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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]  
Costs and Estimated Earnings in Excess of Billings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31,

(in thousands)

2015

 

2014

Claims

$

407,164 

 

$

311,949 

Unapproved change orders

 

270,019 

 

 

161,375 

Other unbilled costs and profits

 

227,992 

 

 

253,078 

Total costs and estimated earnings in excess of billings

$

905,175 

 

$

726,402 

 

Calculations of Basic and Diluted EPS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

(in thousands, except per share data)

2015

 

2014

 

2013

Net income

$

45,292 

 

$

107,936 

 

$

87,296 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding - basic

 

48,981 

 

 

48,562 

 

 

47,851 

Effect of diluted stock options and unvested restricted stock

 

685 

 

 

552 

 

 

738 

Weighted-average common shares outstanding - diluted

 

49,666 

 

 

49,114 

 

 

48,589 

 

 

 

 

 

 

 

 

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

Basic

$

0.92 

 

$

2.22 

 

$

1.82 

Diluted

$

0.91 

 

$

2.20 

 

$

1.80 

Anti-dilutive securities not included above

 

1,372 

 

 

 

 

860 

 

Cash and Cash Equivalents and Restricted Cash

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31,

(in thousands)

2015

 

2014

Cash and cash equivalents

$

18,409 

 

$

40,846 

Company's share of joint venture cash and cash equivalents

 

57,043 

 

 

94,737 

Total cash and cash equivalents

$

75,452 

 

$

135,583 

 

 

 

 

 

 

Restricted cash

$

45,853 

 

$

44,370 

 

Tax Effects of Componenets of Other Comprehensive Income (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2015

 

2014

 

2013

(in thousands)

Before-Tax Amount

 

Tax (Expense) Benefit

 

Net-of-Tax Amount

 

Before-Tax Amount

 

Tax (Expense) Benefit

 

Net-of-Tax Amount

 

Before-Tax Amount

 

Tax (Expense) Benefit

 

Net-of-Tax Amount

Other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Defined benefit pension plan adjustments

$

31 

 

$

1,995 

 

$

2,026 

 

$

(13,887)

 

$

5,732 

 

$

(8,155)

 

$

18,675 

 

$

(7,765)

 

$

10,910 

Foreign currency translation adjustment

 

(5,897)

 

 

2,683 

 

 

(3,214)

 

 

(1,086)

 

 

448 

 

 

(638)

 

 

(1,212)

 

 

474 

 

 

(738)

Unrealized gain (loss) in fair value of investments

 

1,123 

 

 

(357)

 

 

766 

 

 

346 

 

 

(141)

 

 

205 

 

 

(744)

 

 

189 

 

 

(555)

Unrealized gain (loss) in fair value of interest rate swap

 

(37)

 

 

(88)

 

 

(125)

 

 

594 

 

 

(245)

 

 

349 

 

 

948 

 

 

(370)

 

 

578 

Total other comprehensive income (loss)

$

(4,780)

 

$

4,233 

 

$

(547)

 

$

(14,033)

 

$

5,794 

 

$

(8,239)

 

$

17,667 

 

$

(7,472)

 

$

10,195 

 

Changes in AOCI Balances by Component

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

Defined Benefit Pension Plan

 

Foreign Currency Translation

 

Unrealized Gain (Loss) in Fair Value of Investments

 

Unrealized Gain (Loss) in Fair Value of Interest Rate Swap

 

Accumulated Other Comprehensive Income
(Loss), Net

Balance as of December 31, 2012

$

(43,023)

 

$

(13)

 

$

240 

 

$

(778)

 

$

(43,574)

Other comprehensive income (loss)

 

10,910 

 

 

(738)

 

 

(555)

 

 

578 

 

 

10,195 

Balance as of December 31, 2013

$

(32,113)

 

$

(751)

 

$

(315)

 

$

(200)

 

$

(33,379)

Other comprehensive income (loss)

 

(8,155)

 

 

(638)

 

 

205 

 

 

349 

 

 

(8,239)

Balance as of December 31, 2014

$

(40,268)

 

$

(1,389)

 

$

(110)

 

$

149 

 

$

(41,618)

Other comprehensive income (loss)

 

2,026 

 

 

(3,214)

 

 

766 

 

 

(125)

 

 

(547)

Balance as of December 31, 2015

$

(38,242)

 

$

(4,603)

 

$

656 

 

$

24 

 

$

(42,165)

 

 

 

(1) There were no reclassifications from AOCI during the three years ended December 31, 2015.