Business Combinations (Tables)

6 Months Ended

Jun. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Allocation of Total Purchase Price

The allocation of the total purchase price is summarized below (in thousands):

	Wrike
	Purchase Price Allocation		Asset Life
Current assets	$	32,008
Intangible assets	$	824,900	2 - 7 years
Goodwill	$	1,657,606	Indefinite
Other assets	$	17,681
Assets acquired	$	2,532,195
Current liabilities assumed	$	85,368
Long-term liabilities assumed	$	202,511
Deferred tax liabilities, non-current	$	177,624
Net assets acquired	$	2,066,692

Schedule of Intangible Assets Acquired

Identifiable intangible assets acquired in connection with the Wrike acquisition (in thousands) and the weighted-average lives are as follows:

	Wrike		Asset Life
Core and product technologies	$	347,900	6 years
Customer relationships	$	446,400	7 years
Backlog	$	13,500	2 years
Trade names	$	17,100	3 years
Total	$	824,900

Schedule of Pro Forma Information

The following unaudited pro-forma information combines the consolidated results of the operations of the Company and Wrike as if the acquisition had occurred on January 1, 2020, the first day of the Company's fiscal year 2020 (in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Revenues	$	812,111	$	823,278	$	1,610,130	$	1,702,674
Income from operations	$	84,677	$	92,565	$	148,331	$	232,427
Net income	$	62,766	$	64,842	$	125,429	$	188,069
Earnings per share - basic	$	0.51	$	0.52	$	1.01	$	1.52
Earnings per share - diluted	$	0.50	$	0.51	$	1.00	$	1.48