SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Jan. 03, 2014

Notes to Financial Statements [Abstract]

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

NOTE 21. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

The following table sets forth selected quarterly financial data for the years ended January 3, 2014 and December 28, 2012. The selected quarterly financial data presented below should be read in conjunction with the rest of the information in this report.

		2013 Quarters Ended
(In millions, except per share data)		March 29		June 28		September 27		January 3
Revenues		$	2,802.5	$	2,792.0	$	2,735.5	$	2,660.7
Cost of revenues			(2,651.3)		(2,641.6)		(2,559.0)		(2,564.1)
Operating income			152.6		145.4		179.3		113.5
Other income (expense) (1)			(2.5)		(3.3)		1.6		(3.5)
Income tax expense (2)			(42.2)		(38.9)		(42.3)		(44.3)
Net income including noncontrolling interests			86.8		81.7		115.4		45.4
Noncontrolling interests in income of consolidated subsidiaries			(14.9)		(14.4)		(26.6)		(26.2)
Net income attributable to URS			71.9		67.3		88.8		19.2
Earnings per share:
	Basic	$	0.97	$	0.91	$	1.21	$	0.26
	Diluted	$	0.96	$	0.91	$	1.20	$	0.26
Weighted-average shares outstanding:
	Basic		74.4		73.8		73.6		73.6
	Diluted		74.9		74.0		73.9		74.2
		2012 Quarters Ended
(In millions, except per share data)		March 30		June 29		September 28		December 28
Revenues		$	2,361.5	$	2,690.7	$	2,947.6	$	2,972.7
Cost of revenues			(2,203.2)		(2,527.5)		(2,753.3)		(2,810.5)
Acquisition-related expenses (3)			(5.6)		(11.3)		0.8		—
Operating income			161.4		149.5		203.6		171.4
Other income (expense) (1)			2.5		(9.2)		10.8		(3.6)
Income tax expense			(48.6)		(40.5)		(66.1)		(34.7)
Net income including noncontrolling interests			105.5		79.1		127.8		113.4
Noncontrolling interests in income of consolidated subsidiaries			(25.8)		(25.5)		(21.1)		(42.8)
Net income attributable to URS			79.7		53.6		106.7		70.6
Earnings per share:
	Basic	$	1.08	$	0.72	$	1.43	$	0.95
	Diluted	$	1.07	$	0.72	$	1.43	$	0.95
Weighted-average shares outstanding:
	Basic		74.0		74.2		74.5		74.5
	Diluted		74.3		74.6		74.6		74.6

• During fiscal 2013, “Other income (expenses)” represents foreign currency gains (losses) recognized on intercompany financing arrangements. During fiscal 2012, “Other income (expenses)” represents foreign currency gains (losses) recognized on intercompany financing arrangements and foreign currency forward contracts. See further discussion in Note 11,“Indebtedness.”
• During the fourth quarter of 2013, we recorded income tax expense of $10.0 million related to prior quarters. This included U.S. tax on the sale of Canadian properties of $6.4 million and dividends from a Canadian joint venture of $3.6 million. This amount recorded in the fourth quarter was not material to prior quarters and, accordingly, the prior quarters have not been revised. On an after-tax basis, these items resulted in decreases to net income and diluted EPS of $10.0 million and $0.15, respectively.
• For the year ended December 28, 2012, we recorded acquisition-related expenses in connection with our acquisition of Flint. See further discussion in Note 8, “Acquisitions.”