ACQUISITIONS Franchisee Acquisitions - 2018 During 2018, the Company acquired 152 Aaron's-branded franchised stores operated by franchisees for an aggregate purchase price of $189.8 million , exclusive of the settlement of pre-existing receivables and post-closing working capital settlements. The acquired operations generated revenues of $45.9 million and $94.8 million during the three and six months ended June 30, 2019 , respectively, and $4.0 million and $5.2 million during the comparable prior year periods. The acquired operations generated losses before income taxes of $1.1 million and earnings before income taxes of $1.5 million during the three and six months ended June 30, 2019 , respectively, and earnings before income taxes of $0.6 million and $0.8 million during the comparable prior year periods. The revenues and earnings before income taxes described above are included in our condensed consolidated statements of earnings for the respective periods. The results of the acquired operations were negatively impacted by acquisition-related transaction and transition costs, amortization expense of the various intangible assets recorded from the acquisitions, and restructuring charges incurred under the 2019 restructuring program associated with the closure of a number of acquired stores. The revenues and earnings before income taxes of the acquired operations discussed above have not been adjusted for estimated non-retail sales and franchise royalties and fees and related expenses that the Company could have generated as revenue and expenses to the Company from the franchisees during the three and six months ended June 30, 2019 and 2018 had the transaction not been completed. Acquisition Accounting The 2018 acquisitions are benefiting the Company's omnichannel platform through added scale, strengthening its presence in certain geographic markets, and enhancing operational control, including compliance, and enabling the Company to execute its business transformation initiatives on a broader scale. The following table presents summaries of the preliminary fair value of the assets acquired and liabilities assumed in the franchisee acquisitions as of the respective acquisition dates: (In Thousands) Amounts Recognized as of Acquisition Dates (as of March 31, 2019) 1 Acquisition Accounting Adjustments Amounts Recognized as of Acquisition Dates (as of June 30, 2019) Purchase Price $ 189,826 $ 341 $ 190,167 Add: Settlement of Pre-existing Relationship 5,405  5,405 Less: Working Capital Adjustments 155  155 Aggregate Consideration Transferred 195,386 341 195,727 Estimated Fair Value of Identifiable Assets Acquired and Liabilities Assumed Cash and Cash Equivalents 50  50 Lease Merchandise 59,616  59,616 Property, Plant and Equipment 5,568  5,568 Operating Lease Right-of-Use Assets    Other Intangibles 2 24,498  24,498 Prepaid Expenses and Other Assets 1,206  1,206 Total Identifiable Assets Acquired 90,938  90,938 Accounts Payable and Accrued Expenses (910 ) (67 ) (977 ) Customer Deposits and Advance Payments (5,156 )  (5,156 ) Total Liabilities Assumed (6,066 ) (67 ) (6,133 ) Goodwill 3 110,514 408 110,922 Net Assets Acquired $ 84,872 $ (67 ) $ 84,805 1 As previously reported in Note 2 to the condensed consolidated financial statements as of March 31, 2019. 2 Identifiable intangible assets are further disaggregated in the table set forth below. 3 The total goodwill recognized in conjunction with the franchisee acquisitions, all of which is expected to be deductible for tax purposes, has been assigned to the Aarons Business reporting unit. The purchase price exceeded the fair value of the net assets acquired, which resulted in the recognition of goodwill, primarily due to synergies created from the expected future benefits to the Companys omnichannel platform, implementation of the Companys operational capabilities, expected inventory supply chain synergies between the Aarons Business and Progressive Leasing, and control of the Companys brand name in new geographic markets. Goodwill also includes certain other intangible assets that do not qualify for separate recognition, such as an assembled workforce. The preliminary acquisition accounting presented above is subject to refinement. The Company is still finalizing the valuation of assumed favorable and unfavorable real estate operating leases based on comparable market terms of similar leases at the acquisition dates and obtaining additional information regarding other assets. The Company expects these items to be finalized prior to the one-year anniversary date of the acquisitions. The estimated intangible assets attributable to the franchisee acquisitions are comprised of the following: Fair Value (In Thousands) Weighted Average Life (In Years) Non-compete Agreements $ 1,872 3.0 Customer Lease Contracts 7,876 1.0 Customer Relationships 10,087 3.0 Reacquired Franchise Rights 4,663 3.9 Total Acquired Intangible Assets 1 $ 24,498 1 Acquired definite-lived intangible assets have a total weighted average life of 2.5 years. The Company incurred $1.6 million of acquisition-related costs in connection with the franchisee acquisitions, substantially all of which were incurred during 2018. These costs were included in operating expenses in the condensed consolidated statements of earnings. Other Acquisitions In addition to the acquisitions discussed above, the Company acquired the store operations of five franchisees during the six months ended June 30, 2019 and the six months ended June 30, 2018 . Net cash outflows related to the acquisitions of other Aaron's franchisees, other rent-to-own store businesses, and customer contracts aggregated to $7.6 million and $14.4 million during the six months ended June 30, 2019 and 2018 , respectively. The effect of these acquisitions on the condensed consolidated financial statements for the three and six months ended June 30, 2019 and 2018 was not significant.