Business Acquisition (Tables)

9 Months Ended

Sep. 30, 2020

Business Acquisition [Line Items]

Unaudited Pro Forma Results

Pursuant to ASC 805, unaudited pro forma results of operations for the three and nine months ended September 30, 2020 and 2019, assuming the acquisition had occurred as of January 1, 2019, are presented below (in millions, except per share amounts):

	Three months ended September 30,				Nine months ended September 30,
	2020		2019		2020		2019
Revenue	$	337.7	$	322.1	$	977.9	$	942.8
Net earnings	$	106.9	$	11.0	$	155.4	$	16.7

Collateral Analytics and DocVerify

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

Total consideration, net of cash acquired, was $73.5 million in the aggregate for Collateral Analytics and DocVerify. The total consideration was as follows (in millions):

Cash paid	$	74.1
Contingent consideration	3.1
Less: cash acquired	(3.7)
Total consideration, net	$	73.5

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the total purchase price consideration and the fair value amounts recognized for the assets acquired and liabilities assumed (in millions):

Total consideration, net	$	73.5
Computer software	$	8.2
Other intangible assets	18.1
Goodwill	46.9
Other current and non-current assets	4.1
Total assets acquired	77.3
Total liabilities assumed	3.8
Net assets acquired	$	73.5

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

As of the acquisition dates, the preliminary gross carrying value and weighted average estimated useful lives of Computer software and Other intangible assets acquired consisted of the following (dollars in millions):

	Gross carrying value		Weighted average estimated life (in years)
Computer software	$	8.2	5
Other intangible assets:
Client relationships	16.4		10
Trade names	1.1		3
Non-compete agreements	0.6		4
Other intangible assets	18.1
Total gross carrying value	$	26.3

Optimal Blue Holdco, LLC

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

Total consideration, net of cash acquired was approximately $1.8 billion for 100% of the equity interests in Optimal Blue and certain affiliates. The total consideration was as follows (in millions):

Cash paid	$	1,828.1
Less: cash acquired	(29.3)
Total consideration, net	$	1,798.8

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the total purchase price consideration and the preliminary fair value amounts recognized for the assets acquired and liabilities assumed (in millions):

Total consideration, net	$	1,798.8
Trade receivables	$	11.3
Computer software	79.8
Other intangible assets	610.0
Goodwill (Note 8)	1,210.2
Other current and non-current assets	13.7
Total assets acquired	1,925.0
Deferred income taxes	106.5
Current and other non-current liabilities	19.7
Total liabilities assumed	126.2
Net assets acquired	$	1,798.8

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

As of the acquisition date, the preliminary gross carrying value and weighted average estimated useful lives of Computer software and Other intangible assets acquired consisted of the following (dollars in millions):

	Gross carrying value		Weighted average estimated life (in years)
Computer software	$	79.8	5
Other intangible assets:
Client relationships	601.7		10
Trade names	5.2		3
Non-compete agreements	3.1		5
Other intangible assets	610.0
Total gross carrying value	$	689.8