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Reportable Operating Segments
 9 Months Ended
Sep. 30, 2015
Reportable Operating Segments  
Reportable Operating Segments

 

Note 19—Reportable Operating Segments

 

In the third quarter 2014, the Company reorganized its business segments to match the change in the Company’s internal organization and management structure. All prior period amounts related to the segment change have been retrospectively reclassified to conform to the new presentation. The following is a brief description of each of the Company’s reportable segments and business activities.

 

The West segment includes the underground and industrial operations and construction services performed by ARB, ARB Structures, Inc., Rockford, Q3C, and Vadnais, acquired in June 2014.  Most of the entities perform work primarily in California; however, Rockford operates throughout the United States and Q3C operates in Colorado and the upper Midwest United States. The Blythe joint venture, completed in 2014, and the Carlsbad joint venture, which began in 2015, is also included as a part of the segment.  The West segment consists of businesses headquartered primarily in the western United States.

 

The East segment includes the JCG Heavy Civil division, the JCG Infrastructure and Maintenance division, BW Primoris and Cardinal Contractors, Inc. construction businesses, located primarily in the southeastern United States and in the Gulf Coast region of the United States.

 

The Energy segment businesses are located primarily in the southeastern United States, the Gulf Coast region and the upper Midwest region of the United States. The segment includes the operations of the PES pipeline and gas facility construction and maintenance operations, the PES Industrial division and the newly acquired Aevenia, Surber and Ram-Fab operations. Additionally, the segment includes the OnQuest, Inc. and OnQuest Canada, ULC operations for the design and installation of LNG facilities and high-performance furnaces and heaters for the oil refining, petrochemical and power generation industries.

 

All intersegment revenues and gross profit, which were immaterial, have been eliminated in the following tables.

 

Segment Revenues

 

Revenue by segment for the three months ended September 30, 2015 and 2014 were as follows:

 

 

 

For the three months ended September 30,

 

 

 

2015

 

2014

 

Segment

 

Revenue

 

% of
Segment
Revenue

 

Revenue

 

% of
Segment
Revenue

 

 

 

 

 

 

 

 

 

 

 

West

 

$
258,414 

 
46.5 

%

$
289,405 

 
47.2 

%

East

 
183,635 

 
33.0 

%
135,450 

 
22.1 

%

Energy

 
113,896 

 
20.5 

%
188,382 

 
30.7 

%

 

 

 

 

 

 

 

 

 

 

Total

 

$
555,945 

 
100.0 

% 

$
613,237 

 
100.0 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by segment for the nine months ended September 30, 2015 and 2014 were as follows

 

 

 

For the nine months ended September 30,

 

 

 

2015

 

2014

 

Segment

 

Revenue

 

% of
Segment
Revenue

 

Revenue

 

% of
Segment
Revenue

 

 

 

 

 

 

 

 

 

 

 

West

 

$
684,798 

 
47.8 

%

$
747,823 

 
46.8 

%

East

 
462,222 

 
32.3 

%
360,975 

 
22.6 

%

Energy

 
285,250 

 
19.9 

%
489,804 

 
30.6 

%

 

 

 

 

 

 

 

 

 

 

Total

 

$
1,432,270 

 
100.0 

% 

$
1,598,602 

 
100.0 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment Gross Profit

 

Gross profit by segment for the three months ended September 30, 2015 and 2014 were as follows:

 

 

 

For the three months ended September 30,

 

 

 

2015

 

2014

 

Segment

 

Gross
Profit

 

% of
Segment
Revenue

 

Gross
Profit

 

% of
Segment
Revenue

 

 

 

 

 

 

 

 

 

 

 

West

 

$
39,810 

 
15.4 

% 

$
46,240 

 
16.0 

%

East

 
15,400 

 
8.4 

%
9,110 

 
6.7 

%

Energy

 
16,437 

 
14.4 

%
20,123 

 
10.7 

%

 

 

 

 

 

 

 

 

 

 

Total

 

$
71,647 

 
12.9 

%

$
75,473 

 
12.3 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit by segment for the nine months ended September 30, 2015 and 2014 were as follows:

 

 

 

For the nine months ended September 30,

 

 

 

2015

 

2014

 

Segment

 

Gross
Profit

 

% of
Segment
Revenue

 

Gross
Profit

 

% of
Segment
Revenue

 

 

 

 

 

 

 

 

 

 

 

West

 

$
91,718 

 
13.4 

% 

$
115,723 

 
15.5 

%

East

 
33,623 

 
7.3 

%
24,595 

 
6.8 

%

Energy

 
30,807 

 
10.8 

%
46,106 

 
9.4 

%

 

 

 

 

 

 

 

 

 

 

Total

 

$
156,148 

 
10.9 

%

$
186,424 

 
11.7 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment Goodwill

 

The following presents the amount of goodwill recorded by segment at September 30, 2015 and at December 31, 2014.

 

Segment

 

September 30,
2015

 

December 31,
2014

 

 

 

 

 

 

 

West

 

$
45,239 

 

$
45,239 

 

East

 
43,267 

 
43,267 

 

Energy

 
36,056 

 
30,904 

 

 

 

 

 

 

 

Total

 

$
124,562 

 

$
119,410 

 

 

 

 

 

 

 

 

 

 

Geographic Region — Revenues and Total Assets

 

The majority of the Company’s revenues are derived from customers in the United States, with less than 1% generated from sources outside of the United States. At September 30, 2015, approximately 1% of total assets were located in Canada.