Discontinued Operations

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Note 4 – Discontinued Operations

Globetec

In 2012, the Company's board of directors approved a plan of sale for Globetec Construction, LLC ("Globetec"). Accordingly, Globetec's projects and assets are reflected as assets and liabilities of discontinued operations, and Globetec's results of operations are presented as discontinued operations in the condensed unaudited consolidated financial statements for all periods presented. Effective August 31, 2013, the Company sold all of its membership interests in Globetec for nominal consideration and retained certain contingent assets and liabilities. As of September 30, 2014, the Company had certain outstanding surety bonds associated with Globetec, for which the work had been substantially completed, and for which the Company believes there was an insignificant amount at risk. The Company is not obligated to support, and does not intend to support, Globetec in the future.

The following table contains a summary of the contingent assets and liabilities associated with Globetec that were retained by the Company as of September 30, 2014 and as of December 31, 2013 (in millions):

	September 30, 2014		December 31, 2013
Current assets	$	5.0	$	2.3
Long-term assets	7.1		10.1
Assets of discontinued operations	$	12.1	$	12.4
Current liabilities of discontinued operations	$	1.2	$	1.2

The following table presents Globetec's results from discontinued operations for the periods indicated (in millions):

	For the Three Months Ended September 30, 2013			For the Nine Months Ended September 30, 2013
Revenue	$	4.8		$	18.0
Loss from operations, before tax	(0.5		)	(2.7		)
Impairment of assets, before tax	(5.7		)	(6.0		)
Income tax benefit	2.5			3.5
Net loss from discontinued operations	$	(3.7	)	$	(5.2	)