Acquisitions (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

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	$	78,571
Goodwill		158,545
Site locations		234,584
Non-competition agreements		20
Customer lists and contracts		39,294
Current assets		4,646
Current liabilities		(4,522	)

	$	511,138

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


	Total
Property, plant and equipment	$	26,547
Goodwill		34,275
Site locations		87,899
Non-competition agreements		455
Customer lists and contracts		14,901
Current assets		5,650
Current liabilities		(8,674	)
Long–term liabilities		(2,501	)

	$	158,552

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


	Total
Property, plant and equipment	$	10,542
Goodwill		9,457
Site locations		36,982
Non-competition agreements		135
Customer lists and contracts		7,216
Current assets		895
Current liabilities		(206	)

	$	65,021

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 March 31,
	2016		2015
	(unaudited)
Net revenues	$	340,216	$	331,302
Net income applicable to common stock	$	51,849	$	40,956
Net income per common share — basic	$	0.54	$	0.43
Net income per common share — diluted	$	0.54	$	0.43

The following unaudited pro forma financial information for the Company gives effect to the 2015 and 2014 acquisitions as if they had occurred on January 1, 2014. 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.


	2015		2014
	(unaudited)
Net revenues	$	1,374,831	$	1,336,710
Net income applicable to common stock	$	263,079	$	256,245
Net income per common share — basic	$	2.73	$	2.69
Net income per common share — diluted	$	2.73	$	2.69

The following unaudited pro forma financial information for the Company gives effect to the 2014 and 2013 acquisitions as if they had occurred on January 1, 2013. 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.


	2014		2013
	(unaudited)
Net revenues	$	1,291,771	$	1,262,506
Net income applicable to common stock	$	256,785	$	40,015
Net income per common share — basic	$	2.70	$	0.42
Net income per common share — diluted	$	2.69	$	0.42