Note 11 - Segment and Geographic Information

12 Months Ended

Dec. 31, 2012

Segment Reporting Disclosure [Text Block]

11.       SEGMENT AND GEOGRAPHIC INFORMATION

The Company operates in three distinct markets: energy and mining, water and wastewater; and commercial and structural services. Management organizes the enterprise around differences in products and services, as well as by geographic areas. Within the water and wastewater market, the Company operates in three distinct geographies: North America, Europe and internationally outside of North America and Europe. As such, the Company is organized into five reportable segments: Energy and Mining, North American Water and Wastewater, European Water and Wastewater, Asia-Pacific Water and Wastewater and Commercial and Structural. Each segment is regularly reviewed and evaluated separately.

Prior to the third quarter of 2011, the Company previously considered Water Rehabilitation to be a separate reportable segment. Based on an internal management reorganization, the Company has combined previously reported water rehabilitation results for all periods presented, which have not been material, with the geographically separated sewer rehabilitation segments. In connection with the Company’s acquisition of Fyfe NA, the Company has designated the Commercial and Structural reportable segment. See Note 1 for a description of the acquired business.

2012 and 2011 results by segment reflect $3.1 million and $6.4 million, respectively, of acquisition costs. The Company recorded these costs under “Acquisition-related expenses” on its consolidated statements of operations. Additionally, 2011 results include $2.2 million for restructuring charges. The 2011 restructuring charges were for severance related operating expenses associated with a reduction in force across the Company, a majority of which was paid in the third and fourth quarters. The Company does not expect any additional expense related to this reduction in force program. The Company recorded these charges under “Restructuring charges” on its consolidated statements of operations.

The following disaggregated financial results have been prepared using a management approach that is consistent with the basis and manner with which management internally disaggregates financial information for the purpose of making internal operating decisions. The Company evaluates performance based on stand-alone operating income (loss).

There were no customers that accounted for more than 10% of the Company’s revenues during any year in the three-year period ended December 31, 2012.

Financial information by segment was as follows at December 31 (in thousands):

	2012			2011			2010
Revenues:
Energy and Mining	$	525,107		$	433,230		$	382,246
North American Water and Wastewater		317,338			357,507			413,828
European Water and Wastewater		72,534			87,017			74,260
Asia-Pacific Water and Wastewater		38,501			43,717			44,641
Commercial and Structural		74,483			17,114			—
Total revenues	$	1,027,963		$	938,585		$	914,975
Operating income (loss):
Energy and Mining	$	57,313		$	35,011		$	41,121
North American Water and Wastewater		22,057			6,749			40,831
European Water and Wastewater		2,117			6,000			5,013
Asia-Pacific Water and Wastewater		(11,501	)		(2,512	)		70
Commercial and Structural		9,136			(711	)		—
Total operating income:	$	79,122		$	44,537		$	87,035
Total assets:
Energy and Mining	$	584,919		$	479,194		$	390,592
North American Water and Wastewater		268,097			281,353			310,839
European Water and Wastewater		65,637			62,791			60,861
Asia-Pacific Water and Wastewater		54,829			76,932			63,100
Commercial and Structural		142,561			128,358			—
Corporate		101,851			96,336			104,118
Discontinued Operations		—			—			3,800
Total assets:	$	1,217,894		$	1,124,964		$	933,310
Capital expenditures:
Energy and Mining	$	35,952		$	11,375		$	14,603
North American Water and Wastewater		3,023			3,378			13,256
European Water and Wastewater		2,737			1,798			1,768
Asia-Pacific Water and Wastewater		1,645			1,908			5,094
Commercial and Structural		443			43			—
Corporate		2,094			3,052			2,137
Total capital expenditures	$	45,894		$	21,554		$	36,858
Depreciation and amortization:
Energy and Mining	$	18,634		$	16,613		$	14,504
North American Water and Wastewater		8,886			9,405			9,796
European Water and Wastewater		1,808			2,007			2,047
Asia-Pacific Water and Wastewater		2,597			2,728			2,060
Commercial and Structural		4,509			1,183			—
Corporate		1,683			4,103			2,325
Total depreciation and amortization	$	38,117		$	36,039		$	30,732

Financial information by geographic area was as follows at December 31 (in thousands):

	2012		2011			2010
Revenues:
United States	$	600,159	$	552,197		$	604,372
Canada		180,283		178,739			139,632
Europe		86,883		102,471			87,616
Other foreign		160,638		105,178			83,355
Total revenues	$	1,027,963	$	938,585		$	914,975
Operating income (loss)
United States	$	37,995	$	(2,212	)	$	40,172
Canada		31,376		31,892			30,958
Europe		6,196		9,391			9,041
Other foreign		3,555		5,466			6,864
Total operating income	$	79,122	$	44,537		$	87,035
Long-lived assets: (1)
United States	$	154,145	$	146,487		$	147,572
Canada		28,724		22,998			20,564
Europe		16,396		12,474			13,596
Other foreign		14,040		12,693			—
Total long-lived assets	$	213,305	$	194,652		$	181,732

(1) Long lived assets as of December 31, 2012, 2011 and 2010 do not include intangible assets, goodwill or deferred tax assets.