Note 3 - Construction Joint Ventures

9 Months Ended

Sep. 30, 2013

Equity Method Investments and Joint Ventures [Abstract]

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 construct 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):

	September 30, 2013			December 31, 2012
Total combined:
Current assets	$	55,924		$	92,102
Less current liabilities		(58,708	)		(48,002	)
Net assets	$	(2,784	)	$	44,100
Backlog	$	124,675		$	213,924

Sterling’s noncontrolling interest in backlog	$	38,172		$	77,222
Sterling’s receivables from and equity in construction joint ventures	$	12,260		$	11,005

	Three Months Ended September 30,					Nine Months Ended September 30,
	2013			2012		2013			2012
Total combined:
Revenues	$	39,085		$	121,107	$	97,961		$	336,317
Income (loss) before tax		(175	)		35,349		(8,578	)		55,648

Sterling’s proportionate share:
Revenues	$	16,447		$	21,238	$	39,842		$	59,123
Income (loss) before tax		(23	)		3,686		(4,116	)		7,022

- 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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