Business Acquisitions (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Business Acquisitions, by Acquisition

The following represents the preliminary allocation of the purchase price by the assets and liabilities acquired and goodwill recognized in this business combination:



Consideration paid, net of cash acquired	1,444,235
Less:
Accounts receivable	164,459
Property and equipment, net	8,249
Customer relationships (a)(b)	832,400
Developed technologies (a)(c)	31,100
Trade name (a)(d)	14,600
Deferred income tax assets	34,571
Accounts payable	(153,777		)
Accrued expenses	(128,281		)
Deferred income tax liabilities	(78,119		)
Other assets and liabilities	54
Recorded goodwill (a)	$	718,979


(a)	Approximately $1,356,350 in goodwill and other intangible assets recorded from this business combination were assigned to our Fleet Solutions segment, the remaining $293,729 was assigned to our Travel and Corporate Solutions segment.


(b)	Weighted average life – 8.7 years.


(c)	Weighted average life – 2.3 years.


(d)	Weighted average life – 3.3 years.

Estimated Amortization Expense Related to Definite Lived Intangible Assets

At September 30, 2016, estimated amortization expense related to the definite-lived intangible assets listed above for each of the next five fiscal years is as follows:



Remaining 2016	$	15,591
2017	$	76,241
2018	$	75,155
2019	$	69,522
2020	$	64,786
2021	$	57,951
Thereafter	$	503,264

The following table presents the estimated amortization expense related to the definite-lived intangible assets listed above for the remainder of 2016 and for each of the five succeeding fiscal years:



Remaining 2016	$	33,420
2017	$	135,637
2018	$	119,493
2019	$	110,611
2020	$	102,706
2021	$	92,099

Business Acquisition, Pro Forma Information

The following represents unaudited pro forma operational results as if EFS has been included in the Company's unaudited condensed consolidated statements of operations as of the beginning of the fiscal periods ended:



	Three months ended September 30,				Nine months ended September 30,
	2016		2015		2016		2015
Total revenues	$	287,755	261,361		$	796,514	748,186
Net earnings attributable to shareholders	$	30,357	20,592		$	38,670	47,852
Pro forma net income attributable to shareholders per common share:
Net income per share - basic	$	0.71	$	0.53	$	0.96	$	1.23
Net income per share - diluted	$	0.71	$	0.53	$	0.96	$	1.23

Benaissance Acquisition

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following is a summary of the final allocation of the purchase price to the assets and liabilities acquired:



Consideration paid (net of cash acquired)	$	80,677
Less:
Accounts receivable	1,594
Other tangible assets and liabilities, net	314
Acquired software and developed technology(a)	10,300
Customer relationships(b)	27,700
Trade name(c)	1,500
Recorded goodwill	$	39,269


^(a)	Weighted average life – 5.0 years.


^(b)	Weighted average life – 7.6 years.


^(c)	Weighted average life – 8.1 years.