Annual report pursuant to Section 13 and 15(d)

Discontinued Operations

v3.3.1.900
Discontinued Operations
 12 Months Ended
Dec. 31, 2015
Discontinued Operations [Abstract]  
Discontinued Operations
(16)  Discontinued Operations

During 2012 we discontinued the construction management operations of our wholly owned subsidiary Integrated Concepts and Research Corporation ("ICRC").

As of December 31, 2015, one of the bonded projects had not yet been completed and the aggregate bonded amount on this project was approximately $3 million. Our bonded projects are the subject of claims and disputes involving the subcontractors associated with the projects. We recorded an expense of approximately $1.1 million, net of tax, which was included in loss from discontinued operations for the year ended December 31, 2014 primarily related to these claims and disputes. We expect the remaining bonded project to be completed in 2016.

Revenues and costs of ICRC have been reclassified as discontinued operations for all periods presented.  The major categories included in discontinued operations on the consolidated statements of income are as follows (in thousands):

   
Year ended December 31,
  
   
2015
    
2014
    
2013
  
Revenues
  
$
-
    
$
-
    
$
225
  
                         
Loss before income taxes
  
$
-
    
$
(1,807
)
  
$
(1,818
)
Income benefit
            
(683
)
    
(680
)
Loss from discontinued operations, net
  
$
-
    
$
(1,124
)
  
$
(1,138
)