0001027884-15-000148.txt : 20150428 0001027884-15-000148.hdr.sgml : 20150428 20150427175541 ACCESSION NUMBER: 0001027884-15-000148 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150427 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150428 DATE AS OF CHANGE: 20150427 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHICAGO BRIDGE & IRON CO N V CENTRAL INDEX KEY: 0001027884 STANDARD INDUSTRIAL CLASSIFICATION: CONSTRUCTION SPECIAL TRADE CONTRACTORS [1700] IRS NUMBER: 000000000 STATE OF INCORPORATION: P7 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12815 FILM NUMBER: 15796162 BUSINESS ADDRESS: STREET 1: PRINSES BEATRIXLAAN 35 CITY: THE HAGUE STATE: P7 ZIP: 2595 AK BUSINESS PHONE: 31-70-373-2010 MAIL ADDRESS: STREET 1: PRINSES BEATRIXLAAN 35 CITY: THE HAGUE STATE: P7 ZIP: 2595 AK 8-K 1 a201504278-k.htm FORM 8-K 2015.04.27 8-K


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): April 27, 2015
 
 
CHICAGO BRIDGE & IRON COMPANY N.V.
(Exact name of registrant as specified in its charter)
 
The Netherlands
(State or other jurisdiction of incorporation)
 
 
1-12815
N.A.
(Commission File Number)
(IRS Employer Identification No.)
 
Prinses Beatrixlaan 35
 
2595 AK The Hague
 
The Netherlands
N.A.
(Address of principal executive offices)
(Zip Code)
 
Registrant's telephone number, including area code: 31-70-373-2010
 
N.A.
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2 below):
¨ 
Written Communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Item 2.02
Results of Operations and Financial Condition
As disclosed in the Quarterly Report on Form 10-Q of Chicago Bridge & Iron Company N.V. (the "Company") for the period ended March 31, 2015, filed with the United States Securities and Exchange Commission on April 24, 2015, during the three months ended March 31, 2015, the Company realigned its four operating groups (which also represent its reportable segments) to reflect the present management oversight of its operations: (1) Engineering & Construction (formerly Engineering, Construction & Maintenance); (2) Fabrication Services; (3) Technology; and (4) Capital Services (formerly Environmental Solutions). The Company's maintenance business that was previously reported within its Engineering & Construction operating group is now reported within its Capital Services operating group, and the Company's engineered products business that was previously reported within its Technology operating group is now reported within its Fabrication Services operating group. The Company reclassified its 2014 segment results presented in the aforementioned Quarterly Report on Form 10-Q to conform to the 2015 presentation.
To further assist investors in comparing the Company's realigned segment results for the period ended March 31, 2015 and for future periods to historical segment results, Exhibit 99.1 furnished with this Current Report on Form 8-K reflects the Company's unaudited new awards, revenue and income from operations by segment for the years ended December 31, 2014, 2013 and 2012, adjusted for the reclassification of amounts related to the Company's operating group realignment, to conform to the 2015 presentation.
The information in this Item 2.02 and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01
Financial Statements and Exhibits
(d)
Exhibits
 
99.1 – Supplemental Historical Segment Information For Chicago Bridge & Iron Company N.V.












SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
CHICAGO BRIDGE & IRON COMPANY N.V.
 
 
 
By:
Chicago Bridge & Iron Company B.V.
 
 
 
Its:
Managing Director
 
 
 
 
 
 
 
 
 
Date:
April 27, 2015
 
By: 
/s/ Michael S. Taff
 
 
 
 
Michael S. Taff
Managing Director
(Principal Financial Officer)






EXHIBIT INDEX
 

Exhibit Number
Exhibit Description
99.1
Supplemental Historical Segment Information For Chicago Bridge & Iron Company N.V.



 EX-99.1 2 ex99120150427.htm EXHIBIT 99.1 EX 99.1 2015.04.27
Exhibit 99.1

Chicago Bridge & Iron Company N.V.
(unaudited)
 
 
Years Ended December 31,
 
 
(In thousands)
 
 
2014
 
% of
Total
 
2013
 
% of
Total
 
2012
 
% of
Total
New Awards
 
 
 
 
 
 
 
 
 
 
 
 
Engineering & Construction
 
$
10,101,263

 
62%
 
$
7,014,307

 
57%
 
$
5,115,271

 
70%
Fabrication Services
 
2,422,580

 
15%
 
2,877,308

 
23%
 
1,690,975

 
23%
Technology
 
387,010

 
2%
 
438,268

 
4%
 
499,724

 
7%
Capital Services
 
3,354,420

 
21%
 
1,923,087

 
16%
 
—

 
—%
Total new awards
 
$
16,265,273

 
 
 
$
12,252,970

 
 
 
$
7,305,970

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2014
 
% of
Total
 
2013
 
% of
Total
 
2012
 
% of
Total
Revenue
 
 
 
 
 
 
 
 
 
 
 
 
Engineering & Construction
 
$
7,623,381

 
59%
 
$
6,215,235

 
56%
 
$
3,305,377

 
60%
Fabrication Services
 
2,738,981

 
21%
 
2,777,384

 
25%
 
1,831,609

 
34%
Technology
 
385,126

 
3%
 
397,408

 
4%
 
348,220

 
6%
Capital Services
 
2,227,442

 
17%
 
1,704,500

 
15%
 
—

 
—%
Total revenue
 
$
12,974,930

 
 
 
$
11,094,527

 
 
 
$
5,485,206

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2014
 
% of
Revenue
 
2013
 
% of
Revenue
 
2012
 
% of
Revenue
Income From Operations
 
 
 
 
 
 
 
 
 
 
 
 
Engineering & Construction
 
$
518,671

 
6.8%
 
$
316,737

 
5.1%
 
$
168,467

 
5.1%
Fabrication Services
 
274,487

 
10.0%
 
287,942

 
10.4%
 
197,843

 
10.8%
Technology
 
147,782

 
38.4%
 
128,643

 
32.4%
 
100,333

 
28.8%
Capital Services
 
81,353

 
3.7%
 
46,923

 
2.8%
 
—

 
—%
Total operating groups
 
1,022,293

 
7.9%
 
780,245

 
7.0%
 
466,643

 
8.5%
Acquisition and integration related costs
 
(39,685
)
 
 
 
(95,737
)
 
 
 
(11,000
)
 
 
Total income from operations
 
$
982,608

 
7.6%
 
$
684,508

 
6.2%
 
$
455,643

 
8.3%