Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets [Abstract]

(6) Goodwill and Intangible Assets

The Company tests goodwill and intangible assets with indefinite lives for impairment by applying a fair value test in the fourth quarter of each year and between annual tests if events occur or circumstances change that suggest a material adverse change to the most recently concluded valuation. The Company did not observe any changes in facts or circumstances during the three months ended March 31, 2015 that would indicate a material adverse change to the fourth quarter 2014 concluded valuation.

The Company tests intangible assets with finite lives for impairment whenever events or circumstances indicate that the carrying value may not be recoverable. The Company did not observe any events or circumstances during the three months ended March 31, 2014 that would indicate that the carrying value of its intangible assets may not be recoverable.

The following table presents the carrying amount of goodwill allocated to the Company’s reporting units as of March 31, 2015:



					Specialty
	Civil		Building		Contractors		Total
	(in thousands)

Gross Goodwill Balance	$	492,074	$	424,724	$	156,193	$	1,072,991
Accumulated Impairment		(76,716)		(411,269)		—		(487,985)
Balance at December 31, 2014	$	415,358	$	13,455	$	156,193	$	585,006
Current activity		—		—		—		—
Balance at March 31, 2015	$	415,358	$	13,455	$	156,193	$	585,006

Intangible assets consist of the following:



	March 31, 2015								Weighted
					Accumulated				Average
			Accumulated		Impairment		Carrying		Amortization
	Cost		Amortization		Charge		Value		Period

	(in thousands)

Trade names (non-amortizable)	$	117,600	$	—	$	(67,190)	$	50,410	Indefinite
Trade names (amortizable)		74,350		(9,451)		(23,232)		41,667	20 years
Contractor license		6,000		—		(6,000)		—	Indefinite
Customer relationships		39,800		(15,921)		(16,645)		7,234	11.4 years
Construction contract backlog		73,706		(73,706)		—		—	3.6 years
Total	$	311,456	$	(99,078)	$	(113,067)	$	99,311



		December 31, 2014							Weighted
					Accumulated				Average
			Accumulated		Impairment		Carrying		Amortization
		Cost	Amortization		Charge		Value		Period

	(in thousands)

Trade names (non-amortizable)	$	117,600	$	—	$	(67,190)	$	50,410	Indefinite
Trade names (amortizable)		74,350		(8,829)		(23,232)		42,289	20 years
Contractor license		6,000		—		(6,000)		—	Indefinite
Customer relationships		39,800		(15,600)		(16,645)		7,555	11.4 years
Construction contract backlog		73,706		(73,706)		—		—	3.6 years
Total	$	311,456	$	(98,135)	$	(113,067)	$	100,254

Amortization expense for the three months ended March 31, 2015 totaled $0.9 million. As of March 31, 2015, amortization expense is estimated to be $2.8 million for the remainder of 2015, $3.5 million in 2016, $3.5 million in 2017, $3.5 million in 2018, $3.5 million in 2019 and $32.1 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.

+ References+ Details