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Acquisitions and Other Investments (Tables) | 6 Months Ended
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Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The table below summarizes the preliminary allocation of fair value to the assets acquired and liabilities assumed on the date of acquisition under the acquisition method of accounting. These fair values may continue to be revised during the measurement period as third-party valuations on the intangible assets are finalized, further information becomes available and additional analyses are performed, and those adjustments could have a material impact on the purchase price allocation.
(in millions) |  | As Reported December 31, 2023 |  | Measurement Period Adjustments |  | As Reported June 30, 2024
Cash consideration transferred, net o f $4.5 million in cash acquired |  | $ | 244.0 |  |  | $ | — |  |  | $ | 244.0 |
Less: |  |  |  |  |  |
Accounts receivable |  | 2.4 |  |  | — |  |  | 2.4 |
Customer relationships(1)(5) |  | 40.4 |  |  | — |  |  | 40.4 |
Developed technology(2)(5) |  | 17.2 |  |  | — |  |  | 17.2 |
Strategic partner relationships(3)(5) |  | 4.5 |  |  | — |  |  | 4.5 |
Trademark(4)(5) |  | 1.4 |  |  | — |  |  | 1.4 |
Other current and long-term assets |  | 1.4 |  |  | — |  |  | 1.4 |
Accrued expenses and other current liabilities |  | (1.8) |  |  | — |  |  | (1.8) |
Deferred tax liability |  | (6.5) |  |  | 3.0 |  |  | (3.5) |
Contingent/deferred consideration |  | (7.1) |  |  | — |  |  | (7.1) |
Other liabilities |  | (0.9) |  |  | — |  |  | (0.9) |
Recorded goodwill |  | $ | 193.0 |  |  | $ | (3.0) |  |  | $ | 190.0 |
(1)Weighted average useful life - 4.7 years (2)Weighted average useful life - 2.4 years (3)Weighted average useful life - 2.5 years (4)Weighted average useful life - 2.8 years (5)The weighted average useful life of all amortizable intangible assets acquired in this business combination is 3.9 years The table below summarizes the preliminary allocation of fair value to the assets acquired and liabilities assumed on the date of acquisition under the acquisition method of accounting. These fair values may continue to be revised during the measurement period as third-party valuations on the intangible assets are finalized, further information becomes available and additional analyses are performed, and those adjustments could have a material impact on the purchase price allocation.
(in millions) |  | As Reported December 31, 2023 |  | Measurement Period Adjustments |  | As Reported June 30, 2024
Cash consideration transferred, net of $26.7 million in cash and restricted cash acquired |  | $ | 158.0 |  |  | $ | 0.9 |  |  | $ | 158.9 |
Less: |  |  |  |  |  |
Accounts receivable |  | 7.3 |  |  | — |  |  | 7.3 |
Customer relationships(1)(5) |  | 52.1 |  |  | — |  |  | 52.1 |
Developed technology(2)(5) |  | 6.6 |  |  | — |  |  | 6.6 |
Strategic partner relationships(3)(5) |  | 14.0 |  |  | — |  |  | 14.0 |
Custodial rights(4)(5) |  | 23.2 |  |  | — |  |  | 23.2 |
Other assets |  | 3.8 |  |  | — |  |  | 3.8 |
Accrued expenses and other current liabilities |  | (6.5) |  |  | — |  |  | (6.5) |
Restricted cash payable |  | (25.7) |  |  | — |  |  | (25.7) |
Other liabilities |  | (2.7) |  |  | — |  |  | (2.7) |
Recorded goodwill |  | $ | 85.9 |  |  | $ | 0.9 |  |  | $ | 86.8 |
(1)Weighted average life - 5.4 years (2)Weighted average life - 2.2 years (3)Weighted average life - 1.2 years (4)Weighted average life - 4.9 years (5)The weighted average useful life of all amortizable intangible assets acquired in this business combination is 4.4 years.

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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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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