Business Combinations (Tables)

3 Months Ended

Mar. 31, 2018

Acquisition Method for Recording Business Combinations

During the three-month period ended March 31, 2018, we acquired substantially all of the net assets of the following firms in exchange for our common stock and/or cash. These acquisitions have been accounted for using the acquisition method for recording business combinations (in millions, except share data):


Name and Effective Date of Acquisition	Common Shares Issued		Common Share Value		Cash Paid		Accrued Liability		Escrow Deposited		Recorded Earnout Payable		Total Recorded Purchase Price		Maximum Potential Earnout Payable
	(000s)
Market Financial Group, Ltd and Austin Consulting Group Inc. (MFG) January 1, 2018		53	$	3.7	$	33.9	$	—	$	4.2	$	4.0	$	45.8	$	7.0
McGregor & Associates (M&A) March 1, 2018		—		—		13.5		—		2.5		5.1		21.1		12.0
Five other acquisitions completed in 2018		7		—		14.9		—		1.9		4.5		21.3		12.1

		60	$	3.7	$	62.3	$	—	$	8.6	$	13.6	$	88.2	$	31.1

Summary of Estimated Fair Values of Net Assets Acquired

The following is a summary of the estimated fair values of the net assets acquired at the date of each acquisition made in the three-month period ended March 31, 2018 (in millions):


	MFG		M&A		Five Other Acquisitions		Total
Cash	$	0.1	$	—	$	0.1	$	0.2
Other current assets		3.0		0.5		4.0		7.5
Fixed assets		0.4		1.4		0.3		2.1
Goodwill		24.7		5.2		11.1		41.0
Expiration lists		20.2		15.1		10.9		46.2
Non-compete agreements		0.1		0.1		0.2		0.4


Total assets acquired		48.5		22.3		26.6		97.4


Current liabilities		2.3		0.4		3.6		6.3
Noncurrent liabilities		0.4		0.8		1.7		2.9


Total liabilities assumed		2.7		1.2		5.3		9.2


Total net assets acquired	$	45.8	$	21.1	$	21.3	$	88.2

Summary of Unaudited Pro Forma Historical Results

The following is a summary of the unaudited pro forma historical results, as if these entities had been acquired at January 1, 2017 (in millions, except per share data):


	Three-month period ended March 31,
	2018		2017
Total revenues	$	1,839.5	$	1,653.7
Net earnings attributable to controlling interests		273.8		229.3
Basic net earnings per share		1.51		1.28
Diluted net earnings per share		1.48		1.27