Restatement of Previously Issued Condensed Financial Statements (Tables)

3 Months Ended

Mar. 31, 2021

Accounting Changes and Error Corrections [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

Interim Condensed Consolidated Statements of Operations (Unaudited)
	Three Months Ended March 31, 2020
	As Originally Reported		Reclassification (a)		Restatement Impacts		Restatement Reference	As Reclassified and Restated
Revenues, net	$	240,592	$	—	$	—		$	240,592
Operating expenses:
Cost of revenues	(82,399)		(283)		—			(82,682)
Selling, general and administrative costs	(86,948)		(46,107)		—			(133,055)
Share-based compensation expense	(17,469)		17,469					—
Depreciation	(2,329)		—		—			(2,329)
Amortization	(49,112)		—		—			(49,112)
Transaction expenses	(26,689)		26,689		—			—
Transition, integration and other related expenses	(2,232)		2,232		—			—
Restructuring and impairment	(7,754)		—		—			(7,754)
Other operating income, net	6,032		—		—			6,032
Total operating expenses	(268,900)		—		—			(268,900)
Loss from operations	(28,308)		—		—			(28,308)
Mark to market on financial instruments	—		—		(55,632)		(b)	(55,632)
Loss before interest expense and income tax	(28,308)		—		(55,632)			(83,940)
Interest expense and amortization of debt discount, net	(30,940)		—		—			(30,940)
Loss before income tax	(59,248)		—		(55,632)		(b)	(114,880)
Provision for income taxes	(14,753)		—		—			(14,753)
Net loss	$	(74,001)	$	—	$	(55,632)	(b)	$	(129,633)
Per share:
Basic and diluted	$	(0.22)			$	(0.16)		$	(0.38)
Weighted average shares used to compute earnings per share:
Basic and diluted	343,129,833				343,129,833			343,129,833

(a) Reclassifications - The reclassifications are needed to conform to the current financial statement line items on the Condensed Consolidated Statements of Operations.

(b) Mark to market adjustment on financial instruments - The correction of these misstatements resulted in an adjustment of $(55,632) that was recorded through the Statement of Operations, increasing the Net loss.

Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

	Three Months Ended March 31, 2020
	As Originally Reported		Restatement Impacts		As Restated
Net loss	$	(74,001)	(55,632)		$	(129,633)
Other comprehensive income (loss), net of tax:
Interest rate swaps	(2,890)		—		(2,890)
Defined benefit pension plans, net of tax	(67)		—		(67)
Foreign currency translation adjustment	(5,513)		—		(5,513)
Total other comprehensive loss, net of tax	(8,470)		—		(8,470)
Comprehensive loss	$	(82,471)	$	(55,632)	$	(138,103)

Interim Condensed Consolidated Statement of Changes in Equity (Unaudited)
		Share Capital			Accumulated Other Comprehensive Income (Loss)		Accumulated Deficit		Total Shareholders’  Equity
	Restatement Reference	Shares	Amount
Balance at December 31, 2019 (As Restated)	(c)	306,874,115	$	2,144,372	$	(4,879)	$	(890,894)	$	1,248,599
Adjustment to opening Accumulated deficit related to adoption of ASC Topic 326		—	—		—		(9,319)		$	(9,319)
Exercise of public warrants (As Restated)		28,880,098	277,526		—		—		$	277,526
Exercise of stock options		3,715,455	1,182		—		—		$	1,182
Vesting of restricted stock units		169,842	—		—		—		$	—
Shares returned to the Company for net share settlements		(2,301,458)	(10,302)		—		—		$	(10,302)
Issuance of ordinary shares, net		27,600,000	539,714		—		—		$	539,714
Share-based award activity		—	16,384		—		—		$	16,384
Net loss (As Restated)	(c)	—	—		—		$	(129,633)	$	(129,633)
Other comprehensive income (loss)		—	—		(8,470)		—		$	(8,470)
Balance at March 31, 2020 (As Restated)	(c)	364,938,052	2,968,876		(13,349)		(1,029,846)		1,925,681

(c) - The correction of these misstatements resulted in reduction to ordinary shares within equity in the amount of $64,157 to a liability on the Condensed Consolidated Balance Sheet. The correction also includes the mark to market adjustment on financial instruments. The correction of these misstatements resulted in an adjustment of $(55,632) that was recorded through the Statement of Operations, increasing the Net (loss).

Interim Condensed Consolidated Statement of Cash Flows (Unaudited)

	Three Months Ended March 31, 2020
	As Originally Reported		Restatement Impacts	As Restated
Cash Flows From Operating Activities
Net loss	$	(74,001)	(55,632)	$	(129,633)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	51,441		—	51,441
Deferred income tax benefit	4,214		—	4,214
Share-based compensation	16,502		—	16,502
Mark to market adjustment on contingent and phantom shares (1)	1,187		—	1,187
Mark to market adjustment on financial instruments (As Restated)	—		55,632	55,632
Deferred finance charges	1,008		—	1,008
Other operating activities	(7,015)		—	(7,015)
Changes in operating assets and liabilities:
Accounts receivable	29,279		—	29,279
Prepaid expenses	(7,349)		—	(7,349)
Other assets	54,644		—	54,644

Accounts payable	758		—		758
Accrued expenses and other current liabilities (1)	(13,222)		—		(13,222)
Deferred revenues	40,726		—		40,726
Operating lease right of use assets	5,919		—		5,919
Operating lease liabilities	(5,876)		—		(5,876)
Other liabilities	(52,109)		—		(52,109)
Net cash provided by operating activities	46,106		—		46,106
Cash Flows From Investing Activities
Capital expenditures	(19,395)		—		(19,395)
Acquisitions, net of cash acquired	(885,323)		—		(885,323)
Proceeds from sale of product line, net of restricted cash	3,751		—		3,751
Net cash used in investing activities	(900,967)		—		(900,967)
Cash Flows From Financing Activities
Principal payments on term loan	(3,150)		—		(3,150)
Repayments of revolving credit facility	(65,000)		—		(65,000)
Payment of debt issuance costs	(5,014)		—		(5,014)
Contingent purchase price payment	(4,115)		—		(4,115)
Proceeds from issuance of debt	360,000		—		360,000
Proceeds from issuance of ordinary shares	540,597		—		540,597
Proceeds from warrant exercises	277,526		—		277,526
Proceeds from stock options exercised	1,182		—		1,182
Payments related to tax withholding for stock-based compensation	(10,420)		—		(10,420)
Net cash provided by (used in) financing activities	1,091,606		—		1,091,606
Effects of exchange rates	(2,013)		—		(2,013)
Net increase in cash and cash equivalents, and restricted cash	234,732		—		234,732
Beginning of period:
Cash and cash equivalents	76,130		—		76,130
Restricted cash	9		—		9
Total cash and cash equivalents, and restricted cash, beginning of period	76,139		—		76,139
Cash and cash equivalents, and restricted cash, end of period	310,871		—		310,871
End of period:
Cash and cash equivalents	308,021		—		308,021
Restricted cash	2,850		—		2,850
Total cash and cash equivalents, and restricted cash, end of period	$	310,871	$	—	$	310,871
Supplemental Cash Flow Information
Cash paid for interest	$	11,405	$	—	$	11,405
Cash paid for income tax	$	4,797	$	—	$	4,797
Capital expenditures included in accounts payable	$	9,528	$	—	$	9,528