Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2021

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The preliminary purchase price allocation is as follows:

	Amount
Cash and cash equivalents	$	130,155
Accounts receivable	419,742
Other current assets	44,508
Fixed Assets	80,047
Right-of-use lease assets - operating leases	293,034
Intangible assets	809,900
Other assets	16,928
Accounts payable	(165,443)
Accruals and other liabilities	(308,757)
Advance billings	(211,687)
Current portion of lease liabilities	(55,878)
Current portion of deferred acquisition consideration	(53,054)
Long-term debt	(1,011,690)
Long-term portion of deferred acquisition consideration	(8,056)
Long-term portion of lease liabilities	(292,497)
Other liabilities	(131,897)
Redeemable noncontrolling interests	(30,830)
Preferred shares	(209,980)
Noncontrolling interests	(158,230)
Net liabilities assumed	(843,685)
Goodwill	1,270,081
Purchase price consideration	$	426,396

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the date of each acquisition (in thousands):

	2020
	Sloane		Kettle		Truelogic		Total
Cash, cash equivalents and restricted cash	$	—	$	49	$	90	$	139
Accounts receivable and other current assets	2,768		2,732		2,958		8,458
Other noncurrent assets	—		172		10		182
Intangible assets	5,900		1,930		9,500		17,330
Property and equipment	72		58		50		180
Right-of-use assets – operating leases	—		533		201		734
Accounts payable and other current liabilities	(469)		(552)		(1,063)		(2,084)
Advanced billings	(130)		(310)		(429)		(869)
Operating lease liabilities	—		(533)		(201)		(734)
Goodwill	16,275		1,323		6,184		23,782
Total net assets acquired	$	24,416	$	5,402	$	17,300	$	47,118

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table presents the details of identifiable intangible assets acquired.

	Estimated Fair Value		Estimated Useful Life in Years
Trade Names	$	98,000	10
Customer Relationships	711,900		6-15
Total Acquired Intangible Assets	$	809,900

The following table reports the fair value of intangible assets acquired, including the corresponding weighted average amortization periods, as of the date of each acquisition (in thousands, except years):

		2020
	Weighted Average Amortization Period	Sloane		Kettle		Truelogic		Total
Customer relationships	10 years	$	4,600	$	1,600	$	9,100	$	15,300
Tradenames and trademarks	11 years	1,300		330		400		2,030
Total		$	5,900	$	1,930	$	9,500	$	17,330

Business Acquisition, Pro Forma Information

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisitions been consummated as of that time.

	Nine Months Ended September 30, 2021		Nine Months Ended September 30, 2020
Revenue	$	1,612,399	$	1,445,813

The proforma net loss was nominal for the nine months ended September 30, 2021 and 2020.

The following table summarizes the total revenue and net income included in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) from the date of each acquisition (in thousands):

	Nine Months Ended September 30, 2020
Revenue	$	10,794
Net Income	$	1,199

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisitions been consummated as of that time (in thousands):

	Nine Months Ended September 30, 2020
Revenue	$	587,343
Net Income	$	39,801