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Business Acquisitions and Other Intangible Assets Acquisitions (Tables)
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12 Months Ended |
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Dec. 31, 2014
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| ESSO Portfolio |
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| Business Acquisition [Line Items] |
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| Schedule of Business Acquisitions, by Acquisition |
The following is a summary of the preliminary allocation of the purchase price to the assets and liabilities acquired: | | | | | Consideration paid (net of cash acquired and consideration receivable) | $ | 378,470 |
| Less: | | Accounts receivable | 303,378 |
| Other tangible assets and liabilities, net | (9,698 | ) | Licensing agreements(a) | 36,979 |
| Customer relationships(b) | 7,720 |
| Recorded goodwill | $ | 40,091 |
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| | (a) | Weighted average life – 4.6 years. |
| | (b) | Weighted average life – 7.2 years. |
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| Evolution1 |
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| Business Acquisition [Line Items] |
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| Schedule of Business Acquisitions, by Acquisition |
The following is a summary of the preliminary allocation of the purchase price to the assets and liabilities acquired: | | | | | Consideration paid (net of cash acquired) | $ | 532,174 |
| Less: | | Accounts receivable | 8,418 |
| Accounts payable | (175 | ) | Deferred tax liabilities, net | (68,516 | ) | Other tangible assets and liabilities, net | (3,585 | ) | Acquired software and developed technology (a) | 70,000 |
| Customer relationships(b) | 211,000 |
| Trade name(c) | 7,900 |
| Trade name(d) | 11,000 |
| Recorded goodwill | $ | 296,132 |
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| | (a) | Weighted average life – 6.4 years. |
| | (b) | Weighted average life – 9.7 years. |
| | (c) | Weighted average life – 9.9 years. |
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| Pro Forma Operational Results of Company's Condensed Consolidated Statements of Operations |
The following represents unaudited pro forma operational results as if Evolution1 had been included in the Company’s consolidated statements of income as of the beginning of the fiscal years ended: | | | | | | | | | | December 31, | | 2014 | | 2013 | Revenue | $ | 865,056 |
| | $ | 786,854 |
| Net income attributable to WEX Inc. | $ | 191,415 |
| | $ | 97,016 |
| Pro forma net income attributable to WEX Inc. per common share: | | | | Net income per share – basic | $ | 4.92 |
| | $ | 2.49 |
| Net income per share – diluted | $ | 4.91 |
| | $ | 2.48 |
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| CorporatePay |
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| Business Acquisition [Line Items] |
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| Schedule of Business Acquisitions, by Acquisition |
The following is a summary of the allocation of the purchase price to the assets and liabilities acquired: | | | | | Consideration paid (net of cash acquired) | $ | 27,783 |
| Less: | | Accounts receivable | 1,585 |
| Accounts payable | (629 | ) | Other tangible liabilities, net | (4,040 | ) | Acquired software and developed technology (a) | 8,233 |
| Customer relationships(b) | 1,614 |
| Trademarks and trade name(c) | 1,453 |
| Recorded goodwill | $ | 19,567 |
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| | (a) | Weighted average life – 6.2 years. |
| | (b) | Weighted average life – 6.3 years. |
| | (c) | Weighted average life – 5.3 years. |
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| Unik Financial Services |
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| Business Acquisition [Line Items] |
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| Schedule of Business Acquisitions, by Acquisition |
The following is a summary of the allocation of the purchase price to the assets and liabilities acquired: | | | | | Total UNIK value | $ | 44,701 |
| Less: Redeemable non-controlling interest | 21,904 |
| Total purchase price (includes estimated earn out of $991) | $ | 22,797 |
| Less: | | Cash | 1,566 |
| Accounts receivable | 11,726 |
| Accounts payable | (12,640 | ) | Other tangible liabilities, net | (36,866 | ) | Acquired software and developed technology(a) | 14,193 |
| Customer relationships(b) | 15,171 |
| Trademarks and trade name(c) | 1,272 |
| Recorded goodwill | $ | 28,375 |
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| | (a) | Weighted average life – 6.2 years. |
| | (b) | Weighted average life – 5.9 years. |
| | (c) | Weighted average life – 5.5 years. |
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| FleetOne |
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| Business Acquisition [Line Items] |
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| Schedule of Business Acquisitions, by Acquisition |
The following is a summary of the allocation of the purchase price to the assets and liabilities acquired: | | | | | Consideration paid (net of cash acquired) | $ | 376,258 |
| Less: | | Accounts receivable | 152,527 |
| Accounts payable | (151,647 | ) | Other tangible liabilities, net | (693 | ) | Acquired software and developed technology(a) | 35,000 |
| Customer relationships(b) | 74,000 |
| Trademarks and trade name(c) | 4,000 |
| Recorded goodwill | $ | 263,071 |
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| | (a) | Weighted average life – 6.7 years. |
| | (b) | Weighted average life – 5.5 years. |
| | (c) | Weighted average life – 5.5 years. |
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| Pro Forma Operational Results of Company's Condensed Consolidated Statements of Operations |
The following represents unaudited pro forma operational results as if FleetOne had been included in the Company’s consolidated statements of operations as of the beginning of the fiscal years: | | | | | | 2012 | Net revenue | $ | 668,548 |
| Net income | $ | 91,065 |
| Pro forma net income per common share: | | Net income per share – basic | $ | 2.34 |
| Net income per share – diluted | $ | 2.33 |
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