XML 25 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
Disposition of Assets
 9 Months Ended
Sep. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Disposition of Assets
Disposition of Assets    
Due to a historical pattern of losses in the construction operations of our United Kingdom segment and our negative assessment of construction market conditions in the United Kingdom for the foreseeable future, we ceased construction operations in the United Kingdom during the third quarter of 2014. The results of the construction operations of our United Kingdom segment for all periods are presented in the Condensed Consolidated Financial Statements as discontinued operations.
The results of discontinued operations are as follows (in thousands):
 
For the three months ended September 30,
 
For the nine months ended September 30,
 
2017
 
2016
 
2017
 
2016
Revenues
$
(81
)
 
$
40

 
$
863

 
$
108

Loss from discontinued operation, net of income taxes
$
(207
)
 
$
(406
)
 
$
(729
)
 
$
(1,584
)
Diluted loss per share from discontinued operation
$
(0.00
)
 
$
(0.01
)
 
$
(0.01
)
 
$
(0.03
)
The loss from discontinued operations for the three and nine months ended September 30, 2017 was primarily due to legal costs related to the settlement of final contract balances on certain construction projects completed in prior years, partially offset by revenues recognized in the second quarter of 2017 upon the settlement of a previously outstanding contract claim.






Included in the Condensed Consolidated Balance Sheets at September 30, 2017 and December 31, 2016 are the following major classes of assets and liabilities associated with the discontinued operation (in thousands):
 
September 30,
2017
 
December 31,
2016
Assets of discontinued operation:
 
 
 
Current assets
$
360

 
$
1,233

 
 
 
 
Liabilities of discontinued operation:
 
 
 
Current liabilities
$
3,511

 
$
4,036


At September 30, 2017, the assets and liabilities of the discontinued operation consisted of accounts receivable, contract retentions and contract warranty obligations that are expected to be collected or fulfilled in the ordinary course of business. Additionally at September 30, 2017, there remained less than $0.1 million of obligations related to employee severance, which are expected to be paid in 2018. The settlement of the remaining assets and liabilities may result in additional income and/or expenses. Such income and/or expenses are expected to be immaterial and will be reflected as discontinued operations as incurred.