NOTE 16: ACQUISITIONS AND DIVESTITURES

In the first quarter of 2013, we acquired two aggregates production facilities for $60,212,000. As a result, we recognized $9,759,000 of goodwill and $800,000 of amortizable intangible assets (contractual rights in place), all of which will be deducted for income tax purposes over 15 years. The contractual rights in place will be amortized against earnings using the unit-of-production method over an estimated weighted-average period of 20 years. The purchase price allocation for this 2013 acquisition is preliminary and subject to adjustment.

In the first quarter of 2013, we sold an aggregates production facility and its related replacement reserve land previously classified as held for sale resulting in net pretax cash proceeds of $5,133,000 and a pretax gain of $2,802,000. Additionally, we sold equipment and other personal property from two idled prestress concrete production facilities in the first quarter of 2013 resulting in net pretax cash proceeds of $622,000 and a pretax gain of $457,000.

Pending divestitures (Aggregates segment — a previously mined and subsequently reclaimed tract of land and Ready-mix segment — a former site of a ready-mix facility) are presented in the accompanying Condensed Consolidated Balance Sheet as of March 31, 2013 as assets held for sale and liabilities of assets held for sale. Likewise, pending divestitures as of December 31, 2012 (Aggregates segment — a previously mined and subsequently reclaimed tract of land, an aggregates production facility and its related replacement reserve land, and Ready-mix segment — a former site of a ready-mix facility) are presented in the accompanying Condensed Consolidated Balance Sheet as of December 31, 2012 as assets held for sale and liabilities of assets held for sale. We expect the sales to occur during 2013. The major classes of assets and liabilities of assets classified as held for sale are as follows:


in thousands	March 31 2013		December 31 2012		March 31 2012
Held for Sale
Current assets		$0		$809		$0
Property, plant & equipment, net		12,929		14,274		0
Total assets held for sale		$12,929		$15,083		$0
Noncurrent liabilities		$0		$801		$0
Total liabilities of assets held for sale		$0		$801		$0

In the first quarter of 2012, we sold real estate resulting in net pretax cash proceeds of $9,691,000 and a pretax gain of $5,979,000.