Annual report pursuant to Section 13 and 15(d)

Purchase Price Obligations

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Purchase Price Obligations
12 Months Ended
Dec. 31, 2017
Purchase Price Obligations
10. Purchase Price Obligations

In connection with prior acquisitions, we were obligated to issue contingent consideration. At December 31, 2017, the remaining obligation relates to the acquisition of Energy Source, which will be settled in shares of common stock during the first quarter of 2018. Changes in the fair value of purchase price obligations during the year ended December 31, 2017 were as follows:

 

     December 31,  
     2017      2016  

Fair value, January 1

   $ 3.0      $ 8.8  

Fair value of acquisition liabilities paid (1)

     (1.5      (7.6

Fair value of consideration issued

     —          4.1  

Change in fair value (2)

     (1.4      (2.3
  

 

 

    

 

 

 

Fair value, December 31

   $ 0.1      $ 3.0  
  

 

 

    

 

 

 

 

(1) Acquisition liabilities settled in common stock totaled $1.2 million and $6.6 million during 2017 and 2016, respectively.
(2) Change in fair value includes a reduction due to a change in assumptions utilized in the calculation of purchase price obligations and not meeting applicable thresholds, which were recorded in “Acquisition, severance and transition costs” on the Consolidated Statements of Operations.