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Note 3 - Construction Joint Ventures
 9 Months Ended
Sep. 30, 2015
Notes to Financial Statements  
Equity Method Investments and Joint Ventures Disclosure [Text Block]
3. Construction Joint Ventures
 
The Company participates 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. Refer to Note 6 of the Notes to Consolidated Financial Statements in the 2014 Form 10-K for further information about our joint ventures. 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,
2015
  
December 31,
2014
Total combined:                
Current assets   $ 18,042     $ 18,132  
Less current liabilities     (50,817 )     (49,035 )
Net assets   $ (32,775 )   $ (30,903 )
Backlog   $ 35,202     $ 55,063  
                 
Sterling’s noncontrolling interest in backlog   $ 10,894     $ 15,889  
Sterling’s receivables from and equity in construction joint ventures   $ 11,089     $ 9,153  
 
 
    Three Months Ended
September 30,		   Nine Months Ended
September 30,
    2015   2014   2015   2014
Total combined:                                
Revenues   $ 9,458     $ 7,734     $ 50,450     $ 44,959  
Income before tax     808       922       5,886       3,047  
                                 
Sterling’s noncontrolling interest:                                
Revenues   $ 3,437     $ 2,747     $ 19,986     $ 18,371  
Income before tax     357       453       2,021       1,885  
 
Approximately $11 million of the Company’s backlog at September 30, 2015 was attributable to projects performed by joint ventures. The majority of this amount is attributable to the Company’s joint venture with Shimmick Construction Company, where the Company has a 30% interest.
The caption “Receivables from and equity in construction joint ventures” includes undistributed earnings and receivables owed to the Company. Undistributed earnings are typically released to the joint venture partners after the customer accepts the project as complete and the warranty period, if any, has passed.