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Business Combinations | 3 Months Ended
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Mar. 31, 2018
Business Combinations [Abstract] |
Business Combinations | BUSINESS COMBINATIONS Community Education Centers Acquisition On April 5, 2017, the Company completed its acquisition of Community Education Centers ("CEC"), pursuant to a definitive merger agreement entered into on February 12, 2017 between the Company, GEO/DE/MC/01 LLC, and CEC Parent Holdings LLC. Under the terms of the merger agreement, the Company acquired 100% of the voting interests in CEC for an aggregate consideration of $353.6 million. The Company does not believe that any of the goodwill recorded as a result of the CEC acquisition will be deductible for federal income tax purposes. The allocation of the purchase price was complete as of March 31, 2018. During the three months ended March 31, 2018, the Company made measurement period adjustments to provisional amounts with respect to the CEC acquisition that were recognized at the acquisition date to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. These adjustments related to the Company's valuation of accounts payable and accrued expenses. Of the total measurement period adjustments, accounts payable and accrued expenses decreased by $1.0 million related to an accrual for a legal settlement that was funded out of cash held in escrow and by $1.4 million related to a contingency for unclaimed property. The remaining measurement period adjustments were not individually significant. The final purchase price allocation and adjustments made to the estimated acquisition date fair values during the three months ended March 31, 2018 are as follows (in thousands):
| Acquisition Date Estimated Fair Value as of December 31, 2017 |  | Measurement Period Adjustments during the three months ended March 31, 2018 |  | Final Acquisition Date Fair Value as of March 31, 2018
Accounts Receivable | $ | 32,869 |  |  | $ | — |  |  | $ | 32,869 |
Prepaid and other current assets | 4,397 |  |  | — |  |  | 4,397 |
Property and equipment | 126,510 |  |  | — |  |  | 126,510 |
Intangible assets | 76,000 |  |  | — |  |  | 76,000 |
Favorable lease assets | 3,110 |  |  | — |  |  | 3,110 |
Deferred income tax assets | 4,116 |  |  | 44 |  |  | 4,160 |
Other non-current assets | 4,327 |  |  | — |  |  | 4,327 |
Total assets acquired | $ | 251,329 |  |  | $ | 44 |  |  | $ | 251,373 |
Accounts payable and accrued expenses | 51,651 |  |  | (1,339 | ) |  | 50,312 |
Unfavorable lease liabilities | 1,299 |  |  | — |  |  | 1,299 |
Other non-current liabilities | 10,479 |  |  | (1,166 | ) |  | 9,313 |
Total liabilities assumed | $ | 63,429 |  |  | $ | (2,505 | ) |  | $ | 60,924 |
Total identifiable net assets | 187,900 |  |  | 2,549 |  |  | 190,449 |
Goodwill | 165,656 |  |  | (2,549 | ) |  | 163,107 |
Total consideration paid, net of cash acquired | $ | 353,556 |  |  | $ | — |  |  | $ | 353,556 |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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