Acquisitions and Dispositions of Businesses (Tables)

9 Months Ended

Sep. 30, 2018

Acquisitions And Dispositions [Abstract]

Schedule of assets acquired and liabilities assumed

The aggregate purchase price of the 2018 and 2017 acquisitions was allocated as follows (2018 on a preliminary basis):

	Purchase Price Allocation
	Nine Months Ended			Twelve Months Ended
(in thousands)	September 30, 2018			December 31, 2017
Accounts receivable	$	2,334		$	12,502
Inventory	1,268			25,253
Property, plant and equipment	1,518			29,921
Goodwill	41,397			143,149
Indefinite-lived intangible assets	14,200			33,800
Amortized intangible assets	64,327			170,658
Other assets	4,912			1,880
Pension and other postretirement benefits liabilities	—			(59,116		)
Other liabilities	(7,575		)	(12,177		)
Deferred income taxes	(4,460		)	(37,289		)
Redeemable noncontrolling interest	—			(3,666		)
Aggregate purchase price, net of cash acquired	$	117,921		$	304,915

Acquisition Pro Forma Financial Information

The following unaudited pro forma financial information presents the Company’s results as if the 2018 acquisitions had occurred at the beginning of 2017. The unaudited pro forma information also includes the 2017 acquisitions as if they occurred at the beginning of 2016:

	Three Months Ended   September 30				Nine Months Ended   September 30
(in thousands)	2018		2017		2018		2017
Operating revenues	$	680,279	$	674,991	$	2,046,792	$	2,033,078
Net income	126,104		25,896		219,092		98,564

Information related to Disposal Group

The revenue and operating income related to the KU business disposed of are as follows:

	Three Months Ended   September 30				Nine Months Ended   September 30
(in thousands)	2018		2017		2018		2017
Revenue	$	—	$	105,036	$	91,526	$	327,529
Operating income	—		1,785		213		18,582