Business Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

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 Net Assets Acquired in Business Acquisitions

The following table summarizes the fair value of the consideration transferred, net assets acquired and liabilities assumed, as a result of the acquisitions, that were recorded during 2019 and 2018:



	December 31,
(In thousands)	2019			2018
Fair value of total consideration transferred
Cash	$	105,391		$	250,769
Consideration payable upon certain conditions being met	—			72,933
Contingent earn-out consideration arrangement (net)	1,922			(5,137		)
Total consideration transferred	107,313			318,565

Fair value of equity components recorded (not part of consideration)
Recognition of noncontrolling interest of joint ventures	(10,258		)	23,500
Total equity components recorded	(10,258		)	23,500

Total consideration transferred and equity components recorded	$	97,055		$	342,065

Fair value of assets acquired and liabilities assumed
Cash, net of adjustment	$	(75	)	$	18,212
Other current assets	5,175			68,317
Property, plant, and equipment	231			2,176
Other long term assets	3,023			14,574
Intangible assets, definite lived	6,296			14,577
Capitalized software development costs	—			46
Deferred tax liability	12			854
Current and other liabilities, net of consideration transferred	63,721			(83,021		)
Net assets acquired, excludes goodwill	78,383			35,735

Goodwill	18,672			306,330

Total net assets acquired	$	97,055		$	342,065

Schedule of Identified Intangible Assets Acquired as Part of Business Acquisitions

The following table summarizes the separately identified intangible assets acquired as a result of the acquisitions that occurred during 2019 and 2018:



	December 31,
	2019			2018
			Weighted Average				Weighted Average
Intangible asset category	Fair Value		Useful Life	Fair Value			Useful Life
	(In thousands)		(In years)	(In thousands)			(In years)
Customer relationships	$	3,042	7.5	$	7,342		11.7
Developed technology	851		7.0	3,726			5.0
Agent network	582		10.2	—			0.0
Airport contracts	—		0.0	4,896			9.0
Store networks	—		0.0	846			9.0
Brand	78		5.0	369			4.0
Branch network	1,743		10.0	—			0.0
Purchase accounting adjustments for prior year acquisitions	—		0.0	(2,602		)	0.0
Total acquired intangible assets	$	6,296	8.0	$	14,577		9.2

Schedule of Intangible Assets, Future Amortization Expense

Estimated aggregate future amortization expense for the intangible assets recorded as part of the business acquisitions described above and all other prior acquisitions is as follows:



Future Amortization Expenses (In thousands):
For the year ending December 31, 2020	$	9,380
For the year ending December 31, 2021	8,558
For the year ending December 31, 2022	8,107
For the year ending December 31, 2023	6,116
For the year ending December 31, 2024	4,355
Thereafter	10,439

	$	46,955