Business Combinations (Tables)

6 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Allocation of Total Purchase Price Consideration

The Company has estimated the allocation of the total purchase price consideration between tangible assets, identified intangible assets, liabilities, and goodwill as follows (in millions):

Acquired tangible assets	$	6.4
Identified intangible assets	4.6
Liabilities assumed	(4.9		)
Goodwill	8.0
Total purchase price	$	14.1

Schedule of Finite-Lived Intangible Assets Acquired

The following table presents details of the intangible assets acquired during the six months ended June 30, 2019 (dollars in millions).

	Weighted Average Useful Life	Estimated Useful Life	Aggregate Acquisitions
Customer relationships	7 years	7 years	$	3.7
Customer backlog	9 months	9 months	0.4
Non-compete agreements	5 years	5 years	0.1
Trade name	1 year	1 year	0.1
Developed software	3 years	3 years	0.3
Total acquired intangible assets			$	4.6

The following table presents details of the intangible assets acquired during the year ended December 31, 2018 (dollars in millions):

	Weighted Average Useful Life	Estimated Useful Life	Aggregate Acquisitions
Customer relationships	5 years	5 - 6 years	$	10.6
Customer backlog	1 year	1 - 1.5 years	1.5
Non-compete agreements	5 years	4 - 5 years	0.3
Trade name	1 year	1 year	0.1
Developed software	3 years	3 years	0.4
Total acquired intangible assets			$	12.9

Pro-Forma Results of Operations

The aggregate amounts of revenue and net income of the Sundog acquisition in the Unaudited Condensed Consolidated Statements of Operations from the acquisition date to June 30, 2019 are as follows (in thousands):

	Acquisition Date to June 30, 2019
Revenues	$	1,239
Net income	$	(39	)

Pro-forma Results of Operations

The following presents the unaudited pro-forma combined results of operations of the Company with the 2018 and 2019 acquisitions for the six months ended June 30, 2019 and 2018, after giving effect to certain pro-forma adjustments and assuming the 2019 acquisitions were acquired as of the beginning of 2018 and the 2018 acquisitions were acquired as of the beginning of 2017.

These unaudited pro-forma results are presented in compliance with the adoption of ASU No. 2010-29, Business Combinations (Topic 805): Disclosure of Supplementary Pro Forma Information for Business Combinations, and are not necessarily

indicative of the actual consolidated results of operations had the acquisitions actually occurred on January 1, 2018 or January 1, 2017 or of future results of operations of the consolidated entities (in thousands except per share data):

	Six Months Ended June 30,
	2019		2018
Revenues	$	281,182	$	262,059
Net income	$	16,195	$	11,270
Basic net income per share	$	0.51	$	0.34
Diluted net income per share	$	0.50	$	0.33
Shares used in computing basic net income per share	31,554		32,973
Shares used in computing diluted net income per share	32,209		34,140