BUSINESS COMBINATIONS (Tables)

6 Months Ended

Jun. 30, 2011

BUSINESS COMBINATIONS

Summary of the preliminary purchase price for Peak at the acquisition date

Cash paid for Peak common shares	$	162,585
Fair value of previously owned common shares (1)	4,117
Peak net debt assumed (2)	38,431
Total estimated purchase price	$	205,133

(1) The Company previously owned a 3.15% interest in Peak which was recorded in marketable securities. On June 10, 2011, the Company acquired the remaining outstanding shares of Peak and as a result, the Company remeasured the fair value of its previously held common shares and recognized the resulting gain of $1.9 million in other income. The unrealized gain on the Peak investment was previously recorded in accumulated other comprehensive income. For this purpose, the fair value of the Company’s previous investment in Peak was deemed to be $4.1 million, calculated based on the closing price of Peak’s shares on the Toronto Stock Exchange on the date before the acquisition was publicly announced.

(2)   The outstanding Peak debt, net of $15.7 million of cash assumed, which consisted of three term loan facilities, was paid off on June 10, 2011.

Summary of recognized amounts of identifiable assets acquired and liabilities assumed

	Asset (Liability)
Current assets (i)	$	45,797
Property, plant and equipment	149,344
Identifiable intangible assets	14,107
Other assets	8,800
Current liabilities	(27,717		)
Other liabilities	(8,344		)
Total identifiable net assets	$	181,987
Goodwill (ii)	23,146
Total	$	205,133

(i) The preliminary fair value of the financial assets acquired includes customer receivables with a preliminary fair value of $33.4 million. The gross amount due was $35.3 million.

(ii) Goodwill, which is attributable to expected operating and cross-selling synergies, is not expected to be deductible for tax purposes. Goodwill of $9.3 million and $13.8 million has been recorded in the Oil and Gas Field Services and Industrial Services segments, respectively; however, the amount and the allocation are subject to change pending the finalization of the Company’s valuation.

Unaudited pro forma combined summary data as if Peak had been acquired at the beginning of the periods presented

	Three months ended June 30,		Six months ended June 30,
	2010		2010
Pro forma combined revenues	$	494,359	$	881,916
Pro forma combined net income	$	56,488	$	69,148