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Subsequent Events (Notes) | 3 Months Ended
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Mar. 31, 2020
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Business Partnerships Effective April 1, 2020, the Company purchased certain assets and intellectual and intangible rights and assumed certain liabilities of Insurance Risk Partners, LLC (“IRP”) and its principals for consideration consisting of $26.6 million of cash and 814,640 LLC Units (and the corresponding 814,640 shares of Class B common stock). IRP will also have the opportunity to receive additional contingent earnout consideration in cash and Class A common stock. The IRP Partnership was made to expand the Company’s capabilities within the energy and infrastructure business. The Company has not yet completed its evaluation and determination of consideration paid, certain assets and liabilities acquired, or treatment of this transaction as either a business combination or asset acquisition in accordance with Topic 805. Effective May 1, 2020, the Company purchased certain assets and intellectual and intangible rights and assumed certain liabilities of Pendulum, LLC. The Partnership was made to expand the Company's specialty risk consulting capabilities in the long-term care and senior living markets. The Company has not yet completed its evaluation and determination of consideration paid, certain assets and liabilities acquired, or treatment of this transaction as either a business combination or asset acquisition in accordance with Topic 805. Effective May 1, 2020, the Company purchased certain assets and intellectual and intangible rights and assumed certain liabilities of Southern Protective Group, LLC. The Partnership was made to expand the Company's risk consulting capabilities in the medical malpractice market. The Company has not yet completed its evaluation and determination of consideration paid, certain assets and liabilities acquired, or treatment of this transaction as either a business combination or asset acquisition in accordance with Topic 805. Other Events In April 2020, the Company granted an aggregate of 172,470 shares of restricted stock under the Omnibus Plan to its non-employee directors, executives and other qualifying Colleagues. On April 1, 2020, the Company borrowed an additional $24.5 million on the Revolving Credit Commitment to fund the IRP Partnership. On April 28, 2020, the Company converted $10.0 million of its borrowings previously drawn on the Revolving Credit Commitment for working capital purposes to utilize such proceeds for funding Partnerships that closed on May 1, 2020.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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