Acquisitions (Tables)

6 Months Ended

Jun. 30, 2016

Summary of Allocation of Acquisition Costs

The following is a summary of the allocation of the acquisition costs in the above transactions.

	Total
Property, plant and equipment	$	93,814
Goodwill		158,341
Site locations		222,176
Non-competition agreements		40
Customer lists and contracts		39,294
Current assets		4,674
Other assets		2,046
Current liabilities		(5,238	)
	$	515,147

Summary of Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information for the Company gives effect to the 2016 and 2015 acquisitions as if they had occurred on January 1, 2015. These pro forma results do not purport to be indicative of the results of operations which actually would have resulted had the acquisitions occurred on such date or to project the Company’s results of operations for any future period.

	Three months ended June 30,				Six months ended June 30,
	2016		2015		2016		2015
	(unaudited)
Net revenues	$	387,528	$	374,956	$	727,744	$	706,258
Net income applicable to common stock	$	81,812	$	57,743	$	133,473	$	93,923
Net income per common share — basic	$	0.84	$	0.60	$	1.38	$	0.98
Net income per common share — diluted	$	0.84	$	0.60	$	1.37	$	0.98