Consolidated 50% Owned Subsidiaries, including Variable Interest Entities ("VIE") (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Components of Agreement Obligation

The liability consists of the following (amounts in thousands):



	As of December 31,
	2018		2017
Members’ interest subject to mandatory redemption	$	40,000	$	40,000
Net accumulated earnings	9,343		7,386
Total liability	$	49,343	$	47,386

Variable Interest Entities, Summary of Condensed Consolidated Balance Sheets

As such, the following table presents the condensed financial information of Myers, which is reflected in the Company’s consolidated balance sheets and statements of operations, as follows (amounts in thousands):



	As of December 31,
	2018		2017
Assets:
Current assets:
Cash and cash equivalents	$	8,745	$	8,590
Contracts receivable, including retainage	24,109		26,844
Other current assets	14,533		15,672
Total current assets	47,387		51,106
Property and equipment, net	7,219		9,001
Goodwill	1,501		1,501
Total assets	$	56,107	$	61,608
Liabilities:
Current liabilities:
Accounts payable	$	22,211	$	28,448
Other current liabilities	9,811		11,798
Total current liabilities	32,022		40,246
Long-term liabilities:
Other long-term liabilities	1,976		3,491
Total liabilities	$	33,998	$	43,737

Condensed Income Statement



	Years Ended December 31,
	2018		2017		2016
Revenues	$	193,677	$	181,589	$	156,202
Operating income	8,819		9,069		6,005
Net income attributable to Sterling common stockholders	$	4,415	$	4,531	$	2,993



	Years Ended December 31,
	2018		2017		2016
Total combined:
Revenues	$	115,441	$	93,848	$	62,440
Income before tax	8,097		7,827		5,144
Sterling’s noncontrolling interest:
Revenues	$	55,134	$	44,948	$	25,537
Income before tax	4,104		3,847		1,980

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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