4. Acquisitions On April 1, 2011, the Company acquired all of the equity interests of Youth and Family Centered Services, Inc. ("YFCS"). YFCS operates 13 behavioral health facilities across the United States. The preliminary value of the total consideration is approximately $178 million. The qualitative factors comprising goodwill include efficiencies derived through synergies expected by the elimination of certain redundant corporate functions and expenses, the ability to leverage call center referrals to a broader provider base, coordination of services provided across the combined network of facilities, achievement of operating efficiencies by benchmarking performance and applying best practices throughout the combined company. Approximately $26.5 million of the goodwill associated with the YFCS acquisition is deductible for federal income tax purposes. The preliminary fair values of assets acquired and liabilities assumed at the acquisition date, which are subject to revision as more detailed analysis is completed and additional information related to the fair value of intangible assets and other assets acquired and liabilities assumed becomes available, are as follows (in thousands): Cash $ 33 Accounts receivable 17,606 Prepaid expenses and other current assets 2,327 Deferred tax asset current 1,935 Property and equipment 31,641 Goodwill 137,924 Intangible assets 19,421 Other long-term assets 2,219 Total assets acquired 213,106 Accounts payable 3,028 Accrued salaries and benefits 8,878 Other accrued expenses 2,952 Deferred tax liability   long-term 18,691 Other long-term liabilities 1,510 Total liabilities assumed 35,059 Net assets acquired $ 178,047 Transaction-related expenses of $2.2 million and $10.6 million for the three and nine months ended September 30, 2011, respectively, relate to the acquisition of YFCS and the merger with PHC. Transaction-related expenses include $1.4 million related to severance costs for YFCS employees not retained by the Company. Additionally, the Company assumed an obligation