Business Segment Information

12 Months Ended

Dec. 31, 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 a 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 Accounting Policies (see Note 1). We evaluate 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 (in thousands):

Years Ended December 31,	Construction		Large Project Construction		Construction Materials			Real Estate			Total
2011
Total revenue from reportable segments	$	1,043,614	$	725,043	$	415,618		$	20,291		$	2,204,566
Elimination of intersegment revenue	—		—		(195,035		)	—			(195,035		)
Revenue from external customers	1,043,614		725,043		220,583			20,291			2,009,531
Gross profit	124,506		104,108		16,641			2,708			247,963
Depreciation, depletion and amortization	14,747		4,547		28,672			189			48,155
Segment assets	111,780		110,441		352,619			75,050			649,890
2010
Total revenue from reportable segments	$	943,245	$	584,406	$	419,355		$	13,256		$	1,960,262
Elimination of intersegment revenue	—		—		(197,297		)	—			(197,297		)
Revenue from external customers	943,245		584,406		222,058			13,256			1,762,965
Gross profit	95,709		67,307		12,018			2,750			177,784
Depreciation, depletion and amortization	18,148		2,759		33,565			522			54,994
Segment assets	123,153		80,259		374,205			87,686			665,303
2009
Total revenue from reportable segments	$	1,151,743	$	603,517	$	389,440		$	2,274		$	2,146,974
Elimination of intersegment revenue	—		—		(183,495		)	—			(183,495		)
Revenue from external customers	1,151,743		603,517		205,945			2,274			1,963,479
Gross profit (loss)	209,487		120,100		21,240			(1,318		)	349,509
Depreciation, depletion and amortization	25,844		5,311		34,047			557			65,759
Segment assets	156,692		78,563		377,352			154,415			767,022

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

Years Ended December 31,	2011			2010			2009
Total gross profit from reportable segments	$	247,963		$	177,784		$	349,509
Selling, general and administrative expenses	162,302			191,593			228,046
Restructuring charges	2,181			109,279			9,453
Gain on sales of property and equipment	15,789			13,748			17,169
Other (expense) income, net	(9,836		)	2,964			9,672
Income (loss) before provision for (benefit from) income taxes	$	89,433		$	(106,376	)	$	138,851

A reconciliation of segment assets to consolidated total assets is as follows (in thousands):

December 31,	2011		2010		2009
Total assets for reportable segments	$	649,890	$	665,303	$	767,022
Assets not allocated to segments:
Cash and cash equivalents	256,990		252,022		338,956
Short-term and long-term marketable securities	149,658		143,706		119,385
Receivables, net	251,838		243,986		280,252
Deferred income taxes	38,571		53,877		31,034
Other current assets	76,074		55,970		63,814
Property and equipment, net	46,180		42,874		45,503
Other noncurrent assets	78,598		77,795		63,609
Consolidated total assets	$	1,547,799	$	1,535,533	$	1,709,575