |  |  | $ | 26,287 |
Deferred, non-contingent consideration, net |  |  | 525 |
Other |  |  | 15 |
Total consideration |  |  | $ | 26,827 |
Assets acquired and liabilities assumed: |  |  |
Cash |  |  | $ | 264 |
Accounts receivable and other current assets |  |  | 1,742 |
Operating lease right-of-use assets |  |  | 397 |
Deferred income taxes |  |  | 2,151 |
Other assets |  |  | 6 |
Software and technology (weighted average useful life of 3 years) |  |  | 3,077 |
Customer relationships (weighted average useful life of 6 years) |  |  | 3,900 |
Trademarks (weighted average useful life of 5 years) |  |  | 1,000 |
Total identifiable assets acquired excluding goodwill |  |  | 12,537 |
Accruals and other current liabilities |  |  | (624) |
Deferred revenues |  |  | (4,623) |
Operating lease liabilities |  |  | (397) |
Total liabilities assumed |  |  | (5,644) |
Net identifiable assets acquired excluding goodwill |  |  | 6,893 |
Goodwill |  |  | 19,934 |
Net assets acquired |  |  | $ | 26,827 |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//805/tableOfContent + Details
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