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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Preliminary Allocation Of Purchase Price | The purchase price was as follows:
(in millions) | Amount |
Cash and stock consideration per agreement | $ | 220 |  |
Closing adjustments | 3 |  |
Total consideration payable | 223 |  |
Less: Unvested Zenefits restricted stock | (14) |  |
Total purchase price | $ | 209 |  |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the fair value of the net assets acquired and allocation of the purchase price:
(in millions) | Amount |
Total purchase price | $ | 209 |  |
Asset Acquired: |  |
Cash | $ | 4 |  |
Restricted cash | 5 |  |
Accounts receivable, net | 4 |  |
Intangible assets | 96 |  |
Operating lease right-of-use asset | 9 |  |
Deferred tax asset | 2 |  |
Other assets | 5 |  |
Total assets acquired | 125 |  |
Liabilities Assumed |  |
Accounts payable and other current liabilities | $ | 9 |  |
Deferred revenue | 13 |  |
Operating lease liabilities | 15 |  |
Deferred taxes | 18 |  |
Total liabilities assumed | 55 |  |
Net assets acquired | $ | 70 |  |
Goodwill at acquisition | $ | 139 |  |
Measurement period adjustments | (3) |  |
Goodwill at December 31, 2022 | $ | 136 |  |
The following table summarizes the fair value of the net assets acquired and preliminary allocation of the purchase price:
(in millions) | Amount |
Total purchase price | $ | 48 |  |
Asset Acquired: |  |
Cash | $ | 3 |  |
Accounts receivable, net | 3 |  |
Intangible assets | 14 |  |
Total assets acquired | 20 |  |
Liabilities Assumed |  |
Accounts payable and other current liabilities | $ | 1 |  |
Deferred taxes | 3 |  |
Total liabilities assumed | 4 |  |
Net assets acquired | $ | 16 |  |
Goodwill at acquisition | $ | 32 |  |
Goodwill at December 31, 2022 | $ | 32 |  |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The intangible assets acquired were as follows:
(in millions) | Amount | Estimated Useful Life |
Acquired technology | $ | 56 |  | 6 years |
Customer relationships | 40 |  | 7 years |
Total intangible assets | $ | 96 |  |  |
The intangible assets acquired were as follows:
(in millions) | Amount | Estimated Useful Life |
Acquired technology | $ | 9 |  | 6 years |
Customer relationships | 5 |  | 3 - 5 years |
Total intangible assets | $ | 14 |  |  |

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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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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