XML 44 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
Segments and Related Information (Tables)
 6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Schedule of Financial Information by Reportable Segment
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
Revenue:
2018
 
2017
 
2018
 
2017
Communications (a)
$
618.6

 
$
592.2

 
$
1,245.7

 
$
1,151.7

Oil and Gas
769.3

 
1,140.4

 
1,305.8

 
1,596.2

Electrical Transmission
84.5

 
96.6

 
198.5

 
195.4

Power Generation and Industrial
146.0

 
60.7

 
263.6

 
107.3

Other
0.2

 
1.9

 
2.2

 
3.6

Eliminations
(0.8
)
 
(1.6
)
 
(1.2
)
 
(5.8
)
Consolidated revenue
$
1,617.8

 
$
1,890.2

 
$
3,014.6

 
$
3,048.4

(a)
Revenue generated primarily by utilities customers represented 13.6% and 11.5% of Communications segment revenue for the three month periods ended June 30, 2018 and 2017, respectively, and represented 15.7% and 12.4% for the six month periods ended June 30, 2018 and 2017, respectively.
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
EBITDA:
2018
 
2017
 
2018
 
2017
Communications
$
73.7

 
$
59.5

 
$
155.8

 
$
107.8

Oil and Gas
122.7

 
154.0

 
155.7

 
247.9

Electrical Transmission
(2.7
)
 
3.5

 
1.9

 
6.7

Power Generation and Industrial
9.8

 
4.7

 
14.6

 
5.6

Other
6.8

 
6.8

 
12.7

 
1.5

Corporate
(21.6
)
 
(29.6
)
 
(47.5
)
 
(47.1
)
Consolidated EBITDA
$
188.7

 
$
198.9

 
$
293.2

 
$
322.4


 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
Depreciation and Amortization:
2018
 
2017
 
2018
 
2017
Communications
$
15.3

 
$
13.5

 
$
29.9

 
$
25.5

Oil and Gas
26.1

 
23.2

 
51.6

 
45.1

Electrical Transmission
5.1

 
5.7

 
10.4

 
11.4

Power Generation and Industrial
3.6

 
1.4

 
6.6

 
2.9

Other
0.0

 
0.0

 
0.1

 
0.1

Corporate
1.6

 
1.6

 
3.0

 
3.3

Consolidated depreciation and amortization
$
51.7

 
$
45.4

 
$
101.6

 
$
88.3
Reconciliation of Consolidated Income before Income Taxes to EBITDA

 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
EBITDA Reconciliation:
2018
 
2017
 
2018
 
2017
Income before income taxes
$
116.2

 
$
138.8

 
$
153.8

 
$
206.8

Plus:
 
 
 
 
 
 
 
Interest expense, net
20.8

 
14.8

 
37.9

 
27.4

Depreciation and amortization
51.7

 
45.4

 
101.6

 
88.3

Consolidated EBITDA
$
188.7

 
$
198.9

 
$
293.2

 
$
322.4
Schedule of Significant Customers, Revenue Concentration Information
Revenue concentration information for significant customers as a percentage of total consolidated revenue was as follows:
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
Customer:
2018
 
2017
 
2018
 
2017
AT&T (including DIRECTV®) (a)
25%
 
22%
 
26%
 
27%
Energy Transfer affiliates (b)
15%
 
47%
 
20%
 
35%
EQT Corporation (c)
19%
 
—%
 
11%
 
—%

(a)
The Company’s relationship with AT&T is based upon multiple separate master service and other service agreements, including for installation and maintenance services, as well as construction/installation contracts for AT&T’s: (i) wireless business; (ii) wireline/fiber businesses; and (iii) various install-to-the-home businesses, including DIRECTV®. Revenue from AT&T is included in the Communications segment.
(b)
The Company's relationship with Energy Transfer affiliates is based upon various construction contracts for pipeline activities with Energy Transfer Partners L.P., and its subsidiaries and affiliates, all of which are consolidated by Energy Transfer Equity, L.P. Revenue from Energy Transfer affiliates is included in the Oil and Gas segment.
(c)
The Company's relationship with EQT Corporation and its affiliates is based upon various construction contracts for pipeline activities. Revenue from EQT Corporation is included in the Oil and Gas segment.