BUSINESS COMBINATIONS

6 Months Ended

Jun. 30, 2017

Business Combinations [Abstract]

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS

We acquired one solid waste collection business in our Eastern region and one solid waste collection business in our Western region during the six months ended June 30, 2017. We acquired three transfer stations in our Western region during the three months ended June 30, 2016. The operating results of each acquired business is included in the accompanying unaudited consolidated statements of operations from the date of acquisition, and the purchase price has been allocated to the net assets acquired based on fair values at the date of acquisition, with the residual amount recorded as goodwill.

A summary of the purchase price for these acquisitions and the allocation of the purchase price for these acquisitions follows:

	Six Months Ended June 30,
	2017			2016
Purchase Price:
Cash paid for acquisitions	$	2,664		$	2,439
Notes payable	2,400			—
Other non-cash considerations	100			—
Holdbacks	196			400
Total	5,360			2,839
Allocated as follows:
Current assets	—			40
Land	—			353
Building	—			1,360
Equipment	2,291			269
Intangible assets	1,317			—
Other liabilities, net	(49		)	(106		)
Fair value of assets acquired and liabilities assumed	3,559			1,916
Excess purchase price allocated to goodwill	$	1,801		$	923

Unaudited pro forma combined information that shows our operational results as though each acquisition completed since the beginning of the prior fiscal year had occurred as of January 1, 2016 follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2017			2016		2017			2016
Revenue	$	154,729		$	145,911	$	289,715		$	273,408
Operating (loss) income	$	(47,273	)	$	15,625	$	(40,685	)	$	17,548
Net (loss) income attributable to common stockholders	$	(53,673	)	$	5,208	$	(53,889	)	$	(2,435	)
Basic weighted average common shares outstanding	41,811			41,132		41,698			41,064
Basic earnings per share attributable to common stockholders	$	(1.28	)	$	0.13	$	(1.29	)	$	(0.06	)
Diluted weighted average shares outstanding	41,811			41,598		41,698			41,064
Diluted earnings per share attributable to common stockholders	$	(1.28	)	$	0.13	$	(1.29	)	$	(0.06	)

The pro forma results set forth in the table above have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisitions occurred as of January 1, 2016 or of the results of our future operations. Furthermore, the pro forma results do not give effect to all cost savings or incremental costs that may occur as a result of the integration and consolidation of the completed acquisitions.