Business Segment Information

12 Months Ended

Dec. 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 (see Note 1). We evaluate segment performance based on gross profit or loss, and do not include selling, general and administrative expenses or 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 (in thousands):

Years Ended December 31,	Construction		Large Project Construction		Construction Materials			Total
2015
Total revenue from reportable segments	$	1,262,675	$	812,720	$	432,284		$	2,507,679
Elimination of intersegment revenue	—		—		(136,650		)	(136,650		)
Revenue from external customers	1,262,675		812,720		295,634			2,371,029
Gross profit	190,190		80,012		33,156			303,358
Depreciation, depletion and amortization	20,117		10,343		22,389			52,849
Segment assets	139,399		274,975		288,900			703,274
2014
Total revenue from reportable segments	$	1,186,445	$	825,044	$	385,392		$	2,396,881
Elimination of intersegment revenue	—		—		(121,611		)	(121,611		)
Revenue from external customers	1,186,445		825,044		263,781			2,275,270
Gross profit	115,037		107,662		19,548			242,247
Depreciation, depletion and amortization	19,141		16,197		21,976			57,314
Segment assets	149,018		248,464		307,229			704,711
2013
Total revenue from reportable segments	$	1,251,197	$	777,811	$	372,282		$	2,401,290
Elimination of intersegment revenue	—		—		(134,389		)	(134,389		)
Revenue from external customers	1,251,197		777,811		237,893			2,266,901
Gross profit	102,292		67,457		7,428			177,177
Depreciation, depletion and amortization	26,228		11,679		22,945			60,852
Segment assets	148,459		222,584		326,056			697,099

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,	2015			2014			2013
Total gross profit from reportable segments	$	303,358		$	242,247		$	177,177
Selling, general and administrative expenses	207,339			195,762			191,860
Restructuring and impairment (gains) charges, net	(6,003		)	(2,643		)	52,139
Gain on sales of property and equipment	(8,286		)	(15,972		)	(12,130		)
Other expense, net	6,881			9,503			9,337
Income (loss) before provision for (benefit from) income taxes	$	103,427		$	55,597		$	(64,029	)

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

December 31,	2015		2014		2013
Total assets for reportable segments	$	703,274	$	704,711	$	697,099
Assets not allocated to segments:
Cash and cash equivalents	252,836		255,961		229,121
Short-term and long-term marketable securities	105,695		102,067		117,202
Receivables, net	340,822		310,934		313,598
Deferred income taxes	4,329		32,785		48,081
Other current assets	85,779		60,615		65,674
Property and equipment, net	36,721		45,188		54,330
Other noncurrent assets	98,404		87,787		84,257
Consolidated total assets	$	1,627,860	$	1,600,048	$	1,609,362