Acquisitions (Tables)

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Summary of Allocation of Purchase Price for Acquisitions of Acquiree

The following summarizes the preliminary allocation of the purchase price for the 2020 acquisition of Captricity. The assets and liabilities pending finalization include the valuation of acquired tangible and intangible assets and the evaluation of taxes (in millions):

	Captricity
Accounts receivable	$	0.3
Other assets		3.1
Acquired client relationships and contracts		4.3
Completed technology		2.9
Goodwill		8.3
Accounts payable		(0.4	)
Accrued employee compensation and benefits		(0.3	)
Deferred revenue		(2.1	)
Other liabilities assumed		(0.8	)
Consideration paid, net of cash acquired	$	15.3

Schedule of Severance Expense Recognized

The amount of severance expense recognized in our Condensed Consolidated Statements of Comprehensive (Loss) Income for the three months ended March 31, 2020 and 2019 was as follows (in millions):

	Three Months Ended March 31,
Consolidated Statements of Comprehensive (Loss) Income Classification	2020		2019
Cost of software-enabled services	$	21.7	$	0.6
Cost of license, maintenance and other related		1.2		-
Total cost of revenues		22.9		0.6
Selling and marketing		1.1		2.7
Research and development		5.1		0.9
General and administrative		2.3		0.7
Total operating expenses		8.5		4.3
Total severance expense	$	31.4	$	4.9

Summary of Unaudited Pro Forma Information

The following unaudited pro forma information is provided for illustrative purposes only and assumes that the acquisition of Captricity occurred on January 1, 2019 and the acquisitions of Algorithmics and Investrack occurred on January 1, 2018, after giving effect to certain adjustments, including amortization of intangibles, interest, transaction costs and tax effects.  This unaudited pro forma information (in millions, except per share data) 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 March 31,
	2020		2019
Revenues	$	1,177.3	$	1,166.5
Net income	$	100.4	$	84.7