Acquisitions and Dispositions of Businesses (Tables)

9 Months Ended

Sep. 30, 2021

Acquisitions And Dispositions [Abstract]

Schedule of assets acquired and liabilities assumed

The aggregate purchase price of the 2021 and 2020 acquisitions was allocated as follows (2021 on a preliminary basis), based on acquisition date fair values to the following assets and liabilities:

	Purchase Price Allocation
	Nine Months Ended		Year Ended
(in thousands)	September 30, 2021		December 31, 2020
Accounts receivable	$	16,080	$	745
Inventory	777		3,496
Property, plant and equipment	6,019		3,346
Lease right-of-use assets	7,744		6,580
Goodwill	167,334		73,951
Amortized intangible assets	88,000		14,589
Other assets	4,507		975
Deferred income taxes	40,850		15,958
Other liabilities	(49,823)		(14,917)
Current and noncurrent lease liabilities	(7,742)		(6,593)
Redeemable noncontrolling interest	—		(6,005)
Aggregate purchase price, net of cash acquired	$	273,746	$	92,125

Acquisition Pro Forma Financial Information

The following unaudited pro forma financial information presents the Company’s results as if the current year acquisitions had occurred at the beginning of 2020. The unaudited pro forma information also includes the 2020 acquisitions as if they occurred at the beginning of 2019:

	Three Months Ended   September 30				Nine Months Ended   September 30
(in thousands)	2021		2020		2021		2020
Operating revenues	$	809,810	$	780,302	$	2,416,109	$	2,255,760
Net income	40,066		75,328		257,887		38,627