Divestiture	3 Months Ended
Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Divestiture	4. Divestiture On August 4, 2021, the Company entered into an agreement to sell its Business Solutions business to Goldfinch Partners LLC and The Baupost Group LLC (collectively, “the Buyer”) for cash consideration of $910.0 million. The sale was completed in three closings, with the entire cash consideration collected at the first closing and allocated to the closings on a relative fair value basis. The final closing for this transaction occurred on July 1, 2023. During the period between the second and final closings, the Company was required to pay the Buyer a measure of profit of the European Union operations, while owned by the Company, adjusted for the occupancy charges for employees of the Buyer using Company facilities, and other items, as contractually agreed, which was $1.4 million for the three months ended March 31, 2023, and was included in Other expense, net in the Condensed Consolidated Statements of Income. The related income tax expense on this income was also passed to the Buyer. Business Solutions revenues included in the Condensed Consolidated Statements of Income were $15.4 million and direct operating expenses, excluding corporate allocations, were $13.5 million for the three months ended March 31, 2023. For the three months ended March 31, 2023, divestiture costs directly associated with this transaction were immaterial.

Divestiture

3 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

4. Divestiture

On August 4, 2021, the Company entered into an agreement to sell its Business Solutions business to Goldfinch Partners LLC and The Baupost Group LLC (collectively, “the Buyer”) for cash consideration of $910.0 million. The sale was completed in three closings, with the entire cash consideration collected at the first closing and allocated to the closings on a relative fair value basis. The final closing for this transaction occurred on July 1, 2023. During the period between the second and final closings, the Company was required to pay the Buyer a measure of profit of the European Union operations, while owned by the Company, adjusted for the occupancy charges for employees of the Buyer using Company facilities, and other items, as contractually agreed, which was $1.4 million for the three months ended March 31, 2023, and was included in Other expense, net in the Condensed Consolidated Statements of Income. The related income tax expense on this income was also passed to the Buyer.

Business Solutions revenues included in the Condensed Consolidated Statements of Income were $15.4 million and direct operating expenses, excluding corporate allocations, were $13.5 million for the three months ended March 31, 2023. For the three months ended March 31, 2023, divestiture costs directly associated with this transaction were immaterial.