Acquisitions (Tables)

9 Months Ended

Sep. 30, 2015

Summary of Fair Value of Consideration Transferred

The acquisition date fair value of the consideration transferred for Studer Group was approximately $325.2 million, which consisted of the following:



Fair value of consideration transferred
Cash	$	323,237
Common stock	2,204
Net working capital adjustment	(255		)
Total consideration transferred	$	325,186

Preliminary Allocation of the Purchase Price to the Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary allocation of the purchase price to the fair value of assets acquired and liabilities assumed as of the acquisition date.



	Amount
Assets acquired:
Accounts receivable	$	14,906
Prepaid expenses and other current assets	1,385
Deferred income tax asset	4,335
Property and equipment	4,509
Intangible assets	97,500
Liabilities assumed:
Accounts payable	760
Accrued expenses and other current liabilities	2,868
Accrued payroll and related benefits	1,574
Deferred revenues	2,449
Deferred income tax liability	21,263
Other non-current liabilities	1,211
Total identifiable net assets	92,510
Goodwill	232,676
Total purchase price	$	325,186

Schedule of Components of Identifiable Intangible Assets Acquired and their Estimated Useful Lives

The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the acquisition date.



	Fair Value		Useful Life in Years
Customer relationships	$	42,400	9
Customer contracts	25,100		4
Trade name	22,800		5
Technology and software	3,900		3
Publishing content	3,300		3
Total intangible assets subject to amortization	$	97,500

Summary of Supplemental Pro Forma Consolidated Results of Operations

The following supplemental pro forma information summarizes the combined results of operations for Huron and Studer Group as though the companies were combined on January 1, 2014.



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Revenues	$	209,881	$	218,409	$	632,200	$	674,118
Net income	$	19,606	$	10,173	$	41,016	$	60,988
Net income per share - basic	$	0.89	$	0.45	$	1.85	$	2.70
Net income per share - diluted	$	0.87	$	0.44	$	1.81	$	2.64