BUSINESS COMBINATIONS

9 Months Ended

Sep. 30, 2016

Business Combinations [Abstract]

BUSINESS COMBINATIONS

NOTE 8. BUSINESS COMBINATIONS

The Company made twenty eight acquisitions during the nine month period ended September 30, 2016, and twelve acquisitions for the year ended December 31, 2015, respectively, as disclosed on various press releases and related Form 8-Ks.

Total cash purchase price for the Company’s acquisitions for the nine months ended September 30, 2016 was $40.8 million net of cash acquired.

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,
	2016
Accounts receivable	$	3,185
Materials and supplies		352
Equipment and property		4,039
Goodwill		8,613
Customer contracts		40,861
Other intangible assets		1,065
Current liabilities		(6,836	)
Other assets and liabilities, net		(2,836	)
Total consideration paid	$	48,443
Less:  Contingent consideration liability		(7,619	)
Total cash purchase price	$	40,824

Goodwill from acquisitions represents the excess of the purchase price over the fair value of net assets of businesses acquired. The carrying amount of goodwill was $260.2 million and $249.9 million at September 30, 2016 and December 31, 2015, respectively. Goodwill generally changes due to the timing of acquisitions, finalization of allocation of purchase prices of previous acquisitions and foreign currency translations. The carrying amount of goodwill in foreign countries was $47.2 million at September 30, 2016 and $36.9 million at December 31, 2015.

The Company completed its most recent annual impairment analyses as of September 30, 2016. Based upon the results of these analyses, the Company has concluded that no impairment of its goodwill or other intangible assets was indicated.

The carrying amount of customer contracts and other intangible assets was $116.6 million and $45.2 million, respectively, at September 30, 2016, and $92.8 million and $46.1 million, respectively, at December 31, 2015. The carrying amount of customer contracts and other intangible assets in foreign countries was $32.1 million and $4.4 million, respectively, at September 30, 2016, and $14.9 million and $4.2 million, respectively, at December 31, 2015.

Customer contracts and other amortizable intangible assets are amortized on a straight-line basis over their economic useful lives. The following table sets forth the components of intangible assets as of September 30, 2016 (in thousands):

	Carrying		Useful Life
Intangible Asset	Value		in Years
Customer contracts	$	116,642	3 - 12.5
Trademarks and tradenames		32,933	0 - 20
Non-compete agreements		4,830	3 - 20
Patents		3,221	3 - 15
Other assets		2,031	10
Internet domains		2,228	n/a
Total customer contracts and other intangible assets	$	161,885