Quarterly report pursuant to Section 13 or 15(d)

Operating Segments

v3.7.0.1
Operating Segments
6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]
Note 14 – Operating Segments
 
The Company determined its operating segments on the same basis that it assesses performance and makes operating decisions. The Company manages and measures the performance of its business in two distinct operating segments: Construction and Service. These segments are reflective of how the Company's Chief Operating Decision Maker ("CODM") reviews operating results for the purposes of allocating resources and assessing performance. The Company's CODM is comprised of its Chief Executive Officer, Chief Financial Officer and Chief Operating Officer.
 
The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The CODM evaluates performance based on income from operations of the respective segments after the allocation of Corporate office operating expenses. Transactions between segments are eliminated in consolidation. Our Corporate department provides general and administrative support services to our two operating segments. The CODM allocates costs between segments for selling, general and administrative expenses and depreciation expense.
 
All of the Company’s identifiable assets are located in the United States, which is where the Company is domiciled. The Company does not have sales outside the United States. The Company does not identify capital expenditures and total assets, including goodwill, by segment in its internal financial reports due in part to the shared use of a centralized fleet of vehicles and specialized equipment. Interest expense is not allocated to segments because of the corporate management of debt service including interest.
 
Condensed segment information for the three months ended June 30, 2017 (Successor) and 2016 (Predecessor) is as follows:
 
 
 
Successor
 
 
Predecessor
 
 
 
Three months ended June 30,
 
 
 
2017
 
 
2016
 
(in thousands)
 
 
 
 
 
 
Statement of Operations Data:
 
 
 
 
 
 
 
 
Revenue:
 
 
 
 
 
 
 
 
Construction
 
$
96,221
 
 
$
77,329
 
Service
 
 
21,617
 
 
 
19,319
 
Total revenue
 
 
117,838
 
 
 
96,648
 
 
 
 
 
 
 
 
 
 
Operating income:
 
 
 
 
 
 
 
 
Construction
 
 
5,807
 
 
 
3,785
 
Service
 
 
1,008
 
 
 
1,392
 
Corporate
 
 
(5,080)
 
 
 
(2,268)
 
Operating income
 
$
1,735
 
 
$
2,909
 
 
 
 
 
 
 
 
 
 
Operating income for reportable segments
 
$
1,735
 
 
$
2,909
 
Less unallocated amounts:
 
 
 
 
 
 
 
 
Interest expense
 
 
563
 
 
 
884
 
(Gain) loss on sale of property and equipment
 
 
99
 
 
 
7
 
Total unallocated amounts
 
 
662
 
 
 
891
 
Total consolidated income (loss) before income taxes
 
$
1,073
 
 
$
2,018
 
 
 
 
 
 
 
 
 
 
Other Data:
 
 
 
 
 
 
 
 
Depreciation and amortization:
 
 
 
 
 
 
 
 
Construction
 
$
1,001
 
 
$
445
 
Service
 
 
503
 
 
 
156
 
Corporate
 
 
1,208
 
 
 
137
 
Total other data
 
$
2,712
 
 
$
738
 
 
Condensed segment information for the six months ended June 30, 2017 (Successor) and 2016 (Predecessor) is as follows:
 
 
 
Successor
 
 
Predecessor
 
 
 
Six months ended June 30,
 
 
 
2017
 
 
2016
 
(in thousands)
 
 
 
 
 
 
Statement of Operations Data:
 
 
 
 
 
 
 
 
Revenue:
 
 
 
 
 
 
 
 
Construction
 
$
187,686
 
 
$
158,949
 
Service
 
 
45,342
 
 
 
35,518
 
Total revenue
 
 
233,028
 
 
 
194,467
 
 
 
 
 
 
 
 
 
 
Operating income:
 
 
 
 
 
 
 
 
Construction
 
 
7,475
 
 
 
7,130
 
Service
 
 
2,376
 
 
 
1,923
 
Corporate
 
 
(9,922)
 
 
 
(3,844)
 
Operating income (loss)
 
$
(71)
 
 
$
5,209
 
 
 
 
 
 
 
 
 
 
Operating income (loss) for reportable segments
 
$
(71)
 
 
$
5,209
 
Less unallocated amounts:
 
 
 
 
 
 
 
 
Interest expense
 
 
1,017
 
 
 
1,719
 
(Gain) loss on sale of property and equipment
 
 
136
 
 
 
3
 
Total unallocated amounts
 
 
1,153
 
 
 
1,722
 
Total consolidated income (loss) before income taxes
 
$
(1,224)
 
 
$
3,487
 
 
 
 
 
 
 
 
 
 
Other Data:
 
 
 
 
 
 
 
 
Depreciation and amortization:
 
 
 
 
 
 
 
 
Construction
 
$
1,979
 
 
$
860
 
Service
 
 
992
 
 
 
307
 
Corporate
 
 
2,388
 
 
 
266
 
Total other data
 
$
5,359
 
 
$
1,433