Acquisitions (Tables)

3 Months Ended

Mar. 31, 2020

Estimated fair values of assets acquired and liabilities assumed

The following table summarizes the estimated fair values of assets acquired and liabilities assumed at the date of the acquisition:



(Amounts in thousands)
Assets
Cash and cash equivalents	$	27,420
Receivables from brokers, dealers and clearing organizations	192,675
Fixed assets	6,789
Goodwill	94,159
Intangible assets	157,600
Investments	685
Right-of-use lease asset	39,607
Other assets	10,029
Total assets acquired	528,964

Liabilities
Accrued compensation	71,398
Accrued lease liability	39,613
Other liabilities and accrued expenses	16,441
Due to Sandler O'Neill (1)	40,673
Total liabilities assumed	168,125

Net assets acquired	$	360,839

(1)

Represents the amount of excess tangible book value received by the Company on the date of acquisition.

The following table summarizes the estimated fair values of assets acquired and liabilities assumed at the date of the acquisition, including measurement period adjustments:



(Amounts in thousands)
Assets
Cash and cash equivalents	$	4,351
Receivables from brokers, dealers and clearing organizations	1,623
Fixed assets	289
Goodwill	5,794
Intangible assets	16,700
Right-of-use lease asset	6,811
Other assets	10,888
Total assets acquired	46,456

Liabilities
Accrued compensation	2,156
Accrued lease liability	6,811
Other liabilities and accrued expenses	13,464
Total liabilities assumed	22,431

Net assets acquired	$	24,025

Unaudited pro forma information



	Three Months Ended
(Amounts in thousands)	March 31, 2019
Net revenues	$	291,254
Net income from continuing operations applicable to Piper Sandler Companies	11,482