XML 41 R26.htm IDEA: XBRL DOCUMENT
v3.24.3

Business Combinations and Asset Acquisitions (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the consideration transferred to acquire Beat and the estimated fair values of the identified assets acquired and liabilities assumed at the acquisition date, as well as the fair value of the noncontrolling interest, at the acquisition date:
Fair value of consideration transferred: |  |
Cash |  | $ | 252 |
Common shares |  | 29 |
Total consideration |  | 281 |
Recognized amounts of assets acquired, liabilities assumed and noncontrolling interests: |  |
Cash and equivalents |  | 8 |
Short-term investments |  | 29 |
Commission receivables |  | 5 |
Contract assets |  | 43 |
Other assets |  | 11 |
Intangible assets |  | 312 |
Goodwill |  | 350 |
Advanced commissions |  | (49) |
Premium payable |  | (6) |
Deferred tax liability |  | (74) |
Other liabilities |  | (20) |
Redeemable noncontrolling interest |  | (179) |
Nonredeemable noncontrolling interests |  | (148) |
Total |  | 281 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The following table sets forth the estimated fair values of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition:
|  | Fair Value |  | Useful Life - Years
Customer relationships |  | $ | 303 |  |  | 10.0
Trademarks |  | 8 |  |  | 10.0
Total |  | $ | 312 |  |  |
Business Acquisition, Pro Forma Information | The following unaudited pro forma summary presents consolidated information of Ambac as if the business combination had occurred on January 1, 2023.
|  | Nine Months Ended September 30,
Pro forma |  | 2024 |  | 2023
Revenues |  | $ | 362 |  |  | $ | 238 |
Net income (loss) |  | $ | 18 |  |  | $ | 4 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | At September 30, 2024, future amortization of Beat's acquired finite-lived intangible assets for the year 2024 (three months) through 2028 and thereafter will be:
Year |  | Estimated Expense
2024 |  | $ | 8 |
2025 |  | 31
2026 |  | 31
2027 |  | 31
2028 |  | 31
Thereafter |  | 174
Total |  | $ | 306 |

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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
Name: | us-gaap_FiniteLivedAndIndefiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration