Acquisitions

12 Months Ended

Dec. 31, 2019

In fiscal 2019, the Company completed the acquisitions of two businesses. Consideration paid amounted to $24.9 for these acquisitions. Additionally, the Company made a $2.2 deferred purchase price payment during fiscal 2019 related to an acquisition completed during the fourth quarter of fiscal 2018. The goodwill recognized of $8.7 represents synergies from the combined operations of the acquired entities and the Company. Transaction costs related to these acquisitions were not significant for fiscal 2019.

In fiscal 2018, the Company completed the acquisitions of twelve businesses. Consideration paid amounted to $30.1 for these acquisitions. The goodwill recognized of $7.0 represents synergies from the combined operations of the acquired entities and the Company. Transaction costs related to these acquisitions were not significant for fiscal 2018.

In fiscal 2017, the Company completed the acquisitions of fourteen businesses. Consideration paid, net of cash acquired, amounted to approximately $115.9 for these acquisitions. The goodwill recognized of $35.2 represents synergies from the combined operations of the acquired entities and the Company. Transaction costs related to these acquisitions were not significant for fiscal 2017.

The results of operations of each acquisition are included in the consolidated statements of operations of the Company subsequent to the closing date of each acquisition.

The following table summarizes the estimated fair values of the assets acquired by year of acquisition:



	2019		2018
Current assets	$	1.2	$	2.3
Property and equipment	7.6		24.1
Goodwill	8.7		7.0
Other intangible assets	7.5		7.7
Total assets acquired	25.0		41.1
Current liabilities	0.1		2.0
Other long-term liabilities	—		9.0
Total liabilities assumed	0.1		11.0
Net assets acquired	$	24.9	$	30.1

The following table presents the allocation of the purchase price to other intangible assets:



	2019		2018
Customer lists and contracts	$	7.0	$	7.2
Noncompete	0.5		0.5
	$	7.5	$	7.7

The amount of goodwill recorded related to 2019 acquisitions for the South Segment, East Segment, and Midwest Segment was $4.6, $0.0, and $4.1, respectively. The amount of goodwill deductible for tax purposes related to acquisitions in fiscal 2019 and fiscal 2018 was $8.7 and $7.0, respectively. The total amount of consolidated goodwill deductible for tax purposes was $69.4 and $70.0 at December 31, 2019 and 2018, respectively.

The weighted average life of other intangible assets in years is as follows:



Customer lists and contracts	22
Noncompete	5

Goodwill increased by $1.0, decreased by $0.1 and did not change for the years ended December 31, 2019, 2018 and 2017, respectively, as a result of purchase accounting adjustments of acquisitions from the previous year. The changes were primarily related to finalizing the purchase accounting for the acquisitions.