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Business Segments (Tables)
 12 Months Ended
Dec. 31, 2015
Business Segments [Abstract]  
Reportable Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reportable Segments

 

 

 

 

 

 

 

 

 

 

 

Specialty

 

Segment

 

 

 

Consolidated

(in thousands)

Civil

 

Building

 

Contractors

 

Total

 

Corporate

 

Total

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenue

$

 2,005,193 

 

$

 1,900,492 

 

$

 1,228,030 

 

$

 5,133,715 

 

$

 —

 

$

 5,133,715 

Elimination of intersegment revenue

 

 (115,286)

 

 

 (97,957)

 

 

 —

 

 

 (213,243)

 

 

 —

 

 

 (213,243)

Revenue from external customers

$

 1,889,907 

 

$

 1,802,535 

 

$

 1,228,030 

 

$

 4,920,472 

 

$

 —

 

$

 4,920,472 

Income from construction operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Before litigation-related charge

$

 169,073 

 

$

 (1,240)

 

$

 15,682 

 

$

 183,515 

 

$

 (54,242)

(a)

$

 129,273 

Litigation-related charge (b)

 

 (23,860)

 

 

 —

 

 

 —

 

 

 (23,860)

 

 

 —

 

 

 (23,860)

Total

$

 145,213 

 

$

 (1,240)

 

$

 15,682 

 

$

 159,655 

 

$

 (54,242)

 

$

 105,413 

Capital Expenditures

$

 8,383 

 

$

 2,877 

 

$

 1,193 

 

$

 12,453 

 

$

 23,459 

 

$

 35,912 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenue

$

 1,730,468 

 

$

 1,558,431 

 

$

 1,301,328 

 

$

 4,590,227 

 

$

 —

 

$

 4,590,227 

Elimination of intersegment revenue

 

 (43,324)

 

 

 (54,594)

 

 

 —

 

 

 (97,918)

 

 

 —

 

 

 (97,918)

Revenue from external customers

$

 1,687,144 

 

$

 1,503,837 

 

$

 1,301,328 

 

$

 4,492,309 

 

$

 —

 

$

 4,492,309 

Income from construction operations

 

 220,554 

 

 

 24,697 

 

 

 50,998 

 

 

 296,249 

 

 

 (54,559)

(a)

 

 241,690 

Capital Expenditures

$

 65,377 

 

$

 735 

 

$

 6,974 

 

$

 73,086 

 

$

 1,927 

 

$

 75,013 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenue

$

 1,519,370 

 

$

 1,622,705 

 

$

 1,182,844 

 

$

 4,324,919 

 

$

 —

 

$

 4,324,919 

Elimination of intersegment revenue

 

 (77,954)

 

 

 (70,726)

 

 

 (567)

 

 

 (149,247)

 

 

 —

 

 

 (149,247)

Revenue from external customers

$

 1,441,416 

 

$

 1,551,979 

 

$

 1,182,277 

 

$

 4,175,672 

 

$

 —

 

$

 4,175,672 

Income from construction operations

 

 177,667 

 

 

 24,579 

 

 

 49,008 

 

 

 251,254 

 

 

 (47,432)

(a)

 

 203,822 

Capital Expenditures

$

 32,489 

 

$

 1,666 

 

$

 4,137 

 

$

 38,292 

 

$

 6,999 

 

$

 45,291 

(a)

Consists primarily of corporate general and administrative expenses.

(b)

The Company recorded a non-cash, pre-tax charge of $23.9 million for an adverse appellate court decision related to a long-standing litigation matter for which the Company, as part of a 2011 acquisition, assumed liability as a minority partner in a joint venture for a project that had already been completed. (For further information, refer to the Brightwater Matter discussion in Note 7.)
Total Assets for Reportable Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

(in thousands)

2015

 

2014

Building

$

 798,022 

 

$

 680,933 

Civil

 

 1,964,674 

 

 

 1,814,170 

Specialty Contractors

 

 863,242 

 

 

 775,162 

Corporate and other (a)

 

 416,503 

 

 

 503,050 

Total Assets

$

 4,042,441 

 

$

 3,773,315 

(a)

Consists principally of cash and cash equivalents and corporate transportation equipment.
Principal Geographical Areas

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

(in thousands)

2015

 

2014

 

2013

Revenue

 

 

 

 

 

 

 

 

United States

$

 4,694,165 

 

$

 4,323,471 

 

$

 4,000,380 

Foreign and U.S. territories

 

 226,307 

 

 

 168,838 

 

 

 175,292 

Total

$

 4,920,472 

 

$

 4,492,309 

 

$

 4,175,672 

 

 

 

 

 

 

 

 

 

Income (loss) from construction operations

 

 

 

 

 

 

 

 

United States

$

 128,869 

 

$

 268,566 

 

$

 238,989 

Foreign and U.S. territories

 

 30,786 

 

 

 27,683 

 

 

 12,265 

Corporate

 

 (54,242)

 

 

 (54,559)

 

 

 (47,432)

Total

$

 105,413 

 

$

 241,690 

 

$

 203,822 

 

Income from Construction Operations Allocated Geographically Based on Location of Job Site

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

(in thousands)

2015

 

2014

Assets

 

 

 

 

 

United States

$

 3,868,449 

 

$

 3,612,997 

Foreign and U.S. territories

 

 173,992 

 

 

 160,318 

Total Assets

$

 4,042,441 

 

$

 3,773,315 

 

Reconciliation of Segment Results to Consolidated Income Before Income Taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

(in thousands)

2015

 

2014

 

2013

Income from construction operations

$

 105,413 

 

$

 241,690 

 

$

 203,822 

Other income (expense), net

 

 12,453 

 

 

 (9,536)

 

 

 (18,575)

Interest expense

 

 (44,027)

 

 

 (44,716)

 

 

 (45,632)

Income before income taxes

$

 73,839 

 

$

 187,438 

 

$

 139,615