|3 Months Ended|
Mar. 31, 2019
|Subsequent Events [Abstract]|
On April 11, 2019, we acquired substantially all of the assets of LeaseTerm Insurance Group, LLC, a provider of alternatives to traditional renters’ insurance programs and tenant security deposit programs for the multifamily housing industry. Purchase consideration was comprised of $25.9 million of cash paid at closing and deferred cash obligations of up to $2.7 million. The deferred cash obligations are subject to any indemnification claims and will be released in part on the first anniversary of the closing with the remainder released on the second anniversary of the closing.
Due to the timing of this acquisition, certain disclosures required by ASC 805, including the allocation of the purchase price, have been omitted because the initial accounting for the business combinations was incomplete as of the filing date of this report. Such information will be included in a subsequent Form 10-Q.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef