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Business Acquisitions and Dispositions (Tables)
12 Months Ended
Dec. 31, 2021
Business Combinations [Abstract]  
Schedule of Valuation Identified Assets Acquired and Liabilities Assumed

Assets acquired and liabilities assumed as of acquisition date are presented in the following table:

 

 

 

Crawford Carvallo

 

 

HBA Group

 

 

edjuster Inc.

 

 

Praxis Consulting Inc.

 

 

BosBoon Expertise Group B.V.

 

 

 

October 1, 2020

 

 

November 1, 2020

 

 

August 23, 2021

 

 

October 1, 2021

 

 

October 1, 2021

 

 

 

(In thousands)

 

Tangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

1,599

 

 

$

240

 

 

$

1,723

 

 

$

 

 

$

 

Accounts receivable

 

 

3,631

 

 

 

1,081

 

 

 

1,518

 

 

 

119

 

 

 

469

 

Unbilled revenues

 

 

3,237

 

 

 

598

 

 

 

1,531

 

 

 

 

 

 

597

 

Right-of-use lease assets

 

 

8,743

 

 

 

1,502

 

 

 

418

 

 

 

430

 

 

 

586

 

Other assets

 

 

4,660

 

 

 

205

 

 

 

1,520

 

 

 

316

 

 

 

75

 

Total tangible assets

 

 

21,870

 

 

 

3,626

 

 

 

6,710

 

 

 

865

 

 

 

1,727

 

Intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

 

4,118

 

 

 

1,574

 

 

 

5,346

 

 

 

20,000

 

 

 

1,384

 

Developed technology

 

 

1,300

 

 

 

 

 

 

2,673

 

 

 

1,500

 

 

 

 

Non-compete agreements

 

 

1,600

 

 

 

 

 

 

157

 

 

 

225

 

 

 

 

Tradenames

 

 

300

 

 

 

 

 

 

1,101

 

 

 

2,125

 

 

 

346

 

Goodwill

 

 

7,738

 

 

 

6,245

 

 

 

12,799

 

 

 

26,195

 

 

 

1,571

 

Total intangible assets

 

 

15,056

 

 

 

7,819

 

 

 

22,076

 

 

 

50,045

 

 

 

3,301

 

Total assets acquired

 

 

36,926

 

 

 

11,445

 

 

 

28,786

 

 

 

50,910

 

 

 

5,028

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities assumed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

4,657

 

 

 

2,532

 

 

 

2,066

 

 

 

4,133

 

 

 

1,430

 

Operating lease liabilities

 

 

8,743

 

 

 

1,502

 

 

 

418

 

 

 

430

 

 

 

586

 

Tax liabilities

 

 

2,599

 

 

 

976

 

 

 

2,557

 

 

 

 

 

 

378

 

Total liabilities assumed

 

 

15,999

 

 

 

5,010

 

 

 

5,041

 

 

 

4,563

 

 

 

2,394

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net assets acquired before noncontrolling interest

 

 

20,927

 

 

 

6,435

 

 

 

23,745

 

 

 

46,347

 

 

 

2,634

 

Noncontrolling interest

 

 

489

 

 

 

 

 

 

 

 

 

 

 

 

 

Net assets acquired after noncontrolling interest

 

$

20,438

 

 

$

6,435

 

 

$

23,745

 

 

$

46,347

 

 

$

2,634

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchase price (cash)

 

$

11,583

 

 

$

4,026

 

 

$

20,875

 

 

$

21,544

 

 

$

2,066

 

Fair value of noncontrolling interest previously held

 

 

3,047

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred purchase consideration payable

 

 

 

 

 

 

 

 

433

 

 

 

20,735

 

 

 

 

Fair value of contingent consideration

 

 

5,808

 

 

 

2,409

 

 

 

2,437

 

 

 

4,068

 

 

 

568

 

Fair value of total consideration transferred

 

$

20,438

 

 

$

6,435

 

 

$

23,745

 

 

$

46,347

 

 

$

2,634

 

Schedule - Preliminary Fair Values Assigned to Identifiable Intangible Assets The following table shows the preliminary fair values assigned to identifiable intangible assets:

 

 

 

Fair Value

 

 

Weighted-Average Amortization Period (Years)

 

 

 

(In thousands)

 

 

 

 

Amortizable tangible assets

 

 

 

 

 

 

Customer relationships

 

$

32,422

 

 

 

15

 

Developed technology

 

 

5,473

 

 

 

10

 

Non-compete agreements

 

 

1,982

 

 

 

8

 

Tradenames

 

 

3,872

 

 

 

7

 

Total amortizable intangible assets

 

$

43,749