Acquisitions (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

A summary of the cumulative consideration paid and the preliminary allocation of the purchase price paid for all of our 2019 acquisitions through June 30, 2019 is as follows:



	Six Months Ended June 30, 2019
Cash Paid (gross of cash acquired)(1)	$	39,072
Purchase Price Holdbacks and Other	2,394
Total Consideration	41,466
Fair Value of Identifiable Assets Acquired:
Cash	2,285
Accounts Receivable, Prepaid Expenses and Other Assets	3,164
Property, Plant and Equipment(2)	4,538
Customer Relationship Intangible Assets	15,670
Operating Lease Right-of-Use Assets	13,256
Accounts Payable, Accrued Expenses and Other Liabilities	(2,124		)
Operating Lease Liabilities	(13,256		)
Deferred Income Taxes	(1,628		)
Total Fair Value of Identifiable Net Assets Acquired	21,905
Goodwill Initially Recorded(3)	$	19,561

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(1)	Included in cash paid for acquisitions in the Condensed Consolidated Statement of Cash Flows for the six months ended June 30, 2019 is net cash acquired of $2,285 and contingent and other payments, net of $7,864 related to acquisitions made in previous years.


(2)	Consists primarily of leasehold improvements, racking structures and warehouse equipment. These assets are depreciated using the straight-line method with the useful lives as noted in Note 2.f. to Notes to Consolidated Financial Statements included in our Annual Report.

(3) The goodwill associated with acquisitions is primarily attributable to the assembled workforce, expanded market opportunities and costs and other operating synergies anticipated upon the integration of the operations of us and the acquired businesses.

Business Acquisition, Pro Forma Information

The unaudited consolidated pro forma financial information (the "Pro Forma Financial Information") below summarizes the combined results of us and IODC on a pro forma basis as if the IODC Transaction had occurred on January 1, 2017. The Pro Forma Financial Information is presented for informational purposes and is not necessarily indicative of the results of operations that would have been achieved if the acquisition had taken place on January 1, 2017. The Pro Forma Financial Information, for the period presented, includes purchase accounting adjustments (including amortization expenses from acquired intangible assets and depreciation of acquired property, plant and equipment). We and IODC collectively incurred $28,064 of operating expenditures to complete the IODC Transaction (including advisory and professional fees). These operating expenditures have been reflected within the results of operations in the Pro Forma Financial Information as if they were incurred on January 1, 2017.



	Three Months Ended June 30, 2018		Six Months Ended June 30, 2018
Total Revenues	$	1,060,823	$	2,106,771
Income from Continuing Operations	$	92,263	$	141,604
Per Share Income from Continuing Operations - Basic	$	0.32	$	0.49
Per Share Income from Continuing Operations - Diluted	$	0.32	$	0.49