We acquired various environmental services businesses during the years ended December 31, 2023 and 2022. The purchase price paid for these business acquisitions and the allocations of the purchase price follows:


	2023		2022
Purchase price:
Cash used in acquisitions, net of cash acquired of $23.2 and $65.9, respectively	$	1,756.3	$	2,668.6

Holdbacks	19.1		17.2
Fair value, future minimum lease payments	0.6		15.6

Total	$	1,776.0	$	2,701.4
Allocated as follows:
Restricted cash	$	—	$	0.7
Accounts receivable	67.4		250.7
Prepaid expenses	5.6		15.7
Landfill development costs	49.1		565.4
Property and equipment	374.3		540.0
Operating right-of-use lease assets	14.4		61.1
Interest rate swap	—		29.1

Other assets	0.3		40.7
Inventory	2.9		10.7
Accounts payable	(20.6)		(112.4)
Deferred revenue	(10.6)		(28.2)
Environmental remediation liabilities	(5.7)		(57.5)
Closure and post-closure liabilities	(10.9)		(173.3)
Operating right-of-use lease liabilities	(14.4)		(57.1)
Deferred income tax liabilities	(25.0)		(109.3)
Other liabilities	(12.6)		(58.5)
Fair value of tangible assets acquired and liabilities assumed	414.2		917.8
Excess purchase price to be allocated	$	1,361.8	$	1,783.6
Excess purchase price allocated as follows:
Other intangible assets	$	203.9	$	132.9
Goodwill	1,157.9		1,650.7

Total allocated	$	1,361.8	$	1,783.6

Certain of the purchase price allocations are preliminary and based on information existing at the acquisition dates. Accordingly, the purchase price allocations are subject to change. For the acquisitions that closed during 2023, we expect that a majority of the goodwill and intangible assets recognized as a result of these acquisitions will be deductible for tax purposes. Excluding the US Ecology acquisition discussed below, substantially all of the goodwill and intangible assets recorded for acquisitions that closed during 2022 are deductible for tax purposes.

On May 2, 2022, we acquired all outstanding equity of US Ecology in a transaction valued at $2.2 billion. US Ecology is a leading provider of environmental solutions offering treatment, recycling and disposal of hazardous, non-hazardous and specialty waste. As of, June 30, 2023, we finalized the purchase price allocation. We did not step-up the tax basis of the assets recognized in connection with the US Ecology acquisition, and do not expect the goodwill and intangible assets will be deductible for tax purposes.

In 2023 and 2022, we incurred $33.5 million and $77.3 million, respectively, of acquisition integration and deal costs in connection with the acquisition of US Ecology. The 2023 costs primarily related to the integration of certain software systems as well as rebranding of the business, and the 2022 costs included certain costs to close the acquisition and integrate the business.

In June 2023, we acquired a vertically-integrated set of operations located primarily in Colorado from GFL Environmental Inc., including recycling, hauling, transfer and landfill operations. The purchase price allocation is preliminary and remains subject to revision as additional information is obtained about the facts and circumstances that existed at the valuation date. The preliminary allocation of purchase price, including the value assigned to tangible and intangible assets acquired as well as certain landfill and environmental liabilities assumed, is based on the best estimates of management and is subject to revision based on the final valuations. We expect our final valuations to be completed in 2024.

In November 2023, we acquired all of the issued and outstanding capital stock or other ownership interests of Advanced Chemical Transport LLC (ACT). ACT's environmental solutions operations are primarily located in the western United States and provide us with additional growth opportunities in our environmental solutions line of business. The purchase price allocation is preliminary and remains subject to revision as additional information is obtained about the facts and circumstances that existed at the valuation date. The preliminary allocation of purchase price, including the value assigned to tangible and intangible assets acquired, is based on the best estimates of management and is subject to revision based on the final valuations. We expect our final valuations to be completed in 2024.

In December 2023, we acquired all of the issued and outstanding membership and other equity interests of Central Texas Refuse, LLC and an affiliate thereof (CTR). CTR's vertically integrated recycling and waste services operations are located in and around Austin, Texas and provide us with the opportunity to re-enter the high growth Austin market. The purchase price allocation is preliminary and remains subject to revision as additional information is obtained about the facts and circumstances that existed at the valuation date. The preliminary allocation of purchase price, including the value assigned to tangible and intangible assets acquired as well as certain landfill and environmental liabilities assumed, is based on the best estimates of management and is subject to revision based on the final valuations. We expect our final valuations to be completed in 2024.

In 2022, we acquired a non-controlling equity interest in a joint venture with a landfill gas-to-energy developer to construct a number of renewable natural gas projects at our landfills across the United States. As of December 31, 2023 and 2022, we had an investment of approximately $170 million and $100 million, respectively, in the joint venture. During the year ended December 31, 2023, we invested approximately $68 million in the joint venture. The investment is accounted for under the equity method of accounting.

In 2022, we acquired a non-controlling equity interest in a joint venture with Ravago, Blue Polymers, LLC, intended to help create vertical integration in the recycling market, and to further advance circularity by acquiring all olefins produced by the Company's Polymer Centers and produce custom blended pellets for food-grade and non-food-grade packaging. As of December 31, 2023 and 2022, we had an investment of approximately $19 million and $10 million, respectively, in the joint venture. During the year ended December 31, 2023 we invested approximately $9 million in the joint venture. The investment is accounted for under the equity method of accounting.

In 2023 and 2022, we acquired non-controlling equity interests in certain limited liability companies that qualified for investment tax credits under Section 48 of the Internal Revenue Code. In exchange for our non-controlling interests, we made capital contributions of approximately $222 million and $205 million, which were recorded to other assets in our December 31, 2023 and 2022 consolidated balance sheets, respectively. During 2023 and 2022, we reduced the carrying value of these investments by approximately $102 million and $158 million, respectively, as a result of cash distributions and our share of income and loss pursuant to the terms of the limited liability company agreements. Additionally, our tax provisions reflect benefits of approximately $87 million and $139 million for the years end December 31, 2023 and 2022, respectively, due to the tax credits related to these investments. For further discussion of the income tax benefits, refer to Note 11, Income Taxes, in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2023.

In 2023 and 2022, we incurred restructuring charges of $33.2 million and $27.0 million, respectively. Of the 2023 charges, $9.5 million related to early termination of certain leases and $23.7 million related to the redesign of our asset management, and customer and order management software systems, and the 2022 charges primarily related to the redesign of our general ledger, budgeting and procurement enterprise resource planning systems which was completed with systems being placed into production in 2022. We paid $39.4 million and $19.8 million during 2023 and 2022, respectively, related to these restructuring efforts.