Note 3 - Construction Joint Ventures

3 Months Ended

Mar. 31, 2013

Equity Method Investments and Joint Ventures Disclosure [Text Block]

3.	Construction Joint Ventures

We participate in various construction joint venture partnerships. 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 2012 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 (amounts in thousands):

	March 31, 2013			December 31, 2012
Total combined:
Current assets	$	75,414		$	92,102
Less current liabilities		(45,606	)		(48,002	)
Net assets	$	29,808		$	44,100
Backlog	$	190,627		$	213,924

Sterling’s noncontrolling interest in backlog	$	68,873		$	77,222
Sterling’s receivables from and equity in net assets of construction joint ventures	$	9,450		$	11,005

	Three Months Ended March 31,
	2013			2012
Total combined:
Revenues	$	24,874		$	90,374
Income before tax		(4,399	)		8,562

Sterling’s noncontrolling interest:
Revenues	$	9,078		$	15,916
Income before tax		(2,216	)		1,413

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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