[6] Income Taxes

For the years ended December 31, 2011, 2010, and 2009, the income (loss) before taxes, consists of the following (in thousands):

	U.S.		Foreign
	Operations		Operations			Total

2011	$	133,501	$	3,546		$	137,047
2010	$	159,474	$	(6	)	$	159,468
2009	$	196,088	$	9,052		$	205,140

The provision for income taxes consists of the following (in thousands):

	Federal			State			Foreign			Total

2011
Current	$	30,848		$	6,303		$	1,325		$	38,476
Deferred		16,351			(3,718	)		(210	)		12,423
	$	47,199		$	2,585		$	1,115		$	50,899

2010
Current	$	49,873		$	9,528		$	175		$	59,576
Deferred		(2,464	)		(983	)		(161	)		(3,608	)
	$	47,409		$	8,545		$	14		$	55,968

2009
Current	$	65,822		$	9,737		$	3,061		$	78,620
Deferred		(11,139	)		506			92			(10,541	)
	$	54,683		$	10,243		$	3,153		$	68,079

The table below reconciles the difference between the statutory federal income tax rate and the effective rate provided for income (loss) before income taxes in the Consolidated Statements of Operations.

	2011			2010			2009

Statutory federal income tax rate		35.0	%		35.0	%		35.0	%
State income taxes, net of federal tax benefit		1.8			3.2			3.2
Officer's compensation		0.2			0.3			0.3
Other		0.1			(3.4	)		(5.3	)
Effective tax rate		37.1	%		35.1	%		33.2	%

The following is a summary of the significant components of the deferred tax assets and liabilities as of December 31, 2011 and 2010 (in thousands):

	2011			2010
Deferred Tax Assets
Timing of expense recognition	$	39,830		$	44,781
Net operating losses		5,440			-
Other, net		1,219			-
Deferred tax assets		46,489			44,781

Deferred Tax Liabilities
Intangible assets, due primarily to purchase accounting		(73,020	)		(52,454	)
Fixed assets, due primarily to purchase accounting		(66,406	)		(61,445	)
Construction contract accounting		(4,910	)		(7,333	)
Joint ventures - construction		(4,276	)		1,384
Other		38			(278	)
Deferred tax liabilities		(148,574	)		(120,126	)

Net deferred tax liability	$	(102,085	)	$	(75,345	)

The net deferred tax liability as of December 31, 2011 and 2010 is classified in the Consolidated Balance Sheets based on when the future benefit (expense) is expected to be realized as follows (in thousands):

	2011			2010

Current deferred tax asset	$	-		$	3,737
Current deferred tax liability		(4,164	)
Long-term deferred tax liability		(97,921	)		(79,082	)
	$	(102,085	)	$	(75,345	)

In general, it is the practice and intention of the Company to reinvest the earnings of its non-U.S. subsidiaries in those operations. Generally, such amounts become subject to U.S. taxation upon the remittance of dividends and under certain other circumstances. As of December 31, 2011, unremitted earnings of foreign subsidiaries, which have been or are intended to be permanently invested, aggregated approximately $15.3 million. It is not practicable to estimate the amount of deferred tax liability related to investments in these foreign subsidiaries.

The Company identified and reviewed potential tax uncertainties and determined that the exposure to those uncertainties did not have a material impact on the Company's results of operations or financial condition as of December 31, 2011 and 2010.