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BUSINESS COMBINATION (Tables)

3 Months Ended

Mar. 31, 2016

BUSINESS COMBINATION

Schedule of total consideration paid for the Horizon Acquisition on effective date of May 29, 2015

(in millions)		Total Consideration
Common shares		$	29.4
Warrants		37.1
Horizon’s debt (including accrued interest and breakage fees)		428.9
Total		$	495.4

Summary of estimated fair values assigned to Horizon's assets acquired and liabilities assumed as a result of the Horizon Acquisition as of March 31, 2016 and December 31, 2015

(in millions)		Total
Cash and cash equivalents		$	0.8
Accounts receivable		31.7
Other current assets		7.2
Deferred tax assets, net		45.6
Property and equipment		170.4
Intangibles - Customer relationships		140.0
Other long-term assets		4.1
Accounts payable		(22.8		)
Accruals and other current liabilities		(32.1		)
Multi-employer withdrawal liabilities		(60.6		)
Capital lease obligations		(1.6		)
Horizon’s debt and warrants		(467.5		)
Total identifiable assets less liabilities		(184.8		)
Total cash paid for common shares		(29.4		)
Goodwill		$	214.2

Schedule of pro forma financial information

		(Unaudited)
		Three Months Ended
		March 31,
Pro Forma Combined: (in millions, except per-share amount)		2016			2015
Operating revenue		$	454.2		$	473.4
Net income from continuing operations		$	18.1		$	9.9
Basic Earnings Per Share:		$	0.42		$	0.23
Diluted Earnings Per Share:		$	0.41		$	0.23
Weighted Average Number of Shares Outstanding:
Basic		43.4			43.4
Diluted		43.8			43.9

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)-(3)
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463

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- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1486-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472

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