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Income Taxes | 12 Months Ended
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Dec. 31, 2016
Income Taxes [Abstract] |
Income Taxes | 6. Income Taxes ﻿ Income before taxes is summarized as follows: ﻿ ﻿
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﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended December 31,
﻿(in thousands) |  | 2016 |  | 2015 |  | 2014
﻿United States Operations |  | $ | 128,072 |  | $ | 69,822 |  | $ | 170,517
﻿Foreign Operations |  |  | 21,043 |  |  | 4,017 |  |  | 16,921
﻿Total |  | $ | 149,115 |  | $ | 73,839 |  | $ | 187,438
﻿ ﻿ The provision for income taxes is as follows:
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﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended December 31,
﻿(in thousands) |  | 2016 |  | 2015 |  | 2014
﻿Current expense: |  |  |  |  |  |  |  |  |
﻿Federal |  | $ | 43,850 |  | $ | 5,465 |  | $ | 45,074
﻿State |  |  | 13,039 |  |  | (362) |  |  | 11,174
﻿Foreign |  |  | 6,573 |  |  | 1,126 |  |  | 3,203
﻿Total current |  |  | 63,462 |  |  | 6,229 |  |  | 59,451
﻿ |  |  |  |  |  |  |  |  |
﻿Deferred (benefit) expense: |  |  |  |  |  |  |  |  |
﻿Federal |  |  | (3,054) |  |  | 19,583 |  |  | 9,992
﻿State |  |  | (5,302) |  |  | 2,735 |  |  | 10,059
﻿Foreign |  |  | (1,813) |  |  | — |  |  | —
﻿Total deferred |  |  | (10,169) |  |  | 22,318 |  |  | 20,051
﻿Total provision |  | $ | 53,293 |  | $ | 28,547 |  | $ | 79,502
﻿ ﻿ ﻿ The following table is a reconciliation of the Company’s provision for income taxes at the statutory rates to the provision for income taxes at the Company’s effective rate. ﻿
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﻿ |  | Year Ended December 31,
﻿ |  | 2016 |  | 2015 |  | 2014
﻿(dollars in thousands) |  | Amount |  | Rate |  | Amount |  | Rate |  | Amount |  | Rate
﻿Federal income expense at statutory tax rate |  | $ | 52,190 |  | 35.0 | % |  | $ | 25,844 |  | 35.0 | % |  | $ | 65,603 |  | 35.0 | %
﻿State income taxes, net of federal tax benefit |  |  | 5,972 |  | 4.0 |  |  |  | 1,250 |  | 1.7 |  |  |  | 10,367 |  | 5.5 |
﻿Officers' compensation |  |  | 3,807 |  | 2.6 |  |  |  | 2,900 |  | 3.9 |  |  |  | 3,657 |  | 2.0 |
﻿Domestic Production Activities Deduction |  |  | (4,018) |  | (2.7) |  |  |  | (1,499) |  | (2.0) |  |  |  | (5,170) |  | (2.8) |
﻿Impact of state tax rate changes on deferred taxes |  |  | (1,358) |  | (0.9) |  |  |  | 2,435 |  | 3.3 |  |  |  | 3,245 |  | 1.7 |
﻿Other |  |  | (3,300) |  | (2.3) |  |  |  | (2,383) |  | (3.2) |  |  |  | 1,800 |  | 1.0 |
﻿Provision for income taxes |  | $ | 53,293 |  | 35.7 | % |  | $ | 28,547 |  | 38.7 | % |  | $ | 79,502 |  | 42.4 | %
﻿ ﻿ The Company’s provision for income taxes and effective tax rate for the year ended December 31, 2016 were significantly impacted by rate changes associated with shifts of revenue affecting state apportionment as well as various return-to-provision and depreciation adjustments. The decrease in the state rate was applied to deferred tax balances, which further decreased the effective rate. ﻿ The following is a summary of the significant components of the deferred tax assets and liabilities: ﻿ ﻿
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﻿ |  | As of December 31,
﻿(in thousands) |  | 2016 |  | 2015
﻿Deferred Tax Assets |  |  |  |  |  |
﻿Timing of expense recognition |  | $ | 36,055 |  | $ | 23,580
﻿Net operating losses |  |  | 10,140 |  |  | 5,478
﻿Other, net |  |  | 33,507 |  |  | 29,342
﻿Deferred tax assets |  |  | 79,702 |  |  | 58,400
﻿Valuation allowance |  |  | (460) |  |  | (460)
﻿Net deferred tax assets |  |  | 79,242 |  |  | 57,940
﻿Deferred Tax Liabilities |  |  |  |  |  |
﻿Intangible assets, due primarily to purchase accounting |  |  | (34,679) |  |  | (37,157)
﻿Fixed assets, due primarily to purchase accounting |  |  | (107,081) |  |  | (100,516)
﻿Construction contract accounting |  |  | (12,564) |  |  | (9,197)
﻿Joint ventures - construction |  |  | (29,609) |  |  | (29,949)
﻿Other |  |  | (24,970) |  |  | (3,943)
﻿Deferred tax liabilities |  |  | (208,903) |  |  | (180,762)
﻿ |  |  |  |  |  |
﻿Net deferred tax liability |  | $ | (129,661) |  | $ | (122,822)
﻿ ﻿ ﻿ T h e n et d e f e rr ed tax lia b ili t y i s presented i n t h e C o ns o li d at e d B ala n ce S h eets as f o ll o w s: ﻿ ﻿
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﻿ |  | As of December 31,
﻿(in thousands) |  | 2016 |  | 2015
﻿Deferred tax asset |  | $ | 1,346 |  | $ | —
﻿Deferred tax liability |  |  | (131,007) |  |  | (122,822)
﻿Net deferred tax liability |  | $ | (129,661) |  | $ | (122,822)
﻿ Subsequent to the issuance of our 2015 consolidated financial statements, the Company identified that certain immaterial classification adjustments, related to the offsetting of deferred assets and liabilities by tax jurisdiction, were necessary to properly present deferred tax assets and liabilities on its Consolidated Balance Sheet as of December 31, 2015. The accompanying Consolidated Balance Sheet as of December 31, 2015, the corresponding balance sheet amounts within the business segments footnote (Note 10) and the guarantor footnote (Note 13), ha ve been corrected for the effect of this classification error. The Company has evaluated the effects of the classification adjustments as of December 31, 2015 based on the SEC’s guidance in Staff Accounting Bulletin No. 99, Materiality, and after consideration of both quantitative and qualitative factors, has concluded that the following adjustments are immaterial: ﻿
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﻿ |  | As of December 31, 2015
﻿(in thousands) |  | As Previously Reported |  | Adjustments |  | As Restated (a)
﻿Total current assets |  | $ | 2,635,245 |  | $ | (24,889) |  | $ | 2,610,356
﻿Other assets |  |  | 202,125 |  |  | (149,071) |  |  | 53,054
﻿Total assets |  |  | 4,042,441 |  |  | (173,960) |  |  | 3,868,481
﻿Accrued expenses and other current liabilities |  |  | (159,016) |  |  | 24,889 |  |  | (134,127)
﻿Total current liabilities |  |  | (1,473,708) |  |  | 24,889 |  |  | (1,448,819)
﻿Total liabilities |  |  | (2,622,214) |  |  | 173,960 |  |  | (2,448,254)
﻿Total liabilities and stockholders' equity |  |  | (4,042,441) |  |  | 173,960 |  |  | (3,868,481)
﻿ ﻿
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﻿ |  |  |  |  |  |  |  |  |
﻿ |  | As of December 31, 2015
﻿(in thousands) |  | As Previously Reported |  | Adjustments |  | As Restated (a)
﻿Current deferred tax asset |  | $ | 26,306 |  | $ | (24,889) |  | $ | 1,417
﻿Long-term deferred tax asset |  |  | 149,071 |  |  | (149,071) |  |  | —
﻿Current deferred tax liability |  |  | (24,889) |  |  | 24,889 |  |  | —
﻿Long-term deferred tax liability |  |  | (273,310) |  |  | 149,071 |  |  | (124,239)
﻿Net deferred tax liability |  | $ | (122,822) |  | $ | — |  | $ | (122,822)
| (a) |  | The amounts reflected are prior to the Company's adoption of ASU 2015-03 (see discussion in Note 1) and ASU 2015-17, discussed below.
﻿ In addition to the immaterial classification adjustments reflected above, the Company identified certain immaterial classification errors within the disclosure of the significant components of deferred tax assets and liabilities as of December 31, 2015. The following is a revised summary of the significant components of deferred tax assets and liabilities to reflect adjustments for the immaterial classification errors as of December 31, 2015: ﻿
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﻿ |  |  |  |  |  |  |  |  |
﻿ |  | As of December 31, 2015
﻿(in thousands) |  | As Previously Reported |  | Adjustments |  | As Restated
﻿Deferred Tax Assets |  |  |  |  |  |  |  |  |
﻿Timing of expense recognition |  | $ | 58,048 |  | $ | (34,468) |  | $ | 23,580
﻿Net operating losses |  |  | 3,564 |  |  | 1,914 |  |  | 5,478
﻿Other, net |  |  | 114,225 |  |  | (84,883) |  |  | 29,342
﻿Deferred tax assets |  |  | 175,837 |  |  | (117,437) |  |  | 58,400
﻿Valuation allowance |  |  | (460) |  |  | — |  |  | (460)
﻿Net deferred tax assets |  |  | 175,377 |  |  | (117,437) |  |  | 57,940
﻿Deferred Tax Liabilities |  |  |  |  |  |  |  |  |
﻿Intangible assets, due primarily to purchase accounting |  |  | (99,549) |  |  | 62,392 |  |  | (37,157)
﻿Fixed assets, due primarily to purchase accounting |  |  | (101,022) |  |  | 506 |  |  | (100,516)
﻿Construction contract accounting |  |  | (7,530) |  |  | (1,667) |  |  | (9,197)
﻿Joint ventures - construction |  |  | (27,604) |  |  | (2,345) |  |  | (29,949)
﻿Other |  |  | (62,494) |  |  | 58,551 |  |  | (3,943)
﻿Deferred tax liabilities |  |  | (298,199) |  |  | 117,437 |  |  | (180,762)
﻿Net deferred tax liability |  | $ | (122,822) |  | $ | — |  | $ | (122,822)
﻿ The Company has also elected to early adopt ASU 2015-17, effective as of the beginning of the fourth quarter of 2016. As a result of the adoption of ASU 2015-17, the Company has retrospectively adjusted the Consolidated Balance Sheet as of December 31, 2015 to reflect the provisions of the ASU. The adoption of ASU 2015-17 resulted in a reclassification of $1.4 million of deferred tax assets classified as current to long-term as of December 31, 2015. Upon adoption of ASU 2015-17, the resulting long-term deferred asset of $1.4 million was offset against the Company’s net deferred tax liabilities within the same jurisdiction. ﻿ The Company had a valuation allowance of $0.5 million as of December 31, 2016 and 2015 for federal and state capital loss carryforwards as the ultimate utilization of this item was not likely. ﻿ The Company has not provided for deferred income taxes or foreign withholding tax on basis differences in its non-U.S. subsidiaries that result from undistributed earnings aggregating $19.7 million which the Company has the intent and the ability to reinvest in its foreign operations. Generally, the U.S. income taxes imposed upon repatriation of undistributed earnings would be reduced by foreign tax credits from foreign income taxes paid on the earnings. Determination of the deferred income tax liability on these basis differences is not reasonably estimable because such liability, if any, is dependent on circumstances existing if and when remittance occurs. ﻿ The Company’s policy is to record interest and penalties on unrecognized tax benefits as an element of income tax expense. The cumulative amounts related to interest and penalties are added to the total unrecognized tax liabilities on the balance sheet. The total amount of gross unrecognized tax benefits as of December 31, 2016 that, if recognized, would affect the effective tax rate is $7.6 million. During 2016, the Company recognized a net increase of $4.0 million in liabilities. The amount of gross unrecognized tax benefits as of December 31, 2015 was $3.6 million. During 2015, the Company recognized a net decrease of $4 million in liabilities. The amount of gross unrecognized tax benefits as of December 31, 2014 was $7.6 million in liabilities. During 2014, the Company recognized a net increase of $2.2 million in liabilities. The Company does not expect any significant release of unrecognized tax benefits within the next twelve months. ﻿ The Company accounts for its uncertain tax positions in accordance with GAAP. A reconciliation of the beginning and ending amounts of these tax benefits for the three years ended December 31, 2016 is as follows: ﻿ ﻿
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﻿ |  | As of December 31,
﻿(in thousands) |  | 2016 |  | 2015 |  | 2014
﻿Beginning balance |  | $ | 3,612 |  | $ | 7,636 |  | $ | 5,459
﻿Change in tax positions of prior years |  |  | 3,543 |  |  | (3,073) |  |  | 426
﻿Change in tax positions of current year |  |  | 419 |  |  | 169 |  |  | 2,929
﻿Reduction in tax positions for statute expirations |  |  | — |  |  | (1,120) |  |  | (1,178)
﻿Ending Balance |  | $ | 7,574 |  | $ | 3,612 |  | $ | 7,636
﻿ ﻿ We conduct business international ly and, as a result, one or more of our subsidiaries files income tax returns in U.S. federal, U.S. state and certain foreign jurisdictions. Accordingly, in the normal course of business, we are subject to examination by taxing authorities principally throughout the United States, Guam and Canada. We are no longer under examination by the taxing authority regarding any U.S. federal income tax returns for years before 2011 while the years open for examination under various state and local jurisdictions vary.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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