Other long term liabilities

  
The following summarizes the allocation of purchase price for the Itiviti acquisition (in millions):

|  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
|  | Itiviti |
|  |  |
| Accounts receivable | $ | 38.9  |  |
| Other current assets | 14.2  |  |
| Property, plant and equipment | 4.4  |  |
| Intangible assets | 904.6  |  |
| Goodwill | 1,928.7  |  |
| Other non-current assets | 48.3  |  |
| Payables and accrued expenses | (72.0) |  |
| Current contract liabilities | (55.4) |  |
| Deferred taxes | (200.2) |  |
|  |  |
| Other long term liabilities | (31.2) |  |
| Consideration paid, net of cash acquired | $ | 2,580.4  |  |

  
Unaudited Pro Forma Financial InformationThe unaudited pro forma condensed consolidated results of operations in the table below are provided for illustrative purposes only and summarize the combined results of operations of Broadridge and Itiviti. For purposes of this pro forma presentation, the acquisition of Itiviti is assumed to have occurred on July 1, 2019. The pro forma financial information for all periods presented also includes the estimated business combination accounting effects resulting from this acquisition, notably amortization expense from the acquired intangible assets, interest expense from recent debt financing, the proceeds of which were used to fund the acquisition, and certain other integration related impacts. This unaudited pro forma financial information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisition had actually occurred on July 1, 2019, nor of the results of operations that may be obtained in the future.  


|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Years ended June 30, |
|  |  | 2021 |  | 2020 |
|  |  | (in millions) |
| Revenues |  | $ | 5,221.7  |  |  | $ | 4,723.4  |  |
| Net earnings |  | $ | 514.9  |  |  | $ | 367.5  |  |
|  |  |  |  |  |
| Basic earnings per share |  | $ | 4.45  |  |  | $ | 3.21  |  |
| Diluted earnings per share |  | $ | 4.37  |  |  | $ | 3.14  |  |

  
AdvisorStreamIn June 2021, the Company acquired AdvisorStream, a leading provider of digital engagement and marketing solutions for the global wealth and insurance industries. AdvisorStream's advisor marketing platform enables advisors to drive revenue and growth by providing personalized and consistent client communications. AdvisorStream is included in the Company’s GTO reportable segment.•The contingent consideration liability is payable through fiscal year 2024 upon the achievement by the acquired business of certain revenue targets, and has a maximum potential pay-out of $12.0 million upon the achievement in full of the defined financial targets by the acquired business.•The fair value of the contingent consideration liability at June 30, 2022 is $8.0 million. •Goodwill is not tax deductible. •Intangible assets acquired consist primarily of customer relationships and software technology, which are being amortized over a five-year life and five-year life, respectively.70  

