The following table presents the summary of the preliminary estimated fair value of the assets acquired and liabilities assumed in the franchisee acquisition as of December 31, 2017, as well as measurement period adjustments made during the three months ended March 31, 2018:



(In Thousands)	Amounts Recognized as of Acquisition Date (as adjusted)¹			Acquisition Accounting Adjustments²			Amounts Recognized as of Acquisition Date (as adjusted)
Purchase Price	$	140,000		$	—		$	140,000
Settlement of Pre-existing Accounts Receivable SEI owed Aaron's, Inc.	3,452			—			3,452
Reimbursement for Insurance Costs	(100		)	—			(100		)
Working Capital Adjustment	188			—			188
Consideration Transferred	143,540			—			143,540
Estimated Fair Value of Identifiable Assets Acquired and Liabilities Assumed
Cash and Cash Equivalents	34			—			34
Receivables	1,448			—			1,448
Lease Merchandise	40,941			—			40,941
Property, Plant and Equipment	8,832			—			8,832
Other Intangibles³	13,578			201			13,779
Prepaid Expenses and Other Assets	440			—			440
Total Identifiable Assets Acquired	65,273			201			65,474
Accounts Payable and Accrued Expenses	(6,534		)	(164		)	(6,698		)
Customer Deposits and Advance Payments	(2,500		)	—			(2,500		)
Capital Leases	(4,514		)	—			(4,514		)
Total Liabilities Assumed	(13,548		)	(164		)	(13,712		)
Goodwill⁴	91,815			(37		)	91,778
Net Assets Acquired	$	51,725		$	37		$	51,762

¹ As previously reported in Note 2 to the consolidated financial statements in the 2017 Annual Report.

² The acquisition accounting adjustments relate to further information obtained during the period regarding the fair value of assumed favorable and unfavorable property operating leases based on comparable market terms of similar leases based on information that existed as of the acquisition date, which the Company expects to complete prior to the one year anniversary date of the acquisition.

³ Identifiable intangible assets are further disaggregated in the table set forth below.

⁴The total goodwill recognized in conjunction with the franchisee acquisition, all of which is expected to be deductible for tax purposes, has been assigned to the Aaron’s Business operating segment. The purchase price exceeded the fair value of the net assets acquired, which resulted in the recognition of goodwill, primarily due to synergies created from the expected future benefits to the Company’s omnichannel platform, implementation of the Company’s operational capabilities, expected inventory supply chain synergies between the Aaron’s Business and Progressive Leasing, and control of the Company’s brand name in new geographic markets. Goodwill also includes certain other intangible assets that do not qualify for separate recognition, such as an assembled workforce.