Construction Joint Ventures

3 Months Ended

Mar. 31, 2012

Construction Joint Ventures [Abstract]

3.	Construction Joint Ventures

We participate in various construction joint ventures. Generally, each construction joint venture is formed to accomplish a specific project and is jointly controlled by the joint venture partners. See Note 6 of the Notes to Consolidated Financial Statements in the 2011 Form 10-K for further information. Condensed combined financial amounts of joint ventures in which the Company has a noncontrolling interest and the Company's share of such amounts which are included in the Company's condensed consolidated financial statements are shown below (in thousands):

	March 31, 2012			December 31, 2011
Total combined:
Current assets	$	121,501		$	108,458
Less current liabilities		(90,522	)		(86,023	)
Net assets	$	30,979		$	22,435
Backlog	$	454,053		$	539,844

Sterling's noncontrolling interest in backlog	$	112,445		$	127,130
Sterling's receivables from and equity in net assets of construction joint ventures	$	7,546		$	6,057

	Three Months Ended March 31,
	2012		2011
Total combined:
Revenues	$	90,374	$	86,686
Income before tax		8,562		6,927

Sterling's noncontrolling interest:
Revenues	$	15,916	$	10,841
Income before tax		1,413		828

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

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