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Operations by Business Segment and Geographical Area | 9 Months Ended
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Sep. 30, 2013
Operations by Business Segment and Geographical Area |
Operations by Business Segment and Geographical Area | (16) Effective January 1, 2013, the company implemented certain organizational changes that impacted the composition of its reportable segments. The company’s operations and maintenance activities, previously included in the Global Services segment, have been integrated into the Industrial & Infrastructure segment as part of the new industrial services business line, which also includes project execution activities that were previously reported in the manufacturing and life sciences business line. Additionally, the Global Services segment now includes activities associated with the company’s efforts to grow its fabrication and construction capabilities and the operations of a new procurement entity, Acqyre, which was formed to provide strategic sourcing solutions to third parties. Segment operating information and total assets for 2012 have been recast to reflect these organizational changes. Operating information by segment is as follows:
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30, |  | September 30, |
External Revenue (in millions) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Oil & Gas |  | $ | 2,892.7 |  | $ | 2,551.6 |  | $ | 8,518.5 |  | $ | 6,887.4 |
Industrial & Infrastructure |  | 2,665.0 |  | 3,465.0 |  | 8,879.5 |  | 10,102.0 |
Government |  | 675.2 |  | 790.1 |  | 2,101.0 |  | 2,511.5 |
Global Services |  | 149.7 |  | 159.5 |  | 454.0 |  | 503.0 |
Power |  | 301.6 |  | 169.9 |  | 1,107.2 |  | 550.5 |
Total external revenue |  | $ | 6,684.2 |  | $ | 7,136.1 |  | $ | 21,060.2 |  | $ | 20,554.4 |
Intercompany revenue for the Global Services segment, excluded from the amounts shown above, was $128.0 million and $371.1 million for the three and nine months ended September 30, 2013, respectively, and $116.0 million and $341.8 million for the three and nine months ended September 30, 2012, respectively.
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30, |  | September 30, |
Segment Profit (Loss) (in millions) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Oil & Gas |  | $ | 108.3 |  | $ | 87.2 |  | $ | 319.6 |  | $ | 244.7 |
Industrial & Infrastructure |  | 132.4 |  | 145.0 |  | 388.7 |  | 389.6 |
Government |  | 37.8 |  | 22.9 |  | 92.7 |  | 98.1 |
Global Services |  | 24.5 |  | 29.2 |  | 79.8 |  | 100.4 |
Power |  | 7.6 |  | (6.0 | ) | 11.4 |  | (14.5 | )
Total segment profit |  | $ | 310.6 |  | $ | 278.3 |  | $ | 892.2 |  | $ | 818.3 |
Power segment profit for the three and nine months ended September 30, 2013 included research and development expenses of $12.7 million and $41.1 million, respectively, and $15.7 million and $40.6 million for the three and nine months ended September 30, 2012, respectively, associated with the operations of NuScale. A reconciliation of the segment information to consolidated amounts is as follows:
|  | Three Months Ended |  | Nine Months Ended |
Reconciliation of Total Segment Profit to |  | September 30, |  | September 30, |
Earnings Before Taxes (in millions) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Total segment profit |  | $ | 310.6 |  | $ | 278.3 |  | $ | 892.2 |  | $ | 818.3 |
Corporate general and administrative expense |  | (46.1 | ) | (40.9 | ) | (110.6 | ) | (109.9 | )
Interest income (expense), net |  | (3.7 | ) | (0.9 | ) | (8.9 | ) | 2.8 |
Earnings attributable to noncontrolling interests |  | 43.9 |  | 28.0 |  | 137.1 |  | 82.3 |
Earnings before taxes |  | $ | 304.7 |  | $ | 264.5 |  | $ | 909.8 |  | $ | 793.5 |
Total assets by segment are as follows:
|  | September 30, |  | December 31, |
Total Assets (in millions) |  | 2013 |  | 2012 |
Oil & Gas |  | $ | 1,871.8 |  | $ | 1,704.4 |
Industrial & Infrastructure |  | 965.5 |  | 751.7 |
Government |  | 545.8 |  | 827.2 |
Global Services |  | 729.7 |  | 768.9 |
Power |  | 205.1 |  | 120.6 |
The increase in total assets for the Oil & Gas segment was due to higher levels of working capital needed to support the segment’s revenue growth. The increase in total assets for the Industrial & Infrastructure segment resulted primarily from the consolidation of a variable interest entity in the mining and metals business line during the first quarter of 2013, offset somewhat by a reduction in project working capital associated with the decrease in volume in the mining and metals business line. The decrease in total assets for the Government segment was primarily the result of reduced project working capital needs for LOGCAP IV. The increase in total assets for the Power segment was primarily due to an increase in working capital to support project execution activities.

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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 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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