XML 28 R12.htm IDEA: XBRL DOCUMENT v3.3.1.900
Acquisitions
12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
ACQUISITIONS
ACQUISITIONS

On August 1, 2014, we acquired all of the common stock of Bullwell Trailer Solutions, Ltd, a U.K.-based trailer repair and maintenance company for a purchase price of approximately $15 million, net of cash acquired. The acquisition complements our FMS business segment coverage in the U.K. The purchase accounting for this acquisition resulted in goodwill and customer relationship intangible assets of $12 million and $2 million, respectively, with the remaining amount allocated to tangible assets, less liabilities assumed. Transaction costs related to the acquisition were not material. Approximately $12 million of the stock purchase price has been paid as of December 31, 2015.

The purchase price included $6 million in contingent consideration to be paid to the seller provided certain milestones were met. During 2015, we paid $4 million as a result of certain milestones being met. As of December 31, 2015, the fair value of the remaining contingent consideration has been reflected in "Accrued expenses and other current liabilities" in our Consolidated Balance Sheets.