Business Segments

12 Months Ended

Dec. 31, 2011

Business Segments [Abstract]

Business Segments

[13] Business Segments

During 2011, the Company's chief operating decision maker was 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.

As discussed in Note 4, during the third quarter of 2011 the Company completed a reorganization which resulted in the formation of the Specialty Contractors reporting segment.  The Specialty Contractors reporting segment consists of the following subsidiary companies: WDF, FSE, Nagelbush, Fisk, Powerco, DMI (all previously included in the Building reporting segment), and Superior Gunite (previously included in the Civil reporting segment).  The reorganization enables the Company to focus on vertical integration through increased self-performed work capabilities while maintaining the specialty contractors business with third parties, and it will strengthen the Company's position as a full-service contractor with greater control over scheduled delivery and risk management.

The following tables set forth certain reportable segment information relating to the Company's operations for each of the three years in the period ended December 31, 2011 (in thousands).  In accordance with the accounting guidance on segment reporting, the Company has restated the comparative prior period information for the reorganized reportable segments.  The Company has also restated comparative prior period information to allocate intersegment eliminations of $211.1 million, $88.9 million, and $162.4 million for 2011, 2010 and 2009 revenues, respectively, into the applicable Building, Civil or Management Services reporting unit that the Specialty Contractors reporting segment has provided services to:

	Reportable Segments
							Specialty			Management									Consolidated
	Building			Civil			Contractors			Services			Totals			Corporate			Total
2011
Total Revenues	$	1,952,030		$	896,896		$	802,535		$	275,975		$	3,927,436		$	-		$	3,927,436
Elimination of intersegment revenues		(126,562	)		(11,651	)		(75	)		(72,831	)		(211,119	)		-			(211,119	)
Revenues from external customers		1,825,468			885,245			802,460			203,144			3,716,317			-			3,716,317
Income from Construction Operations		46,262			78,546			65,582			22,322			212,712			(44,336	) (a)		168,376
Assets		1,125,632			1,102,471			597,986			182,583			3,008,672			604,455	(b)		3,613,127
Capital Expenditures		1,293			49,892			4,727			8,020			63,932			4,419			68,351
2010
Total Revenues	$	2,300,574		$	670,172		$	112,860		$	204,526		$	3,288,132		$	-		$	3,288,132
Elimination of intersegment revenues		(77,059	)		(3,043	)		-			(8,820	)		(88,922	)		-			(88,922	)
Revenues from external customers		2,223,515			667,129			112,860			195,706			3,199,210			-			3,199,210
Income from Construction Operations		89,236			88,122			6,281			22,153			205,792			(33,480	) (a)		172,312
Assets		1,152,439			626,396			80,502			147,921			2,007,258			771,962	(b)		2,779,220
Capital Expenditures		4,069			25,638			108			1,997			31,812			1,108			32,920
2009
Total Revenues	$	4,446,397		$	361,507		$	201,087		$	305,352		$	5,314,343		$	-		$	5,314,343
Elimination of intersegment revenues		(162,377	)		-			-			-			(162,377	)		-			(162,377	)
Revenues from external customers		4,284,020			361,507			201,087			305,352			5,151,966			-			5,151,966
Income from Construction Operations		137,460			44,268			18,040			53,447			253,215			(41,672	) (a)		211,543
Assets		1,450,430			562,728			130,305			293,177			2,436,640			384,014	(b)		2,820,654
Capital Expenditures		19,239			13,624			432			5			33,300			9,439			42,739

(a) Consists of corporate general and administrative expenses.

(b) Consists principally of cash and cash equivalents, corporate transportation equipment, construction equipment, and other investments available for general corporate purposes.

Revenues from the Resorts World New York Casino at Aqueduct Racetrack in Jamaica, New York for Genting New York, LLC in the Building segment totaled approximately $537 million (or 14% of total revenues) in 2011. Revenues from The Cosmopolitan project Las Vegas, Nevada for Deutsche Bank in the Building segment totaled approximately $518 million (or 16% of total revenues) in 2010.  Revenues from the McCarran Airport Terminal 3 project Las Vegas, Nevada for the Clark County Department of Aviation in the Building segment totaled approximately $515 million (or 15% of total revenues) in 2010.  Revenues from Project CityCenter in Las Vegas, Nevada for MGM MIRAGE in the Building segment totaled approximately $1,968 million (or 38% of total revenues) in 2009.

Information concerning principal geographic areas is as follows (in thousands):

	Revenues
	2011		2010		2009
United States	$	3,508,349	$	3,037,940	$	4,853,477
Foreign and U.S. Territories		207,968		161,270		298,489
Total	$	3,716,317	$	3,199,210	$	5,151,966

	Income (Loss) from Construction Operations
	2011			2010			2009
United States	$	184,268		$	182,193		$	202,852
Foreign and U.S. Territories		28,444			23,599			50,363
Corporate		(44,336	)		(33,480	)		(41,672	)
Total	$	168,376		$	172,312		$	211,543

	Assets
	2011		2010		2009
United States	$	3,460,470	$	2,610,848	$	2,665,513
Foreign and U.S. Territories		152,657		168,372		155,141
Total	$	3,613,127	$	2,779,220	$	2,820,654

Income from construction operations has been allocated geographically based on the location of the job site.