ACQUISITIONS

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Acquisitions

During the years ended December 31, 2021 and 2019, the Company completed an acquisition in North America, respectively, and these acquisitions are considered to be complementary to existing operations and fit with the Company’s portfolio optimization strategy, including its RWCS and SID service lines. There were no acquisitions in the year ended December 31, 2020. All were accounted for as business combinations under the applicable guidance.

The results of operations of these acquired businesses have been included in the Consolidated Statements of Loss from the date of the acquisition. Pro forma results of operations for these acquisitions are not presented because the pro forma effects, individually or in the aggregate, were not material to the Company’s consolidated results.

The following table summarizes the acquisition date fair value of consideration transferred for acquisitions completed during the years ended December 31:


In millions
	2021		2019
Cash	$	10.5	$	0.2
Promissory notes	21.9		0.3
Deferred consideration	11.0		—
Total purchase price	$	43.4	$	0.5

The total purchase consideration for the 2021 acquisition has been preliminarily allocated to the assets and liabilities acquired based upon their estimated fair values as of the acquisition date, with the excess of the purchase price over the net assets acquired recorded as goodwill based on the strategic benefits to be achieved and is deductible for tax purposes. We are in the process of valuing all of the assets acquired in the acquisition and until we have completed our valuation process, there may be adjustments to our estimates of fair value and resulting preliminary purchase price allocation, specifically those related to intangibles.

The following table summarizes the purchase price allocation for the acquisitions during the years ended December 31:


In millions
	2021		2019
Fixed assets	$	0.5	$	—
Intangibles	20.0		0.5
Goodwill	22.0		—
Other assets and liabilities, net	0.9		—
Total purchase price	$	43.4	$	0.5