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Business Combinations (Tables) | 6 Months Ended
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Jun. 30, 2020
Business Combinations [Abstract] |
Summary of Preliminary Purchase Price Allocation | The following table summarizes the preliminary purchase price allocation determined as of the purchase date:
(in millions) |  |
Cash and Cash Equivalents |  | $ | 14.0 |
Other Current Assets1 |  | 11.3 |
Goodwill2 |  | 19.1 |
Intangible Assets3 |  | 27.6 |
Other Long-Term Assets |  | 9.8 |
Less: Liabilities Acquired |  | (26.9 | )
Less: Fair Value of Redeemable Noncontrolling Interest in Subsidiary4 |  | (34.5 | )
Total Purchase Price Consideration |  | $ | 20.4 |
1 | Includes $4.6 million of accounts receivable.
2 | The goodwill recognized is attributable to enhanced revenue and AUM growth opportunities from future investors and the assembled workforce of HGPE. In this instance, goodwill is not deductible for tax purposes.
3 | Includes $20.3 million for rights to manage fund assets for private equity funds with a weighted-average useful life of 9.0 years and $6.9 million for rights to manage fund assets for infrastructure funds with a weighted-average useful life of 11.0 years, all of which are recorded in Intangible Assets, net on the Consolidated Balance Sheets.
4 The fair value of the noncontrolling interest was determined utilizing primarily the discounted cash flow methodology under the income approach.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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