Description of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the statement of financial position that sum to the total of the same such amounts shown in the statement of cash flows:

	For the Year Ended December 31,
	2019		2018		2017
	(In thousands)
Cash and cash equivalents	$	73,228	$	137,858	63,895
Restricted cash	35,051		8,317		4,040
Restricted cash included in other long-term assets	3,090		3,506		2,932
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	111,369	$	149,681	$	70,867

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Additional information regarding the Company's assets and liabilities that are measured at fair value on a recurring basis is presented in the following tables:

	Fair Values at Reporting Date Using*
Descriptions	Balance at December 31, 2019		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets
Commercial bank certificates of deposits ($50 thousand is recorded in the long term asset section of the consolidated balance sheets in "Other Assets")	$	4,493	$	4,493	$	—	$	—
Mutual funds	1,058		1,058		—		—
Total assets measured at fair value	$	5,551	$	5,551	$	—	$	—
Liabilities
Contingent earn-out acquisition consideration (a)	10,095		—		—		10,095
Total liabilities measured at fair value	$	10,095	$	—	$	—	$	10,095
(a) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected cash flows, rate of return, and probability assessments.
* During the year ended December 31, 2019 there were no transfers between fair value Levels 1, 2 or 3.

	Fair Values at Reporting Date Using*
Descriptions	Balance at December 31, 2018		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets
Commercial bank certificates of deposits ($681 thousand is recorded in the long term asset section of the consolidated balance sheets in "Other Assets")	$	26,714	26,714		—		—
Mutual Funds	5,159		5,159		—		—
Total assets measured at fair value	$	31,873	$	31,873	$	—	$	—
Liabilities
Contingent earn-out acquisition consideration (a)	24,976		—		—		24,976
Total liabilities measured at fair value	$	24,976	$	—	$	—	$	24,976
(a) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected cash flows, rate of return, and probability assessments.
* During the year ended December 31, 2018, there were no transfers between fair value Levels 1, 2 or 3.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

For the Company's assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the following table provides a reconciliation of the beginning and ending balances for each category therein, and gains or losses recognized during the year:

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Contingent Liability for Accrued Earn-out Acquisition Consideration	Balance at December 31, 2019			Balance at December 31, 2018
	(In thousands)
Beginning balance	$	24,976		37,096
Total remeasurement adjustments:
(Gains) or losses included in earnings **	(16,543		)	(1,391		)
Reductions recorded against goodwill	—			(13,718		)
Foreign currency translation adjustments ***	(260		)	(1,620		)
Acquisitions and settlements
Business acquisitions	1,922			8,440
Settlements	—			(3,831		)
Ending balance	$	10,095		$	24,976
The amount of total (gains) or losses for the year included in earnings or changes to net assets, attributable to changes in unrealized (gains) or losses relating to assets or liabilities still held at year-end.	$	(16,543	)	$	(1,391	)
** recorded as a component of general and administrative expenses
*** recorded as a component of other comprehensive income within stockholders' equity

Fair Value, Significant Unobservable Inputs Used in Measurement of Contingent Consideration Liabilities

The significant unobservable inputs used in the fair value measurement of the Company's contingent consideration liabilities designated as Level 3 are as follows:

(In thousands)	Fair Value at  December 31, 2019	Valuation Technique	Significant Unobservable Input
Contingent acquisition consideration: (Wdev, Miles, Zillious, and Essel  acquisitions)	$10,095	Discounted cash flow	Expected future annual revenue streams and probability of achievement

(In thousands)	Fair Value at  December 31, 2018	Valuation Technique	Significant Unobservable Input
Contingent acquisition consideration: (Wdev, ItzCash, Indus and Miles acquisitions)	$24,976	Discounted cash flow	Expected future annual revenue streams and probability of achievement

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

Disaggregation of Revenue

The following tables present revenue disaggregated by primary geographical regions and product channels for the years ended December 31, 2019 , 2018 and 2017:

	Year Ended December 31,
	2019		2018		2017
	(In thousands)
United States	$	182,530	$	196,984	$	211,895
Canada	4,805		5,611		7,522
Latin America	19,755		19,866		21,128
Australia	33,268		35,770		34,366
Singapore*	6,549		7,674		6,330
New Zealand	1,955		2,015		1,933
India*	300,678		196,372		61,857
Europe	14,695		15,387		17,062
Indonesia*	9,706		7,482		1,055
Philippines*	5,991		6,483		623
United Arab Emirates*	683		1,042		200
Mauritius*	—		3,140		—
	$	580,615	$	497,826	$	363,971
*Primarily India led businesses for which total revenue was $320.0 million, $217.5 million and $64.3 million for the years ended December 31, 2019, 2018, and 2017, respectively.

Disaggregation of Revenue

isaggregation of Revenue

The following tables present revenue disaggregated by primary geographical regions and product channels for the years ended December 31, 2019 , 2018 and 2017:

	Year Ended December 31,
	2019		2018		2017
	(In thousands)
United States	$	182,530	$	196,984	$	211,895
Canada	4,805		5,611		7,522
Latin America	19,755		19,866		21,128
Australia	33,268		35,770		34,366
Singapore*	6,549		7,674		6,330
New Zealand	1,955		2,015		1,933
India*	300,678		196,372		61,857
Europe	14,695		15,387		17,062
Indonesia*	9,706		7,482		1,055
Philippines*	5,991		6,483		623
United Arab Emirates*	683		1,042		200
Mauritius*	—		3,140		—
	$	580,615	$	497,826	$	363,971
*Primarily India led businesses for which total revenue was $320.0 million, $217.5 million and $64.3 million for the years ended December 31, 2019, 2018, and 2017, respectively.

The Company’s revenues are derived from three product/service groups. Presented in the table below is the breakout of our revenue streams for each of those product/service groups for the years ended December 31, 2019, 2018, and 2017.

	For the Year Ended
	December 31,
(In thousands)		2019		2018		2017
EbixCash Exchanges		$	319,953	$	217,457	$	64,324
Insurance Exchanges		190,067		192,604		200,508
Risk Compliance Solutions		70,595		87,765		99,139
Totals		$	580,615	$	497,826	$	363,971

Contract with Customer, Asset and Liability

(In thousands)	December 31, 2019			December 31, 2018
Balance, beginning of period	$	2,238		$	2,401
Costs recognized from beginning balance	(708		)	(898		)
Additions, net of costs recognized	367			735
Balance, end of period	$	1,897		$	2,238

(In thousands)	December 31, 2019			December 31, 2018
Balance, beginning of period	$	44,660		$	38,030
Revenue recognized from beginning balance	(31,507		)	(21,697		)
Additions from business acquisitions	769			16,273
Additions, net of revenue recognized and currency translation	23,331			12,054
Balance, end of period	$	37,253		$	44,660

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table presents our estimated revenue allocated to remaining performance obligations for contracted revenue that has not yet been recognized, representing our “contractually committed” revenue as of December 31, 2019 that we will transfer from contract liabilies and recognize in future periods:

Estimated Revenue (In thousands):
For the year ending December 31, 2020	$	4,758
For the year ending December 31, 2021	3,448
For the year ending December 31, 2022	2,132
For the year ending December 31, 2023	1,555
For the year ending December 31, 2024	454
	$	12,347

Settlement And Assets And Obligations

.

Business Combination, Segment Allocation

The following table summarizes the recognized intangible assets, goodwill and earn-out provisions, as a result of the cumulative valuation and purchase price allocations on effective date of acquisition, for the 2019 and 2018 acquisitions:

Company acquired	Date acquired	Goodwill		Intangibles Assets		Contingent Earn-Out Provision
		(In thousands)
Transcorp	Feb-18	$	7,254	$	—	$	—
Centrum	Apr-18	159,647		5,742		—
SmartClass	Apr-18	16,568		4,243		—
Indus	Jul-18	21,501		2,146		3,310
Leisure	Jul-18	1,699		202		—
Mercury	Jul-18	15,127		1,051		—
Miles	Aug-18	19,075		5,048		5,271
AHA Taxis	Oct-18	592		—		—
Business Travels	Oct-18	1,102		—		—
Routier	Oct-18	698		—		—
Lawson	Dec-18	4,437		—		—
Pearl	Dec-18	3,372		—		—
Weizmann	Dec-18	71,552		2,005		—
Total for 2018 acquisitions		$	322,624	$	20,437	$	8,581
Essel Forex	Jan-19	8,372		1,163		407
Zillious	Jan-19	9,489		1,875		1,515
Wallstreet Canada*	Aug-19	71		—		—
Total for 2019 acquisitions		$	17,932	$	3,038	$	1,922
*The valuation and purchase price allocation remains preliminary and will be finalized as soon as practicable but in no event longer than one year from the effective date of this transaction.

Schedule of Goodwill

hanges in the carrying amount of goodwill for the years ended December 31, 2019 and 2018 are as follows:

	December 31, 2019			December 31, 2018
	(In thousands)
Beginning Balance	$	946,685		$	666,863
Additions for current year acquisitions	17,931			317,410
Adjustments for final purchase accounting	741			(11,080		)
Foreign currency translation adjustments	(12,953		)	(26,508		)
Ending Balance	$	952,404		$	946,685

Schedule of Finite-Lived Intangible Assets by Major Class, Estimated Useful Lives

e amortize these intangible assets on a straight-line basis over their estimated useful lives, as follows:

	Life
Category	(years)
Customer relationships	7-20
Developed technology	3-12
Airport contract	9
Store networks	5
Dealer networks	15-20
Brand	15
Trademarks	3-15
Non-compete agreements	5
Database	10

Schedule of Intangible Assets, Excluding Goodwill

ntangible assets as of December 31, 2019 and December 31, 2018, are as follows:

	December 31,
	2019			2018
	(In thousands)
Finite-lived intangible assets:
Customer relationships	$	83,012		$	80,070
Developed technology	19,979			19,176
Dealer networks	6,726			6,315
Airport Contract	4,635			4,752
Store Networks	2,500			821
Trademarks	2,689			2,677
Brand	918			864
Non-compete agreements	764			764
Backlog	140			140
Database	212			212
Total intangibles	121,575			115,791
Accumulated amortization	(74,620		)	(64,343		)
Finite-lived intangibles, net	$	46,955		$	51,448
Indefinite-lived intangibles:
Customer/territorial relationships	$	42,055		$	42,055

Useful Lives of Property and Equipment Used in Computation of Depreciation

he estimated useful lives applied by the Company for property and equipment are as follows:

	Life
Asset Category	(years)
Buildings	39
Building Improvements	15
Computer equipment	5
Furniture, fixtures and other	7
Software	3
Land Improvements	20
Land	Unlimited life
Leasehold improvements	Shorter of asset life or life of the lease