Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2022

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The preliminary purchase price allocation is as follows:

	Amount
Cash and cash equivalents	$	2,771
Accounts receivable	7,638
Other current assets	1,634
Fixed assets	2,338
Intangible assets	12,410
Other assets	1,416
Accounts payable	(6,855)
Accruals and other liabilities	(4,896)
Advance billings	(1,095)
Other liabilities	(3,448)
Net assets assumed	11,913
Goodwill	25,552
Purchase price consideration	$	37,465

The preliminary purchase price allocation is as follows:

	Amount
Accounts receivable	$	582
Other current assets	669
Intangible assets	13,200
Accounts payable	(379)
Other liabilities	(270)
Noncontrolling interests	(2,667)
Net assets assumed	11,135
Goodwill	6,569
Purchase price consideration	$	17,704

The purchase price allocation is as follows:

	Amount
Cash and cash equivalents	$	130,197
Accounts receivable	398,736
Other current assets	41,291
Fixed assets	81,343
Right-of-use lease assets - operating leases	252,739
Intangible assets	810,900
Other assets	18,282
Accounts payable	(139,590)
Accruals and other liabilities	(307,439)
Advance billings	(211,212)
Current portion of lease liabilities	(54,009)
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	(283,637)
Other liabilities	(139,026)
Redeemable noncontrolling interests	(25,990)
Preferred shares	(209,980)
Noncontrolling interests	(151,090)
Net liabilities assumed	(861,285)
Goodwill	1,290,347
Purchase price consideration	$	429,062

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	4,410
Purchase price consideration	$	28,188

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	$	5,930	10
Customer Relationships	5,390		11
Other	1,090		7
Total Acquired Intangible Assets	$	12,410

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

	Estimated Fair Value		Estimated Useful Life in Years
Customer Relationships	$	11,400	10
Trade names	1,800		10
Total Acquired Intangible Assets	$	13,200

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		6-15
Total Acquired Intangible Assets	$	810,900

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

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.

	Three Months Ended September 30,		Nine Months Ended September 30,
	2021		2022		2021
Revenue	$	473,539	$	1,989,833	$	878,610
Net Income	7,031		92,670		30,495

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.

	Three Months Ended September 30,		Nine Months Ended September 30,
	2021		2022		2021
Revenue	$	468,862	$	1,983,437	$	867,533
Net Income	8,462		94,768		34,491

The unaudited pro forma information for the periods set forth below gives effect to the acquisition as if it occurred as of January 1, 2021. 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.

	Three Months Ended September 30, 2021		Nine Months Ended September 30, 2021
Revenue	$	568,424	$	1,612,399

The pro forma net loss was nominal for the three and nine months ended September 30, 2021.

Revenue attributable to MDC, included within the three and nine months ended September 30, 2021 unaudited condensed consolidated statement of operations is $342,539 and $995,729, respectively and operating income was $17,506 and $77,817, respectively.

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.

	Three Months Ended September 30, 2021		Nine Months Ended September 30, 2021
Revenue	$	471,406	$	872,192
Net Income	8,357		33,894