Condensed Consolidated Financial Statement Details

6 Months Ended

Jun. 30, 2022

Condensed Consolidated Financial Statement Details

Condensed Consolidated Financial Statement Details

(2)Condensed Consolidated Financial Statement Details

Cash and Cash Equivalents

Cash and cash equivalents are unrestricted and include the following (in millions):

	June 30, 2022		December 31, 2021
Cash	$	28.0	$	24.0
Cash equivalents		10.0		53.1
Cash and cash equivalents	$	38.0	$	77.1

Trade Receivables, Net

A summary of Trade receivables, net of allowance for credit losses is as follows (in millions):

	June 30, 2022		December 31, 2021
Trade receivables — billed	$	159.9	$	147.4
Trade receivables — unbilled		47.1		47.1
Trade receivables		207.0		194.5
Allowance for credit losses		(3.8)		(2.7)
Trade receivables, net	$	203.2	$	191.8

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in millions):

	June 30, 2022		December 31, 2021
Prepaid expenses	$	51.2	$	44.7
Contract assets, net		25.5		23.0
Income tax receivables		11.7		6.5
Other current assets		9.3		8.8
Prepaid expenses and other current assets	$	97.7	$	83.0

Other Non-Current Assets

Other non-current assets consist of the following (in millions):

	June 30, 2022		December 31, 2021
Contract assets, net	$	98.0	$	80.2
Property records database		60.6		60.6
Right-of-use assets		29.0		32.9
Deferred compensation plan related assets		22.7		25.2
Contract credits		22.9		23.6
Prepaid expenses		5.8		4.5
Other		2.2		3.3
Other non-current assets	$	241.2	$	230.3

Trade Accounts Payable and Other Accrued Liabilities

Trade accounts payable and other accrued liabilities consist of the following (in millions):

	June 30, 2022		December 31, 2021
Accrued interest	$	12.3	$	12.3
Lease liabilities, current		10.4		10.8
Trade accounts payable		10.6		7.9
Other taxes payable and accrued		6.1		4.8
Accrued client liabilities		3.8		3.8
Other		16.6		24.9
Trade accounts payable and accrued liabilities	$	59.8	$	64.5

Deferred Revenues

Revenues recognized related to the amount included in the Deferred revenues balance at the beginning of each year were $20.6 million and $12.1 million during the three months ended June 30, 2022 and 2021, respectively, and $41.5 million and $29.8 million during the six months ended June 30, 2022 and 2021, respectively.

Depreciation and Amortization

Depreciation and amortization includes the following (in millions):

	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Other intangible assets	$	36.8	$	39.1	$	73.6	$	77.9
Software		35.6		32.7		71.1		63.3
Property and equipment		9.7		10.0		19.6		20.2
Deferred contract costs		10.4		8.6		19.7		16.8
Total	$	92.5	$	90.4	$	184.0	$	178.2

Other Non-Current Liabilities

Other non-current liabilities consist of the following (in millions):

	June 30, 2022		December 31, 2021
Lease liabilities, non-current	$	21.4	$	26.4
Deferred compensation plan		21.5		24.4
Unrealized losses on interest rate swaps (Note 7)		—		13.9
Other		13.7		14.0
Other non-current liabilities	$	56.6	$	78.7

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