Business Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Allocation of Aggregate Purchase Consideration

The following table summarizes the allocation of the purchase consideration for all 2020 acquisitions (in thousands):

Assets and Liabilities	Valuation
Accounts receivable	$	46,332
Prepaid expenses and other current assets		9,105
Property and equipment		2,248
Operating lease right of use asset		10,644
Trade names		67,670
Customer relationships		222,582
Goodwill		218,745
Other intangibles		56,802
Other long-term assets		685
Deferred tax asset		992
Accounts payables and accrued expenses		(29,073)
Deferred revenue		(22,436)
Operating lease liabilities, current		(4,520)
Long-term debt		(910)
Operating lease liabilities, noncurrent		(13,104)
Income taxes payable		(3,297)
Liability for uncertain tax positions		(1,576)
Deferred tax liability		(53,870)
Other long-term liabilities		(9,269)
Total	$	497,750

The following table summarizes the allocation of the purchase consideration for the RetailMeNot, Inc. acquisition (in thousands):

Assets and Liabilities	Valuation
Accounts receivable	$	40,525
Prepaid expenses and other current assets		7,367
Property and equipment		587
Operating lease right of use asset		10,313
Trade names		62,940
Customer relationships		198,840
Goodwill		169,581
Other intangibles		42,610
Other long-term assets		494
Deferred tax asset		605
Accounts payables and accrued expenses		(24,526)
Deferred revenue		(11,175)
Operating lease liabilities, current		(4,029)
Operating lease liabilities, noncurrent		(13,085)
Income taxes payable		(3,308)
Liability for uncertain tax positions		(1,576)
Deferred tax liability		(52,504)
Other long-term liabilities		(9,275)
Total	$	414,384

The following table summarizes the allocation of the purchase consideration for all 2019 acquisitions (in thousands):

Assets and Liabilities	Valuation
Accounts receivable	$	22,796
Prepaid expenses and other current assets		4,528
Property and equipment		4,625
Operating lease right of use asset		4,982
Trade names		10,773
Customer relationships		123,611
Goodwill		253,096
Trademarks		32,540
Other intangibles		48,446
Other long-term assets		660
Accounts payables and accrued expenses		(31,292)
Other current liabilities		(516)
Deferred revenue		(27,953)
Operating lease liabilities, current		(1,768)
Operating lease liabilities, noncurrent		(3,215)
Income taxes payable		(762)
Liability for uncertain tax positions		(170)
Deferred tax liability		(10,229)
Other long-term liabilities		(635)
Total	$	429,517

The following table summarizes the allocation of the purchase consideration for all 2018 acquisitions (in thousands):

Assets and Liabilities	Valuation
Cash (1)	$	15,532
Accounts receivable		11,321
Prepaid expenses and other current assets		3,480
Property and equipment		4,755
Trade names		33,750
Customer relationships		66,516
Goodwill		194,282
Trademarks		3,285
Other intangibles		84,907
Other long-term assets		341
Deferred tax asset		821
Accounts payables and accrued expenses		(10,864)
Deferred revenue		(37,113)
Finance lease		(956)
Income tax payable		(1,458)
Deferred tax liability		(22,990)
Other long-term liabilities		(5,410)
Total	$	340,199

(1) Cash contains an immaterial amount of restricted cash associated with a pre-acquisition relationship with a vendor. The entire balance has been released during the third quarter of 2018.

Supplementary Information on Unaudited Pro Forma Financial Basis

The supplemental information on an unaudited pro forma financial basis presents the combined results of J2 Global and RetailMeNot, Inc. as if the acquisition had occurred on January 1, 2019 (in thousands, except per share amounts):

	Year ended
	December 31, 2020		December 31, 2019
	(unaudited)		(unaudited)
Revenues	$	1,639,495	$	1,589,437
Net income	$	140,880	$	190,709
EPS - Basic	$	3.03	$	3.94
EPS - Diluted	$	2.98	$	3.83

The supplemental information on an unaudited pro forma financial basis presents the combined results of J2 Global and its 2020 acquisitions as if each acquisition had occurred on January 1, 2019 (in thousands, except per share amounts):

	Year ended
	December 31, 2020		December 31, 2019
	(unaudited)		(unaudited)
Revenues	$	1,671,955	$	1,633,861
Net income	$	140,534	$	178,654
EPS - Basic	$	3.02	$	3.69
EPS - Diluted	$	2.97	$	3.59

The supplemental information on an unaudited pro forma financial basis presents the combined results of J2 Global and its 2019 acquisitions as if each acquisition had occurred on January 1, 2018 (in thousands, except per share amounts):

	Year ended
	December 31, 2019		December 31, 2018
	(unaudited)		(unaudited)
Revenues	$	1,474,132	$	1,427,914
Net income	$	211,303	$	104,710
EPS - Basic	$	4.36	$	2.15
EPS - Diluted	$	4.24	$	2.11

The supplemental information on an unaudited pro forma financial basis presents the combined results of J2 Global and its 2018 acquisitions as if each acquisition had occurred on January 1, 2017 (in thousands, except per share amounts):

	Year ended
	December 31, 2018		December 31, 2017
	(unaudited)		(unaudited)
Revenues	$	1,264,544	$	1,218,530
Net income	$	121,727	$	123,378
EPS - Basic	$	2.50	$	2.56
EPS - Diluted	$	2.45	$	2.50