2. ACQUISITIONS AND DISPOSITIONS Acquisitions The acquisitions of terminals from an affiliate of Royal Dutch Shell plc ( Shell ) and from affiliates of FRC Founders Corporation ( First Reserve ) and Vopak Bahamas B.V. ( Vopak ), the acquisition of pipeline and terminal assets from BP Products North America Inc. and its affiliates ( BP ) and the acquisition of a pipeline, terminal and equity investment from an affiliate of ExxonMobil Corporation (ExxonMobil) located in Maine have been accounted for as business combinations. The total purchase price for these acquisitions was allocated to the fair value of the assets acquired and the liabilities assumed based on an assessment of their fair values at the acquisition date, with amounts exceeding the fair values being recorded as goodwill. The results of their operations have been included in our condensed consolidated financial statements since their respective acquisition dates. Puerto Rico Terminal Acquisition On December 10, 2010, we, through a wholly owned subsidiary, acquired a refined petroleum products terminal in Yabucoa, Puerto Rico from an affiliate of Shell for $32.8 million, net of cash acquired of $3.5 million. The terminal includes 44 storage tanks with approximately 4.6 million barrels of gasoline, jet fuel, diesel, fuel oil and crude oil storage capacity. Shell entered into a commercial contract with us concurrent with the acquisition regarding usage of the acquired facility. We believe the acquisition of these assets furthers our geographic diversification efforts as this was our first acquisition outside the continental United States and enabled us to participate in a growth market outside our existing system footprint. The operations of these acquired assets are reported in the International Operations segment. The purchase price has been allocated to tangible and intangible assets acquired and liabilities assumed as follows (in thousands): Current assets $ 183 Inventory 867 Property, plant and equipment 31,770 Intangible assets 3,363 Other assets