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Acquisitions (Tables)
6 Months Ended
Jun. 30, 2018
Acquisitions  
Summary of consideration paid and recognized identifiable assets acquired and liabilities assumed

 

 

 

 

(in thousands)

 

 

 

Consideration

 

   

   

Cash

$

1,054,931

 

Fair value of total consideration transferred

$

1,054,931

 

   

 

 

 

Recognized amounts of identifiable assets acquired and liabilities assumed:

 

   

   

Cash

$

16,856

   

Accounts receivable

 

16,846

 

Property and equipment

 

20,321

   

Other assets

 

3,919

 

Identifiable intangible assets

 

324,885

 

Deferred tax liabilities

 

(113,828)

 

Other liabilities

 

(33,746)

   

Total identifiable net assets

 

235,253

   

Goodwill

 

819,678

   

Total identifiable assets acquired and liabilities assumed

$

1,054,931

 

 

 

 

 

 

Schedule of estimated fair value of identifiable intangible assets acquired and weighted average useful lives

 

 

 

 

 

 

 

(in millions)

    

 

Fair Value

    

Weighted Average Useful Life (in years)

 

Merchant relationships

 

$

179.5

 

8.0

 

Channel relationships

 

 

80.4

 

10.0

 

Technology

 

 

40.8

 

5.0

 

Trade names

 

 

19.3

 

3.5

 

Covenants not-to-compete

 

 

3.2

 

2.0

 

Favorable leases

 

 

1.7

 

6.5

 

Total acquired identifiable intangible assets

 

$

324.9

 

7.7

 

 

 

 

 

 

 

 

 

Schedule of pro forma results of operations

 

 

 

 

 

 

 

 

 

Supplemental pro forma

 

 

Three months ended

 

Six months ended

(in thousands, except per share data)

 

June 30, 2017

 

June 30, 2017

Total revenues

 

$

1,261,499

 

$

2,479,016

Net income attributable to TSYS common shareholders

 

$

108,453

 

$

204,751