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Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of accumulated other comprehensive income (loss)

As set forth below, the Company’s accumulated other comprehensive loss is comprised of three main components: (i) currency translation; (ii) derivatives; and (iii) gains and losses associated with the Company’s defined benefit plan in the United Kingdom (in thousands):



	March 31, 2019			December 31, 2018
Currency translation adjustments	$	(39,158	)	$	(41,107	)
Derivative hedging activity	(431		)	1,715
Pension activity	(919		)	(898		)
Total accumulated other comprehensive loss	$	(40,508	)	$	(40,290	)

Schedule of weighted average number of shares

Earnings per share have been calculated using the following share information:



	Quarters Ended March 31,
	2019	2018
Weighted average number of common shares used for basic EPS	31,704,923	32,483,963
Effect of dilutive stock options and restricted and deferred stock unit awards	—	—
Weighted average number of common shares and dilutive potential common stock used for dilutive EPS	31,704,923	32,483,963

Restrictions on cash and cash equivalents

Cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets and Consolidated Statements of Cash Flows are as follows (in thousands):



Balance sheet data	March 31, 2019		December 31, 2018
Cash and cash equivalents	$	62,482	$	83,527
Restricted cash	1,235		1,359
Cash, cash equivalents and restricted cash	$	63,717	$	84,886

Financial data for consolidated variable interest entities

Financial data for consolidated variable interest entities are summarized in the following tables (in thousands):



Balance sheet data	March 31, 2019⁽¹⁾		December 31, 2018
Current assets	$	29,847	$	33,066
Non-current assets	7,016		6,466
Current liabilities	12,006		12,953
Non-current liabilities	7,281		8,780

__________________________


⁽¹⁾	Includes $8.1 million of assets and $6.3 million of liabilities classified as held for sale relating to Corrpower and Aegion South Africa. See Note 5.



	Quarters Ended March 31,
Statement of operations data	2019		2018⁽¹⁾
Revenue	$	5,925	$	16,051
Gross profit	1,635		3,310
Net income attributable to Aegion Corporation	33		1,248

__________________________


⁽¹⁾	Includes activity from our pipe coating and insulation joint venture in Louisiana, which was sold during the third quarter of 2018.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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