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Note 13 - Segment Information | 6 Months Ended
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Jun. 30, 2017
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
| 13. | Segment Information
Due to the April 3, 2017 acquisition of Tealstone, the Company has reviewed its reportable segments, operating segments and reporting units. Based on our review, we have concluded that our operations consist of two reportable segments, two operating segments and two reporting unit components: heavy civil construction and residential construction. In making this determination, the Company considered the discrete financial information used by our Chief Operating Decision Maker (“CODM”). Based on this approach, the Company noted that the CODM organizes, evaluates and manages the financial information around the aggregation of heavy civil construction projects and the entire residential construction division when making operating decisions and assessing the Company’s overall performance. Furthermore, we considered the differences between the types of work performed in each reporting unit. Each heavy civil construction project has similar characteristics, includes similar services, has similar types of customers and is subject to similar economic and regulatory environments. Projects in our heavy civil construction segment typically last for several years, involve several subtasks and are accounted for using the percentage of completion method. Conversely, our residential construction projects typically consist of a high volume of independent units performed for customers that are billed, paid and accounted for as the individual units are completed. Each job performed in our residential construction segment typically takes less than one month to complete. Segment reporting is aligned based upon the services offered by our two operating groups, which represent our reportable segments: Heavy Civil Construction and Residential Construction, as mentioned above. Our chief operating decision maker evaluates the performance of the aforementioned operating groups based upon revenue and income from operations. Each operating group’s income from operations reflects corporate costs, allocated based primarily upon revenue. The following table presents total revenue and income from operations by reportable segment for the three months and six months ended June 30, 2017 and 2016 (in thousands):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Revenue |  |  |  |  |  |  |  |
Heavy Civil Construction |  | $ | 209,194 |  |  | $ | 189,582 |  |  | $ | 362,610 |  |  | $ | 316,149 |
Residential Construction |  |  | 37,218 |  |  |  | - |  |  |  | 37,218 |  |  |  | - |
Total Revenue |  | $ | 246,412 |  |  | $ | 189,582 |  |  | $ | 399,828 |  |  | $ | 316,149 |
Operating Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Heavy Civil Construction |  | $ | 3,141 |  |  | $ | 3,381 |  |  | $ | 1,667 |  |  | $ | (3,085 | )
Residential Construction |  |  | 5,215 |  |  |  | - |  |  |  | 4,901 |  |  |  | - |
Total Operating Income |  | $ | 8,356 |  |  | $ | 3,381 |  |  | $ | 6,568 |  |  | $ | (3,085 | )
From the acquisition closing date of April 3, 2017, through June 30, 2017, revenue and income from operations associated with the Tealstone Acquisition totaled approximately $42.5 million and $5.5 million, respectively. The following table presents total assets by reportable segment at June 30, 2017 and December 31, 2016:
|  | June 30, 2017 |  | December 31, 2016
Assets |  |  |  |
Heavy Civil Construction |  | $ | 356,661 |  |  | $ | 301,823 |
Residential Construction |  |  | 98,792 |  |  |  | - |
Total Assets |  | $ | 455,453 |  |  | $ | 301,823 |
The Company is in the process of finalizing the purchase accounting, which will affect the allocation of goodwill by reportable segments. Refer to Note 2. However, of the newly acquired goodwill, with a preliminarily amount of $36.2 million, we believe that almost all will be allocated to the Residential Construction segment.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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