Acquisition (Tables)

12 Months Ended

Dec. 31, 2020

The fair values of assets acquired and liabilities assumed were as follows:

				Measurement
				Period
(millions)	Initial			Adjustments			Final
Cash and cash equivalents	$	5.9					$	5.9
Notes and accounts receivable		13.2						13.2
Prepaid expenses and other current assets		2.0						2.0
Other noncurrent assets		0.2						0.2
Leasehold improvements, equipment and construction in progress		1.5						1.5
Other intangible assets, net		118.0						118.0
Goodwill		154.1			0.3			154.4
Accounts payable		(6.5	)					(6.5	)
Accrued and other current liabilities		(4.1	)		(0.3	)		(4.4	)
Other long-term liabilities		(0.7	)					(0.7	)
Net assets acquired and liabilities assumed	$	283.6		$	—		$	283.6

Acquired other Intangibles assets were as follows:

(millions)	Estimated Life	Fair Value
Trade name	5.0 Years	$	5.6
Customer relationships	12.4 - 15.8 Years		100.4
Existing technology	5.0 - 6.0 Years		10.4
Non-compete agreement	5.0 Years		1.6
Estimated fair value of identified intangibles		$	118.0

Additionally, the unaudited pro forma financial information does not reflect the costs that the company has incurred or may incur to integrate Bags.

(millions)	2018
Total services revenue	$	1,617.7
Net income attributable to SP Plus Corporation		55.1