BUSINESS COMBINATIONS

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS

We acquired various businesses during fiscal year 2016, transition period 2014 and fiscal year 2014, including several solid waste hauling operations, a transfer station, a MRF and an industrial service management business (included in the Other segment). The operating results of these businesses are included in the accompanying audited consolidated statements of operations from each date of acquisition, and the purchase price has been allocated to the net assets acquired based on fair values at each date of acquisition, with the residual amounts recorded as goodwill. Acquired intangible assets other than goodwill that are subject to amortization include client lists and non-compete covenants. These are amortized over a five to ten year period from the date of acquisition. All amounts recorded to goodwill are expected to be deductible for tax purposes. We did not acquire any businesses during fiscal year 2015.

The purchase price paid for these acquisitions and the allocation of the purchase price is as follows:

	Fiscal Year Ended December 31,					Eight Months Ended December 31, 2014		Fiscal Year Ended April 30, 2014
	2016			2015
Purchase Price:
Cash used in acquisitions, net of cash acquired	$	2,439		$	—	$	314	$	7,860
Other non-cash considerations	—			—		—		555
Contingent consideration and holdbacks (1)	400			—		67		1,653
Total	2,839			—		381		10,068
Current assets	40			—		—		814
Land	353			—		—		—
Buildings	1,360			—		—		—
Equipment	269			—		99		2,010
Other liabilities, net	(106		)	—		—		(241		)
Intangible assets	—			—		251		4,302
Fair value of assets acquired and liabilities assumed	1,916			—		350		6,885
Excess purchase price to be allocated to goodwill	$	923		$	—	$	31	$	3,183

(1) In fiscal year 2014, we recovered a portion of the purchase price holdback amount we had previously paid and were relieved of any potential contingent consideration obligation associated with the acquisition of an industrial service management business completed earlier in fiscal year 2014. As a result, we recorded a $1,058 gain on settlement of acquisition related contingent consideration in fiscal year 2014.

The following unaudited pro forma combined information shows our operational results as though each of the acquisitions completed during fiscal year 2016, transition period 2014 and fiscal year 2014 had occurred as of May 1, 2013.

	Fiscal Year Ended December 31,						Eight Months Ended December 31, 2014			Fiscal Year Ended April 30 2014
	2016			2015
Revenue	$	565,853		$	549,794		$	370,837		$	505,598
Operating income	$	44,866		$	31,549		$	21,931		$	12,453
Net loss attributable to common stockholders	$	(6,896	)	$	(13,158	)	$	(6,141	)	$	(22,964	)
Basic and diluted net loss per common share attributable to common stockholders	$	(0.17	)	$	(0.32	)	$	(0.15	)	$	(0.58	)
Basic and diluted weighted average shares outstanding	41,233			40,642			40,262			39,820

The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisitions taken place as of May 1, 2013 or the results of our future operations. Furthermore, the pro forma results do not give effect to all cost savings or incremental costs that may occur as a result of the integration and consolidation of the completed acquisitions.