Acquisitions and Dispositions of Businesses (Tables)

3 Months Ended

Mar. 31, 2017

Acqusitions and Dispositions [Abstract]

Schedule of assets acquired and liabilities assumed

The aggregate purchase price of the 2017 and 2016 acquisitions was allocated as follows (2017 on a preliminary basis):

	Purchase Price Allocation
	As of
(in thousands)	March 31, 2017			December 31, 2016
Accounts receivable	$	386		$	8,538
Other current assets	130			2,298
Property, plant and equipment	8,960			3,940
Goodwill	42,632			184,118
Indefinite-lived intangible assets	26,600			53,110
Amortized intangible assets	53,307			28,267
Pension and other postretirement benefits liabilities	(59,116		)	—
Other liabilities	(1,217		)	(21,892		)
Deferred income taxes	13,733			(11,009		)
Aggregate purchase price, net of cash acquired	$	85,415		$	247,370

Acquisition Pro Forma Financial Information

The following unaudited pro forma financial information presents the Company’s results as if the 2017 acquisitions had occurred at the beginning of 2016. The unaudited pro forma information also includes the 2016 acquisitions as if they occurred at the beginning of 2015:

	Three Months Ended   March 31
(in thousands)	2017		2016
Operating revenues	$	584,152	$	614,753
Net income	21,099		39,567