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Acquisitions and Divestitures (Tables) | 6 Months Ended
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Jun. 30, 2017
Business Combinations [Abstract] |
Summary of Consideration Transferred | The following is a summary of the components of the consideration transferred as part of the acquisition:
| (Restated)
Cash consideration for outstanding common shares | $ | 102,538 |
Issuance of Common Stock | 22,000 |
Intellectual Property Settlement | (10,000 | )
Total consideration transferred | 114,538 |
Issuance of Common Stock | (22,000 | )
Cash Consideration Transferred | $ | 92,538 |
The following is a summary of the components of the consideration transferred as part of the acquisition:
Cash consideration for outstanding Intralinks' common shares | $ | 746,071 |
Cash consideration for accelerated equity awards to Intralinks' employees upon change in control | 7,873 |
Cash consideration for vested unexercised Intralinks' stock options | 19,838 |
Cash consideration for existing Intralinks' debt | 77,800 |
Cash consideration for shareholders purchase price settlement | 2,794 |
Total cash consideration transferred | 854,376 |
Fair value of replacement awards | 4,702 |
Total consideration transferred | $ | 859,078 |
Summary of fair values of assets and liabilities assumed at acquisition date | The purchase price allocation as of the date of the acquisition was as follows:
| Weighted Average Life in Years |  | Purchase Price Allocation
Cash |  |  | $ | 39,370 |
Accounts receivable |  |  | 46,182 |
Prepaid expenses and other assets |  |  | 9,775 |
Property and equipment, net | 4 |  | 14,075 |
Goodwill |  |  | 482,822 |
Intangible Assets: |  |  |
Developed technology | 6 |  | 79,400 |
Capitalized software costs | 1 |  | 277 |
Trade name | 18 |  | 47,800 |
Customer relationships | 10 |  | 284,100 |
|  |  | 411,577 |
Other assets, long-term |  |  | 3,865 |
Investment in unconsolidated affiliate |  |  | 5,800 |
Total assets acquired |  |  | 1,013,466 |
Accounts payable |  |  | 4,853 |
Accrued expenses |  |  | 21,421 |
Deferred revenues, short-term |  |  | 12,449 |
Deferred tax liability |  |  | 110,044 |
Deferred revenues, long-term |  |  | 1,051 |
Other liabilities, long-term |  |  | 4,570 |
Total liabilities |  |  | 154,388 |
Net assets acquired |  |  | $ | 859,078 |
The Company determined the fair value of the net assets acquired as follows:
(Restated) | Purchase Price Allocation |
Cash | $ | 4,110 |  |
Prepaid expenses and other assets | 3,005 |  |
Property, Plant & Equipment | 2,882 |  |
Long term assets | 1,870 |  |
Intangible assets: |  | Wtd. Avg.
Trade name | 1,000 |  | 1 year
Technology | 32,100 |  | 7 years
Customer relationships | 29,000 |  | 10 years
Goodwill | 81,015 |  |
Total assets acquired | 154,982 |  |
Accounts payable and accrued liabilities | 17,622 |  |
Deferred revenues | 7,331 |  |
Long term liabilities | 15,491 |  |
Net assets acquired | $ | 114,538 |  |
Operating results of discontinued operations | The following is a summary of the operating results of Intralinks during the three and six months ended June 30, 2017, which have been reflected within income from discontinued operations, net of tax:
| Three Months Ended June 30, 2017 |  | Six Months Ended June 30, 2017
Net revenues | $ | 64,952 |  |  | $ | 104,211 |
Costs and expenses: |  |  |
Cost of services | 12,040 |  |  | 20,796 |
Research and development | 7,029 |  |  | 12,452 |
Selling, general and administrative | 40,050 |  |  | 69,518 |
Net change in contingent consideration obligation | — |  |  | — |
Restructuring charges | 7,407 |  |  | 15,433 |
Depreciation and amortization | 12,552 |  |  | 22,690 |
Total costs and expenses | 79,078 |  |  | 140,889 |
Loss from discontinued operations | (14,126 | ) |  | (36,678 | )
Other income, net | 657 |  |  | 927 |
Loss from discontinued operations, before taxes | (13,469 | ) |  | (35,751 | )
Benefit for income taxes | 6,694 |  |  | 12,842 |
Discontinued operations, net of taxes | $ | (6,775 | ) |  | $ | (22,909 | )
The following is a summary of the operating results of BPO which have been reflected within income from discontinued operations, net of tax:
| Three Months Ended June 30, 2016 (Restated) |  | Six Months Ended June 30, 2016 (Restated)
Net revenues | $ | 38,108 |  |  | $ | 74,464 |
Costs and expenses: |  |  |
Cost of services | 23,001 |  |  | 44,859 |
Selling, general and administrative | 718 |  |  | 1,437 |
Total costs and expenses | 23,719 |  |  | 46,296 |
Income from discontinued operations before taxes | 14,389 |  |  | 28,168 |
Benefit (provision) for income taxes | 4,596 |  |  | (10,369 | )
Discontinued operations, net of taxes | $ | 18,985 |  |  | $ | 17,799 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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