XML 45 R32.htm IDEA: XBRL DOCUMENT v3.3.1.900
Business Acquisition (Tables)
12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
Schedule of recognized identified assets acquired and liabilities assumed
The table below outlines the total actual acquisition consideration allocated to the fair values of TAS’s tangible and intangible assets and liabilities as of August 5, 2015 and subsequent working capital adjustment:
Accounts receivable
$
54,987

Costs and estimated earnings in excess of billings on uncompleted contracts
4,372

Prepaid expenses and other current assets
828

Fixed assets, net
15,720

Investment in GLM Concrete Services, LLC
76

Goodwill
33,817

Other intangible assets
33,650

Accounts payable
(18,458
)
Accrued expenses and other current liabilities
(13,015
)
Total Acquisition Consideration at August 5, 2015
$
111,977

Working Capital Adjustment
(1,633
)
Total Acquisition Consideration
$
110,344

Summary of Pro Forma Results
The following pro forma results give effect to this acquisition, assuming the transaction occurred on January 1 of the respective period.
 
Pro Forma Results
 
For the Years Ended
 
December 31, 2015
December 31, 2014
Contract Revenues
$
602,537

$
622,063

Operating income from continuing operations
$
1,541

$
23,062

Net Income
$
1,311

$
13,399

Basic earnings per share
$
0.05

$
0.49

Diluted earnings per share
$
0.05

$
0.48