Disposition of Assets

6 Months Ended

Jun. 30, 2015

Discontinued Operations and Disposal Groups [Abstract]

Disposition of Assets

Disposition of Assets    

In January 2014, we sold a subsidiary reported in our United States building services segment. Proceeds from the sale totaled approximately $1.1 million. Included in net income for the six months ended June 30, 2014 was a loss of $0.6 million from this sale, which is classified as a component of "Selling, general and administrative expenses" in the Condensed Consolidated Statements of Operations.

Due to recurring losses over the last several years in the construction operations of our United Kingdom segment and our negative assessment of construction market conditions in the United Kingdom for the foreseeable future, we announced during the quarter ended June 30, 2013 our decision to withdraw from the construction market in the United Kingdom. During the third quarter of 2014, we ceased construction operations in the United Kingdom. The results of the construction operations of our United Kingdom segment for all periods are presented in our Condensed Consolidated Financial Statements as discontinued operations.

The results of discontinued operations are as follows (in thousands):

	For the three months ended June 30,						For the six months ended June 30,
	2015			2014			2015			2014
Revenues	$	84		$	5,137		$	360		$	13,983
Loss from discontinued operation, net of income taxes	$	(114	)	$	(1,435	)	$	(469	)	$	(3,476	)
Diluted loss per share from discontinued operation	$	(0.00	)	$	(0.02	)	$	(0.01	)	$	(0.05	)

Included in the Condensed Consolidated Balance Sheets at June 30, 2015 and December 31, 2014 are the following major classes of assets and liabilities associated with the discontinued operation (in thousands):

	June 30, 2015		December 31, 2014
Assets of discontinued operation:
Current assets	$	4,318	$	6,265
Non-current assets	$	114	$	278
Liabilities of discontinued operation:
Current liabilities	$	8,007	$	10,743
Non-current liabilities	$	35	$	94

At June 30, 2015, the assets and liabilities of the discontinued operation consisted of accounts receivable, contract retentions and contract warranty obligations that are expected to be collected or fulfilled in the ordinary course of business. Additionally at June 30, 2015, there remained $1.1 million of obligations related to employee severance and the termination of leased facilities, the majority of which is expected to be paid in 2015. The settlement of the remaining assets and liabilities may result in additional income and/or expenses. Such income and/or expenses are expected to be immaterial and will be reflected as an additional component of “Loss from discontinued operation” as incurred.