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Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2022
Business Combinations [Abstract]  
Summary of Allocation of Purchase Price for Acquisitions of Acquiree The fair values of the acquired intangible assets, and the related evaluation of taxes, are provisional pending receipt of the final valuation for those assets. The valuation of the acquired liabilities is also preliminary.

 

 

Blue Prism

 

 

Hubwise

 

 

Accounts receivable

 

$

50.1

 

 

$

0.7

 

 

Property, plant and equipment

 

 

1.9

 

 

 

0.1

 

 

Other assets

 

 

10.4

 

 

 

0.3

 

 

Operating lease right-of-use assets

 

 

4.4

 

 

 

0.3

 

 

Customer relationships

 

 

520.0

 

 

 

23.0

 

 

Completed technologies

 

 

250.0

 

 

 

8.7

 

 

Trade names

 

 

38.0

 

 

 

1.0

 

 

Goodwill

 

 

945.3

 

 

 

50.5

 

 

Accounts payable

 

 

(6.6

)

 

 

(0.2

)

 

Accrued employee compensation and benefits

 

 

(23.2

)

 

 

—

 

 

Deferred revenue

 

 

(166.9

)

 

 

—

 

 

Deferred income taxes

 

 

(110.7

)

 

 

(8.2

)

 

Other liabilities assumed

 

 

(35.2

)

 

 

(0.7

)

 

Consideration paid, net of cash acquired

 

$

1,477.5

 

 

$

75.5

 

 
Schedule of Severance Expense Recognized The amount of severance expense recognized in our Condensed Consolidated Statements of Comprehensive Income for the six months ended June 30, 2022 and 2021 was as follows (in millions):

 

 

Six Months Ended June 30,

 

Consolidated Statements of Comprehensive Income Classification

 

2022

 

 

2021

 

Cost of software-enabled services

 

$

3.8

 

 

$

14.1

 

Cost of license, maintenance and other related

 

 

0.7

 

 

 

1.2

 

Total cost of revenues

 

 

4.5

 

 

 

15.3

 

Selling and marketing

 

 

1.2

 

 

 

1.2

 

Research and development

 

 

0.8

 

 

 

5.8

 

General and administrative

 

 

-

 

 

 

0.6

 

Total operating expenses

 

 

2.0

 

 

 

7.6

 

Total severance expense

 

$

6.5

 

 

$

22.9

 
Summary of Unaudited Pro Forma Information This unaudited pro forma information (in millions) should not be relied upon as being indicative of the historical results that would have been obtained if the acquisitions had actually occurred on those dates, nor of the results that may be obtained in the future.

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Revenues

 

$

1,329.2

 

 

$

1,320.0

 

 

$

2,681.4

 

 

$

2,618.1

 

Net income

 

$

110.7

 

 

$

165.3

 

 

$

267.3

 

 

$

283.7