Acquisitions and Dispositions of Businesses (Tables)

3 Months Ended

Mar. 31, 2018

Acqusitions and Dispositions [Abstract]

Schedule of assets acquired and liabilities assumed

The aggregate purchase price of these 2017 acquisitions was allocated as follows, based on acquisition date fair values to the following assets and liabilities:

	Purchase Price Allocation
	As of
(in thousands)	December 31, 2017
Accounts receivable	$	12,502
Inventory	25,253
Property, plant and equipment	29,921
Goodwill	143,149
Indefinite-lived intangible assets	33,800
Amortized intangible assets	170,658
Other assets	1,880
Pension and other postretirement benefits liabilities	(59,116		)
Other liabilities	(12,177		)
Deferred income taxes	(37,289		)
Redeemable noncontrolling interest	(3,666		)
Aggregate purchase price, net of cash acquired	$	304,915

Acquisition Pro Forma Financial Information

The following unaudited pro forma financial information presents the Company’s results as if the 2018 acquisitions had occurred at the beginning of 2017. The unaudited pro forma information also includes the 2017 acquisitions as if they occurred at the beginning of 2016:

	Three Months Ended   March 31
(in thousands)	2018		2017
Operating revenues	$	659,970	$	642,425
Net income	43,075		24,267

Information related to Disposal Group

The revenue and operating income related to the KU business disposed of are as follows:

	Three Months Ended   March 31
(in thousands)	2018		2017
Revenue	$	91,526	$	110,874
Operating income	213		4,009