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Business Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2020
Business Combinations [Abstract] |
Allocation of Aggregate Purchase Consideration | The following table summarizes the allocation of the purchase consideration for all 2020 acquisitions (in thousands):
Assets and Liabilities | Valuation
Accounts receivable | $ | 46,332 |
Prepaid expenses and other current assets |  | 9,105 |
Property and equipment |  | 2,248 |
Operating lease right of use asset |  | 10,644 |
Trade names |  | 67,670 |
Customer relationships |  | 222,582 |
Goodwill |  | 218,745 |
Other intangibles |  | 56,802 |
Other long-term assets |  | 685 |
Deferred tax asset |  | 992 |
Accounts payables and accrued expenses |  | (29,073) |
Deferred revenue |  | (22,436) |
Operating lease liabilities, current |  | (4,520) |
Long-term debt |  | (910) |
Operating lease liabilities, noncurrent |  | (13,104) |
Income taxes payable |  | (3,297) |
Liability for uncertain tax positions |  | (1,576) |
Deferred tax liability |  | (53,870) |
Other long-term liabilities |  | (9,269) |
Total | $ | 497,750 |
The following table summarizes the allocation of the purchase consideration for the RetailMeNot, Inc. acquisition (in thousands):
Assets and Liabilities | Valuation
Accounts receivable | $ | 40,525 |
Prepaid expenses and other current assets |  | 7,367 |
Property and equipment |  | 587 |
Operating lease right of use asset |  | 10,313 |
Trade names |  | 62,940 |
Customer relationships |  | 198,840 |
Goodwill |  | 169,581 |
Other intangibles |  | 42,610 |
Other long-term assets |  | 494 |
Deferred tax asset |  | 605 |
Accounts payables and accrued expenses |  | (24,526) |
Deferred revenue |  | (11,175) |
Operating lease liabilities, current |  | (4,029) |
Operating lease liabilities, noncurrent |  | (13,085) |
Income taxes payable |  | (3,308) |
Liability for uncertain tax positions |  | (1,576) |
Deferred tax liability |  | (52,504) |
Other long-term liabilities |  | (9,275) |
Total | $ | 414,384 |
The following table summarizes the allocation of the purchase consideration for all 2019 acquisitions (in thousands):
Assets and Liabilities | Valuation
Accounts receivable | $ | 22,796 |
Prepaid expenses and other current assets |  | 4,528 |
Property and equipment |  | 4,625 |
Operating lease right of use asset |  | 4,982 |
Trade names |  | 10,773 |
Customer relationships |  | 123,611 |
Goodwill |  | 253,096 |
Trademarks |  | 32,540 |
Other intangibles |  | 48,446 |
Other long-term assets |  | 660 |
Accounts payables and accrued expenses |  | (31,292) |
Other current liabilities |  | (516) |
Deferred revenue |  | (27,953) |
Operating lease liabilities, current |  | (1,768) |
Operating lease liabilities, noncurrent |  | (3,215) |
Income taxes payable |  | (762) |
Liability for uncertain tax positions |  | (170) |
Deferred tax liability |  | (10,229) |
Other long-term liabilities |  | (635) |
Total | $ | 429,517 |
The following table summarizes the allocation of the purchase consideration for all 2018 acquisitions (in thousands):
Assets and Liabilities | Valuation
Cash (1) | $ | 15,532 |
Accounts receivable |  | 11,321 |
Prepaid expenses and other current assets |  | 3,480 |
Property and equipment |  | 4,755 |
Trade names |  | 33,750 |
Customer relationships |  | 66,516 |
Goodwill |  | 194,282 |
Trademarks |  | 3,285 |
Other intangibles |  | 84,907 |
Other long-term assets |  | 341 |
Deferred tax asset |  | 821 |
Accounts payables and accrued expenses |  | (10,864) |
Deferred revenue |  | (37,113) |
Finance lease |  | (956) |
Income tax payable |  | (1,458) |
Deferred tax liability |  | (22,990) |
Other long-term liabilities |  | (5,410) |
Total | $ | 340,199 |
(1) Cash contains an immaterial amount of restricted cash associated with a pre-acquisition relationship with a vendor. The entire balance has been released during the third quarter of 2018.
Supplementary Information on Unaudited Pro Forma Financial Basis | The supplemental information on an unaudited pro forma financial basis presents the combined results of J2 Global and RetailMeNot, Inc. as if the acquisition had occurred on January 1, 2019 (in thousands, except per share amounts):
| Year ended
| December 31, 2020 |  | December 31, 2019
| (unaudited) |  | (unaudited)
Revenues | $ | 1,639,495 |  |  | $ | 1,589,437 |
Net income | $ | 140,880 |  |  | $ | 190,709 |
EPS - Basic | $ | 3.03 |  |  | $ | 3.94 |
EPS - Diluted | $ | 2.98 |  |  | $ | 3.83 |
The supplemental information on an unaudited pro forma financial basis presents the combined results of J2 Global and its 2020 acquisitions as if each acquisition had occurred on January 1, 2019 (in thousands, except per share amounts):
| Year ended
| December 31, 2020 |  | December 31, 2019
| (unaudited) |  | (unaudited)
Revenues | $ | 1,671,955 |  |  | $ | 1,633,861 |
Net income | $ | 140,534 |  |  | $ | 178,654 |
EPS - Basic | $ | 3.02 |  |  | $ | 3.69 |
EPS - Diluted | $ | 2.97 |  |  | $ | 3.59 |
The supplemental information on an unaudited pro forma financial basis presents the combined results of J2 Global and its 2019 acquisitions as if each acquisition had occurred on January 1, 2018 (in thousands, except per share amounts):
| Year ended
| December 31, 2019 |  | December 31, 2018
| (unaudited) |  | (unaudited)
Revenues | $ | 1,474,132 |  |  | $ | 1,427,914 |
Net income | $ | 211,303 |  |  | $ | 104,710 |
EPS - Basic | $ | 4.36 |  |  | $ | 2.15 |
EPS - Diluted | $ | 4.24 |  |  | $ | 2.11 |
The supplemental information on an unaudited pro forma financial basis presents the combined results of J2 Global and its 2018 acquisitions as if each acquisition had occurred on January 1, 2017 (in thousands, except per share amounts):
| Year ended
| December 31, 2018 |  | December 31, 2017
| (unaudited) |  | (unaudited)
Revenues | $ | 1,264,544 |  |  | $ | 1,218,530 |
Net income | $ | 121,727 |  |  | $ | 123,378 |
EPS - Basic | $ | 2.50 |  |  | $ | 2.56 |
EPS - Diluted | $ | 2.45 |  |  | $ | 2.50 |

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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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