XML 151 R41.htm IDEA: XBRL DOCUMENT v2.4.0.6
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2012
Business Combinations [Abstract]  
Summary of purchase price allocations
The following table provides the final allocated fair values of the assets acquired and the liabilities assumed at the date of the Hill Hire acquisition:
 
 
 
Assets:
 
 
(In thousands)

Revenue earning equipment
 
 
$
202,837

Operating property and equipment
 
 
18,780

Customer relationships and other intangibles
 
 
10,133

Other assets, primarily accounts receivable
 
 
60,179

 
 
 
291,929

Liabilities, primarily accrued liabilities
 
 
(40,434
)
Net assets acquired
 
 
$
251,495

Summary of acquisitions
The following table provides further information regarding each of these acquisitions:
Company Acquired
 
Date Acquired
 
Segment
 
Purchase Price
 
Vehicles
 
Contractual Customers
Carmenita Leasing, Inc.
 
January 10, 2011
 
FMS
 
$9 million
 
190
 
60
The Scully Companies
 
January 28, 2011
 
FMS/SCS
 
$91 million
 
2,100
 
200
B.I.T. Leasing
 
April 1, 2011
 
FMS
 
$14 million
 
490
 
130
Summary estimated fair values of the assets acquired and the liabilities
The following table provides the final allocated fair values of the assets acquired and the liabilities assumed at the date of the TLC acquisition:
Assets:
 
(In thousands)

Current assets
 
$
24,588

Operating property and equipment
 
73,135

Goodwill
 
131,911

Customer relationships and other intangibles
 
34,980

Other assets
 
816

 
 
265,430

Liabilities:
 
 
Current liabilities
 
(26,875
)
Deferred income taxes and other liabilities
 
(31,432
)
 
 
(58,307
)
Net assets acquired
 
$
207,123

Schedule of unaudited proforma information
The following table provides the unaudited pro forma revenues, net earnings and earnings per common share as if the results of the Hill Hire acquisition had been included in operations commencing January 1, 2010 and the TLC acquisition had been included in operations commencing January 1, 2009. This pro forma information is not necessarily indicative either of the combined results of operations that actually would have been realized had the acquisition been consummated during the periods for which the pro forma information is presented, or of future results. Pro forma information for the Euroway acquisition in 2012 and the other acquisitions in 2011 is not disclosed because the pro forma effect of these acquisitions is not significant.
 
 
Years ended December 31,
 
 
2011
 
2010
 
 
(In thousands, except per share amounts)
Revenue — As reported
 
$
6,050,534

 
5,136,435

Revenue — Pro forma
 
$
6,118,104

 
5,538,824

 
 
 
 
 
Net earnings — As reported
 
$
169,777

 
118,170

Net earnings — Pro forma
 
$
184,849

 
149,501

 
 
 
 
 
Net earnings per common share:
 
 
 
 
Basic — As reported
 
$
3.31

 
2.25

Basic — Pro forma
 
$
3.60

 
2.85

 
 
 
 
 
Diluted — As reported
 
$
3.28

 
2.25

Diluted — Pro forma
 
$
3.58

 
2.84