BUSINESS COMBINATION (Tables)

6 Months Ended

Jun. 30, 2015

BUSINESS COMBINATION

Schedule of total cash consideration paid

(in millions)	Cash Consideration May 29, 2015
Common shares	$	29.4
Warrants	37.1
Horizon’s debt (including accrued interest and breakage fees)	428.9
Total cash consideration	$	495.4

Summary of fair value of assets acquired and liabilities assumed at the acquisition date

(in millions)	Estimated Fair Values May 29, 2015
Cash and cash equivalents	$	0.8
Accounts receivable	31.7
Other current assets	7.1
Deferred tax assets, net	38.9
Property and equipment	171.0
Intangibles - Customer relationships	140.0
Other long-term assets	5.0
Accounts payable	(23.2		)
Accruals and other current liabilities	(32.1		)
Multi-employer withdrawal liabilities	(60.6		)
Debt, capital lease obligations and warrants	(468.9		)
Total identifiable assets less liabilities	(190.3		)
Total cash paid for common shares	(29.4		)
Goodwill	$	219.7

Schedule of annual cash outflows related to the multi-employer pension plan

Expected annual cash outflows related to the multi-employer pension plan are as follows (in millions):

Year ended June 30 (in millions):	Repayments
2016	$	2.1
2017	4.1
2018	4.1
2019	4.1
2020	4.1
Thereafter	55.4
Total	$	73.9

Summary of pro forma financial information

	(unaudited)				(unaudited)
	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions, except per-share amount)	2015		2014		2015		2014
Pro forma combined:
Operating Revenue	$	507.2	$	526.2	$	980.6	$	994.1
Net income from continuing operations	$	7.6	$	8.9	$	25.1	$	0.4
Basic Earnings per share:	$	0.17	$	0.21	$	0.58	$	0.01
Diluted Earnings per share:	$	0.17	$	0.21	$	0.57	$	0.01
Weighted Average Number of Shares Outstanding:
Basic	43.5		43.0		43.4		43.0
Diluted	44.0		43.2		43.9		43.2