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Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2021
Segment Reporting [Abstract] |
Reportable Segments | The following tables set forth certain reportable segment information relating to the Company’s operations for the three and six months ended June 30, 2021 and 2020:
| Reportable Segments |  |  |  |
(in thousands) | Civil | Building | Specialty Contractors | Total |  | Corporate |  | Consolidated Total
Three Months Ended June 30, 2021 |  |  |  |  |  |  |  |
Total revenue | $ | 643,055 |  | $ | 415,801 |  | $ | 281,370 |  | $ | 1,340,226 |  |  | $ | — |  |  | $ | 1,340,226 |
Elimination of intersegment revenue | (87,703) |  | (33,141) |  | (139) |  | (120,983) |  |  | — |  |  | (120,983) |
Revenue from external customers | $ | 555,352 |  | $ | 382,660 |  | $ | 281,231 |  | $ | 1,219,243 |  |  | $ | — |  |  | $ | 1,219,243 |
Income (loss) from construction operations | $ | 75,073 |  | $ | (2,488) |  | $ | 9,960 |  | $ | 82,545 |  | (a) | $ | (13,792) |  | (b) | $ | 68,753 |
Capital expenditures | $ | 8,616 |  | $ | 51 |  | $ | 19 |  | $ | 8,686 |  |  | $ | 339 |  |  | $ | 9,025 |
Depreciation and amortization(c) | $ | 31,178 |  | $ | 424 |  | $ | 892 |  | $ | 32,494 |  |  | $ | 2,767 |  |  | $ | 35,261 |
Three Months Ended June 30, 2020 |  |  |  |  |  |  |  |
Total revenue | $ | 644,685 |  | $ | 490,317 |  | $ | 234,497 |  | $ | 1,369,499 |  |  | $ | — |  |  | $ | 1,369,499 |
Elimination of intersegment revenue | (75,709) |  | (17,296) |  | (67) |  | (93,072) |  |  | — |  |  | (93,072) |
Revenue from external customers | $ | 568,976 |  | $ | 473,021 |  | $ | 234,430 |  | $ | 1,276,427 |  |  | $ | — |  |  | $ | 1,276,427 |
Income (loss) from construction operations | $ | 65,398 |  | $ | 17,789 |  | $ | (11,388) |  | $ | 71,799 |  | (d) | $ | (14,103) |  | (b) | $ | 57,696 |
Capital expenditures | $ | 18,951 |  | $ | 186 |  | $ | 255 |  | $ | 19,392 |  |  | $ | 301 |  |  | $ | 19,693 |
Depreciation and amortization(c) | $ | 21,775 |  | $ | 428 |  | $ | 995 |  | $ | 23,198 |  |  | $ | 2,767 |  |  | $ | 25,965 |
____________________________________________________________________________________________________ (a)During the three months ended June 30, 2021, the Company recorded a reduction of $20.1 million in cost of operations (an after-tax impact of $14.6 million, or $0.28 per diluted share) due to a favorable legal judgment on a completed electrical project in New York in the Specialty Contractors segment. The judgment awarded the Company the recovery of certain costs previously incurred. (b)Consists primarily of corporate general and administrative expenses. (c)Depreciation and amortization is included in income (loss) from construction operations. (d)During the three months ended June 30, 2020, the Company recorded a charge of $13.2 million in income (loss) from construction operations (an after-tax impact of $9.5 million, or $0.19 per diluted share) due to an adverse arbitration ruling pertaining to an electrical project in New York in the Specialty Contractors segment.
| Reportable Segments |  |  |  |
(in thousands) | Civil | Building | Specialty Contractors | Total |  | Corporate |  | Consolidated Total
Six Months Ended June 30, 2021 |  |  |  |  |  |  |  |
Total revenue | $ | 1,226,199 |  | $ | 872,971 |  | $ | 606,318 |  | $ | 2,705,488 |  |  | $ | — |  |  | $ | 2,705,488 |
Elimination of intersegment revenue | (195,272) |  | (83,078) |  | (300) |  | (278,650) |  |  | — |  |  | (278,650) |
Revenue from external customers | $ | 1,030,927 |  | $ | 789,893 |  | $ | 606,018 |  | $ | 2,426,838 |  |  | $ | — |  |  | $ | 2,426,838 |
Income (loss) from construction operations | $ | 125,178 |  | $ | 8,728 |  | $ | 11,284 |  | $ | 145,190 |  | (a) | $ | (26,733) |  | (b) | $ | 118,457 |
Capital expenditures | $ | 18,180 |  | $ | 124 |  | $ | 164 |  | $ | 18,468 |  |  | $ | 392 |  |  | $ | 18,860 |
Depreciation and amortization(c) | $ | 53,891 |  | $ | 856 |  | $ | 1,851 |  | $ | 56,598 |  |  | $ | 5,537 |  |  | $ | 62,135 |
Six Months Ended June 30, 2020 |  |  |  |  |  |  |  |
Total revenue | $ | 1,224,771 |  | $ | 995,400 |  | $ | 516,949 |  | $ | 2,737,120 |  |  | $ | — |  |  | $ | 2,737,120 |
Elimination of intersegment revenue | (169,166) |  | (40,615) |  | (183) |  | (209,964) |  |  | — |  |  | (209,964) |
Revenue from external customers | $ | 1,055,605 |  | $ | 954,785 |  | $ | 516,766 |  | $ | 2,527,156 |  |  | $ | — |  |  | $ | 2,527,156 |
Income (loss) from construction operations | $ | 111,519 |  | $ | 21,305 |  | $ | (3,109) |  | $ | 129,715 |  | (d) | $ | (24,792) |  | (b) | $ | 104,923 |
Capital expenditures | $ | 30,143 |  | $ | 198 |  | $ | 728 |  | $ | 31,069 |  |  | $ | 317 |  |  | $ | 31,386 |
Depreciation and amortization(c) | $ | 40,391 |  | $ | 855 |  | $ | 1,988 |  | $ | 43,234 |  |  | $ | 5,542 |  |  | $ | 48,776 |
____________________________________________________________________________________________________ (a)During the six months ended June 30, 2021, the Company recorded a reduction of $20.1 million in cost of operations (an after-tax impact of $14.6 million, or $0.28 per diluted share) due to a favorable legal judgment on a completed electrical project in New York in the Specialty Contractors segment. The judgment awarded the Company the recovery of certain costs previously incurred. (b)Consists primarily of corporate general and administrative expenses. (c)Depreciation and amortization is included in income (loss) from construction operations. (d)During the six months ended June 30, 2020, the Company recorded a charge of $13.2 million in income (loss) from construction operations (an after-tax impact of $9.5 million, or $0.19 per diluted share) due to an adverse arbitration ruling pertaining to an electrical project in New York in the Specialty Contractors segment.
Reconciliation of Segment Results to Consolidated Income Before Income Taxes | A reconciliation of segment results to the consolidated income before income taxes is as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2021 | 2020 |  | 2021 | 2020
Income from construction operations | $ | 68,753 |  | $ | 57,696 |  |  | $ | 118,457 |  | $ | 104,923 |
Other income (expense) | 1,431 |  | (797) |  |  | 1,606 |  | (316) |
Interest expense | (17,938) |  | (16,464) |  |  | (35,748) |  | (32,900) |
Income before income taxes | $ | 52,246 |  | $ | 40,435 |  |  | $ | 84,315 |  | $ | 71,707 |
Total Assets for Reportable Segments | Total assets by segment were as follows:
(in thousands) | As of June 30, 2021 | As of December 31, 2020
Civil | $ | 3,253,753 |  | $ | 3,141,991 |
Building | 1,052,374 |  | 1,147,649 |
Specialty Contractors | 659,633 |  | 673,891 |
Corporate and other(a) | (73,660) |  | 82,086 |
Total assets | $ | 4,892,100 |  | $ | 5,045,617 |
____________________________________________________________________________________________________ (a)Consists principally of cash, equipment, tax-related assets and insurance-related assets, offset by the elimination of assets related to intersegment revenue.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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