XML 99 R83.htm IDEA: XBRL DOCUMENT v3.10.0.1
Business Segments (Reconciliation of Segment Results to Consolidated Income Before Income Taxes) (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Income from construction operations $ 90,680 $ 47,306 $ 54,815 $ (925) $ 59,343 $ 49,072 $ 34,045 $ 37,017 $ 191,876 $ 179,477 $ 201,920
Other income, net                 4,256 43,882 6,977
Interest expense                 (63,519) (69,384) (59,782)
INCOME BEFORE INCOME TAXES 75,152 $ 32,804 $ 39,867 $ (15,210) 45,193 $ 34,396 $ 52,516 $ 21,870 132,613 153,975 149,115
Assets 4,387,752       4,264,123       4,387,752 4,264,123  
Reportable Segments [Member]                      
Income from construction operations                 255,625 [1] 245,344 262,140 [2]
Civil                      
Income from construction operations                 168,256 [1] 192,207 172,668 [2]
Assets 2,574,326       2,452,108       2,574,326 2,452,108  
Building                      
Income from construction operations                 43,939 [1] 34,199 51,564 [2]
Assets 913,746       909,207       913,746 909,207  
Specialty Contractors                      
Income from construction operations                 43,430 [1] 18,938 37,908 [2]
Assets 745,313       767,807       745,313 767,807  
Corporate [Member]                      
Income from construction operations [3]                 (63,749) [1] (65,867) $ (60,220) [2]
Assets [4] $ 154,367       $ 135,001       $ 154,367 $ 135,001  
[1] During the year ended December 31, 2018, the Company recorded a charge of $17.8 million in income from construction operations (an after-tax impact of $12.8 million, or $0.25 per diluted share), which was primarily non-cash, as a result of the unexpected outcome of an arbitration decision related to a subcontract back charge dispute on a Civil segment project in New York that was completed in 2013.
[2] During the year ended December 31, 2016 the Company recorded net favorable adjustments totaling $3.0 million in income from construction operations (an after-tax impact of $1.8 million, or $0.04 per diluted share) for various Five Star Electric projects in New York in the Specialty Contractors segment. The net impact included material adjustments related to two electrical subcontract projects: a favorable adjustment of $14.0 million for a completed project (an after-tax impact of $8.2 million, or $0.17 per diluted share) and an unfavorable adjustment of $13.8 million for a project that was nearly complete (an after-tax impact of $8.1 million, or $0.16 per diluted share).
[3] Consists primarily of corporate general and administrative expenses.
[4] As of December 31,(in thousands)20182017Civil$ 2,574,326$ 2,452,108Building 913,746 909,207Specialty Contractors 745,313 767,807Corporate and other(a) 154,367 135,001Total assets$ 4,387,752$ 4,264,123Consists principally of cash, equipment, tax-related assets and insurance-related assets, offset by the elimination of assets related to intersegment revenue.