Acquisitions and Divestitures

12 Months Ended

Dec. 31, 2017

The Company's acquisition and divestiture activities are summarized below:



	Year Ended December 31,
	2017		2016		2015
	(in millions)
Acquisitions:
Purchase price	$	63.0	$	—	$	46.2
Net cash paid	$	47.5	$	—	$	46.2
Goodwill recorded	$	25.0	$	—	$	—

Divestitures:
Proceeds	$	—	$	—	$	51.3
Gain recognized	$	—	$	—	$	8.3
Goodwill charged off	$	—	$	—	$	17.3

In May and October 2017, we completed the acquisition of the assets of two lightweight aggregates businesses, issuing 459,603 shares of stock valued at $14.7 million for the October acquisition. In July 2017, we completed the acquisition of the assets of a trench shoring products business for $42.1 million. All three acquisitions were in our Construction Products Group. As of December 31, 2017, these acquisitions were recorded based on preliminary valuations of the acquired assets and liabilities at their acquisition date fair value using level three inputs. Such assets and liabilities were not significant in relation to assets and liabilities at the consolidated or segment level. See Note 3 Fair Value Accounting for a discussion of inputs in determining fair value.

In March 2015, we completed the acquisition of the assets of a lightweight construction aggregates business in our Construction Products Group with facilities located in Louisiana, Alabama, and Arkansas.

In June 2015, we sold the assets of our galvanizing business which included six facilities in Texas, Mississippi, and Louisiana, recognizing a gain of $8.3 million which is included in other gains on dispositions of property in the accompanying consolidated statements of operations. The assets and results of operations for this divestiture were included in the Construction Products Group.