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Business Segments (Tables)
 9 Months Ended
Sep. 30, 2017
Business Segments [Abstract]  
Reportable Segments



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Reportable Segments

 

 

 

 

 

 



 

 

 

 

 

 

Specialty

 

 

 

 

 

 

 

Consolidated

(in thousands)

Civil

 

 

Building

 

Contractors

 

Total

 

Corporate

 

Total

Three Months Ended September 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

$

 458,487 

 

$

 500,420 

 

$

 310,137 

 

$

 1,269,044 

 

$

 —

 

$

 1,269,044 

Elimination of intersegment revenue

 

 (62,667)

 

 

 (6,872)

 

 

 —

 

 

 (69,539)

 

 

 —

 

 

 (69,539)

Revenue from external customers

$

 395,820 

 

$

 493,548 

 

$

 310,137 

 

$

 1,199,505 

 

$

 —

 

$

 1,199,505 

Income from construction operations

$

 38,144 

 

$

 14,058 

 

$

 14,575 

 

$

 66,777 

 

$

 (17,705)

(a)

$

 49,072 

Capital expenditures

$

 1,248 

 

$

 36 

 

$

 81 

 

$

 1,365 

 

$

 164 

 

$

 1,529 

Depreciation and amortization (b)

$

 5,213 

 

$

 502 

 

$

 1,166 

 

$

 6,881 

 

$

 2,824 

 

$

 9,705 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

$

 506,100 

 

$

 560,795 

 

$

 331,613 

 

$

 1,398,508 

 

$

 —

 

$

 1,398,508 

Elimination of intersegment revenue

 

 (47,277)

 

 

 (18,253)

 

 

 —

 

 

 (65,530)

 

 

 —

 

 

 (65,530)

Revenue from external customers

$

 458,823 

 

$

 542,542 

 

$

 331,613 

 

$

 1,332,978 

 

$

 —

 

$

 1,332,978 

Income from construction operations

$

 50,307 

 

$

 13,296 

 

$

 11,084 

 

$

 74,687 

 

$

 (13,768)

(a)

$

 60,919 

Capital expenditures

$

 1,342 

 

$

 79 

 

$

 54 

 

$

 1,475 

 

$

 117 

 

$

 1,592 

Depreciation and amortization (b)

$

 12,669 

 

$

 541 

 

$

 1,243 

 

$

 14,453 

 

$

 2,886 

 

$

 17,339 

(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

Nine Months Ended September 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

$

 1,363,850 

 

$

 1,520,356 

 

$

 907,690 

 

$

 3,791,896 

 

$

 —

 

$

 3,791,896 

Elimination of intersegment revenue

 

 (190,873)

 

 

 (36,883)

 

 

 —

 

 

 (227,756)

 

 

 —

 

 

 (227,756)

Revenue from external customers

$

 1,172,977 

 

$

 1,483,473 

 

$

 907,690 

 

$

 3,564,140 

 

$

 —

 

$

 3,564,140 

Income from construction operations

$

 128,176 

 

$

 25,035 

 

$

 15,330 

 

$

 168,541 

 

$

 (48,407)

(a)

$

 120,134 

Capital expenditures

$

 8,665 

 

$

 184 

 

$

 374 

 

$

 9,223 

 

$

 489 

 

$

 9,712 

Depreciation and amortization (b)

$

 26,767 

 

$

 1,533 

 

$

 3,551 

 

$

 31,851 

 

$

 8,612 

 

$

 40,463 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

$

 1,378,531 

 

$

 1,594,946 

 

$

 932,288 

 

$

 3,905,765 

 

$

 —

 

$

 3,905,765 

Elimination of intersegment revenue

 

 (118,143)

 

 

 (61,145)

 

 

 —

 

 

 (179,288)

 

 

 —

 

 

 (179,288)

Revenue from external customers

$

 1,260,388 

 

$

 1,533,801 

 

$

 932,288 

 

$

 3,726,477 

 

$

 —

 

$

 3,726,477 

Income from construction operations

$

 129,028 

 

$

 38,969 

 

$

 25,910 

 

$

 193,907 

 

$

 (44,037)

(a)

$

 149,870 

Capital expenditures

$

 8,499 

 

$

 381 

 

$

 798 

 

$

 9,678 

 

$

 595 

 

$

 10,273 

Depreciation and amortization (b)

$

 33,200 

 

$

 1,647 

 

$

 3,811 

 

$

 38,658 

 

$

 8,637 

 

$

 47,295 

(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 September 30,

 

Nine Months Ended September 30,

(in thousands)

2017

 

2016

 

2017

 

2016

Income from construction operations

$

 49,072 

 

$

 60,919 

 

$

 120,134 

 

$

 149,870 

Other income, net

 

 967 

 

 

 2,048 

 

 

 42,373 

 

 

 5,214 

Interest expense

 

 (15,643)

 

 

 (15,041)

 

 

 (53,726)

 

 

 (44,655)

Income before income taxes

$

 34,396 

 

$

 47,926 

 

$

 108,781 

 

$

 110,429 



Schedule of Assets by Segment





 

 

 

 

 



 

 

 

 

 

(in thousands)

September 30, 2017

 

December 31, 2016

Civil

$

 2,273,486 

 

$

 2,152,123 

Building

 

 889,136 

 

 

 917,317 

Specialty Contractors

 

 757,103 

 

 

 813,851 

Corporate and other (a)

 

 363,060 

 

 

 155,329 

Total assets

$

 4,282,785 

 

$

 4,038,620 

(a)

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