Annual report pursuant to Section 13 and 15(d)


12 Months Ended
Dec. 31, 2020
Business Combinations [Abstract]  
Estimated Fair Value of Net Assets Acquired and Liabilities Assumed at Acquisition Dates The following table summarizes the estimated fair value of the net assets acquired and the liabilities assumed at the acquisition dates during 2020 and 2019.
  December 31,
2020 (3)
  (In millions)
Cash $ 9.7  $ 5.5 
Accounts receivable and other current assets 2.5  5.5 
Other assets 2.7  1.5 
Identifiable intangible assets (1)
59.5  92.0 
Goodwill (2)
58.3  197.4 
Total assets acquired 132.7  301.9 
Other current liabilities (6.4) (5.1)
Other liabilities (15.0) (18.4)
Net assets acquired $ 111.3  $ 278.4 
(1)Identifiable intangible assets are further disaggregated in the following table.
(2)The goodwill related to the 2020 acquisitions were recognized in the International and USIS operating segments. The goodwill related to the International and USIS acquisitions in 2020 are not deductible for tax purposes. The goodwill related to PayNet is included in the USIS and International operating segments and the goodwill related to the other 2019 acquisitions is included in the Workforce Solutions operating segment. The goodwill related to PayNet and the Workforce Solutions acquisitions in 2019 are not deductible for tax purposes.
(3)The above reflects the total net assets recorded from the purchase of the remaining interest of the India joint venture, inclusive of the gain due to remeasurement of the prior equity interest.
Acquired Intangible Assets Fair Value and Weighted-Average Useful Life
The primary reasons the purchase price of these acquisitions exceeded the fair value of the net assets acquired, which resulted in the recognition of goodwill, were expanded growth opportunities from new or enhanced product offerings and geographies, cost savings from the elimination of duplicative activities, and the acquisition of an assembled workforce that are not recognized as assets apart from goodwill.
December 31,
2020 2019
Intangible asset category Fair value Weighted-average useful life Fair value Weighted-average useful life
  (in millions) (in years) (in millions) (in years)
Customer relationships $ 10.6  10.0 $ 17.1  9.9
Acquired software and technology 0.3  3.0 —  0.0
Proprietary database 48.2  12.3 68.6  6.9
Non-compete agreements 0.1  5.0 4.0  5.0
Trade names and other intangible assets 0.3  2.0 2.3  4.5
Total acquired intangibles $ 59.5  11.7 $ 92.0  7.3