Business Segments

6 Months Ended

Jun. 30, 2013

Business Segments

Business Segments

(12) Business Segments

The Company’s chief operating decision maker is the Chairman and Chief Executive Officer, who decides how to allocate resources and assess performance of the business segments.  Generally, the Company evaluates performance of its operating segments on the basis of income from operations and cash flow.

The following table sets forth certain reportable segment information relating to the Company’s operations for the three and six months ended June 30, 2013 and 2012.

	Reportable Segments
							Specialty			Management									Consolidated
(in thousands)	Building			Civil			Contractors			Services			Totals			Corporate			Total
Three Months Ended June 30, 2013
Total revenues	$	422,366		$	332,223		$	284,036		$	45,744		$	1,084,369		$	—		$	1,084,369
Elimination of intersegment revenues	(20,542		)	(10,515		)	—			(247		)	(31,304		)	—			(31,304		)
Revenues from external customers	$	401,824		$	321,708		$	284,036		$	45,497		$	1,053,065		$	—		$	1,053,065
Income from construction operations	$	3,024		$	29,199		$	15,985		$	2,112		$	50,320		$	(10,846	)*	$	39,474
Three Months Ended June 30, 2012
Total revenues	$	331,924		$	327,072		$	275,902		$	64,773		$	999,671		$	—		$	999,671
Elimination of intersegment revenues	(1,664		)	(3,376		)	—			(9,285		)	(14,325		)	—			(14,325		)
Revenues from external customers	$	330,260		$	323,696		$	275,902		$	55,488		$	985,346		$	—		$	985,346
Income from construction operations
Before Impairment Charge	$	(14,487	)	$	25,762		$	19,868		$	1,852		$	32,995		$	(10,595	)*	$	22,400
Impairment Charge	(282,608		)	(65,503		)	(11,489		)	(16,974		)	(376,574		)	—			(376,574		)
Total	$	(297,095	)	$	(39,741	)	$	8,379		$	(15,122	)	$	(343,579	)	$	(10,595	)	$	(354,174	)

	Reportable Segments
							Specialty			Management									Consolidated
(in thousands)	Building			Civil			Contractors			Services			Totals			Corporate			Total
Six Months Ended June 30, 2013
Total revenues	$	847,480		$	616,198		$	585,913		$	93,113		$	2,142,704		$	—		$	2,142,704
Elimination of intersegment revenues	(32,017		)	(61,803		)	(10		)	(2,881		)	(96,711		)	—			(96,711		)
Revenues from external customers	$	815,463		$	554,395		$	585,903		$	90,232		$	2,045,993		$	—		$	2,045,993
Income from construction operations	$	7,261		$	50,753		$	35,271		$	4,918		$	98,203		$	(22,650	)*	$	75,553
Six Months Ended June 30, 2012
Total revenues	$	674,963		$	577,661		$	543,638		$	132,885		$	1,929,147		$	—		$	1,929,147
Elimination of intersegment revenues	(3,909		)	(4,592		)	(298		)	(22,468		)	(31,267		)	—			(31,267		)
Revenues from external customers	$	671,054		$	573,069		$	543,340		$	110,417		$	1,897,880		$	—		$	1,897,880
Income from construction operations
Before Impairment Charge	$	(23,384	)	$	42,604		$	39,616		$	3,738		$	62,574		$	(23,211	)*	$	39,363
Impairment Charge	(282,608		)	(65,503		)	(11,489		)	(16,974		)	(376,574		)	—			(376,574		)
Total	$	(305,992	)	$	(22,899	)	$	28,127		$	(13,236	)	$	(314,000	)	$	(23,211	)	$	(337,211	)

* Consists primarily of corporate general and administrative expenses.