v3.24.0.1
Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Purchase Price Allocation The acquisition date fair value of the consideration transferred for Drizly was approximately $943 million, which consisted of the following (in millions):
Fair Value
Common stock issued$881 
Cash42 
Stock-based compensation awards attributable to pre-combination services20 
Total consideration$943 
Fair Value of Assets Acquired and Liabilities Assumed
The following table summarizes the fair value of assets acquired and liabilities assumed as of the date of acquisition (in millions):
Fair Value
Current assets$50 
Goodwill619 
Intangible assets395 
Other long-term assets7 
Total assets acquired1,071 
Current liabilities(44)
Deferred tax liability(79)
Non-current liabilities(5)
Total liabilities assumed(128)
Net assets acquired$943 
The following table summarizes the fair value of assets acquired and liabilities assumed as of the date of acquisition (in millions):
Fair Value
Cash and cash equivalents$29 
Accounts receivable, net
899 
Prepaid expenses and other current assets
23 
Property and equipment, net
44 
Operating lease right-of-use assets
57 
Intangible assets, net
902 
Goodwill1,438 
Other assets
3 
Total assets acquired3,395 
Accounts payable
(516)
Operating lease liabilities, current
(7)
Accrued and other current liabilities
(363)
Operating lease liabilities, non-current(66)
Deferred tax liability(163)
Other long-term liabilities
(1)
Total liabilities assumed(1,116)
Net assets acquired$2,279 
Identifiable Intangible Assets Acquired and Estimated Useful Lives
The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in millions, except years):
Fair ValueWeighted Average Remaining Useful Life - Years
Consumer relationship$60 5
Retailer relationship90 10
Advertiser relationship140 12
Developed technology75 3
Trade names30 6
Total$395 
The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in millions, except years):
Fair ValueWeighted Average Remaining Useful Life - Years
Consumer relationships$530 12
Developed technology
363 7
Trade names9 2
Total$902 
Pro Forma Information The unaudited pro forma information presented below is for informational purposes only and is not necessarily indicative of our consolidated results of operations of the consolidated business had the acquisition actually occurred at the beginning of applicable comparable prior reporting period or of the results of our future operations of the consolidated business.
(In millions)
Year Ended December 31, 2021
(Unaudited)
Revenue$21,764 
Net loss including non-controlling interests(700)