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Note 11 - Variable Interest Entities | 9 Months Ended
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Sep. 30, 2014
Disclosure Text Block [Abstract] |
Variable Interest Entity Disclosure [Text Block] |
11. | Variable Interest Entities
The Company owns a 50% interest in Myers of which it is the primary beneficiary and has consolidated Myers into the Company’s financial statements. Because the Company exercises primary control over activities of the partnership and it is exposed to the majority of potential losses of the partnership, the Company has consolidated Myers within the Company’s financial statements since August 1, 2011, the date of acquisition. Refer to Note 3 of the Notes to Consolidated Financial Statements included in the 2013 Form 10-K for additional information on the acquisition of this limited partnership. The condensed financial information of Myers which is reflected in the Company’s condensed consolidated balance sheets and statements of operations is as follows (amounts in thousands):
|  | September 30, 2014 |  |  | December 31, 2013 |
Assets: |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 283 |  |  | $ | 566 |
Contracts receivable, including retainage |  |  | 25,808 |  |  |  | 6,475 |
Other current assets |  |  | 3,865 |  |  |  | 7,964 |
Total current assets |  |  | 29,956 |  |  |  | 15,005 |
Property and equipment, net |  |  | 8,985 |  |  |  | 6,869 |
Other assets, net |  |  | - |  |  |  | 5 |
Goodwill |  |  | 1,501 |  |  |  | 1,501 |
Total assets |  | $ | 40,442 |  |  | $ | 23,380 |
Liabilities: |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Accounts payable |  | $ | 14,777 |  |  | $ | 8,361 |
Other current liabilities |  |  | 13,061 |  |  |  | 7,080 |
Total current liabilities |  |  | 27,838 |  |  |  | 15,441 |
Long-term liabilities: |  |  |  |  |  |  |  |
Other long-term liabilities |  |  | 38 |  |  |  | 137 |
Total liabilities |  | $ | 27,876 |  |  | $ | 15,578 |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30,
|  | 2014 |  | 2013 |  | 2014 |  | 2013
Revenues |  | $ | 40,159 |  |  | $ | 23,240 |  |  | $ | 101,953 |  |  | $ | 59,377 |
Operating income |  |  | 3,461 |  |  |  | 1,772 |  |  |  | 6,760 |  |  |  | 3,130 |
Net income attributable to Sterling common stockholders |  |  | 1,728 |  |  |  | 575 |  |  |  | 3,376 |  |  |  | 1,016 |

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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28200181&loc=d3e5710-111685 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=28200181&loc=SL6759159-111685 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=28200181&loc=d3e5728-111685 + Details
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