Business Combinations (Tables)

9 Months Ended

Sep. 30, 2017

Purchase price allocation for current year acquisitions and adjustments made for prior year acquisitions



(in thousands)
Name	Business Segment	Effective Date of Acquisition	Cash Paid		Other Payable		Recorded Earn-Out Payable		Net Assets Acquired		Maximum Potential Earn- Out Payable
Other	Various	Various	26,478		11,395		1,332		39,205		11,605
Total			$	26,478	$	11,395	$	1,332	$	39,205	$	11,605

Estimated fair values of aggregate assets and liabilities acquired

The following table summarizes the estimated fair values of the aggregate assets and liabilities acquired as of the date of each acquisition and adjustments made during the measurement period of the prior year acquisitions.



(in thousands)	Other			Total
Other current assets	98			98
Fixed assets	47			47
Goodwill	27,580			27,580
Purchased customer accounts	12,858			12,858
Non-compete agreements	595			595
Total assets acquired	41,178			41,178
Other current liabilities	(1,284		)	(1,284		)
Deferred income tax, net	(689		)	(689		)
Total liabilities assumed	(1,973		)	(1,973		)
Net assets acquired	$	39,205		$	39,205

Unaudited pro forma results

These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the acquisitions actually been made at the beginning of the respective periods.



(UNAUDITED)	For the three months ended September 30,				For the nine months ended September 30,
(in thousands, except per share data)	2017		2016		2017		2016
Total revenues	$	476,124	$	465,014	$	1,413,278	$	1,341,511
Income before income taxes	$	124,582	$	117,929	$	345,608	$	331,574
Net income	$	76,012	$	72,130	$	213,496	$	201,675
Net income per share:
Basic	$	0.54	$	0.51	$	1.52	$	1.44
Diluted	$	0.53	$	0.51	$	1.50	$	1.43
Weighted average number of shares outstanding:
Basic	136,346		136,461		136,592		136,002
Diluted	138,893		138,182		139,011		137,584

Additions, payments, and net changes, as well as interest expense accretion on estimated acquisition earn-out payables

The resulting additions, payments, and net changes, as well as the interest expense accretion on the estimated acquisition earn-out payables, for the three and nine months ended September 30, 2017 and 2016, were as follows:



	For the three months ended September 30,						For the nine months ended September 30,
(in thousands)	2017			2016			2017			2016
Balance as of the beginning of the period	$	57,943		$	73,447		$	63,821		$	78,387
Additions to estimated acquisition earn-out payables	1,050			1,437			1,332			3,828
Payments for estimated acquisition earn-out payables	(23,511		)	(16,988		)	(39,288		)	(27,555		)
Subtotal	35,482			57,896			25,865			54,660
Net change in earnings from estimated acquisition earn-out payables:
Change in fair value on estimated acquisition earn-out payables	(1,784		)	2,883			6,402			4,704
Interest expense accretion	476			727			1,907			2,142
Net change in earnings from estimated acquisition earn-out payables	(1,308		)	3,610			8,309			6,846
Balance as of September 30,	$	34,174		$	61,506		$	34,174		$	61,506