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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Components of Other Intangibles Acquired

The components of “Other intangibles” listed in the above table as of the acquisition date are preliminarily estimated as follows (in thousands):

					Accumulated				Balance at				Estimated Useful
	Amount				Amortization				December 31, 2020				Life
Customer relationships	$	52,683			$	293			$	52,390			15 years
Agent relationships	$	2,432			$	51			$	2,381			4 years
Trade name	$	1,621			$	90			$	1,531			18 months

Nonstop Delivery ,LLC [Member]

Preliminary Allocation of Total Consideration to Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary allocation of the total consideration to the assets acquired and liabilities assumed as of the date of the acquisition (in thousands):

	December 9, 2020
Cash and cash equivalents	$	4,829
Accounts receivable trade		26,250
Prepaid expenses and other current assets		207
Property and equipment		2,907
Right of use assets - operating leases		1,105
Goodwill, net		24,315
Other intangibles		56,736
Other assets		42
Total assets acquired	$	116,391
Accounts payable trade	$	9,972
Accrued payroll		1,324
Accrued other		578
Lease liability - operating leases		364
Lease liability - financing leases		864
Total liabilities assumed	$	13,102
Total consideration	$	103,289
Cash paid, net	$	84,845

CaseStack, Inc. [Member]

Preliminary Allocation of Total Consideration to Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the total consideration to the assets acquired and liabilities assumed as of the date of the acquisition (in thousands):

Accounts receivable trade	$	31,896
Prepaid expenses and other current assets		694
Property and equipment		3,247
Deferred tax assets		6,433
Goodwill, net		166,070
Other intangibles		75,600
Other assets		120
Total assets acquired	$	284,060
Accounts payable trade	$	24,542
Accrued payroll		2,811
Accrued other		3,849
Total liabilities assumed	$	31,202
Total consideration	$	252,858

Summary of Total Purchase Price Allocated to Net Assets Acquired

The following table summarizes the total purchase price allocated to the net assets acquired (in thousands):

Cash paid	$	249,389
Deferred purchase consideration		3,469
Total consideration	$	252,858

Unaudited Pro forma Consolidated Results of Operations

The following unaudited pro forma consolidated results of operations presents the effects of NSD as though it had been acquired as of January 1, 2019 and CaseStack as though it had been owned as of January 1, 2018 (in thousands, except for per share amounts):

	Twelve Months Ended
	December 31, 2020				December 31, 2019				December 31, 2018
Revenue	$	3,584,538			$	3,733,507			$	3,912,745
Income from continuing operations	$	84,874			$	107,998			$	133,310
Earnings per share (1)
Basic	$	2.56			$	3.24			$	2.81
Diluted	$	2.53			$	3.23			$	2.79

(1) Earnings per share is from continuing operations.

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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.

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