|
(16) Operating information by segment is as follows:
|
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
|
External Revenue (in millions) |
|
2011 |
|
2010 |
|
2011 |
|
2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas |
|
$ |
2,217.9 |
|
$ |
1,748.8 |
|
$ |
5,852.1 |
|
$ |
5,648.8 |
|
|
Industrial & Infrastructure |
|
2,404.0 |
|
2,167.7 |
|
6,992.8 |
|
5,230.6 |
|
|
Government |
|
882.4 |
|
792.8 |
|
2,548.9 |
|
2,232.3 |
|
|
Global Services |
|
389.9 |
|
418.9 |
|
1,174.5 |
|
1,084.8 |
|
|
Power |
|
143.4 |
|
383.3 |
|
561.0 |
|
1,386.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total external revenue |
|
$ |
6,037.6 |
|
$ |
5,511.5 |
|
$ |
17,129.3 |
|
$ |
15,582.5 |
|
|
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
|
Segment Profit (Loss) (in millions) |
|
2011 |
|
2010 |
|
2011 |
|
2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas |
|
$ |
73.7 |
|
$ |
75.3 |
|
$ |
204.2 |
|
$ |
265.3 |
|
|
Industrial & Infrastructure |
|
67.5 |
|
(147.4 |
) |
268.5 |
|
(67.3 |
) |
|
Government |
|
43.0 |
|
34.7 |
|
108.8 |
|
105.0 |
|
|
Global Services |
|
39.1 |
|
35.2 |
|
111.4 |
|
94.3 |
|
|
Power |
|
12.6 |
|
40.5 |
|
71.8 |
|
146.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total segment profit |
|
$ |
235.9 |
|
$ |
38.3 |
|
$ |
764.7 |
|
$ |
543.9 |
|
· Industrial & Infrastructure. Segment profit for the three and nine months ended September 30, 2011 was impacted by charges for the Greater Gabbard Project totaling $38 million (or $0.14 per diluted share) and $52 million (or $0.19 per diluted share), respectively, primarily due to increased costs related to cable installation.
Segment profit for both the three and nine months ended September 30, 2010 included a charge of $163 million (or $0.92 and $0.90 per diluted share for the three and nine months periods, respectively) on the Greater Gabbard Project related to estimated cost overruns for a variety of execution challenges, including material and equipment delivery issues and weather-related delays.
Segment profit for both the three and nine months ended September 30, 2010 included a charge of $95 million ($0.33 per diluted share) for a completed fixed-price infrastructure joint venture project in California.
· Power. Segment profit for the nine months ended September 30, 2010 included provisions of $63 million (or $0.22 per diluted share) taken earlier in 2010 on a gas-fired power project in Georgia for estimated additional costs to complete the project.
A reconciliation of the segment information to consolidated amounts is as follows:
|
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
|
Reconciliation of Segment Profit to Earnings Before
Income Taxes (in millions) |
|
2011 |
|
2010 |
|
2011 |
|
2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total segment profit |
|
$ |
235.9 |
|
$ |
38.3 |
|
$ |
764.7 |
|
$ |
543.9 |
|
|
Corporate general and administrative expense |
|
(37.3 |
) |
(39.6 |
) |
(102.2 |
) |
(98.3 |
) |
|
Interest income, net |
|
6.1 |
|
2.6 |
|
16.2 |
|
9.3 |
|
|
Earnings attributable to noncontrolling interests |
|
26.2 |
|
23.6 |
|
74.5 |
|
62.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before income taxes |
|
$ |
230.9 |
|
$ |
24.9 |
|
$ |
753.2 |
|
$ |
517.1 |
|
Total assets by segment are as follows:
|
Total assets (in millions) |
|
September 30,
2011 |
|
December 31,
2010 |
|
|
|
|
|
|
|
|
|
Oil & Gas |
|
$ |
1,213.6 |
|
$ |
986.3 |
|
|
Industrial & Infrastructure |
|
922.5 |
|
534.9 |
|
|
Government |
|
952.1 |
|
1,070.4 |
|
|
Global Services |
|
865.7 |
|
823.9 |
|
|
Power |
|
104.9 |
|
97.2 |
|
|
|
|
|
| |