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Acquisitions | 12 Months Ended
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Dec. 31, 2017
Business Combinations [Abstract] |
ACQUISITIONS | ACQUISITIONS Our growth strategy depends on the execution of our Strategic Acquisition Model. We assess the strategic positioning of acquisition candidates based on certain criteria, which include volume and price trends, size of business, size of market, competitive standing, demographics, strength of brand and barriers to entry. The value of the acquisition candidates is based on the local market competitive dynamic which allows for appropriate and differentiating enterprise valuations and flexibility to customize the transactions. On November 7, 2017, we acquired a funeral home business in Longmont, Colorado for $2.2 million in cash and we acquired a funeral home business in Loveland, Colorado for $2.3 million in cash. On December 5, 2017, we acquired five funeral home businesses on Long Island, New York for $23.0 million in cash. For the acquisitions, we acquired substantially all the assets and assumed certain operating liabilities including obligations associated with a capital lease and with certain financed automobiles. The pro forma impact of these acquisitions on prior periods is not presented, as the impact is not material to our reported results. The results of the acquired businesses are included in the Company's results from the date of acquisition. The following table summarizes the breakdown of the purchase price allocation for the businesses described above (in thousands):
| Purchase Price Allocation
Current assets | $ | 180 |
Property, plant & equipment | 12,195 |
Goodwill | 12,469 |
Intangible and other non-current assets | 3,309 |
Assumed liabilities | (63 | )
Obligations under capital leases | (590 | )
Purchase price | $ | 27,500 |
The intangible and other non-current assets relate to the fair value of tradenames and agreements not-to-compete. The following table summarizes the fair value of the assets acquired for these businesses (in millions):
Acquisition Date |  | Type of Business |  | Market |  | Assets Acquired (Excluding Goodwill) |  | Goodwill Recorded |  | Liabilities and Debt Assumed
November 7, 2017 |  | One Funeral Home |  | Longmont, CO |  | $ | 1.5 |  |  | $ | 0.7 |  |  | $ | — |
November 7, 2017 |  | One Funeral Home |  | Loveland, CO |  | $ | 1.7 |  |  | $ | 0.7 |  |  | $ | (0.1 | )
December 5, 2017 |  | Five Funeral Homes |  | Long Island, NY |  | $ | 12.5 |  |  | $ | 11.1 |  |  | $ | (0.6 | )
As of December 31, 2017, our accounting for our 2017 acquisitions is complete. See Note 12 to the Consolidated Financial Statements included herein for additional information on our intangible and other non-current assets. During 2016, we acquired six funeral home businesses. We acquired two funeral home businesses in Houston, Texas in May 2016, one funeral home business in Madera, California in September 2016, one funeral home business in Brookfield, Wisconsin in November 2016 and two funeral home businesses in Burlington, North Carolina and Graham, North Carolina in November 2016. The following table summarizes the breakdown of the purchase price for the businesses acquired during 2016 (in thousands):
| Purchase Price
Cash paid | $ | 23,871 |
Deferred payments | 8,884 |
Purchase price | $ | 32,755 |
The following table summarizes the breakdown of the purchase price allocation for the businesses acquired during 2016 (in thousands):
| Purchase Price Allocation
Current assets | $ | 530 |
Property, plant & equipment | 15,972 |
Goodwill | 11,832 |
Intangible and other non-current assets | 4,588 |
Assumed liabilities | (167 | )
Purchase price | $ | 32,755 |
The intangible and other non-current assets relate to the fair value of tradenames and agreements not-to-compete, and the assumed liabilities relate to the obligations associated with certain financed automobiles we acquired. The following table summarizes the fair value of the assets acquired for the businesses acquired during 2016 (in millions):
Acquisition Date |  | Type of Business |  | Market |  | Assets Acquired (Excluding Goodwill) |  | Goodwill Recorded |  | Liabilities and Debt Assumed
May 31, 2016 |  | Two Funeral Homes |  | Houston, TX |  | $ | 7.0 |  |  | $ | 3.3 |  |  | $ | (0.1 | )
September 20, 2016 |  | One Funeral Home |  | Madera, CA |  | $ | 3.7 |  |  | $ | 1.9 |  |  | $ | — |
November 8, 2016 |  | One Funeral Home |  | Brookfield, WI |  | $ | 5.7 |  |  | $ | 1.2 |  |  | $ | (0.1 | )
November 15, 2016 |  | Two Funeral Homes |  | Burlington/Graham, NC |  | $ | 4.7 |  |  | $ | 5.4 |  |  | $ | — |

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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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