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Acquisitions
9 Months Ended
Sep. 30, 2015
Acquisitions [Abstract]  
Acquisitions

NOTE 3.ACQUISITIONS

 

We believe that our acquisitions enhance our existing businesses by either expanding our geographic range or customer base.

 

During the nine months ended September 30, 2015, we paid an aggregate of $7.5 million in cash and recorded contingent consideration of $3.2 million to acquire two reference laboratory diagnostic and consulting businesses, each accounted for as a separate business combination. As part of these business acquisitions, we recognized $5.2 million in customer list amortizable intangible assets,  $5.0 million in goodwill, $1.1 million in working capital,  $0.3 million in fixed assets and a deferred tax liability of $0.9 million. The customer lists were each assigned useful lives of 15 years. Goodwill is calculated as the consideration in excess of net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. The goodwill recorded from these business acquisitions is not deductible for income tax purposes. All assets acquired in connection with these business acquisitions were assigned to our CAG segment. The results of operations of these acquired businesses have been included since the acquisition date. Pro forma information has not been presented for these business acquisitions because such information is not material to the financial statements.