ACQUISITIONS AND DIVESTITURES (Tables)

12 Months Ended

Dec. 31, 2014

Notes To Financial Statements [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following is a summary of the allocation of purchase consideration to the estimated fair value of net assets for the acquisition of Phoenix (in thousands):

Cash and cash equivalents	$	75,372
Receivables	125,595
Other current assets	7,209
Property and equipment	12,160
Identifiable intangible assets	130,000
Goodwill	453,208
Other noncurrent assets	13,542
Total assets	$	817,086
Accounts payable	$	(45,367	)
Accrued expenses	(14,340		)
Other liabilities	(80,106		)
Estimated net assets acquired	$	677,273

Identifiable intangible assets and estimated useful lives are as follows (dollars in thousands):

	Estimated Life (years)
Customer relationships	8	$	129,800
Noncompete agreements	5	200
Total identifiable intangible assets		$	130,000

Business Acquisition, Pro Forma Information

On an unaudited pro forma basis, assuming the T-Chek divestiture and the Phoenix acquisition had closed on January 1, 2012, the results of C.H. Robinson excluding T-Chek and including Phoenix would have resulted in the following (in thousands):

	December 31, 2012
	C.H. Robinson As Reported		T-Chek Operations			Phoenix Operations		Combined Pro Forma
Total revenues	$	11,359,113	$	(41,623	)	$	692,836	$	12,010,326
Income from operations	675,320		(20,578		)	24,131		678,873
Net income	593,804		(12,804		)	11,976		592,976

Phoenix pro forma financial information includes the following adjustments for the twelve months ended December 31 (in thousands):

	2012
Eliminate personnel costs from purchased transportation and related services	$	(24,422	)
Eliminate personnel costs from selling, general, and administrative services	(50,065		)
Reclassify costs to personnel expenses	74,487
Contractual changes in compensation	(5,080		)
Additional amortization expense on identifiable intangible assets	13,555
Rent expense for new lease agreements	280
Depreciation on acquired building	123
Incremental interest expense	(2,127		)
Additional bonus paid by sellers	(1,400		)
Third party advisory fees paid by sellers	(582		)
Elimination of variable interest entities not acquired	215
Tax effect	(1,487		)