Basis of Presentation and Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2015

The following table outlines the Company’s other current assets as of September 30, 2015 and December 31, 2014 (in millions):



	As of September 30, 2015		As of December 31, 2014
Value-added tax and income tax receivables	$	117.9	$	15.4
Prepaid expenses	91.3		13.2
Miscellaneous receivables	37.5		5.4
Inventory	25.5		1.3
Other current assets	12.6		0.7
Total Other Current Assets	$	284.8	$	36.0

Estimated Useful Lives of Assets

Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:



Classification	Estimated Useful Life
Buildings and leasehold improvements	Term of lease to 40 years
Vehicles, trailers and tankers	5 to 13 years
Rail cars, container and chassis	15 to 30 years
Machinery and equipment	5 to 10 years
Office and warehouse equipment	5 to 10 years
Computer software and equipment	3 to 5 years

The following table sets forth the Company’s property and equipment as of September 30, 2015 and December 31, 2014 (in millions):



	As of September 30, 2015			As of December 31, 2014
Property and Equipment, at cost
Buildings and leasehold improvements	$	166.4		$	33.2
Vehicles, trailers and tankers	362.9			4.4
Rail cars, containers and chassis	13.3			13.0
Machinery and equipment	239.8			44.4
Office and warehouse equipment	69.6			32.9
Computer software and equipment	248.3			141.3
	1,100.3			269.2
Less: Accumulated depreciation	(144.6		)	(47.3		)
Total Property and Equipment, net	$	955.7		$	221.9

Schedule of Estimated Useful Lives of Intangible Assets

The range of estimated useful lives and the weighted-average useful lives of the respective intangible assets by type are as follows:



Classification	Estimated Useful Life	Weighted-Average Amortization Period
Customer relationships	3 to 14 years	12.05 years
Carrier relationships	2 years	2.00 years
Trade names	3 to 3.5 years	3.06 years
Non-compete agreements	Term of agreement	4.57 years
Other intangible assets	1.5 to 5 years	4.24 years

Summary of Accrued Expenses

The following table outlines the Company’s accrued expenses, other as of September 30, 2015 and December 31, 2014 (in millions):



	As of September 30, 2015		As of December 31, 2014
Accrued salaries and wages	$	325.1	$	50.1
Accrued value-added tax and other taxes	137.9		1.3
Accrued interest	49.8		15.1
Accrued estimated litigation liabilities	47.8		11.5
Accrued purchased services	24.5		18.9
Accrued insurance claims	14.4		5.8
Other accrued expenses	49.4		17.2
Total Accrued Expenses, Other	$	648.9	$	119.9

Summary of Other Current Liabilities

The following table outlines the Company’s other current liabilities as of September 30, 2015 and December 31, 2014 (in millions):



	As of September 30, 2015		As of December 31, 2014
Deferred revenue	$	61.0	$	0.5
Bank overdrafts	57.5		—
Acquisition earn-out liability	29.1		—
Current portion of interest rate swap liability	5.0		—
Other current liabilities	40.5		6.2
Total Other Current Liabilities	$	193.1	$	6.7

Schedule of Carrying Value and Estimated Fair Value of Financial Instruments

The following table summarizes the carrying value and estimated fair value of the Company's financial instruments as of September 30, 2015 and December 31, 2014 (in millions):



	As of September 30, 2015
	Carrying Value			Fair Value			Level 1		Level 2			Level 3
Money market funds	$	376.4		$	376.4		$	376.4	$	—		$	—
Derivative instruments	(29.4		)	(29.4		)	—		(29.4		)	—
Senior notes due 2022	1,600.0			1,359.8			1,359.8		—			—
Senior notes due 2021	560.2			485.9			—		485.9			—
Senior notes due 2019	914.0			877.5			877.5		—			—
Convertible senior notes	59.1			98.2			98.2		—			—
Euro private placement notes due 2020	14.9			13.6			—		13.6			—

	As of December 31, 2014
	Carrying Value			Fair Value			Level 1		Level 2			Level 3
Money market funds	$	330.8		$	330.8		$	330.8	$	—		$	—
Senior notes due 2019	500.0			527.5			527.5		—			—
Convertible senior notes	91.9			271.3			271.3		—			—