From time to time, we acquire and invest in companies throughout the world, including franchises. For the six months ended June 30, 2022 and 2021, the total cash consideration paid for acquisitions, net of cash acquired, was $1.4 and $13.3, respectively. The 2022 payment represents a contingent consideration payment related to a previous acquisition. The 2021 payments represent consideration payments for franchises in the United States and contingent consideration payments related to previous acquisitions.

Occasionally, we dispose of parts of our operations based on risk considerations and to optimize our global strategic and geographic footprint and overall efficiency. On January 17, 2022, we disposed of our Russia business in our Northern Europe segment for cash proceeds of $3.2 and simultaneously entered into a franchise agreement with the new owner of the Russia business. In connection with the disposition, we recognized a one-time net loss on disposition of $8.0.

On October 1, 2021, we acquired ettain group, one of the largest privately held IT resourcing and services providers in North America. Effective that date, ettain group became part of our Experis business in the Americas segment. The acquisition is intended to accelerate our strategy of diversifying our business mix into higher growth and higher value services. The aggregate cash consideration paid was $930.9. Of the total consideration paid, $925.0 was for the acquired interests and the remaining $5.9 was for excess working capital and cash. The transaction was funded through cash on hand and a $150.0 draw on our revolving credit facility on October 1, 2021. During the three months ended June 30, 2022, we recognized post-closing working capital adjustments of $4.6 with a corresponding offset to goodwill. We expect to finalize the accounting for income tax related items and working capital adjustments during the third quarter of 2022.

The acquisition was accounted for as a business combination, and the assets and liabilities were included in the Consolidated Balance Sheets as of the acquisition date and the results of its operations have been included in the Consolidated Statements of Operations subsequent to the acquisition date.

The following table summarizes the updated fair value of the assets and liabilities as of the acquisition date of October 1, 2021.


Cash and cash equivalents	$	14.6
Accounts receivable		132.4
Prepaid expenses and other assets		2.4
Operating lease right-of-use asset		8.7
Goodwill		515.0
Intangible assets subject to amortization, customer relationship		360.0
Accounts payable		(21.4	)
Employee compensation payable		(15.0	)
Accrued liabilities		(29.7	)
Accrued payroll taxes and insurance		(6.9	)
Value added taxes payable		(5.5	)
Long-term operating lease liability		(5.3	)
Other long-term liabilities		(18.4	)
Total assets and liabilities	$	930.9

The customer relationship intangible asset will be amortized over a 15 year useful life. The customer relationship intangible asset and goodwill from the acquisition are partially deductible for income tax purposes. As of December 31, 2021 and June 30, 2022, the carrying value of intangible assets were $354.0 and $342.0, respectively, and the carrying value of goodwill was $519.6 and $515.0, respectively. The goodwill is included within the United States reporting unit and is attributable to the workforce of the acquired business and expected synergies to occur post-acquisition as a result of diversifying the business into higher growth and higher value services.