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Description of Business and Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2022
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 condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows:
As of
March 31,
2022
2021
(In thousands)
Cash and cash equivalents$75,943 $99,578 
Restricted cash10,100 8,114 
Restricted cash included in other long-term assets6,342 7,435 
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows$92,385 $115,127 
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*
DescriptionsBalance, March 31, 2022Quoted 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 ($6.5 million is recorded in the long
term asset section of the condensed consolidated balance sheets in "Other assets")
$22,551 $— $22,551 $— 
Mutual funds (recorded in
the long term asset section of the condensed consolidated balance sheets in "Other assets")
102 102 — — 
Total assets measured at fair value$22,653 $102 $22,551 $— 
Liabilities
Contingent accrued earn-out acquisition consideration (a)$2,516 $— $— $2,516 
Total liabilities measured at fair value$2,516 $— $— $2,516 
(a) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected revenues and cash flows, rate of return, and probability assessments.
* During the three months ended March 31, 2022, there were no transfers between fair value Levels 1, 2, or 3.
Fair Values at Reporting Date Using*
DescriptionsBalance, December 31, 2021Quoted 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 ($6.3 million is recorded in the long term asset section of the condensed consolidated balance sheets in "Other assets")
$31,676 $— $31,676 $— 
Mutual funds167 167 — — 
Total assets measured at fair value$31,843 $167 $31,676 $— 
Liabilities
Contingent accrued earn-out acquisition consideration (a)$2,557 $— $— $2,557 
Total liabilities measured at fair value$2,557 $— $— $2,557 
(a) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected revenues and cash flows, rate of return, and probability assessments.
* During the year ended December 31, 2021, 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 three months ended March 31, 2022 and during the year ended December 31, 2021:
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Contingent Liability for Accrued Earn-out Acquisition ConsiderationMarch 31, 2022December 31, 2021
(In thousands)
Beginning balance$2,557 $— 
Total remeasurement adjustments:
       Remeasurement against goodwill— 2,560 
       Foreign currency translation adjustments **(41)(3)
Acquisitions and settlements
       Business settlements— — 
Ending balance$2,516 $2,557 
The amount of total (gains) losses for the period included in earnings or changes to net assets, attributable to changes in unrealized gains relating to assets or liabilities still held at period-end.$— $— 
** 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 March 31, 2022
 
Valuation Technique
 Significant
Unobservable
Input
Contingent acquisition consideration: $2,516Discounted cash flowProjected revenue and
probability of achievement
        
(In thousands) Fair Value at December 31, 2021 
Valuation Technique
 Significant
Unobservable
Input
Contingent acquisition consideration: 
$2,557
Discounted cash flowProjected revenue and
probability of achievement
Schedule of Disaggregation of Revenue
Disaggregation of Revenue
    The following tables present revenue disaggregated by primary geographical regions and product/service channels for the three months ended March 31, 2022 and 2021:
Three Months Ended March 31,
Revenue:20222021
(In thousands)
India*$225,889 $231,541 
United States38,853 38,066 
Australia9,042 9,684 
Europe4,205 4,104 
Latin America3,926 3,098 
Canada*1,173 1,150 
Singapore*938 1,069 
Indonesia*749 405 
Philippines*684 444 
New Zealand453 492 
United Arab Emirates*341 — 
$286,253 $290,053 
*Includes India led businesses for which total revenue was $227.9 million for the three months ended March 31, 2022, and $232.6 million for the three months ended March 31, 2021.
Schedule of Revenue by Product/Service Groups Presented in the table below is the breakout of our revenue groups for each of those product/service channels for the three months ended March 31, 2022 and 2021.
Three Months Ended
March 31,
20222021
(In thousands)
EbixCash Exchanges224,152 230,347 
Insurance Exchanges43,764 42,770 
Risk Compliance Solutions18,337 16,936 
Totals$286,253 $290,053 
Contract with Customer, Asset and Liability
March 31, 2022December 31, 2021
(Unaudited)
(In thousands)
Balance, beginning of period$1,822 $1,630 
Costs recognized from the beginning balance(618)(534)
Additions, net of costs recognized104 726 
Balance, end of period$1,308 $1,822 
This portion is recognized over the expected useful life of the customizations.
March 31, 2022December 31, 2021
(Unaudited)
(In thousands)
Balance, beginning of period$41,357 $40,930 
Revenue recognized from beginning balance(16,660)(30,922)
Additions, net of revenue recognized and currency translation24,893 31,349 
Balance, end of period$49,590 $41,357 
Schedule of Finite-Lived Intangible Assets by Major Class, Estimated Useful Lives We amortize these intangible assets on a straight-line basis over their estimated useful lives, as follows:
Category Life (yrs)
Airport contracts
9
Backlog
1 - 1.5
Brand
3 - 15
Customer relationships 
4 - 20
Database
10
Dealer networks
15 - 20
Developed technology 
3 - 15
Non-compete agreements 
5 - 7
Store networks
5
Trademarks 
3 - 15