Discontinued Operations, Deconsolidation of European Joint Venture, Divestitures and Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

Business Acquisition [Line Items]

Schedule of Discontinued Operations

The following table presents the summarized balance sheet of discontinued operations. As of December 31, 2024, all businesses that were previously classified as discontinued operations had been fully divested.

(in thousands)	December 31, 2023
Carrying amounts of major classes of assets
Cash and cash equivalents	$	5,641
Accounts receivable, net of allowance for expected credit losses of $2,834		56,848
Prepaid and other current assets		6,839
Property and equipment, net		10,245
Goodwill		160,400
Other intangible assets, net		41,025
Investments in unconsolidated affiliates		564
Other assets		4,040
Total assets of discontinued operations (1)	$	285,602
Carrying amounts of major classes of liabilities
Current portion of long-term debt	$	306
Accounts payable		9,737
Accrued compensation and benefits		5,729
Other accrued expenses		3,210
Deferred revenues		3,137
Long-term debt, net of current portion		4,666
Other liabilities		3,024
Total liabilities of discontinued operations (1)	$	29,809
Total net assets of the disposal group classified as discontinued operations	$	255,793

(1) Certain assets and liabilities from discontinued operations are classified as noncurrent at December 31, 2023 as they did not previously meet the held-for-sale criteria at that date.

The following table presents the summarized statements of operations of discontinued operations.

	Year Ended December 31,
(in thousands)	2024			2023		2022
Revenues	$	80,017		$	324,720	$	403,400
Cost of revenues (exclusive of depreciation and amortization shown separately below)		59,605			245,420		319,691
Selling, general, and administrative expenses		15,816			14,855		12,154
(Gain) loss on divestitures		(95,099	)		19,068		—
Depreciation and amortization		4,695			15,841		17,029
Total operating expenses		(14,983	)		295,184		348,874
Operating income from discontinued operations		95,000			29,536		54,526
Other expenses:
Interest expense		48			68		72
Total other expenses		48			68		72
Income before income taxes from discontinued operations		94,952			29,468		54,454
Provision for income taxes from discontinued operations		41,318			8,639		13,104
Net income from discontinued operations, net of tax		53,634			20,829		41,350
Less: net income (loss) from discontinued operations attributable to noncontrolling interest, net of tax		2,192			594		(546	)
Net income from discontinued operations attributable to stockholders of Advantage Solutions Inc.	$	51,442		$	20,235	$	41,896

The following table provides a summary of the cash flows from discontinued operations:

	Year Ended December 31,
(in thousands)	2024			2023			2022
Net cash provided by operating activities from discontinued operations	$	6,437		$	10,513		$	16,553
Net cash used in investing activities from discontinued operations		(7,304	)		(4,708	)		(7,440	)
Net cash used in financing activities from discontinued operations		(4,362	)		(2,942	)		(10,263	)
Net effect of foreign currency changes on cash from discontinued operations		(412	)		76			(307	)
Net change in cash, cash equivalents and restricted cash from discontinued operations	$	(5,641	)	$	2,939		$	(1,457	)

2022 Acquisitions

Business Acquisition [Line Items]

Schedule of Fair Values of Identifiable Assets and Liabilities of Acquisitions

The fair values of the identifiable assets and liabilities of the acquisitions less post-close adjustments related to working capital completed during the year ended December 31, 2022, as of the applicable acquisition dates, are as follows:

(in thousands)
Consideration:
Cash	$	74,206
Holdback		810
Fair value of contingent consideration		510
Total consideration		75,526
Recognized amounts of identifiable assets acquired and liabilities assumed:
Assets
Accounts receivable	$	6,817
Other assets		3,446
Identifiable intangible assets		25,546
Total assets		35,809
Liabilities
Accounts payable		7,363
Deferred tax liabilities and other		8,546
Total liabilities		15,909
Redeemable noncontrolling interest		1,987
Noncontrolling interest		974
Total identifiable net assets		16,939
Goodwill arising from acquisitions	$	58,587

Schedule of Fair Value and Estimated Useful Lives of Intangible Assets Acquired

The identifiable intangible assets are amortized on a straight-line basis over their estimated useful lives. The fair value and estimated useful lives of the intangible assets acquired are as follows:

(in thousands)	Amount		Weighted Average Useful Life
Client relationships	$	24,413	6 years
Trade names		1,133	5 years
Total identifiable intangible assets		25,546