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Acquisitions (Tables)

3 Months Ended

Mar. 31, 2015

Acquisitions [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed



(in millions)		Purchase Price
Base purchase price		$	690.0
Working capital and other adjustments		24.2
Estimated transaction consideration		$	714.2

Current assets		$	44.4
Property and equipment		86.4
Goodwill		296.4
Intangible assets^(a)		316.6
Other assets		10.7
Current liabilities		(34.5		)
Long-term debt^(b)		(1.4		)
Other liabilities		(4.4		)
Total net assets acquired		$	714.2


(a)	Intangible assets included with the preliminary purchase price allocation are as follows:



(in millions)		Estimated Useful Life		Intangible Assets Allocation
Permits and leasehold agreements		12 - 20 years		$	244.0
Franchise agreements		4 - 15 years		34.8
Advertising relationships		7 years		16.0
Other		1 - 5 years		21.8
				$	316.6


(b)	In conjunction with the Acquisition, we assumed a total of $1.4 million of long term debt, due to three unrelated third parties. The debt has varying maturities through June 1, 2021. As of March 31, 2015, we have prepaid several of the debt obligations, leaving a remaining balance of $0.6 million, with varying maturities through January 31, 2017.

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

Intangible assets included with the preliminary purchase price allocation are as follows:



(in millions)		Estimated Useful Life		Intangible Assets Allocation
Permits and leasehold agreements		12 - 20 years		$	244.0
Franchise agreements		4 - 15 years		34.8
Advertising relationships		7 years		16.0
Other		1 - 5 years		21.8
				$	316.6