Description of Business and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated statement of financial position to the amounts shown in the Condensed Consolidated Statements of Cash Flows:

	As of
	June 30,
	2021		2020
	(In thousands)
Cash and cash equivalents	$	85,069	$	77,315
Restricted cash	8,440		7,883
Restricted cash included in other long-term assets	6,856		4,200
Total cash, cash equivalents, and restricted cash shown in the Condensed Consolidated Statement of Cash Flows	$	100,365	$	89,398

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Additional information regarding the Company's assets and liabilities that are measured at fair value on a recurring basis is presented in the following tables:

	Fair Values at Reporting Date Using*
Descriptions	Balance, June 30, 2021		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets
Commercial bank certificates of deposits ($7.0 million is recorded in the long term asset section of the Condensed Consolidated Balance Sheets in "Other Assets")	$	20,732	$	—	$	20,732	$	—
Mutual funds (recorded in the long term asset section of the Condensed Consolidated Balance Sheets in "Other Assets")	155		155		—		—
Total assets measured at fair value	$	20,887	$	155	$	20,732	$	—
Liabilities
Contingent accrued earn-out acquisition consideration (a)	$	2,560	$	—	$	—	$	2,560
Total liabilities measured at fair value	$	2,560	$	—	$	—	$	2,560
(a) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected revenues and cash flows, rate of return, and probability assessments.
* During the six months ended June 30, 2021, there were no transfers between fair value Levels 1, 2 or 3.

	Fair Values at Reporting Date Using*
Descriptions	Balance, December 31, 2020		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets
Commercial bank certificates of deposits ($7.4 million is recorded in the long term asset section of the Condensed Consolidated Balance Sheets in "Other Assets")	$	32,072	$	—	$	32,072	$	—
Mutual funds	381		381		—		—
Total assets measured at fair value	$	32,453	$	381	$	32,072	$	—
Liabilities
Contingent accrued earn-out acquisition consideration (a)	$	—	$	—	$	—	$	—
Total liabilities measured at fair value	$	—	$	—	$	—	$	—
(a) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected revenues and cash flows, rate of return, and probability assessments.
* During the year ended December 31, 2020, there were no transfers between fair value Levels 1, 2 or 3.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

For the Company's assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the following table provides a reconciliation of the beginning and ending balances for each category therein, and gains or losses recognized during the six months ended June 30, 2021 and during the year ended December 31, 2020:

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Contingent Liability for Accrued Earn-out Acquisition Consideration	June 30, 2021		December 31, 2020
	(In thousands)
Beginning balance	$	—	$	10,095
Total remeasurement adjustments:
Gains included in earnings **	—		(3,105)
Remeasurement against goodwill	2,560		—
Foreign currency translation adjustments ***	—		(537)
Acquisitions and settlements
Business settlements	—		(6,453)
Ending balance	$	2,560	$	—
The amount of total (gains) losses for the period included in earnings or changes to net assets, attributable to changes in unrealized gains relating to assets or liabilities still held at period-end.	$	—	$	(3,105)
** recorded as a reduction to general and administrative expenses
*** recorded as a component of other comprehensive income within stockholders' equity

Fair Value, Significant Unobservable Inputs Used in Measurement of Contingent Consideration Liabilities

The significant unobservable inputs used in the fair value measurement of the Company's contingent consideration liabilities designated as Level 3 are as follows:

(In thousands)	Fair Value at June 30, 2021	Valuation Technique	Significant Unobservable Input
Contingent acquisition consideration:	$2,560	Discounted cash flow	Projected revenue and probability of achievement

(In thousands)	Fair Value at December 31, 2020	Valuation Technique	Significant Unobservable Input
Contingent acquisition consideration:	$—	Discounted cash flow	Projected revenue and probability of achievement

Schedule of Disaggregation of Revenue

Disaggregation of Revenue

    The following tables present revenue disaggregated by primary geographical regions and product/service channels for the three and six months ended June 30, 2021 and 2020:

	Three Months Ended June 30,				Six Months Ended June 30,
Revenue:	2021		2020		2021		2020
	(In thousands)
India*	$	188,612	$	52,635	$	420,153	$	126,550
United States	37,722		41,714		75,788		83,626
Australia	8,688		7,399		18,372		15,585
Latin America	3,095		3,577		6,193		7,814
Europe	4,064		3,249		8,168		6,530
Canada	1,595		1,119		2,745		2,233
Singapore*	1,125		795		2,194		2,048
Indonesia*	459		179		864		2,321
United Arab Emirates*	28		10		28		134
Philippines*	383		253		827		1,529
New Zealand	551		382		1,043		818
	$	246,322	$	111,312	$	536,375	$	249,188
*Primarily India led businesses for which total revenue was $189.9 million and $422.5 million for the three and six months ended June 30, 2021, respectively, and $53.2 million and $131.1 million for the three and six months ended June 30, 2020, respectively.

Schedule of Revenue by Product/Service Groups

Presented in the table below is the breakout of our revenue streams for each of those product/service channels for the three and six months ended June 30, 2021 and 2020.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
	(In thousands)
EbixCash Exchanges	189,947		53,240		422,499		131,095
Insurance Exchanges	41,916		42,959		85,151		86,960
Risk Compliance Solutions	14,459		15,113		28,725		31,133
Totals	$	246,322	$	111,312	$	536,375	$	249,188

Contract with Customer, Asset and Liability

	June 30, 2021		December 31, 2020
	(Unaudited)
	(In thousands)
Balance, beginning of period	$	1,630	$	1,897
Costs recognized from the beginning balance	(342)		(743)
Additions, net of costs recognized	294		476
Balance, end of period	$	1,582	$	1,630

This portion is recognized over the expected useful life of the customizations.

	June 30, 2021		December 31, 2020
	(Unaudited)
	(In thousands)
Balance, beginning of period	$	40,930	$	37,253
Revenue recognized from beginning balance	(20,866)		(32,783)
Additions from business acquisitions	—		—
Additions, net of revenue recognized and currency translation	22,982		36,460
Balance, end of period	$	43,046	$	40,930

Schedule of Finite-Lived Intangible Assets by Major Class, Estimated Useful Lives

We amortize these intangible assets on a straight-line basis over their estimated useful lives, as follows:

Category	Life (yrs)
Airport contracts	9
Backlog	1-1.5
Brand	15
Customer relationships	7–20
Database	10
Dealer networks	15-20
Developed technology	3–12
Non-compete agreements	5
Store networks	5
Trademarks	3–15