Acquisitions and Dispositions of Businesses (Tables)

6 Months Ended

Jun. 30, 2019

Acquisitions And Dispositions [Abstract]

Schedule of assets acquired and liabilities assumed

The aggregate purchase price of the 2018 acquisitions was allocated as follows, based on acquisition date fair values to the following assets and liabilities:

	Purchase Price Allocation
	Year Ended
(in thousands)	December 31, 2018
Accounts receivable	$	2,344
Inventory	1,268
Property, plant and equipment	1,518
Goodwill	41,840
Amortized intangible assets	78,427
Other assets	5,198
Other liabilities	(7,678		)
Deferred income taxes	(4,900		)
Aggregate purchase price, net of cash acquired	$	118,017

Acquisition Pro Forma Financial Information

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

	Three Months Ended   June 30				Six Months Ended   June 30
(in thousands)	2019		2018		2019		2018
Operating revenues	$	737,602	$	748,958	$	1,442,995	$	1,477,590
Net income	57,195		46,694		139,321		91,796

Information related to Disposal Group

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

(in thousands)	Three Months Ended June 30, 2018		Six Months Ended June 30, 2018
Revenue	$	—	$	91,526
Operating income	—		213