BUSINESS COMBINATIONS (Tables)

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

The preliminary fair values of Clark Pest Control's assets and liabilities, at the date of acquisition

The preliminary fair values of Clark Pest Control's assets and liabilities, at the date of acquisition, were as follows:

	at April 30
(dollars in thousands)	2019
Assets and liabilities:
Trade accounts receivables	$	6,974
Materials and supplies		900
Other current assets		5,367
Equipment and property, net		65,535
Goodwill		191,853
Customer contracts		112,700
Trademarks & tradenames		49,300
Non-compete agreements		500
Accounts payable		(1,929	)
Accrued compensation and related liabilities		(5,678	)
Unearned revenues		(879	)
Contingent Consideration, short-term		(6,777	)
Other current liabilities		(5,452	)
Other long term liabilities		(9,352	)
Accrued insurance, less current portion		(1,870	)
Contingent Consideration, long-term		(5,923	)
	$	395,269

The unaudited pro forma financial information presented below gives effect to the Clark Pest Control acquisition

The unaudited pro forma financial information presented below gives effect to the Clark Pest Control acquisition as if it had occurred as of the beginning of our fiscal year 2018. The information presented below is for illustrative purposes only and is not necessarily indicative of results that would have been achieved if the acquisition actually had occurred as of the beginning of such years or results which may be achieved in the future.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
REVENUES
Customer services	$	593,830	$	523,957	$	1,615,922	$	1,481,329
COSTS AND EXPENSES		548,111		430,970		1,427,851		1,231,662
INCOME BEFORE INCOME TAXES		45,719		92,987		188,071		249,667
PROVISION FOR INCOME TAXES		2,078		23,262		36,569		58,566
NET INCOME	$	43,641	$	69,725	$	151,502	$	191,101
NET INCOME PER SHARE - BASIC AND DILUTED	$	0.13	$	0.21	$	0.46	$	0.58
DIVIDENDS PAID PER SHARE	$	0.11	$	0.09	$	0.32	$	0.28
Weighted average participating shares outstanding - basic and diluted		327,459		327,320		327,490		327,283

The preliminary values of major classes of assets acquired and liabilities assumed recorded at the date of acquisition, as adjusted during the valuation period

The preliminary values of major classes of assets acquired and liabilities assumed recorded at the date of acquisition, as adjusted during the valuation period, are included in the reconciliation of the total consideration as follows (in thousands):

	September 30, 2019
Accounts receivable, net	$	8,535
Materials & supplies		1,378
Equipment and property		68,704
Goodwill		201,443
Customer contracts and other intangible assets		189,581
Current liabilities		(18,180	)
Other assets and liabilities, net		(7,512	)
Total purchase price	$	443,949
Less: Contingent consideration liability		(12,700	)
Total cash purchase price	$	431,249