Gain on Sale of Businesses (Tables)

9 Months Ended

Sep. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table presents a reconciliation of the sale price to the net gain recognized on the disposed business operations which is included in "Gain on sale of businesses" in our condensed consolidated statements of operations:

(In thousands)
Sale price	$	226,623
Net assets/(liabilities) removed	(7,617)
Transaction expenses	(5,573)
Foreign currency	1,263
Gain on sale of businesses	$	214,696

The following table presents a reconciliation of the sale price to the cash proceeds received from CGM which are included in "Sale of businesses" in our condensed consolidated statements of cash flows:

(In thousands)
Sale price	$	226,623
VAT and other transaction taxes, net	(2,142)
Cash received from sale of businesses	$	224,481

Amounts included in our condensed consolidated balance sheets related to the disposed business operations immediately prior to the sale on July 1, 2020 were as follows:

(In thousands)	Asset/(Liability)
Receivables, net	$	7,334
Inventory	65
Prepaid expenses and other	5,759
Property and equipment, net	336
Right-of-use assets	554
Software development costs, net	5,532
Goodwill	7,692
Intangible assets, net	3,687
Accounts payable	(1,631)
Deferred revenue	(16,655)
Accrued payroll and tax withholdings	(4,545)
Other current liabilities	(511)
Net assets/(liabilities)	$	7,617