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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions

(In thousands)
Purchase price			$	96,992
Reduction in:
Non-controlling interest1			(13,077)
Accumulated other comprehensive income			(2,284)
Additional paid-in capital2			(81,631)

1 Reduces non-controlling interest to zero as of the acquisition date.

2 In conjunction with the acquisition, the Company incurred $0.5 million in acquisition costs, which further reduced additional paid-in capital.

The following is a summary of the final allocation of the purchase price to the assets and liabilities acquired, based on the fair value at the date of acquisition:

(In thousands)						As Reported December 31, 2020						Measurement Period Adjustments						As Reported December 31, 2021 (Final)
Cash consideration transferred, net of $232,155 in cash and restricted cash acquired						$	383,204					$	119					$	383,323
Less: legal settlement						(162,500)						—						(162,500)
Total consideration, net						$	220,704					$	119					$	220,823
Less:
Accounts receivable						14,449						—						14,449
Property and equipment						876						—						876
Customer relationships(a)(c)						79,923						(32,323)						47,600
Developed technologies(b)(c)						63,125						(56,825)						6,300
License agreements						4,208						(4,208)						—
Deferred income tax asset						9,424						3,552						12,976
Other assets						16,605						—						16,605
Accounts payable						(16,244)						—						(16,244)
Accrued expenses						(21,898)						—						(21,898)
Restricted cash payable						(186,956)						—						(186,956)
Deferred income tax liability						(20,152)						12,385						(7,767)
Other liabilities						(14,540)						(888)						(15,428)
Recorded goodwill						$	291,884					$	78,426					$	370,310

(a) Weighted average life - 7.3 years.

(b) Weighted average life - 0.5 years.

(c) The weighted average life of the $53.9 million of amortizable intangible assets acquired in this business combination is 6.5 years.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following is a summary of the preliminary allocation of the purchase price to the assets and liabilities acquired, based on the estimated fair value at the date of acquisition:

(In thousands)						As Reported December 31, 2021
Cash consideration transferred, net of $15.0 million in cash and restricted cash acquired						$	259,061
Less:
Accounts receivable						3,103
Customer relationships(a)(d)						84,400
Developed technologies(b)(d)						19,600
Non-compete(c)(d)						2,150
Other assets						4,387
Accrued expenses						(3,498)
Restricted cash payable						(14,328)
Other liabilities						(5,177)
Recorded goodwill						$	168,424

(a) Weighted average life -9.3 years.

(b) Weighted average life - 3.6 years.

(c) Weighted average life -2.5 years.

(d) The weighted average life of the $106.2 million of amortizable intangible assets acquired in this business combination is 8.1 years.

Business Acquisition, Pro Forma Information

The following represents unaudited pro forma operational results, which include the impact of measurement period adjustments recorded during the year ended December 31, 2021:

			Year Ended December 31,
(In thousands, except per share data)			2020						2019
Total revenues			$	1,610,216					$	1,876,494
Net loss attributable to shareholders			$	(49,480)					$	(62,315)
Net loss attributable to shareholders per share:
Basic			$	(1.13)					$	(1.44)
Diluted			$	(1.13)					$	(1.44)

The following represents unaudited pro forma operational results:

			Year Ended December 31,
(In thousands, except per share data)			2019
Total revenues			$	1,742,797
Net income attributable to shareholders			$	113,851
Net income attributable to shareholders per share:
Basic			$	2.63
Diluted			$	2.60

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- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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