Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2012

Goodwill and Intangible Assets [Abstract]

(6)	Goodwill and Intangible Assets

Changes in the carrying amount of goodwill during the three months ended March 31, 2012 in connection with our recent acquisitions are shown in the tables below (in thousands):

						Specialty		Management
	Building			Civil		Contractors		Services			Total


Gross Goodwill	$	420,267		$	430,762	$	141,833	$	66,638		$	1,059,500
Accumulated Impairment		(146,847	)		-		-		(20,051	)		(166,898	)
Balance at December 31, 2011		273,420			430,762		141,833		46,587			892,602
Acquisition related adjustment		-			1,188		-		-			1,188
Balance at March 31, 2012	$	273,420		$	431,950	$	141,833	$	46,587		$	893,790

Intangible assets consist of the following (in thousands):

	March 31, 2012										Weighted
						Accumulated					Average
			Accumulated			Impairment			Carrying		Amortization
	Cost		Amortization			Charge			Value		Period

Trade names (non-amortizable)	$	117,600	$	-		$	(56,100	)	$	61,500	Indefinite
Trade names (amortizable)		74,350		(1,698	)		(800	)		71,852	20 years
Contractor license		6,000		-			(680	)		5,320	Indefinite
Customer relationships		39,800		(11,485	)		-			28,315	11.6 years
Construction contract backlog		71,140		(45,167	)		-			25,973	2.9 years
Total	$	308,890	$	(58,350	)	$	(57,580	)	$	192,960

	December 31, 2011										Weighted
						Accumulated					Average
			Accumulated			Impairment			Carrying		Amortization
	Cost		Amortization			Charge			Value		Period

Trade names (non-amortizable)	$	117,600	$	-		$	(56,100	)	$	61,500	Indefinite
Trade names (amortizable)		74,350		(788	)		(800	)		72,762	20 years
Contractor license		6,000		-			(680	)		5,320	Indefinite
Customer relationships		39,800		(10,585	)		-			29,215	11.6 years
Construction contract backlog		71,140		(41,938	)		-			29,202	2.9 years
Total	$	308,890	$	(53,311	)	$	(57,580	)	$	197,999

Amortization expense for the three months ended March 31, 2012 and 2011 was $5.0 million and $1.8 million, respectively. As of March 31, 2012, amortization expense is estimated to be $13.3 million for the remainder of 2012, $15.9 million in 2013, $14.4 million in 2014, $8.5 million in 2015, $6.3 million in 2016 and $67.7 million thereafter.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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