ACQUISITIONS AND DIVESTITURES

3 Months Ended

Mar. 31, 2015

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, 2015:

Acquisition Locations	2015
United States	4
Brazil	2
Ireland	1
Mexico	2
Romania	2
Republic of Korea	3
Spain	1
Total	15

During the quarter ended March 31, 2015, we completed fifteen acquisitions. Domestically, we acquired 100% of stock of one regulated waste business and selected assets of three regulated waste businesses. Internationally, in Brazil, we acquired 100% of the stock of two regulated waste businesses. In Ireland, we acquired 100% of the stock of one regulated waste business. In Mexico, we acquired 100% of the stock of two regulated waste businesses. In Romania, we acquired selected assets of two regulated waste businesses. In Republic of Korea, we acquired selected assets of three regulated waste businesses. In Spain, we acquired selected assets of one regulated waste business.

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,
	2015		2014
Cash	$	34,210	$	12,262
Promissory notes	7,618		12,654
Deferred consideration	624		441
Contingent consideration	13,301		—
Total purchase price	$	55,753	$	25,357

For financial reporting purposes, our acquisitions were accounted for using the acquisition method of accounting. These acquisitions resulted in the 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 growth strategy. During the three months ended March 31, 2015, we recognized a net increase in goodwill of $41.2 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 $12.2 million was assigned to our United States reportable segment, and a net increase of $29.0 million was assigned to our International reportable segment. Approximately $6 million of the goodwill recognized during the three months ended March 31, 2015 will be deductible for income taxes.

During the three months ended March 31, 2015, we recognized a net increase of $19.8 million from the estimated fair value of acquired customer relationships, excluding the effect of foreign currency translation. Amortizable lives of the acquired during the quarter customer relationships ranges 15 to 20 years.

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:

In thousands
	Three Months Ended March 31,
	2015			2014
Fixed assets	$	(1,477	)	$	1,184
Intangibles	19,791			14,277
Goodwill	41,190			10,850
Accounts receivable	4,217			2,223
Accounts payable	(3,512		)	(659		)
Net other (liabilities)/ assets	(1,079		)	(2,024		)
Debt	—			321
Net deferred tax liabilities	(3,377		)	(815		)
Total purchase price allocation	$	55,753		$	25,357

During the three months ended March 31, 2015 and 2014, the Company incurred $3.3 million and $3.2 million, respectively, of acquisition related expenses. These expenses are included with "Selling, general and administrative expenses" ("SG&A") on our Condensed Consolidated Statements of Income.