Business Combinations (Tables)

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Summary of Aggregated Consideration and Purchase Price Allocation

The following table summarizes the consideration and purchase price allocation for the acquisitions completed during the nine months ended September 30, 2023 and 2022, respectively (in thousands):

	2023		2022
Common stock issued (number)	102		42
Common stock value	$	4,796	$	1,668
Cash paid	53,027		79,141
Recorded contingent consideration	32,142		74,199
Total recorded purchase price	$	89,965	$	155,008
Accounts receivable acquired	8,539		20,429
Fixed assets acquired	1,108		1,933
Identifiable intangible assets acquired	35,267		53,400
Operating lease right-of-use asset acquired	14,972		49,291
Other assets acquired	1,163		1,693
Operating lease liability acquired - current	(1,080)		(5,860)
Other current liabilities acquired	(1,366)		(1,594)
Operating lease liability acquired - non-current	(13,892)		(43,431)
Goodwill	45,254		79,147
Total net assets acquired	$	89,965	$	155,008
Maximum potential contingent consideration	$	33,845	$	77,075

Summary of Segment Allocation

The following table summarizes the goodwill and intangible asset amounts resulting from those acquisitions for the nine months ended September 30, 2023 and 2022, respectively (in thousands):

	Nine Months Ended September 30,
	2023				2022
	Financial Services		Benefits and Insurance Services		Financial Services		Benefits and Insurance Services
Goodwill	$	41,322	$	3,932	$	79,147	$	—
Client list	33,196		2,053		53,400		—
Other intangibles	18		—		—		—
Total	$	74,536	$	5,985	$	132,547	$	—

Summary of Contingent Consideration

The following table summarizes the changes in contingent purchase price consideration for previous acquisitions and contingent payments made for previous business acquisitions in the three and nine months ended September 30, 2023 and 2022, respectively (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net expense	$	626	$	440	$	2,071	$	1,917
Cash settlement paid	$	10,103	$	4,167	$	39,910	$	12,289
Shares issued (number)	54		26		129		45