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Acquisition (Tables)

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

In connection with the acquisition, the Company recorded the following amounts based upon its preliminary purchase price allocation as of September 30, 2019, which are subject to completion of the valuation and other analyses (in thousands, except weighted average useful lives):

		Amount				Weighted Average Useful Lives
Current assets:
Cash and cash equivalents		$	135
Receivables, net of allowances		18,358
Settlement assets		239,604
Prepaid expenses		317
Other current assets		19,585
Total current assets acquired		277,999
Noncurrent assets:
Goodwill		365,928
Software		113,600				7 years
Customer relationships		208,500				15 years
Trademarks		10,900				5 years
Other noncurrent assets		3,745
Total assets acquired		980,672
Current liabilities:
Accounts payable		6,743
Settlement liabilities		212,892
Employee compensation		1,959
Other current liabilities		3,802
Total current liabilities acquired		225,396
Noncurrent liabilities:
Other noncurrent liabilities		1,219
Total liabilities acquired		226,615
Net assets acquired		$	754,057

Summary of Unaudited Summarized Pro Forma Financial Information

The following is the unaudited summarized pro forma financial information for the periods presented (in thousands, except per share data):

	Three Months Ended September 30,								Nine Months Ended September 30,
	2019				2018				2019				2018
Pro forma revenue	$	354,901			$	330,983			$	983,037			$	957,673
Pro forma net income	32,513				20,379				26,517				3,418
Pro forma income per share:
Basic	$	0.28			$	0.18			$	0.23			$	0.03
Diluted	0.27				0.17				0.22				0.03

X

- 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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- References

No definition available.

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X

- 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=116869197&loc=d3e4845-128472

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