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Merger, Acquisition and Other Integration Expenses

6 Months Ended

Jun. 30, 2012

Merger Acquisition and Other Integration Expenses [Abstract]

Merger Acquisition and Other Integration Expenses

12. Merger, Acquisition and Other Integration Expenses

In connection with the Merger, we have incurred significant transaction, integration, and transitional costs. These costs include investment banker advisory fees; legal, tax, accounting and valuation fees; termination and severance costs (both cash and stock based compensation awards) for terminated and transitional employees; non-capitalized system conversion costs; and other integration costs. These costs are expensed as incurred, which in some cases will be through the end of 2012. Certain of these costs were obligations of AMB and expensed prior to the closing of the Merger by AMB. At the time of the Merger, we terminated our existing credit facilities and wrote-off the remaining unamortized deferred loan costs associated with such facilities, which is included as a merger expense. In addition, we have included costs associated with the acquisition of a controlling interest in PEPR in 2011 and the pending liquidation of PEPR in 2012. The following is a breakdown of the Merger and Acquisition costs incurred (in thousands):

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2012				2011				2012				2011
Termination, severance and transitional employee costs		$	11,852			$	30,530			$	19,537			$	34,337
Professional fees			6,738				39,308				8,954				41,489
Office closure, travel and other costs			2,596				22,345				3,423				22,345
Write-off of deferred loan costs			—				10,869				—				10,869
Total		$	21,186			$	103,052			$	31,914			$	109,040

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- Definition

The entire description for costs incurred to effect a business combination that have been expensed during the period. Such costs could include business integration costs, systems integration and conversion costs, and severance and other employee-related costs.

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