XML 62 R45.htm IDEA: XBRL DOCUMENT v3.24.0.1
Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Summary of Aggregated Consideration and Preliminary Purchase Price Allocation
The following table summarizes the aggregated consideration and purchase price allocation for the acquisitions completed during the year ended December 31, 2023 and 2022, respectively (in thousands):
20232022
Common stock issued (number)102 42 
Common stock value$4,796 $1,668 
Cash paid53,027 79,141 
Recorded contingent consideration32,142 74,199 
Total recorded purchase price$89,965 $155,008 
Accounts receivable acquired, net$8,544 $20,429 
Fixed assets acquired1,108 1,933 
Identifiable intangible assets acquired35,267 53,400 
Operating lease right-of-use asset acquired14,972 49,291 
Other assets acquired1,163 1,693 
Operating lease liability acquired - current(1,080)(5,860)
Other current liabilities acquired(1,371)(1,594)
Operating lease liability acquired - noncurrent(13,892)(43,431)
Goodwill45,254 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 aggregated goodwill and intangible asset amounts resulting from those acquisitions for the twelve months ended December 31, 2023 and 2022, respectively (in thousands):
Twelve Months Ended December 31,
20232022
Financial ServicesBenefits & InsuranceFinancial ServicesBenefits & Insurance
Goodwill$41,322 $3,932 $79,147 $— 
Client list33,196 2,053 53,400 — 
Other intangibles18 — — — 
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 during the year ended December 31, 2023 and 2022, respectively (in thousands):
20232022
Net expense 2,743 2,435 
Cash settlement paid45,010 21,113 
Shares issued (number)140 65