BUSINESS COMBINATIONS

6 Months Ended

Jun. 30, 2021

Business Combination and Asset Acquisition [Abstract]

BUSINESS COMBINATIONS

NOTE 14. BUSINESS COMBINATIONS

The Company made 18 acquisitions during the six-month period ended June 30, 2021, and 31 acquisitions for the year ended December 31, 2020. For the 18 acquisitions completed through June 30, 2021, the preliminary values of major classes of assets acquired and liabilities assumed recorded at the dates of acquisition, as adjusted during the valuation period, are included in the reconciliation of the total consideration as follows (in thousands):

	June 30, 2021
Accounts receivable, net	$	504
Materials and supplies		128
Equipment and property		1,613
Goodwill		11,732
Customer contracts		17,994
Other intangible assets		291
Current liabilities		(142	)
Other assets and liabilities, net		163
Total consideration paid	$	32,283
Less: Contingent consideration liability		(3,898	)
Total cash purchase price	$	28,385

Goodwill from acquisitions represents the excess of the purchase price over the fair value of net assets of businesses acquired. The factors contributing to the amount of goodwill are based on strategic and synergistic benefits that are expected to be realized. For the period ended June 30, 2021, $11.7 million of goodwill was added related to the 18 acquisitions noted above. The recognized goodwill is expected to be deductible for tax purposes.