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Acquisition (Tables)
6 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Initial Purchase Price
The initial purchase price is as follows (in millions):
Cash paid for 70% majority interest of Roar shares
$269 
Less: Cash acquired net of noncontrolling interests
Net cash paid for 70% majority interest of Roar
268 
Initial fair value of contingent consideration48 
Total net initial consideration$316 
Schedule of Fair Value Amounts Expected to be Recognized for Assets Acquired and Liabilities Assumed
The following table summarizes the fair value amounts recognized for the assets acquired and liabilities assumed as of the acquisition date (dollars in millions):
 Fair Value as of
January 2, 2024
Goodwill$268 
Prepaid expenses and other assets
Other intangible assets183 
Total assets acquired454 
 
Accounts payable and accrued liabilities
Total liabilities assumed
Noncontrolling interests (fair value determined using income approach)136 
Total liabilities assumed and non-controlling interests 138 
  
Net assets acquired$316 
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination
The gross carrying value and weighted average estimated useful lives of Other intangible assets acquired in the Roar acquisition consist of the following (dollars in millions):
Gross Carrying ValueEstimated Useful Life
(in years)
Other intangible assets:
Customer relationships$179 12
Definite lived trademarks, tradenames, and other10
Total Other intangible assets$183 
Business Acquisition, Pro Forma Information Unaudited pro-forma results presented assume the acquisition of Roar occurred as of January 1, 2023 and are not intended to represent or be indicative of actual or future results of operations.
 Three months ended June 30,Six months ended June 30,
20232023
Total revenues$1,184 $2,065 
Net earnings (loss) attributable to F&G shareholders117 (85)