Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The preliminary purchase price allocation is as follows:

	Amount
Cash and cash equivalents	$	130,153
Accounts receivable	413,839
Other current assets	41,736
Fixed Assets	80,047
Right-of-use lease assets - operating leases	253,629
Intangible assets	810,900
Other assets	16,818
Accounts payable	(170,361)
Accruals and other liabilities	(309,081)
Advance billings	(211,403)
Current portion of lease liabilities	(48,517)
Current portion of deferred acquisition consideration	(53,054)
Long-term debt	(901,736)
Revolving credit facility	(109,954)
Long-term portion of deferred acquisition consideration	(8,056)
Long-term portion of lease liabilities	(289,128)
Other liabilities	(132,394)
Redeemable noncontrolling interests	(25,990)
Preferred shares	(209,980)
Noncontrolling interests	(151,090)
Net liabilities assumed	(873,622)
Goodwill	1,299,374
Purchase price consideration	$	425,752

The preliminary purchase price allocation is as follows:

	Amount
Cash and cash equivalents	$	30,985
Accounts receivable	28,685
Other current assets	3,207
Fixed Assets	237
Right-of-use lease assets - operating leases	2,060
Intangible assets	14,974
Other assets	55
Accounts payable	(6,344)
Accruals and other liabilities	(27,353)
Advance billings	(15,956)
Current portion of lease liabilities	(857)
Income taxes payable	(967)
Long-term portion of lease liabilities	(3,744)
Other liabilities	(1,204)
Net assets assumed	23,778
Goodwill	4,275
Purchase price consideration	$	28,053

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the date of each acquisition (in thousands):

	2020
	Sloane		Kettle		Truelogic		Total
Cash, cash equivalents and restricted cash	$	—	$	49	$	90	$	139
Accounts receivable and other current assets	2,768		2,732		2,958		8,458
Other noncurrent assets	—		172		10		182
Intangible assets	5,900		1,930		9,500		17,330
Property and equipment	72		58		50		180
Right-of-use lease assets – operating leases	—		533		201		734
Accounts payable and other current liabilities	(469)		(552)		(1,063)		(2,084)
Advanced billings	(130)		(310)		(429)		(869)
Operating lease liabilities	—		(533)		(201)		(734)
Goodwill	16,275		1,323		6,184		23,782
Total net assets acquired	$	24,416	$	5,402	$	17,300	$	47,118

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table presents the details of identifiable intangible assets acquired.

	Estimated Fair Value		Estimated Useful Life in Years
Trade Names	$	98,000	10
Customer Relationships	712,900		6-20
Total Acquired Intangible Assets	$	810,900

The weighted average life of the total acquired identifiable intangible assets is ten years. The following table presents the details of identifiable intangible assets acquired.

	Estimated Fair Value		Estimated Useful Life in Years
Trade Names	$	1,349	15
Customer Relationships	13,625		10
Total Acquired Intangible Assets	$	14,974

The following table reports the fair value of intangible assets acquired, including the corresponding weighted average amortization periods, as of the date of each acquisition (in thousands, except years):

		2020
	Weighted Average Amortization Period	Sloane		Kettle		Truelogic		Total
Customer relationships	10 years	$	4,600	$	1,600	$	9,100	$	15,300
Trade names and trademarks	11 years	1,300		330		400		2,030
Total		$	5,900	$	1,930	$	9,500	$	17,330

Business Acquisition, Pro Forma Information

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisitions been consummated as of that time.

	Twelve Months Ended December 31, 2021		Twelve Months Ended December 31, 2020
Revenue	$	2,224,343	$	2,087,025

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisitions been consummated as of that time.

	Twelve Months Ended December 31, 2021		Twelve Months Ended December 31, 2020
Revenue	$	1,488,532	$	902,577
Net Income	38,719		72,715

The following table summarizes the total revenue and net income included in the Consolidated Statements of Operations and Comprehensive Income (Loss) for the twelve months ended December 31, 2020 from the date of each acquisition (in thousands):

	Twelve Months Ended December 31, 2020
Revenue	$	22,381
Net Income	2,685

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisitions been consummated as of that time (in thousands):

	Twelve Months Ended December 31, 2020
Revenue	$	911,203
Net Income	75,767