Business Segment Information

6 Months Ended

Jun. 30, 2012

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 in Washington, California and Texas. In October 2010, we announced our Enterprise Improvement Plan that includes plans to orderly divest of our real estate investment business consistent with our 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 contained in our 2011 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
2012
Total revenue from reportable segments	$	245,113	$	228,799	$	115,852		$	2,354	$	592,118
Elimination of intersegment revenue	—		—		(52,503		)	—		(52,503		)
Revenue from external customers	245,113		228,799		63,349			2,354		539,615
Gross profit	17,961		28,239		5,000			716		51,916
Depreciation, depletion and amortization	3,233		909		7,179			—		11,321
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

	Six Months Ended June 30,
(in thousands)	Construction		Large Project Construction		Construction Materials			Real Estate		Total
2012
Total revenue from reportable segments	$	363,059	$	392,727	$	146,861		$	5,017	$	907,664
Elimination of intersegment revenue	—		—		(57,889		)	—		(57,889		)
Revenue from external customers	363,059		392,727		88,972			5,017		849,775
Gross profit (loss)	26,541		50,488		(950		)	773		76,852
Depreciation, depletion and amortization	6,813		2,177		14,557			—		23,547
Segment assets	110,119		119,652		365,690			57,367		652,828
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

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)	2012			2011			2012			2011
Total gross profit from reportable segments	$	51,916		$	44,956		$	76,852		$	74,944
Selling, general and administrative expenses	40,806			38,793			83,994			82,165
Gain on sales of property and equipment	2,954			3,270			4,871			5,974
Other expense, net	(7,718		)	(1,173		)	(3,602		)	(2,972		)
Income (loss) before provision for (benefit from) income taxes	$	6,346		$	8,260		$	(5,873	)	$	(4,219	)