Deferred Acquisition Consideration (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Changes in Contingent Deferred Acquisition Consideration

The following table presents changes in deferred acquisition consideration, measured at fair value on a recurring basis using significant unobservable inputs, and a reconciliation to the amounts reported on the Unaudited Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022:


	September 30, 2023		December 31, 2022
	(dollars in thousands)
Beginning balance	$	161,323	$	222,369
Payments (1)	(60,806)		(74,963)
Adjustments to deferred acquisition consideration (2)	10,881		(12,779)
Additions (3)	22,172		26,594
Currency translation adjustment	140		(758)
Other	27		860
Ending balance (4)	$	133,737	$	161,323

(1) Includes deferred acquisition consideration payments settled in the shares of Class A Common Stock of $20.1 million and $1.0 million, respectively, for the period ended September 30, 2023 and December 31, 2022.

(2) Adjustment to deferred acquisition consideration contains fair value changes from the Company’s initial estimates of deferred acquisition payments.

(3) In 2021, the Company entered into an agreement to purchase the remaining 26.7% interest in Targeted Victory it did not previously own. The agreement provided for the purchase of 50% of the interest on October 1, 2021 (payable in October 2023) and 50% on July 31, 2023 (payable in October 2025 with a seller’s right to defer until October 2027). In connection with the purchase, the estimated amount payable in October 2025, was reclassified from redeemable noncontrolling interest to deferred acquisition consideration.

(4) The contingent and fixed deferred acquisition consideration obligation was $90.9 million and $42.8 million, respectively, as of September 30, 2023 and $69.9 million and $91.4 million, respectively, as of December 31, 2022. The deferred acquisition consideration as of September 30, 2023, includes $42.6 million expected to be settled in shares of Class A Common Stock.