XML 34 R22.htm IDEA: XBRL DOCUMENT v3.8.0.1
General (Tables)
 9 Months Ended
Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of contribution to revenues and profits and pro forma
Underground Solutions, Fyfe Europe, LMJ, Concrete Solutions and Environmental Techniques made the following contributions to the Company’s revenues and profits (in thousands):
 
Quarters Ended September 30,
 
2017
 
2016
 
Revenues
 
Net Loss
 
Revenues
 
Net Income (Loss)
Underground Solutions (1)
$
9,304

 
$
(374
)
 
$
8,273

 
$
101

Fyfe Europe (2)
35

 
(1,857
)
 
15

 
(202
)
LMJ (3)
342

 
(596
)
 
1,446

 
(134
)
Concrete Solutions (4)
1,561

 
(2,080
)
 
1,344

 
68

Environmental Techniques
1,322

 
(166
)
 
N/A

 
N/A

_____________________
“N/A” represents not applicable.
(1) 
The reported net income (loss) for Underground Solutions includes an allocation of corporate expenses of $0.7 million and $0.3 million in the quarters ended September 30, 2017 and 2016, respectively.
(2) 
The reported net loss for Fyfe Europe in the quarter ended September 30, 2017 includes $1.8 million of impairment charges allocated from goodwill impairments at the Fyfe reporting unit (see Note 2).
(3) 
The reported net loss for LMJ in the quarter ended September 30, 2017 includes 2017 Restructuring charges of $0.1 million.
(4) 
The reported net loss for Concrete Solutions in the quarter ended September 30, 2017 includes $2.2 million of impairment charges allocated from goodwill impairments at the Fyfe reporting unit (see Note 2).
 
Nine Months Ended September 30,
 
2017
 
2016
 
Revenues
 
Net Loss
 
Revenues
 
Net Income (Loss)
Underground Solutions (1)
$
25,349

 
$
(2,049
)
 
$
23,916

 
$
(1,661
)
Fyfe Europe (2)
396

 
(2,001
)
 
23

 
(300
)
LMJ (3)
2,702

 
(2,213
)
 
2,779

 
(221
)
Concrete Solutions (4)
4,276

 
(2,033
)
 
1,344

 
68

Environmental Techniques
3,245

 
(561
)
 
N/A

 
N/A

_____________________
“N/A” represents not applicable.
(1) 
The reported net loss for Underground Solutions in the nine months ended September 30, 2017 includes an allocation of corporate expenses of $1.8 million. The reported net loss for Underground Solutions in the nine months ended September 30, 2016 includes inventory step-up expense of $3.6 million, recognized as part of the accounting for business combinations, and an allocation of corporate expenses of $1.6 million.
(2) 
The reported net loss for Fyfe Europe in the nine months ended September 30, 2017 includes $1.8 million of impairment charges allocated from goodwill impairments at the Fyfe reporting unit (see Note 2).
(3) 
The reported net loss for LMJ in the nine months ended September 30, 2017 includes 2017 Restructuring charges of $0.1 million.
(4) 
The reported net loss for Concrete Solutions in the nine months ended September 30, 2017 includes $2.2 million of impairment charges allocated from goodwill impairments at the Fyfe reporting unit (see Note 2).
The following pro forma summary presents combined information of the Company as if the Environmental Techniques, Underground Solutions, Fyfe Europe, LMJ and Concrete Solutions acquisitions had occurred at the beginning of the year preceding their acquisition (in thousands, except earnings per share):
 
Quarters Ended September 30,
 
Nine Months Ended September 30,

2017
 
   2016 (1)
 
   2017 (1)
 
   2016 (2)
Revenues
$
341,872

 
$
310,022

 
$
1,022,402

 
$
915,289

Net income (loss) attributable to Aegion Corporation(3)
(73,236
)
 
12,024

 
(56,438
)
 
12,171

Diluted earnings (loss) per share
$
(2.23
)
 
$
0.34

 
$
(1.69
)
 
$
0.34

_____________________
(1) 
Includes pro-forma results related to Environmental Techniques.
(2) 
Includes pro-forma results related to Environmental Techniques, Underground Solutions, Fyfe Europe, LMJ and Concrete Solutions.
(3) 
Includes pro-forma adjustments for depreciation and amortization associated with acquired tangible and intangible assets, as if those assets were recorded at the beginning of the year preceding the acquisition date.
Schedule of fair value of assets acquired and liabilities assumed
The following table summarizes the fair value of identified assets and liabilities of the Environmental Techniques acquisition at its acquisition date (in thousands):
 
Environmental
Techniques
Receivables and cost and estimated earnings in excess of billings
$
801

Inventories
1,281

Prepaid expenses and other current assets
93

Property, plant and equipment
2,147

Identified intangible assets
1,869

Deferred income tax assets
124

Accounts payable
(1,025
)
Accrued expenses
(186
)
Deferred income tax liabilities
(413
)
Total identifiable net assets
$
4,691


 
Total consideration recorded
$
8,046

Less: total identifiable net assets
4,691

Goodwill at September 30, 2017
$
3,355