BUSINESS COMBINATION (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of pro forma financial information

	Years Ended December 31,
(In millions, except per-share amount)	2016		2015
Pro Forma Combined:
Operating revenue	$	1,974.2	$	2,076.4
Net income after income taxes	$	86.0	$	107.7
Basic Earnings Per-Share:	$	2.00	$	2.48
Diluted Earnings Per-Share:	$	1.98	$	2.45
Weighted-Average Number of Shares Outstanding:
Basic		43.1		43.5
Diluted		43.5		44.0

Span Alaska

Schedule of total consideration paid for the membership interests in Span Alaska

Total consideration paid by the Company on the Effective Date for the membership interests in Span Alaska including the repayment of Span Alaska’s debt and accrued interest, is as follows:

Consideration (in millions)	Total
Membership interests	$	117.0
Span Alaska’s debt		81.9
Total	$	198.9

Summary of estimated fair values assigned to assets acquired and liabilities assumed

Purchase Price Allocation (in millions)	Final
Cash and cash equivalents	$	4.4
Accounts receivable		11.1
Prepaid and other current assets		0.9
Property and equipment		8.1
Intangibles – Customer relationships		79.3
Intangibles – Trade name		27.3
Other long-term assets		0.1
Accounts payable		(3.3)
Accruals and other current liabilities		(6.4)
Capital lease obligations		(1.2)
Span Alaska’s debt		(81.9)
Total identifiable assets less liabilities		38.4
Total consideration for membership interests		(117.0)
Goodwill	$	78.6

Horizon

Summary of estimated fair values assigned to assets acquired and liabilities assumed

Purchase Price Allocation (in millions)	Final
Cash and cash equivalents	$	0.8
Accounts receivable		31.7
Other current assets		7.2
Deferred tax assets, net		46.3
Property and equipment		170.4
Intangibles - Customer relationships		140.0
Other long-term assets		4.1
Accounts payable		(22.8)
Accruals and other current liabilities		(31.4)
Multi-employer withdrawal liability		(65.5)
Capital lease obligations		(1.6)
Horizon's debt and warrants		(467.5)
Total identifiable assets less liabilities		(188.3)
Total cash paid for common shares		(29.4)
Goodwill	$	217.7