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Construction Joint Ventures
 9 Months Ended
Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]  
Construction Joint Ventures
5.
Construction Joint Ventures
 
The Company participates in various construction joint ventures. Generally, each construction joint venture is formed to construct a specific project and is jointly controlled by the joint venture partners. Refer to Note 5 of the Notes to Consolidated Financial Statements in the 2016 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,
2017
 
December 31,
2016
Total combined:
 
 

 
 

Current assets
 
$
42,129

 
$
32,592

Less current liabilities
 
(61,079
)
 
(57,598
)
Net liabilities
 
$
(18,950
)
 
$
(25,006
)
Backlog
 
$
51,110

 
$
107,333

 
 
 
 
 
Sterling’s noncontrolling interest in backlog
 
$
26,659

 
$
52,992

Sterling’s receivables from and equity in construction joint ventures
 
$
9,069

 
$
7,130


 
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
2017
 
2016
 
2017
 
2016
Total combined:
 
 

 
 

 
 

 
 

Revenues
 
$
27,703

 
$
15,520

 
$
61,210

 
$
44,074

Income before tax
 
(6,281
)
 
1,925

 
(3,611
)
 
3,838

 
 
 
 
 
 
 
 
 
Sterling’s noncontrolling interest:
 
 

 
 

 
 

 
 

Revenues
 
$
13,664

 
$
6,103

 
$
28,826

 
$
17,567

Income before tax
 
(1,629
)
 
519

 
(358
)
 
1,370


 
Approximately $26.7 million of the Company’s backlog at September 30, 2017 was attributable to projects performed by joint ventures. The majority of this amount is attributable to the Company’s joint venture with Steve P. Rados, Inc., where the Company has a 50% 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.