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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combinations [Abstract] |
Summary of allocation of purchase price | The following table summarizes an aggregate disclosure related to business acquisitions completed during the year ended December 31, 2021:
| Total Consideration |  | Cash paid, net of cash acquired |  | Contingent Consideration(1) |  | Allocation of purchase price to Intangible assets, net(2) |  | Weighted average useful life of acquired intangible assets |  | Excess purchase price allocated to Goodwill(3)
Acquisitions related to continuing operations(4) | $ | 252 |  |  | $ | 186 |  |  | $ | 45 |  |  | $ | 52 |  |  | 6.4 | Years |  | $ | 191 |
Acquisitions related to discontinued operations(5) | 106 |  |  | 18 |  |  | 25 |  |  | 35 |  |  | 6 | Years |  | 77 |
Aggregate total | $ | 358 |  |  | $ | 204 |  |  | $ | 70 |  |  | $ | 87 |  |  |  |  |  | $ | 268 |
(1) Contingent acquisition consideration values are primarily based on reaching certain earnings-based metrics, with a cumulative maximum payout of up to $109 million as of December 31, 2021 and were determined by fair value and included in the consideration transferred. The fair value was primarily determined using an income approach method and level 3 inputs in the hierarchy as established by ASC 820. The maximum contingent acquisition consideration liability related to continuing operations was $86 million as of December 31, 2021. The maximum contingent acquisition consideration liability related to discontinued operations was $23 million as of December 31, 2021.
(2) Intangible assets primarily consist of technology-based and customer relationship intangible assets. The fair value of these intangible assets was determined using an income approach method and level 3 inputs in the hierarchy as established by ASC 820. The discount rates and royalty rates used in the valuation analyses ranged between 15% and 29% and 1% and 52%, respectively.
(3) The factors contributing to the recognition of acquisition goodwill are based on customer offering diversification, expected synergies, assembled workforce and other strategic benefits. None of the resultant goodwill is expected to be deductible for income tax purposes.
(4) Authentic Gaming and Elk Studios (included within this line) are based on the preliminary allocations of the purchase price expected to be finalized during the first half of 2022, pending completion of the valuation analyses for the acquired intangible assets.
(5) The SportCast acquisition’s total consideration transferred included $63 million in fair value of the SportCast Option, which resulted in a $63 million gain recorded in the Net income from discontinued operations, net of tax, line item in our consolidated statements of operations for the year ended December 31, 2021 due to the increase in fair value of the SportCast Option. The fair value of the Sportscast Option has been determined using an income approach method and level 3 inputs in the hierarchy as established by ASC 820. The discount rate used in the valuation analyses was 15%.

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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 http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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