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Acquisitions (Tables)
12 Months Ended
Dec. 31, 2012
Acquisitions  
Schedule of present value of cash consideration

 

 

Central Net Debt Working Capital at September 30, 2012 as defined in the Merger Agreement

  $ (300,546 )

Threshold

    285,000  
       

Excess over the threshold

    (15,546 )

Cash consideration payable in three years

    27,000  
       

Settled cash consideration

  $ 11,454  
       

Present value of cash consideration at the acquisition date

  $ 8,943  

        

Schedule of fair value of the final consideration transferred for acquisition

 

Stock consideration

  $ 140,726  

Present value of cash consideration to be issued

    8,943  
       

Total consideration transferred

  $ 149,669  
       

        

Summary of the fair values of the assets acquired and liabilities assumed in the acquisition as previously reported based on the preliminary allocation and as finalized

 

 

 
  Preliminary
amounts(a)
  Purchase
Price
Accounting
Adjustment
  Amounts as
finalized
 

Net current liabilities

  $ (28,041 ) $ 2,597   $ (25,444 )

Leasehold improvements, equipment, land and construction in progress, net

    24,154     627     24,781  

Identified intangible assets:

                   

Management contracts

    81,000         81,000  

Favorable lease contracts

    51,650     28,585     80,235  

Trade name / trademarks

    14,900     (5,800 )   9,100  

Existing technology

    34,000         34,000  

Non-competition agreements

    2,600         2,600  

Other noncurrent assets

    17,748         17,748  

Long-term debt

    (237,223 )       (237,223 )

Unfavorable lease contracts

    (69,316 )   (32,360 )   (101,676 )

Other noncurrent liabilities

    (19,523 )       (19,523 )

Net long term deferred tax liability

    (24,516 )   1,988     (22,528 )
               

Net (liabilities assumed)

    (152,567 )   (4,363 )   (156,930 )

Goodwill

    302,236     4,363     306,599  
               

Total consideration transferred

  $ 149,669   $   $ 149,669  
               

(a)
These amounts reflect the reclassification of net long term deferred tax liabilities of $24,434 from net current liabilities to net long term deferred tax liability.

        

Schedule of expected future accretion of unfavorable lease contracts

 

 

 
  Unfavorable lease contract
accretion
 

2013

  $ 17,467  

2014

    12,897  

2015

    11,068  

2016

    10,312  

2017

    9,117  

2018 and Thereafter

    31,364  
       

Total

  $ 92,225  
       

        

Schedule of acquiree information included in the Company's Consolidated Statements of Income

 

 

 
  Central's operations
included in the
Company's results for
the year ended
December 31, 2012
 

Total revenue

  $ 190,008  

Operating loss(1)

 
$

(9,263

)
       

(1)
Includes amortization and depreciation related to identifiable intangible and tangible assets of $ 5,944 and acquisition and integration costs of $10,007.

        

Schedule of unaudited pro forma consolidated results of operations

 

 
  2012   2011  

Revenue, excluding reimbursed management contract revenue

  $ 880,062   $ 866,513  

Net loss from continuing operations attributable to Standard stockholders

  $ (26,889 ) $ (7,534 )
           

Earnings per share from continuing operations attributable to Standard stockholders

             

Basic

  $ (1.23 )   (0.34 )

Diluted

 
$

(1.23

)

$

(0.34

)