Business Combinations inVentiv Health Merger On August 1, 2017 (the Merger Date), the Company completed the Merger with inVentiv with the Company surviving as the accounting and legal entity acquirer. The Merger was accounted for as a business combination using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations . The purchase price has been allocated to the tangible assets and identifiable intangible assets acquired and liabilities assumed based upon their fair values. The excess of the purchase price over the tangible and intangible assets acquired and liabilities assumed has been recorded as goodwill. The goodwill in connection with the Merger is primarily attributable to the assembled workforce of inVentiv and the synergies of the Merger. In connection with the Merger, the Company assumed certain contingent tax-sharing obligations of inVentiv. The fair value of the contingent tax-sharing liability is remeasured at the end of each reporting period, with changes in the estimated fair value reflected in earnings until the liability is fully settled. The estimated fair value of the contingent tax-sharing obligations liability was $32.7 million and $15.7 million as of December 31, 2019 and 2018, respectively. The liability is included in accrued expenses and other long-term liabilities on the accompanying consolidated balance sheets. The results of inVentivs operations are included in the Companys consolidated statements of operations beginning on the Merger Date. Computing a separate measure of inVentivs stand-alone profitability for the period after the Merger Date is impracticable. Fair Value of Consideration Transferred The Merger Date fair value of the consideration transferred consisted of the following (in thousands, except for share and per share amounts): Fair value of common stock issued to acquiree stockholders (a) $ 2,753,239 Fair value of replacement share-based awards issued to acquiree employees (b) 16,232 Repayment of term loan obligations and accrued interest (c) 1,736,152 Total consideration transferred $ 4,505,623 (a) Represents the fair value of 49,297,022 shares of the Companys common stock at $55.85 per share, the closing price per share on the Merger closing date of August 1, 2017. (b) Represents the fair value of replacement share-based awards attributable to pre-combination services. For further information about the valuation of share-based awards, see "Note 18 - Share-Based Compensation." (c) Represents repayment of inVentivs term loan obligations and related accrued interest as part of the Merger consideration on the Merger Date. For further information, see "Note 4 - Long-Term Debt Obligations." Allocation of Consideration Transferred The following table summarizes the allocation of the consideration transferred based on managements estimates of the Merger Date fair values of assets acquired and liabilities assumed, with the excess of the purchase price over the estimated fair values of the identifiable net assets acquired recorded as goodwill (in thousands): Assets acquired: Cash and cash equivalents $ 57,338 Restricted cash 433 Accounts receivable 367,595 Unbilled accounts receivable 262,944 Other current assets 97,922 Property and equipment 114,041 Intangible assets 1,334,200 Other assets 50,052 Total assets acquired 2,284,525 Liabilities assumed: Accounts payable 38,072 Accrued expenses 304,341 Deferred revenue 247,474 Capital leases 40,928 Long-term debt, current and non-current 737,872 Deferred income taxes, net 14,751 Other liabilities 119,480 Total liabilities assumed 1,502,918 Total identifiable assets acquired, net 781,607 Goodwill $ 3,724,016 The goodwill recognized in connection with the Merger was $3.72 billion, of which $2.23 billion was assigned to the Clinical Solutions segment and $1.49 billion to the Commercial Solutions segment. Goodwill generated in the Merger is not deductible for income tax purposes. The following table summarizes the fair value of identified intangible assets and their respective useful lives as of the Merger Date (dollars in thousands): Estimated Fair Value Estimated Useful Life Customer relationships $ 1,169,700 6 years - 11 years Backlog 137,100 5 months - 2 years Trademarks subject to amortization 27,400 5 months - 6 years Total intangible assets $ 1,334,200 Kinapse Limited AcquisitionIn August 2018, the Company completed the acquisition of Kinapse Topco Limited (Kinapse), a provider of advisory and operational solutions to the global life sciences industry. The total purchase consideration was $100.1 million plus assumed debt, and included cash acquired of $4.9 million. The Company recognized $74.6 million of goodwill and $57.3 million of intangible assets, principally customer relationships, as a result of the acquisition. The goodwill is not deductible for income tax purposes. The purchase price has been allocated to the tangible assets and identifiable intangible assets acquired and liabilities assumed based upon their fair values. The excess of the purchase price over the tangible and intangible assets acquired and liabilities assumed has been recorded as goodwill. The operating results from the Kinapse acquisition have been included in the Company's Commercial Solutions segment from the date of acquisition.