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Business Segments (Tables)
 6 Months Ended
Jun. 30, 2017
Business Segments [Abstract]  
Reportable Segments



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Reportable Segments

 

 

 

 

 

 



 

 

 

 

 

 

Specialty

 

 

 

 

 

 

 

Consolidated

(in thousands)

Civil

 

 

Building

 

Contractors

 

Total

 

Corporate

 

Total

Three Months Ended June 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

$

 538,552 

 

$

 508,769 

 

$

 281,857 

 

$

 1,329,178 

 

$

 —

 

$

 1,329,178 

Elimination of intersegment revenue

 

 (65,970)

 

 

 (15,934)

 

 

 —

 

 

 (81,904)

 

 

 —

 

 

 (81,904)

Revenue from external customers

$

 472,582 

 

$

 492,835 

 

$

 281,857 

 

$

 1,247,274 

 

$

 —

 

$

 1,247,274 

Income from construction operations

$

 58,144 

 

$

 5,736 

 

$

 (14,007)

 

$

 49,873 

 

$

 (15,828)

(a)

$

 34,045 

Capital expenditures

$

 1,850 

 

$

 104 

 

$

 286 

 

$

 2,240 

 

$

 271 

 

$

 2,511 

Depreciation and amortization (b)

$

 5,236 

 

$

 513 

 

$

 1,193 

 

$

 6,942 

 

$

 2,820 

 

$

 9,762 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

$

 504,930 

 

$

 546,157 

 

$

 318,902 

 

$

 1,369,989 

 

$

 —

 

$

 1,369,989 

Elimination of intersegment revenue

 

 (39,223)

 

 

 (22,636)

 

 

 —

 

 

 (61,859)

 

 

 —

 

 

 (61,859)

Revenue from external customers

$

 465,707 

 

$

 523,521 

 

$

 318,902 

 

$

 1,308,130 

 

$

 —

 

$

 1,308,130 

Income from construction operations

$

 45,056 

 

$

 13,223 

 

$

 5,413 

 

$

 63,692 

 

$

 (14,863)

(a)

$

 48,829 

Capital expenditures

$

 3,545 

 

$

 81 

 

$

 119 

 

$

 3,745 

 

$

 124 

 

$

 3,869 

Depreciation and amortization (b)

$

 12,447 

 

$

 549 

 

$

 1,263 

 

$

 14,259 

 

$

 2,887 

 

$

 17,146 

____________________________________________________________________________________________________

(a)Consists primarily of corporate general and administrative expenses.

(b)

Depreciation and amortization is included in income from construction operations.







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Reportable Segments

 

 

 

 

 

 



 

 

 

 

 

 

Specialty

 

 

 

 

 

 

 

Consolidated

(in thousands)

Civil

 

 

Building

 

Contractors

 

Total

 

Corporate

 

Total

Six Months Ended June 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

$

 905,363 

 

$

 1,019,936 

 

$

 597,553 

 

$

 2,522,852 

 

$

 —

 

$

 2,522,852 

Elimination of intersegment revenue

 

 (128,206)

 

 

 (30,011)

 

 

 —

 

 

 (158,217)

 

 

 —

 

 

 (158,217)

Revenue from external customers

$

 777,157 

 

$

 989,925 

 

$

 597,553 

 

$

 2,364,635 

 

$

 —

 

$

 2,364,635 

Income from construction operations

$

 90,032 

 

$

 10,977 

 

$

 755 

 

$

 101,764 

 

$

 (30,702)

(a)

$

 71,062 

Capital expenditures

$

 7,417 

 

$

 148 

 

$

 293 

 

$

 7,858 

 

$

 325 

 

$

 8,183 

Depreciation and amortization (b)

$

 21,554 

 

$

 1,031 

 

$

 2,385 

 

$

 24,970 

 

$

 5,788 

 

$

 30,758 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

$

 872,431 

 

$

 1,034,151 

 

$

 600,675 

 

$

 2,507,257 

 

$

 —

 

$

 2,507,257 

Elimination of intersegment revenue

 

 (70,866)

 

 

 (42,892)

 

 

 —

 

 

 (113,758)

 

 

 —

 

 

 (113,758)

Revenue from external customers

$

 801,565 

 

$

 991,259 

 

$

 600,675 

 

$

 2,393,499 

 

$

 —

 

$

 2,393,499 

Income from construction operations

$

 78,721 

 

$

 25,673 

 

$

 14,826 

 

$

 119,220 

 

$

 (30,269)

(a)

$

 88,951 

Capital expenditures

$

 7,157 

 

$

 302 

 

$

 744 

 

$

 8,203 

 

$

 478 

 

$

 8,681 

Depreciation and amortization (b)

$

 20,531 

 

$

 1,106 

 

$

 2,568 

 

$

 24,205 

 

$

 5,751 

 

$

 29,956 

____________________________________________________________________________________________________

(a)Consists primarily of corporate general and administrative expenses.

(b)Depreciation and amortization is included in income from construction operations.

Reconciliation of Segment Results to Consolidated Income Before Income Taxes



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Three Months Ended June 30,

 

Six Months Ended June 30,

(in thousands)

2017

 

2016

 

2017

 

2016

Income from construction operations

$

 34,045 

 

$

 48,829 

 

$

 71,062 

 

$

 88,951 

Other income, net

 

 40,990 

 

 

 2,485 

 

 

 41,406 

 

 

 3,166 

Interest expense

 

 (22,519)

 

 

 (15,534)

 

 

 (38,083)

 

 

 (29,614)

Income before income taxes

$

 52,516 

 

$

 35,780 

 

$

 74,385 

 

$

 62,503 



Schedule of Assets by Segment



 

 

 

 

 



 

 

 

 

 

(in thousands)

June 30, 2017

 

December 31, 2016

Civil

$

 2,311,858 

 

$

 2,152,123 

Building

 

 878,501 

 

 

 917,317 

Specialty Contractors

 

 844,919 

 

 

 813,851 

Corporate and other (a)

 

 129,588 

 

 

 155,329 

Total assets

$

 4,164,866 

 

$

 4,038,620 

____________________________________________________________________________________________________

Consists principally of cash, equipment, tax-related assets and insurance-related assets, offset by the elimination of assets related to intersegment revenue.