Business Segment Information

6 Months Ended

Jun. 30, 2011

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

Our reportable segments are: Construction, Large Project Construction, Construction Materials and Real Estate. 

The Construction segment performs various heavy civil construction projects with a large portion of the work focused on new construction and improvement of streets, roads, highways, bridges, site work and other infrastructure projects. These projects are typically bid-build projects completed within two years with a contract value of less than $75 million.

The Large Project Construction segment focuses on large, complex infrastructure projects which typically have longer duration than our Construction segment work. These projects include major highways, mass transit facilities, bridges, tunnels, waterway locks and dams, pipelines, canals and airport infrastructure. This segment primarily includes bid-build, design-build and construction management/general contractor contracts, generally with contract values in excess of $75 million.

The Construction Materials segment mines and processes aggregates and operates plants that produce construction materials for internal use and for sale to third parties.

The Real Estate segment purchases, develops, operates, sells and invests in real estate related projects and provides real estate services for the Company’s operations. The Real Estate segment’s current portfolio consists of residential, retail and office site development projects for sale to home and commercial property developers or held for rental income in Washington, Oregon, California and Texas. In October 2010, we announced our Enterprise Improvement Plan that includes business plans to orderly divest of our real estate investment business consistent with our business strategy to focus on our core business.

The accounting policies of the segments are the same as those described in the Summary of Significant Account Policies contained in our 2010 Annual Report on Form 10-K. We evaluate segment performance based on gross profit or loss, and do not include overhead and non-operating income or expense. Segment assets include property and equipment, intangibles, inventory, equity in construction joint ventures and real estate held for development and sale.

Summarized segment information is as follows:

	Three Months Ended June 30,
(in thousands)	Construction		Large Project Construction		Construction Materials			Real Estate		Total
2011
Total revenue from reportable segments	$	260,600	$	162,338	$	108,616		$	3,622	$	535,176
Elimination of intersegment revenue	—		—		(50,502		)	—		(50,502		)
Revenue from external customers	260,600		162,338		58,114			3,622		484,674
Gross profit	23,389		12,658		8,470			439		44,956
Depreciation, depletion and amortization	3,847		1,289		7,000			8		12,144
2010
Total revenue from reportable segments	$	237,943	$	153,328	$	108,598		$	1,844	$	501,713
Elimination of intersegment revenue	—		—		(47,509		)	—		(47,509		)
Revenue from external customers	237,943		153,328		61,089			1,844		454,204
Gross profit	22,901		21,835		4,480			482		49,698
Depreciation, depletion and amortization	5,110		542		7,453			138		13,243

	Six Months Ended June 30,
(in thousands)	Construction		Large Project Construction		Construction Materials			Real Estate		Total
2011
Total revenue from reportable segments	$	353,292	$	300,158	$	139,272		$	6,043	$	798,765
Elimination of intersegment revenue	—		—		(57,360		)	—		(57,360		)
Revenue from external customers	353,292		300,158		81,912			6,043		741,405
Gross profit	28,942		43,956		1,200			846		74,944
Depreciation, depletion and amortization	7,925		2,057		14,107			97		24,186
Segment assets	113,922		102,641		382,892			88,316		687,771
2010
Total revenue from reportable segments	$	319,129	$	259,653	$	142,318		$	8,852	$	729,952
Elimination of intersegment revenue	—		—		(55,065		)	—		(55,065		)
Revenue from external customers	319,129		259,653		87,253			8,852		674,887
Gross profit (loss)	24,747		31,318		(2,645		)	1,992		55,412
Depreciation, depletion and amortization	10,626		1,469		15,552			329		27,976
Segment assets	138,207		81,565		378,256			165,081		763,109

A reconciliation of segment gross profit to consolidated income (loss) before provision for (benefit from) income taxes is as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	2011			2010			2011			2010
Total gross profit from reportable segments	$	44,956		$	49,698		$	74,944		$	55,412
Selling, general and administrative expenses	38,793			51,357			82,165			106,649
Gain on sales of property and equipment	3,270			3,800			5,974			8,252
Other expense, net	(1,173		)	(368		)	(2,972		)	(585		)
Income (loss) before provision for (benefit from) income taxes	$	8,260		$	1,773		$	(4,219	)	$	(43,570	)