cnne-20210930
false2021Q3000170472012/31P3Y00017047202021-01-012021-09-30xbrli:shares00017047202021-10-29iso4217:USD00017047202021-09-3000017047202020-12-310001704720cnne:DeferredTaxLiabilityMember2021-09-300001704720cnne:DeferredTaxLiabilityMember2020-12-31iso4217:USDxbrli:shares0001704720cnne:RestaurantSalesMember2021-07-012021-09-300001704720cnne:RestaurantSalesMember2020-07-012020-09-300001704720cnne:RestaurantSalesMember2021-01-012021-09-300001704720cnne:RestaurantSalesMember2020-01-012020-09-300001704720cnne:TotalOtherOperatingRevenueMember2021-07-012021-09-300001704720cnne:TotalOtherOperatingRevenueMember2020-07-012020-09-300001704720cnne:TotalOtherOperatingRevenueMember2021-01-012021-09-300001704720cnne:TotalOtherOperatingRevenueMember2020-01-012020-09-3000017047202021-07-012021-09-3000017047202020-07-012020-09-3000017047202020-01-012020-09-300001704720us-gaap:CommonStockMember2020-06-300001704720us-gaap:AdditionalPaidInCapitalMember2020-06-300001704720us-gaap:RetainedEarningsMember2020-06-300001704720us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300001704720us-gaap:TreasuryStockMember2020-06-300001704720us-gaap:NoncontrollingInterestMember2020-06-3000017047202020-06-300001704720us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300001704720us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-300001704720us-gaap:AdditionalPaidInCapitalMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-07-012020-09-300001704720us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-07-012020-09-300001704720us-gaap:RetainedEarningsMember2020-07-012020-09-300001704720us-gaap:NoncontrollingInterestMember2020-07-012020-09-300001704720us-gaap:CommonStockMember2020-09-300001704720us-gaap:AdditionalPaidInCapitalMember2020-09-300001704720us-gaap:RetainedEarningsMember2020-09-300001704720us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300001704720us-gaap:TreasuryStockMember2020-09-300001704720us-gaap:NoncontrollingInterestMember2020-09-3000017047202020-09-300001704720us-gaap:CommonStockMember2021-06-300001704720us-gaap:AdditionalPaidInCapitalMember2021-06-300001704720us-gaap:RetainedEarningsMember2021-06-300001704720us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001704720us-gaap:TreasuryStockMember2021-06-300001704720us-gaap:NoncontrollingInterestMember2021-06-3000017047202021-06-300001704720us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300001704720us-gaap:TreasuryStockMember2021-07-012021-09-300001704720us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300001704720us-gaap:AdditionalPaidInCapitalMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2021-07-012021-09-300001704720us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2021-07-012021-09-300001704720us-gaap:NoncontrollingInterestMember2021-07-012021-09-300001704720us-gaap:RetainedEarningsMember2021-07-012021-09-300001704720us-gaap:CommonStockMember2021-09-300001704720us-gaap:AdditionalPaidInCapitalMember2021-09-300001704720us-gaap:RetainedEarningsMember2021-09-300001704720us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300001704720us-gaap:TreasuryStockMember2021-09-300001704720us-gaap:NoncontrollingInterestMember2021-09-300001704720us-gaap:CommonStockMember2019-12-310001704720us-gaap:AdditionalPaidInCapitalMember2019-12-310001704720us-gaap:RetainedEarningsMember2019-12-310001704720us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001704720us-gaap:TreasuryStockMember2019-12-310001704720us-gaap:NoncontrollingInterestMember2019-12-3100017047202019-12-310001704720us-gaap:AdditionalPaidInCapitalMember2020-01-012020-09-300001704720us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300001704720us-gaap:NoncontrollingInterestMember2020-01-012020-09-300001704720us-gaap:TreasuryStockMember2020-01-012020-09-300001704720us-gaap:AdditionalPaidInCapitalMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-01-012020-09-300001704720us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-01-012020-09-300001704720us-gaap:RetainedEarningsMember2020-01-012020-09-300001704720us-gaap:CommonStockMember2020-12-310001704720us-gaap:AdditionalPaidInCapitalMember2020-12-310001704720us-gaap:RetainedEarningsMember2020-12-310001704720us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001704720us-gaap:TreasuryStockMember2020-12-310001704720us-gaap:NoncontrollingInterestMember2020-12-310001704720us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300001704720us-gaap:TreasuryStockMember2021-01-012021-09-300001704720us-gaap:AdditionalPaidInCapitalMember2021-01-012021-09-300001704720us-gaap:AdditionalPaidInCapitalMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2021-01-012021-09-300001704720us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2021-01-012021-09-300001704720us-gaap:NoncontrollingInterestMember2021-01-012021-09-300001704720us-gaap:RetainedEarningsMember2021-01-012021-09-300001704720cnne:CeridianMember2021-01-012021-09-300001704720cnne:CeridianMember2020-01-012020-09-300001704720cnne:DunAndBradstreetCorporationMember2021-01-012021-09-300001704720cnne:DunAndBradstreetCorporationMember2020-01-012020-09-300001704720cnne:OptimalBlueMember2021-01-012021-09-300001704720cnne:OptimalBlueMember2020-01-012020-09-300001704720cnne:SightlinePaymentsLLCMember2021-01-012021-09-300001704720cnne:SightlinePaymentsLLCMember2020-01-012020-09-300001704720cnne:OtherInvestmentsInUnconsolidatedAffiliatesMember2021-01-012021-09-300001704720cnne:OtherInvestmentsInUnconsolidatedAffiliatesMember2020-01-012020-09-300001704720cnne:CeridianMembercnne:UnderwrittenSecondaryPublicOfferingMember2021-05-202021-05-200001704720cnne:CeridianMembercnne:UnderwrittenSecondaryPublicOfferingMember2021-09-012021-09-300001704720cnne:CeridianMember2021-09-30xbrli:pure0001704720cnne:CeridianMember2021-01-012021-09-300001704720us-gaap:SubsequentEventMembercnne:CeridianMembercnne:UnderwrittenSecondaryPublicOfferingMember2021-10-212021-10-210001704720us-gaap:SubsequentEventMembercnne:CeridianMembercnne:UnderwrittenSecondaryPublicOfferingMember2021-10-212021-10-310001704720cnne:DunAndBradstreetCorporationMembercnne:BisnodeBusinessInformationGroupABMember2021-01-082021-01-080001704720cnne:DunAndBradstreetCorporationMember2021-01-072021-01-070001704720cnne:DunAndBradstreetCorporationMember2021-01-082021-01-080001704720cnne:UnderwrittenSecondaryPublicOfferingMembercnne:DunAndBradstreetCorporationMember2021-06-282021-06-280001704720cnne:UnderwrittenSecondaryPublicOfferingMembercnne:DunAndBradstreetCorporationMember2021-06-280001704720cnne:DunAndBradstreetCorporationMember2021-06-282021-06-280001704720cnne:AlightIncMembercnne:AlightSubscriptionAgreementPurchaseOfCommonStockMember2021-01-250001704720cnne:AlightIncMembercnne:AlightSubscriptionAgreementPurchaseOfCommonStockMember2021-04-012021-06-300001704720cnne:AlightIncMembercnne:FoleyTrasimeneAcquisitionCorpForwardPurchaseAgreementMember2021-04-012021-06-300001704720cnne:FoleyTrasimeneAcquisitionCorpMember2021-04-012021-06-300001704720cnne:FoleyTrasimeneAcquisitionCorpMember2021-07-012021-08-050001704720cnne:AlightIncMember2021-07-020001704720cnne:SponsorFTACMember2021-07-020001704720cnne:AlightIncMember2021-07-022021-07-020001704720cnne:AlightIncMembercnne:AlightSubscriptionAgreementPurchaseOfCommonStockMember2021-09-300001704720cnne:PaysafeSubscriptionAgreementPurchaseOfCommonStockMembercnne:PaysafeMember2021-03-302021-03-300001704720cnne:ForwardPurchaseAgreementPurchaseOfCommonStockMembercnne:PaysafeMember2021-03-302021-03-300001704720cnne:PaysafeMember2021-03-300001704720cnne:PaysafeMember2021-03-302021-03-300001704720cnne:PaysafeMember2021-01-012021-09-300001704720cnne:PaysafeMember2021-09-30cnne:shares0001704720cnne:AusterlitzIMember2021-02-252021-02-250001704720cnne:SponsorOfAusterlitzIMember2021-02-252021-02-250001704720cnne:SponsorOfAusterlitzIMember2021-02-250001704720cnne:SubscriptionForAusterlitzIClassAOrdinarySharesMembercnne:AusterlitzIMember2021-05-100001704720cnne:SubscriptionForAusterlitzIClassAOrdinarySharesMembercnne:AusterlitzIMember2021-05-102021-05-100001704720cnne:AusterlitzIIMember2021-02-252021-02-250001704720cnne:AusterlitzIIMembercnne:ForwardPurchaseAgreementPurchaseOfCommonStockMember2021-02-250001704720cnne:AusterlitzIIMembercnne:ForwardPurchaseAgreementPurchaseRedeemableWarrantsMember2021-02-250001704720cnne:AusterlitzIIMembercnne:ForwardPurchaseAgreementPurchaseOfCommonStockMember2021-02-252021-02-250001704720cnne:EquitySponsorsMember2021-02-252021-02-250001704720cnne:EquitySponsorsMember2021-02-250001704720cnne:TrebiaMember2020-06-052020-06-050001704720cnne:TrebiaMembercnne:SubscriptionForTrebiaClassACommonStockMember2021-06-280001704720cnne:TrebiaMembercnne:SubscriptionForTrebiaClassACommonStockMember2021-06-282021-06-280001704720cnne:TailwindSubscriptionAgreementPurchaseOfCommonStockMembercnne:TailwindAcquisitionCorpMember2021-03-010001704720cnne:TailwindQOMPLXMergerMember2021-03-012021-03-010001704720cnne:TailwindQOMPLXMergerMember2021-07-012021-09-300001704720us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMembercnne:VIBSQMember2021-07-300001704720cnne:VIBSQMember2021-01-012021-09-300001704720us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMembercnne:LegendaryBakingMember2021-08-100001704720us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMembercnne:LegendaryBakingMember2021-04-012021-06-300001704720cnne:LegendaryBakingMember2021-07-012021-09-3000017047202021-03-012021-03-0100017047202021-02-260001704720cnne:SightlinePaymentsLLCMember2021-03-312021-03-310001704720cnne:SightlinePaymentsLLCMember2021-08-162021-08-160001704720cnne:SightlinePaymentsLLCMember2021-08-160001704720cnne:SenatorJVMember2021-01-012021-09-300001704720cnne:ColtHoldingsLLCMembercnne:CeskaZbrojovkaGroupSEMember2021-05-210001704720cnne:ColtHoldingsLLCMember2021-05-212021-05-210001704720us-gaap:SubsequentEventMembercnne:ColtHoldingsLLCMembersrt:ScenarioForecastMember2021-10-012021-10-310001704720us-gaap:SubsequentEventMembersrt:ScenarioForecastMembercnne:CeskaZbrojovkaGroupSEMember2021-10-012021-10-3100017047202021-05-212021-05-210001704720cnne:RockCreekIdahoHoldingsLLCMember2021-08-100001704720cnne:RockCreekIdahoHoldingsLLCMember2021-08-102021-08-100001704720cnne:RockCreekIdahoHoldingsLLCMemberus-gaap:NotesReceivableMember2021-08-100001704720cnne:TripleTreeHoldingsLLCMember2021-09-300001704720cnne:RestaurantSalesMembercnne:RestaurantGroupMember2021-07-012021-09-300001704720cnne:RestaurantSalesMembercnne:RestaurantGroupMember2020-07-012020-09-300001704720cnne:RestaurantSalesMembercnne:RestaurantGroupMember2021-01-012021-09-300001704720cnne:RestaurantSalesMembercnne:RestaurantGroupMember2020-01-012020-09-300001704720cnne:RestaurantGroupMembercnne:BakerySalesMember2021-07-012021-09-300001704720cnne:RestaurantGroupMembercnne:BakerySalesMember2020-07-012020-09-300001704720cnne:RestaurantGroupMembercnne:BakerySalesMember2021-01-012021-09-300001704720cnne:RestaurantGroupMembercnne:BakerySalesMember2020-01-012020-09-300001704720cnne:FranchiseAndOtherMembercnne:RestaurantGroupMember2021-07-012021-09-300001704720cnne:FranchiseAndOtherMembercnne:RestaurantGroupMember2020-07-012020-09-300001704720cnne:FranchiseAndOtherMembercnne:RestaurantGroupMember2021-01-012021-09-300001704720cnne:FranchiseAndOtherMembercnne:RestaurantGroupMember2020-01-012020-09-300001704720cnne:RestaurantGroupMember2021-07-012021-09-300001704720cnne:RestaurantGroupMember2020-07-012020-09-300001704720cnne:RestaurantGroupMember2021-01-012021-09-300001704720cnne:RestaurantGroupMember2020-01-012020-09-300001704720us-gaap:CorporateAndOtherMembercnne:RealEstateAndResortMember2021-07-012021-09-300001704720us-gaap:CorporateAndOtherMembercnne:RealEstateAndResortMember2020-07-012020-09-300001704720us-gaap:CorporateAndOtherMembercnne:RealEstateAndResortMember2021-01-012021-09-300001704720us-gaap:CorporateAndOtherMembercnne:RealEstateAndResortMember2020-01-012020-09-300001704720us-gaap:CorporateAndOtherMembercnne:OtherProductsAndServicesMember2021-07-012021-09-300001704720us-gaap:CorporateAndOtherMembercnne:OtherProductsAndServicesMember2020-07-012020-09-300001704720us-gaap:CorporateAndOtherMembercnne:OtherProductsAndServicesMember2021-01-012021-09-300001704720us-gaap:CorporateAndOtherMembercnne:OtherProductsAndServicesMember2020-01-012020-09-300001704720cnne:TotalOtherOperatingRevenueMember2021-07-012021-09-300001704720cnne:TotalOtherOperatingRevenueMember2020-07-012020-09-300001704720cnne:TotalOtherOperatingRevenueMember2021-01-012021-09-300001704720cnne:TotalOtherOperatingRevenueMember2020-01-012020-09-300001704720cnne:CeridianMemberus-gaap:FairValueInputsLevel1Member2021-09-300001704720cnne:CeridianMemberus-gaap:FairValueInputsLevel2Member2021-09-300001704720cnne:CeridianMemberus-gaap:FairValueInputsLevel3Member2021-09-300001704720cnne:CeridianMember2021-09-300001704720cnne:OtherMemberus-gaap:FairValueInputsLevel1Member2021-09-300001704720cnne:OtherMemberus-gaap:FairValueInputsLevel2Member2021-09-300001704720cnne:OtherMemberus-gaap:FairValueInputsLevel3Member2021-09-300001704720cnne:OtherMember2021-09-300001704720us-gaap:FairValueInputsLevel1Member2021-09-300001704720us-gaap:FairValueInputsLevel2Member2021-09-300001704720us-gaap:FairValueInputsLevel3Member2021-09-300001704720us-gaap:FairValueInputsLevel1Membercnne:BackstopAgreementsMember2021-09-300001704720cnne:BackstopAgreementsMemberus-gaap:FairValueInputsLevel2Member2021-09-300001704720cnne:BackstopAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-09-300001704720cnne:BackstopAgreementsMember2021-09-300001704720cnne:PaysafeWarrantsMemberus-gaap:FairValueInputsLevel1Member2021-09-300001704720cnne:PaysafeWarrantsMemberus-gaap:FairValueInputsLevel2Member2021-09-300001704720cnne:PaysafeWarrantsMemberus-gaap:FairValueInputsLevel3Member2021-09-300001704720cnne:PaysafeWarrantsMember2021-09-300001704720cnne:AlightWarrantsMemberus-gaap:FairValueInputsLevel1Member2021-09-300001704720cnne:AlightWarrantsMemberus-gaap:FairValueInputsLevel2Member2021-09-300001704720cnne:AlightWarrantsMemberus-gaap:FairValueInputsLevel3Member2021-09-300001704720cnne:AlightWarrantsMember2021-09-300001704720us-gaap:FairValueInputsLevel1Membercnne:AusterlitzIIWarrantsMember2021-09-300001704720cnne:AusterlitzIIWarrantsMemberus-gaap:FairValueInputsLevel2Member2021-09-300001704720cnne:AusterlitzIIWarrantsMemberus-gaap:FairValueInputsLevel3Member2021-09-300001704720cnne:AusterlitzIIWarrantsMember2021-09-300001704720us-gaap:FairValueInputsLevel1Membercnne:AusterlitzIIForwardPurchaseAgreementsMember2021-09-300001704720cnne:AusterlitzIIForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel2Member2021-09-300001704720cnne:AusterlitzIIForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-09-300001704720cnne:AusterlitzIIForwardPurchaseAgreementsMember2021-09-300001704720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2020-12-310001704720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2020-12-310001704720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-12-310001704720us-gaap:CorporateDebtSecuritiesMember2020-12-310001704720cnne:CeridianMemberus-gaap:FairValueInputsLevel1Member2020-12-310001704720cnne:CeridianMemberus-gaap:FairValueInputsLevel2Member2020-12-310001704720cnne:CeridianMemberus-gaap:FairValueInputsLevel3Member2020-12-310001704720cnne:CeridianMember2020-12-310001704720cnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel1Member2020-12-310001704720cnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel2Member2020-12-310001704720cnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2020-12-310001704720cnne:ForwardPurchaseAgreementsMember2020-12-310001704720cnne:PaysafeSubscriptionAgreementPurchaseOfCommonStockMemberus-gaap:FairValueInputsLevel1Member2020-12-310001704720cnne:PaysafeSubscriptionAgreementPurchaseOfCommonStockMemberus-gaap:FairValueInputsLevel2Member2020-12-310001704720cnne:PaysafeSubscriptionAgreementPurchaseOfCommonStockMemberus-gaap:FairValueInputsLevel3Member2020-12-310001704720cnne:PaysafeSubscriptionAgreementPurchaseOfCommonStockMember2020-12-310001704720cnne:OtherMemberus-gaap:FairValueInputsLevel1Member2020-12-310001704720cnne:OtherMemberus-gaap:FairValueInputsLevel2Member2020-12-310001704720cnne:OtherMemberus-gaap:FairValueInputsLevel3Member2020-12-310001704720cnne:OtherMember2020-12-310001704720us-gaap:FairValueInputsLevel1Member2020-12-310001704720us-gaap:FairValueInputsLevel2Member2020-12-310001704720us-gaap:FairValueInputsLevel3Member2020-12-310001704720cnne:FoleyTrasimeneAcquisitionCorpIIMember2021-01-012021-09-300001704720us-gaap:CommonStockMembercnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-06-300001704720us-gaap:CommonStockMembercnne:SubscriptionAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-06-300001704720cnne:AusterlitzIIWarrantsMemberus-gaap:FairValueInputsLevel3Member2021-06-300001704720us-gaap:FairValueInputsLevel3Member2021-06-300001704720us-gaap:CommonStockMembercnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-07-012021-09-300001704720us-gaap:CommonStockMembercnne:SubscriptionAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-07-012021-09-300001704720cnne:AusterlitzIIWarrantsMemberus-gaap:FairValueInputsLevel3Member2021-07-012021-09-300001704720us-gaap:FairValueInputsLevel3Member2021-07-012021-09-300001704720us-gaap:CommonStockMemberus-gaap:EquityMethodInvestmentsMembercnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-07-012021-09-300001704720us-gaap:CommonStockMemberus-gaap:EquityMethodInvestmentsMembercnne:SubscriptionAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-07-012021-09-300001704720us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueInputsLevel3Member2021-07-012021-09-300001704720us-gaap:CommonStockMembercnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-09-300001704720us-gaap:CommonStockMembercnne:SubscriptionAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-09-300001704720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-06-300001704720us-gaap:CommonStockMembercnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2020-06-300001704720us-gaap:FairValueInputsLevel3Member2020-06-300001704720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-07-012020-09-300001704720us-gaap:CommonStockMembercnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2020-07-012020-09-300001704720us-gaap:FairValueInputsLevel3Member2020-07-012020-09-300001704720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-09-300001704720us-gaap:CommonStockMembercnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2020-09-300001704720us-gaap:FairValueInputsLevel3Member2020-09-300001704720us-gaap:CommonStockMembercnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2020-12-310001704720us-gaap:CommonStockMembercnne:SubscriptionAgreementsMemberus-gaap:FairValueInputsLevel3Member2020-12-310001704720cnne:AusterlitzIIWarrantsMemberus-gaap:FairValueInputsLevel3Member2020-12-310001704720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-09-300001704720us-gaap:CommonStockMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-09-300001704720us-gaap:FairValueInputsLevel3Member2021-01-012021-09-300001704720us-gaap:CommonStockMembercnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-09-300001704720us-gaap:CommonStockMembercnne:SubscriptionAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-09-300001704720cnne:AusterlitzIIWarrantsMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-09-300001704720us-gaap:EquityMethodInvestmentsMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-09-300001704720us-gaap:CommonStockMemberus-gaap:EquityMethodInvestmentsMembercnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-09-300001704720us-gaap:CommonStockMemberus-gaap:EquityMethodInvestmentsMembercnne:SubscriptionAgreementsMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-09-300001704720us-gaap:EquityMethodInvestmentsMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-09-300001704720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-09-300001704720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2019-12-310001704720us-gaap:CommonStockMembercnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2019-12-310001704720us-gaap:FairValueInputsLevel3Member2019-12-310001704720us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-09-300001704720us-gaap:CommonStockMembercnne:ForwardPurchaseAgreementsMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-09-300001704720us-gaap:FairValueInputsLevel3Member2020-01-012020-09-300001704720cnne:DunAndBradstreetCorporationMember2021-09-300001704720cnne:DunAndBradstreetCorporationMember2020-12-310001704720cnne:AlightIncAndFTACSponsorMember2021-09-300001704720cnne:AlightIncAndFTACSponsorMember2020-12-310001704720cnne:PaysafeMember2020-12-310001704720cnne:OptimalBlueMember2021-09-300001704720cnne:OptimalBlueMember2020-12-310001704720cnne:AmeriLifeJointVentureMember2021-09-300001704720cnne:AmeriLifeJointVentureMember2020-12-310001704720cnne:SightlinePaymentsLLCMember2021-09-300001704720cnne:SightlinePaymentsLLCMember2020-12-310001704720cnne:OtherInvestmentsInUnconsolidatedAffiliatesMember2021-09-300001704720cnne:OtherInvestmentsInUnconsolidatedAffiliatesMember2020-12-310001704720cnne:DunAndBradstreetCorporationMember2021-07-012021-09-300001704720cnne:DunAndBradstreetCorporationMember2020-07-012020-09-300001704720cnne:PaysafeFTACIISponsorMember2021-07-012021-09-300001704720cnne:PaysafeFTACIISponsorMember2020-07-012020-09-300001704720cnne:PaysafeFTACIISponsorMember2021-01-012021-09-300001704720cnne:PaysafeFTACIISponsorMember2020-01-012020-09-300001704720cnne:AlightIncAndFTACSponsorMember2021-07-012021-09-300001704720cnne:AlightIncAndFTACSponsorMember2020-07-012020-09-300001704720cnne:AlightIncAndFTACSponsorMember2021-01-012021-09-300001704720cnne:AlightIncAndFTACSponsorMember2020-01-012020-09-300001704720cnne:CeridianMember2021-07-012021-09-300001704720cnne:CeridianMember2020-07-012020-09-300001704720cnne:OptimalBlueMember2021-07-012021-09-300001704720cnne:OptimalBlueMember2020-07-012020-09-300001704720cnne:SenatorFocusedStrategiesMember2021-07-012021-09-300001704720cnne:SenatorFocusedStrategiesMember2020-07-012020-09-300001704720cnne:SenatorFocusedStrategiesMember2021-01-012021-09-300001704720cnne:SenatorFocusedStrategiesMember2020-01-012020-09-300001704720cnne:AmeriLifeJointVentureMember2021-07-012021-09-300001704720cnne:AmeriLifeJointVentureMember2020-07-012020-09-300001704720cnne:AmeriLifeJointVentureMember2021-01-012021-09-300001704720cnne:AmeriLifeJointVentureMember2020-01-012020-09-300001704720cnne:SightlinePaymentsLLCMember2021-07-012021-09-300001704720cnne:SightlinePaymentsLLCMember2020-07-012020-09-300001704720cnne:OtherInvestmentsInUnconsolidatedAffiliatesMember2021-07-012021-09-300001704720cnne:OtherInvestmentsInUnconsolidatedAffiliatesMember2020-07-012020-09-300001704720cnne:EquitySponsorsMembercnne:DunAndBradstreetCorporationMember2021-09-300001704720cnne:DunAndBradstreetCorporationMember2021-09-300001704720cnne:DunAndBradstreetCorporationMember2020-12-310001704720cnne:DunAndBradstreetCorporationMember2021-07-012021-09-300001704720cnne:DunAndBradstreetCorporationMember2020-07-012020-09-300001704720cnne:DunAndBradstreetCorporationMember2021-01-012021-09-300001704720cnne:DunAndBradstreetCorporationMember2020-01-012020-09-3000017047202020-09-152020-09-150001704720cnne:OptimalBlueMember2021-09-300001704720cnne:OptimalBlueMember2020-12-310001704720cnne:OptimalBlueMember2021-07-012021-09-300001704720cnne:OptimalBlueMember2020-09-152020-09-300001704720cnne:OptimalBlueMember2021-01-012021-09-300001704720cnne:PaysafeMember2021-07-012021-09-300001704720cnne:PaysafeMember2021-06-300001704720cnne:PaysafeMember2021-04-012021-06-300001704720cnne:AmeriLifeJointVentureMember2020-03-182020-03-180001704720cnne:AmeriLifeJointVentureMember2021-06-300001704720cnne:AmeriLifeJointVentureMember2020-12-310001704720cnne:AmeriLifeJointVentureMember2021-04-012021-06-300001704720cnne:AmeriLifeJointVentureMember2020-04-012020-06-300001704720cnne:AmeriLifeJointVentureMember2021-01-012021-06-300001704720cnne:AmeriLifeJointVentureMember2020-03-182020-06-300001704720us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CorporateDebtSecuritiesMember2020-12-310001704720us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-310001704720cnne:QOMPLXInc.Member2021-09-300001704720us-gaap:EquityMethodInvestmentsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2021-09-300001704720us-gaap:EquityMethodInvestmentsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2020-12-310001704720us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMembercnne:PaysafeSubscriptionAgreementPurchaseOfCommonStockMember2021-09-300001704720us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMembercnne:PaysafeSubscriptionAgreementPurchaseOfCommonStockMember2020-12-310001704720cnne:ForwardPurchaseAgreementsAndSubscriptionAgreementsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2021-09-300001704720cnne:ForwardPurchaseAgreementsAndSubscriptionAgreementsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2020-12-310001704720cnne:BackstopAgreementsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2021-09-300001704720cnne:BackstopAgreementsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2020-12-310001704720cnne:A99TermLoanMemberus-gaap:NotesPayableToBanksMember2021-09-300001704720cnne:A99TermLoanMemberus-gaap:NotesPayableToBanksMember2020-12-310001704720cnne:A99RestaurantsCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2021-09-300001704720cnne:A99RestaurantsCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2020-12-310001704720cnne:A2020MarginFacilityMemberus-gaap:RevolvingCreditFacilityMember2021-09-300001704720cnne:A2020MarginFacilityMemberus-gaap:RevolvingCreditFacilityMember2020-12-310001704720us-gaap:RevolvingCreditFacilityMembercnne:CorporateRevolverNoteMember2021-09-300001704720us-gaap:RevolvingCreditFacilityMembercnne:CorporateRevolverNoteMember2020-12-310001704720cnne:BrasadaCreditAgreementMemberus-gaap:NotesPayableToBanksMember2021-09-300001704720cnne:BrasadaCreditAgreementMemberus-gaap:NotesPayableToBanksMember2020-12-310001704720us-gaap:NotesPayableOtherPayablesMembercnne:OtherNotesPayableMember2021-09-300001704720us-gaap:NotesPayableOtherPayablesMembercnne:OtherNotesPayableMember2020-12-310001704720cnne:A2020MarginFacilityMemberus-gaap:RevolvingCreditFacilityMember2020-11-300001704720cnne:CeridianMembercnne:A2020MarginFacilityMemberus-gaap:SeniorLienMember2020-11-300001704720cnne:DunAndBradstreetCorporationMembercnne:A2020MarginFacilityMemberus-gaap:SeniorLienMember2020-11-300001704720cnne:CeridianMembercnne:A2020MarginFacilityMemberus-gaap:SeniorLienMember2020-11-302020-11-300001704720cnne:DunAndBradstreetCorporationMembercnne:A2020MarginFacilityMemberus-gaap:SeniorLienMember2020-11-302020-11-300001704720cnne:A2020MarginFacilityMemberus-gaap:RevolvingCreditFacilityMember2021-08-162021-08-160001704720cnne:CeridianMembercnne:A2020MarginFacilityMemberus-gaap:SeniorLienMember2021-08-162021-08-160001704720us-gaap:SubsequentEventMembercnne:A2020MarginFacilityMemberus-gaap:RevolvingCreditFacilityMember2021-10-012021-10-310001704720cnne:NinetyNineRestaurantsMembercnne:A99RestaurantsCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2018-12-210001704720cnne:NinetyNineRestaurantsMembercnne:A99TermLoanMember2018-12-210001704720cnne:NinetyNineRestaurantsMembercnne:DevelopmentLineOfCreditLoanMemberus-gaap:LineOfCreditMember2018-12-210001704720cnne:NinetyNineRestaurantsMembercnne:A99RestaurantsCreditFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:BaseRateMember2018-12-212018-12-210001704720cnne:NinetyNineRestaurantsMembercnne:A99RestaurantsCreditFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMember2018-12-212018-12-210001704720cnne:NinetyNineRestaurantsMembercnne:A99RestaurantsCreditFacilityMemberus-gaap:LetterOfCreditMember2018-12-210001704720cnne:NinetyNineRestaurantsMembercnne:A99RestaurantsCreditFacilityMembercnne:FifthThirdBankMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:BridgeLoanMember2018-12-210001704720cnne:NinetyNineRestaurantsMembercnne:A99RestaurantsCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2020-11-012020-12-310001704720cnne:NinetyNineRestaurantsMembercnne:A99RestaurantsCreditFacilityMemberus-gaap:RevolvingCreditFacilityMembersrt:ScenarioForecastMember2021-01-012021-12-310001704720cnne:NinetyNineRestaurantsMembercnne:A99RestaurantsCreditFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-12-012020-12-010001704720cnne:NinetyNineRestaurantsMembercnne:A99RestaurantsCreditFacilityMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:BaseRateMember2020-12-012020-12-010001704720cnne:NinetyNineRestaurantsMembercnne:A99RestaurantsCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2021-09-300001704720cnne:FNFNVBrasadaLLCMembercnne:BrasadaCreditAgreementMember2016-01-290001704720cnne:FNFNVBrasadaLLCMembercnne:NotesPayableToBanksAcquisitionLoanMembercnne:BrasadaCreditAgreementMember2016-01-290001704720cnne:FNFNVBrasadaLLCMemberus-gaap:LineOfCreditMembercnne:NotesPayableToBanksAcquisitionLoanCNoteMembercnne:BrasadaCreditAgreementMember2018-06-130001704720cnne:FNFNVBrasadaLLCMembercnne:NotesPayableToBanksAcquisitionLoanANoteMembercnne:BrasadaCreditAgreementMember2018-06-130001704720cnne:FNFNVBrasadaLLCMembercnne:NotesPayableToBanksAcquisitionLoanBNoteMembercnne:BrasadaCreditAgreementMember2018-06-130001704720cnne:FNFNVBrasadaLLCMembercnne:NotesPayableToBanksAcquisitionLoanBNoteMemberus-gaap:LondonInterbankOfferedRateLIBORMembercnne:BrasadaCreditAgreementMember2018-06-132018-06-130001704720cnne:FNFNVBrasadaLLCMembercnne:NotesPayableToBanksAcquisitionLoanMembercnne:BrasadaCreditAgreementMember2021-09-300001704720us-gaap:RevolvingCreditFacilityMembercnne:CorporateRevolverNoteMember2017-11-170001704720us-gaap:RevolvingCreditFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMembercnne:CorporateRevolverNoteMember2017-11-172017-11-170001704720us-gaap:RevolvingCreditFacilityMembercnne:CorporateRevolverNoteMember2017-11-172017-11-17cnne:restaurantcnne:director00017047202021-02-180001704720cnne:RestaurantSalesMembercnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001704720cnne:RestaurantSalesMembercnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001704720cnne:RestaurantSalesMemberus-gaap:OperatingSegmentsMembercnne:PaysafeMember2021-07-012021-09-300001704720cnne:RestaurantSalesMembercnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001704720cnne:RestaurantSalesMemberus-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2021-07-012021-09-300001704720us-gaap:CorporateAndOtherMembercnne:RestaurantSalesMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001704720cnne:RestaurantSalesMemberus-gaap:IntersegmentEliminationMember2021-07-012021-09-300001704720cnne:TotalOtherOperatingRevenueMembercnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001704720cnne:TotalOtherOperatingRevenueMembercnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:OperatingSegmentsMembercnne:PaysafeMember2021-07-012021-09-300001704720cnne:TotalOtherOperatingRevenueMembercnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2021-07-012021-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:CorporateAndOtherMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:IntersegmentEliminationMember2021-07-012021-09-300001704720cnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001704720cnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001704720us-gaap:OperatingSegmentsMembercnne:PaysafeMember2021-07-012021-09-300001704720cnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001704720us-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2021-07-012021-09-300001704720us-gaap:CorporateAndOtherMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001704720us-gaap:IntersegmentEliminationMember2021-07-012021-09-300001704720cnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2021-09-300001704720cnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2021-09-300001704720us-gaap:OperatingSegmentsMembercnne:PaysafeMember2021-09-300001704720cnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2021-09-300001704720us-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2021-09-300001704720us-gaap:CorporateAndOtherMemberus-gaap:OperatingSegmentsMember2021-09-300001704720us-gaap:IntersegmentEliminationMember2021-09-300001704720cnne:RestaurantSalesMembercnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001704720cnne:RestaurantSalesMembercnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001704720cnne:RestaurantSalesMembercnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001704720cnne:RestaurantSalesMemberus-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2020-07-012020-09-300001704720us-gaap:CorporateAndOtherMembercnne:RestaurantSalesMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001704720cnne:RestaurantSalesMemberus-gaap:IntersegmentEliminationMember2020-07-012020-09-300001704720cnne:TotalOtherOperatingRevenueMembercnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001704720cnne:TotalOtherOperatingRevenueMembercnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001704720cnne:TotalOtherOperatingRevenueMembercnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2020-07-012020-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:CorporateAndOtherMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:IntersegmentEliminationMember2020-07-012020-09-300001704720cnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001704720cnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001704720cnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001704720us-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2020-07-012020-09-300001704720us-gaap:CorporateAndOtherMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300001704720us-gaap:IntersegmentEliminationMember2020-07-012020-09-300001704720cnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2020-09-300001704720cnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2020-09-300001704720cnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2020-09-300001704720us-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2020-09-300001704720us-gaap:CorporateAndOtherMemberus-gaap:OperatingSegmentsMember2020-09-300001704720us-gaap:IntersegmentEliminationMember2020-09-300001704720cnne:RestaurantSalesMembercnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001704720cnne:RestaurantSalesMembercnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001704720cnne:RestaurantSalesMemberus-gaap:OperatingSegmentsMembercnne:PaysafeMember2021-01-012021-09-300001704720cnne:RestaurantSalesMembercnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001704720cnne:RestaurantSalesMemberus-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2021-01-012021-09-300001704720us-gaap:CorporateAndOtherMembercnne:RestaurantSalesMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001704720cnne:RestaurantSalesMemberus-gaap:IntersegmentEliminationMember2021-01-012021-09-300001704720cnne:TotalOtherOperatingRevenueMembercnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001704720cnne:TotalOtherOperatingRevenueMembercnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:OperatingSegmentsMembercnne:PaysafeMember2021-01-012021-09-300001704720cnne:TotalOtherOperatingRevenueMembercnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2021-01-012021-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:CorporateAndOtherMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:IntersegmentEliminationMember2021-01-012021-09-300001704720cnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001704720cnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001704720us-gaap:OperatingSegmentsMembercnne:PaysafeMember2021-01-012021-09-300001704720cnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001704720us-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2021-01-012021-09-300001704720us-gaap:CorporateAndOtherMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001704720us-gaap:IntersegmentEliminationMember2021-01-012021-09-300001704720cnne:RestaurantSalesMembercnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001704720cnne:RestaurantSalesMembercnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001704720cnne:RestaurantSalesMembercnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001704720cnne:RestaurantSalesMemberus-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2020-01-012020-09-300001704720us-gaap:CorporateAndOtherMembercnne:RestaurantSalesMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001704720cnne:RestaurantSalesMemberus-gaap:IntersegmentEliminationMember2020-01-012020-09-300001704720cnne:TotalOtherOperatingRevenueMembercnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001704720cnne:TotalOtherOperatingRevenueMembercnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001704720cnne:TotalOtherOperatingRevenueMembercnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2020-01-012020-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:CorporateAndOtherMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001704720cnne:TotalOtherOperatingRevenueMemberus-gaap:IntersegmentEliminationMember2020-01-012020-09-300001704720cnne:RestaurantGroupMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001704720cnne:DunAndBradstreetCorporationMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001704720cnne:OptimalBlueMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001704720us-gaap:OperatingSegmentsMembercnne:AmeriLifeMember2020-01-012020-09-300001704720us-gaap:CorporateAndOtherMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300001704720us-gaap:IntersegmentEliminationMember2020-01-012020-09-300001704720cnne:OCharleysMember2021-09-300001704720cnne:NinetyNineRestaurantsMember2021-09-30cnne:businessRecord
Table of Contents

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2021

OR
 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File Number 1-38300
CANNAE HOLDINGS, INC.
______________________________________________________________________________________________________________________________________________________
(Exact name of registrant as specified in its charter)
Delaware82-1273460
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification Number)
   
1701 Village Center Circle,Las Vegas,Nevada89134
(Address of principal executive offices)(Zip Code)
(702) 323-7330
___________________________________________________________________
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol Name of Each Exchange on Which Registered
Cannae Common Stock, $0.0001 par valueCNNE New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes NO
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes NO
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer," “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
Large Accelerated FilerAccelerated filerNon-accelerated filerSmaller reporting companyEmerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES NO
As of October 29, 2021 there were 88,912,864 shares of the Registrant's common stock outstanding.



FORM 10-Q
QUARTERLY REPORT
Quarter Ended September 30, 2021
TABLE OF CONTENTS
  
 Page
 
 
 
i

Table of Contents

Part I: FINANCIAL INFORMATION

Item 1.    Condensed Consolidated Financial Statements

CANNAE HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)
 September 30,
2021
December 31,
2020
ASSETS
Current assets:  
Cash and cash equivalents$234.2 $724.7 
Fixed maturity securities available for sale, at fair value 35.2 
Other current assets91.8 84.3 
Total current assets326.0 844.2 
Equity securities, at fair value1,241.7 1,799.1 
Investments in unconsolidated affiliates2,268.2 1,453.0 
Lease assets177.2 202.3 
Property and equipment, net99.7 145.8 
Other intangible assets, net27.8 51.8 
Goodwill53.4 53.4 
Other long term investments and non-current assets119.5 63.8 
Total assets$4,313.5 $4,613.4 
LIABILITIES AND EQUITY
Current liabilities: 
Accounts payable and other accrued liabilities, current$92.8 $93.2 
Lease liabilities, current23.8 26.2 
Income taxes payable38.0 47.4 
Deferred revenue14.6 23.9 
Notes payable, current7.4 11.3 
Total current liabilities176.6 202.0 
Lease liabilities, long term169.3 195.6 
Deferred tax liability190.1 325.3 
Notes payable, long term220.4 52.2 
Accounts payable and other accrued liabilities, long term49.3 53.1 
Total liabilities805.7 828.2 
Commitments and contingencies - see Note G
Equity: 
Cannae common stock, 0.0001 par value; authorized 115,000,000 shares as of September 30, 2021 and December 31, 2020; outstanding of 88,912,864 and 91,651,257 shares as of September 30, 2021 and December 31, 2020, respectively, and issued of 92,381,740 and 92,391,965 shares as of September 30, 2021 and December 31, 2020, respectively
  
Preferred stock, 0.0001 par value; authorized 10,000,000 shares; issued and outstanding, none as of September 30, 2021 and December 31, 2020
  
Retained earnings1,752.1 1,929.8 
Additional paid-in capital1,883.7 1,875.8 
Less: Treasury stock, 3,468,876 and 740,708 shares as of September 30, 2021 and December 31, 2020, respectively, at cost
(117.6)(21.1)
Accumulated other comprehensive loss(18.8)(4.9)
Total Cannae shareholders' equity3,499.4 3,779.6 
Noncontrolling interests8.4 5.6 
Total equity3,507.8 3,785.2 
Total liabilities and equity$4,313.5 $4,613.4 
See Notes to Condensed Consolidated Financial Statements
1

Table of Contents

CANNAE HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
(Unaudited)
Three months ended September 30,Nine months ended September 30,
 2021202020212020
Revenues:
Restaurant revenue$175.1 $129.4 $532.3 $398.7 
Other operating revenue10.9 10.3 28.0 16.6 
Total operating revenues186.0 139.7 560.3 415.3 
Operating expenses:
Cost of restaurant revenue154.8 121.7 462.8 375.6 
Personnel costs21.9 16.7 58.3 69.2 
Depreciation and amortization6.3 6.5 20.6 22.2 
Other operating expenses27.8 23.2 115.6 68.0 
Goodwill impairment   7.7 
Total operating expenses210.8 168.1 657.3 542.7 
Operating loss(24.8)(28.4)(97.0)(127.4)
Other income (expense):
Interest, investment and other income18.7 4.7 20.1 15.2 
Interest expense(2.3)(1.6)(6.9)(6.4)
Recognized (losses) gains, net(186.2)189.6 (224.7)1,682.8 
Total other (expense) income(169.8)192.7 (211.5)1,691.6 
(Loss) earnings before income taxes and equity in earnings (losses) of unconsolidated affiliates(194.6)164.3 (308.5)1,564.2 
Income tax (benefit) expense(34.7)35.1 (47.4)335.6 
(Loss) earnings before equity in earnings (losses) of unconsolidated affiliates(159.9)129.2 (261.1)1,228.6 
Equity in earnings (losses) of unconsolidated affiliates41.4 (1.2)86.5 3.6 
Net (loss) earnings(118.5)128.0 (174.6)1,232.2 
Less: Net earnings (loss) attributable to non-controlling interests2.5 (3.9)3.1 (22.7)
Net (loss) earnings attributable to Cannae Holdings, Inc. common shareholders$(121.0)$131.9 $(177.7)$1,254.9 
Earnings per share
Basic
Net (loss) earnings per share $(1.36)$1.44 $(1.97)$14.97 
Diluted
Net (loss) earnings per share$(1.36)$1.44 $(1.97)$14.94 
Weighted Average Shares Outstanding
Weighted average shares outstanding Cannae Holdings common stock, basic basis88.8 91.3 90.3 83.8 
Weighted average shares outstanding Cannae Holdings common stock, diluted basis88.9 91.6 90.4 84.0 
See Notes to Condensed Consolidated Financial Statements
2

Table of Contents

CANNAE HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS)
(In millions)
(Unaudited)
 Three months ended September 30,Nine months ended September 30,
 2021202020212020
Net (loss) earnings$(118.5)$128.0 $(174.6)$1,232.2 
Other comprehensive earnings (loss), net of tax:    
Unrealized gain on investments and other financial instruments, net (excluding investments in unconsolidated affiliates) (1) 0.3 0.5 11.5 
Unrealized (losses) gains of investments in unconsolidated affiliates (2)(3.0)4.8 (5.7)(1.7)
Reclassification adjustments for unrealized gains and losses on investments and other financial instruments, net of tax, (excluding investments in unconsolidated affiliates) included in net earnings (3)  (10.9) 
Reclassification adjustments for unrealized gains and losses of unconsolidated affiliates, net of tax, included in net earnings (4) 1.8 2.2 46.2 
Other comprehensive (loss) earnings(3.0)6.9 (13.9)56.0 
Comprehensive (loss) earnings(121.5)134.9 (188.5)1,288.2 
Less: Comprehensive earnings (loss) attributable to noncontrolling interests2.5 (3.9)3.1 (22.7)
Comprehensive (loss) earnings attributable to Cannae Holdings, Inc. common shareholders$(124.0)$138.8 $(191.6)$1,310.9 
_________________________________
 
(1)Net of income tax expense of $0.1 million for the three months ended September 30, 2020, and $0.1 million and $3.1 million for the nine months ended September 30, 2021 and 2020, respectively.
(2)Net of income tax (benefit) expense of $(0.8) million and $1.3 million for the three months ended September 30, 2021 and 2020, respectively, and $(1.5) million and $(0.4) million for the nine months ended September 30, 2021 and 2020, respectively.
(3)Net of income tax benefit of $2.9 million for the three and nine months ended September 30, 2021.
(4)Net of income tax expense of $0.5 million for the three months ended September 30, 2020, and $0.6 million and $12.3 million for the nine months ended September 30, 2021 and 2020, respectively.
    
See Notes to Condensed Consolidated Financial Statements



3

Table of Contents

CANNAE HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
(In millions)
(Unaudited)

 Common StockAdditional Paid-in CapitalRetained EarningsAccumulated Other Comp (Loss) EarningsTreasury StockNon-controlling
Interests
Total
Equity
 Shares$Shares$
 
Balance, June 30, 202092.4 $ $1,868.4 $1,266.6 $3.2 0.7 $(20.3)$15.9 $3,133.8 
Other comprehensive earnings — unrealized gain on investments and other financial instruments, net of tax— — — — 0.3 — — — 0.3 
Other comprehensive earnings — unrealized losses of investments in unconsolidated affiliates, net of tax— — — — 4.8 — — — 4.8 
Reclassification adjustments for unrealized gains and losses on unconsolidated affiliates, net of tax, included in net earnings— — — — 1.8 — — — 1.8 
Stock-based compensation, consolidated subsidiaries— — 1.2 — — — — — 1.2 
Contribution of CSA services from FNF— — 0.3 — — — — — 0.3 
Stock-based compensation, unconsolidated affiliates— — 1.8 — — — — — 1.8 
Net earnings (loss)— — — 131.9 — — — (3.9)128.0 
Balance, September 30, 2020
92.4 $ $1,871.7 $1,398.5 $10.1 0.7 $(20.3)$12.0 $3,272.0 
Balance, June 30, 202192.4 $ $1,880.8 $1,873.1 $(15.8)3.2 $(110.8)$6.2 $3,633.5 
Other comprehensive earnings — unrealized losses of investments in unconsolidated affiliates, net of tax— — — — (3.0)— — — (3.0)
Treasury stock repurchases— — — — — 0.2 (6.8)— (6.8)
Stock-based compensation, consolidated subsidiaries— — 0.6 — — — — — 0.6 
Stock-based compensation, unconsolidated affiliates— — 2.3 — — — — — 2.3 
Subsidiary dividends paid to noncontrolling interests— — — — — — — (0.3)(0.3)
Net (loss) earnings— — — (121.0)— — — 2.5 (118.5)
Balance, September 30, 2021
92.4 $ $1,883.7 $1,752.1 $(18.8)3.4 $(117.6)$8.4 $3,507.8 

See Notes to Condensed Consolidated Financial Statements






















4

Table of Contents

CANNAE HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY- CONTINUED
(In millions)
(Unaudited)

 Common StockAdditional Paid-in CapitalRetained EarningsAccumulated Other Comp (Loss) EarningsTreasury StockNon-controlling
Interests
Total
Equity
 Shares$Shares$
 
Balance, December 31, 2019
79.7 $ $1,396.7 $143.6 $(45.9)0.2 $(5.9)$41.3 $1,529.8 
Equity offering, net of offering costs12.7 — 455.0 — — — — — 455.0 
Other comprehensive earnings — unrealized gain on investments and other financial instruments, net of tax— — — — 11.5 — — — 11.5 
Other comprehensive earnings — unrealized losses of investments in unconsolidated affiliates, net of tax— — — — (1.7)— — — (1.7)
Reclassification adjustments for unrealized gains and losses on unconsolidated affiliates, net of tax, included in net earnings— — — — 46.2 — — — 46.2 
Restaurant Group reorganization and deconsolidation of Legendary Baking and VIBSQ— — 5.2 — — — — (10.3)(5.1)
Sale of noncontrolling interest in consolidated subsidiary— — — — — — — 3.7 3.7 
Treasury stock repurchases— — — — — 0.5 (14.4)— (14.4)
Stock-based compensation, consolidated subsidiaries— — 3.3 — — — — — 3.3 
Contribution of CSA services from FNF— — 1.1 — — — — — 1.1 
Stock-based compensation, unconsolidated affiliates— — 10.4 — — — — — 10.4 
Net earnings (loss)— — — 1,254.9 — — — (22.7)1,232.2 
Balance, September 30, 2020
92.4 $ $1,871.7 $1,398.5 $10.1 0.7 $(20.3)$12.0 $3,272.0 
Balance, December 31, 2020
92.4 $ $1,875.8 $1,929.8 $(4.9)0.7 $(21.1)$5.6 $3,785.2 
Other comprehensive earnings — unrealized gain on investments and other financial instruments, net of tax— — — — 0.5 — — — 0.5 
Other comprehensive earnings — unrealized losses of investments in unconsolidated affiliates, net of tax— — — — (5.7)— — — (5.7)
Reclassification adjustments for unrealized gains and losses on investments and other financial instruments, net of tax, (excluding investments in unconsolidated affiliates) included in net earnings — — — — (10.9)— — — (10.9)
Reclassification adjustments for unrealized gains and losses on unconsolidated affiliates, net of tax, included in net loss — — — — 2.2 — — — 2.2 
Treasury stock repurchases— — — — — 2.7 (96.5)— (96.5)
Stock-based compensation, consolidated subsidiaries— — 2.0 — — — — — 2.0 
Stock-based compensation, unconsolidated affiliates— — 5.9 — — — — — 5.9 
Subsidiary dividends paid to noncontrolling interests— — — — — — — (0.3)(0.3)
Net (loss) earnings— — — (177.7)— — — 3.1 (174.6)
Balance, September 30, 2021
92.4 $ $1,883.7 $1,752.1 $(18.8)3.4 $(117.6)$8.4 $3,507.8 

See Notes to Condensed Consolidated Financial Statements


5

Table of Contents

CANNAE HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
 Nine months ended September 30,
 
 20212020
 
Cash flows from operating activities:
Net (loss) earnings$(174.6)$1,232.2 
Adjustments to reconcile net (loss) earnings to net cash used in operating activities:
            Depreciation and amortization20.6 22.2 
            Equity in earnings of unconsolidated affiliates(86.5)(3.6)
            Distributions from investments in unconsolidated affiliates5.4 0.5 
            Recognized losses (gains) and asset impairments, net 225.0 (1,669.7)
            Lease asset amortization15.8 17.4 
            Stock-based compensation cost2.0 3.3 
Changes in assets and liabilities, net of effects from acquisitions:
Net decrease (increase) in other assets22.6 (29.9)
Net decrease in lease liabilities(18.9)(22.3)
Net (decrease) increase in accounts payable, accrued liabilities, deferred revenue and other liabilities(11.6)17.4 
Net change in income taxes(141.4)241.6 
Net cash used in operating activities(141.6)(190.9)
Cash flows from investing activities:  
Proceeds from partial sale of Ceridian shares 275.0 522.0 
Proceeds from partial sale of D&B shares186.0  
Additions to property and equipment and other intangible assets(7.7)(18.3)
Collections of notes receivable2.8  
Additions to notes receivable(18.6)(28.9)
Proceeds from sales of property and equipment10.3  
Proceeds from sale of other investments in unconsolidated affiliates and other long term investments18.5  
Investment in Dun & Bradstreet (200.0)
Investment in Optimal Blue (289.0)
Investments in Paysafe, net of subscription fees earned(494.4) 
Investments in Alight, net of subscription fees earned(446.3) 
Investments in Sightline(272.0) 
Purchase of warrants of Austerlitz II(29.6) 
Additional investments in unconsolidated affiliates(8.5)(311.5)
Cash proceeds from settlement of fixed maturity securities and equity in Colt38.7  
Cash proceeds from sales of VIBSQ, Legendary Baking, and RCI28.2  
Purchases of other long term investments(4.0) 
Cash deconsolidated through the Blue Ribbon Reorganization (1.1)
Distributions from investments in unconsolidated affiliates281.3 1.6 
Net purchases of short-term investment securities 0.5 
Net other investing activities2.6 0.8 
Net cash used in investing activities(437.7)(323.9)
Cash flows from financing activities:  
Borrowings206.5 37.0 
Debt service payments(21.2)(94.3)
Sale of noncontrolling interest in consolidated subsidiary 3.7 
Proceeds from equity offering, net of offering costs 455.0 
Treasury stock repurchases(96.5)(14.4)
Net cash provided by financing activities88.8 387.0 
Net decrease in cash and cash equivalents(490.5)(127.8)
Cash and cash equivalents at beginning of period724.7 533.7 
Cash and cash equivalents at end of period$234.2 $405.9 
See Notes to Condensed Consolidated Financial Statements
6

Table of Contents

CANNAE HOLDINGS, INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Note A — Basis of Financial Statements
The following describes the significant accounting policies of Cannae Holdings, Inc. and its subsidiaries (collectively, “we,” “us,” “our,” "Cannae," "CNNE," or the "Company”), which have been followed in preparing the accompanying Condensed Consolidated Financial Statements.
Description of the Business
We are engaged in actively managing and operating a group of companies and investments, as well as making additional majority and minority equity portfolio investments in businesses, in order to achieve superior financial performance and maximize the value of these assets. Our primary investments as of September 30, 2021 include our minority ownership interests in Dun & Bradstreet Holdings, Inc. ("Dun & Bradstreet" or "D&B"), Ceridian HCM Holding, Inc. ("Ceridian"), Paysafe Limited ("Paysafe"), Alight, Inc. ("Alight"), Optimal Blue Holdco, LLC ("Optimal Blue"), Sightline Payments Holdings, LLC ("Sightline") and AmeriLife Group, LLC ("AmeriLife"); majority equity ownership stakes in O'Charley's Holdings, LLC ("O'Charley's") and 99 Restaurants Holdings, LLC ("99 Restaurants"); and various other controlled portfolio companies and minority equity investments.
See Note H for further discussion of the businesses comprising our reportable segments.