Business Segments

9 Months Ended

Sep. 30, 2014

Business Segments [Abstract]

Business Segments

(12)     Business Segments

The Company’s chief operating decision maker is the Chairman and Chief Executive Officer, who decides how to allocate resources and assess performance of the business segments. Generally, the Company evaluates performance of its operating segments on the basis of income from construction operations and cash flow.

As discussed in Note 6, during the first quarter of 2014, the Company completed a reorganization which resulted in the elimination of the Management Services reporting unit and reportable segment. The Management Services reporting unit formerly consisted of the following subsidiary companies: Black Construction and Perini Management Services. The reorganization was completed due to the unit no longer meeting the criteria set forth in FASB ASC Topic 280, “Segment Reporting”.

The following table sets forth certain reportable segment information relating to the Company’s operation for the three and nine months ended September 30, 2014 and 2013 (in thousands). In accordance with the accounting guidance on segment reporting, the Company has restated the comparative prior period information for the reorganized reportable segments:

	Reportable Segments
					Specialty							Consolidated
(in thousands)	Civil			Building	Contractors		Totals		Corporate			Total
Three Months Ended September 30, 2014
Total revenues	$	496,142	$	420,404	$	355,932	$	1,272,478	$	—		$	1,272,478
Elimination of intersegment revenues		(13,472)		(8,317)		—		(21,789)		—			(21,789)
Revenues from external customers	$	482,670	$	412,087	$	355,932	$	1,250,689	$	—		$	1,250,689
Income from construction operations	$	53,684	$	19,159	$	10,876	$	83,719	$	(13,365)	*	$	70,354
Three Months Ended September 30, 2013
Total revenues	$	401,976	$	366,833	$	287,633	$	1,056,442	$	—		$	1,056,442
Elimination of intersegment revenues		(4,270)		(21,784)		—		(26,054)		—			(26,054)
Revenues from external customers	$	397,706	$	345,049	$	287,633	$	1,030,388	$	—		$	1,030,388
Income from construction operations	$	49,559	$	12,847	$	9,312	$	71,718	$	(13,624)	*	$	58,094
	Reportable Segments
					Specialty							Consolidated
(in thousands)	Civil			Building	Contractors		Totals		Corporate			Total
Nine Months Ended September 30, 2014
Total revenues	$	1,270,657	$	1,122,072	$	970,036	$	3,362,765	$	—		$	3,362,765
Elimination of intersegment revenues		(32,292)		(40,041)		—		(72,333)		—			(72,333)
Revenues from external customers	$	1,238,365	$	1,082,031	$	970,036	$	3,290,432	$	—		$	3,290,432
Income from construction operations	$	156,031	$	28,656	$	31,326	$	216,013	$	(38,719)	*	$	177,294
Nine Months Ended September 30, 2013
Total revenues	$	1,063,937	$	1,261,665	$	873,544		3,199,146		—			3,199,146
Elimination of intersegment revenues		(66,073)		(56,682)		(10)		(122,765)		—			(122,765)
Revenues from external customers	$	997,864	$	1,204,983	$	873,534	$	3,076,381	$	—		$	3,076,381
Income from construction operations	$	104,483	$	20,855	$	44,583	$	169,921	$	(36,274)	*	$	133,647

*  Consists primarily of corporate general and administrative expenses.

The following table set forth certain reportable segment information relating to the Company’s total assets as of September 30, 2014 and December 31, 2013 (in thousands):

	September 30, 2014		December 31, 2013
Building		665,267		663,314
Civil		1,764,712		1,384,937
Specialty Contractors		803,051		734,079
	$	3,233,030	$	2,782,330
Corporate *		602,490		615,108
Total	$	3,835,520	$	3,397,438

*  Consists principally of Cash and Cash Equivalents and corporate transportation equipment.