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x	ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended January 3, 2014
OR
o	TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Delaware	94-1381538
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
600 Montgomery Street, 26th Floor
San Francisco, California	94111-2728
(Address of principal executive offices)	(Zip Code)

 

 

Title of each class:		Name of each exchange on which registered:
Common Shares, par value $.01 per share		New York Stock Exchange

 

 

 

 

 

 

 

 

 

 

 

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PART I
Item 1.	Business			3
Item 1A.	Risk Factors			20
Item 1B.	Unresolved Staff Comments			39
Item 2.	Properties			39
Item 3.	Legal Proceedings			39
Item 4.	Mine Safety Disclosure			39
PART II
Item 5.	Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities			40
Item 6.	Selected Financial Data			42
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations			44
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk			85

Item 8.	Consolidated Financial Statements and Supplementary Data			86
	Consolidated Balance Sheets
	January 3, 2014 and December 28, 2012			87
	Consolidated Statements of Operations
	Years ended January 3, 2014, December 28, 2012, and December 30, 2011			88
	Consolidated Statements of Comprehensive Income
	Years ended January 3, 2014, December 28, 2012, and December 30, 2011			89
	Consolidated Statements of Changes in Stockholders’ Equity
	Years ended January 3, 2014, December 28, 2012, and December 30, 2011			90
	Consolidated Statements of Cash Flows
	Years ended January 3, 2014, December 28, 2012, and December 30, 2011			93
	Notes to Consolidated Financial Statements			95
Item 9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosures			162
Item 9A.	Controls and Procedures			162
Item 9B.	Other Information			163
PART III
Item 10.	Directors, Executive Officers and Corporate Governance			164
Item 11.	Executive Compensation			164
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters			164
Item 13.	Certain Relationships and Related Transactions, and Director Independence			164
Item 14.	Principal Accountant Fees and Services			164
PART IV
Item 15.	Exhibits and Financial Statement Schedules			165

 

 

 

 

 

 

 

 

 

 

 

Market Sector

Representative Services

Federal

Infrastructure

Oil & Gas

Power

Industrial

Program Management

ü

ü

ü

ü

ü

Planning, Design and Engineering

ü

ü

ü

ü

ü

Systems Engineering and Technical Assistance

ü

—

—

—

—

Information Technology Services

ü

—

—

—

—

Construction and Construction Management

ü

ü

ü

ü

ü

Operations and Maintenance

ü

ü

ü

ü

ü

Management and Operations

ü

—

—

—

—

Decommissioning and Closure

ü

—

ü

ü

ü

ü	the service is provided in the market sector.

—	the service is not provided in the market sector.

  

 

 

		Divisions
Market Sectors		Infrastructure & Environment		Federal Services		Energy & Construction		Oil & Gas
Federal		ü		ü		ü		—
Infrastructure		ü		—		ü		—
Oil & Gas		ü		—		ü		ü
Power		ü		—		ü		—
Industrial		ü		—		ü		—

ü	a primary market sector for the division.

—	not a primary market sector for the division.

 

 

 

 

 

 

 

·	Operation and maintenance of complex government installations, including military bases and test ranges;

 

·	Logistics support for government supply and distribution networks, including warehousing, packaging, delivery and traffic management;

 

·	Weapons system design, maintenance and modernization, including acquisition support for new defense systems, and engineering and technical assistance for the modernization of existing systems;

 

·	Maintenance planning to extend the service life of weapons systems and other military equipment;

 

·	Maintenance, modification and overhaul of military aircraft and ground vehicles;

 

·	Training military pilots;

 

·	Management and operations and maintenance services for complex DOE and NDA programs and facilities;

 

·	Deactivation, decommissioning and disposal of nuclear weapons stockpiles and other nuclear waste;

 

·	Safety analyses for high-hazard facilities and licensing for DOE sites;

 

·	Threat assessments of public facilities and the development of force protection and security systems;

 

·	Planning and conducting emergency preparedness exercises;

 

·	First responder training for the military and other government agencies;

 

·	Management and operations and maintenance of chemical agent and chemical weapon disposal facilities;

 

·	Installation of monitoring technology to detect the movement of nuclear and radiological materials across national borders;

 

·	Planning, design and construction of aircraft hangars, barracks, military hospitals and other government buildings;

 

·	Environmental remediation and restoration for the redevelopment of military bases and other government installations; and

 

·	Network and communications engineering, software engineering, IT infrastructure design and implementation, cyber defense and cloud computing technologies.

 

 

 

 

 

 

 

·	Highways, interchanges, bridges, tunnels and toll road facilities;

 

·	Intelligent transportation systems, such as traffic management centers;

 

·	Airport terminals, hangars, cargo facilities and people movers;

 

·	Air traffic control towers, runways, taxiways and aircraft fueling systems;

 

·	Baggage handling, baggage screening and other airport security systems;

 

·	Light rail, subways, bus rapid transit systems, commuter/intercity railroads, heavy rail and high-speed rail systems;

 

·	Rail transportation structures, including terminals, stations, multimodal facilities, parking facilities, bridges and tunnels;

 

·	Piers, wharves, seawalls, recreational marinas and small craft harbors;

 

·	Container terminals, liquid and dry bulk terminals and storage facilities;

 

·	Water supply, storage, distribution and treatment systems;

 

·	Municipal wastewater treatment and sewer systems;

 

·	Dams, levees, watershed and stormwater management, flood control systems and coastal restoration;

 

·	Education, judicial, correctional, healthcare, retail, sports and recreational facilities; and

 

·	Industrial, manufacturing, research and office facilities.

 

 

 

 

 

 

·	Environmental assessments, permitting, compliance, air quality services, waste management and hazardous waste remediation;

 

·	Planning, design, construction and construction management for gas treatment and processing, refining and petrochemical facilities;

 

·	Construction of access roads and well pads, and field production facilities, such as wellhead gas processing equipment, gas compression stations, and oil storage tanks and related facilities;

 

·	Pipeline planning, design, construction, installation, maintenance and repair;

 

·	Energy-related transportation, including rig moving and oilfield equipment hauling services, mobile pressure and vacuum services, and fluid hauling;

 

·	Electrical, mechanical and instrumentation services;

 

·	Equipment and process module fabrication, installation and maintenance;

 

·	Asset management and maintenance services, including routine plant maintenance, coordination of third-party services, sustaining capital projects, and shutdown turnaround services for oil sands production facilities, oil refineries and related chemical, energy, power and processing plants; and

 

·	Demolition, asset recovery and property redevelopment and reuse of former oilfield sites, refineries and other oil and gas facilities.

 

 

 

 

 

·	Fossil fuel power generating facilities;

 

·	Nuclear power generating facilities;

 

·	Hydroelectric power generating facilities;

 

·	Alternative and renewable energy sources, including biomass, geothermal, solar energy and wind systems;

 

·	Transmission and distribution systems; and

 

·	Emissions control systems.

 

 

 

 

 

·	Biotechnology and pharmaceutical research laboratories, pilot plants and production facilities;

 

·	Petrochemical, specialty chemical and polymer facilities;

 

·	Consumer products and food and beverage production facilities;

 

·	Automotive and other manufacturing facilities;

 

·	Pulp and paper production facilities; and

 

·	Mines and mining facilities for base and precious metals, industrial minerals and energy fuels.

 

 

 

 

Divisions

Services

Infrastructure & Environment

Federal Services

Energy & Construction

Oil & Gas

Program Management

ü

ü

ü

—

Planning, Design and Engineering

ü

ü

ü

—

Systems Engineering and Technical Assistance

—

ü

—

—

Information Technology Services

—

ü

—

—

Construction and Construction Management

ü

ü

ü

ü

Operations and Maintenance

ü

ü

ü

ü

Management and Operations

—

—

ü

—

Decommissioning and Closure

ü

ü

ü

—

 

ü	the division provides the listed service.

—	the division does not provide the listed service.

 

 

 

 

·	Master planning;

 

·	Land-use planning;

 

·	Transportation planning;

 

·	Technical and economic feasibility studies;

 

·	Environmental impact assessments;

 

·	Project development/design;

 

·	Permitting;

 

·	Quality assurance and validation;

 

·	Integrated safety management and analysis;

 

·	Alternative design analysis;

 

·	Conceptual and final design documents;

 

·	Technical specifications; and

 

·	Process engineering and design.

 

 

 

·	Defining operational requirements and developing specifications for new weapons systems;

 

·	Reviewing hardware and software design data; and

 

·	Developing engineering documentation for these systems.

 

 

 

 

·	Assisting government agencies in developing, implementing and managing secure, federally compliant cloud computing technologies;

 

·	Cyber defense services, including vulnerability assessments, policy development and management, compliance, incident response, disaster recovery and continuity of operations;

 

·	Engineering, procuring, installing, certifying and operating IT networks; and

 

·	Developing software applications for complex, multi-user, multi-platform systems.

 

 

·	Procuring specified materials and equipment;

 

·	Work force planning and mobilization;

 

·	Supervising and completing physical construction;

 

·	Facility commissioning;

 

·	Managing project milestone and completion schedules;

 

·	Managing project cost controls and accounting;

 

·	Negotiating and expediting change orders;

 

·	Administering job site safety, security and quality control programs; and

 

·	Preparing and delivering construction documentation, including as-built drawings.

 

 

·	Contract administration;

 

·	Change order management;

 

·	Cost and schedule management;

 

·	Safety program and performance monitoring;

 

·	Inspection;

 

·	Quality control and quality assurance;

 

·	Document control; and

 

·	Claims and dispute resolution.

 

 

 

·	Management of military base logistics, including overseeing the operation of government warehousing and distribution centers, as well as government property and asset management;

 

·	Maintenance, modification, overhaul and life service extension services for military vehicles, vessels and aircraft;

 

·	Management, maintenance and operation of chemical agent and chemical weapons disposal systems;

 

·	Comprehensive military flight training services;

 

·	Development and maintenance of high-security systems;

 

·	Integrated facilities and logistics management for industrial and manufacturing facilities;

 

·	Toll road, light rail and airport operations;

 

·	Operating mine and metal and mineral processing facilities;

 

·	Other miscellaneous services such as staffing, repair, renovation, predictive and preventive maintenance, and health and safety services;

 

·	Oil rig moving, setup, and removal services;

 

·	Pressure and vacuum services, and fluid hauling; and

 

·	Asset management and maintenance services for oil sands production facilities, refineries and related chemical, energy, power and processing plants.

 

 

·	Project and facility management;

 

·	Design and engineering for nuclear applications;

 

·	Nuclear facility construction;

 

·	Nuclear decontamination and decommissioning;

 

·	Nuclear and hazardous waste management and disposal services;

 

·	Safety management;

 

·	High-level radioactive waste-tank closure; and

 

·	Waste repository management.

 

 

·	Site assessments;

 

·	Planning, engineering, scoping surveys and cost estimating;

 

·	Due diligence and permitting;

 

·	Environmental remediation;

 

·	Hazardous chemical and waste stabilization, treatment and disposal;

 

·	Asset recovery and evaluation;

 

·	Pipeline removal;

 

·	Structure and facility demolition; and

 

·	Reclamation, redevelopment and reuse.

 

 

 

 

		Year Ended
		January 3,				December 28,				December 30,
(In millions, except percentages)		2014				2012				2011
The U.S. Army (1)
Infrastructure & Environment		$	125.2			$	128.4			$	141.7
Federal Services			1,098.8				1,495.8				1,351.1
Energy & Construction			151.0				130.8				199.5
Total U.S. Army		$	1,375.0			$	1,755.0			$	1,692.3
Revenues from the U.S. Army as a percentage of our consolidated revenues			13	%			16	%			18	%
DOE
Infrastructure & Environment		$	4.7			$	5.6			$	5.9
Federal Services			18.0				27.7				26.8
Energy & Construction			808.5				956.4				1,236.3
Total DOE		$	831.2			$	989.7			$	1,269.0
Revenues from DOE as a percentage of our consolidated revenues			8	%			9	%			13	%
Revenues from the federal market sector as a percentage of our consolidated revenues			34	%			40	%			49	%

(1)	The U.S. Army includes U.S. Army Corps of Engineers.

 

 

 

 

 

 

·	The primary competitors of our Infrastructure & Environment Division include AECOM Technology Corporation, CH2M Hill Companies, Ltd., Chicago Bridge & Iron Company, Fluor Corporation, Jacobs Engineering Group Inc., and Tetra Tech, Inc.

 

·

The primary competitors of our Federal Services Division include AECOM Technology Corporation, BAE Systems, Booz Allen Hamilton, CACI International Inc., CH2M Hill Companies, Computer Sciences Corporation, Dyncorp International, Fluor Corporation, Jacobs Engineering Group Inc., L-3 Communications Holdings Inc., ManTech International Corporation, Parsons Corporation, SAIC, Inc., and Serco Group plc.

 

·

The primary competitors of our Energy & Construction Division include AMEC, Bechtel Corporation, Black & Veatch Corporation, CH2M Hill Companies, Ltd., Chicago Bridge & Iron Company, Fluor Corporation, Granite Construction Company, Jacobs Engineering Group Inc., KBR, Inc., Kiewit Corporation, Quanta Services, Inc., Skanska Group, The Babcock & Wilcox Company, and WorleyParsons, Ltd.

 

·	The primary competitors of our Oil & Gas Division include Aecon Group Inc., Big Country Energy Services LP, EnerMAX Services, J.V. Driver, Jacobs Engineering Group Inc., Ledcor Construction, Matrix Services, Mullen Group Ltd., Kiewit Corporation, TransForce Inc., and Willbros Group, Inc.

 

 

 

 

 

 

 

 

 

 

 

		Infrastructure								Energy
		&				Federal				&
(In millions)		Environment				Services				Construction				Oil & Gas				Total
As of January 3, 2014
Backlog		$	2,890.0			$	2,364.4			$	5,584.0			$	464.3			$	11,302.7
Option years			146.2				2,103.6				1,706.5				—				3,956.3
Indefinite delivery contracts			3,182.8				3,150.2				131.0				1,085.5				7,549.5
Total book of business		$	6,219.0			$	7,618.2			$	7,421.5			$	1,549.8			$	22,808.5
As of December 28, 2012
Backlog		$	3,028.4			$	3,476.9			$	5,947.1			$	823.8			$	13,276.2
Option years			197.3				2,728.1				2,056.8				—				4,982.2
Indefinite delivery contracts			2,572.4				3,238.7				236.0				611.7				6,658.8
Total book of business		$	5,798.1			$	9,443.7			$	8,239.9			$	1,435.5			$	24,917.2

		January 3,				December 28,
(In millions)		2014				2012
Backlog by market sector:
Federal		$	4,891.6			$	6,546.5
Infrastructure			2,683.2				2,957.6
Oil and Gas			1,102.9				1,461.3
Power			1,338.7				1,416.1
Industrial			1,286.3				894.7
Total backlog		$	11,302.7			$	13,276.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name	Position Held		Age
Martin M. Koffel	Chief Executive Officer (“CEO”) and Director since May 1989; President from May 1989 to October 2013; Chairman of the Board since June 1989.			74
Thomas W. Bishop	Executive Chairman, Infrastructure & Environment, U.K., Europe & India since January 2013; Senior Vice President of the Infrastructure & Environment Division since January 2011; Vice President, Strategy since July 2003; Senior Vice President, Construction Services since March 2002.			67
Reed N. Brimhall	Chief Accounting Officer since May 2005; Vice President since May 2003; Corporate Controller from May 2003 to January 2012.			60
H. Thomas Hicks	Executive Vice President and Chief Financial Officer (“CFO”) since May 2013; Vice President and CFO from March 2006 to May 2013.			63
Gary V. Jandegian	President of the Infrastructure & Environment Division and Vice President since July 2003.			61
Susan B. Kilgannon	Vice President, Communications since October 1999.			55
Joseph Masters	Secretary since March 2006; General Counsel since July 1997; Vice President since July 1994.			57
George L. Nash	President of the Energy & Construction Division and Vice President since January 2014; Chief Operating Officer of the Energy & Construction Division from July 2011 to December 2013; General Manager of the Energy & Construction Division Power Business Group from September 2008 to July 2011.			53
Randall A. Wotring	President of the Federal Services Division and Vice President since November 2004.			57

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

·	prices, and expectations about future prices, of oil and natural gas;

 

·	domestic and foreign supply of and demand for oil and natural gas;

 

·	the cost of exploring for, developing, producing and delivering oil and natural gas;

 

·	available pipeline, storage and other transportation capacity;

 

·	availability of qualified personnel and lead times associated with acquiring equipment and products;

 

·	federal, state and local regulation of oilfield activities;

 

·	environmental concerns regarding the methods our customers use to extract natural gas;

 

·	the availability of water resources and the cost of disposal and recycling services; and

 

·	seasonal limitations on access to work locations.

 

 

 

 

 

 

 

 

 

 

 

·	unanticipated issues in integrating information, communications and other systems;

 

·	unanticipated incompatibility of logistics, marketing and administration methods;

 

·	maintaining employee morale and retaining key employees;

 

·	integrating the business cultures of both companies;

 

·	preserving important strategic and customer relationships;

 

·	consolidating corporate and administrative infrastructures and eliminating duplicative operations;

 

·	the diversion of management’s attention from ongoing business concerns; and

 

·	integrating geographically separate organizations.

 

 

 

 

 

 

 

 

 

 

 

 

·	continued deterioration of market and economic conditions that may adversely impact our ability to meet our projected results;

 

·	declines in our stock price caused by continued volatility in the financial markets that may result in increases in our weighted-average cost of capital or other inputs to our goodwill assessment; and

 

·	the occurrence of events that may reduce the fair value of a reporting unit below its carrying amount, such as the sale of a significant portion of one or more of our reporting units.

 

 

·	significant adverse changes in the intangible asset’s market value, useful life, or in the business climate that could affect its value;

 

·	a current-period operating or cash flow loss or a projection or forecast that demonstrates continuing losses associated with the use of the intangible asset; and

 

·	a current expectation that, more likely than not, the intangible asset will be sold or otherwise disposed of before the end of its previously estimated useful life.

 

 

 

 

 

 

 

·	the application of the percentage-of-completion method of revenue recognition on contracts, change orders and contract claims;

 

·	provisions for uncollectible receivables and customer claims and recoveries of costs from subcontractors, vendors and others;

 

·	provisions for income taxes and related valuation allowances;

 

·	impairment of goodwill and recoverability of other intangible assets;

 

·	valuation of assets acquired and liabilities assumed in connection with business combinations;

 

·	valuation of defined benefit pension plans and other employee benefit plans;

 

·	valuation of stock-based compensation expense; and

 

·	accruals for estimated liabilities, including litigation and insurance reserves.

 

 

 

 

·	our ability to transition employees from completed projects to new assignments and to hire and assimilate new employees;

 

·	our ability to forecast demand for our services and thereby maintain an appropriate headcount in each of our geographies and workforces;

 

·	our ability to manage attrition;

 

·	our need to devote time and resources to training, business development, professional development and other non-chargeable activities; and

 

·	our ability to match the skill sets of our employees to the needs of the marketplace.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

·	increase our vulnerability to, and limit flexibility in planning for, adverse economic and industry conditions;

 

·	adversely affect our ability to obtain surety bonds;

 

·	affect our credit rating;

 

·	limit our ability to obtain additional financing to fund future working capital, capital expenditures, additional acquisitions and other general corporate initiatives; and

 

·	limit our ability to apply proceeds from an asset sale to purposes other than the servicing and repayment of debt.

 

 

 

 

 

 

 

 

·	incur additional indebtedness;

 

·	declare or pay dividends to our stockholders;

 

·	repurchase or redeem our stock;

 

·	repay indebtedness that is junior to our 2011 Credit Facility;

 

·	make investments;

 

·	create liens securing debt or other encumbrances on our assets;

 

·	enter into sale-leaseback transactions;

 

·	enter into transactions with our stockholders and affiliates; and

 

·	sell or exchange assets.

 

 

 

 

·	lack of developed legal systems to enforce contractual rights;

 

·	greater risk of uncollectible accounts and longer collection cycles;

 

·	foreign currency exchange volatility;

 

·	uncertain and changing tax rules, regulations and rates;

 

·	logistical and communication challenges;

 

·	potentially adverse changes in laws and regulatory practices;

 

·	changes in labor conditions;

 

·	general economic, political and financial conditions in foreign markets; and

 

·

exposure to civil or criminal liability under the Foreign Corrupt Practices Act, the U.K. Bribery Act, the Canadian Corruption of Foreign Public Officials Act, the Corporate Manslaughter and Corporate Homicide Act, the anti-boycott rules, trade and export control regulations, as well as other international regulations.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property Location		Reporting Segment
Princeton, NJ		Energy & Construction
New York, NY		Infrastructure & Environment
Denver, CO		Energy & Construction
Chantilly, VA		Federal Services
Tampa, FL		Infrastructure & Environment
Denver, CO		Infrastructure & Environment
Germantown, MD		Infrastructure & Environment
San Francisco, CA		Corporate / Infrastructure & Environment
Germantown, MD		Federal Services
Boise, ID		Energy & Construction

 

 

 

 

 

 

 

 

		Sales Price per Share
		Low				High				Dividends Declared per Share
2013
First Quarter		$	38.38			$	47.49			$	0.21
Second Quarter		$	42.44			$	49.45			$	0.21
Third Quarter		$	45.21			$	55.79			$	0.21
Fourth Quarter		$	50.10			$	55.68			$	0.21
2012
First Quarter		$	35.40			$	47.16			$	0.20
Second Quarter		$	32.13			$	43.64			$	0.20
Third Quarter		$	32.76			$	38.88			$	0.20
Fourth Quarter		$	33.20			$	40.27			$	0.20

 

 

 

		(a) Total Number of Shares Purchased (1,2)		(b) Average Price Paid per Share			(c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)		(d) Maximum Number of Shares that May Yet be Purchased Under the Plans or Programs (2)
		(In millions, except average price paid per share)
October 5, 2013 – November 1, 2013		—†		$	55.23		—		4.0
November 2, 2013 – November 29, 2013		—†			52.12		—		4.0
November 30, 2013 – January 3, 2014		—†			51.34		—		4.0
Total		—					—

(1)

Reflects purchases of shares previously issued pursuant to awards issued under our equity incentive plans, which allow our employees to surrender shares of our common stock as payment toward the exercise cost and tax withholding obligations associated with the exercise of stock options or the vesting of restricted or deferred stock.

 

(2)

For fiscal years 2012 and 2013, the authorized shares under the repurchase program were 3.0 million shares, plus the number of shares equal to the difference between the number of shares authorized to be repurchased in the prior year and the actual number of shares repurchased during the prior year, not to exceed 6.0 million shares in aggregate.  In February 2014, our Board of Directors approved a modification of our stock repurchase program to allow for the repurchase of up to 12.0 million shares of our common stock in fiscal year 2014.  The Board of Directors may modify, suspend, extend or terminate the program at any time.

 

†

Represents less than half a million shares.

 

 

 

 

			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
			January 3,			December 28,			December 30,			December 31,			January 1,
(In millions, except per share data)			2014 (1)			2012 (1,2)			2011 (1,2)			2010 (1,2)			2010 (1)
Income Statement Data:
Revenues			$	10,990.7		$	10,972.5		$	9,545.0		$	9,177.1		$	9,249.1
Cost of revenues				(10,416.0)			(10,294.5)			(8,988.8)			(8,609.5)			(8,772.4)
General and administrative expenses				(77.5)			(83.6)			(79.5)			(71.0)			(75.8)
Acquisition-related expenses (2)				—			(16.1)			(1.0)			(11.9)			—
Restructuring costs (3)				—			—			(5.5)			(10.6)			—
Goodwill impairment (4)				—			—			(351.3)			—			—
Impairment of an intangible asset (5)				—			—			—			—			(32.8)
Equity in income of unconsolidated joint ventures (6)				93.6			107.6			132.2			70.3			100.9
Operating income				590.8			685.9			251.1			544.4			469.0
Other income (expenses) (7)				(7.7)			0.5			—			—			47.9
Net income (loss) attributable to URS				247.2			310.6			(42.9)			287.9			269.1
Earnings (loss) per share:
	Basic		$	3.35		$	4.18		$	(0.56)		$	3.56		$	3.31
	Diluted		$	3.31		$	4.17		$	(0.56)		$	3.54		$	3.29
Cash dividends declared per share (8)			$	0.84		$	0.80		$	—		$	—		$	—
Balance Sheet Data (As of the end of the period):
Total assets			$	8,718.0		$	9,261.0		$	7,337.1		$	7,351.4		$	6,904.4
Total long-term debt (9)			$	1,666.9		$	1,992.5		$	737.0		$	641.3		$	689.7
Total URS stockholders’ equity (8)			$	4,081.2		$	4,044.0		$	3,800.1		$	4,117.2		$	3,905.8
Total noncontrolling interests			$	145.8		$	141.9		$	107.2		$	83.8		$	44.7
Total stockholders’ equity			$	4,227.0		$	4,185.9		$	3,907.3		$	4,201.0		$	3,950.5