ACQUISITIONS AND DIVESTITURES

3 Months Ended

Mar. 31, 2013

Business Combinations [Abstract]

ACQUISITIONS AND DIVESTITURES

ACQUISITIONS AND DIVESTITURES

The following table summarizes the locations of our acquisitions for the three months ended March 31, 2013:

Acquisition Locations	2013
United States	1
Canada	1
Chile	1
Japan	2
Portugal	1
Romania	1
Spain	1
United Kingdom	4
Total	12

During the quarter ended March 31, 2013, we completed twelve regulated waste acquisitions. Domestically, we acquired selected assets of one business. Internationally, we acquired 100% of the stock of one business in each of Canada, Chile, Portugal, and Romania and of three businesses in the United Kingdom. In addition, we acquired selected assets of two businesses in Japan, one in Spain, and one in the United Kingdom.

The following table summarizes the aggregate purchase price paid for acquisitions and other adjustments of consideration to be paid for acquisitions during the three months ended March 31:

In thousands
	Three Months Ended March 31,
	2013		2012
Cash	$	18,899	$	28,182
Promissory notes	7,310		8,070
Deferred consideration	2,189		6,053
Contingent consideration	955		760
Total purchase price	$	29,353	$	43,065

For financial reporting purposes, our 2013 and 2012 acquisitions were accounted for using the acquisition method of accounting. These acquisitions resulted in recognition of goodwill in our financial statements reflecting the premium paid to acquire businesses that we believe are complementary to our existing operations and fit our strategy. During the three months ended March 31, 2013, we recognized a net increase in goodwill of $18.4 million excluding the effect of foreign currency translation (see Note 9 – Goodwill and Other Intangible Assets, in the Notes to the Condensed Consolidated Financial Statements). A net increase of $1.2 million was assigned to our United States reporting segment, and $17.2 million was assigned to our International reporting segment. Approximately $5.3 million of the goodwill recognized during the three months ended March 31, 2013 will be deductible for income taxes.

During the three months ended March 31, 2013, we recognized a net increase in intangible assets of $11.1 million excluding the effect of foreign currency translation. The changes include $10.3 million in the estimated fair value of acquired customer relationships with amortizable lives of 15 to 40 years and $0.8 million in permits with indefinite lives.

The purchase prices for these acquisitions in excess of acquired tangible assets have been primarily allocated to goodwill and other intangibles and are preliminary, pending completion of certain intangible asset valuations and completion accounts. The following table summarizes the preliminary purchase price allocation for current period acquisitions and other adjustments to purchase price allocations during the three months ended March 31, 2013:

In thousands
Fixed assets	$	2,182
Intangibles	11,117
Goodwill	18,434
Net other assets/ (liabilities)	77
Debt	(448		)
Net deferred tax liabilities	(2,009		)
Total purchase price allocation	$	29,353

During the three months ended March 31, 2013 and 2012, the Company incurred $1.8 million and $1.5 million, respectively, of acquisition related expenses. These expenses are included with SG&A on our Condensed Consolidated Statements of Income.