Business Segment Information

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

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

The Construction segment performs various construction projects with a large portion of the work focused on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, utilities 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, power-related facilities, utilities and airport infrastructure. This segment primarily includes bid-build, design-build, construction management/general contractor contracts, together with various contract methods relating to Public Private Partnerships, 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. In addition, the Construction Materials segment includes real estate investment activity that was not material for any of the periods presented.

The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies contained in our 2014 Annual Report on Form 10-K, except as disclosed in Note 1. We evaluate segment performance based on gross profit or loss, and do not include selling, general and administrative expenses and non-operating income or expense. Segment assets include property and equipment, intangibles, goodwill, inventory and equity in construction joint ventures.

Summarized segment information is as follows:

	Three Months Ended March 31,
(in thousands)	Construction		Large Project Construction		Construction Materials			Total
2015
Total revenue from reportable segments	$	188,520	$	190,305	$	53,700		$	432,525
Elimination of intersegment revenue	—		—		(12,276		)	(12,276		)
Revenue from external customers	188,520		190,305		41,424			420,249
Gross profit	21,675		17,771		663			40,109
Depreciation, depletion and amortization	4,692		2,644		5,432			12,768
Segment assets	144,878		253,070		307,140			705,088
2014
Total revenue from reportable segments	$	157,040	$	187,336	$	42,109		$	386,485
Elimination of intersegment revenue	—		—		(6,638		)	(6,638		)
Revenue from external customers	157,040		187,336		35,471			379,847
Gross profit (loss)	9,144		15,793		(3,529		)	21,408
Depreciation, depletion and amortization	4,015		3,204		5,098			12,317
Segment assets	147,232		238,519		329,945			715,696

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

	Three Months Ended March 31,
(in thousands)	2015			2014
Total gross profit from reportable segments	$	40,109		$	21,408
Selling, general and administrative expenses	52,203			49,247
Gain on sales of property and equipment	(811		)	(894		)
Other expense	1,833			2,380
Loss before benefit from income taxes	$	(13,116	)	$	(29,325	)