Business Segments

9 Months Ended

Sep. 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 nine months ended September 30, 2013 and 2012.

	Reportable Segments
							Specialty		Management									Consolidated
(in thousands)	Building			Civil			Contractors		Services			Totals			Corporate			Total
Three Months Ended September 30, 2013
Total revenues	$	352,013		$	379,765		$	287,633	$	37,031		$	1,056,442		$	—		$	1,056,442
Elimination of intersegment revenues	(21,250		)	(4,270		)	—		(534		)	(26,054		)	—			(26,054		)
Revenues from external customers	$	330,763		$	375,495		$	287,633	$	36,497		$	1,030,388		$	—		$	1,030,388
Income from construction operations	$	13,530		$	47,532		$	9,312	$	1,344		$	71,718		$	(13,624	)*	$	58,094
Three Months Ended September 30, 2012
Total revenues	$	391,531		$	350,542		$	315,270	$	51,744		$	1,109,087		$	—		$	1,109,087
Elimination of intersegment revenues	(508		)	(4,202		)	—		(4,984		)	(9,694		)	—			(9,694		)
Revenues from external customers	$	391,023		$	346,340		$	315,270	$	46,760		$	1,099,393		$	—		$	1,099,393
Income from construction operations	$	20,847		$	26,280		$	14,236	$	2,841		$	64,204		$	(9,528	)*	$	54,676

	Reportable Segments
							Specialty			Management									Consolidated
(in thousands)	Building			Civil			Contractors			Services			Totals			Corporate			Total
Nine Months Ended September 30, 2013
Total revenues	$	1,199,493		$	995,963		$	873,546		$	130,144		$	3,199,146		$	—		$	3,199,146
Elimination of intersegment revenues	(53,267		)	(66,073		)	(10		)	(3,415		)	(122,765		)	—			(122,765		)
Revenues from external customers	$	1,146,226		$	929,890		$	873,536		$	126,729		$	3,076,381		$	—		$	3,076,381
Income from construction operations	$	20,791		$	98,285		$	44,583		$	6,262		$	169,921		$	(36,274	)*	$	133,647
Nine Months Ended September 30, 2012
Total revenues	$	1,066,494		$	928,203		$	858,843		$	184,629		$	3,038,169		$	—		$	3,038,169
Elimination of intersegment revenues	(4,417		)	(8,794		)	(233		)	(27,452		)	(40,896		)	—			(40,896		)
Revenues from external customers	$	1,062,077		$	919,409		$	858,610		$	157,177		$	2,997,273		$	—		$	2,997,273
Income from construction operations
Before Impairment Charge	$	(2,537	)	$	68,884		$	53,852		$	6,579		$	126,778		$	(32,739	)*	$	94,039
Impairment Charge	(282,608		)	(65,503		)	(11,489		)	(16,974		)	(376,574		)	—			(376,574		)
Total	$	(285,145	)	$	3,381		$	42,363		$	(10,395	)	$	(249,796	)	$	(32,739	)	$	(282,535	)

* Consists primarily of corporate general and administrative expenses.