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Acquisitions and Dispositions (Tables)

6 Months Ended

Jun. 30, 2023

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The purchase price allocation is as follows:

						Amount
						(dollars in thousands)
Cash and cash equivalents						$	2,766
Accounts receivable						10,147
Other current assets						671
Fixed assets						1,587
Identifiable intangible assets						12,740
Other assets						1,583
Accounts payable						(4,771)
Accruals and other liabilities						(6,880)
Advance billings						(1,159)
Other liabilities						(3,642)
Net assets assumed						13,042
Goodwill						24,643
Purchase price consideration						$	37,685

The purchase price allocation is as follows:

						Amount
						(dollars in thousands)
Accounts receivable						$	582
Other current assets						669
Identifiable intangible assets						13,200
Accounts payable						(379)
Other liabilities						(270)
Noncontrolling interests						(2,667)
Net assets assumed						11,135
Goodwill						6,569
Purchase price consideration						$	17,704

The preliminary purchase price allocation is as follows:

						Amount
						(dollars in thousands)
Cash and cash equivalents						$	1,033
Accounts receivable						7,374
Other current assets						899
Fixed assets						157
Identifiable intangible assets						14,300
Other assets						1,920
Accounts payable						(4,087)
Accruals and other liabilities						(9,154)
Advance billings						(6,462)
Deferred tax liability						(3,328)
Other liabilities						(3,591)
Net assets assumed						(939)
Goodwill						26,733
Purchase price consideration						$	25,794

The preliminary purchase price allocation is as follows:

						Amount
						(dollars in thousands)
Cash and cash equivalents						$	1,606
Accounts receivable						1,180
Other current assets						100
Identifiable intangible assets						1,055
Other assets						46
Current liabilities						(278)
Net assets assumed						3,709
Goodwill						2,451
Purchase price consideration including fair value of previously owned interest						$	6,160

The preliminary purchase price allocation is as follows:

						Amount
						(dollars in thousands)
Accounts receivable						$	901
Other current assets						45
Identifiable intangible assets						7,300
Accounts payable						(148)
Other current liabilities						(650)
Net assets assumed						7,448
Goodwill						4,416
Purchase price consideration						$	11,864

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table presents the details of identifiable intangible assets acquired:

						Fair Value						Estimated Useful Life in Years
						(dollars in thousands)
Customer relationships						$	6,150					10
Trade names						5,500						10
Developed technology						1,090						7
Total acquired intangible assets						$	12,740

The following table presents the details of identifiable intangible assets acquired:

						Fair Value						Estimated Useful Life in Years
						(dollars in thousands)
Customer relationships						$	11,400					10
Trade names						1,800						10
Total acquired intangible assets						$	13,200

The following table presents the details of identifiable intangible assets acquired:

						Estimated Fair Value						Estimated Useful Life in Years
						(dollars in thousands)
Customer relationships						$	4,900					10
Trade names						4,000						10
Developed technology						5,400						2-7
Total acquired intangible assets						$	14,300

Business Acquisition, Pro Forma Information

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisition been consummated as of that time.

						Three Months Ended June 30, 2022						Six Months Ended June 30, 2022
						(dollars in thousands)
Revenue						$	675,414					$	1,326,042
Net income						$	24,520					$	57,396

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisition been consummated as of that time.

						Three Months Ended June 30, 2022						Six Months Ended June 30, 2022
						(dollars in thousands)
Revenue						$	674,737					$	1,319,646
Net income						$	25,153					$	59,494

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisition been consummated as of that time.

						Three Months Ended June 30, 2022						Six Months Ended June 30, 2022
						(dollars in thousands)
Revenue						$	683,671					$	1,337,046
Net income						$	21,190					$	49,300

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisition been consummated as of that time.

						Three Months Ended June 30, 2022						Six Months Ended June 30, 2022
						(dollars in thousands)
Revenue						$	675,622					$	1,322,931
Net income						$	25,172					$	59,654

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisition been consummated as of that time.

						Three Months Ended June 30, 2022						Six Months Ended June 30, 2022
						(dollars in thousands)
Revenue						$	674,015					$	1,317,900
Net income						$	24,392					$	57,875

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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X

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- Definition

Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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