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Business Combinations and Asset Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Changes in Contingent Consideration Measured at Fair Value on a Recurring Basis

Changes in contingent consideration measured at fair value on a recurring basis were as follows (in millions):

		Year Ended December 31,
		2021				2020				2019
Opening balance		$	39.8			$	16.4			$	19.6
Acquisitions			5.6				20.0				7.4
Fair value (gains) losses included in net loss			(4.7	)			8.9				(9.9	)
Payments			(16.3	)			(5.5	)			(0.7	)
Closing balance		$	24.4			$	39.8			$	16.4

2021 Acquisitions

Summary of Fair Value of Components of Purchase Consideration

The following table summarizes the aggregate fair value of the components of the purchase consideration, as of the respective dates of each of the business combinations and asset acquisitions (in millions):

Cash paid at closing		$	148.6
Class A common stock issued			5.8
Cash to be paid after closing			21.8
Contingent consideration			5.6
Non-controlling interest			3.8
		$	185.6

Summary of Preliminary Allocation of Purchase Price

The following table summarizes the preliminary allocations of the purchase price for the business combinations and asset acquisitions (in millions):

Cash and cash equivalents		$	11.2
Other current assets			4.1
Property and equipment			2.5
Goodwill (1)			68.5
Operating lease right-of-use assets			12.8
Intangible assets (2)
Acquired Technology			5.5
Customer relationships			90.7
Trademarks			11.3
Total assets		$	206.6
Total liabilities		$	(21.0	)
Net assets		$	185.6

(1) Approximately $22.9 million of the goodwill is deductible for tax purposes. The amount of tax-deductible goodwill may increase in the future to approximately $52.1 million dependent on the payment of certain holdbacks and acquisition related compensation arrangements. These amounts are not expected to have an impact on the income tax provision while the Company maintains a full valuation allowance on its domestic deferred tax assets.

(2) The identified intangible assets have a useful life of 2-9 years.

2020 Acquisitions | Modus Technologies, Inc [Member]

Summary of Fair Value of Components of Purchase Consideration

The following table summarizes the aggregate fair value of the components of the purchase consideration, as of the respective dates of each of the acquisitions (in millions):

		Modus Technologies, Inc.				Other
Cash paid at closing		$	27.7			$	0.9
Cash to be paid after closing			2.0				—
Contingent consideration (payable in the form of cash and Class A common stock)			20.0				—
		$	49.7			$	0.9

Summary of Preliminary Allocation of Purchase Price

The following table summarizes the allocations of the purchase price (in millions):

		Modus Technologies, Inc.				Other
Cash and cash equivalents		$	3.0			$	—
Other current assets			0.1				—
Property and equipment			0.5				—
Goodwill (1)			38.4				—
Operating lease right-of-use assets			4.1				—
Intangible assets (2):
Acquired technology			6.3				—
Customer relationships			1.3				0.9
Trademarks			1.7				—
Total assets		$	55.4			$	0.9
Total liabilities		$	(5.7	)		$	—
Net assets		$	49.7			$	0.9

(1) The goodwill is non-tax deductible.

(2) The identified intangible assets have a useful life of 3-6 years.

2019 Acquisitions | Contactually, Inc [Member]

Summary of Fair Value of Components of Purchase Consideration

The following table summarizes the aggregate fair value of the components of the purchase consideration, as of the respective dates of each of the acquisitions (in millions):

		Contactually, Inc.				Other
Cash paid at closing		$	24.5			$	14.6
Elimination of pre-existing relationships			1.6				—
Contingent consideration (payable in the form of cash)			—				7.4
		$	26.1			$	22.0

Summary of Preliminary Allocation of Purchase Price

The following table summarizes the allocation of the purchase price (in millions):

		Contactually, Inc.				Other
Cash and cash equivalents		$	1.0			$	2.8
Other current assets			1.0				0.4
Property and equipment			—				6.7
Goodwill (1)			21.3				6.2
Operating lease right-of-use assets			1.8				33.7
Intangible assets (2):
Acquired technology			5.7				—
Customer relationships			—				6.5
Trademarks			—				0.6
Other non-current assets			0.3				1.1
Total assets		$	31.1			$	58.0
Total liabilities		$	(5.0	)		$	(36.0	)
Net assets		$	26.1			$	22.0

(1) The goodwill is non-tax deductible.

(2) The identified intangible assets have a useful life of 2-9 years.

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- Definition

Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

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