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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues [1] $ 275,884 $ 308,789 $ 808,276 $ 904,433
Cost of revenues 215,624 241,997 644,557 721,909
Gross profit [1] 60,260 66,792 163,719 182,524
Operating expenses 45,055 48,866 133,373 147,990
Goodwill impairment 39,430 0 40,688 [2],[3] 0
Definite-lived intangible asset impairment 0 0 957 0
Impairment (gain) of assets held for sale 0 0 (658) 11,946
Acquisition and divestiture expenses 680 1,842 2,189 2,759
Restructuring and related charges 2,335 1,435 4,287 5,495
Operating income (loss) (27,240) 14,649 (17,117) 14,334
Other income (expense):        
Interest expense (4,288) (3,446) (12,174) (10,602)
Interest income 258 268 701 814
Other [4] 245 (5,236) 1,634 (6,925)
Total other expense (3,785) (8,414) (9,839) (16,713)
Income (loss) before taxes (benefit) (31,025) 6,235 (26,956) (2,379)
Taxes (benefit) on income (loss) (3,131) (114) (1,755) 3,410
Net income (loss) (27,894) 6,349 (25,201) (5,789)
Non-controlling interests income (580) (313) (1,049) (542)
Net income (loss) attributable to Aegion Corporation $ (28,474) $ 6,036 $ (26,250) $ (6,331)
Income (loss) per share attributable to Aegion Corporation:        
Basic (in dollars per share) $ (0.93) $ 0.20 $ (0.85) $ (0.20)
Diluted (in dollars per share) $ (0.93) $ 0.19 $ (0.85) $ (0.20)
[1] Revenues and gross profit are attributed to the country of origin
[2] During the second quarter of 2020, the Company recorded a $1.3 million goodwill impairment related to restructuring activities within Energy Services (see Note 4).
[3] During the third quarter of 2020, the Company recorded a $39.4 million goodwill impairment within Energy Services (see Note 2).
[4] Other income in the third quarter of 2020 includes gains of $1.5 million related to restructuring (see Note 4) and a $0.6 million loss on the sale of Insituform Australia (see Note 1). Other expense in the third quarter of 2019 includes $5.3 million of restructuring charges (see Note 4). Other income (expense) in the first nine months of 2020 and 2019 includes gains of $1.8 million and charges of $6.5 million, respectively, related to restructuring (see Note 4). Other income in the first nine months of 2020 also includes gains of $0.1 million related to divestitures of Insituform Australia and Insituform Spain (see Note 1).