Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended | |
Jun. 28, 2013 | Jul. 29, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q/A | ' |
Amendment Description | 'Amending Form 10-Q filed on 2013-08-06 | ' |
Amendment Flag | 'true | ' |
Document Period End Date | 28-Jun-13 | ' |
Entity Registrant Name | 'URS CORP /NEW/ | ' |
Entity Central Index Key | '0000102379 | ' |
Current Fiscal Year End Date | '--01-03 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 74,888,775 |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Jun. 28, 2013 | Dec. 28, 2012 | ||
Current assets: | ' | ' | ||
Cash and cash equivalents | $234,100,000 | $314,500,000 | ||
Accounts receivable, including retentions of $136.4 and $114.4, respectively | 1,469,000,000 | 1,554,800,000 | ||
Costs and accrued earnings in excess of billings on contracts | 1,330,700,000 | 1,384,300,000 | ||
Less receivable allowances | -63,800,000 | -69,700,000 | ||
Net accounts receivable | 2,735,900,000 | 2,869,400,000 | ||
Deferred tax assets | 54,200,000 | 67,600,000 | ||
Inventory | 55,100,000 | 61,500,000 | ||
Other current assets | 222,400,000 | 204,200,000 | ||
Total current assets | 3,301,700,000 | 3,517,200,000 | ||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 256,200,000 | 278,300,000 | ||
Property and equipment at cost, net | 647,100,000 | [1] | 687,500,000 | [1] |
Intangible assets, net | 624,500,000 | 692,200,000 | ||
Goodwill | 3,689,000,000 | 3,721,600,000 | ||
Other long-term assets | 459,000,000 | 364,200,000 | ||
Total assets | 8,977,500,000 | 9,261,000,000 | ||
Current liabilities: | ' | ' | ||
Current portion of long-term debt | 85,700,000 | 71,800,000 | ||
Accounts payable and subcontractors payable, including retentions of $32.5 and $32.3, respectively | 680,200,000 | 803,500,000 | ||
Accrued salaries and employee benefits | 487,900,000 | 558,800,000 | ||
Billings in excess of costs and accrued earnings on contracts | 260,600,000 | 289,100,000 | ||
Other current liabilities | 230,600,000 | 277,800,000 | ||
Total current liabilities | 1,745,000,000 | 2,001,000,000 | ||
Long-term debt | 2,005,000,000 | 1,992,500,000 | ||
Deferred tax liabilities | 382,300,000 | 379,900,000 | ||
Self-insurance reserves | 128,000,000 | 129,800,000 | ||
Pension and post-retirement benefit obligations | 284,900,000 | 300,900,000 | ||
Other long-term liabilities | 285,800,000 | 271,000,000 | ||
Total liabilities | 4,831,000,000 | 5,075,100,000 | ||
Commitments and contingencies | ' | ' | ||
URS stockholders' equity: | ' | ' | ||
Preferred stock, authorized 3.0 shares; no shares outstanding | 0 | 0 | ||
Common stock par value $.01; authorized 200.0 shares; 89.0 and 88.9 shares issued, respectively; and 74.9 and 76.8 shares outstanding, respectively | 900,000 | 900,000 | ||
Treasury stock, 14.1 and 12.1 shares at cost, respectively | -588,200,000 | -494,900,000 | ||
Additional paid-in capital | 3,024,000,000 | 3,003,900,000 | ||
Accumulated other comprehensive loss | -182,600,000 | -113,200,000 | ||
Retained earnings | 1,754,500,000 | 1,647,300,000 | ||
Total URS stockholders' equity | 4,008,600,000 | 4,044,000,000 | ||
Noncontrolling interests | 137,900,000 | 141,900,000 | ||
Total stockholders' equity | 4,146,500,000 | 4,185,900,000 | ||
Total liabilities and stockholders' equity | $8,977,500,000 | $9,261,000,000 | ||
[1] | The unamortized computer software costs were $72.7 million and $71.1 million, respectively, as of June 28, 2013 and December 28, 2012. |
PARENTHETICAL_DATA_TO_THE_COND
PARENTHETICAL DATA TO THE CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Jun. 28, 2013 | Dec. 28, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Current assets: | ' | ' |
Accounts receivable retentions | $136.40 | $114.40 |
Current liabilities: | ' | ' |
Accounts payable and subcontractors payable retentions | $32.50 | $32.30 |
URS stockholders' equity: | ' | ' |
Preferred stock, authorized shares | 3,000,000 | 3,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, authorized shares | 200,000,000 | 200,000,000 |
Common stock shares issued | 89,000,000 | 88,900,000 |
Common stock shares outstanding | 74,900,000 | 76,800,000 |
Treasury stock shares at cost | 14,100,000 | 12,100,000 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Millions, except Per Share data, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | ||||
Income Statement [Abstract] | ' | ' | ' | ' | ||||
Revenues | $2,792 | $2,690.70 | $5,594.50 | $5,052.20 | ||||
Cost of revenues | -2,641.60 | -2,527.50 | -5,292.90 | -4,730.70 | ||||
General and administrative expenses | -22.9 | -19.4 | -45.6 | -39.4 | ||||
Acquisition-related expenses | ' | -11.3 | ' | -16.9 | ||||
Equity in income (loss) of unconsolidated joint ventures | 17.9 | 17 | 42 | 45.7 | ||||
Operating income (loss) | 145.4 | 149.5 | 298 | 310.9 | ||||
Interest expense | -21.5 | -20.7 | -42.6 | -30.5 | ||||
Other income (expenses) | -3.3 | -9.2 | -5.8 | -6.7 | ||||
Income (loss) before income taxes | 120.6 | 119.6 | 249.6 | 273.7 | ||||
Income tax benefit (expense) | -38.9 | -40.5 | -81.1 | -89.1 | ||||
Net income (loss) including noncontrolling interests | 81.7 | 79.1 | 168.5 | 184.6 | ||||
Noncontrolling interests in income of consolidated subsidiaries | -14.4 | -25.5 | -29.3 | -51.3 | ||||
Net income (loss) attributable to URS | $67.30 | $53.60 | $139.20 | $133.30 | ||||
Earnings (loss) per share: | ' | ' | ' | ' | ||||
Basic | $0.91 | $0.72 | $1.88 | $1.80 | ||||
Diluted | $0.91 | $0.72 | $1.87 | $1.79 | ||||
Weighted-average shares of common stock outstanding: | ' | ' | ' | ' | ||||
Basic | 73.8 | [1] | 74.2 | [1] | 74.1 | [1] | 74.1 | [1] |
Diluted | 74 | 74.6 | 74.4 | 74.4 | ||||
Cash dividends declared per share | $0.21 | $0.20 | $0.42 | $0.40 | ||||
[1] | Weighted-average shares of common stock outstanding is net of treasury stock. |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 |
Comprehensive income (loss): | ' | ' | ' | ' |
Net income (loss) including noncontrolling interests | $81.70 | $79.10 | $168.50 | $184.60 |
Pension and post-retirement related adjustments, net of tax | 2.2 | 1 | 6.1 | 2.1 |
Foreign currency translation adjustments, net of tax | -39.2 | -33.7 | -75.5 | -12.6 |
Loss on derivative instruments, net of tax | ' | ' | ' | -0.7 |
Comprehensive income (loss) | 44.7 | 46.4 | 99.1 | 173.4 |
Noncontrolling interests in comprehensive income of consolidated subsidiaries | -14.4 | -25.5 | -29.3 | -51.3 |
Comprehensive income (loss) attributable to URS | $30.30 | $20.90 | $69.80 | $122.10 |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $) | Total | Common Stock Activities [Member] | Treasury Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | Total URS Stockholders' Equity | Noncontrolling Interests |
In Millions | ||||||||
Beginning Balances at Dec. 30, 2011 | $3,907.30 | $0.90 | ($454.90) | $2,966.80 | ($110.80) | $1,398.10 | $3,800.10 | $107.20 |
Beginning Balances (in shares) at Dec. 30, 2011 | ' | 76.7 | ' | ' | ' | ' | ' | ' |
Employee stock purchases and exercises of stock options | 6.2 | ' | ' | 6.2 | ' | ' | 6.2 | ' |
Employee stock purchases and exercises of stock options (in shares) | ' | 0.2 | ' | ' | ' | ' | ' | ' |
Stock repurchased in connection with exercises of stock options and vesting of restricted stock awards | -14.5 | ' | ' | -14.5 | ' | ' | -14.5 | ' |
Stock repurchased in connection with exercises of stock options and vesting of restricted stock awards (in shares) | ' | -0.3 | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 21.3 | ' | ' | 21.3 | ' | ' | 21.3 | ' |
Stock-based compensation (in shares) | ' | 1.2 | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments, net of tax | -12.6 | ' | ' | ' | -12.6 | ' | -12.6 | ' |
Pension and post-retirement related adjustments, net of tax | 2.1 | ' | ' | ' | 2.1 | ' | 2.1 | ' |
Loss on derivative instruments, net of tax | -0.7 | ' | ' | ' | -0.7 | ' | -0.7 | ' |
Repurchases of common stock | -40 | ' | -40 | ' | ' | ' | -40 | ' |
Repurchases of common stock (in shares) | ' | -1 | ' | ' | ' | ' | ' | ' |
Cash dividends declared | -30.6 | ' | ' | ' | ' | -30.6 | -30.6 | ' |
Noncontrolling interests from an acquisition | 2 | ' | ' | ' | ' | ' | ' | 2 |
Distributions to noncontrolling interests | -35.2 | ' | ' | ' | ' | ' | ' | -35.2 |
Contributions and advances from noncontrolling interests | 0.7 | ' | ' | ' | ' | ' | ' | 0.7 |
Other transactions with noncontrolling interests | 1.8 | ' | ' | ' | ' | ' | ' | 1.8 |
Net income (loss) including noncontrolling interests | 184.6 | ' | ' | ' | ' | 133.3 | 133.3 | 51.3 |
Ending Balances at Jun. 29, 2012 | 3,992.40 | 0.9 | -494.9 | 2,979.80 | -122 | 1,500.80 | 3,864.60 | 127.8 |
Ending Balances (in shares) at Jun. 29, 2012 | ' | 76.8 | ' | ' | ' | ' | ' | ' |
Beginning Balances at Dec. 28, 2012 | 4,185.90 | 0.9 | -494.9 | 3,003.90 | -113.2 | 1,647.30 | 4,044 | 141.9 |
Beginning Balances (in shares) at Dec. 28, 2012 | 76.8 | 76.8 | ' | ' | ' | ' | ' | ' |
Employee stock purchases and exercises of stock options | 13.3 | ' | ' | 13.3 | ' | ' | 13.3 | ' |
Employee stock purchases and exercises of stock options (in shares) | ' | 0.4 | ' | ' | ' | ' | ' | ' |
Stock repurchased in connection with exercises of stock options and vesting of restricted stock awards | -17.5 | ' | ' | -17.5 | ' | ' | -17.5 | ' |
Stock repurchased in connection with exercises of stock options and vesting of restricted stock awards (in shares) | ' | -0.4 | ' | ' | ' | ' | ' | ' |
Stock-based compensation | 22.7 | ' | ' | 22.7 | ' | ' | 22.7 | ' |
Stock-based compensation (in shares) | ' | 0.1 | ' | ' | ' | ' | ' | ' |
Excess tax benefits from stock-based compensation | 1.6 | ' | ' | 1.6 | ' | ' | 1.6 | ' |
Foreign currency translation adjustments, net of tax | -75.5 | ' | ' | ' | -75.5 | ' | -75.5 | ' |
Pension and post-retirement related adjustments, net of tax | 6.1 | ' | ' | ' | 6.1 | ' | 6.1 | ' |
Repurchases of common stock | -93.3 | ' | -93.3 | ' | ' | ' | -93.3 | ' |
Repurchases of common stock (in shares) | ' | -2 | ' | ' | ' | ' | ' | ' |
Cash dividends declared | -32 | ' | ' | ' | ' | -32 | -32 | ' |
Distributions to noncontrolling interests | -31.7 | ' | ' | ' | ' | ' | ' | -31.7 |
Other transactions with noncontrolling interests | -1.6 | ' | ' | ' | ' | ' | ' | -1.6 |
Net income (loss) including noncontrolling interests | 168.5 | ' | ' | ' | ' | 139.2 | 139.2 | 29.3 |
Ending Balances at Jun. 28, 2013 | $4,146.50 | $0.90 | ($588.20) | $3,024 | ($182.60) | $1,754.50 | $4,008.60 | $137.90 |
Ending Balances (in shares) at Jun. 28, 2013 | 74.9 | 74.9 | ' | ' | ' | ' | ' | ' |
CONDENSED_CONSOLIDATED_STATEME3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 |
Cash flows from operating activities: | ' | ' |
Net income (loss) including noncontrolling interests | $168.50 | $184.60 |
Adjustments to reconcile net income to net cash from operating activities: | ' | ' |
Depreciation and amortization | 79.1 | 50.4 |
Amortization of intangible assets | 54.5 | 42.6 |
Amortization of debt issuance costs and discount/premium | 0.3 | 2.5 |
Foreign currency gains (losses) related to foreign currency derivatives and intercompany loans | 5.8 | 6.7 |
Normal profit | -0.9 | -2.4 |
Provision for doubtful accounts | 2.4 | ' |
Loss (gain) on disposal of property and equipment | -9.5 | -1 |
Deferred income taxes | 12.4 | 18.9 |
Stock-based compensation | 22.7 | 21.3 |
Excess tax benefits from stock-based compensation | -1.6 | ' |
Equity in income (loss) of unconsolidated joint ventures | -42 | -45.7 |
Dividends received from unconsolidated joint ventures | 52.1 | 46.5 |
Changes in operating assets, liabilities and other, net of effects of business acquisitions: | ' | ' |
Accounts receivable and costs and accrued earnings in excess of billings on contracts | 126.9 | -123.9 |
Inventory | 6.5 | 0.8 |
Other current assets | 15 | -13 |
Advances to unconsolidated joint ventures | 3.2 | -1.1 |
Accounts payable, accrued salaries and employee benefits, and other current liabilities | -279 | -170.3 |
Billings in excess of costs and accrued earnings on contracts | -20.7 | -34.3 |
Other long-term liabilities | 25.9 | -2.7 |
Other long-term assets | -131.3 | 40.4 |
Total adjustments and changes | -78.2 | -164.3 |
Net cash from operating activities | 90.3 | 20.3 |
Cash flows from investing activities: | ' | ' |
Payments for business acquisitions, net of cash acquired | ' | -1,345.70 |
Proceeds from disposal of property and equipment | 26 | 13 |
Payments in settlement of foreign currency forward contract | ' | -1,260.60 |
Receipts in settlement of foreign currency forward contract | ' | 1,260.30 |
Investments in unconsolidated joint ventures | -0.1 | -2 |
Changes in restricted cash | 1.7 | ' |
Capital expenditures, less equipment purchased through capital leases and equipment notes | -45.9 | -49 |
Net cash from investing activities | -18.3 | -1,384 |
Cash flows from financing activities: | ' | ' |
Borrowings from long-term debt | ' | 998.9 |
Payments on long-term debt | -2.3 | -3.1 |
Borrowings from revolving line of credit | 858.4 | 560 |
Payments on revolving line of credit | -822.6 | -263.6 |
Net payments under foreign lines of credit and short-term notes | -14.6 | -6.6 |
Net change in overdrafts | -13.4 | 30.8 |
Payments on capital lease obligations | -9.1 | -5 |
Payments of debt issuance costs | ' | -8.8 |
Excess tax benefits from stock-based compensation | 1.6 | ' |
Proceeds from employee stock purchases and exercises of stock options | 13.3 | 6.2 |
Distributions to noncontrolling interests | -31.7 | -35.2 |
Contributions and advances from noncontrolling interests | ' | 2.2 |
Dividends paid | -31.4 | -14.9 |
Repurchases of common stock | -93.3 | -40 |
Net cash from financing activities | -145.1 | 1,220.90 |
Net change in cash and cash equivalents | -73.1 | -142.8 |
Effect of foreign exchange rate changes on cash and cash equivalents | -7.3 | -5.4 |
Cash and cash equivalents at beginning of period | 314.5 | 436 |
Cash and cash equivalents at end of period | 234.1 | 287.8 |
Supplemental information: | ' | ' |
Interest paid | 40.4 | 18.3 |
Taxes paid | 98.2 | 82.7 |
Supplemental schedule of non-cash investing and financing activities: | ' | ' |
Equipment acquired with capital lease obligations and equipment note obligations | 28.6 | 10.5 |
Cash dividends declared but not paid | $16 | $15.70 |
BUSINESS_BASIS_OF_PRESENTATION
BUSINESS, BASIS OF PRESENTATION, AND ACCOUNTING POLICIES | 6 Months Ended | |||||||||||||||||
Jun. 28, 2013 | ||||||||||||||||||
Notes to Financial Statements [Abstract] | ' | |||||||||||||||||
BUSINESS, BASIS OF PRESENTATION, AND ACCOUNTING POLICIES | ' | |||||||||||||||||
NOTE 1. BUSINESS, BASIS OF PRESENTATION, AND ACCOUNTING POLICIES | ||||||||||||||||||
Overview | ||||||||||||||||||
The terms “we,” “us,” and “our” used in these financial statements refer to URS Corporation and its consolidated subsidiaries unless otherwise indicated. We are a leading international provider of engineering, construction and technical services. We offer a broad range of program management, planning, design, engineering, construction and construction management, operations and maintenance, and decommissioning and closure services to public agencies and private sector clients around the world. We also are a United States (“U.S.”) federal government contractor in the areas of systems engineering and technical assistance, operations and maintenance, and information technology (“IT”) services. Headquartered in San Francisco, we have more than 50,000 employees in a global network of offices in nearly 50 countries. We operate through four reporting segments: the Infrastructure & Environment Division, the Federal Services Division, the Energy & Construction Division, and the Oil & Gas Division. Our Oil & Gas Division is composed of the former operations of Flint Energy Services Ltd. (“Flint”), which we acquired on May 14, 2012. | ||||||||||||||||||
The accompanying unaudited condensed consolidated financial statements and related notes have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the U.S. for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. | ||||||||||||||||||
You should read our unaudited condensed consolidated financial statements in conjunction with the audited consolidated financial statements and related notes contained in our Annual Report on Form 10-K/A for the fiscal year ended December 28, 2012. The results of operations for the three and six months ended June 28, 2013 are not indicative of the operating results for the full year or for future years. | ||||||||||||||||||
In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all normal and recurring adjustments that are necessary for a fair statement of our financial position, results of operations and cash flows for the interim periods presented. | ||||||||||||||||||
The preparation of our unaudited condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the balance sheet dates as well as the reported amounts of revenues and costs during the reporting periods. Actual results could differ from those estimates. On an ongoing basis, we review our estimates based on information that is currently available. Changes in facts and circumstances may cause us to revise our estimates. | ||||||||||||||||||
Principles of Consolidation and Basis of Presentation | ||||||||||||||||||
Our condensed consolidated financial statements include the financial position, results of operations and cash flows of URS Corporation and our majority-owned subsidiaries and joint ventures that are required to be consolidated. | ||||||||||||||||||
The operating results of Flint prior to the acquisition date, May 14, 2012, are not included in our condensed consolidated financial statements. See Note 8, “Acquisition,” for more information regarding this acquisition. | ||||||||||||||||||
Investments in unconsolidated joint ventures are accounted for using the equity method and are included as investments in and advances to unconsolidated joint ventures on our Condensed Consolidated Balance Sheets. All significant intercompany transactions and accounts have been eliminated in consolidation. | ||||||||||||||||||
Restatement of Previously Reported Consolidated Financial Statements | ||||||||||||||||||
We have restated our Condensed Consolidated Balance Sheets as of June 28, 2013 and December 28, 2012 and Condensed Consolidated Statements of Changes in Stockholders' Equity for the six months ended June 28, 2013 and June 29, 2012 and the related notes due to the incorrect application of Financial Accounting Standards Board Accounting Standards Codification 350 “Intangibles – Goodwill and Other” (“ASC 350”) during our annual and interim goodwill impairment analysis. This error resulted in an overstatement of our goodwill impairment charge of $474.5 million, an understatement of income tax expense of $51.6 million, an overstatement of net loss including noncontrolling interests of $422.9 million and an overstatement of net loss attributable to URS of $422.9 million ($5.47 per share) in our Consolidated Statement of Operations for the year ended December 30, 2011. In addition, this error resulted in an understatement in goodwill of $474.5 million, an understatement of long-term deferred tax liabilities of $51.6 million and an understatement of retained earnings of $422.9 million in our Consolidated Balance Sheets as of December 28, 2012 and December 30, 2011. Concurrently with this Form 10-Q/A, we are also amending and restating our Form 10-Q for the quarterly period ended March 29, 2013 and our Form 10-K for the year ended December 28, 2012. | ||||||||||||||||||
This error was related to treatment of noncontrolling interests within the fair value calculation of our reporting units. During the course of the interim goodwill impairment analysis performed during the period ended September 27, 2013, we determined that the methodology used previously to calculate the fair values of our reporting units did not comply with the applicable goodwill accounting guidance. We calculated the fair values of our reporting units excluding the portion attributable to the noncontrolling interests of our subsidiaries that are not wholly-owned, which was not consistent with the required guidance in ASC 350. The revised fair value calculations resulted in an increase to the fair values of our reporting units that have noncontrolling interests. | ||||||||||||||||||
As Reported | Adjustment | As Restated | ||||||||||||||||
(In millions) | ||||||||||||||||||
Consolidated Balance Sheet Data: | ||||||||||||||||||
Balance as of June 28, 2013 | ||||||||||||||||||
Goodwill | $ | 3,214.50 | $ | 474.5 | $ | 3,689.00 | ||||||||||||
Total assets | $ | 8,503.00 | $ | 474.5 | $ | 8,977.50 | ||||||||||||
Deferred tax liabilities | $ | 330.7 | $ | 51.6 | $ | 382.3 | ||||||||||||
Total liabilities | $ | 4,779.40 | $ | 51.6 | $ | 4,831.00 | ||||||||||||
Retained earnings | $ | 1,331.60 | $ | 422.9 | $ | 1,754.50 | ||||||||||||
Total URS stockholders' equity | $ | 3,585.70 | $ | 422.9 | $ | 4,008.60 | ||||||||||||
Total stockholders' equity | $ | 3,723.60 | $ | 422.9 | $ | 4,146.50 | ||||||||||||
Total liabilities and stockholders' equity | $ | 8,503.00 | $ | 474.5 | $ | 8,977.50 | ||||||||||||
Balance as of December 28, 2012 | ||||||||||||||||||
Goodwill | $ | 3,247.10 | $ | 474.5 | $ | 3,721.60 | ||||||||||||
Total assets | $ | 8,786.50 | $ | 474.5 | $ | 9,261.00 | ||||||||||||
Deferred tax liabilities | $ | 328.3 | $ | 51.6 | $ | 379.9 | ||||||||||||
Total liabilities | $ | 5,023.50 | $ | 51.6 | $ | 5,075.10 | ||||||||||||
Retained earnings | $ | 1,224.40 | $ | 422.9 | $ | 1,647.30 | ||||||||||||
Total URS stockholders' equity | $ | 3,621.10 | $ | 422.9 | $ | 4,044.00 | ||||||||||||
Total stockholders' equity | $ | 3,763.00 | $ | 422.9 | $ | 4,185.90 | ||||||||||||
Total liabilities and stockholders' equity | $ | 8,786.50 | $ | 474.5 | $ | 9,261.00 | ||||||||||||
Consolidated Statement of Changes in Stockholders' Equity Data: | ||||||||||||||||||
Balance as of December 30, 2011 | ||||||||||||||||||
Retained earnings | $ | 975.2 | $ | 422.9 | $ | 1,398.10 | ||||||||||||
Total URS stockholders' equity | $ | 3,377.20 | $ | 422.9 | $ | 3,800.10 | ||||||||||||
Total stockholders' equity | $ | 3,484.40 | $ | 422.9 | $ | 3,907.30 | ||||||||||||
For the Six Months Ended June 29, 2012 | ||||||||||||||||||
Retained earnings | $ | 1,077.90 | $ | 422.9 | $ | 1,500.80 | ||||||||||||
Total URS stockholders' equity | $ | 3,441.70 | $ | 422.9 | $ | 3,864.60 | ||||||||||||
Total stockholders' equity | $ | 3,569.50 | $ | 422.9 | $ | 3,992.40 | ||||||||||||
Balance as of December 28, 2012 | ||||||||||||||||||
Retained earnings | $ | 1,224.40 | $ | 422.9 | $ | 1,647.30 | ||||||||||||
Total URS stockholders' equity | $ | 3,621.10 | $ | 422.9 | $ | 4,044.00 | ||||||||||||
Total stockholders' equity | $ | 3,763.00 | $ | 422.9 | $ | 4,185.90 | ||||||||||||
For the Six Months Ended June 28, 2013 | ||||||||||||||||||
Retained earnings | $ | 1,331.60 | $ | 422.9 | $ | 1,754.50 | ||||||||||||
Total URS stockholders' equity | $ | 3,585.70 | $ | 422.9 | $ | 4,008.60 | ||||||||||||
Total stockholders' equity | $ | 3,723.60 | $ | 422.9 | $ | 4,146.50 | ||||||||||||
Reclassifications | ||||||||||||||||||
We made reclassifications to the prior year's financial statements to conform them to the current period's presentation. These reclassifications have no effect on our consolidated net cash flows or consolidated net income. | ||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||
Cash and cash equivalents include all highly liquid investments with maturities of 90 days or less at the date of purchase and include interest-bearing bank deposits and money market funds. At June 28, 2013 and December 28, 2012, our restricted cash balances were $15.4 million and $17.1 million, respectively. These amounts were included in “Other current assets” on our Condensed Consolidated Balance Sheets. For cash held by our consolidated joint ventures, see Note 6, “Joint Ventures.” | ||||||||||||||||||
Use of and Changes in Estimates | ||||||||||||||||||
Our business activities involve making significant estimates and assumptions in the normal course of business relating to our contracts. We focus on evaluating the performance of contracts individually. These estimates and assumptions can vary in the normal course of business as contracts progress, when estimated productivity assumptions change based on experience to-date and as uncertainties are resolved. We use the cumulative catch-up method applicable to construction contract accounting to account for revisions in estimates. | ||||||||||||||||||
During the six months ended June 28, 2013, our results of operations included the recognition of $25.8 million of performance-based incentive fees from our work managing chemical demilitarization programs. These changes in estimates resulted in increases of $25.8 million in operating income, $15.5 million in net income and $0.21 in diluted earnings per common share (“diluted EPS”) for the six months ended June 28, 2013. There were no material changes in estimates for the three months ended June 28, 2013. | ||||||||||||||||||
During the six months ended June 29, 2012, our results of operations included the recognition of a $40.0 million programmatic schedule incentive fee achieved when multiple chemical demilitarization contracts each met its milestones during the period. This change in estimate resulted in increases of $40.0 million in operating income, $24.0 million in net income, and $0.32 in diluted EPS for the six months ended June 29, 2012. There were no material changes in estimates for the three months ended June 29, 2012. |
ADOPTED_AND_OTHER_RECENTLY_ISS
ADOPTED AND OTHER RECENTLY ISSUED STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS | 6 Months Ended |
Jun. 28, 2013 | |
Notes to Financial Statements [Abstract] | ' |
ADOPTED AND OTHER RECENTLY ISSUED STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS | ' |
NOTE 2. ADOPTED AND OTHER RECENTLY ISSUED STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS | |
An amendment to the accounting standard related to the presentation of other comprehensive income was issued. It requires public entities to provide information about amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income and, in some cases, cross-references to related footnote disclosures. This portion of the standard was effective for us beginning with our first interim period in fiscal year 2013. See Note 16, “Reclassifications Out of Accumulated Other Comprehensive Income (Loss),” for more information. The adoption of this standard did not have a material impact on our condensed consolidated financial statements. | |
An accounting standard update was issued related to new disclosures on offsetting assets and liabilities of financial and derivative instruments. The amendments require the disclosure of gross asset and liability amounts, amounts offset on the balance sheet and amounts subject to the offsetting requirements, but not offset on the balance sheet. This standard does not amend the existing guidance on when it is appropriate to offset. An amendment to this standard was subsequently issued to clarify the intended scope of the disclosures. It applies to derivatives, repurchase agreements, and securities lending transactions that are either offset in accordance with Topic 815, Derivatives and Hedging, or subject to an enforceable master netting arrangement or similar agreement. The amended standard update was effective for us beginning with our first interim period in fiscal year 2013. The adoption of this standard did not have a material impact on our condensed consolidated financial statements. | |
An accounting standard update was issued related to obligations stemming from joint and several liability arrangements. It addresses the recognition, measurement and disclosure of obligations when multiple parties incur joint liabilities where the total amount of the obligation is fixed at the financial reporting date. The standard requires the recognition of the total amount of the liability that the parties are obligated to pay under an arrangement, along with any additional amount the company might expect to pay on behalf of other parties to the liability. This standard is effective for periods beginning with our first interim period in fiscal year 2014, with an option for early adoption. We have adopted this standard early, in connection with the filing of our Form 8-K on April 17, 2013, as amended. See Note 17, “Condensed Consolidating Financial Information.” | |
An accounting standard was issued related to derivatives and hedging. Prior to this standard, the only interest rates that were permitted to be used as benchmark interest rates in a fair value or cash flow hedge were the interest rates on direct Treasury obligations of the U.S. government (UST) and the London Interbank Offered Rate (“LIBOR”) swap rate. The new standard allows the use of the Fed Funds rate (the interest rate at which depository institutions lend balances to each other overnight) as a benchmark rate. The standard also eliminates the need to designate the same benchmark interest rate for similar hedges. Additionally, it removes language indicating that the use of different benchmark interest rates for similar hedges “shall be rare and shall be justified.” The new standard is effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. We do not expect that the adoption of this standard will have a material impact on our condensed consolidated financial statements. | |
An accounting standard update was issued related to foreign currency matters. The standard update addresses the accounting for the release of cumulative translation adjustments when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a business unit or a group of assets that do not produce a profit within a foreign entity. Under such circumstances, a parent company is required to release any related currency adjustments to earnings. The currency adjustment is released into earnings only if the sale or transfer results in a complete or substantially complete liquidation of the foreign entity in question. The standard update is effective for us for periods beginning with our first interim period in fiscal year 2014. We do not expect that the adoption of this standard will have a material impact on our condensed consolidated financial statements. | |
An accounting standard was issued related to the preparation of financial statements when an entity is ceasing operations and selling assets to settle debts with creditors. Financial statements must be prepared using a liquidation basis of accounting to help users understand how much the organization will have available to distribute to investors after disposing of its assets and settling its obligations. The liquidation basis is used when liquidation is “imminent.” Liquidation is considered imminent when there is only a remote likelihood that the organization will return from liquidation, and one of the following conditions is true (a) a plan for liquidation is approved by the relevant organization officials, and the likelihood that the plan will be blocked by other parties is considered remote or (b) a plan for liquidation is being imposed by other forces. The standard is effective for us beginning with our first interim reporting period in fiscal year 2014. We do not expect that the adoption of the standard will have a material impact on our condensed consolidated financial statements. | |
An accounting standard was issued related to the standardization of the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Under these circumstances, the standard requires that the unrecognized tax benefit, or a portion thereof, be presented in the financial statements as a reduction to a deferred tax asset. However, if the taxpayer is unable to recognize a tax benefit at the reporting date because the carryforward is not available in the same jurisdiction or is insufficient to cover the full tax benefit, the net benefit would, instead, be presented as a liability. This standard is effective for us beginning with our first interim reporting period in fiscal year 2014. We do not expect that the adoption of this standard will have a material impact on our condensed consolidated financial statements. |
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 6 Months Ended | ||||||||||||||
Jun. 28, 2013 | |||||||||||||||
Notes to Financial Statements [Abstract] | ' | ||||||||||||||
EARNINGS PER SHARE | ' | ||||||||||||||
NOTE 3. EARNINGS PER SHARE | |||||||||||||||
In our computation of diluted earnings per share (“EPS”), we exclude the potential shares related to stock options that are issued and unexercised where the exercise price exceeds the average market price of our common stock during the period. We also exclude nonvested time-based and time-and-performance-based restricted stock awards and units that have an anti-dilutive effect on EPS and nonvested time-and-performance-based restricted stock awards and units with performance or performance and market conditions that have not been satisfied at the reporting date. | |||||||||||||||
The following table summarizes the components of weighted-average shares of common stock outstanding for both basic and diluted EPS: | |||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Weighted-average shares of common stock outstanding (1) | 73.8 | 74.2 | 74.1 | 74.1 | |||||||||||
Effect of dilutive stock options, restricted stock awards and units and employee stock purchase plan shares | 0.2 | 0.4 | 0.3 | 0.3 | |||||||||||
Weighted-average shares of common stock outstanding – Diluted | 74 | 74.6 | 74.4 | 74.4 | |||||||||||
Weighted-average shares of common stock outstanding is net of treasury stock. | |||||||||||||||
June 28, | June 29, | ||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||
Anti-dilutive equity awards not included above | 0.6 | 0.7 |
ACCOUNTS_RECEIVABLE_AND_COSTS_
ACCOUNTS RECEIVABLE AND COSTS AND ACCRUED EARNINGS IN EXCESS OF BILLINGS ON CONTRACTS | 6 Months Ended | |||||||||||||
Jun. 28, 2013 | ||||||||||||||
Notes to Financial Statements [Abstract] | ' | |||||||||||||
ACCOUNTS RECEIVABLE AND COSTS AND ACCRUED EARNINGS IN EXCESS OF BILLINGS ON CONTRACTS | ' | |||||||||||||
NOTE 4. ACCOUNTS RECEIVABLE AND COSTS AND ACCRUED EARNINGS IN EXCESS OF BILLINGS ON CONTRACTS | ||||||||||||||
Accounts receivable in the accompanying Condensed Consolidated Balance Sheets are primarily comprised of amounts billed to clients for services already provided, but which have not yet been collected. Occasionally, under the terms of specific contracts, we are permitted to submit invoices in advance of providing our services to our clients and to the extent they have not been collected, these amounts are also included in accounts receivable. | ||||||||||||||
Costs and accrued earnings in excess of billings on contracts (also referred to as “Unbilled Accounts Receivable”) in the accompanying Condensed Consolidated Balance Sheets represent unbilled amounts earned and reimbursable under contracts. These amounts become billable according to the contract terms, which usually consider the passage of time, achievement of milestones or completion of the project. Generally, such unbilled amounts will be billed and collected over the next twelve months. As of June 28, 2013 and December 28, 2012, $376.8 million and $264.9 million, respectively, of Unbilled Accounts Receivable are not expected to become billable within twelve months of the balance sheet date and, as a result, are included as a component of “Other long-term assets.” | ||||||||||||||
Accounts receivable and Unbilled Accounts Receivable include certain amounts recognized related to unapproved change orders (amounts representing the value of proposed contract modifications, but which are unapproved as to both price and scope) and claims (amounts in excess of agreed contract prices that we seek to collect from our clients or others) that have not been collected and, in the case of balances included in accrued earnings in excess of billings on contracts, may not be billable until an agreement, or in the case of claims, a settlement is reached. Generally, these items have not been material and have been resolved in the ordinary course of business. As of June 28, 2013, we had one project with a material Unbilled Accounts Receivable balance relating to an outstanding claim. See Note 15, “Commitments and Contingencies,” for further discussion regarding the Department of Energy (“DOE”) Deactivation, Demolition, and Removal Project. | ||||||||||||||
Our accounts receivable include retentions associated with long-term contracts, which are generally not billable until near or at the completion of the projects or milestones and/or delivery of services. As such, these amounts will generally be billed for contracts with terms in excess of one year from the service date. Our Unbilled Accounts Receivable includes amounts related to milestone payment clauses, which provide for payments to be received beyond a year from the date service occurs. Based on our historical experience, we generally consider the collection risk related to these amounts to be low. When events or conditions indicate that the amounts outstanding may become uncollectible, an allowance is estimated and recorded. As of June 28, 2013 and December 28, 2012, we had financing receivables with contractual terms in excess of one year of $139.9 million and $121.4 million, respectively. | ||||||||||||||
The following table summarizes the components of our accounts receivable and Unbilled Accounts Receivable with the U.S. federal government and with other customers as of June 28, 2013 and December 28, 2012: | ||||||||||||||
June 28, | December 28, | |||||||||||||
(In millions) | 2013 | 2012 | ||||||||||||
Accounts receivable: | ||||||||||||||
U.S. federal government | $ | 388.5 | $ | 376.2 | ||||||||||
Others | 1,080.50 | 1,178.60 | ||||||||||||
Total accounts receivable | $ | 1,469.00 | $ | 1,554.80 | ||||||||||
Unbilled Accounts Receivable: | ||||||||||||||
U.S. federal government | $ | 825.1 | $ | 892.7 | ||||||||||
Others | 882.4 | 756.5 | ||||||||||||
Total | 1,707.50 | 1,649.20 | ||||||||||||
Less: Amounts included in Other long-term assets | -376.8 | -264.9 | ||||||||||||
Unbilled Accounts Receivable | $ | 1,330.70 | $ | 1,384.30 |
INVENTORY
INVENTORY | 6 Months Ended | ||||||||||
Jun. 28, 2013 | |||||||||||
Notes to Financial Statements [Abstract] | ' | ||||||||||
INVENTORY | ' | ||||||||||
NOTE 5. INVENTORY | |||||||||||
The table below presents the components of inventory | |||||||||||
June 28, | December 28, | ||||||||||
(In millions) | 2013 | 2012 | |||||||||
Raw materials | $ | 11.2 | $ | 14.2 | |||||||
Work in progress | 6.3 | 9.8 | |||||||||
Finished goods | 25.6 | 24.9 | |||||||||
Supplies | 12 | 12.6 | |||||||||
Total | $ | 55.1 | $ | 61.5 |
JOINT_VENTURES
JOINT VENTURES | 6 Months Ended | ||||||||||||
Jun. 28, 2013 | |||||||||||||
Notes to Financial Statements [Abstract] | ' | ||||||||||||
JOINT VENTURES | ' | ||||||||||||
NOTE 6. JOINT VENTURES | |||||||||||||
The following are examples of activities currently being performed by our significant consolidated and unconsolidated joint ventures: | |||||||||||||
Engineering, procurement and construction of a concrete dam; | |||||||||||||
Liquid waste management services, including the decontamination of a former nuclear fuel reprocessing facility and nuclear hazardous waste processing; | |||||||||||||
Management of ongoing tank cleanup effort, including retrieving, treating, storing and disposing of nuclear waste that is stored at tank farms; | |||||||||||||
Management, operation and cleanup services, including commercial operations, decontamination, decommissioning, and waste management of a nuclear facility in the United Kingdom (“U.K.”); and | |||||||||||||
Operations, maintenance, asset management and project management services to the Canadian energy sector. | |||||||||||||
In accordance with the current consolidation standard, we analyzed all of our joint ventures and classified them into two groups: | |||||||||||||
Joint ventures that must be consolidated because they are either not variable interest entities (“VIEs”) and we hold the majority voting interest, or because they are VIEs of which we are the primary beneficiary; and | |||||||||||||
Joint ventures that do not need to be consolidated because they are either not VIEs and we do not hold a majority voting interest, or because they are VIEs of which we are not the primary beneficiary. | |||||||||||||
We perform a quarterly review of our joint ventures to determine whether there were any changes in the status of the VIEs or changes to the primary beneficiary designation of each VIE. We determined that no such changes occurred during the six months ended June 28, 2013. | |||||||||||||
In the table below, we have aggregated financial information relating to our VIEs because their nature and risk and reward characteristics are similar. None of our current joint ventures that meets the characteristics of a VIE is individually significant to our consolidated financial statements. | |||||||||||||
Consolidated Joint Ventures | |||||||||||||
The following table presents the total assets and liabilities of our consolidated joint ventures: | |||||||||||||
June 28, | December 28, | ||||||||||||
(In millions) | 2013 | 2012 | |||||||||||
Cash and cash equivalents | $ | 75.1 | $ | 80.1 | |||||||||
Net accounts receivable | 264.6 | 282.2 | |||||||||||
Other current assets | 2.7 | 2.9 | |||||||||||
Noncurrent assets | 119 | 143.3 | |||||||||||
Total assets | $ | 461.4 | $ | 508.5 | |||||||||
Accounts and subcontractors payable | $ | 128.1 | $ | 185 | |||||||||
Billings in excess of costs and accrued earnings on contracts | 12.3 | 8.7 | |||||||||||
Accrued expenses and other | 49 | 40 | |||||||||||
Noncurrent liabilities | 10.1 | 22.7 | |||||||||||
Total liabilities | 199.5 | 256.4 | |||||||||||
Total URS equity | 124 | 110.2 | |||||||||||
Noncontrolling interests | 137.9 | 141.9 | |||||||||||
Total owners’ equity | 261.9 | 252.1 | |||||||||||
Total liabilities and owners’ equity | $ | 461.4 | $ | 508.5 | |||||||||
Total revenues of the consolidated joint ventures were $275.3 million and $642.4 million for the three months ended June 28, 2013 and June 29, 2012, respectively, and $529.4 million and $1.0 billion for the six months ended June 28, 2013 and June 29, 2012, respectively. | |||||||||||||
The assets of our consolidated joint ventures are restricted for use only by the particular joint venture and are not available for our general operations. | |||||||||||||
Unconsolidated Joint Ventures | |||||||||||||
We use the equity method of accounting for our unconsolidated joint ventures. Under the equity method, we recognize our proportionate share of the net earnings of these joint ventures as a single line item under “Equity in income of unconsolidated joint ventures” in our Condensed Consolidated Statements of Operations. | |||||||||||||
The table below presents financial information, derived from the most recent financial statements provided to us, in aggregate, for our unconsolidated joint ventures: | |||||||||||||
Unconsolidated | |||||||||||||
(In millions) | VIEs | ||||||||||||
28-Jun-13 | |||||||||||||
Current assets | $ | 694.5 | |||||||||||
Noncurrent assets | $ | 34 | |||||||||||
Current liabilities | $ | 487.8 | |||||||||||
Noncurrent liabilities | $ | 3.9 | |||||||||||
28-Dec-12 | |||||||||||||
Current assets | $ | 594.1 | |||||||||||
Noncurrent assets | $ | 23.8 | |||||||||||
Current liabilities | $ | 372.5 | |||||||||||
Noncurrent liabilities | $ | 7.8 | |||||||||||
Three months ended June 28, 2013 (1) | |||||||||||||
Revenues | $ | 565.5 | |||||||||||
Cost of revenues | $ | -507 | |||||||||||
Income from continuing operations before tax | $ | 58.5 | |||||||||||
Net income | $ | 53.8 | |||||||||||
Three months ended June 29, 2012 (1) | |||||||||||||
Revenues | $ | 380.9 | |||||||||||
Cost of revenues | $ | -332.1 | |||||||||||
Income from continuing operations before tax | $ | 48.8 | |||||||||||
Net income | $ | 46 | |||||||||||
Six months ended June 28, 2013 (1) | |||||||||||||
Revenues | $ | 1,111.90 | |||||||||||
Cost of revenues | $ | -993.7 | |||||||||||
Income from continuing operations before tax | $ | 118.2 | |||||||||||
Net income | $ | 109.7 | |||||||||||
Six months ended June 29, 2012 (1) | |||||||||||||
Revenues | $ | 744.8 | |||||||||||
Cost of revenues | $ | -632.1 | |||||||||||
Income from continuing operations before tax | $ | 112.7 | |||||||||||
Net income | $ | 104.1 | |||||||||||
Income from unconsolidated U.S. joint ventures is generally not taxable in most tax jurisdictions in the U.S. The tax expenses on our other unconsolidated joint ventures are primarily related to foreign taxes. | |||||||||||||
We received $29.0 million and $27.9 million, respectively, of distributions from unconsolidated joint ventures for the three months ended June 28, 2013 and June 29, 2012 and $52.1 million and $46.5 million, respectively, for the six months ended June 28, 2013 and June 29, 2012. | |||||||||||||
Exposure to Loss | |||||||||||||
In addition to potential losses arising out of the carrying values of the assets and liabilities of our unconsolidated joint ventures, our maximum exposure to loss also includes performance assurances and guarantees we sometimes provide to clients on behalf of joint ventures that we do not directly control. We enter into these guarantees primarily to support the contractual obligations associated with the joint ventures' projects. The potential payment amount of an outstanding performance guarantee is typically the remaining cost of work to be performed by or on behalf of third parties under engineering and construction contracts. | |||||||||||||
However, the majority of the unconsolidated joint ventures in which we participate involve cost-reimbursable, level-of-effort projects that are accounted for as service-type projects, not engineering and construction projects that would follow the percentage-of-completion or completed-contract accounting method. Revenues for service-type contracts are recognized in proportion to the number of service activities performed, in proportion to the direct costs of performing the service activities, or evenly across the period of performance, depending upon the nature of the services provided. The services we provide on these cost-reimbursable contracts are management and operations services for government clients and operations and maintenance services for non-government clients. We believe that, due to the continual changes we experience in client funding and scope definitions, reliable estimates of performance guarantees cannot be calculated because they cannot be reliably predicted. In addition, we participate in joint ventures in which the level of our participation is so minimal that we do not have access to those joint ventures' estimates to complete. The joint ventures where we perform engineering and construction contracts and where we have access to the estimates to complete, which are needed to calculate the performance guarantees, are immaterial. |
PROPERTY_AND_EQUIPMENT
PROPERTY AND EQUIPMENT | 6 Months Ended | ||||||||||
Jun. 28, 2013 | |||||||||||
Notes to Financial Statements [Abstract] | ' | ||||||||||
PROPERTY AND EQUIPMENT | ' | ||||||||||
NOTE 7. PROPERTY AND EQUIPMENT | |||||||||||
Our property and equipment consisted of the following: | |||||||||||
June 28, | December 28, | ||||||||||
(In millions) | 2013 | 2012 | |||||||||
Construction and mining equipment | $ | 250.8 | $ | 266.4 | |||||||
Computer software | 230.6 | 219.5 | |||||||||
Computer hardware | 210.7 | 198.2 | |||||||||
Vehicles and automotive equipment | 170.7 | 172.2 | |||||||||
Leasehold improvements | 141.9 | 130.1 | |||||||||
Land and buildings | 105.9 | 114.1 | |||||||||
Furniture and fixtures | 91.1 | 97.7 | |||||||||
Other equipment | 75.8 | 72.4 | |||||||||
Construction in progress | 13.8 | 15.6 | |||||||||
1,291.30 | 1,286.20 | ||||||||||
Accumulated depreciation and amortization | -644.2 | -598.7 | |||||||||
Property and equipment, net (1) | $ | 647.1 | $ | 687.5 | |||||||
The unamortized computer software costs were $72.7 million and $71.1 million, respectively, as of June 28, 2013 and December 28, 2012. | |||||||||||
ACQUISITION
ACQUISITION | 6 Months Ended | ||||||||||||
Jun. 28, 2013 | |||||||||||||
Notes to Financial Statements [Abstract] | ' | ||||||||||||
ACQUISITION | ' | ||||||||||||
NOTE 8. ACQUISITION | |||||||||||||
Flint Acquisition | |||||||||||||
On May 14, 2012, we acquired the outstanding common shares of Flint for C$25.00 per share in cash, or C$1.24 billion (US$1.24 billion based on the exchange rate on the date of the acquisition) and paid $110.3 million of Flint's debt prior to the closing of the transaction in exchange for a promissory note from Flint. In connection with the acquisition of Flint, we recognized $11.3 million and $16.9 million for the three and six months ended June 29, 2012, respectively, in “Acquisition-related expenses” on our Condensed Consolidated Statements of Operations. | |||||||||||||
Investments in and advances to unconsolidated joint ventures. As a result of the Flint acquisition, we hold a 50% voting and economic interest in a joint venture that provides operations, maintenance, asset management and project management services to the Canadian energy sector. The fair value of our investment in this joint venture at the acquisition date was higher than the underlying equity interest. This difference of $128.5 million includes $38.0 million representing intangible assets, and the remaining amount representing goodwill. The intangible assets are being amortized, as a reduction to earnings against the equity in income of this unconsolidated joint venture, over a period ranging from three to 40 years. For the three months ended June 28, 2013 and June 29, 2012, amortization of these intangible assets was $2.7 million and $1.5 million, respectively. For the six months ended June 28, 2013 and June 29, 2012, amortization of these intangible assets was $5.3 million and $1.5 million, respectively. | |||||||||||||
Pro forma results. The unaudited financial information in the table below summarizes the combined results of the operations of URS Corporation and Flint for the three and six months ended June 29, 2012, on a pro forma basis, as though the companies had been combined as of December 31, 2011. The pro forma financial information includes the accounting effects of the business combination, including adjustments to the amortization of intangible assets, depreciation of property, plant and equipment, interest expense, adjustments to conform to U.S. GAAP, new compensation agreements, and foreign currency gains or losses arising from internal financing arrangements. The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at December 31, 2011 nor should it be taken as indicative of our future consolidated results of operations. | |||||||||||||
We have discovered some errors related to foreign currency translation losses on intercompany loans in the pro forma financial information previously issued for the three and six months ended June 29, 2012. | |||||||||||||
Pro Forma | |||||||||||||
Three Months | Six Months | ||||||||||||
Unaudited | Ended | Ended | |||||||||||
(In millions, except per share data) | 29-Jun-12 | 29-Jun-12 | |||||||||||
Revenues | $ | 2,934.40 | $ | 5,866.20 | |||||||||
Net income (loss) including noncontrolling interests (1) | $ | 84.8 | $ | 191.9 | |||||||||
Net income (loss) attributable to URS (1) | $ | 59.1 | $ | 140.4 | |||||||||
Earnings (loss) per share: | |||||||||||||
Basic EPS (1) | $ | 0.8 | $ | 1.9 | |||||||||
Diluted EPS (1) | $ | 0.79 | $ | 1.89 | |||||||||
Amounts have been revised to correct errors related to foreign currency translation losses on intercompany loans and foreign currency forward contracts in the pro forma financial information previously issued for the three and six months ended June 29, 2012. The revisions increased both net income (loss) including noncontrolling interests and net income (loss) attributable to URS by $16.0 million and $8.8 million for the three- and six-month periods ended June 29, 2012, respectively, increased basic and diluted EPS by $0.22 and $0.21 for the three months ended June 29, 2012, respectively, and increased both basic and diluted EPS by $0.12 for the six-month period ended June 29, 2012. | |||||||||||||
The table below shows the material pre-tax, nonrecurring adjustment in the pro forma financial information for the three and six months ended June 29, 2012: | |||||||||||||
Pro Forma | |||||||||||||
Pre-tax, nonrecurring adjustment (In millions) | Three Months Ended | Six Months Ended | |||||||||||
29-Jun-12 | June 29, 2012 (1) | ||||||||||||
Acquisition-related expenses | $ | 21.1 | $ | 28.4 | |||||||||
Included in the pro forma results for the three and six months ended June 29, 2012 is a nonrecurring adjustment related to URS and Flint acquisition-related expenses. | |||||||||||||
INDEBTEDNESS
INDEBTEDNESS | 6 Months Ended | ||||||||||
Jun. 28, 2013 | |||||||||||
Notes to Financial Statements [Abstract] | ' | ||||||||||
INDEBTEDNESS | ' | ||||||||||
NOTE 9. INDEBTEDNESS | |||||||||||
Indebtedness consisted of the following: | |||||||||||
June 28, | December 28, | ||||||||||
(In millions) | 2013 | 2012 | |||||||||
Term loan, net of debt issuance costs | $ | 651.8 | $ | 666.3 | |||||||
3.85% Senior Notes (net of discount) | 399.6 | 399.5 | |||||||||
5.00% Senior Notes (net of discount) | 599.5 | 599.5 | |||||||||
7.50% Canadian Notes (including premium) | 191.9 | 203.8 | |||||||||
Revolving line of credit | 131.6 | 100.5 | |||||||||
Other indebtedness | 116.3 | 94.7 | |||||||||
Total indebtedness | 2,090.70 | 2,064.30 | |||||||||
Less: | |||||||||||
Current portion of long-term debt | 85.7 | 71.8 | |||||||||
Long-term debt | $ | 2,005.00 | $ | 1,992.50 | |||||||
2011 Credit Facility | |||||||||||
As of June 28, 2013 and December 28, 2012, the outstanding balance of the term loan under our senior credit facility (“2011 Credit Facility”) was $655.0 million and $670.0 million, respectively. As of June 28, 2013 and December 28, 2012, the interest rates applicable to the term loan were 1.70% and 1.71%, respectively. Loans outstanding under our 2011 Credit Facility bear interest, at our option, at the base rate or at LIBOR plus, in each case, an applicable per annum margin. The applicable margin is determined based on the better of our debt ratings or our leverage ratio in accordance with a pricing grid. The interest rate at which we normally borrow is LIBOR plus 150 basis points. | |||||||||||
On May 23, 2013, we amended out 2011 Credit Facility to revise our Eurocurrency rates to include other indices beyond LIBOR. | |||||||||||
We were in compliance with the covenants of our 2011 Credit Facility as of June 28, 2013 | |||||||||||
. | |||||||||||
Revolving line of credit. Our revolving line of credit is used to fund daily operating cash needs and to support our standby letters of credit. In the ordinary course of business, the use of our revolving line of credit is a function of collection and disbursement activities. Our daily cash needs generally follow a predictable pattern that parallels our payroll cycles, which dictate, as necessary, our short-term borrowing requirements. | |||||||||||
As of June 28, 2013 and December 28, 2012, we had an outstanding balance of $131.6 million and $100.5 million on our revolving line of credit, respectively. As of June 28, 2013, we had issued $124.9 million of letters of credit, leaving $743.5 million available under our revolving credit facility. | |||||||||||
Senior Notes and Canadian Notes | |||||||||||
On March 15, 2012, we issued, in a private placement, $400.0 million aggregate principal amount of 3.85% Senior Notes due on April 1, 2017 and $600.0 million aggregate principal amount of 5.00% Senior Notes due on April 1, 2022 (collectively, the “Senior Notes”). As of June 28, 2013, the outstanding balance of the Senior Notes was $999.1 million, net of $0.9 million of discount. | |||||||||||
The Senior Notes are our general unsecured senior obligations and rank equally with our other existing and future unsecured senior indebtedness. The Senior Notes are fully and unconditionally guaranteed (the “Guarantees”) by each of our current and future domestic subsidiaries that are guarantors under our 2011 Credit Facility or that are wholly owned domestic obligors or wholly owned domestic guarantors, individually or collectively, under any future indebtedness of our subsidiaries in excess of $100.0 million (the “Guarantors”). The Guarantees are the Guarantors' unsecured senior obligations and rank equally with the Guarantors' other existing and future unsecured senior indebtedness. See Note 17, “Condensed Consolidating Financial Information.” | |||||||||||
In connection with the sale of the Senior Notes, we entered into a registration rights agreement. On April 17, 2013, we filed with the Securities and Exchange Commission (“SEC”), and subsequently amended, a registration statement, under which we are offering to exchange any privately placed Senior Notes with substantially similar notes, except that the newly exchanged notes will be unrestricted and freely tradable securities. The registration statement has not yet been declared effective by the SEC. Until we complete our exchange offer, we will be required to pay additional interest of 50 basis points to the holders of the Senior Notes. | |||||||||||
On May 14, 2012, we guaranteed Flint's senior notes (the “Canadian Notes”) with an outstanding face value of C$175.0 million (US$175.0 million). As of June 28, 2013, the outstanding balance of the Canadian Notes was $191.9 million, including $24.8 million of premium. | |||||||||||
We were in compliance with the covenants of our Senior Notes and Canadian Notes as of June 28, 2013. | |||||||||||
Other Indebtedness | |||||||||||
Notes payable, five-year loan notes, and foreign credit lines. As of June 28, 2013 and December 28, 2012, we had outstanding amounts of $59.8 million and $35.5 million, respectively, in notes payable, five-year loan notes, and foreign lines of credit. The weighted-average interest rates of these other forms of indebtedness were approximately 3.19% and 4.68% as of June 28, 2013 and December 28, 2012, respectively. Notes payable primarily include notes used to finance the purchase of vehicles, construction equipment, office equipment, computer equipment and furniture. | |||||||||||
As of June 28, 2013 and December 28, 2012, we maintained several credit lines with an aggregate borrowing capacity of $48.9 million and $50.8 million, respectively, and had remaining borrowing capacity of $41.1 and $47.7 million, respectively. | |||||||||||
Capital Leases. As of June 28, 2013 and December 28, 2012, we had obligations under our capital leases of approximately $56.5 million and $59.2 million, respectively, consisting primarily of leases for office equipment, computer equipment, furniture, vehicles and automotive equipment, and construction equipment. | |||||||||||
Foreign Currency Translation Losses Related to Intercompany Loans. We recorded foreign currency translation losses of $3.3 and $5.8 million on intercompany loans for the three and six months ended June 28, 2013. We also recorded foreign currency translation losses of $6.4 million on intercompany loans for both the three and six months ended June 29, 2012. These losses are recorded in “Other income (expenses)” on our Condensed Consolidated Statements of Operations. |
FAIR_VALUES_OF_DEBT_INSTRUMENT
FAIR VALUES OF DEBT INSTRUMENTS AND DERIVATIVE INSTRUMENTS | 6 Months Ended |
Jun. 28, 2013 | |
Notes to Financial Statements [Abstract] | ' |
FAIR VALUES OF DEBT INSTRUMENTS AND DERIVATIVE INSTRUMENTS | ' |
NOTE 10. FAIR VALUE OF DEBT INSTRUMENTS AND DERIVATIVE INSTRUMENTS | |
2011 Credit Facility | |
As of June 28, 2013 and December 28, 2012, the estimated fair market values of the term loan under our 2011 Credit Facility were approximately $652.4 million and $667.3 million, respectively. The carrying values of this term loan on our Condensed Consolidated Balance Sheets as of June 28, 2013 and December 28, 2012 were $655.0 million and $670.0 million, respectively, excluding unamortized debt issuance costs. The fair value of our term loan was derived by taking the mid-point of the trading prices from an observable market input (Level 2) in the secondary loan market and multiplying it by the outstanding balance of our term loan. | |
Senior Notes and Canadian Notes | |
As of both June 28, 2013 and December 28, 2012, the estimated fair market value of the Senior Notes and Canadian Notes was approximately $1.2 billion and the carrying value of these notes on our Condensed Consolidated Balance Sheets was $1.2 billion, excluding unamortized discounts and premiums. The fair value of the Senior Notes and Canadian Notes was derived by taking the mid-point of the trading prices from an observable market input (Level 2) in the secondary loan market and multiplying it by the outstanding balance of the notes. | |
Derivative Instruments | |
We use our derivative instruments as a risk management tool and not for trading or speculative purposes. The fair value of each derivative instrument is based on mark-to-model measurements that are interpolated from observable market data, including spot and forward rates, as of June 28, 2013 and for the duration of each derivative's terms. There were no significant derivative instruments outstanding during the six months ended June 28, 2013. | |
Foreign Currency Exchange Contracts | |
We operate our business globally and our foreign subsidiaries conduct businesses in various foreign currencies. Therefore, we are subject to foreign currency risk. From time to time, we may purchase derivative financial instruments in the form of foreign currency exchange contracts to manage specific foreign currency exposures. | |
In March 2012, we entered into various foreign currency forward contracts with an aggregate notional amount of C$1.25 billion (equivalent to US$1.25 billion) with maturity windows ranging from March 7, 2012 to May 31, 2012. The primary objective of the contracts was to manage our exposure to foreign currency transaction risk related to the funding of our pending acquisition of Flint in Canadian dollars. These contracts settled during the second quarter of 2012. For the three and six months ended June 29, 2012, we recorded net losses of $2.8 million and $0.3 million, respectively, on our foreign currency forward contracts in “Other income (expenses)” on our Condensed Consolidated Statements of Operations. |
BILLINGS_IN_EXCESS_OF_COSTS_AN
BILLINGS IN EXCESS OF COSTS AND ACCRUED EARNINGS ON CONTRACTS | 6 Months Ended | ||||||||||
Jun. 28, 2013 | |||||||||||
Notes to Financial Statements [Abstract] | ' | ||||||||||
BILLINGS IN EXCESS OF COSTS AND ACCRUED EARNINGS ON CONTRACTS | ' | ||||||||||
NOTE 11. BILLINGS IN EXCESS OF COSTS AND ACCRUED EARNINGS ON CONTRACTS | |||||||||||
Billings in excess of costs and accrued earnings on contracts in the accompanying Condensed Consolidated Balance Sheets consist of cash collected from clients and billings to clients on contracts in advance of work performed, advance payments negotiated as a contract condition, estimated losses on uncompleted contracts, normal profit liabilities, project-related legal liabilities, and other project-related reserves. The unearned project-related costs will be earned over the next twelve months or over the duration of the contracts. | |||||||||||
The following table summarizes the components of billings in excess of costs and accrued earnings on contracts: | |||||||||||
June 28, | December 28, | ||||||||||
(In millions) | 2013 | 2012 | |||||||||
Billings in excess of costs and accrued earnings on contracts | $ | 216.1 | $ | 211.7 | |||||||
Project-related legal liabilities and other project-related reserves | 33.3 | 55.2 | |||||||||
Advance payments negotiated as a contract condition | 4.2 | 9.8 | |||||||||
Normal profit liabilities | 1 | 4.8 | |||||||||
Estimated losses on uncompleted contracts | 6 | 7.6 | |||||||||
Total | $ | 260.6 | $ | 289.1 |
EMPLOYEE_RETIREMENT_AND_POSTRE
EMPLOYEE RETIREMENT AND POST-RETIREMENT BENEFIT PLANS | 6 Months Ended | ||||||||||||||||
Jun. 28, 2013 | |||||||||||||||||
Notes to Financial Statements [Abstract] | ' | ||||||||||||||||
EMPLOYEE RETIREMENT AND POST-RETIREMENT BENEFIT PLANS | ' | ||||||||||||||||
NOTE 12. EMPLOYEE RETIREMENT AND POST-RETIREMENT BENEFIT PLANS | |||||||||||||||||
Defined Benefit Plans | |||||||||||||||||
We sponsor a number of pension and unfunded supplemental executive retirement plans. The components of our net periodic pension costs relating to our defined benefit plans for the three months ended June 28, 2013 and June 29, 2012 were as follows: | |||||||||||||||||
Three Months Ended | |||||||||||||||||
Domestic Plans | Foreign Plans | ||||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Service cost | $ | 2.2 | $ | 2 | $ | 0.1 | $ | 0.1 | |||||||||
Interest cost | 4.4 | 4.7 | 5.7 | 5.7 | |||||||||||||
Expected return on plan assets | -4.8 | -4.4 | -6 | -5.6 | |||||||||||||
Amortization of: | |||||||||||||||||
Prior service costs | -0.1 | -0.7 | — | — | |||||||||||||
Net loss | 3.9 | 2.4 | — | — | |||||||||||||
Net periodic pension costs | $ | 5.6 | $ | 4 | $ | -0.2 | $ | 0.2 | |||||||||
Six Months Ended | |||||||||||||||||
Domestic Plans | Foreign Plans | ||||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Service cost | $ | 4.4 | $ | 4 | $ | 0.2 | $ | 0.2 | |||||||||
Interest cost | 8.8 | 9.4 | 11.4 | 11.3 | |||||||||||||
Expected return on plan assets | -9.6 | -8.8 | -12 | -11.1 | |||||||||||||
Amortization of: | |||||||||||||||||
Prior service costs | -0.2 | -1.4 | — | — | |||||||||||||
Net loss | 7.8 | 4.8 | — | — | |||||||||||||
Net periodic pension costs | $ | 11.2 | $ | 8 | $ | -0.4 | $ | 0.4 | |||||||||
During the three and six months ended June 28, 2013, we made cash contributions, including employer-directed benefit payments, of $6.8 million and $13.9 million, respectively, to the domestic and foreign defined benefit plans. We expect to make additional cash contributions, including estimated employer-directed benefit payments, of approximately $16.7 million for the remainder of our 2013 fiscal year. | |||||||||||||||||
Post-retirement Benefit Plans | |||||||||||||||||
We sponsor a number of retiree health and life insurance benefit plans (“post-retirement benefit plans”). The components of our net periodic benefit cost relating to the post-retirement benefit plans for the three and six months ended June 28, 2013 and June 29, 2012 were as follows: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest cost | $ | 0.4 | $ | 0.5 | $ | 0.8 | $ | 1 | |||||||||
Expected return on plan assets | -0.1 | -0.1 | -0.2 | -0.2 | |||||||||||||
Amortization of: | |||||||||||||||||
Net loss | 0.1 | — | 0.2 | — | |||||||||||||
Net periodic benefit costs | $ | 0.4 | $ | 0.4 | $ | 0.8 | $ | 0.8 | |||||||||
During the three and six months ended June 28, 2013, we made cash contributions, including employer-directed benefit payments, of $1.0 million and $1.8 million, respectively, to the domestic and foreign defined benefit plans. We expect to make additional cash contributions, including estimated employer-directed benefit payments, of approximately $1.8 million for the remainder of our 2013 fiscal year. |
STOCKHOLDERS_EQUITY
STOCKHOLDERS' EQUITY | 6 Months Ended | ||||||||||||||||
Jun. 28, 2013 | |||||||||||||||||
Notes to Financial Statements [Abstract] | ' | ||||||||||||||||
STOCKHOLDERS' EQUITY | ' | ||||||||||||||||
NOTE 13. STOCKHOLDERS' EQUITY | |||||||||||||||||
Dividend Program | |||||||||||||||||
Our Board of Directors declared the following dividends: | |||||||||||||||||
Declaration Date | Dividend Per Share | Record Date | Total Maximum Payment | Payment Date | |||||||||||||
(In millions, except per share data) | |||||||||||||||||
24-Feb-12 | $ | 0.2 | 16-Mar-12 | $ | 15.2 | 6-Apr-12 | |||||||||||
4-May-12 | $ | 0.2 | 15-Jun-12 | $ | 15.4 | 6-Jul-12 | |||||||||||
3-Aug-12 | $ | 0.2 | 14-Sep-12 | $ | 15.4 | 5-Oct-12 | |||||||||||
2-Nov-12 | $ | 0.2 | 14-Dec-12 | $ | 15.4 | 4-Jan-13 | |||||||||||
22-Feb-13 | $ | 0.21 | 15-Mar-13 | $ | 16 | 5-Apr-13 | |||||||||||
3-May-13 | $ | 0.21 | 14-Jun-13 | $ | 16 | 5-Jul-13 | |||||||||||
2-Aug-13 | $ | 0.21 | 13-Sep-13 | NA | 4-Oct-13 | ||||||||||||
NA =ot available | |||||||||||||||||
Equity Incentive Plan | |||||||||||||||||
On March 28, 2013, the Board adopted, and on May 23, 2013, the stockholders approved, an amendment and restatement of our 2008 Incentive Plan. Among other provisions, the amendment and restatement increased the aggregate number of shares of common stock authorized for issuance under the plan by 1.5 million shares and the term of the plan was extended until May 23, 2018. As of June 28, 2013, approximately 3.1 million shares had been issued as restricted stock awards and 1.6 million shares were issuable upon the vesting of restricted stock units under our 2008 Incentive Plan. In addition, approximately 1.8 million shares remained reserved for future grants under our 2008 Incentive Plan. | |||||||||||||||||
On March 27, 2013, the Compensation Committee of the Board of Directors approved the adoption of a new long-term incentive program for executive officers and other specified employees. Like the existing program, restricted stock unit awards are both time-based and time-and-performance-based. Under these awards, the performance-based grants will vest at the end of a three-year vesting period based on dual performance criteria: satisfaction of a net income performance condition measured on a cumulative basis over a two-year performance period and a market condition based on meeting or exceeding the total shareholder return of the Russell 3000 Index, measured over a three-year performance period. The grant date fair value was determined using a Monte Carlo simulation model and will be expensed on a straight-line basis over the vesting period. | |||||||||||||||||
Stock Repurchase Program | |||||||||||||||||
The following table summarizes our stock repurchase activities for the three and six months ended June 28, 2013 and June 29, 2012: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
(In millions, except average price paid | June 28, | June 29, | June 28, | June 29, | |||||||||||||
per share) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Common stock repurchase shares | 1 | — | 2 | 1 | |||||||||||||
Average price paid per share | $ | 48.26 | $ | — | $ | 45.55 | $ | 40 | |||||||||
Cost of common stock repurchased | $ | 48.3 | $ | — | $ | 93.3 | $ | 40 | |||||||||
Stock-Based Compensation | |||||||||||||||||
We recognize stock-based compensation expense, net of estimated forfeitures, over the vesting periods in “General and administrative expenses” and “Cost of revenues” in our Condensed Consolidated Statements of Operations. | |||||||||||||||||
The following table presents our stock-based compensation expense related to restricted stock awards and units and our employee stock purchase plan for the three and six months ended June 28, 2013 and June 29, 2012: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Stock-based compensation expense: | |||||||||||||||||
Restricted stock awards and units | $ | 11.5 | $ | 9.8 | $ | 22.4 | $ | 21 | |||||||||
Employee stock purchase plan | 0.2 | 0.1 | 0.3 | 0.3 | |||||||||||||
Stock-based compensation expense | $ | 11.7 | $ | 9.9 | $ | 22.7 | $ | 21.3 | |||||||||
Stock-based compensation expense included in: | |||||||||||||||||
Cost of revenues | $ | 8.6 | $ | 7.7 | 16.9 | 16.2 | |||||||||||
General and administrative expenses | 3.1 | 2.2 | 5.8 | 5.1 | |||||||||||||
Stock-based compensation expense | $ | 11.7 | $ | 9.9 | $ | 22.7 | $ | 21.3 | |||||||||
Declaration Date | Dividend Per Share | Record Date | Total Maximum Payment | Payment Date | |||||||||||||
(In millions, except per share data) | |||||||||||||||||
24-Feb-12 | $ | 0.2 | 16-Mar-12 | $ | 15.2 | 6-Apr-12 | |||||||||||
4-May-12 | $ | 0.2 | 15-Jun-12 | $ | 15.4 | 6-Jul-12 | |||||||||||
3-Aug-12 | $ | 0.2 | 14-Sep-12 | $ | 15.4 | 5-Oct-12 | |||||||||||
2-Nov-12 | $ | 0.2 | 14-Dec-12 | $ | 15.4 | 4-Jan-13 | |||||||||||
22-Feb-13 | $ | 0.21 | 15-Mar-13 | $ | 16 | 5-Apr-13 | |||||||||||
3-May-13 | $ | 0.21 | 14-Jun-13 | $ | 16 | 5-Jul-13 | |||||||||||
2-Aug-13 | $ | 0.21 | 13-Sep-13 | NA | 4-Oct-13 |
SEGMENT_AND_RELATED_INFORMATIO
SEGMENT AND RELATED INFORMATION | 6 Months Ended | |||||||||||||||||||||
Jun. 28, 2013 | ||||||||||||||||||||||
Notes to Financial Statements [Abstract] | ' | |||||||||||||||||||||
SEGMENT AND RELATED INFORMATION | ' | |||||||||||||||||||||
NOTE 14. SEGMENT AND RELATED INFORMATION | ||||||||||||||||||||||
We operate our business through the following four segments: | ||||||||||||||||||||||
Infrastructure & Environment Division provides program management, planning, design, engineering, construction and construction management, operations and maintenance, and decommissioning and closure services to the U.S. federal government, state and local government agencies, and private sector clients in the U.S. and internationally. | ||||||||||||||||||||||
Federal Services Division provides services to various U.S. federal government agencies, primarily the Department of Defense. These services include program management, planning, design and engineering, systems engineering and technical assistance, construction and construction management, operations and maintenance, IT services, and decommissioning and closure. | ||||||||||||||||||||||
Energy & Construction Division provides program management, planning, design, engineering, construction and construction management, operations and maintenance, and decommissioning and closure services to the U.S. federal government, state and local government agencies, and private sector clients in the U.S. and internationally. | ||||||||||||||||||||||
Oil & Gas Division provides oilfield services, including rig transportation and fluid hauling services; oil and gas production services, including mechanical, electrical and instrumentation services; facility and pipeline construction; module fabrication; and maintenance services for the oil and gas industry in the U.S. and Canada. | ||||||||||||||||||||||
These four segments operate under separate management groups and produce discrete financial information. Their operating results also are reviewed separately by management. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies in our Annual Report on Form 10-K/A for the fiscal year ended December 28, 2012. The information disclosed in our condensed consolidated financial statements is based on the four segments that compose our current organizational structure. | ||||||||||||||||||||||
The following table presents summarized financial information for our reportable segments. “Inter-segment, eliminations and other” in the following table includes eliminations of inter-segment sales and investments in subsidiaries. The segment balance sheet information presented below is included for informational purposes only. We do not allocate resources based upon the balance sheet amounts of individual segments. Our long-lived assets consist primarily of property and equipment. | ||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Revenues | ||||||||||||||||||||||
Infrastructure & Environment | $ | 977.5 | $ | 966.3 | $ | 1,910.90 | $ | 1,930.40 | ||||||||||||||
Federal Services | 559.2 | 718.2 | 1,237.40 | 1,435.30 | ||||||||||||||||||
Energy & Construction | 728.5 | 777.9 | 1,393.30 | 1,503.60 | ||||||||||||||||||
Oil & Gas (1) | 555.9 | 277.5 | 1,139.70 | 277.5 | ||||||||||||||||||
Inter-segment, eliminations and other | -29.1 | -49.2 | -86.8 | -94.6 | ||||||||||||||||||
Total revenues | $ | 2,792.00 | $ | 2,690.70 | $ | 5,594.50 | $ | 5,052.20 | ||||||||||||||
Equity in income (loss) of unconsolidated joint ventures | ||||||||||||||||||||||
Infrastructure & Environment | $ | -0.1 | $ | -1 | $ | 1 | $ | -0.1 | ||||||||||||||
Federal Services | 1.9 | 1.7 | 3.3 | 3.3 | ||||||||||||||||||
Energy & Construction | 14.9 | 15.7 | 36.6 | 41.9 | ||||||||||||||||||
Oil & Gas (1) | 1.2 | 0.6 | 1.1 | 0.6 | ||||||||||||||||||
Total equity in income of unconsolidated joint ventures | $ | 17.9 | $ | 17 | $ | 42 | $ | 45.7 | ||||||||||||||
URS operating income (loss) (2) | ||||||||||||||||||||||
Infrastructure & Environment | $ | 61.4 | $ | 62.1 | $ | 102.1 | $ | 107.6 | ||||||||||||||
Federal Services | 68.6 | 59.8 | 167.8 | 152.7 | ||||||||||||||||||
Energy & Construction | 22 | 29.6 | 34.3 | 52.4 | ||||||||||||||||||
Oil & Gas (1) | 1.9 | 3.2 | 10.1 | 3.2 | ||||||||||||||||||
Corporate (3) | -22.9 | -30.7 | -45.6 | -56.3 | ||||||||||||||||||
Total URS operating income (loss) | $ | 131 | $ | 124 | $ | 268.7 | $ | 259.6 | ||||||||||||||
Operating income (loss) | ||||||||||||||||||||||
Infrastructure & Environment | $ | 61.5 | $ | 62.6 | $ | 102.7 | $ | 108.6 | ||||||||||||||
Federal Services | 68.6 | 59.8 | 167.8 | 152.7 | ||||||||||||||||||
Energy & Construction | 36.6 | 54.8 | 63.7 | 102.9 | ||||||||||||||||||
Oil & Gas (1) | 1.6 | 3 | 9.4 | 3 | ||||||||||||||||||
Corporate (3) | -22.9 | -30.7 | -45.6 | -56.3 | ||||||||||||||||||
Total operating income (loss) | $ | 145.4 | $ | 149.5 | $ | 298 | $ | 310.9 | ||||||||||||||
Depreciation and amortization | ||||||||||||||||||||||
Infrastructure & Environment | $ | 12.4 | $ | 14.3 | $ | 24.9 | $ | 28.7 | ||||||||||||||
Federal Services | 8.8 | 9.1 | 18.1 | 18.7 | ||||||||||||||||||
Energy & Construction | 11.3 | 12.1 | 23.3 | 23.8 | ||||||||||||||||||
Oil & Gas (1) | 31.5 | 18.7 | 63.1 | 18.7 | ||||||||||||||||||
Corporate | 2.1 | 1.6 | 4.2 | 3.1 | ||||||||||||||||||
Total depreciation and amortization | $ | 66.1 | $ | 55.8 | $ | 133.6 | $ | 93 | ||||||||||||||
The operating results of Flint have been included in our consolidated results since the acquisition on May 14, 2012. | ||||||||||||||||||||||
We are providing information regarding URS operating income (loss) by segment because management uses this information to assess performance and make decisions about resource allocation. URS operating income is defined as segment operating income after reductions for pre-tax noncontrolling interests. | ||||||||||||||||||||||
Corporate includes expenses related to corporate functions and acquisition-related expenses. | ||||||||||||||||||||||
Reconciliations of URS operating income (loss) by segment to segment operating income (loss) for the three and six months ended June 28, 2013 and June 29, 2012 are as follows: | ||||||||||||||||||||||
Three Months Ended June 28, 2013 | ||||||||||||||||||||||
Infrastructure | Energy | Oil | ||||||||||||||||||||
& | Federal | & | & | |||||||||||||||||||
(In millions) | Environment | Services | Construction | Gas | Corporate | Consolidated | ||||||||||||||||
URS operating income (loss) | $ | 61.4 | $ | 68.6 | $ | 22 | $ | 1.9 | $ | -22.9 | $ | 131 | ||||||||||
Noncontrolling interests | 0.1 | — | 14.6 | -0.3 | — | 14.4 | ||||||||||||||||
Operating income (loss) | $ | 61.5 | $ | 68.6 | $ | 36.6 | $ | 1.6 | $ | -22.9 | $ | 145.4 | ||||||||||
Three Months Ended June 29, 2012 | ||||||||||||||||||||||
Infrastructure | Energy | Oil | ||||||||||||||||||||
& | Federal | & | & | |||||||||||||||||||
(In millions) | Environment | Services | Construction | Gas | Corporate | Consolidated | ||||||||||||||||
URS operating income (loss) | $ | 62.1 | $ | 59.8 | $ | 29.6 | $ | 3.2 | $ | -30.7 | $ | 124 | ||||||||||
Noncontrolling interests | 0.5 | — | 25.2 | -0.2 | — | 25.5 | ||||||||||||||||
Operating income (loss) | $ | 62.6 | $ | 59.8 | $ | 54.8 | $ | 3 | $ | -30.7 | $ | 149.5 | ||||||||||
Six Months Ended June 28, 2013 | ||||||||||||||||||||||
Infrastructure | Energy | Oil | ||||||||||||||||||||
& | Federal | & | & | |||||||||||||||||||
(In millions) | Environment | Services | Construction | Gas | Corporate | Consolidated | ||||||||||||||||
URS operating income (loss) | $ | 102.1 | $ | 167.8 | $ | 34.3 | $ | 10.1 | $ | -45.6 | $ | 268.7 | ||||||||||
Noncontrolling interests | 0.6 | — | 29.4 | -0.7 | — | 29.3 | ||||||||||||||||
Operating income (loss) | $ | 102.7 | $ | 167.8 | $ | 63.7 | $ | 9.4 | $ | -45.6 | $ | 298 | ||||||||||
Six Months Ended June 29, 2012 | ||||||||||||||||||||||
Infrastructure | Energy | Oil | ||||||||||||||||||||
& | Federal | & | & | |||||||||||||||||||
(In millions) | Environment | Services | Construction | Gas | Corporate | Consolidated | ||||||||||||||||
URS operating income (loss) | $ | 107.6 | $ | 152.7 | $ | 52.4 | $ | 3.2 | $ | -56.3 | $ | 259.6 | ||||||||||
Noncontrolling interests | 1 | — | 50.5 | -0.2 | — | 51.3 | ||||||||||||||||
Operating income (loss) | $ | 108.6 | $ | 152.7 | $ | 102.9 | $ | 3 | $ | -56.3 | $ | 310.9 | ||||||||||
Total investments in and advances to unconsolidated joint ventures and property and equipment, net of accumulated depreciation, are as follows: | ||||||||||||||||||||||
June 28, | December 28, | |||||||||||||||||||||
(In millions) | 2013 | 2012 | ||||||||||||||||||||
Infrastructure & Environment | $ | 9.3 | $ | 8.1 | ||||||||||||||||||
Federal Services | 5.1 | 5.7 | ||||||||||||||||||||
Energy & Construction | 112.1 | 124.5 | ||||||||||||||||||||
Oil & Gas | 129.7 | 140 | ||||||||||||||||||||
Total investments in and advances to unconsolidated joint ventures | $ | 256.2 | $ | 278.3 | ||||||||||||||||||
Infrastructure & Environment | $ | 137.5 | $ | 141 | ||||||||||||||||||
Federal Services | 40.8 | 36.6 | ||||||||||||||||||||
Energy & Construction | 58.1 | 60.1 | ||||||||||||||||||||
Oil & Gas | 381.4 | 422.9 | ||||||||||||||||||||
Corporate | 29.3 | 26.9 | ||||||||||||||||||||
Total property and equipment, net of accumulated depreciation | $ | 647.1 | $ | 687.5 | ||||||||||||||||||
Total assets by segment are as follows: | ||||||||||||||||||||||
As Restated | ||||||||||||||||||||||
June 28, | December 28, | |||||||||||||||||||||
(In millions) | 2013 | 2012 | ||||||||||||||||||||
Infrastructure & Environment | $ | 2,175.50 | $ | 2,267.60 | ||||||||||||||||||
Federal Services | 1,559.10 | 1,642.80 | ||||||||||||||||||||
Energy & Construction | 3,208.90 | 3,253.90 | ||||||||||||||||||||
Oil & Gas | 1,823.90 | 1,904.40 | ||||||||||||||||||||
Corporate | 210.1 | 192.3 | ||||||||||||||||||||
Total assets | $ | 8,977.50 | $ | 9,261.00 | ||||||||||||||||||
Interim Goodwill Review | ||||||||||||||||||||||
Due to the incorrect application of the requirements of the applicable goodwill accounting guidance during our annual and interim goodwill impairment analysis, we have revised our impairment analysis for the quarterly period ended March 29, 2013. | ||||||||||||||||||||||
We perform our annual goodwill impairment review as of the end of the first month following our September reporting period and also perform interim impairment reviews when triggering events occur. During the first quarter of 2013, a government sequestration order was signed canceling budgetary resources across the federal government for fiscal year 2013. The budget cuts spread across many key government programs and agencies, several of which were related to markets we serve. This event prompted us to perform an interim goodwill impairment test as of March 29, 2013. Management determined that three of our seven reporting units could potentially be impacted by the federal sequester. We performed an analysis to determine whether the fair value of each reporting unit was less than its carrying amount. Analytical procedures were also performed to include an analysis of the impact on stock market prices of URS and comparable companies, review of stock analyst reports, and management guidance and commentary from comparable companies. Based on the revised analysis, it was determined that there was no impairment due to the sequestration event. During the second quarter of 2013, no events or changes in circumstances occurred that prompted us to perform any additional interim goodwill impairment tests. | ||||||||||||||||||||||
Major Customers and Other | ||||||||||||||||||||||
Our largest clients are from our federal market sector. Within this sector, we have multiple contracts with our two major customers: the U.S. Army and the DOE. For the purpose of analyzing revenues from major customers, we do not consider the combination of all federal departments and agencies as one customer. The different federal agencies manage separate budgets. As such, reductions in spending by one federal agency do not affect the revenues we could earn from another federal agency. In addition, the procurement processes for federal agencies are not centralized, and procurement decisions are made separately by each federal agency. The loss of the federal government, the U.S. Army, or DOE as clients would have a material adverse effect on our business; however, we are not dependent on any single contract on an ongoing basis. We believe that the loss of any single contract would not have a material adverse effect on our business. | ||||||||||||||||||||||
Our revenues from the U.S. Army and DOE by division for the three and six months ended June 28, 2013 and June 29, 2012 are presented below: | ||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||||||||
(In millions, except percentages) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
The U.S. Army (1) | ||||||||||||||||||||||
Infrastructure & Environment | $ | 31.6 | $ | 43.6 | $ | 64.6 | $ | 87.4 | ||||||||||||||
Federal Services | 253.8 | 374.4 | 642.2 | 747.5 | ||||||||||||||||||
Energy & Construction | 28.4 | 25.6 | 53.2 | 50.5 | ||||||||||||||||||
Total U.S. Army | $ | 313.8 | $ | 443.6 | $ | 760 | $ | 885.4 | ||||||||||||||
Revenues from the U.S. Army as a percentage of our consolidated revenues | 11% | 16% | 14% | 18% | ||||||||||||||||||
DOE | ||||||||||||||||||||||
Infrastructure & Environment | $ | 1 | $ | 2.3 | $ | 2.1 | $ | 3.4 | ||||||||||||||
Federal Services | 6.5 | 7.2 | 10.4 | 13.1 | ||||||||||||||||||
Energy & Construction | 205.2 | 240.2 | 412 | 493.2 | ||||||||||||||||||
Total DOE | $ | 212.7 | $ | 249.7 | $ | 424.5 | $ | 509.7 | ||||||||||||||
Revenues from DOE as a percentage of our consolidated revenues | 8% | 9% | 8% | 10% | ||||||||||||||||||
Revenues from the federal market sector as a percentage of our consolidated revenues | 34% | 43% | 36% | 46% | ||||||||||||||||||
The U.S. Army includes U.S. Army Corps of Engineers. | ||||||||||||||||||||||
Interim Goodwill Review | ||||||||||||||||||||||
Due to the incorrect application of the requirements of the applicable goodwill accounting guidance during our annual and interim goodwill impairment analysis, we have revised our impairment analysis for the quarterly period ended March 29, 2013. | ||||||||||||||||||||||
We perform our annual goodwill impairment review as of the end of the first month following our September reporting period and also perform interim impairment reviews when triggering events occur. During the first quarter of 2013, a government sequestration order was signed canceling budgetary resources across the federal government for fiscal year 2013. The budget cuts spread across many key government programs and agencies, several of which were related to markets we serve. This event prompted us to perform an interim goodwill impairment test as of March 29, 2013. Management determined that three of our seven reporting units could potentially be impacted by the federal sequester. We performed an analysis to determine whether the fair value of each reporting unit was less than its carrying amount. Analytical procedures were also performed to include an analysis of the impact on stock market prices of URS and comparable companies, review of stock analyst reports, and management guidance and commentary from comparable companies. Based on the revised analysis, it was determined that there was no impairment due to the sequestration event. During the second quarter of 2013, no events or changes in circumstances occurred that prompted us to perform any additional interim goodwill impairment tests. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Jun. 28, 2013 | |
Notes to Financial Statements [Abstract] | ' |
COMMITMENTS AND CONTINGENCIES | ' |
NOTE 15. COMMITMENTS AND CONTINGENCIES | |
In the ordinary course of business, we and our affiliates are subject to various contractual disputes, governmental audits and investigations, and legal proceedings alleging, among other things, contractual, tortious or statutory breaches. The final outcomes of these various matters cannot be predicted or estimated with certainty. We are including information regarding the following matters: | |
USAID Egyptian Projects: In March 2003, Washington Group International, Inc., a Delaware company, (“WGI Delaware”), our wholly owned subsidiary, was notified by the Department of Justice that the federal government was considering civil litigation against WGI Delaware for potential violations of the U.S. Agency for International Development (“USAID”) source, origin, and nationality regulations in connection with five of WGI Delaware's USAID-financed host-country projects located in Egypt beginning in the early 1990s. In November 2004, the federal government filed an action in the United States District Court for the District of Idaho against WGI Delaware, Contrack International, Inc., and MISR Sons Development S.A.E., an Egyptian construction company, asserting violations under the Federal False Claims Act, the Federal Foreign Assistance Act of 1961, as well as common law theories of payment by mistake and unjust enrichment. The federal government seeks damages and civil penalties for violations of the statutes as well as a refund of the approximately $373.0 million paid to WGI Delaware under the specified contracts. WGI Delaware has denied any liability in the action and contests the federal government's damage allegations and its entitlement to recovery. All USAID projects under the contracts have been completed and are fully operational. | |
In March 2005, WGI Delaware filed a motion in Idaho District Court to dismiss the federal government's claims or to stay the Idaho action and also a motion in Bankruptcy Court in Nevada to dismiss the government's claims for failure to give appropriate notice or otherwise preserve its claims. In August 2005, the Bankruptcy Court ruled that all federal government claims were barred. The federal government appealed the Bankruptcy Court's order to the United States District Court for the District of Nevada. In March 2006, the Idaho District Court stayed that action during the pendency of the federal government's appeal of the Bankruptcy Court's ruling. In December 2006, the Nevada District Court reversed the Bankruptcy Court's order and remanded the matter back to the Bankruptcy Court for further proceedings. WGI Delaware renewed its motion in Bankruptcy Court, and in November 2008, the Bankruptcy Court ruled that the federal government's common law claims of unjust enrichment and payment by mistake are barred, and could no longer be pursued. On April 24, 2012, the Bankruptcy Court ruled that the bulk of the federal government's claims under the False Claims and the Federal Foreign Assistance Acts are not barred. On November 7, 2012, WGI Delaware appealed the Bankruptcy Court's decision to the Ninth Circuit Bankruptcy Appellate Panel and oral arguments were presented to the Appellate Panel on July 19, 2013. On August 2, 2013, the Appellate Panel affirmed the Bankruptcy Court's decision. | |
WGI Delaware intends to continue to defend this matter vigorously; however, WGI Delaware cannot provide assurance that it will be successful in these efforts. The potential range of loss and the resolution of these matters cannot be determined at this time primarily due to the very limited factual record that exists in light of our limited ability to evaluate discovery that has been conducted so far at this early stage of the Idaho litigation; the fact that the matter involves unique and complex bankruptcy, international, and federal regulatory legal issues; the uncertainty concerning legal theories and their potential resolution by the courts; and the duration of this matter, as well as a number of additional factors. | |
New Orleans Levee Failure Class Action Litigation: From July 1999 through May 2005, Washington Group International, Inc., an Ohio company (“WGI Ohio”), a wholly owned subsidiary acquired by us on November 15, 2007, performed demolition, site preparation, and environmental remediation services for the U.S. Army Corps of Engineers on the east bank of the Inner Harbor Navigation Canal (the “Industrial Canal”) in New Orleans, Louisiana. On August 29, 2005, Hurricane Katrina devastated New Orleans. The storm surge created by the hurricane overtopped the Industrial Canal levee and floodwall, flooding the Lower Ninth Ward and other parts of the city. Fifty-nine personal injury and property damage class action lawsuits were filed in Louisiana State and federal court against several defendants, including WGI Ohio, seeking $200.0 billion in damages plus attorneys' fees and costs. Plaintiffs are residents and property owners who claim to have incurred damages from the breach and failure of the hurricane protection levees and floodwalls in the wake of Hurricane Katrina. | |
All 59 lawsuits were pleaded as class actions but none have yet been certified as class actions. Along with WGI Ohio, the U.S. Army Corps of Engineers, the Board for the Orleans Levee District, and its insurer, St. Paul Fire and Marine Insurance Company were also named as defendants. At this time WGI Ohio and the Army Corps of Engineers are the remaining defendants. These 59 lawsuits, along with other hurricane-related cases not involving WGI Ohio, were consolidated in the United States District Court for the Eastern District of Louisiana (“District Court”). | |
Plaintiffs allege that defendants were negligent in their design, construction and/or maintenance of the New Orleans levees. Specifically, as to WGI Ohio, plaintiffs allege that work WGI Ohio performed adjacent to the Industrial Canal damaged the levee and floodwall, causing or contributing to breaches and flooding. WGI Ohio did not design, construct, repair or maintain any of the levees or the floodwalls that failed during or after Hurricane Katrina. Rather, WGI Ohio performed work adjacent to the Industrial Canal as a contractor for the federal government. | |
WGI Ohio filed a motion for summary judgment, seeking dismissal on grounds that government contractors are immune from liability. On December 15, 2008, the District Court granted WGI Ohio's motion for summary judgment, but several plaintiffs appealed that decision to the United States Fifth Circuit Court of Appeals on April 27, 2009. On September 14, 2010, the Court of Appeals reversed the District Court's summary judgment decision and WGI Ohio's dismissal, and remanded the case back to the District Court for further litigation. On August 1, 2011, the District Court decided that the government contractor immunity defense would not be available to WGI Ohio at trial, but would be an issue for appeal. Five of the cases were tried in District Court from September 12, 2012 through October 3, 2012. On April 12, 2013, the District Court ruled in favor of WGI Ohio and the Army Corps of Engineers, finding that the five plaintiffs failed to prove that WGI Ohio's or the Army Corps of Engineers' actions caused the failure of the Industrial Canal floodwall during Hurricane Katrina. On July 1, 2013, WGI Ohio filed a motion for summary judgment in District Court to dismiss all other related cases as a result of the District Court's April 2013 decision. | |
WGI Ohio intends to continue to defend these matters vigorously; however, WGI Ohio cannot provide assurance that it will be successful in these efforts. The potential range of loss and the resolution of these matters cannot be determined at this time primarily due to the likelihood of an appeal, the unknown number of individual plaintiffs who are actually asserting claims against WGI Ohio; the uncertainty regarding the nature and amount of each individual plaintiff's damage claims; uncertainty concerning legal theories and factual bases that plaintiffs may present and their resolution by courts or regulators; and uncertainty about the plaintiffs' claims, if any, that might survive certain key motions of our affiliate, as well as a number of additional factors. | |
DOE Deactivation, Demolition, and Removal Project: WGI Ohio executed a cost-reimbursable task order with the DOE in 2007 to provide deactivation, demolition and removal services at a New York State project site that, during 2010, experienced contamination and performance issues. In February 2011, WGI Ohio and the DOE executed a Task Order Modification that changed some cost-reimbursable contract provisions to at-risk. The Task Order Modification, including subsequent amendments, requires the DOE to pay all project costs up to $105.9 million, requires WGI Ohio and the DOE to equally share in all project costs incurred from $105.9 million to $145.9 million, and requires WGI Ohio to pay all project costs exceeding $145.9 million. In addition, in September 2011, WGI Ohio voluntarily paid a civil penalty related to the contamination incident. | |
Through June 28, 2013, WGI Ohio has incurred total project costs of $244.4 million and has recorded cumulative project losses of $16.3 million. Due to unanticipated requirements and permitting delays by federal and state agencies, as well as delays and related ground stabilization activities caused by Hurricane Irene, WGI Ohio has been required to perform work outside the scope of the Task Order Modification. Based on changes and delays to date, requests for equitable adjustment (“REA”) amounting to $47.1 million and proposals related to the hurricane-caused impacts and other directed changes in the amount of $117.5 million have been submitted to the DOE for approval. WGI Ohio also expects to submit additional REAs of at least $17.0 million to the DOE. Through June 28, 2013, the DOE authorized an additional $31.2 million of funding primarily related to the hurricane-caused impacts. During 2013, WGI Ohio has submitted several certified claims against the DOE pursuant to the Contracts Disputes Acts seeking recovery of $112.5 million of the above unfunded REA and proposal costs incurred through April 2013 and $5.0 million of fee on the expanded work scope. The final project completion costs are not currently estimable due to continuing delays in permitting, other delays, and approval of a final project plan. WGI Ohio can provide no certainty that it will recover the $112.5 million in submitted DOE claims for costs incurred through April 2013 related to REAs, hurricane-caused work or other directed changes, as well as any other project costs after April 2013 that WGI Ohio is obligated to incur to finalize and complete this project, any of which could negatively impact URS' future results of operations. | |
Bolivian Mine Services Agreement: In 2009, a mine service agreement performed by our wholly owned subsidiary, Washington Group Bolivia, was unilaterally terminated for convenience by the mine owner. The mine owner disputed the fair market value of mining equipment it was required to repurchase under the terms of the mine services agreement. Subsequently, on November 16, 2010, Washington Group Bolivia received a formal claim asserting breaches of contractual obligations and warranties, including the failure to adhere to the requisite professional standard of care while performing the mine services agreement. On June 17, 2011, Washington Group Bolivia received a formal demand for arbitration pursuant to the Rules of Arbitration of the International Chamber of Commerce asserting claims up to $52.6 million. Washington Group Bolivia brought a $50 million counterclaim on August 3, 2012 against the mine owner asserting claims of wrongful termination and lost productivity. Arbitration on the mine owner's claims and Washington Group Bolivia's counterclaims commenced before the International Chamber of Commerce and concluded in December 2012. In the course of the arbitration proceedings, the mine owner has reduced its claims to approximately $32.2 million, while Washington Group Bolivia has refined its counterclaim amount to not more than $62.9 million. | |
Washington Group Bolivia intends to continue to defend this matter vigorously; however, we cannot provide assurance that it will be successful in these efforts. While Washington Group Bolivia believes that the mine owner's claims are largely without merit, the potential range of loss and the resolution of these matters cannot be determined at this time due to a number of factors, including the uncertainty of how the arbitration tribunal will apply the multiple legal theories and factual bases for the parties' respective claims and defenses and the added complexity that comes from the fact that the parties, project location and applicable law span multiple countries and jurisdictions. | |
Canadian Pipeline Contract: In January 2010, a pipeline owner filed an action in the Court of Queen's Bench of Alberta, Canada against Flint, a company we acquired in May 2012, as well as against a number of other defendants, alleging that the defendants negligently provided pipe coating and insulation system services, engineering, design services, construction services, and other work, causing damage to and abandonment of the line. The pipeline owner alleges it has suffered approximately C$85.0 million in damages in connection with the abandonment and replacement of the pipeline. Flint was the construction contractor on the pipeline project. Other defendants were responsible for engineering and design-services and for specifying and providing the actual pipe, insulation and coating materials used in the line. In January 2011, the pipeline owner served a Statement of Claim on Flint and, in September 2011, Flint filed a Statement of Defense denying that the damages to the coating system of the pipeline were caused by any negligence or breach of contract of Flint. Flint believes the damages were caused or contributed to by the negligence of one or more of the co-defendants and/or by the negligent operation of the pipeline owner. | |
Flint intends to continue to defend this matter vigorously; however, it cannot provide assurance that it will be successful, in whole or in part, in these efforts. The potential range of loss and the resolution of this matter cannot be determined at this time primarily due to the early stage of the discovery; the substantial uncertainty regarding the actual cause of the damage to or loss of the line; the nature and amount of each individual damage claim against the various defendants; and the uncertainty concerning legal theories and factual bases that the customer may present against all or some of the defendants. | |
U.K. Joint Venture: On April 12, 2010, one of our U.K. joint ventures sent several bags of low level non-exempt radioactive waste to a waste disposal facility that was not licensed to handle such waste. On November 15, 2012, the U.K. Environment Agency and the U.K. Department for Transport initiated environmental regulatory proceedings against our U.K. joint venture in the Workington Magistrates' Court under the U.K. Environmental Permitting Regulations 2010, the Radioactive Substances Act 1993, the Carriage of Dangerous Goods and the use of Transportable Pressure Equipment Regulations 2009. On February 7, 2013, our U.K. joint venture entered a plea of guilty before the Magistrates' Court and the matter was referred to the Carlisle Crown Court (the “Crown Court”) for sentencing. On June 14, 2013, the Crown Court issued a fine equivalent to approximately $1.2 million. On July 9, 2013, our U.K. joint venture appealed the Crown Court's decision to the Court of Appeal Criminal Division. | |
The resolution of outstanding claims and legal proceedings is subject to inherent uncertainty, and it is reasonably possible that any resolution of these claims and legal proceedings could have a material adverse effect on us; however, an estimate of the reasonably possible losses cannot be determined at this time. | |
Insurance | |
Generally, our insurance program covers workers' compensation and employer's liability, general liability, automobile liability, professional errors and omissions liability, property, marine property and liability, and contractor's pollution liability (in addition to other policies for specific projects). Our insurance program includes deductibles or self-insured retentions for each covered claim. In addition, our insurance policies contain exclusions and sublimits that insurance providers may use to deny or restrict coverage. Excess liability, contractor's pollution liability, and professional liability insurance policies provide for coverages on a “claims-made” basis, covering only claims actually made and reported during the policy period currently in effect. Thus, if we do not continue to maintain these policies, we will have no coverage for claims made after the termination date even for claims based on events that occurred during the term of coverage. While we intend to maintain these policies, we may be unable to maintain existing coverage levels. | |
Guarantee Obligations and Commitments | |
As of June 28, 2013, we had the following guarantee obligations and commitments: | |
We have agreed to indemnify one of our joint venture partners up to $25.0 million for any potential losses, damages, and liabilities associated with lawsuits in relation to general and administrative services we provide to the joint venture. | |
As of June 28, 2013, we had $33.7 million in bank guarantees outstanding under foreign credit facilities and other banking arrangements. | |
We also maintain a variety of commercial commitments that are generally made to support provisions of our contracts. In addition, in the ordinary course of business, we provide letters of credit to clients and others against advance payments and to support other business arrangements. We are required to reimburse the issuers of letters of credit for any payments they make under the letters of credit. | |
In the ordinary course of business, we may provide performance assurances and guarantees related to our services. For example, these guarantees may include surety bonds, arrangements among our client, a surety, and us to ensure we perform our contractual obligations pursuant to our client agreement. If our services under a guaranteed project are later determined to have resulted in a material defect or other material deficiency, then we may be responsible for monetary damages or other legal remedies. When sufficient information about claims on guaranteed projects is available and monetary damages or other costs or losses are determined to be probable, we recognize such guarantee losses. |
RECLASSIFICATIONS_OUT_OF_ACCUM
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 6 Months Ended | ||||||||||||||||
Jun. 28, 2013 | |||||||||||||||||
Notes to Financial Statements [Abstract] | ' | ||||||||||||||||
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ' | ||||||||||||||||
NOTE 16. RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||
The accumulated balances and reporting period activities for the three and six months ended June 28, 2013 and June 29, 2012 related to reclassifications out of accumulated other comprehensive income (loss) are summarized as follows: | |||||||||||||||||
(In millions) | Pension and Post-retirement Related Adjustments | Foreign Currency Translation Adjustments | Loss on Derivative Instruments | Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Balances at March 30, 2012 | $ | -107.7 | $ | 19.1 | $ | -0.7 | $ | -89.3 | |||||||||
Other comprehensive income before reclassification | — | -34 | — | -34 | |||||||||||||
Amounts reclassified from accumulated other comprehensive income: | |||||||||||||||||
Prior service costs, net of tax (1) | -0.4 | — | — | -0.4 | |||||||||||||
Actuarial (gains) losses, net of tax (1) | 1.4 | — | — | 1.4 | |||||||||||||
Translation adjustment realized upon liquidation of foreign subsidiaries, net of tax (2) | — | 0.3 | — | 0.3 | |||||||||||||
Net current-period other comprehensive income | 1 | -33.7 | — | -32.7 | |||||||||||||
Balances at June 29, 2012 | $ | -106.7 | $ | -14.6 | $ | -0.7 | $ | -122 | |||||||||
(In millions) | Pension and Post-retirement Related Adjustments | Foreign Currency Translation Adjustments | Loss on Derivative Instruments | Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Balances at March 29, 2013 | $ | -131.5 | $ | -13.5 | $ | -0.6 | $ | -145.6 | |||||||||
Other comprehensive income before reclassification | -0.2 | -38.9 | — | -39.1 | |||||||||||||
Amounts reclassified from accumulated other comprehensive income: | |||||||||||||||||
Actuarial (gains) losses, net of tax (1) | 2.4 | — | — | 2.4 | |||||||||||||
Translation adjustment realized upon liquidation of foreign subsidiaries, net of tax (2) | — | -0.3 | — | -0.3 | |||||||||||||
Net current-period other comprehensive income | 2.2 | -39.2 | — | -37 | |||||||||||||
Balances at June 28, 2013 | $ | -129.3 | $ | -52.7 | $ | -0.6 | $ | -182.6 | |||||||||
(In millions) | Pension and Post-retirement Related Adjustments | Foreign Currency Translation Adjustments | Loss on Derivative Instruments | Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Balances at December 30, 2011 | $ | -108.8 | $ | -2 | $ | — | $ | -110.8 | |||||||||
Other comprehensive income before reclassification | 0.1 | -12.9 | -0.7 | -13.5 | |||||||||||||
Amounts reclassified from accumulated other comprehensive income: | |||||||||||||||||
Prior service costs, net of tax (1) | -0.8 | — | — | -0.8 | |||||||||||||
Actuarial (gains) losses, net of tax (1) | 2.8 | — | — | 2.8 | |||||||||||||
Translation adjustment realized upon liquidation of foreign subsidiaries, net of tax (2) | — | 0.3 | — | 0.3 | |||||||||||||
Net current-period other comprehensive income | 2.1 | -12.6 | -0.7 | -11.2 | |||||||||||||
Balances at June 29, 2012 | $ | -106.7 | $ | -14.6 | $ | -0.7 | $ | -122 | |||||||||
(In millions) | Pension and Post-retirement Related Adjustments | Foreign Currency Translation Adjustments | Loss on Derivative Instruments | Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Balances at December 28, 2012 | $ | -135.4 | $ | 22.8 | $ | -0.6 | $ | -113.2 | |||||||||
Other comprehensive income before reclassification | 1.4 | -75 | — | -73.6 | |||||||||||||
Amounts reclassified from accumulated other comprehensive income: | |||||||||||||||||
Prior service costs, net of tax (1) | -0.1 | — | — | -0.1 | |||||||||||||
Actuarial (gains) losses, net of tax (1) | 4.8 | — | — | 4.8 | |||||||||||||
Translation adjustment realized upon liquidation of foreign subsidiaries, net of tax (2) | — | -0.5 | — | -0.5 | |||||||||||||
Net current-period other comprehensive income | 6.1 | -75.5 | — | -69.4 | |||||||||||||
Balances at June 28, 2013 | $ | -129.3 | $ | -52.7 | $ | -0.6 | $ | -182.6 | |||||||||
These accumulated other comprehensive income components are included in the computation of net periodic pension costs, which were recorded in “Cost of revenues” and “General and administrative expenses” in our Condensed Consolidated Statements of Operations. See Note 12, “Employee Retirement and Post-Retirement Benefit Plans,” for more information. | |||||||||||||||||
This accumulated other comprehensive income component is reclassified into “Cost of revenues” in our Condensed Consolidated Statements of Operations. | |||||||||||||||||
CONDENSED_CONSOLIDATING_FINANC
CONDENSED CONSOLIDATING FINANCIAL INFORMATION | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 28, 2013 | ||||||||||||||||||||||||||||
Notes to Financial Statements [Abstract] | ' | |||||||||||||||||||||||||||
CONDENSED CONSOLIDATING FINANCIAL INFORMATION | ' | |||||||||||||||||||||||||||
NOTE 17. CONDENSED CONSOLIDATING FINANCIAL INFORMATION | ||||||||||||||||||||||||||||
On March 15, 2012, URS Corporation, the parent company (“Parent”), and URS Fox US LP (“Fox LP”), a 100% owned subsidiary of the Parent, issued the Senior Notes. See Note 9, “Indebtedness,” for more information. The Senior Notes are our general unsecured senior obligations and rank equally with our other existing and future unsecured senior indebtedness. The Senior Notes are fully and unconditionally guaranteed (the “Guarantees”) on a joint-and-several basis by each of the Parent's current and future domestic subsidiaries that are guarantors under our 2011 Credit Facility or that are 100% owned domestic obligors or 100% owned domestic guarantors, individually or collectively, under any future indebtedness of our subsidiaries in excess of $100.0 million (the “Guarantors”). The Guarantees are the Guarantors' unsecured senior obligations and rank equally with the Guarantors' other existing and future unsecured senior indebtedness. | ||||||||||||||||||||||||||||
The Guarantee of a Guarantor will, so long as no event of default shall have occurred and be continuing with respect to the Senior Notes, be automatically and unconditionally released and discharged without any action on the part of the trustee or the holders of the Senior Notes: | ||||||||||||||||||||||||||||
with respect to a Guarantor which, individually or together with the Parent's other domestic subsidiaries, no longer has any indebtedness of borrowed money in excess of $100.0 million outstanding and no longer guarantees, individually or together with the Parent's other domestic subsidiaries, any indebtedness in excess of $100.0 million incurred by the Parent or any of the Parent's other 100% owned domestic subsidiaries; | ||||||||||||||||||||||||||||
unless the Guarantor is the surviving entity (i) upon the sale, lease or exchange of all or substantially all of the Guarantor's assets to any person or entity not an affiliate of the Parent or (ii) upon any sale, exchange or transfer, to any person or entity not an affiliate of the Parent, of all of the Parent's direct and indirect interest in such Guarantor; | ||||||||||||||||||||||||||||
upon the full and final payment and performance of all obligations under the indenture and the Senior Notes; | ||||||||||||||||||||||||||||
upon liquidation and dissolution of a Guarantor in a transaction that is not prohibited by the indenture; or | ||||||||||||||||||||||||||||
upon legal defeasance, covenant defeasance or satisfaction and discharge of the indenture. | ||||||||||||||||||||||||||||
In addition, the Guarantee of any domestic subsidiary that is a Guarantor will be automatically and unconditionally released and discharged, without any further action required by such Guarantor, the trustee, or the holders of the Senior Notes, if at any time such domestic subsidiary of the Parent that is a Guarantor is no longer a domestic subsidiary of the Parent. | ||||||||||||||||||||||||||||
We have early adopted Accounting Standards Update (ASU) 2013-04 – Obligations Resulting from Joint and Several Liability Arrangements For Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The update requires companies to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. The total amount of the obligation is the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligor. | ||||||||||||||||||||||||||||
Consistent with the arrangement between Parent and Fox LP, $300.4 million and $699.6 million of the Senior Notes are included in the liabilities of Parent and Fox LP, respectively, as of both June 28, 2013 and December 28, 2012. | ||||||||||||||||||||||||||||
Restatement and Revision of Previously Issued Condensed Consolidating Financial Information | ||||||||||||||||||||||||||||
Subsequent to initially filing the condensed consolidating financial information, immaterial errors described below were discovered, which impacted the previously presented condensed consolidating financial information. These immaterial errors are referred to in the table below as Revision Adjustments. The Revision Adjustments impacting the Condensed Consolidating Balance Sheet as of December 28, 2012 included: | ||||||||||||||||||||||||||||
An adjustment relating to intercompany receivables and intercompany payables. | ||||||||||||||||||||||||||||
Misclassifications of intercompany receivable/payable activities and misclassification of intercompany notes between short-term and long-term. | ||||||||||||||||||||||||||||
A misclassification of an elimination entry that should have been recorded within the non-guarantor column instead of the cross-elimination column. | ||||||||||||||||||||||||||||
We assessed the materiality of all of these errors in accordance with the SEC's Staff Accounting Bulletin 99 and concluded that the previously issued consolidated financial statements were not materially misstated. In accordance with the SEC's Staff Accounting Bulletin 108, we have corrected these immaterial errors by revising the previously issued condensed consolidating financial statements included in this footnote. | ||||||||||||||||||||||||||||
In connection with the restatement described in Note 1, “Business, Basis of Presentation, and Accounting Policies,” above, we have restated the Condensed Consolidating Balance Sheet as of June 28, 2013 and December 28, 2012. The effects of these restatements are referred to below as Restatement Adjustments. | ||||||||||||||||||||||||||||
The following table presents the effects of the Restatement Adjustments and Revision Adjustments on the Condensed Consolidating Balance Sheets as of June 28, 2013 and December 28, 2012. | ||||||||||||||||||||||||||||
As of June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Condensed Consolidating Balance Sheets Data: | ||||||||||||||||||||||||||||
As Reported | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 36.9 | $ | — | $ | 21.4 | $ | 197.5 | $ | -21.7 | $ | 234.1 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 808.6 | 684.4 | -24 | 1,469.00 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 721.4 | 618.1 | -8.8 | 1,330.70 | ||||||||||||||||||||||
Less receivable allowances | — | — | -31 | -32.8 | — | -63.8 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,499.00 | 1,269.70 | -32.8 | 2,735.90 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,503.00 | 28.1 | 3,658.00 | 1,273.70 | -6,462.80 | — | ||||||||||||||||||||||
Deferred tax assets | 4.7 | — | 49.3 | 0.2 | — | 54.2 | ||||||||||||||||||||||
Inventory | — | — | 2.7 | 52.4 | — | 55.1 | ||||||||||||||||||||||
Other current assets | 41.3 | — | 76 | 105.1 | — | 222.4 | ||||||||||||||||||||||
Total current assets | 1,585.90 | 28.1 | 5,306.40 | 2,898.60 | -6,517.30 | 3,301.70 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,465.40 | 36 | 1,692.90 | 210.3 | -7,148.40 | 256.2 | ||||||||||||||||||||||
Property and equipment at cost, net | 29.3 | — | 160.1 | 457.7 | — | 647.1 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 205.6 | 418.7 | — | 624.5 | ||||||||||||||||||||||
Goodwill | — | — | 1,778.70 | 1,435.50 | 0.3 | 3,214.50 | ||||||||||||||||||||||
Other long-term assets | 20.7 | — | 362.9 | 80.2 | -4.8 | 459 | ||||||||||||||||||||||
Total assets | $ | 7,101.50 | $ | 64.1 | $ | 9,506.60 | $ | 5,501.00 | $ | -13,670.20 | $ | 8,503.00 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 30.8 | $ | — | $ | 10.5 | $ | 44.4 | $ | — | $ | 85.7 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 9 | — | 353.3 | 357.2 | -39.3 | 680.2 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 35.3 | — | 304.8 | 147.8 | — | 487.9 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 122.3 | 138.5 | -0.2 | 260.6 | ||||||||||||||||||||||
Intercompany accounts payable | 2,961.70 | 14.7 | 2,422.60 | 1,063.80 | -6,462.80 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 29.4 | — | 20.4 | 21.6 | -71.4 | — | ||||||||||||||||||||||
Other current liabilities | 32.4 | 8.2 | 144.7 | 66.8 | -21.5 | 230.6 | ||||||||||||||||||||||
Total current liabilities | 3,098.60 | 22.9 | 3,378.60 | 1,840.10 | -6,595.20 | 1,745.00 | ||||||||||||||||||||||
Long-term debt | 988.4 | 699.6 | 16.7 | 300.3 | — | 2,005.00 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 254.3 | 81 | -4.6 | 330.7 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 13.6 | 114.4 | — | 128 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 177.4 | 107.5 | — | 284.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 558.6 | 1,259.90 | -1,818.50 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 235.7 | 47.3 | — | 285.8 | ||||||||||||||||||||||
Total liabilities | 4,089.80 | 722.5 | 4,634.90 | 3,750.50 | -8,418.30 | 4,779.40 | ||||||||||||||||||||||
URS stockholders' equity | 3,585.70 | 14.1 | 5,465.40 | 1,662.30 | -7,141.80 | 3,585.70 | ||||||||||||||||||||||
Intercompany notes receivable | -574 | -672.5 | -593.7 | -49.7 | 1,889.90 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,011.70 | -658.4 | 4,871.70 | 1,612.60 | -5,251.90 | 3,585.70 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 137.9 | — | 137.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,011.70 | -658.4 | 4,871.70 | 1,750.50 | -5,251.90 | 3,723.60 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,101.50 | $ | 64.1 | $ | 9,506.60 | $ | 5,501.00 | $ | -13,670.20 | $ | 8,503.00 | ||||||||||||||||
As of June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Restatement Adjustments | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | $ | 422.9 | $ | — | $ | 224.1 | $ | — | $ | -647 | $ | — | ||||||||||||||||
Goodwill | $ | — | $ | — | $ | 250.4 | $ | 224.1 | $ | — | $ | 474.5 | ||||||||||||||||
Total assets | $ | 422.9 | $ | — | $ | 474.5 | $ | 224.1 | $ | -647 | $ | 474.5 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Deferred tax liabilities | $ | — | $ | — | $ | 51.6 | $ | — | $ | — | $ | 51.6 | ||||||||||||||||
Total liabilities | $ | — | $ | — | $ | 51.6 | $ | — | $ | — | $ | 51.6 | ||||||||||||||||
URS stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total URS stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total liabilities and stockholders' equity | $ | 422.9 | $ | — | $ | 474.5 | $ | 224.1 | $ | -647 | $ | 474.5 | ||||||||||||||||
As of June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
As Restated | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 36.9 | $ | — | $ | 21.4 | $ | 197.5 | $ | -21.7 | $ | 234.1 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 808.6 | 684.4 | -24 | 1,469.00 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 721.4 | 618.1 | -8.8 | 1,330.70 | ||||||||||||||||||||||
Less receivable allowances | — | — | -31 | -32.8 | — | -63.8 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,499.00 | 1,269.70 | -32.8 | 2,735.90 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,503.00 | 28.1 | 3,658.00 | 1,273.70 | -6,462.80 | — | ||||||||||||||||||||||
Deferred tax assets | 4.7 | — | 49.3 | 0.2 | — | 54.2 | ||||||||||||||||||||||
Inventory | — | — | 2.7 | 52.4 | — | 55.1 | ||||||||||||||||||||||
Other current assets | 41.3 | — | 76 | 105.1 | — | 222.4 | ||||||||||||||||||||||
Total current assets | 1,585.90 | 28.1 | 5,306.40 | 2,898.60 | -6,517.30 | 3,301.70 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,888.30 | 36 | 1,917.00 | 210.3 | -7,795.40 | 256.2 | ||||||||||||||||||||||
Property and equipment at cost, net | 29.3 | — | 160.1 | 457.7 | — | 647.1 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 205.6 | 418.7 | — | 624.5 | ||||||||||||||||||||||
Goodwill | — | — | 2,029.10 | 1,659.60 | 0.3 | 3,689.00 | ||||||||||||||||||||||
Other long-term assets | 20.7 | — | 362.9 | 80.2 | -4.8 | 459 | ||||||||||||||||||||||
Total assets | $ | 7,524.40 | $ | 64.1 | $ | 9,981.10 | $ | 5,725.10 | $ | -14,317.20 | $ | 8,977.50 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 30.8 | $ | — | $ | 10.5 | $ | 44.4 | $ | — | $ | 85.7 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 9 | — | 353.3 | 357.2 | -39.3 | 680.2 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 35.3 | — | 304.8 | 147.8 | — | 487.9 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 122.3 | 138.5 | -0.2 | 260.6 | ||||||||||||||||||||||
Intercompany accounts payable | 2,961.70 | 14.7 | 2,422.60 | 1,063.80 | -6,462.80 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 29.4 | — | 20.4 | 21.6 | -71.4 | — | ||||||||||||||||||||||
Other current liabilities | 32.4 | 8.2 | 144.7 | 66.8 | -21.5 | 230.6 | ||||||||||||||||||||||
Total current liabilities | 3,098.60 | 22.9 | 3,378.60 | 1,840.10 | -6,595.20 | 1,745.00 | ||||||||||||||||||||||
Long-term debt | 988.4 | 699.6 | 16.7 | 300.3 | — | 2,005.00 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 305.9 | 81 | -4.6 | 382.3 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 13.6 | 114.4 | — | 128 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 177.4 | 107.5 | — | 284.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 558.6 | 1,259.90 | -1,818.50 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 235.7 | 47.3 | — | 285.8 | ||||||||||||||||||||||
Total liabilities | 4,089.80 | 722.5 | 4,686.50 | 3,750.50 | -8,418.30 | 4,831.00 | ||||||||||||||||||||||
URS stockholders' equity | 4,008.60 | 14.1 | 5,888.30 | 1,886.40 | -7,788.80 | 4,008.60 | ||||||||||||||||||||||
Intercompany notes receivable | -574 | -672.5 | -593.7 | -49.7 | 1,889.90 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,434.60 | -658.4 | 5,294.60 | 1,836.70 | -5,898.90 | 4,008.60 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 137.9 | — | 137.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,434.60 | -658.4 | 5,294.60 | 1,974.60 | -5,898.90 | 4,146.50 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,524.40 | $ | 64.1 | $ | 9,981.10 | $ | 5,725.10 | $ | -14,317.20 | $ | 8,977.50 | ||||||||||||||||
As of December 28, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Condensed Consolidating Balance Sheets Data: | ||||||||||||||||||||||||||||
As Reported | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 14.4 | $ | — | $ | 16.3 | $ | 285.4 | $ | -1.6 | $ | 314.5 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 771.2 | 811.8 | -28.2 | 1,554.80 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 876.9 | 515.7 | -8.3 | 1,384.30 | ||||||||||||||||||||||
Less receivable allowances | — | — | -29.1 | -40.6 | — | -69.7 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,619.00 | 1,286.90 | -36.5 | 2,869.40 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,765.80 | 22.4 | 4,248.90 | 1,530.60 | -7,567.70 | — | ||||||||||||||||||||||
Deferred tax assets | 6.8 | — | 60.3 | 0.5 | — | 67.6 | ||||||||||||||||||||||
Inventory | — | — | 5.5 | 56 | — | 61.5 | ||||||||||||||||||||||
Other current assets | 38.2 | — | 65.5 | 111.3 | -10.8 | 204.2 | ||||||||||||||||||||||
Total current assets | 1,825.20 | 22.4 | 6,015.50 | 3,270.70 | -7,616.60 | 3,517.20 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,400.50 | 20.7 | 1,812.00 | 258.9 | -7,213.80 | 278.3 | ||||||||||||||||||||||
Property and equipment at cost, net | 26.9 | — | 159.7 | 500.9 | — | 687.5 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 223.5 | 468.5 | — | 692.2 | ||||||||||||||||||||||
Goodwill | — | — | 1,778.70 | 1,468.40 | — | 3,247.10 | ||||||||||||||||||||||
Other long-term assets | 22.4 | — | 231.3 | 115.3 | -4.8 | 364.2 | ||||||||||||||||||||||
Total assets | $ | 7,275.20 | $ | 43.1 | $ | 10,220.70 | $ | 6,082.70 | $ | -14,835.20 | $ | 8,786.50 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 18.9 | $ | — | $ | 10 | $ | 42.9 | $ | — | $ | 71.8 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 4.1 | — | 382.8 | 454.8 | -38.2 | 803.5 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 41.1 | — | 362.6 | 155.1 | — | 558.8 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 146.4 | 143 | -0.3 | 289.1 | ||||||||||||||||||||||
Intercompany accounts payable | 3,138.30 | 14.7 | 3,109.10 | 1,305.60 | -7,567.70 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 14.3 | — | 20 | 599.2 | -633.5 | — | ||||||||||||||||||||||
Other current liabilities | 59.4 | 8.6 | 146.3 | 74 | -10.5 | 277.8 | ||||||||||||||||||||||
Total current liabilities | 3,276.10 | 23.3 | 4,177.20 | 2,774.60 | -8,250.20 | 2,001.00 | ||||||||||||||||||||||
Long-term debt | 952.2 | 699.6 | 16.9 | 323.8 | — | 1,992.50 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 247.6 | 85.5 | -4.8 | 328.3 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 18.3 | 111.5 | — | 129.8 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 185.4 | 115.5 | — | 300.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 561.7 | 687.8 | -1,249.50 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.9 | — | 197 | 71.1 | — | 271 | ||||||||||||||||||||||
Total liabilities | 4,231.20 | 722.9 | 5,404.10 | 4,169.80 | -9,504.50 | 5,023.50 | ||||||||||||||||||||||
URS stockholders' equity | 3,621.10 | 8 | 5,400.40 | 1,805.30 | -7,213.70 | 3,621.10 | ||||||||||||||||||||||
Intercompany notes receivable | -577.1 | -687.8 | -583.8 | -34.3 | 1,883.00 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,044.00 | -679.8 | 4,816.60 | 1,771.00 | -5,330.70 | 3,621.10 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 141.9 | — | 141.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,044.00 | -679.8 | 4,816.60 | 1,912.90 | -5,330.70 | 3,763.00 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,275.20 | $ | 43.1 | $ | 10,220.70 | $ | 6,082.70 | $ | -14,835.20 | $ | 8,786.50 | ||||||||||||||||
As of December 28, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Restatement Adjustments | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | $ | 422.9 | $ | — | $ | 224.1 | $ | — | $ | -647 | $ | — | ||||||||||||||||
Goodwill | $ | — | $ | — | $ | 250.4 | $ | 224.1 | $ | — | $ | 474.5 | ||||||||||||||||
Total assets | $ | 422.9 | $ | — | $ | 474.5 | $ | 224.1 | $ | -647 | $ | 474.5 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Deferred tax liabilities | $ | — | $ | — | $ | 51.6 | $ | — | $ | — | $ | 51.6 | ||||||||||||||||
Total liabilities | $ | — | $ | — | $ | 51.6 | $ | — | $ | — | $ | 51.6 | ||||||||||||||||
URS stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total URS stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total liabilities and stockholders' equity | $ | 422.9 | $ | — | $ | 474.5 | $ | 224.1 | $ | -647 | $ | 474.5 | ||||||||||||||||
As of December 28, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Revision Adjustments | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Accounts receivable, including retentions | $ | — | $ | — | $ | 0.1 | $ | — | $ | -0.1 | $ | — | ||||||||||||||||
Net accounts receivable | $ | — | $ | — | $ | 0.1 | $ | — | $ | -0.1 | $ | — | ||||||||||||||||
Intercompany accounts receivable | $ | 27.4 | $ | — | $ | -315.8 | $ | -261.6 | $ | 550 | $ | — | ||||||||||||||||
Total current assets | $ | 27.4 | $ | — | $ | -315.7 | $ | -261.6 | $ | 549.9 | $ | — | ||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | $ | 0.1 | $ | — | $ | 0.2 | $ | -16.7 | $ | 16.4 | $ | — | ||||||||||||||||
Intangible assets, net | $ | — | $ | — | $ | -0.2 | $ | 0.2 | $ | — | $ | — | ||||||||||||||||
Other long-term assets | $ | -0.1 | $ | — | $ | — | $ | -0.2 | $ | 0.3 | $ | — | ||||||||||||||||
Total assets | $ | 27.4 | $ | — | $ | -315.7 | $ | -278.3 | $ | 566.6 | $ | — | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Accounts payable and subcontractors payable, including retentions | $ | 0.1 | $ | — | $ | -0.1 | $ | — | $ | — | $ | — | ||||||||||||||||
Accrued salaries and employee benefits | $ | -0.1 | $ | — | $ | 0.1 | $ | — | $ | — | $ | — | ||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | $ | — | $ | — | $ | -0.1 | $ | — | $ | 0.1 | $ | — | ||||||||||||||||
Intercompany accounts payable | $ | 27.4 | $ | — | $ | -315.7 | $ | -261.7 | $ | 550 | $ | — | ||||||||||||||||
Short-term intercompany notes payable | $ | — | $ | — | $ | — | $ | -577.6 | $ | 577.6 | $ | — | ||||||||||||||||
Other current liabilities | $ | 0.1 | $ | — | $ | -0.1 | $ | 4 | $ | -4 | $ | — | ||||||||||||||||
Total current liabilities | $ | 27.5 | $ | — | $ | -315.9 | $ | -835.3 | $ | 1,123.70 | $ | — | ||||||||||||||||
Deferred tax liabilities | $ | — | $ | — | $ | -0.1 | $ | 0.1 | $ | — | $ | — | ||||||||||||||||
Long-term intercompany notes payable | $ | — | $ | — | $ | — | $ | 577.6 | $ | -577.6 | $ | — | ||||||||||||||||
Other long-term liabilities | $ | -0.1 | $ | — | $ | 0.1 | $ | — | $ | — | $ | — | ||||||||||||||||
Total liabilities | $ | 27.4 | $ | — | $ | -315.9 | $ | -257.6 | $ | 546.1 | $ | — | ||||||||||||||||
Commitments and contingencies | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||
URS stockholders' equity | $ | — | $ | — | $ | 0.2 | $ | -20.7 | $ | 20.5 | $ | — | ||||||||||||||||
Total URS stockholders' equity | $ | — | $ | — | $ | 0.2 | $ | -20.7 | $ | 20.5 | $ | — | ||||||||||||||||
Total stockholders' equity | $ | — | $ | — | $ | 0.2 | $ | -20.7 | $ | 20.5 | $ | — | ||||||||||||||||
Total liabilities and stockholders' equity | $ | 27.4 | $ | — | $ | -315.7 | $ | -278.3 | $ | 566.6 | $ | — | ||||||||||||||||
As of December 28, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
As Revised and Restated | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 14.4 | $ | — | $ | 16.3 | $ | 285.4 | $ | -1.6 | $ | 314.5 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 771.3 | 811.8 | -28.3 | 1,554.80 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 876.9 | 515.7 | -8.3 | 1,384.30 | ||||||||||||||||||||||
Less receivable allowances | — | — | -29.1 | -40.6 | — | -69.7 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,619.10 | 1,286.90 | -36.6 | 2,869.40 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,793.20 | 22.4 | 3,933.10 | 1,269.00 | -7,017.70 | — | ||||||||||||||||||||||
Deferred tax assets | 6.8 | — | 60.3 | 0.5 | — | 67.6 | ||||||||||||||||||||||
Inventory | — | — | 5.5 | 56 | — | 61.5 | ||||||||||||||||||||||
Other current assets | 38.2 | — | 65.5 | 111.3 | -10.8 | 204.2 | ||||||||||||||||||||||
Total current assets | 1,852.60 | 22.4 | 5,699.80 | 3,009.10 | -7,066.70 | 3,517.20 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,823.50 | 20.7 | 2,036.30 | 242.2 | -7,844.40 | 278.3 | ||||||||||||||||||||||
Property and equipment at cost, net | 26.9 | — | 159.7 | 500.9 | — | 687.5 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 223.3 | 468.7 | — | 692.2 | ||||||||||||||||||||||
Goodwill | — | — | 2,029.10 | 1,692.50 | — | 3,721.60 | ||||||||||||||||||||||
Other long-term assets | 22.3 | — | 231.3 | 115.1 | -4.5 | 364.2 | ||||||||||||||||||||||
Total assets | $ | 7,725.50 | $ | 43.1 | $ | 10,379.50 | $ | 6,028.50 | $ | -14,915.60 | $ | 9,261.00 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 18.9 | $ | — | $ | 10 | $ | 42.9 | $ | — | $ | 71.8 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 4.2 | — | 382.7 | 454.8 | -38.2 | 803.5 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 41 | — | 362.7 | 155.1 | — | 558.8 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 146.3 | 143 | -0.2 | 289.1 | ||||||||||||||||||||||
Intercompany accounts payable | 3,165.70 | 14.7 | 2,793.40 | 1,043.90 | -7,017.70 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 14.3 | — | 20 | 21.6 | -55.9 | — | ||||||||||||||||||||||
Other current liabilities | 59.5 | 8.6 | 146.2 | 78 | -14.5 | 277.8 | ||||||||||||||||||||||
Total current liabilities | 3,303.60 | 23.3 | 3,861.30 | 1,939.30 | -7,126.50 | 2,001.00 | ||||||||||||||||||||||
Long-term debt | 952.2 | 699.6 | 16.9 | 323.8 | — | 1,992.50 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 299.1 | 85.6 | -4.8 | 379.9 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 18.3 | 111.5 | — | 129.8 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 185.4 | 115.5 | — | 300.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 561.7 | 1,265.40 | -1,827.10 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 197.1 | 71.1 | — | 271 | ||||||||||||||||||||||
Total liabilities | 4,258.60 | 722.9 | 5,139.80 | 3,912.20 | -8,958.40 | 5,075.10 | ||||||||||||||||||||||
URS stockholders' equity | 4,044.00 | 8 | 5,823.50 | 2,008.70 | -7,840.20 | 4,044.00 | ||||||||||||||||||||||
Intercompany notes receivable | -577.1 | -687.8 | -583.8 | -34.3 | 1,883.00 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,466.90 | -679.8 | 5,239.70 | 1,974.40 | -5,957.20 | 4,044.00 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 141.9 | — | 141.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,466.90 | -679.8 | 5,239.70 | 2,116.30 | -5,957.20 | 4,185.90 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,725.50 | $ | 43.1 | $ | 10,379.50 | $ | 6,028.50 | $ | -14,915.60 | $ | 9,261.00 | ||||||||||||||||
The following is our condensed consolidating financial information, segregating the issuers, guarantor subsidiaries and non-guarantor subsidiaries, as of June 28, 2013 and December 28, 2012, and for the three and six months ended June 28, 2013 and June 29, 2012. | ||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET – UNAUDITED - As Restated | ||||||||||||||||||||||||||||
As of June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 36.9 | $ | — | $ | 21.4 | $ | 197.5 | $ | -21.7 | $ | 234.1 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 808.6 | 684.4 | -24 | 1,469.00 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 721.4 | 618.1 | -8.8 | 1,330.70 | ||||||||||||||||||||||
Less receivable allowances | — | — | -31 | -32.8 | — | -63.8 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,499.00 | 1,269.70 | -32.8 | 2,735.90 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,503.00 | 28.1 | 3,658.00 | 1,273.70 | -6,462.80 | — | ||||||||||||||||||||||
Deferred tax assets | 4.7 | — | 49.3 | 0.2 | — | 54.2 | ||||||||||||||||||||||
Inventory | — | — | 2.7 | 52.4 | — | 55.1 | ||||||||||||||||||||||
Other current assets | 41.3 | — | 76 | 105.1 | — | 222.4 | ||||||||||||||||||||||
Total current assets | 1,585.90 | 28.1 | 5,306.40 | 2,898.60 | -6,517.30 | 3,301.70 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,888.30 | 36 | 1,917.00 | 210.3 | -7,795.40 | 256.2 | ||||||||||||||||||||||
Property and equipment at cost, net | 29.3 | — | 160.1 | 457.7 | — | 647.1 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 205.6 | 418.7 | — | 624.5 | ||||||||||||||||||||||
Goodwill | — | — | 2,029.10 | 1,659.60 | 0.3 | 3,689.00 | ||||||||||||||||||||||
Other long-term assets | 20.7 | — | 362.9 | 80.2 | -4.8 | 459 | ||||||||||||||||||||||
Total assets | $ | 7,524.40 | $ | 64.1 | $ | 9,981.10 | $ | 5,725.10 | $ | -14,317.20 | $ | 8,977.50 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 30.8 | $ | — | $ | 10.5 | $ | 44.4 | $ | — | $ | 85.7 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 9 | — | 353.3 | 357.2 | -39.3 | 680.2 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 35.3 | — | 304.8 | 147.8 | — | 487.9 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 122.3 | 138.5 | -0.2 | 260.6 | ||||||||||||||||||||||
Intercompany accounts payable | 2,961.70 | 14.7 | 2,422.60 | 1,063.80 | -6,462.80 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 29.4 | — | 20.4 | 21.6 | -71.4 | — | ||||||||||||||||||||||
Other current liabilities | 32.4 | 8.2 | 144.7 | 66.8 | -21.5 | 230.6 | ||||||||||||||||||||||
Total current liabilities | 3,098.60 | 22.9 | 3,378.60 | 1,840.10 | -6,595.20 | 1,745.00 | ||||||||||||||||||||||
Long-term debt | 988.4 | 699.6 | 16.7 | 300.3 | — | 2,005.00 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 305.9 | 81 | -4.6 | 382.3 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 13.6 | 114.4 | — | 128 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 177.4 | 107.5 | — | 284.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 558.6 | 1,259.90 | -1,818.50 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 235.7 | 47.3 | — | 285.8 | ||||||||||||||||||||||
Total liabilities | 4,089.80 | 722.5 | 4,686.50 | 3,750.50 | -8,418.30 | 4,831.00 | ||||||||||||||||||||||
URS stockholders' equity | 4,008.60 | 14.1 | 5,888.30 | 1,886.40 | -7,788.80 | 4,008.60 | ||||||||||||||||||||||
Intercompany notes receivable | -574 | -672.5 | -593.7 | -49.7 | 1,889.90 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,434.60 | -658.4 | 5,294.60 | 1,836.70 | -5,898.90 | 4,008.60 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 137.9 | — | 137.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,434.60 | -658.4 | 5,294.60 | 1,974.60 | -5,898.90 | 4,146.50 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,524.40 | $ | 64.1 | $ | 9,981.10 | $ | 5,725.10 | $ | -14,317.20 | $ | 8,977.50 | ||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET – As Revised and Restated | ||||||||||||||||||||||||||||
(in millions) | As of December 28, 2012 | |||||||||||||||||||||||||||
Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | |||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 14.4 | $ | — | $ | 16.3 | $ | 285.4 | $ | -1.6 | $ | 314.5 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 771.3 | 811.8 | -28.3 | 1,554.80 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 876.9 | 515.7 | -8.3 | 1,384.30 | ||||||||||||||||||||||
Less receivable allowances | — | — | -29.1 | -40.6 | — | -69.7 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,619.10 | 1,286.90 | -36.6 | 2,869.40 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,793.20 | 22.4 | 3,933.10 | 1,269.00 | -7,017.70 | — | ||||||||||||||||||||||
Deferred tax assets | 6.8 | — | 60.3 | 0.5 | — | 67.6 | ||||||||||||||||||||||
Inventory | — | — | 5.5 | 56 | — | 61.5 | ||||||||||||||||||||||
Other current assets | 38.2 | — | 65.5 | 111.3 | -10.8 | 204.2 | ||||||||||||||||||||||
Total current assets | 1,852.60 | 22.4 | 5,699.80 | 3,009.10 | -7,066.70 | 3,517.20 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,823.50 | 20.7 | 2,036.30 | 242.2 | -7,844.40 | 278.3 | ||||||||||||||||||||||
Property and equipment at cost, net | 26.9 | — | 159.7 | 500.9 | — | 687.5 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 223.3 | 468.7 | — | 692.2 | ||||||||||||||||||||||
Goodwill | — | — | 2,029.10 | 1,692.50 | — | 3,721.60 | ||||||||||||||||||||||
Other long-term assets | 22.3 | — | 231.3 | 115.1 | -4.5 | 364.2 | ||||||||||||||||||||||
Total assets | $ | 7,725.50 | $ | 43.1 | $ | 10,379.50 | $ | 6,028.50 | $ | -14,915.60 | $ | 9,261.00 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 18.9 | $ | — | $ | 10 | $ | 42.9 | $ | — | $ | 71.8 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 4.2 | — | 382.7 | 454.8 | -38.2 | 803.5 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 41 | — | 362.7 | 155.1 | — | 558.8 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 146.3 | 143 | -0.2 | 289.1 | ||||||||||||||||||||||
Intercompany accounts payable | 3,165.70 | 14.7 | 2,793.40 | 1,043.90 | -7,017.70 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 14.3 | — | 20 | 21.6 | -55.9 | — | ||||||||||||||||||||||
Other current liabilities | 59.5 | 8.6 | 146.2 | 78 | -14.5 | 277.8 | ||||||||||||||||||||||
Total current liabilities | 3,303.60 | 23.3 | 3,861.30 | 1,939.30 | -7,126.50 | 2,001.00 | ||||||||||||||||||||||
Long-term debt | 952.2 | 699.6 | 16.9 | 323.8 | — | 1,992.50 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 299.1 | 85.6 | -4.8 | 379.9 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 18.3 | 111.5 | — | 129.8 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 185.4 | 115.5 | — | 300.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 561.7 | 1,265.40 | -1,827.10 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 197.1 | 71.1 | — | 271 | ||||||||||||||||||||||
Total liabilities | 4,258.60 | 722.9 | 5,139.80 | 3,912.20 | -8,958.40 | 5,075.10 | ||||||||||||||||||||||
URS stockholders' equity | 4,044.00 | 8 | 5,823.50 | 2,008.70 | -7,840.20 | 4,044.00 | ||||||||||||||||||||||
Intercompany notes receivable | -577.1 | -687.8 | -583.8 | -34.3 | 1,883.00 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,466.90 | -679.8 | 5,239.70 | 1,974.40 | -5,957.20 | 4,044.00 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 141.9 | — | 141.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,466.90 | -679.8 | 5,239.70 | 2,116.30 | -5,957.20 | 4,185.90 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,725.50 | $ | 43.1 | $ | 10,379.50 | $ | 6,028.50 | $ | -14,915.60 | $ | 9,261.00 | ||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS – UNAUDITED | ||||||||||||||||||||||||||||
For the Three Months Ended June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 1,655.60 | $ | 1,223.60 | $ | -87.2 | $ | 2,792.00 | ||||||||||||||||
Cost of revenues | — | — | -1,535.60 | -1,193.20 | 87.2 | -2,641.60 | ||||||||||||||||||||||
General and administrative expenses | -23.8 | — | — | 0.9 | — | -22.9 | ||||||||||||||||||||||
Equity in income (loss) in subsidiaries | 66.3 | 7.7 | 2.7 | -4.8 | -71.9 | — | ||||||||||||||||||||||
Equity in income of unconsolidated joint ventures | — | — | 1.6 | 16.3 | — | 17.9 | ||||||||||||||||||||||
Intercompany royalty and general and administrative charges | 31.3 | — | -25.7 | -5.6 | — | — | ||||||||||||||||||||||
Operating income (loss) | 73.8 | 7.7 | 98.6 | 37.2 | -71.9 | 145.4 | ||||||||||||||||||||||
Interest expense | -8 | -8.6 | — | -4.9 | — | -21.5 | ||||||||||||||||||||||
Intercompany interest income | 2.3 | 0.9 | 8.9 | 0.4 | -12.5 | — | ||||||||||||||||||||||
Intercompany interest expense | -0.2 | — | -2.5 | -9.8 | 12.5 | — | ||||||||||||||||||||||
Other income (expenses) | — | — | — | -3.3 | — | -3.3 | ||||||||||||||||||||||
Income (loss) before income taxes | 67.9 | — | 105 | 19.6 | -71.9 | 120.6 | ||||||||||||||||||||||
Income tax benefit (expense) | -0.6 | 2.9 | -38.7 | -2.5 | — | -38.9 | ||||||||||||||||||||||
Net income (loss) including noncontrolling interests | 67.3 | 2.9 | 66.3 | 17.1 | -71.9 | 81.7 | ||||||||||||||||||||||
Noncontrolling interests in income of consolidated subsidiaries | — | — | — | -14.4 | — | -14.4 | ||||||||||||||||||||||
Net income (loss) attributable to URS | $ | 67.3 | $ | 2.9 | $ | 66.3 | $ | 2.7 | $ | -71.9 | $ | 67.3 | ||||||||||||||||
Comprehensive income (loss) attributable to URS | $ | 30.3 | $ | 2.9 | $ | 30.3 | $ | -35.6 | $ | 2.4 | $ | 30.3 | ||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS – UNAUDITED | ||||||||||||||||||||||||||||
For the Three Months Ended June 29, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 1,728.90 | $ | 1,060.40 | $ | -98.6 | $ | 2,690.70 | ||||||||||||||||
Cost of revenues | — | — | -1,616.50 | -1,009.60 | 98.6 | -2,527.50 | ||||||||||||||||||||||
General and administrative expenses | -18.1 | — | — | -1.3 | — | -19.4 | ||||||||||||||||||||||
Acquisition-related expenses | -2.6 | — | — | -8.7 | — | -11.3 | ||||||||||||||||||||||
Equity in income (loss) in subsidiaries | 54.3 | 4.4 | 0.9 | -2.6 | -57 | — | ||||||||||||||||||||||
Equity in income of unconsolidated joint ventures | — | — | 4.3 | 12.7 | — | 17 | ||||||||||||||||||||||
Intercompany royalty and general and administrative charges | 35.3 | — | -31.6 | -3.7 | — | — | ||||||||||||||||||||||
Operating income (loss) | 68.9 | 4.4 | 86 | 47.2 | -57 | 149.5 | ||||||||||||||||||||||
Interest expense | -13.1 | -4.7 | -0.2 | -2.7 | — | -20.7 | ||||||||||||||||||||||
Intercompany interest income | 2 | 0.5 | 4 | 0.5 | -7 | — | ||||||||||||||||||||||
Intercompany interest expense | -0.3 | — | -1.5 | -5.2 | 7 | — | ||||||||||||||||||||||
Other income (expenses) | -2.8 | — | — | -6.4 | — | -9.2 | ||||||||||||||||||||||
Income (loss) before income taxes | 54.7 | 0.2 | 88.3 | 33.4 | -57 | 119.6 | ||||||||||||||||||||||
Income tax benefit (expense) | -1.1 | 1.6 | -34 | -7 | — | -40.5 | ||||||||||||||||||||||
Net income (loss) including noncontrolling interests | 53.6 | 1.8 | 54.3 | 26.4 | -57 | 79.1 | ||||||||||||||||||||||
Noncontrolling interests in income of consolidated subsidiaries | — | — | — | -25.5 | — | -25.5 | ||||||||||||||||||||||
Net income (loss) attributable to URS | $ | 53.6 | $ | 1.8 | $ | 54.3 | $ | 0.9 | $ | -57 | $ | 53.6 | ||||||||||||||||
Comprehensive income (loss) attributable to URS | $ | 20.9 | $ | 1.8 | $ | 22 | $ | -32.8 | $ | 9 | $ | 20.9 | ||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS – UNAUDITED | ||||||||||||||||||||||||||||
For the Six Months Ended June 28, 2013 | ||||||||||||||||||||||||||||
(In millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 3,327.00 | $ | 2,435.10 | $ | -167.6 | $ | 5,594.50 | ||||||||||||||||
Cost of revenues | — | — | -3,084.80 | -2,375.70 | 167.6 | -5,292.90 | ||||||||||||||||||||||
General and administrative expense | -46 | — | — | 0.4 | — | -45.6 | ||||||||||||||||||||||
Equity in income (loss) in subsidiaries | 132.2 | 15.4 | 9 | -9.3 | -147.3 | — | ||||||||||||||||||||||
Equity in income of unconsolidated joint ventures | — | — | 4.7 | 37.3 | — | 42 | ||||||||||||||||||||||
Intercompany royalty and general and administrative charges | 68.7 | — | -58.7 | -10 | — | — | ||||||||||||||||||||||
Operating income (loss) | 154.9 | 15.4 | 197.2 | 77.8 | -147.3 | 298 | ||||||||||||||||||||||
Interest expense | -15.9 | -16.7 | -0.4 | -9.6 | — | -42.6 | ||||||||||||||||||||||
Intercompany interest income | 4.9 | 1.8 | 17.9 | 0.7 | -25.3 | — | ||||||||||||||||||||||
Intercompany interest expense | -0.5 | — | -5 | -19.8 | 25.3 | — | ||||||||||||||||||||||
Other income (expense) | — | — | — | -5.8 | — | -5.8 | ||||||||||||||||||||||
Income (loss) before income taxes | 143.4 | 0.5 | 209.7 | 43.3 | -147.3 | 249.6 | ||||||||||||||||||||||
Income tax benefit (expense) | -4.2 | 5.6 | -77.5 | -5 | — | -81.1 | ||||||||||||||||||||||
Net income (loss) including noncontrolling interests | 139.2 | 6.1 | 132.2 | 38.3 | -147.3 | 168.5 | ||||||||||||||||||||||
Noncontrolling interests in income of consolidated subsidiaries | — | — | — | -29.3 | — | -29.3 | ||||||||||||||||||||||
Net income (loss) attributable to URS | $ | 139.2 | $ | 6.1 | $ | 132.2 | $ | 9 | $ | -147.3 | $ | 139.2 | ||||||||||||||||
Comprehensive income (loss) attributable to URS | $ | 69.8 | $ | 6.1 | $ | 66.6 | $ | -66.7 | $ | -6 | $ | 69.8 | ||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS – UNAUDITED | ||||||||||||||||||||||||||||
For the Six Months Ended June 29, 2012 | ||||||||||||||||||||||||||||
(In millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 3,443.20 | $ | 1,816.00 | $ | -207 | $ | 5,052.20 | ||||||||||||||||
Cost of revenues | — | — | -3,209.50 | -1,728.20 | 207 | -4,730.70 | ||||||||||||||||||||||
General and administrative expense | -38.5 | — | — | -0.9 | — | -39.4 | ||||||||||||||||||||||
Acquisition-related expense | -8.2 | — | — | -8.7 | — | -16.9 | ||||||||||||||||||||||
Equity in income (loss) in subsidiaries | 131.2 | 4.4 | 31.1 | -2.6 | -164.1 | — | ||||||||||||||||||||||
Equity in income of unconsolidated joint ventures | — | — | 6.4 | 39.3 | — | 45.7 | ||||||||||||||||||||||
Intercompany royalty and general and administrative charges | 73.1 | — | -66 | -7.1 | — | — | ||||||||||||||||||||||
Operating income (loss) | 157.6 | 4.4 | 205.2 | 107.8 | -164.1 | 310.9 | ||||||||||||||||||||||
Interest expense | -22.4 | -4.7 | -0.5 | -2.9 | — | -30.5 | ||||||||||||||||||||||
Intercompany interest income | 2.6 | 0.5 | 4.5 | 1.8 | -9.4 | — | ||||||||||||||||||||||
Intercompany interest expense | -0.8 | — | -2.4 | -6.2 | 9.4 | — | ||||||||||||||||||||||
Other income (expense) | -0.3 | — | — | -6.4 | — | -6.7 | ||||||||||||||||||||||
Income (loss) before income taxes | 136.7 | 0.2 | 206.8 | 94.1 | -164.1 | 273.7 | ||||||||||||||||||||||
Income tax benefit (expense) | -3.4 | 1.6 | -75.6 | -11.7 | — | -89.1 | ||||||||||||||||||||||
Net income (loss) including noncontrolling interests | 133.3 | 1.8 | 131.2 | 82.4 | -164.1 | 184.6 | ||||||||||||||||||||||
Noncontrolling interests in income of consolidated subsidiaries | — | — | — | -51.3 | — | -51.3 | ||||||||||||||||||||||
Net income (loss) attributable to URS | $ | 133.3 | $ | 1.8 | $ | 131.2 | $ | 31.1 | $ | -164.1 | $ | 133.3 | ||||||||||||||||
Comprehensive income (loss) attributable to URS | $ | 122.1 | $ | 1.8 | $ | 122.6 | $ | 22.5 | $ | -146.9 | $ | 122.1 | ||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS – UNAUDITED | ||||||||||||||||||||||||||||
For the Six Months Ended June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Net cash from operating activities | $ | -89.9 | $ | 1.9 | $ | 174 | $ | 5.1 | $ | -0.8 | $ | 90.3 | ||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||
Proceeds from disposal of property and equipment | — | — | 0.4 | 25.6 | — | 26 | ||||||||||||||||||||||
Investments in unconsolidated joint ventures | — | — | -0.1 | — | — | -0.1 | ||||||||||||||||||||||
Changes in restricted cash | — | — | — | 1.7 | — | 1.7 | ||||||||||||||||||||||
Capital expenditures, less equipment purchased through capital leases and equipment notes | -3.1 | — | -15.4 | -27.4 | — | -45.9 | ||||||||||||||||||||||
Investment in intercompany notes receivable | — | — | — | -15 | 15 | — | ||||||||||||||||||||||
Receipts from intercompany notes receivable | — | 15.3 | — | — | -15.3 | — | ||||||||||||||||||||||
Other intercompany investing activities | 393.7 | -17.2 | 306.5 | -2.4 | -680.6 | — | ||||||||||||||||||||||
Net cash from investing activities | 390.6 | -1.9 | 291.4 | -17.5 | -680.9 | -18.3 | ||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||
Payments on long-term debt | — | — | -2.2 | -0.1 | — | -2.3 | ||||||||||||||||||||||
Borrowings from revolving line of credit | 814.5 | — | — | 43.9 | — | 858.4 | ||||||||||||||||||||||
Payments on revolving line of credit | -754.5 | — | — | -68.1 | — | -822.6 | ||||||||||||||||||||||
Net borrowings (payments) under foreign lines of credit and short-term notes | -15.6 | — | -0.1 | 1.1 | — | -14.6 | ||||||||||||||||||||||
Net change in overdrafts | — | — | 5 | 0.9 | -19.3 | -13.4 | ||||||||||||||||||||||
Payments on capital lease obligations | -0.4 | — | -2.3 | -6.4 | — | -9.1 | ||||||||||||||||||||||
Excess tax benefits from stock-based compensation | 1.6 | — | — | — | — | 1.6 | ||||||||||||||||||||||
Proceeds from employee stock purchases and exercises of stock options | 13.3 | — | — | — | — | 13.3 | ||||||||||||||||||||||
Distributions to noncontrolling interests | — | — | — | -31.7 | — | -31.7 | ||||||||||||||||||||||
Dividends paid | -31.4 | — | — | — | — | -31.4 | ||||||||||||||||||||||
Repurchases of common stock | -93.3 | — | — | — | — | -93.3 | ||||||||||||||||||||||
Intercompany notes borrowings | 15 | — | — | — | -15 | — | ||||||||||||||||||||||
Intercompany notes repayments | — | — | — | -15.3 | 15.3 | — | ||||||||||||||||||||||
Other intercompany financing activities | -227.4 | — | -460.7 | 7.5 | 680.6 | — | ||||||||||||||||||||||
Net cash from financing activities | -278.2 | — | -460.3 | -68.2 | 661.6 | -145.1 | ||||||||||||||||||||||
Net change in cash and cash equivalents | 22.5 | — | 5.1 | -80.6 | -20.1 | -73.1 | ||||||||||||||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents | — | — | — | -7.3 | — | -7.3 | ||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 14.4 | — | 16.3 | 285.4 | -1.6 | 314.5 | ||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 36.9 | $ | — | $ | 21.4 | $ | 197.5 | $ | -21.7 | $ | 234.1 | ||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS – UNAUDITED | ||||||||||||||||||||||||||||
For the Six Months Ended June 29, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Net cash from operating activities | $ | -28.5 | $ | — | $ | -117.9 | $ | 94.1 | $ | 72.6 | $ | 20.3 | ||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||
Payments for business acquisitions, net of cash acquired | — | — | — | -1,345.70 | — | -1,345.70 | ||||||||||||||||||||||
Proceeds from disposal of property and equipment | — | — | 1 | 12 | — | 13 | ||||||||||||||||||||||
Payments in settlement of foreign currency forward contracts | -1,260.60 | — | — | — | — | -1,260.60 | ||||||||||||||||||||||
Receipts in settlement of foreign currency forward contracts | 1,260.30 | — | — | — | — | 1,260.30 | ||||||||||||||||||||||
Investments in unconsolidated joint ventures | — | — | -0.9 | -1.1 | — | -2 | ||||||||||||||||||||||
Capital expenditures, less equipment purchased through capital leases and equipment notes | -2.7 | — | -22.8 | -23.5 | — | -49 | ||||||||||||||||||||||
Investments in intercompany notes receivable | -555 | -800 | -555 | — | 1,910.00 | — | ||||||||||||||||||||||
Receipts from intercompany notes receivable | 97.8 | — | — | 30 | -127.8 | — | ||||||||||||||||||||||
Other intercompany investing activities | -696 | — | -600.5 | -698.7 | 1,995.20 | — | ||||||||||||||||||||||
Net cash from investing activities | -1,156.20 | -800 | -1,178.20 | -2,027.00 | 3,777.40 | -1,384.00 | ||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||
Borrowings from long-term debt | 198.9 | 800 | — | — | — | 998.9 | ||||||||||||||||||||||
Payments on long-term debt | — | — | -3.1 | — | — | -3.1 | ||||||||||||||||||||||
Borrowings from revolving line of credit | 560 | — | — | — | — | 560 | ||||||||||||||||||||||
Payments on revolving line of credit | -263.6 | — | — | — | — | -263.6 | ||||||||||||||||||||||
Net payments under foreign lines of credit and short-term notes | -0.4 | — | -0.1 | -6.1 | — | -6.6 | ||||||||||||||||||||||
Net change in overdrafts | -26.4 | — | 54.6 | 2.6 | — | 30.8 | ||||||||||||||||||||||
Payments on capital lease obligations | -0.3 | — | -2.6 | -2.1 | — | -5 | ||||||||||||||||||||||
Payments of debt issuance costs | -8.8 | — | — | — | — | -8.8 | ||||||||||||||||||||||
Proceeds from employee stock purchases and exercises of stock options | 6.2 | — | — | — | — | 6.2 | ||||||||||||||||||||||
Distributions to noncontrolling interests | — | — | — | -35.2 | — | -35.2 | ||||||||||||||||||||||
Contributions and advances from noncontrolling interests | — | — | 0.1 | 2.1 | — | 2.2 | ||||||||||||||||||||||
Dividends paid | -14.9 | — | — | — | — | -14.9 | ||||||||||||||||||||||
Repurchases of common stock | -40 | — | — | — | — | -40 | ||||||||||||||||||||||
Intercompany notes borrowings | — | — | 555 | 1,355.00 | -1,910.00 | — | ||||||||||||||||||||||
Intercompany notes repayments | -30 | — | — | -97.8 | 127.8 | — | ||||||||||||||||||||||
Other intercompany financing activities | 647 | — | 690.6 | 657.6 | -1,995.20 | — | ||||||||||||||||||||||
Net cash from financing activities | 1,027.70 | 800 | 1,294.50 | 1,876.10 | -3,777.40 | 1,220.90 | ||||||||||||||||||||||
Net change in cash and cash equivalents | -157 | — | -1.6 | -56.8 | 72.6 | -142.8 | ||||||||||||||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents | — | — | — | -5.4 | — | -5.4 | ||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 193.9 | — | 24.4 | 294.4 | -76.7 | 436 | ||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 36.9 | $ | — | $ | 22.8 | $ | 232.2 | $ | -4.1 | $ | 287.8 |
INCOME_TAXES
INCOME TAXES | 6 Months Ended |
Jun. 28, 2013 | |
Notes to Financial Statements [Abstract] | ' |
INCOME TAXES | ' |
NOTE ##NTAX. INCOME TAXES | |
The increase in the effective income tax rate for the three and six months ended June 28, 2013 compared with the comparable periods in 2012 is primarily due to the non-deductibility of the goodwill impairment charge taken in 2012. |
BUSINESS_BASIS_OF_PRESENTATION1
BUSINESS, BASIS OF PRESENTATION, AND ACCOUNTING POLICIES (POLICIES) | 6 Months Ended |
Jun. 28, 2013 | |
Accounting Policies [Abstract] | ' |
Reclassifications | ' |
Reclassifications | |
We made reclassifications to the prior year's financial statements to conform them to the current period's presentation. These reclassifications have no effect on our consolidated net cash flows or consolidated net income. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
Cash and cash equivalents include all highly liquid investments with maturities of 90 days or less at the date of purchase and include interest-bearing bank deposits and money market funds. At June 28, 2013 and December 28, 2012, our restricted cash balances were $15.4 million and $17.1 million, respectively. These amounts were included in “Other current assets” on our Condensed Consolidated Balance Sheets. For cash held by our consolidated joint ventures, see Note 6, “Joint Ventures.” | |
Use of and Changes in Estimates | ' |
Use of and Changes in Estimates | |
Our business activities involve making significant estimates and assumptions in the normal course of business relating to our contracts. We focus on evaluating the performance of contracts individually. These estimates and assumptions can vary in the normal course of business as contracts progress, when estimated productivity assumptions change based on experience to-date and as uncertainties are resolved. We use the cumulative catch-up method applicable to construction contract accounting to account for revisions in estimates. | |
During the six months ended June 28, 2013, our results of operations included the recognition of $25.8 million of performance-based incentive fees from our work managing chemical demilitarization programs. These changes in estimates resulted in increases of $25.8 million in operating income, $15.5 million in net income and $0.21 in diluted earnings per common share (“diluted EPS”) for the six months ended June 28, 2013. There were no material changes in estimates for the three months ended June 28, 2013. | |
During the six months ended June 29, 2012, our results of operations included the recognition of a $40.0 million programmatic schedule incentive fee achieved when multiple chemical demilitarization contracts each met its milestones during the period. This change in estimate resulted in increases of $40.0 million in operating income, $24.0 million in net income, and $0.32 in diluted EPS for the six months ended June 29, 2012. There were no material changes in estimates for the three months ended June 29, 2012. |
BUSINESS_BASIS_OF_PRESENTATION2
BUSINESS, BASIS OF PRESENTATION AND ACCOUNTING POLICIES (TABLES) | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 28, 2013 | ||||||||||||||||||||||||||||
Revision of Previously Issued Financial Statements [Abstract] | ' | |||||||||||||||||||||||||||
Revision of Previously Issued Financial Statements [Table Text Block] | ' | |||||||||||||||||||||||||||
As Reported | Adjustment | As Restated | ||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
Consolidated Balance Sheet Data: | ||||||||||||||||||||||||||||
Balance as of June 28, 2013 | ||||||||||||||||||||||||||||
Goodwill | $ | 3,214.50 | $ | 474.5 | $ | 3,689.00 | ||||||||||||||||||||||
Total assets | $ | 8,503.00 | $ | 474.5 | $ | 8,977.50 | ||||||||||||||||||||||
Deferred tax liabilities | $ | 330.7 | $ | 51.6 | $ | 382.3 | ||||||||||||||||||||||
Total liabilities | $ | 4,779.40 | $ | 51.6 | $ | 4,831.00 | ||||||||||||||||||||||
Retained earnings | $ | 1,331.60 | $ | 422.9 | $ | 1,754.50 | ||||||||||||||||||||||
Total URS stockholders' equity | $ | 3,585.70 | $ | 422.9 | $ | 4,008.60 | ||||||||||||||||||||||
Total stockholders' equity | $ | 3,723.60 | $ | 422.9 | $ | 4,146.50 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 8,503.00 | $ | 474.5 | $ | 8,977.50 | ||||||||||||||||||||||
Balance as of December 28, 2012 | ||||||||||||||||||||||||||||
Goodwill | $ | 3,247.10 | $ | 474.5 | $ | 3,721.60 | ||||||||||||||||||||||
Total assets | $ | 8,786.50 | $ | 474.5 | $ | 9,261.00 | ||||||||||||||||||||||
Deferred tax liabilities | $ | 328.3 | $ | 51.6 | $ | 379.9 | ||||||||||||||||||||||
Total liabilities | $ | 5,023.50 | $ | 51.6 | $ | 5,075.10 | ||||||||||||||||||||||
Retained earnings | $ | 1,224.40 | $ | 422.9 | $ | 1,647.30 | ||||||||||||||||||||||
Total URS stockholders' equity | $ | 3,621.10 | $ | 422.9 | $ | 4,044.00 | ||||||||||||||||||||||
Total stockholders' equity | $ | 3,763.00 | $ | 422.9 | $ | 4,185.90 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 8,786.50 | $ | 474.5 | $ | 9,261.00 | ||||||||||||||||||||||
Consolidated Statement of Changes in Stockholders' Equity Data: | ||||||||||||||||||||||||||||
Balance as of December 30, 2011 | ||||||||||||||||||||||||||||
Retained earnings | $ | 975.2 | $ | 422.9 | $ | 1,398.10 | ||||||||||||||||||||||
Total URS stockholders' equity | $ | 3,377.20 | $ | 422.9 | $ | 3,800.10 | ||||||||||||||||||||||
Total stockholders' equity | $ | 3,484.40 | $ | 422.9 | $ | 3,907.30 | ||||||||||||||||||||||
For the Six Months Ended June 29, 2012 | ||||||||||||||||||||||||||||
Retained earnings | $ | 1,077.90 | $ | 422.9 | $ | 1,500.80 | ||||||||||||||||||||||
Total URS stockholders' equity | $ | 3,441.70 | $ | 422.9 | $ | 3,864.60 | ||||||||||||||||||||||
Total stockholders' equity | $ | 3,569.50 | $ | 422.9 | $ | 3,992.40 | ||||||||||||||||||||||
Balance as of December 28, 2012 | ||||||||||||||||||||||||||||
Retained earnings | $ | 1,224.40 | $ | 422.9 | $ | 1,647.30 | ||||||||||||||||||||||
Total URS stockholders' equity | $ | 3,621.10 | $ | 422.9 | $ | 4,044.00 | ||||||||||||||||||||||
Total stockholders' equity | $ | 3,763.00 | $ | 422.9 | $ | 4,185.90 | ||||||||||||||||||||||
For the Six Months Ended June 28, 2013 | ||||||||||||||||||||||||||||
Retained earnings | $ | 1,331.60 | $ | 422.9 | $ | 1,754.50 | ||||||||||||||||||||||
Total URS stockholders' equity | $ | 3,585.70 | $ | 422.9 | $ | 4,008.60 | ||||||||||||||||||||||
Total stockholders' equity | $ | 3,723.60 | $ | 422.9 | $ | 4,146.50 | ||||||||||||||||||||||
As of June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Condensed Consolidating Balance Sheets Data: | ||||||||||||||||||||||||||||
As Reported | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 36.9 | $ | — | $ | 21.4 | $ | 197.5 | $ | -21.7 | $ | 234.1 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 808.6 | 684.4 | -24 | 1,469.00 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 721.4 | 618.1 | -8.8 | 1,330.70 | ||||||||||||||||||||||
Less receivable allowances | — | — | -31 | -32.8 | — | -63.8 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,499.00 | 1,269.70 | -32.8 | 2,735.90 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,503.00 | 28.1 | 3,658.00 | 1,273.70 | -6,462.80 | — | ||||||||||||||||||||||
Deferred tax assets | 4.7 | — | 49.3 | 0.2 | — | 54.2 | ||||||||||||||||||||||
Inventory | — | — | 2.7 | 52.4 | — | 55.1 | ||||||||||||||||||||||
Other current assets | 41.3 | — | 76 | 105.1 | — | 222.4 | ||||||||||||||||||||||
Total current assets | 1,585.90 | 28.1 | 5,306.40 | 2,898.60 | -6,517.30 | 3,301.70 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,465.40 | 36 | 1,692.90 | 210.3 | -7,148.40 | 256.2 | ||||||||||||||||||||||
Property and equipment at cost, net | 29.3 | — | 160.1 | 457.7 | — | 647.1 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 205.6 | 418.7 | — | 624.5 | ||||||||||||||||||||||
Goodwill | — | — | 1,778.70 | 1,435.50 | 0.3 | 3,214.50 | ||||||||||||||||||||||
Other long-term assets | 20.7 | — | 362.9 | 80.2 | -4.8 | 459 | ||||||||||||||||||||||
Total assets | $ | 7,101.50 | $ | 64.1 | $ | 9,506.60 | $ | 5,501.00 | $ | -13,670.20 | $ | 8,503.00 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 30.8 | $ | — | $ | 10.5 | $ | 44.4 | $ | — | $ | 85.7 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 9 | — | 353.3 | 357.2 | -39.3 | 680.2 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 35.3 | — | 304.8 | 147.8 | — | 487.9 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 122.3 | 138.5 | -0.2 | 260.6 | ||||||||||||||||||||||
Intercompany accounts payable | 2,961.70 | 14.7 | 2,422.60 | 1,063.80 | -6,462.80 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 29.4 | — | 20.4 | 21.6 | -71.4 | — | ||||||||||||||||||||||
Other current liabilities | 32.4 | 8.2 | 144.7 | 66.8 | -21.5 | 230.6 | ||||||||||||||||||||||
Total current liabilities | 3,098.60 | 22.9 | 3,378.60 | 1,840.10 | -6,595.20 | 1,745.00 | ||||||||||||||||||||||
Long-term debt | 988.4 | 699.6 | 16.7 | 300.3 | — | 2,005.00 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 254.3 | 81 | -4.6 | 330.7 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 13.6 | 114.4 | — | 128 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 177.4 | 107.5 | — | 284.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 558.6 | 1,259.90 | -1,818.50 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 235.7 | 47.3 | — | 285.8 | ||||||||||||||||||||||
Total liabilities | 4,089.80 | 722.5 | 4,634.90 | 3,750.50 | -8,418.30 | 4,779.40 | ||||||||||||||||||||||
URS stockholders' equity | 3,585.70 | 14.1 | 5,465.40 | 1,662.30 | -7,141.80 | 3,585.70 | ||||||||||||||||||||||
Intercompany notes receivable | -574 | -672.5 | -593.7 | -49.7 | 1,889.90 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,011.70 | -658.4 | 4,871.70 | 1,612.60 | -5,251.90 | 3,585.70 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 137.9 | — | 137.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,011.70 | -658.4 | 4,871.70 | 1,750.50 | -5,251.90 | 3,723.60 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,101.50 | $ | 64.1 | $ | 9,506.60 | $ | 5,501.00 | $ | -13,670.20 | $ | 8,503.00 | ||||||||||||||||
As of June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Restatement Adjustments | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | $ | 422.9 | $ | — | $ | 224.1 | $ | — | $ | -647 | $ | — | ||||||||||||||||
Goodwill | $ | — | $ | — | $ | 250.4 | $ | 224.1 | $ | — | $ | 474.5 | ||||||||||||||||
Total assets | $ | 422.9 | $ | — | $ | 474.5 | $ | 224.1 | $ | -647 | $ | 474.5 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Deferred tax liabilities | $ | — | $ | — | $ | 51.6 | $ | — | $ | — | $ | 51.6 | ||||||||||||||||
Total liabilities | $ | — | $ | — | $ | 51.6 | $ | — | $ | — | $ | 51.6 | ||||||||||||||||
URS stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total URS stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total liabilities and stockholders' equity | $ | 422.9 | $ | — | $ | 474.5 | $ | 224.1 | $ | -647 | $ | 474.5 | ||||||||||||||||
As of June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
As Restated | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 36.9 | $ | — | $ | 21.4 | $ | 197.5 | $ | -21.7 | $ | 234.1 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 808.6 | 684.4 | -24 | 1,469.00 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 721.4 | 618.1 | -8.8 | 1,330.70 | ||||||||||||||||||||||
Less receivable allowances | — | — | -31 | -32.8 | — | -63.8 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,499.00 | 1,269.70 | -32.8 | 2,735.90 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,503.00 | 28.1 | 3,658.00 | 1,273.70 | -6,462.80 | — | ||||||||||||||||||||||
Deferred tax assets | 4.7 | — | 49.3 | 0.2 | — | 54.2 | ||||||||||||||||||||||
Inventory | — | — | 2.7 | 52.4 | — | 55.1 | ||||||||||||||||||||||
Other current assets | 41.3 | — | 76 | 105.1 | — | 222.4 | ||||||||||||||||||||||
Total current assets | 1,585.90 | 28.1 | 5,306.40 | 2,898.60 | -6,517.30 | 3,301.70 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,888.30 | 36 | 1,917.00 | 210.3 | -7,795.40 | 256.2 | ||||||||||||||||||||||
Property and equipment at cost, net | 29.3 | — | 160.1 | 457.7 | — | 647.1 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 205.6 | 418.7 | — | 624.5 | ||||||||||||||||||||||
Goodwill | — | — | 2,029.10 | 1,659.60 | 0.3 | 3,689.00 | ||||||||||||||||||||||
Other long-term assets | 20.7 | — | 362.9 | 80.2 | -4.8 | 459 | ||||||||||||||||||||||
Total assets | $ | 7,524.40 | $ | 64.1 | $ | 9,981.10 | $ | 5,725.10 | $ | -14,317.20 | $ | 8,977.50 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 30.8 | $ | — | $ | 10.5 | $ | 44.4 | $ | — | $ | 85.7 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 9 | — | 353.3 | 357.2 | -39.3 | 680.2 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 35.3 | — | 304.8 | 147.8 | — | 487.9 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 122.3 | 138.5 | -0.2 | 260.6 | ||||||||||||||||||||||
Intercompany accounts payable | 2,961.70 | 14.7 | 2,422.60 | 1,063.80 | -6,462.80 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 29.4 | — | 20.4 | 21.6 | -71.4 | — | ||||||||||||||||||||||
Other current liabilities | 32.4 | 8.2 | 144.7 | 66.8 | -21.5 | 230.6 | ||||||||||||||||||||||
Total current liabilities | 3,098.60 | 22.9 | 3,378.60 | 1,840.10 | -6,595.20 | 1,745.00 | ||||||||||||||||||||||
Long-term debt | 988.4 | 699.6 | 16.7 | 300.3 | — | 2,005.00 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 305.9 | 81 | -4.6 | 382.3 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 13.6 | 114.4 | — | 128 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 177.4 | 107.5 | — | 284.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 558.6 | 1,259.90 | -1,818.50 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 235.7 | 47.3 | — | 285.8 | ||||||||||||||||||||||
Total liabilities | 4,089.80 | 722.5 | 4,686.50 | 3,750.50 | -8,418.30 | 4,831.00 | ||||||||||||||||||||||
URS stockholders' equity | 4,008.60 | 14.1 | 5,888.30 | 1,886.40 | -7,788.80 | 4,008.60 | ||||||||||||||||||||||
Intercompany notes receivable | -574 | -672.5 | -593.7 | -49.7 | 1,889.90 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,434.60 | -658.4 | 5,294.60 | 1,836.70 | -5,898.90 | 4,008.60 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 137.9 | — | 137.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,434.60 | -658.4 | 5,294.60 | 1,974.60 | -5,898.90 | 4,146.50 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,524.40 | $ | 64.1 | $ | 9,981.10 | $ | 5,725.10 | $ | -14,317.20 | $ | 8,977.50 | ||||||||||||||||
As of December 28, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Condensed Consolidating Balance Sheets Data: | ||||||||||||||||||||||||||||
As Reported | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 14.4 | $ | — | $ | 16.3 | $ | 285.4 | $ | -1.6 | $ | 314.5 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 771.2 | 811.8 | -28.2 | 1,554.80 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 876.9 | 515.7 | -8.3 | 1,384.30 | ||||||||||||||||||||||
Less receivable allowances | — | — | -29.1 | -40.6 | — | -69.7 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,619.00 | 1,286.90 | -36.5 | 2,869.40 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,765.80 | 22.4 | 4,248.90 | 1,530.60 | -7,567.70 | — | ||||||||||||||||||||||
Deferred tax assets | 6.8 | — | 60.3 | 0.5 | — | 67.6 | ||||||||||||||||||||||
Inventory | — | — | 5.5 | 56 | — | 61.5 | ||||||||||||||||||||||
Other current assets | 38.2 | — | 65.5 | 111.3 | -10.8 | 204.2 | ||||||||||||||||||||||
Total current assets | 1,825.20 | 22.4 | 6,015.50 | 3,270.70 | -7,616.60 | 3,517.20 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,400.50 | 20.7 | 1,812.00 | 258.9 | -7,213.80 | 278.3 | ||||||||||||||||||||||
Property and equipment at cost, net | 26.9 | — | 159.7 | 500.9 | — | 687.5 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 223.5 | 468.5 | — | 692.2 | ||||||||||||||||||||||
Goodwill | — | — | 1,778.70 | 1,468.40 | — | 3,247.10 | ||||||||||||||||||||||
Other long-term assets | 22.4 | — | 231.3 | 115.3 | -4.8 | 364.2 | ||||||||||||||||||||||
Total assets | $ | 7,275.20 | $ | 43.1 | $ | 10,220.70 | $ | 6,082.70 | $ | -14,835.20 | $ | 8,786.50 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 18.9 | $ | — | $ | 10 | $ | 42.9 | $ | — | $ | 71.8 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 4.1 | — | 382.8 | 454.8 | -38.2 | 803.5 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 41.1 | — | 362.6 | 155.1 | — | 558.8 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 146.4 | 143 | -0.3 | 289.1 | ||||||||||||||||||||||
Intercompany accounts payable | 3,138.30 | 14.7 | 3,109.10 | 1,305.60 | -7,567.70 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 14.3 | — | 20 | 599.2 | -633.5 | — | ||||||||||||||||||||||
Other current liabilities | 59.4 | 8.6 | 146.3 | 74 | -10.5 | 277.8 | ||||||||||||||||||||||
Total current liabilities | 3,276.10 | 23.3 | 4,177.20 | 2,774.60 | -8,250.20 | 2,001.00 | ||||||||||||||||||||||
Long-term debt | 952.2 | 699.6 | 16.9 | 323.8 | — | 1,992.50 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 247.6 | 85.5 | -4.8 | 328.3 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 18.3 | 111.5 | — | 129.8 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 185.4 | 115.5 | — | 300.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 561.7 | 687.8 | -1,249.50 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.9 | — | 197 | 71.1 | — | 271 | ||||||||||||||||||||||
Total liabilities | 4,231.20 | 722.9 | 5,404.10 | 4,169.80 | -9,504.50 | 5,023.50 | ||||||||||||||||||||||
URS stockholders' equity | 3,621.10 | 8 | 5,400.40 | 1,805.30 | -7,213.70 | 3,621.10 | ||||||||||||||||||||||
Intercompany notes receivable | -577.1 | -687.8 | -583.8 | -34.3 | 1,883.00 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,044.00 | -679.8 | 4,816.60 | 1,771.00 | -5,330.70 | 3,621.10 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 141.9 | — | 141.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,044.00 | -679.8 | 4,816.60 | 1,912.90 | -5,330.70 | 3,763.00 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,275.20 | $ | 43.1 | $ | 10,220.70 | $ | 6,082.70 | $ | -14,835.20 | $ | 8,786.50 | ||||||||||||||||
As of December 28, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Restatement Adjustments | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | $ | 422.9 | $ | — | $ | 224.1 | $ | — | $ | -647 | $ | — | ||||||||||||||||
Goodwill | $ | — | $ | — | $ | 250.4 | $ | 224.1 | $ | — | $ | 474.5 | ||||||||||||||||
Total assets | $ | 422.9 | $ | — | $ | 474.5 | $ | 224.1 | $ | -647 | $ | 474.5 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Deferred tax liabilities | $ | — | $ | — | $ | 51.6 | $ | — | $ | — | $ | 51.6 | ||||||||||||||||
Total liabilities | $ | — | $ | — | $ | 51.6 | $ | — | $ | — | $ | 51.6 | ||||||||||||||||
URS stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total URS stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total liabilities and stockholders' equity | $ | 422.9 | $ | — | $ | 474.5 | $ | 224.1 | $ | -647 | $ | 474.5 | ||||||||||||||||
As of December 28, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Revision Adjustments | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Accounts receivable, including retentions | $ | — | $ | — | $ | 0.1 | $ | — | $ | -0.1 | $ | — | ||||||||||||||||
Net accounts receivable | $ | — | $ | — | $ | 0.1 | $ | — | $ | -0.1 | $ | — | ||||||||||||||||
Intercompany accounts receivable | $ | 27.4 | $ | — | $ | -315.8 | $ | -261.6 | $ | 550 | $ | — | ||||||||||||||||
Total current assets | $ | 27.4 | $ | — | $ | -315.7 | $ | -261.6 | $ | 549.9 | $ | — | ||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | $ | 0.1 | $ | — | $ | 0.2 | $ | -16.7 | $ | 16.4 | $ | — | ||||||||||||||||
Intangible assets, net | $ | — | $ | — | $ | -0.2 | $ | 0.2 | $ | — | $ | — | ||||||||||||||||
Other long-term assets | $ | -0.1 | $ | — | $ | — | $ | -0.2 | $ | 0.3 | $ | — | ||||||||||||||||
Total assets | $ | 27.4 | $ | — | $ | -315.7 | $ | -278.3 | $ | 566.6 | $ | — | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Accounts payable and subcontractors payable, including retentions | $ | 0.1 | $ | — | $ | -0.1 | $ | — | $ | — | $ | — | ||||||||||||||||
Accrued salaries and employee benefits | $ | -0.1 | $ | — | $ | 0.1 | $ | — | $ | — | $ | — | ||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | $ | — | $ | — | $ | -0.1 | $ | — | $ | 0.1 | $ | — | ||||||||||||||||
Intercompany accounts payable | $ | 27.4 | $ | — | $ | -315.7 | $ | -261.7 | $ | 550 | $ | — | ||||||||||||||||
Short-term intercompany notes payable | $ | — | $ | — | $ | — | $ | -577.6 | $ | 577.6 | $ | — | ||||||||||||||||
Other current liabilities | $ | 0.1 | $ | — | $ | -0.1 | $ | 4 | $ | -4 | $ | — | ||||||||||||||||
Total current liabilities | $ | 27.5 | $ | — | $ | -315.9 | $ | -835.3 | $ | 1,123.70 | $ | — | ||||||||||||||||
Deferred tax liabilities | $ | — | $ | — | $ | -0.1 | $ | 0.1 | $ | — | $ | — | ||||||||||||||||
Long-term intercompany notes payable | $ | — | $ | — | $ | — | $ | 577.6 | $ | -577.6 | $ | — | ||||||||||||||||
Other long-term liabilities | $ | -0.1 | $ | — | $ | 0.1 | $ | — | $ | — | $ | — | ||||||||||||||||
Total liabilities | $ | 27.4 | $ | — | $ | -315.9 | $ | -257.6 | $ | 546.1 | $ | — | ||||||||||||||||
Commitments and contingencies | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||
URS stockholders' equity | $ | — | $ | — | $ | 0.2 | $ | -20.7 | $ | 20.5 | $ | — | ||||||||||||||||
Total URS stockholders' equity | $ | — | $ | — | $ | 0.2 | $ | -20.7 | $ | 20.5 | $ | — | ||||||||||||||||
Total stockholders' equity | $ | — | $ | — | $ | 0.2 | $ | -20.7 | $ | 20.5 | $ | — | ||||||||||||||||
Total liabilities and stockholders' equity | $ | 27.4 | $ | — | $ | -315.7 | $ | -278.3 | $ | 566.6 | $ | — | ||||||||||||||||
As of December 28, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
As Revised and Restated | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 14.4 | $ | — | $ | 16.3 | $ | 285.4 | $ | -1.6 | $ | 314.5 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 771.3 | 811.8 | -28.3 | 1,554.80 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 876.9 | 515.7 | -8.3 | 1,384.30 | ||||||||||||||||||||||
Less receivable allowances | — | — | -29.1 | -40.6 | — | -69.7 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,619.10 | 1,286.90 | -36.6 | 2,869.40 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,793.20 | 22.4 | 3,933.10 | 1,269.00 | -7,017.70 | — | ||||||||||||||||||||||
Deferred tax assets | 6.8 | — | 60.3 | 0.5 | — | 67.6 | ||||||||||||||||||||||
Inventory | — | — | 5.5 | 56 | — | 61.5 | ||||||||||||||||||||||
Other current assets | 38.2 | — | 65.5 | 111.3 | -10.8 | 204.2 | ||||||||||||||||||||||
Total current assets | 1,852.60 | 22.4 | 5,699.80 | 3,009.10 | -7,066.70 | 3,517.20 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,823.50 | 20.7 | 2,036.30 | 242.2 | -7,844.40 | 278.3 | ||||||||||||||||||||||
Property and equipment at cost, net | 26.9 | — | 159.7 | 500.9 | — | 687.5 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 223.3 | 468.7 | — | 692.2 | ||||||||||||||||||||||
Goodwill | — | — | 2,029.10 | 1,692.50 | — | 3,721.60 | ||||||||||||||||||||||
Other long-term assets | 22.3 | — | 231.3 | 115.1 | -4.5 | 364.2 | ||||||||||||||||||||||
Total assets | $ | 7,725.50 | $ | 43.1 | $ | 10,379.50 | $ | 6,028.50 | $ | -14,915.60 | $ | 9,261.00 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 18.9 | $ | — | $ | 10 | $ | 42.9 | $ | — | $ | 71.8 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 4.2 | — | 382.7 | 454.8 | -38.2 | 803.5 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 41 | — | 362.7 | 155.1 | — | 558.8 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 146.3 | 143 | -0.2 | 289.1 | ||||||||||||||||||||||
Intercompany accounts payable | 3,165.70 | 14.7 | 2,793.40 | 1,043.90 | -7,017.70 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 14.3 | — | 20 | 21.6 | -55.9 | — | ||||||||||||||||||||||
Other current liabilities | 59.5 | 8.6 | 146.2 | 78 | -14.5 | 277.8 | ||||||||||||||||||||||
Total current liabilities | 3,303.60 | 23.3 | 3,861.30 | 1,939.30 | -7,126.50 | 2,001.00 | ||||||||||||||||||||||
Long-term debt | 952.2 | 699.6 | 16.9 | 323.8 | — | 1,992.50 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 299.1 | 85.6 | -4.8 | 379.9 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 18.3 | 111.5 | — | 129.8 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 185.4 | 115.5 | — | 300.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 561.7 | 1,265.40 | -1,827.10 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 197.1 | 71.1 | — | 271 | ||||||||||||||||||||||
Total liabilities | 4,258.60 | 722.9 | 5,139.80 | 3,912.20 | -8,958.40 | 5,075.10 | ||||||||||||||||||||||
URS stockholders' equity | 4,044.00 | 8 | 5,823.50 | 2,008.70 | -7,840.20 | 4,044.00 | ||||||||||||||||||||||
Intercompany notes receivable | -577.1 | -687.8 | -583.8 | -34.3 | 1,883.00 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,466.90 | -679.8 | 5,239.70 | 1,974.40 | -5,957.20 | 4,044.00 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 141.9 | — | 141.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,466.90 | -679.8 | 5,239.70 | 2,116.30 | -5,957.20 | 4,185.90 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,725.50 | $ | 43.1 | $ | 10,379.50 | $ | 6,028.50 | $ | -14,915.60 | $ | 9,261.00 |
EARNINGS_PER_SHARE_TABLES
EARNINGS PER SHARE (TABLES) | 6 Months Ended | ||||||||||||||
Jun. 28, 2013 | |||||||||||||||
Earnings per share reconciliation [Abstract] | ' | ||||||||||||||
Earnings per share [Table Text Block] | ' | ||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Weighted-average shares of common stock outstanding (1) | 73.8 | 74.2 | 74.1 | 74.1 | |||||||||||
Effect of dilutive stock options, restricted stock awards and units and employee stock purchase plan shares | 0.2 | 0.4 | 0.3 | 0.3 | |||||||||||
Weighted-average shares of common stock outstanding – Diluted | 74 | 74.6 | 74.4 | 74.4 | |||||||||||
Weighted-average shares of common stock outstanding is net of treasury stock. | |||||||||||||||
Earnings per share, anti-dilutive awards [Table Text Block] | ' | ||||||||||||||
June 28, | June 29, | ||||||||||||||
(In millions) | 2013 | 2012 | |||||||||||||
Anti-dilutive equity awards not included above | 0.6 | 0.7 |
ACCOUNTS_RECEIVABLE_AND_COSTS_1
ACCOUNTS RECEIVABLE AND COSTS AND ACCRUED EARNINGS IN EXCESS OF BILLINGS ON CONTRACTS (TABLES) | 6 Months Ended | |||||||||||||
Jun. 28, 2013 | ||||||||||||||
Accounts receivable and costs and accrued earnings in excess of billings on contracts [Abstract] | ' | |||||||||||||
Accounts receivable and costs and accrued earnings in excess of billings on contracts [Table Text Block] | ' | |||||||||||||
June 28, | December 28, | |||||||||||||
(In millions) | 2013 | 2012 | ||||||||||||
Accounts receivable: | ||||||||||||||
U.S. federal government | $ | 388.5 | $ | 376.2 | ||||||||||
Others | 1,080.50 | 1,178.60 | ||||||||||||
Total accounts receivable | $ | 1,469.00 | $ | 1,554.80 | ||||||||||
Unbilled Accounts Receivable: | ||||||||||||||
U.S. federal government | $ | 825.1 | $ | 892.7 | ||||||||||
Others | 882.4 | 756.5 | ||||||||||||
Total | 1,707.50 | 1,649.20 | ||||||||||||
Less: Amounts included in Other long-term assets | -376.8 | -264.9 | ||||||||||||
Unbilled Accounts Receivable | $ | 1,330.70 | $ | 1,384.30 |
INVENTORY_TABLES
INVENTORY (TABLES) | 6 Months Ended | ||||||||||
Jun. 28, 2013 | |||||||||||
Inventory [Abstract] | ' | ||||||||||
Inventory [Table Text Block] | ' | ||||||||||
June 28, | December 28, | ||||||||||
(In millions) | 2013 | 2012 | |||||||||
Raw materials | $ | 11.2 | $ | 14.2 | |||||||
Work in progress | 6.3 | 9.8 | |||||||||
Finished goods | 25.6 | 24.9 | |||||||||
Supplies | 12 | 12.6 | |||||||||
Total | $ | 55.1 | $ | 61.5 |
JOINT_VENTURES_TABLES
JOINT VENTURES (TABLES) | 6 Months Ended | ||||||||||||
Jun. 28, 2013 | |||||||||||||
Consolidated Joint Ventures [Abstract] | ' | ||||||||||||
Schedule of consolidated joint ventures [Table Text Block] | ' | ||||||||||||
June 28, | December 28, | ||||||||||||
(In millions) | 2013 | 2012 | |||||||||||
Cash and cash equivalents | $ | 75.1 | $ | 80.1 | |||||||||
Net accounts receivable | 264.6 | 282.2 | |||||||||||
Other current assets | 2.7 | 2.9 | |||||||||||
Noncurrent assets | 119 | 143.3 | |||||||||||
Total assets | $ | 461.4 | $ | 508.5 | |||||||||
Accounts and subcontractors payable | $ | 128.1 | $ | 185 | |||||||||
Billings in excess of costs and accrued earnings on contracts | 12.3 | 8.7 | |||||||||||
Accrued expenses and other | 49 | 40 | |||||||||||
Noncurrent liabilities | 10.1 | 22.7 | |||||||||||
Total liabilities | 199.5 | 256.4 | |||||||||||
Total URS equity | 124 | 110.2 | |||||||||||
Noncontrolling interests | 137.9 | 141.9 | |||||||||||
Total owners’ equity | 261.9 | 252.1 | |||||||||||
Total liabilities and owners’ equity | $ | 461.4 | $ | 508.5 | |||||||||
Unconsolidated Joint Ventures [Abstract] | ' | ||||||||||||
Schedule of unconsolidated joint ventures [Table Text Block] | ' | ||||||||||||
Unconsolidated | |||||||||||||
(In millions) | VIEs | ||||||||||||
28-Jun-13 | |||||||||||||
Current assets | $ | 694.5 | |||||||||||
Noncurrent assets | $ | 34 | |||||||||||
Current liabilities | $ | 487.8 | |||||||||||
Noncurrent liabilities | $ | 3.9 | |||||||||||
28-Dec-12 | |||||||||||||
Current assets | $ | 594.1 | |||||||||||
Noncurrent assets | $ | 23.8 | |||||||||||
Current liabilities | $ | 372.5 | |||||||||||
Noncurrent liabilities | $ | 7.8 | |||||||||||
Three months ended June 28, 2013 (1) | |||||||||||||
Revenues | $ | 565.5 | |||||||||||
Cost of revenues | $ | -507 | |||||||||||
Income from continuing operations before tax | $ | 58.5 | |||||||||||
Net income | $ | 53.8 | |||||||||||
Three months ended June 29, 2012 (1) | |||||||||||||
Revenues | $ | 380.9 | |||||||||||
Cost of revenues | $ | -332.1 | |||||||||||
Income from continuing operations before tax | $ | 48.8 | |||||||||||
Net income | $ | 46 | |||||||||||
Six months ended June 28, 2013 (1) | |||||||||||||
Revenues | $ | 1,111.90 | |||||||||||
Cost of revenues | $ | -993.7 | |||||||||||
Income from continuing operations before tax | $ | 118.2 | |||||||||||
Net income | $ | 109.7 | |||||||||||
Six months ended June 29, 2012 (1) | |||||||||||||
Revenues | $ | 744.8 | |||||||||||
Cost of revenues | $ | -632.1 | |||||||||||
Income from continuing operations before tax | $ | 112.7 | |||||||||||
Net income | $ | 104.1 | |||||||||||
Income from unconsolidated U.S. joint ventures is generally not taxable in most tax jurisdictions in the U.S. The tax expenses on our other unconsolidated joint ventures are primarily related to foreign taxes. | |||||||||||||
PROPERTY_AND_EQUIPMENT_TABLES
PROPERTY AND EQUIPMENT (TABLES) | 6 Months Ended | ||||||||||
Jun. 28, 2013 | |||||||||||
Property plant and equipment [Abstract] | ' | ||||||||||
Property and equipment [Table Text Block] | ' | ||||||||||
June 28, | December 28, | ||||||||||
(In millions) | 2013 | 2012 | |||||||||
Construction and mining equipment | $ | 250.8 | $ | 266.4 | |||||||
Computer software | 230.6 | 219.5 | |||||||||
Computer hardware | 210.7 | 198.2 | |||||||||
Vehicles and automotive equipment | 170.7 | 172.2 | |||||||||
Leasehold improvements | 141.9 | 130.1 | |||||||||
Land and buildings | 105.9 | 114.1 | |||||||||
Furniture and fixtures | 91.1 | 97.7 | |||||||||
Other equipment | 75.8 | 72.4 | |||||||||
Construction in progress | 13.8 | 15.6 | |||||||||
1,291.30 | 1,286.20 | ||||||||||
Accumulated depreciation and amortization | -644.2 | -598.7 | |||||||||
Property and equipment, net (1) | $ | 647.1 | $ | 687.5 | |||||||
The unamortized computer software costs were $72.7 million and $71.1 million, respectively, as of June 28, 2013 and December 28, 2012. | |||||||||||
ACQUISITION_TABLES
ACQUISITION (TABLES) | 6 Months Ended | ||||||||||||
Jun. 28, 2013 | |||||||||||||
Business acquisition, pro forma information [Abstract] | ' | ||||||||||||
Business acquisition, pro forma information [Table Text Block] | ' | ||||||||||||
Pro Forma | |||||||||||||
Three Months | Six Months | ||||||||||||
Unaudited | Ended | Ended | |||||||||||
(In millions, except per share data) | 29-Jun-12 | 29-Jun-12 | |||||||||||
Revenues | $ | 2,934.40 | $ | 5,866.20 | |||||||||
Net income (loss) including noncontrolling interests (1) | $ | 84.8 | $ | 191.9 | |||||||||
Net income (loss) attributable to URS (1) | $ | 59.1 | $ | 140.4 | |||||||||
Earnings (loss) per share: | |||||||||||||
Basic EPS (1) | $ | 0.8 | $ | 1.9 | |||||||||
Diluted EPS (1) | $ | 0.79 | $ | 1.89 | |||||||||
Amounts have been revised to correct errors related to foreign currency translation losses on intercompany loans and foreign currency forward contracts in the pro forma financial information previously issued for the three and six months ended June 29, 2012. The revisions increased both net income (loss) including noncontrolling interests and net income (loss) attributable to URS by $16.0 million and $8.8 million for the three- and six-month periods ended June 29, 2012, respectively, increased basic and diluted EPS by $0.22 and $0.21 for the three months ended June 29, 2012, respectively, and increased both basic and diluted EPS by $0.12 for the six-month period ended June 29, 2012. | |||||||||||||
Business acquisition, pro forma nonrecurring adjustments [Abstract] | ' | ||||||||||||
Business acquisition, pro forma nonrecurring adjustments [Table Text Block] | ' | ||||||||||||
Pro Forma | |||||||||||||
Pre-tax, nonrecurring adjustment (In millions) | Three Months Ended | Six Months Ended | |||||||||||
29-Jun-12 | June 29, 2012 (1) | ||||||||||||
Acquisition-related expenses | $ | 21.1 | $ | 28.4 | |||||||||
Included in the pro forma results for the three and six months ended June 29, 2012 is a nonrecurring adjustment related to URS and Flint acquisition-related expenses. | |||||||||||||
INDEBTEDNESS_TABLES
INDEBTEDNESS (TABLES) | 6 Months Ended | ||||||||||
Jun. 28, 2013 | |||||||||||
Debt disclosure [Abstract] | ' | ||||||||||
Schedule of debt [Table Text Block] | ' | ||||||||||
June 28, | December 28, | ||||||||||
(In millions) | 2013 | 2012 | |||||||||
Term loan, net of debt issuance costs | $ | 651.8 | $ | 666.3 | |||||||
3.85% Senior Notes (net of discount) | 399.6 | 399.5 | |||||||||
5.00% Senior Notes (net of discount) | 599.5 | 599.5 | |||||||||
7.50% Canadian Notes (including premium) | 191.9 | 203.8 | |||||||||
Revolving line of credit | 131.6 | 100.5 | |||||||||
Other indebtedness | 116.3 | 94.7 | |||||||||
Total indebtedness | 2,090.70 | 2,064.30 | |||||||||
Less: | |||||||||||
Current portion of long-term debt | 85.7 | 71.8 | |||||||||
Long-term debt | $ | 2,005.00 | $ | 1,992.50 |
BILLINGS_IN_EXCESS_OF_COSTS_AN1
BILLINGS IN EXCESS OF COSTS AND ACCRUED EARNINGS ON CONTRACTS (TABLES) | 6 Months Ended | ||||||||||
Jun. 28, 2013 | |||||||||||
Components Of Billings In Excess Of Cost And Accrued Earnings On Contracts [Abstract] | ' | ||||||||||
Billings in excess of costs and accrued earnings on contracts [Table Text Block] | ' | ||||||||||
June 28, | December 28, | ||||||||||
(In millions) | 2013 | 2012 | |||||||||
Billings in excess of costs and accrued earnings on contracts | $ | 216.1 | $ | 211.7 | |||||||
Project-related legal liabilities and other project-related reserves | 33.3 | 55.2 | |||||||||
Advance payments negotiated as a contract condition | 4.2 | 9.8 | |||||||||
Normal profit liabilities | 1 | 4.8 | |||||||||
Estimated losses on uncompleted contracts | 6 | 7.6 | |||||||||
Total | $ | 260.6 | $ | 289.1 |
EMPLOYEE_RETIREMENT_AND_POSTRE1
EMPLOYEE RETIREMENT AND POST-RETIREMENT BENEFIT PLANS (TABLES) | 6 Months Ended | ||||||||||||||||
Jun. 28, 2013 | |||||||||||||||||
Defined benefit pension plans, defined contribution plans, and defined benefit postretirement plans disclosure [Abstract] | ' | ||||||||||||||||
Schedule of net periodic pension costs and other comprehensive income [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | |||||||||||||||||
Domestic Plans | Foreign Plans | ||||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Service cost | $ | 2.2 | $ | 2 | $ | 0.1 | $ | 0.1 | |||||||||
Interest cost | 4.4 | 4.7 | 5.7 | 5.7 | |||||||||||||
Expected return on plan assets | -4.8 | -4.4 | -6 | -5.6 | |||||||||||||
Amortization of: | |||||||||||||||||
Prior service costs | -0.1 | -0.7 | — | — | |||||||||||||
Net loss | 3.9 | 2.4 | — | — | |||||||||||||
Net periodic pension costs | $ | 5.6 | $ | 4 | $ | -0.2 | $ | 0.2 | |||||||||
Six Months Ended | |||||||||||||||||
Domestic Plans | Foreign Plans | ||||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Service cost | $ | 4.4 | $ | 4 | $ | 0.2 | $ | 0.2 | |||||||||
Interest cost | 8.8 | 9.4 | 11.4 | 11.3 | |||||||||||||
Expected return on plan assets | -9.6 | -8.8 | -12 | -11.1 | |||||||||||||
Amortization of: | |||||||||||||||||
Prior service costs | -0.2 | -1.4 | — | — | |||||||||||||
Net loss | 7.8 | 4.8 | — | — | |||||||||||||
Net periodic pension costs | $ | 11.2 | $ | 8 | $ | -0.4 | $ | 0.4 | |||||||||
Schedule of post-retirement benefit plans disclosures [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest cost | $ | 0.4 | $ | 0.5 | $ | 0.8 | $ | 1 | |||||||||
Expected return on plan assets | -0.1 | -0.1 | -0.2 | -0.2 | |||||||||||||
Amortization of: | |||||||||||||||||
Net loss | 0.1 | — | 0.2 | — | |||||||||||||
Net periodic benefit costs | $ | 0.4 | $ | 0.4 | $ | 0.8 | $ | 0.8 |
STOCKHOLDERS_EQUITY_TABLES
STOCKHOLDERS' EQUITY (TABLES) | 6 Months Ended | ||||||||||||||||
Jun. 28, 2013 | |||||||||||||||||
Stockholders' equity (Tables) [Abstract] | ' | ||||||||||||||||
Dividends [Table Text Block] | ' | ||||||||||||||||
Declaration Date | Dividend Per Share | Record Date | Total Maximum Payment | Payment Date | |||||||||||||
(In millions, except per share data) | |||||||||||||||||
24-Feb-12 | $ | 0.2 | 16-Mar-12 | $ | 15.2 | 6-Apr-12 | |||||||||||
4-May-12 | $ | 0.2 | 15-Jun-12 | $ | 15.4 | 6-Jul-12 | |||||||||||
3-Aug-12 | $ | 0.2 | 14-Sep-12 | $ | 15.4 | 5-Oct-12 | |||||||||||
2-Nov-12 | $ | 0.2 | 14-Dec-12 | $ | 15.4 | 4-Jan-13 | |||||||||||
22-Feb-13 | $ | 0.21 | 15-Mar-13 | $ | 16 | 5-Apr-13 | |||||||||||
3-May-13 | $ | 0.21 | 14-Jun-13 | $ | 16 | 5-Jul-13 | |||||||||||
2-Aug-13 | $ | 0.21 | 13-Sep-13 | NA | 4-Oct-13 | ||||||||||||
NA =ot available | |||||||||||||||||
Declaration Date | Dividend Per Share | Record Date | Total Maximum Payment | Payment Date | |||||||||||||
(In millions, except per share data) | |||||||||||||||||
24-Feb-12 | $ | 0.2 | 16-Mar-12 | $ | 15.2 | 6-Apr-12 | |||||||||||
4-May-12 | $ | 0.2 | 15-Jun-12 | $ | 15.4 | 6-Jul-12 | |||||||||||
3-Aug-12 | $ | 0.2 | 14-Sep-12 | $ | 15.4 | 5-Oct-12 | |||||||||||
2-Nov-12 | $ | 0.2 | 14-Dec-12 | $ | 15.4 | 4-Jan-13 | |||||||||||
22-Feb-13 | $ | 0.21 | 15-Mar-13 | $ | 16 | 5-Apr-13 | |||||||||||
3-May-13 | $ | 0.21 | 14-Jun-13 | $ | 16 | 5-Jul-13 | |||||||||||
2-Aug-13 | $ | 0.21 | 13-Sep-13 | NA | 4-Oct-13 | ||||||||||||
Schedule of treasury stock by class [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
(In millions, except average price paid | June 28, | June 29, | June 28, | June 29, | |||||||||||||
per share) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Common stock repurchase shares | 1 | — | 2 | 1 | |||||||||||||
Average price paid per share | $ | 48.26 | $ | — | $ | 45.55 | $ | 40 | |||||||||
Cost of common stock repurchased | $ | 48.3 | $ | — | $ | 93.3 | $ | 40 | |||||||||
Stock-based compensation expenses [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 28, | June 29, | June 28, | June 29, | ||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Stock-based compensation expense: | |||||||||||||||||
Restricted stock awards and units | $ | 11.5 | $ | 9.8 | $ | 22.4 | $ | 21 | |||||||||
Employee stock purchase plan | 0.2 | 0.1 | 0.3 | 0.3 | |||||||||||||
Stock-based compensation expense | $ | 11.7 | $ | 9.9 | $ | 22.7 | $ | 21.3 | |||||||||
Stock-based compensation expense included in: | |||||||||||||||||
Cost of revenues | $ | 8.6 | $ | 7.7 | 16.9 | 16.2 | |||||||||||
General and administrative expenses | 3.1 | 2.2 | 5.8 | 5.1 | |||||||||||||
Stock-based compensation expense | $ | 11.7 | $ | 9.9 | $ | 22.7 | $ | 21.3 |
SEGMENT_AND_RELATED_INFORMATIO1
SEGMENT AND RELATED INFORMATION (TABLES) | 6 Months Ended | |||||||||||||||||||||
Jun. 28, 2013 | ||||||||||||||||||||||
Segment reporting [Abstract] | ' | |||||||||||||||||||||
Segment reporting, disclosure of entity's reportable segments [Table Text Block] | ' | |||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Revenues | ||||||||||||||||||||||
Infrastructure & Environment | $ | 977.5 | $ | 966.3 | $ | 1,910.90 | $ | 1,930.40 | ||||||||||||||
Federal Services | 559.2 | 718.2 | 1,237.40 | 1,435.30 | ||||||||||||||||||
Energy & Construction | 728.5 | 777.9 | 1,393.30 | 1,503.60 | ||||||||||||||||||
Oil & Gas (1) | 555.9 | 277.5 | 1,139.70 | 277.5 | ||||||||||||||||||
Inter-segment, eliminations and other | -29.1 | -49.2 | -86.8 | -94.6 | ||||||||||||||||||
Total revenues | $ | 2,792.00 | $ | 2,690.70 | $ | 5,594.50 | $ | 5,052.20 | ||||||||||||||
Equity in income (loss) of unconsolidated joint ventures | ||||||||||||||||||||||
Infrastructure & Environment | $ | -0.1 | $ | -1 | $ | 1 | $ | -0.1 | ||||||||||||||
Federal Services | 1.9 | 1.7 | 3.3 | 3.3 | ||||||||||||||||||
Energy & Construction | 14.9 | 15.7 | 36.6 | 41.9 | ||||||||||||||||||
Oil & Gas (1) | 1.2 | 0.6 | 1.1 | 0.6 | ||||||||||||||||||
Total equity in income of unconsolidated joint ventures | $ | 17.9 | $ | 17 | $ | 42 | $ | 45.7 | ||||||||||||||
URS operating income (loss) (2) | ||||||||||||||||||||||
Infrastructure & Environment | $ | 61.4 | $ | 62.1 | $ | 102.1 | $ | 107.6 | ||||||||||||||
Federal Services | 68.6 | 59.8 | 167.8 | 152.7 | ||||||||||||||||||
Energy & Construction | 22 | 29.6 | 34.3 | 52.4 | ||||||||||||||||||
Oil & Gas (1) | 1.9 | 3.2 | 10.1 | 3.2 | ||||||||||||||||||
Corporate (3) | -22.9 | -30.7 | -45.6 | -56.3 | ||||||||||||||||||
Total URS operating income (loss) | $ | 131 | $ | 124 | $ | 268.7 | $ | 259.6 | ||||||||||||||
Operating income (loss) | ||||||||||||||||||||||
Infrastructure & Environment | $ | 61.5 | $ | 62.6 | $ | 102.7 | $ | 108.6 | ||||||||||||||
Federal Services | 68.6 | 59.8 | 167.8 | 152.7 | ||||||||||||||||||
Energy & Construction | 36.6 | 54.8 | 63.7 | 102.9 | ||||||||||||||||||
Oil & Gas (1) | 1.6 | 3 | 9.4 | 3 | ||||||||||||||||||
Corporate (3) | -22.9 | -30.7 | -45.6 | -56.3 | ||||||||||||||||||
Total operating income (loss) | $ | 145.4 | $ | 149.5 | $ | 298 | $ | 310.9 | ||||||||||||||
Depreciation and amortization | ||||||||||||||||||||||
Infrastructure & Environment | $ | 12.4 | $ | 14.3 | $ | 24.9 | $ | 28.7 | ||||||||||||||
Federal Services | 8.8 | 9.1 | 18.1 | 18.7 | ||||||||||||||||||
Energy & Construction | 11.3 | 12.1 | 23.3 | 23.8 | ||||||||||||||||||
Oil & Gas (1) | 31.5 | 18.7 | 63.1 | 18.7 | ||||||||||||||||||
Corporate | 2.1 | 1.6 | 4.2 | 3.1 | ||||||||||||||||||
Total depreciation and amortization | $ | 66.1 | $ | 55.8 | $ | 133.6 | $ | 93 | ||||||||||||||
The operating results of Flint have been included in our consolidated results since the acquisition on May 14, 2012. | ||||||||||||||||||||||
We are providing information regarding URS operating income (loss) by segment because management uses this information to assess performance and make decisions about resource allocation. URS operating income is defined as segment operating income after reductions for pre-tax noncontrolling interests. | ||||||||||||||||||||||
Corporate includes expenses related to corporate functions and acquisition-related expenses. | ||||||||||||||||||||||
Reconciliation of other significant reconciling items from segments to consolidated [Table Text Block] | ' | |||||||||||||||||||||
Three Months Ended June 28, 2013 | ||||||||||||||||||||||
Infrastructure | Energy | Oil | ||||||||||||||||||||
& | Federal | & | & | |||||||||||||||||||
(In millions) | Environment | Services | Construction | Gas | Corporate | Consolidated | ||||||||||||||||
URS operating income (loss) | $ | 61.4 | $ | 68.6 | $ | 22 | $ | 1.9 | $ | -22.9 | $ | 131 | ||||||||||
Noncontrolling interests | 0.1 | — | 14.6 | -0.3 | — | 14.4 | ||||||||||||||||
Operating income (loss) | $ | 61.5 | $ | 68.6 | $ | 36.6 | $ | 1.6 | $ | -22.9 | $ | 145.4 | ||||||||||
Three Months Ended June 29, 2012 | ||||||||||||||||||||||
Infrastructure | Energy | Oil | ||||||||||||||||||||
& | Federal | & | & | |||||||||||||||||||
(In millions) | Environment | Services | Construction | Gas | Corporate | Consolidated | ||||||||||||||||
URS operating income (loss) | $ | 62.1 | $ | 59.8 | $ | 29.6 | $ | 3.2 | $ | -30.7 | $ | 124 | ||||||||||
Noncontrolling interests | 0.5 | — | 25.2 | -0.2 | — | 25.5 | ||||||||||||||||
Operating income (loss) | $ | 62.6 | $ | 59.8 | $ | 54.8 | $ | 3 | $ | -30.7 | $ | 149.5 | ||||||||||
Six Months Ended June 28, 2013 | ||||||||||||||||||||||
Infrastructure | Energy | Oil | ||||||||||||||||||||
& | Federal | & | & | |||||||||||||||||||
(In millions) | Environment | Services | Construction | Gas | Corporate | Consolidated | ||||||||||||||||
URS operating income (loss) | $ | 102.1 | $ | 167.8 | $ | 34.3 | $ | 10.1 | $ | -45.6 | $ | 268.7 | ||||||||||
Noncontrolling interests | 0.6 | — | 29.4 | -0.7 | — | 29.3 | ||||||||||||||||
Operating income (loss) | $ | 102.7 | $ | 167.8 | $ | 63.7 | $ | 9.4 | $ | -45.6 | $ | 298 | ||||||||||
Six Months Ended June 29, 2012 | ||||||||||||||||||||||
Infrastructure | Energy | Oil | ||||||||||||||||||||
& | Federal | & | & | |||||||||||||||||||
(In millions) | Environment | Services | Construction | Gas | Corporate | Consolidated | ||||||||||||||||
URS operating income (loss) | $ | 107.6 | $ | 152.7 | $ | 52.4 | $ | 3.2 | $ | -56.3 | $ | 259.6 | ||||||||||
Noncontrolling interests | 1 | — | 50.5 | -0.2 | — | 51.3 | ||||||||||||||||
Operating income (loss) | $ | 108.6 | $ | 152.7 | $ | 102.9 | $ | 3 | $ | -56.3 | $ | 310.9 | ||||||||||
Schedule of investments in and advances to unconsolidated joint ventures and property and equipment, net of accumulated depreciation by segment [Table Text Block] | ' | |||||||||||||||||||||
June 28, | December 28, | |||||||||||||||||||||
(In millions) | 2013 | 2012 | ||||||||||||||||||||
Infrastructure & Environment | $ | 9.3 | $ | 8.1 | ||||||||||||||||||
Federal Services | 5.1 | 5.7 | ||||||||||||||||||||
Energy & Construction | 112.1 | 124.5 | ||||||||||||||||||||
Oil & Gas | 129.7 | 140 | ||||||||||||||||||||
Total investments in and advances to unconsolidated joint ventures | $ | 256.2 | $ | 278.3 | ||||||||||||||||||
Infrastructure & Environment | $ | 137.5 | $ | 141 | ||||||||||||||||||
Federal Services | 40.8 | 36.6 | ||||||||||||||||||||
Energy & Construction | 58.1 | 60.1 | ||||||||||||||||||||
Oil & Gas | 381.4 | 422.9 | ||||||||||||||||||||
Corporate | 29.3 | 26.9 | ||||||||||||||||||||
Total property and equipment, net of accumulated depreciation | $ | 647.1 | $ | 687.5 | ||||||||||||||||||
Reconciliation of assets from segment to consolidated [Table Text Block] | ' | |||||||||||||||||||||
As Restated | ||||||||||||||||||||||
June 28, | December 28, | |||||||||||||||||||||
(In millions) | 2013 | 2012 | ||||||||||||||||||||
Infrastructure & Environment | $ | 2,175.50 | $ | 2,267.60 | ||||||||||||||||||
Federal Services | 1,559.10 | 1,642.80 | ||||||||||||||||||||
Energy & Construction | 3,208.90 | 3,253.90 | ||||||||||||||||||||
Oil & Gas | 1,823.90 | 1,904.40 | ||||||||||||||||||||
Corporate | 210.1 | 192.3 | ||||||||||||||||||||
Total assets | $ | 8,977.50 | $ | 9,261.00 | ||||||||||||||||||
Revenues from major customers [Table Text Block] | ' | |||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||||||||
(In millions, except percentages) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
The U.S. Army (1) | ||||||||||||||||||||||
Infrastructure & Environment | $ | 31.6 | $ | 43.6 | $ | 64.6 | $ | 87.4 | ||||||||||||||
Federal Services | 253.8 | 374.4 | 642.2 | 747.5 | ||||||||||||||||||
Energy & Construction | 28.4 | 25.6 | 53.2 | 50.5 | ||||||||||||||||||
Total U.S. Army | $ | 313.8 | $ | 443.6 | $ | 760 | $ | 885.4 | ||||||||||||||
Revenues from the U.S. Army as a percentage of our consolidated revenues | 11% | 16% | 14% | 18% | ||||||||||||||||||
DOE | ||||||||||||||||||||||
Infrastructure & Environment | $ | 1 | $ | 2.3 | $ | 2.1 | $ | 3.4 | ||||||||||||||
Federal Services | 6.5 | 7.2 | 10.4 | 13.1 | ||||||||||||||||||
Energy & Construction | 205.2 | 240.2 | 412 | 493.2 | ||||||||||||||||||
Total DOE | $ | 212.7 | $ | 249.7 | $ | 424.5 | $ | 509.7 | ||||||||||||||
Revenues from DOE as a percentage of our consolidated revenues | 8% | 9% | 8% | 10% | ||||||||||||||||||
Revenues from the federal market sector as a percentage of our consolidated revenues | 34% | 43% | 36% | 46% | ||||||||||||||||||
The U.S. Army includes U.S. Army Corps of Engineers. | ||||||||||||||||||||||
RECLASSIFICATIONS_OUT_OF_ACCUM1
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (TABLES) | 6 Months Ended | ||||||||||||||||
Jun. 28, 2013 | |||||||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||||||||||
Reclassifications out of accumulated other comprehensive income (loss) [Table Text Block] | ' | ||||||||||||||||
(In millions) | Pension and Post-retirement Related Adjustments | Foreign Currency Translation Adjustments | Loss on Derivative Instruments | Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Balances at March 30, 2012 | $ | -107.7 | $ | 19.1 | $ | -0.7 | $ | -89.3 | |||||||||
Other comprehensive income before reclassification | — | -34 | — | -34 | |||||||||||||
Amounts reclassified from accumulated other comprehensive income: | |||||||||||||||||
Prior service costs, net of tax (1) | -0.4 | — | — | -0.4 | |||||||||||||
Actuarial (gains) losses, net of tax (1) | 1.4 | — | — | 1.4 | |||||||||||||
Translation adjustment realized upon liquidation of foreign subsidiaries, net of tax (2) | — | 0.3 | — | 0.3 | |||||||||||||
Net current-period other comprehensive income | 1 | -33.7 | — | -32.7 | |||||||||||||
Balances at June 29, 2012 | $ | -106.7 | $ | -14.6 | $ | -0.7 | $ | -122 | |||||||||
(In millions) | Pension and Post-retirement Related Adjustments | Foreign Currency Translation Adjustments | Loss on Derivative Instruments | Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Balances at March 29, 2013 | $ | -131.5 | $ | -13.5 | $ | -0.6 | $ | -145.6 | |||||||||
Other comprehensive income before reclassification | -0.2 | -38.9 | — | -39.1 | |||||||||||||
Amounts reclassified from accumulated other comprehensive income: | |||||||||||||||||
Actuarial (gains) losses, net of tax (1) | 2.4 | — | — | 2.4 | |||||||||||||
Translation adjustment realized upon liquidation of foreign subsidiaries, net of tax (2) | — | -0.3 | — | -0.3 | |||||||||||||
Net current-period other comprehensive income | 2.2 | -39.2 | — | -37 | |||||||||||||
Balances at June 28, 2013 | $ | -129.3 | $ | -52.7 | $ | -0.6 | $ | -182.6 | |||||||||
(In millions) | Pension and Post-retirement Related Adjustments | Foreign Currency Translation Adjustments | Loss on Derivative Instruments | Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Balances at December 30, 2011 | $ | -108.8 | $ | -2 | $ | — | $ | -110.8 | |||||||||
Other comprehensive income before reclassification | 0.1 | -12.9 | -0.7 | -13.5 | |||||||||||||
Amounts reclassified from accumulated other comprehensive income: | |||||||||||||||||
Prior service costs, net of tax (1) | -0.8 | — | — | -0.8 | |||||||||||||
Actuarial (gains) losses, net of tax (1) | 2.8 | — | — | 2.8 | |||||||||||||
Translation adjustment realized upon liquidation of foreign subsidiaries, net of tax (2) | — | 0.3 | — | 0.3 | |||||||||||||
Net current-period other comprehensive income | 2.1 | -12.6 | -0.7 | -11.2 | |||||||||||||
Balances at June 29, 2012 | $ | -106.7 | $ | -14.6 | $ | -0.7 | $ | -122 | |||||||||
(In millions) | Pension and Post-retirement Related Adjustments | Foreign Currency Translation Adjustments | Loss on Derivative Instruments | Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Balances at December 28, 2012 | $ | -135.4 | $ | 22.8 | $ | -0.6 | $ | -113.2 | |||||||||
Other comprehensive income before reclassification | 1.4 | -75 | — | -73.6 | |||||||||||||
Amounts reclassified from accumulated other comprehensive income: | |||||||||||||||||
Prior service costs, net of tax (1) | -0.1 | — | — | -0.1 | |||||||||||||
Actuarial (gains) losses, net of tax (1) | 4.8 | — | — | 4.8 | |||||||||||||
Translation adjustment realized upon liquidation of foreign subsidiaries, net of tax (2) | — | -0.5 | — | -0.5 | |||||||||||||
Net current-period other comprehensive income | 6.1 | -75.5 | — | -69.4 | |||||||||||||
Balances at June 28, 2013 | $ | -129.3 | $ | -52.7 | $ | -0.6 | $ | -182.6 | |||||||||
These accumulated other comprehensive income components are included in the computation of net periodic pension costs, which were recorded in “Cost of revenues” and “General and administrative expenses” in our Condensed Consolidated Statements of Operations. See Note 12, “Employee Retirement and Post-Retirement Benefit Plans,” for more information. | |||||||||||||||||
This accumulated other comprehensive income component is reclassified into “Cost of revenues” in our Condensed Consolidated Statements of Operations. | |||||||||||||||||
CONDENSED_CONSOLIDATING_FINANC1
CONDENSED CONSOLIDATING FINANCIAL INFORMATION (TABLES) | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 28, 2013 | ||||||||||||||||||||||||||||
Condensed consolidating financial information [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of condensed balance sheet [Table Text Block] | ' | |||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET – UNAUDITED - As Restated | ||||||||||||||||||||||||||||
As of June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 36.9 | $ | — | $ | 21.4 | $ | 197.5 | $ | -21.7 | $ | 234.1 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 808.6 | 684.4 | -24 | 1,469.00 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 721.4 | 618.1 | -8.8 | 1,330.70 | ||||||||||||||||||||||
Less receivable allowances | — | — | -31 | -32.8 | — | -63.8 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,499.00 | 1,269.70 | -32.8 | 2,735.90 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,503.00 | 28.1 | 3,658.00 | 1,273.70 | -6,462.80 | — | ||||||||||||||||||||||
Deferred tax assets | 4.7 | — | 49.3 | 0.2 | — | 54.2 | ||||||||||||||||||||||
Inventory | — | — | 2.7 | 52.4 | — | 55.1 | ||||||||||||||||||||||
Other current assets | 41.3 | — | 76 | 105.1 | — | 222.4 | ||||||||||||||||||||||
Total current assets | 1,585.90 | 28.1 | 5,306.40 | 2,898.60 | -6,517.30 | 3,301.70 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,888.30 | 36 | 1,917.00 | 210.3 | -7,795.40 | 256.2 | ||||||||||||||||||||||
Property and equipment at cost, net | 29.3 | — | 160.1 | 457.7 | — | 647.1 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 205.6 | 418.7 | — | 624.5 | ||||||||||||||||||||||
Goodwill | — | — | 2,029.10 | 1,659.60 | 0.3 | 3,689.00 | ||||||||||||||||||||||
Other long-term assets | 20.7 | — | 362.9 | 80.2 | -4.8 | 459 | ||||||||||||||||||||||
Total assets | $ | 7,524.40 | $ | 64.1 | $ | 9,981.10 | $ | 5,725.10 | $ | -14,317.20 | $ | 8,977.50 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 30.8 | $ | — | $ | 10.5 | $ | 44.4 | $ | — | $ | 85.7 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 9 | — | 353.3 | 357.2 | -39.3 | 680.2 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 35.3 | — | 304.8 | 147.8 | — | 487.9 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 122.3 | 138.5 | -0.2 | 260.6 | ||||||||||||||||||||||
Intercompany accounts payable | 2,961.70 | 14.7 | 2,422.60 | 1,063.80 | -6,462.80 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 29.4 | — | 20.4 | 21.6 | -71.4 | — | ||||||||||||||||||||||
Other current liabilities | 32.4 | 8.2 | 144.7 | 66.8 | -21.5 | 230.6 | ||||||||||||||||||||||
Total current liabilities | 3,098.60 | 22.9 | 3,378.60 | 1,840.10 | -6,595.20 | 1,745.00 | ||||||||||||||||||||||
Long-term debt | 988.4 | 699.6 | 16.7 | 300.3 | — | 2,005.00 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 305.9 | 81 | -4.6 | 382.3 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 13.6 | 114.4 | — | 128 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 177.4 | 107.5 | — | 284.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 558.6 | 1,259.90 | -1,818.50 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 235.7 | 47.3 | — | 285.8 | ||||||||||||||||||||||
Total liabilities | 4,089.80 | 722.5 | 4,686.50 | 3,750.50 | -8,418.30 | 4,831.00 | ||||||||||||||||||||||
URS stockholders' equity | 4,008.60 | 14.1 | 5,888.30 | 1,886.40 | -7,788.80 | 4,008.60 | ||||||||||||||||||||||
Intercompany notes receivable | -574 | -672.5 | -593.7 | -49.7 | 1,889.90 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,434.60 | -658.4 | 5,294.60 | 1,836.70 | -5,898.90 | 4,008.60 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 137.9 | — | 137.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,434.60 | -658.4 | 5,294.60 | 1,974.60 | -5,898.90 | 4,146.50 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,524.40 | $ | 64.1 | $ | 9,981.10 | $ | 5,725.10 | $ | -14,317.20 | $ | 8,977.50 | ||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET – As Revised and Restated | ||||||||||||||||||||||||||||
(in millions) | As of December 28, 2012 | |||||||||||||||||||||||||||
Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | |||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 14.4 | $ | — | $ | 16.3 | $ | 285.4 | $ | -1.6 | $ | 314.5 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 771.3 | 811.8 | -28.3 | 1,554.80 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 876.9 | 515.7 | -8.3 | 1,384.30 | ||||||||||||||||||||||
Less receivable allowances | — | — | -29.1 | -40.6 | — | -69.7 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,619.10 | 1,286.90 | -36.6 | 2,869.40 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,793.20 | 22.4 | 3,933.10 | 1,269.00 | -7,017.70 | — | ||||||||||||||||||||||
Deferred tax assets | 6.8 | — | 60.3 | 0.5 | — | 67.6 | ||||||||||||||||||||||
Inventory | — | — | 5.5 | 56 | — | 61.5 | ||||||||||||||||||||||
Other current assets | 38.2 | — | 65.5 | 111.3 | -10.8 | 204.2 | ||||||||||||||||||||||
Total current assets | 1,852.60 | 22.4 | 5,699.80 | 3,009.10 | -7,066.70 | 3,517.20 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,823.50 | 20.7 | 2,036.30 | 242.2 | -7,844.40 | 278.3 | ||||||||||||||||||||||
Property and equipment at cost, net | 26.9 | — | 159.7 | 500.9 | — | 687.5 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 223.3 | 468.7 | — | 692.2 | ||||||||||||||||||||||
Goodwill | — | — | 2,029.10 | 1,692.50 | — | 3,721.60 | ||||||||||||||||||||||
Other long-term assets | 22.3 | — | 231.3 | 115.1 | -4.5 | 364.2 | ||||||||||||||||||||||
Total assets | $ | 7,725.50 | $ | 43.1 | $ | 10,379.50 | $ | 6,028.50 | $ | -14,915.60 | $ | 9,261.00 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 18.9 | $ | — | $ | 10 | $ | 42.9 | $ | — | $ | 71.8 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 4.2 | — | 382.7 | 454.8 | -38.2 | 803.5 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 41 | — | 362.7 | 155.1 | — | 558.8 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 146.3 | 143 | -0.2 | 289.1 | ||||||||||||||||||||||
Intercompany accounts payable | 3,165.70 | 14.7 | 2,793.40 | 1,043.90 | -7,017.70 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 14.3 | — | 20 | 21.6 | -55.9 | — | ||||||||||||||||||||||
Other current liabilities | 59.5 | 8.6 | 146.2 | 78 | -14.5 | 277.8 | ||||||||||||||||||||||
Total current liabilities | 3,303.60 | 23.3 | 3,861.30 | 1,939.30 | -7,126.50 | 2,001.00 | ||||||||||||||||||||||
Long-term debt | 952.2 | 699.6 | 16.9 | 323.8 | — | 1,992.50 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 299.1 | 85.6 | -4.8 | 379.9 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 18.3 | 111.5 | — | 129.8 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 185.4 | 115.5 | — | 300.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 561.7 | 1,265.40 | -1,827.10 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 197.1 | 71.1 | — | 271 | ||||||||||||||||||||||
Total liabilities | 4,258.60 | 722.9 | 5,139.80 | 3,912.20 | -8,958.40 | 5,075.10 | ||||||||||||||||||||||
URS stockholders' equity | 4,044.00 | 8 | 5,823.50 | 2,008.70 | -7,840.20 | 4,044.00 | ||||||||||||||||||||||
Intercompany notes receivable | -577.1 | -687.8 | -583.8 | -34.3 | 1,883.00 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,466.90 | -679.8 | 5,239.70 | 1,974.40 | -5,957.20 | 4,044.00 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 141.9 | — | 141.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,466.90 | -679.8 | 5,239.70 | 2,116.30 | -5,957.20 | 4,185.90 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,725.50 | $ | 43.1 | $ | 10,379.50 | $ | 6,028.50 | $ | -14,915.60 | $ | 9,261.00 | ||||||||||||||||
Schedule of condensed income statement [Table Text Block] | ' | |||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS – UNAUDITED | ||||||||||||||||||||||||||||
For the Three Months Ended June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 1,655.60 | $ | 1,223.60 | $ | -87.2 | $ | 2,792.00 | ||||||||||||||||
Cost of revenues | — | — | -1,535.60 | -1,193.20 | 87.2 | -2,641.60 | ||||||||||||||||||||||
General and administrative expenses | -23.8 | — | — | 0.9 | — | -22.9 | ||||||||||||||||||||||
Equity in income (loss) in subsidiaries | 66.3 | 7.7 | 2.7 | -4.8 | -71.9 | — | ||||||||||||||||||||||
Equity in income of unconsolidated joint ventures | — | — | 1.6 | 16.3 | — | 17.9 | ||||||||||||||||||||||
Intercompany royalty and general and administrative charges | 31.3 | — | -25.7 | -5.6 | — | — | ||||||||||||||||||||||
Operating income (loss) | 73.8 | 7.7 | 98.6 | 37.2 | -71.9 | 145.4 | ||||||||||||||||||||||
Interest expense | -8 | -8.6 | — | -4.9 | — | -21.5 | ||||||||||||||||||||||
Intercompany interest income | 2.3 | 0.9 | 8.9 | 0.4 | -12.5 | — | ||||||||||||||||||||||
Intercompany interest expense | -0.2 | — | -2.5 | -9.8 | 12.5 | — | ||||||||||||||||||||||
Other income (expenses) | — | — | — | -3.3 | — | -3.3 | ||||||||||||||||||||||
Income (loss) before income taxes | 67.9 | — | 105 | 19.6 | -71.9 | 120.6 | ||||||||||||||||||||||
Income tax benefit (expense) | -0.6 | 2.9 | -38.7 | -2.5 | — | -38.9 | ||||||||||||||||||||||
Net income (loss) including noncontrolling interests | 67.3 | 2.9 | 66.3 | 17.1 | -71.9 | 81.7 | ||||||||||||||||||||||
Noncontrolling interests in income of consolidated subsidiaries | — | — | — | -14.4 | — | -14.4 | ||||||||||||||||||||||
Net income (loss) attributable to URS | $ | 67.3 | $ | 2.9 | $ | 66.3 | $ | 2.7 | $ | -71.9 | $ | 67.3 | ||||||||||||||||
Comprehensive income (loss) attributable to URS | $ | 30.3 | $ | 2.9 | $ | 30.3 | $ | -35.6 | $ | 2.4 | $ | 30.3 | ||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS – UNAUDITED | ||||||||||||||||||||||||||||
For the Three Months Ended June 29, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 1,728.90 | $ | 1,060.40 | $ | -98.6 | $ | 2,690.70 | ||||||||||||||||
Cost of revenues | — | — | -1,616.50 | -1,009.60 | 98.6 | -2,527.50 | ||||||||||||||||||||||
General and administrative expenses | -18.1 | — | — | -1.3 | — | -19.4 | ||||||||||||||||||||||
Acquisition-related expenses | -2.6 | — | — | -8.7 | — | -11.3 | ||||||||||||||||||||||
Equity in income (loss) in subsidiaries | 54.3 | 4.4 | 0.9 | -2.6 | -57 | — | ||||||||||||||||||||||
Equity in income of unconsolidated joint ventures | — | — | 4.3 | 12.7 | — | 17 | ||||||||||||||||||||||
Intercompany royalty and general and administrative charges | 35.3 | — | -31.6 | -3.7 | — | — | ||||||||||||||||||||||
Operating income (loss) | 68.9 | 4.4 | 86 | 47.2 | -57 | 149.5 | ||||||||||||||||||||||
Interest expense | -13.1 | -4.7 | -0.2 | -2.7 | — | -20.7 | ||||||||||||||||||||||
Intercompany interest income | 2 | 0.5 | 4 | 0.5 | -7 | — | ||||||||||||||||||||||
Intercompany interest expense | -0.3 | — | -1.5 | -5.2 | 7 | — | ||||||||||||||||||||||
Other income (expenses) | -2.8 | — | — | -6.4 | — | -9.2 | ||||||||||||||||||||||
Income (loss) before income taxes | 54.7 | 0.2 | 88.3 | 33.4 | -57 | 119.6 | ||||||||||||||||||||||
Income tax benefit (expense) | -1.1 | 1.6 | -34 | -7 | — | -40.5 | ||||||||||||||||||||||
Net income (loss) including noncontrolling interests | 53.6 | 1.8 | 54.3 | 26.4 | -57 | 79.1 | ||||||||||||||||||||||
Noncontrolling interests in income of consolidated subsidiaries | — | — | — | -25.5 | — | -25.5 | ||||||||||||||||||||||
Net income (loss) attributable to URS | $ | 53.6 | $ | 1.8 | $ | 54.3 | $ | 0.9 | $ | -57 | $ | 53.6 | ||||||||||||||||
Comprehensive income (loss) attributable to URS | $ | 20.9 | $ | 1.8 | $ | 22 | $ | -32.8 | $ | 9 | $ | 20.9 | ||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS – UNAUDITED | ||||||||||||||||||||||||||||
For the Six Months Ended June 28, 2013 | ||||||||||||||||||||||||||||
(In millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 3,327.00 | $ | 2,435.10 | $ | -167.6 | $ | 5,594.50 | ||||||||||||||||
Cost of revenues | — | — | -3,084.80 | -2,375.70 | 167.6 | -5,292.90 | ||||||||||||||||||||||
General and administrative expense | -46 | — | — | 0.4 | — | -45.6 | ||||||||||||||||||||||
Equity in income (loss) in subsidiaries | 132.2 | 15.4 | 9 | -9.3 | -147.3 | — | ||||||||||||||||||||||
Equity in income of unconsolidated joint ventures | — | — | 4.7 | 37.3 | — | 42 | ||||||||||||||||||||||
Intercompany royalty and general and administrative charges | 68.7 | — | -58.7 | -10 | — | — | ||||||||||||||||||||||
Operating income (loss) | 154.9 | 15.4 | 197.2 | 77.8 | -147.3 | 298 | ||||||||||||||||||||||
Interest expense | -15.9 | -16.7 | -0.4 | -9.6 | — | -42.6 | ||||||||||||||||||||||
Intercompany interest income | 4.9 | 1.8 | 17.9 | 0.7 | -25.3 | — | ||||||||||||||||||||||
Intercompany interest expense | -0.5 | — | -5 | -19.8 | 25.3 | — | ||||||||||||||||||||||
Other income (expense) | — | — | — | -5.8 | — | -5.8 | ||||||||||||||||||||||
Income (loss) before income taxes | 143.4 | 0.5 | 209.7 | 43.3 | -147.3 | 249.6 | ||||||||||||||||||||||
Income tax benefit (expense) | -4.2 | 5.6 | -77.5 | -5 | — | -81.1 | ||||||||||||||||||||||
Net income (loss) including noncontrolling interests | 139.2 | 6.1 | 132.2 | 38.3 | -147.3 | 168.5 | ||||||||||||||||||||||
Noncontrolling interests in income of consolidated subsidiaries | — | — | — | -29.3 | — | -29.3 | ||||||||||||||||||||||
Net income (loss) attributable to URS | $ | 139.2 | $ | 6.1 | $ | 132.2 | $ | 9 | $ | -147.3 | $ | 139.2 | ||||||||||||||||
Comprehensive income (loss) attributable to URS | $ | 69.8 | $ | 6.1 | $ | 66.6 | $ | -66.7 | $ | -6 | $ | 69.8 | ||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS – UNAUDITED | ||||||||||||||||||||||||||||
For the Six Months Ended June 29, 2012 | ||||||||||||||||||||||||||||
(In millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 3,443.20 | $ | 1,816.00 | $ | -207 | $ | 5,052.20 | ||||||||||||||||
Cost of revenues | — | — | -3,209.50 | -1,728.20 | 207 | -4,730.70 | ||||||||||||||||||||||
General and administrative expense | -38.5 | — | — | -0.9 | — | -39.4 | ||||||||||||||||||||||
Acquisition-related expense | -8.2 | — | — | -8.7 | — | -16.9 | ||||||||||||||||||||||
Equity in income (loss) in subsidiaries | 131.2 | 4.4 | 31.1 | -2.6 | -164.1 | — | ||||||||||||||||||||||
Equity in income of unconsolidated joint ventures | — | — | 6.4 | 39.3 | — | 45.7 | ||||||||||||||||||||||
Intercompany royalty and general and administrative charges | 73.1 | — | -66 | -7.1 | — | — | ||||||||||||||||||||||
Operating income (loss) | 157.6 | 4.4 | 205.2 | 107.8 | -164.1 | 310.9 | ||||||||||||||||||||||
Interest expense | -22.4 | -4.7 | -0.5 | -2.9 | — | -30.5 | ||||||||||||||||||||||
Intercompany interest income | 2.6 | 0.5 | 4.5 | 1.8 | -9.4 | — | ||||||||||||||||||||||
Intercompany interest expense | -0.8 | — | -2.4 | -6.2 | 9.4 | — | ||||||||||||||||||||||
Other income (expense) | -0.3 | — | — | -6.4 | — | -6.7 | ||||||||||||||||||||||
Income (loss) before income taxes | 136.7 | 0.2 | 206.8 | 94.1 | -164.1 | 273.7 | ||||||||||||||||||||||
Income tax benefit (expense) | -3.4 | 1.6 | -75.6 | -11.7 | — | -89.1 | ||||||||||||||||||||||
Net income (loss) including noncontrolling interests | 133.3 | 1.8 | 131.2 | 82.4 | -164.1 | 184.6 | ||||||||||||||||||||||
Noncontrolling interests in income of consolidated subsidiaries | — | — | — | -51.3 | — | -51.3 | ||||||||||||||||||||||
Net income (loss) attributable to URS | $ | 133.3 | $ | 1.8 | $ | 131.2 | $ | 31.1 | $ | -164.1 | $ | 133.3 | ||||||||||||||||
Comprehensive income (loss) attributable to URS | $ | 122.1 | $ | 1.8 | $ | 122.6 | $ | 22.5 | $ | -146.9 | $ | 122.1 | ||||||||||||||||
Schedule of condensed cash flow statement [Table Text Block] | ' | |||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS – UNAUDITED | ||||||||||||||||||||||||||||
For the Six Months Ended June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Net cash from operating activities | $ | -89.9 | $ | 1.9 | $ | 174 | $ | 5.1 | $ | -0.8 | $ | 90.3 | ||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||
Proceeds from disposal of property and equipment | — | — | 0.4 | 25.6 | — | 26 | ||||||||||||||||||||||
Investments in unconsolidated joint ventures | — | — | -0.1 | — | — | -0.1 | ||||||||||||||||||||||
Changes in restricted cash | — | — | — | 1.7 | — | 1.7 | ||||||||||||||||||||||
Capital expenditures, less equipment purchased through capital leases and equipment notes | -3.1 | — | -15.4 | -27.4 | — | -45.9 | ||||||||||||||||||||||
Investment in intercompany notes receivable | — | — | — | -15 | 15 | — | ||||||||||||||||||||||
Receipts from intercompany notes receivable | — | 15.3 | — | — | -15.3 | — | ||||||||||||||||||||||
Other intercompany investing activities | 393.7 | -17.2 | 306.5 | -2.4 | -680.6 | — | ||||||||||||||||||||||
Net cash from investing activities | 390.6 | -1.9 | 291.4 | -17.5 | -680.9 | -18.3 | ||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||
Payments on long-term debt | — | — | -2.2 | -0.1 | — | -2.3 | ||||||||||||||||||||||
Borrowings from revolving line of credit | 814.5 | — | — | 43.9 | — | 858.4 | ||||||||||||||||||||||
Payments on revolving line of credit | -754.5 | — | — | -68.1 | — | -822.6 | ||||||||||||||||||||||
Net borrowings (payments) under foreign lines of credit and short-term notes | -15.6 | — | -0.1 | 1.1 | — | -14.6 | ||||||||||||||||||||||
Net change in overdrafts | — | — | 5 | 0.9 | -19.3 | -13.4 | ||||||||||||||||||||||
Payments on capital lease obligations | -0.4 | — | -2.3 | -6.4 | — | -9.1 | ||||||||||||||||||||||
Excess tax benefits from stock-based compensation | 1.6 | — | — | — | — | 1.6 | ||||||||||||||||||||||
Proceeds from employee stock purchases and exercises of stock options | 13.3 | — | — | — | — | 13.3 | ||||||||||||||||||||||
Distributions to noncontrolling interests | — | — | — | -31.7 | — | -31.7 | ||||||||||||||||||||||
Dividends paid | -31.4 | — | — | — | — | -31.4 | ||||||||||||||||||||||
Repurchases of common stock | -93.3 | — | — | — | — | -93.3 | ||||||||||||||||||||||
Intercompany notes borrowings | 15 | — | — | — | -15 | — | ||||||||||||||||||||||
Intercompany notes repayments | — | — | — | -15.3 | 15.3 | — | ||||||||||||||||||||||
Other intercompany financing activities | -227.4 | — | -460.7 | 7.5 | 680.6 | — | ||||||||||||||||||||||
Net cash from financing activities | -278.2 | — | -460.3 | -68.2 | 661.6 | -145.1 | ||||||||||||||||||||||
Net change in cash and cash equivalents | 22.5 | — | 5.1 | -80.6 | -20.1 | -73.1 | ||||||||||||||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents | — | — | — | -7.3 | — | -7.3 | ||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 14.4 | — | 16.3 | 285.4 | -1.6 | 314.5 | ||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 36.9 | $ | — | $ | 21.4 | $ | 197.5 | $ | -21.7 | $ | 234.1 | ||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS – UNAUDITED | ||||||||||||||||||||||||||||
For the Six Months Ended June 29, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Net cash from operating activities | $ | -28.5 | $ | — | $ | -117.9 | $ | 94.1 | $ | 72.6 | $ | 20.3 | ||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||||
Payments for business acquisitions, net of cash acquired | — | — | — | -1,345.70 | — | -1,345.70 | ||||||||||||||||||||||
Proceeds from disposal of property and equipment | — | — | 1 | 12 | — | 13 | ||||||||||||||||||||||
Payments in settlement of foreign currency forward contracts | -1,260.60 | — | — | — | — | -1,260.60 | ||||||||||||||||||||||
Receipts in settlement of foreign currency forward contracts | 1,260.30 | — | — | — | — | 1,260.30 | ||||||||||||||||||||||
Investments in unconsolidated joint ventures | — | — | -0.9 | -1.1 | — | -2 | ||||||||||||||||||||||
Capital expenditures, less equipment purchased through capital leases and equipment notes | -2.7 | — | -22.8 | -23.5 | — | -49 | ||||||||||||||||||||||
Investments in intercompany notes receivable | -555 | -800 | -555 | — | 1,910.00 | — | ||||||||||||||||||||||
Receipts from intercompany notes receivable | 97.8 | — | — | 30 | -127.8 | — | ||||||||||||||||||||||
Other intercompany investing activities | -696 | — | -600.5 | -698.7 | 1,995.20 | — | ||||||||||||||||||||||
Net cash from investing activities | -1,156.20 | -800 | -1,178.20 | -2,027.00 | 3,777.40 | -1,384.00 | ||||||||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||||||
Borrowings from long-term debt | 198.9 | 800 | — | — | — | 998.9 | ||||||||||||||||||||||
Payments on long-term debt | — | — | -3.1 | — | — | -3.1 | ||||||||||||||||||||||
Borrowings from revolving line of credit | 560 | — | — | — | — | 560 | ||||||||||||||||||||||
Payments on revolving line of credit | -263.6 | — | — | — | — | -263.6 | ||||||||||||||||||||||
Net payments under foreign lines of credit and short-term notes | -0.4 | — | -0.1 | -6.1 | — | -6.6 | ||||||||||||||||||||||
Net change in overdrafts | -26.4 | — | 54.6 | 2.6 | — | 30.8 | ||||||||||||||||||||||
Payments on capital lease obligations | -0.3 | — | -2.6 | -2.1 | — | -5 | ||||||||||||||||||||||
Payments of debt issuance costs | -8.8 | — | — | — | — | -8.8 | ||||||||||||||||||||||
Proceeds from employee stock purchases and exercises of stock options | 6.2 | — | — | — | — | 6.2 | ||||||||||||||||||||||
Distributions to noncontrolling interests | — | — | — | -35.2 | — | -35.2 | ||||||||||||||||||||||
Contributions and advances from noncontrolling interests | — | — | 0.1 | 2.1 | — | 2.2 | ||||||||||||||||||||||
Dividends paid | -14.9 | — | — | — | — | -14.9 | ||||||||||||||||||||||
Repurchases of common stock | -40 | — | — | — | — | -40 | ||||||||||||||||||||||
Intercompany notes borrowings | — | — | 555 | 1,355.00 | -1,910.00 | — | ||||||||||||||||||||||
Intercompany notes repayments | -30 | — | — | -97.8 | 127.8 | — | ||||||||||||||||||||||
Other intercompany financing activities | 647 | — | 690.6 | 657.6 | -1,995.20 | — | ||||||||||||||||||||||
Net cash from financing activities | 1,027.70 | 800 | 1,294.50 | 1,876.10 | -3,777.40 | 1,220.90 | ||||||||||||||||||||||
Net change in cash and cash equivalents | -157 | — | -1.6 | -56.8 | 72.6 | -142.8 | ||||||||||||||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents | — | — | — | -5.4 | — | -5.4 | ||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 193.9 | — | 24.4 | 294.4 | -76.7 | 436 | ||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 36.9 | $ | — | $ | 22.8 | $ | 232.2 | $ | -4.1 | $ | 287.8 | ||||||||||||||||
Revision of Previously Issued Financial Statements [Abstract] | ' | |||||||||||||||||||||||||||
Revision of Previously Issued Financial Statements [Table Text Block] | ' | |||||||||||||||||||||||||||
As Reported | Adjustment | As Restated | ||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
Consolidated Balance Sheet Data: | ||||||||||||||||||||||||||||
Balance as of June 28, 2013 | ||||||||||||||||||||||||||||
Goodwill | $ | 3,214.50 | $ | 474.5 | $ | 3,689.00 | ||||||||||||||||||||||
Total assets | $ | 8,503.00 | $ | 474.5 | $ | 8,977.50 | ||||||||||||||||||||||
Deferred tax liabilities | $ | 330.7 | $ | 51.6 | $ | 382.3 | ||||||||||||||||||||||
Total liabilities | $ | 4,779.40 | $ | 51.6 | $ | 4,831.00 | ||||||||||||||||||||||
Retained earnings | $ | 1,331.60 | $ | 422.9 | $ | 1,754.50 | ||||||||||||||||||||||
Total URS stockholders' equity | $ | 3,585.70 | $ | 422.9 | $ | 4,008.60 | ||||||||||||||||||||||
Total stockholders' equity | $ | 3,723.60 | $ | 422.9 | $ | 4,146.50 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 8,503.00 | $ | 474.5 | $ | 8,977.50 | ||||||||||||||||||||||
Balance as of December 28, 2012 | ||||||||||||||||||||||||||||
Goodwill | $ | 3,247.10 | $ | 474.5 | $ | 3,721.60 | ||||||||||||||||||||||
Total assets | $ | 8,786.50 | $ | 474.5 | $ | 9,261.00 | ||||||||||||||||||||||
Deferred tax liabilities | $ | 328.3 | $ | 51.6 | $ | 379.9 | ||||||||||||||||||||||
Total liabilities | $ | 5,023.50 | $ | 51.6 | $ | 5,075.10 | ||||||||||||||||||||||
Retained earnings | $ | 1,224.40 | $ | 422.9 | $ | 1,647.30 | ||||||||||||||||||||||
Total URS stockholders' equity | $ | 3,621.10 | $ | 422.9 | $ | 4,044.00 | ||||||||||||||||||||||
Total stockholders' equity | $ | 3,763.00 | $ | 422.9 | $ | 4,185.90 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 8,786.50 | $ | 474.5 | $ | 9,261.00 | ||||||||||||||||||||||
Consolidated Statement of Changes in Stockholders' Equity Data: | ||||||||||||||||||||||||||||
Balance as of December 30, 2011 | ||||||||||||||||||||||||||||
Retained earnings | $ | 975.2 | $ | 422.9 | $ | 1,398.10 | ||||||||||||||||||||||
Total URS stockholders' equity | $ | 3,377.20 | $ | 422.9 | $ | 3,800.10 | ||||||||||||||||||||||
Total stockholders' equity | $ | 3,484.40 | $ | 422.9 | $ | 3,907.30 | ||||||||||||||||||||||
For the Six Months Ended June 29, 2012 | ||||||||||||||||||||||||||||
Retained earnings | $ | 1,077.90 | $ | 422.9 | $ | 1,500.80 | ||||||||||||||||||||||
Total URS stockholders' equity | $ | 3,441.70 | $ | 422.9 | $ | 3,864.60 | ||||||||||||||||||||||
Total stockholders' equity | $ | 3,569.50 | $ | 422.9 | $ | 3,992.40 | ||||||||||||||||||||||
Balance as of December 28, 2012 | ||||||||||||||||||||||||||||
Retained earnings | $ | 1,224.40 | $ | 422.9 | $ | 1,647.30 | ||||||||||||||||||||||
Total URS stockholders' equity | $ | 3,621.10 | $ | 422.9 | $ | 4,044.00 | ||||||||||||||||||||||
Total stockholders' equity | $ | 3,763.00 | $ | 422.9 | $ | 4,185.90 | ||||||||||||||||||||||
For the Six Months Ended June 28, 2013 | ||||||||||||||||||||||||||||
Retained earnings | $ | 1,331.60 | $ | 422.9 | $ | 1,754.50 | ||||||||||||||||||||||
Total URS stockholders' equity | $ | 3,585.70 | $ | 422.9 | $ | 4,008.60 | ||||||||||||||||||||||
Total stockholders' equity | $ | 3,723.60 | $ | 422.9 | $ | 4,146.50 | ||||||||||||||||||||||
As of June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Condensed Consolidating Balance Sheets Data: | ||||||||||||||||||||||||||||
As Reported | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 36.9 | $ | — | $ | 21.4 | $ | 197.5 | $ | -21.7 | $ | 234.1 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 808.6 | 684.4 | -24 | 1,469.00 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 721.4 | 618.1 | -8.8 | 1,330.70 | ||||||||||||||||||||||
Less receivable allowances | — | — | -31 | -32.8 | — | -63.8 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,499.00 | 1,269.70 | -32.8 | 2,735.90 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,503.00 | 28.1 | 3,658.00 | 1,273.70 | -6,462.80 | — | ||||||||||||||||||||||
Deferred tax assets | 4.7 | — | 49.3 | 0.2 | — | 54.2 | ||||||||||||||||||||||
Inventory | — | — | 2.7 | 52.4 | — | 55.1 | ||||||||||||||||||||||
Other current assets | 41.3 | — | 76 | 105.1 | — | 222.4 | ||||||||||||||||||||||
Total current assets | 1,585.90 | 28.1 | 5,306.40 | 2,898.60 | -6,517.30 | 3,301.70 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,465.40 | 36 | 1,692.90 | 210.3 | -7,148.40 | 256.2 | ||||||||||||||||||||||
Property and equipment at cost, net | 29.3 | — | 160.1 | 457.7 | — | 647.1 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 205.6 | 418.7 | — | 624.5 | ||||||||||||||||||||||
Goodwill | — | — | 1,778.70 | 1,435.50 | 0.3 | 3,214.50 | ||||||||||||||||||||||
Other long-term assets | 20.7 | — | 362.9 | 80.2 | -4.8 | 459 | ||||||||||||||||||||||
Total assets | $ | 7,101.50 | $ | 64.1 | $ | 9,506.60 | $ | 5,501.00 | $ | -13,670.20 | $ | 8,503.00 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 30.8 | $ | — | $ | 10.5 | $ | 44.4 | $ | — | $ | 85.7 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 9 | — | 353.3 | 357.2 | -39.3 | 680.2 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 35.3 | — | 304.8 | 147.8 | — | 487.9 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 122.3 | 138.5 | -0.2 | 260.6 | ||||||||||||||||||||||
Intercompany accounts payable | 2,961.70 | 14.7 | 2,422.60 | 1,063.80 | -6,462.80 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 29.4 | — | 20.4 | 21.6 | -71.4 | — | ||||||||||||||||||||||
Other current liabilities | 32.4 | 8.2 | 144.7 | 66.8 | -21.5 | 230.6 | ||||||||||||||||||||||
Total current liabilities | 3,098.60 | 22.9 | 3,378.60 | 1,840.10 | -6,595.20 | 1,745.00 | ||||||||||||||||||||||
Long-term debt | 988.4 | 699.6 | 16.7 | 300.3 | — | 2,005.00 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 254.3 | 81 | -4.6 | 330.7 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 13.6 | 114.4 | — | 128 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 177.4 | 107.5 | — | 284.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 558.6 | 1,259.90 | -1,818.50 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 235.7 | 47.3 | — | 285.8 | ||||||||||||||||||||||
Total liabilities | 4,089.80 | 722.5 | 4,634.90 | 3,750.50 | -8,418.30 | 4,779.40 | ||||||||||||||||||||||
URS stockholders' equity | 3,585.70 | 14.1 | 5,465.40 | 1,662.30 | -7,141.80 | 3,585.70 | ||||||||||||||||||||||
Intercompany notes receivable | -574 | -672.5 | -593.7 | -49.7 | 1,889.90 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,011.70 | -658.4 | 4,871.70 | 1,612.60 | -5,251.90 | 3,585.70 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 137.9 | — | 137.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,011.70 | -658.4 | 4,871.70 | 1,750.50 | -5,251.90 | 3,723.60 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,101.50 | $ | 64.1 | $ | 9,506.60 | $ | 5,501.00 | $ | -13,670.20 | $ | 8,503.00 | ||||||||||||||||
As of June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Restatement Adjustments | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | $ | 422.9 | $ | — | $ | 224.1 | $ | — | $ | -647 | $ | — | ||||||||||||||||
Goodwill | $ | — | $ | — | $ | 250.4 | $ | 224.1 | $ | — | $ | 474.5 | ||||||||||||||||
Total assets | $ | 422.9 | $ | — | $ | 474.5 | $ | 224.1 | $ | -647 | $ | 474.5 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Deferred tax liabilities | $ | — | $ | — | $ | 51.6 | $ | — | $ | — | $ | 51.6 | ||||||||||||||||
Total liabilities | $ | — | $ | — | $ | 51.6 | $ | — | $ | — | $ | 51.6 | ||||||||||||||||
URS stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total URS stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total liabilities and stockholders' equity | $ | 422.9 | $ | — | $ | 474.5 | $ | 224.1 | $ | -647 | $ | 474.5 | ||||||||||||||||
As of June 28, 2013 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
As Restated | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 36.9 | $ | — | $ | 21.4 | $ | 197.5 | $ | -21.7 | $ | 234.1 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 808.6 | 684.4 | -24 | 1,469.00 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 721.4 | 618.1 | -8.8 | 1,330.70 | ||||||||||||||||||||||
Less receivable allowances | — | — | -31 | -32.8 | — | -63.8 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,499.00 | 1,269.70 | -32.8 | 2,735.90 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,503.00 | 28.1 | 3,658.00 | 1,273.70 | -6,462.80 | — | ||||||||||||||||||||||
Deferred tax assets | 4.7 | — | 49.3 | 0.2 | — | 54.2 | ||||||||||||||||||||||
Inventory | — | — | 2.7 | 52.4 | — | 55.1 | ||||||||||||||||||||||
Other current assets | 41.3 | — | 76 | 105.1 | — | 222.4 | ||||||||||||||||||||||
Total current assets | 1,585.90 | 28.1 | 5,306.40 | 2,898.60 | -6,517.30 | 3,301.70 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,888.30 | 36 | 1,917.00 | 210.3 | -7,795.40 | 256.2 | ||||||||||||||||||||||
Property and equipment at cost, net | 29.3 | — | 160.1 | 457.7 | — | 647.1 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 205.6 | 418.7 | — | 624.5 | ||||||||||||||||||||||
Goodwill | — | — | 2,029.10 | 1,659.60 | 0.3 | 3,689.00 | ||||||||||||||||||||||
Other long-term assets | 20.7 | — | 362.9 | 80.2 | -4.8 | 459 | ||||||||||||||||||||||
Total assets | $ | 7,524.40 | $ | 64.1 | $ | 9,981.10 | $ | 5,725.10 | $ | -14,317.20 | $ | 8,977.50 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 30.8 | $ | — | $ | 10.5 | $ | 44.4 | $ | — | $ | 85.7 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 9 | — | 353.3 | 357.2 | -39.3 | 680.2 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 35.3 | — | 304.8 | 147.8 | — | 487.9 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 122.3 | 138.5 | -0.2 | 260.6 | ||||||||||||||||||||||
Intercompany accounts payable | 2,961.70 | 14.7 | 2,422.60 | 1,063.80 | -6,462.80 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 29.4 | — | 20.4 | 21.6 | -71.4 | — | ||||||||||||||||||||||
Other current liabilities | 32.4 | 8.2 | 144.7 | 66.8 | -21.5 | 230.6 | ||||||||||||||||||||||
Total current liabilities | 3,098.60 | 22.9 | 3,378.60 | 1,840.10 | -6,595.20 | 1,745.00 | ||||||||||||||||||||||
Long-term debt | 988.4 | 699.6 | 16.7 | 300.3 | — | 2,005.00 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 305.9 | 81 | -4.6 | 382.3 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 13.6 | 114.4 | — | 128 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 177.4 | 107.5 | — | 284.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 558.6 | 1,259.90 | -1,818.50 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 235.7 | 47.3 | — | 285.8 | ||||||||||||||||||||||
Total liabilities | 4,089.80 | 722.5 | 4,686.50 | 3,750.50 | -8,418.30 | 4,831.00 | ||||||||||||||||||||||
URS stockholders' equity | 4,008.60 | 14.1 | 5,888.30 | 1,886.40 | -7,788.80 | 4,008.60 | ||||||||||||||||||||||
Intercompany notes receivable | -574 | -672.5 | -593.7 | -49.7 | 1,889.90 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,434.60 | -658.4 | 5,294.60 | 1,836.70 | -5,898.90 | 4,008.60 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 137.9 | — | 137.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,434.60 | -658.4 | 5,294.60 | 1,974.60 | -5,898.90 | 4,146.50 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,524.40 | $ | 64.1 | $ | 9,981.10 | $ | 5,725.10 | $ | -14,317.20 | $ | 8,977.50 | ||||||||||||||||
As of December 28, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Condensed Consolidating Balance Sheets Data: | ||||||||||||||||||||||||||||
As Reported | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 14.4 | $ | — | $ | 16.3 | $ | 285.4 | $ | -1.6 | $ | 314.5 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 771.2 | 811.8 | -28.2 | 1,554.80 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 876.9 | 515.7 | -8.3 | 1,384.30 | ||||||||||||||||||||||
Less receivable allowances | — | — | -29.1 | -40.6 | — | -69.7 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,619.00 | 1,286.90 | -36.5 | 2,869.40 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,765.80 | 22.4 | 4,248.90 | 1,530.60 | -7,567.70 | — | ||||||||||||||||||||||
Deferred tax assets | 6.8 | — | 60.3 | 0.5 | — | 67.6 | ||||||||||||||||||||||
Inventory | — | — | 5.5 | 56 | — | 61.5 | ||||||||||||||||||||||
Other current assets | 38.2 | — | 65.5 | 111.3 | -10.8 | 204.2 | ||||||||||||||||||||||
Total current assets | 1,825.20 | 22.4 | 6,015.50 | 3,270.70 | -7,616.60 | 3,517.20 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,400.50 | 20.7 | 1,812.00 | 258.9 | -7,213.80 | 278.3 | ||||||||||||||||||||||
Property and equipment at cost, net | 26.9 | — | 159.7 | 500.9 | — | 687.5 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 223.5 | 468.5 | — | 692.2 | ||||||||||||||||||||||
Goodwill | — | — | 1,778.70 | 1,468.40 | — | 3,247.10 | ||||||||||||||||||||||
Other long-term assets | 22.4 | — | 231.3 | 115.3 | -4.8 | 364.2 | ||||||||||||||||||||||
Total assets | $ | 7,275.20 | $ | 43.1 | $ | 10,220.70 | $ | 6,082.70 | $ | -14,835.20 | $ | 8,786.50 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 18.9 | $ | — | $ | 10 | $ | 42.9 | $ | — | $ | 71.8 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 4.1 | — | 382.8 | 454.8 | -38.2 | 803.5 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 41.1 | — | 362.6 | 155.1 | — | 558.8 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 146.4 | 143 | -0.3 | 289.1 | ||||||||||||||||||||||
Intercompany accounts payable | 3,138.30 | 14.7 | 3,109.10 | 1,305.60 | -7,567.70 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 14.3 | — | 20 | 599.2 | -633.5 | — | ||||||||||||||||||||||
Other current liabilities | 59.4 | 8.6 | 146.3 | 74 | -10.5 | 277.8 | ||||||||||||||||||||||
Total current liabilities | 3,276.10 | 23.3 | 4,177.20 | 2,774.60 | -8,250.20 | 2,001.00 | ||||||||||||||||||||||
Long-term debt | 952.2 | 699.6 | 16.9 | 323.8 | — | 1,992.50 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 247.6 | 85.5 | -4.8 | 328.3 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 18.3 | 111.5 | — | 129.8 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 185.4 | 115.5 | — | 300.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 561.7 | 687.8 | -1,249.50 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.9 | — | 197 | 71.1 | — | 271 | ||||||||||||||||||||||
Total liabilities | 4,231.20 | 722.9 | 5,404.10 | 4,169.80 | -9,504.50 | 5,023.50 | ||||||||||||||||||||||
URS stockholders' equity | 3,621.10 | 8 | 5,400.40 | 1,805.30 | -7,213.70 | 3,621.10 | ||||||||||||||||||||||
Intercompany notes receivable | -577.1 | -687.8 | -583.8 | -34.3 | 1,883.00 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,044.00 | -679.8 | 4,816.60 | 1,771.00 | -5,330.70 | 3,621.10 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 141.9 | — | 141.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,044.00 | -679.8 | 4,816.60 | 1,912.90 | -5,330.70 | 3,763.00 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,275.20 | $ | 43.1 | $ | 10,220.70 | $ | 6,082.70 | $ | -14,835.20 | $ | 8,786.50 | ||||||||||||||||
As of December 28, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Restatement Adjustments | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | $ | 422.9 | $ | — | $ | 224.1 | $ | — | $ | -647 | $ | — | ||||||||||||||||
Goodwill | $ | — | $ | — | $ | 250.4 | $ | 224.1 | $ | — | $ | 474.5 | ||||||||||||||||
Total assets | $ | 422.9 | $ | — | $ | 474.5 | $ | 224.1 | $ | -647 | $ | 474.5 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Deferred tax liabilities | $ | — | $ | — | $ | 51.6 | $ | — | $ | — | $ | 51.6 | ||||||||||||||||
Total liabilities | $ | — | $ | — | $ | 51.6 | $ | — | $ | — | $ | 51.6 | ||||||||||||||||
URS stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total URS stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total stockholders' equity | $ | 422.9 | $ | — | $ | 422.9 | $ | 224.1 | $ | -647 | $ | 422.9 | ||||||||||||||||
Total liabilities and stockholders' equity | $ | 422.9 | $ | — | $ | 474.5 | $ | 224.1 | $ | -647 | $ | 474.5 | ||||||||||||||||
As of December 28, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
Revision Adjustments | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Accounts receivable, including retentions | $ | — | $ | — | $ | 0.1 | $ | — | $ | -0.1 | $ | — | ||||||||||||||||
Net accounts receivable | $ | — | $ | — | $ | 0.1 | $ | — | $ | -0.1 | $ | — | ||||||||||||||||
Intercompany accounts receivable | $ | 27.4 | $ | — | $ | -315.8 | $ | -261.6 | $ | 550 | $ | — | ||||||||||||||||
Total current assets | $ | 27.4 | $ | — | $ | -315.7 | $ | -261.6 | $ | 549.9 | $ | — | ||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | $ | 0.1 | $ | — | $ | 0.2 | $ | -16.7 | $ | 16.4 | $ | — | ||||||||||||||||
Intangible assets, net | $ | — | $ | — | $ | -0.2 | $ | 0.2 | $ | — | $ | — | ||||||||||||||||
Other long-term assets | $ | -0.1 | $ | — | $ | — | $ | -0.2 | $ | 0.3 | $ | — | ||||||||||||||||
Total assets | $ | 27.4 | $ | — | $ | -315.7 | $ | -278.3 | $ | 566.6 | $ | — | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Accounts payable and subcontractors payable, including retentions | $ | 0.1 | $ | — | $ | -0.1 | $ | — | $ | — | $ | — | ||||||||||||||||
Accrued salaries and employee benefits | $ | -0.1 | $ | — | $ | 0.1 | $ | — | $ | — | $ | — | ||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | $ | — | $ | — | $ | -0.1 | $ | — | $ | 0.1 | $ | — | ||||||||||||||||
Intercompany accounts payable | $ | 27.4 | $ | — | $ | -315.7 | $ | -261.7 | $ | 550 | $ | — | ||||||||||||||||
Short-term intercompany notes payable | $ | — | $ | — | $ | — | $ | -577.6 | $ | 577.6 | $ | — | ||||||||||||||||
Other current liabilities | $ | 0.1 | $ | — | $ | -0.1 | $ | 4 | $ | -4 | $ | — | ||||||||||||||||
Total current liabilities | $ | 27.5 | $ | — | $ | -315.9 | $ | -835.3 | $ | 1,123.70 | $ | — | ||||||||||||||||
Deferred tax liabilities | $ | — | $ | — | $ | -0.1 | $ | 0.1 | $ | — | $ | — | ||||||||||||||||
Long-term intercompany notes payable | $ | — | $ | — | $ | — | $ | 577.6 | $ | -577.6 | $ | — | ||||||||||||||||
Other long-term liabilities | $ | -0.1 | $ | — | $ | 0.1 | $ | — | $ | — | $ | — | ||||||||||||||||
Total liabilities | $ | 27.4 | $ | — | $ | -315.9 | $ | -257.6 | $ | 546.1 | $ | — | ||||||||||||||||
Commitments and contingencies | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||
URS stockholders' equity | $ | — | $ | — | $ | 0.2 | $ | -20.7 | $ | 20.5 | $ | — | ||||||||||||||||
Total URS stockholders' equity | $ | — | $ | — | $ | 0.2 | $ | -20.7 | $ | 20.5 | $ | — | ||||||||||||||||
Total stockholders' equity | $ | — | $ | — | $ | 0.2 | $ | -20.7 | $ | 20.5 | $ | — | ||||||||||||||||
Total liabilities and stockholders' equity | $ | 27.4 | $ | — | $ | -315.7 | $ | -278.3 | $ | 566.6 | $ | — | ||||||||||||||||
As of December 28, 2012 | ||||||||||||||||||||||||||||
(in millions) | Issuer Parent | Issuer Fox LP | Guarantors | Non- Guarantors | Eliminations | Consolidated | ||||||||||||||||||||||
As Revised and Restated | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 14.4 | $ | — | $ | 16.3 | $ | 285.4 | $ | -1.6 | $ | 314.5 | ||||||||||||||||
Accounts receivable, including retentions | — | — | 771.3 | 811.8 | -28.3 | 1,554.80 | ||||||||||||||||||||||
Costs and accrued earnings in excess of billings on contracts | — | — | 876.9 | 515.7 | -8.3 | 1,384.30 | ||||||||||||||||||||||
Less receivable allowances | — | — | -29.1 | -40.6 | — | -69.7 | ||||||||||||||||||||||
Net accounts receivable | — | — | 1,619.10 | 1,286.90 | -36.6 | 2,869.40 | ||||||||||||||||||||||
Intercompany accounts receivable | 1,793.20 | 22.4 | 3,933.10 | 1,269.00 | -7,017.70 | — | ||||||||||||||||||||||
Deferred tax assets | 6.8 | — | 60.3 | 0.5 | — | 67.6 | ||||||||||||||||||||||
Inventory | — | — | 5.5 | 56 | — | 61.5 | ||||||||||||||||||||||
Other current assets | 38.2 | — | 65.5 | 111.3 | -10.8 | 204.2 | ||||||||||||||||||||||
Total current assets | 1,852.60 | 22.4 | 5,699.80 | 3,009.10 | -7,066.70 | 3,517.20 | ||||||||||||||||||||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5,823.50 | 20.7 | 2,036.30 | 242.2 | -7,844.40 | 278.3 | ||||||||||||||||||||||
Property and equipment at cost, net | 26.9 | — | 159.7 | 500.9 | — | 687.5 | ||||||||||||||||||||||
Intangible assets, net | 0.2 | — | 223.3 | 468.7 | — | 692.2 | ||||||||||||||||||||||
Goodwill | — | — | 2,029.10 | 1,692.50 | — | 3,721.60 | ||||||||||||||||||||||
Other long-term assets | 22.3 | — | 231.3 | 115.1 | -4.5 | 364.2 | ||||||||||||||||||||||
Total assets | $ | 7,725.50 | $ | 43.1 | $ | 10,379.50 | $ | 6,028.50 | $ | -14,915.60 | $ | 9,261.00 | ||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||
Current portion of long-term debt | $ | 18.9 | $ | — | $ | 10 | $ | 42.9 | $ | — | $ | 71.8 | ||||||||||||||||
Accounts payable and subcontractors payable, including retentions | 4.2 | — | 382.7 | 454.8 | -38.2 | 803.5 | ||||||||||||||||||||||
Accrued salaries and employee benefits | 41 | — | 362.7 | 155.1 | — | 558.8 | ||||||||||||||||||||||
Billings in excess of costs and accrued earnings on contracts | — | — | 146.3 | 143 | -0.2 | 289.1 | ||||||||||||||||||||||
Intercompany accounts payable | 3,165.70 | 14.7 | 2,793.40 | 1,043.90 | -7,017.70 | — | ||||||||||||||||||||||
Short-term intercompany notes payable | 14.3 | — | 20 | 21.6 | -55.9 | — | ||||||||||||||||||||||
Other current liabilities | 59.5 | 8.6 | 146.2 | 78 | -14.5 | 277.8 | ||||||||||||||||||||||
Total current liabilities | 3,303.60 | 23.3 | 3,861.30 | 1,939.30 | -7,126.50 | 2,001.00 | ||||||||||||||||||||||
Long-term debt | 952.2 | 699.6 | 16.9 | 323.8 | — | 1,992.50 | ||||||||||||||||||||||
Deferred tax liabilities | — | — | 299.1 | 85.6 | -4.8 | 379.9 | ||||||||||||||||||||||
Self-insurance reserves | — | — | 18.3 | 111.5 | — | 129.8 | ||||||||||||||||||||||
Pension and post-retirement benefit obligations | — | — | 185.4 | 115.5 | — | 300.9 | ||||||||||||||||||||||
Long-term intercompany notes payable | — | — | 561.7 | 1,265.40 | -1,827.10 | — | ||||||||||||||||||||||
Other long-term liabilities | 2.8 | — | 197.1 | 71.1 | — | 271 | ||||||||||||||||||||||
Total liabilities | 4,258.60 | 722.9 | 5,139.80 | 3,912.20 | -8,958.40 | 5,075.10 | ||||||||||||||||||||||
URS stockholders' equity | 4,044.00 | 8 | 5,823.50 | 2,008.70 | -7,840.20 | 4,044.00 | ||||||||||||||||||||||
Intercompany notes receivable | -577.1 | -687.8 | -583.8 | -34.3 | 1,883.00 | — | ||||||||||||||||||||||
Total URS stockholders' equity | 3,466.90 | -679.8 | 5,239.70 | 1,974.40 | -5,957.20 | 4,044.00 | ||||||||||||||||||||||
Noncontrolling interests | — | — | — | 141.9 | — | 141.9 | ||||||||||||||||||||||
Total stockholders' equity | 3,466.90 | -679.8 | 5,239.70 | 2,116.30 | -5,957.20 | 4,185.90 | ||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 7,725.50 | $ | 43.1 | $ | 10,379.50 | $ | 6,028.50 | $ | -14,915.60 | $ | 9,261.00 |
BUSINESS_BASIS_OF_PRESENTATION3
BUSINESS, BASIS OF PRESENTATION, AND ACCOUNTING POLICIES (DETAILS) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
In Millions, except Per Share data, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 30, 2011 | Dec. 28, 2012 |
countries | reportingunits | |||||
employees | countries | |||||
employees | ||||||
Cash and cash equivalents (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' |
Restricted cash and cash equivalents | $15.40 | ' | $15.40 | ' | ' | $17.10 |
Change in accounting estimate [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues | 2,792 | 2,690.70 | 5,594.50 | 5,052.20 | ' | ' |
Organization, consolidation and presentation of financial statements, as shown (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' |
Entity number of employees | 50,000 | ' | 50,000 | ' | ' | ' |
Number of countries in which entity operates | 50 | ' | 50 | ' | ' | ' |
Number of operating segments | ' | ' | 4 | ' | ' | ' |
Restatement of prior year income, net of tax [Abstract] | ' | ' | ' | ' | ' | ' |
Impact of restatement on earnings per share, diluted | ' | ' | ' | ' | $5.47 | ' |
Consolidated Balance Sheet Data [Abstract] | ' | ' | ' | ' | ' | ' |
Goodwill | 3,689 | ' | 3,689 | ' | ' | 3,721.60 |
Total assets | 8,977.50 | ' | 8,977.50 | ' | ' | 9,261 |
Deferred tax liabilities | 382.3 | ' | 382.3 | ' | ' | 379.9 |
Total liabilities | 4,831 | ' | 4,831 | ' | ' | 5,075.10 |
Retained earnings | 1,754.50 | ' | 1,754.50 | ' | ' | 1,647.30 |
Total URS stockholders' equity | 4,008.60 | ' | 4,008.60 | ' | ' | 4,044 |
Total stockholders' equity | 4,146.50 | 3,992.40 | 4,146.50 | 3,992.40 | 3,907.30 | 4,185.90 |
Total liabilities and stockholders' equity | 8,977.50 | ' | 8,977.50 | ' | ' | 9,261 |
Condensed Consolidated Statements of Operations Data [Abstract] | ' | ' | ' | ' | ' | ' |
Income (loss) before income taxes | 120.6 | 119.6 | 249.6 | 273.7 | ' | ' |
Income tax benefit (expense) | -38.9 | -40.5 | -81.1 | -89.1 | ' | ' |
Net income (loss) including noncontrolling interests | 81.7 | 79.1 | 168.5 | 184.6 | ' | ' |
Noncontrolling interests in income of consolidated subsidiaries | -14.4 | -25.5 | -29.3 | -51.3 | ' | ' |
Net income (loss) attributable to URS | 67.3 | 53.6 | 139.2 | 133.3 | ' | ' |
Condensed Consolidated Statements of Comprehensive Income Data [Abstract] | ' | ' | ' | ' | ' | ' |
Comprehensive income (loss) | 44.7 | 46.4 | 99.1 | 173.4 | ' | ' |
Condensed Consolidated Statements of Changes in Stockholders Equity Data [Abstract] | ' | ' | ' | ' | ' | ' |
Distributions to noncontrolling interests | ' | ' | -31.7 | -35.2 | ' | ' |
Ending Balances | 4,146.50 | 3,992.40 | 4,146.50 | 3,992.40 | 3,907.30 | 4,185.90 |
Condensed Consolidated Statements of Cash Flows Data [Abstract] | ' | ' | ' | ' | ' | ' |
Accounts payable, accrued salaries and employee benefits, and other current liabilities | ' | ' | -279 | -170.3 | ' | ' |
Other long-term liabilities | ' | ' | 25.9 | -2.7 | ' | ' |
Retained Earnings | ' | ' | ' | ' | ' | ' |
Consolidated Balance Sheet Data [Abstract] | ' | ' | ' | ' | ' | ' |
Total stockholders' equity | 1,754.50 | 1,500.80 | 1,754.50 | 1,500.80 | 1,398.10 | 1,647.30 |
Condensed Consolidated Statements of Operations Data [Abstract] | ' | ' | ' | ' | ' | ' |
Net income (loss) including noncontrolling interests | ' | ' | 139.2 | 133.3 | ' | ' |
Condensed Consolidated Statements of Changes in Stockholders Equity Data [Abstract] | ' | ' | ' | ' | ' | ' |
Ending Balances | 1,754.50 | 1,500.80 | 1,754.50 | 1,500.80 | 1,398.10 | 1,647.30 |
Total URS Stockholders' Equity | ' | ' | ' | ' | ' | ' |
Consolidated Balance Sheet Data [Abstract] | ' | ' | ' | ' | ' | ' |
Total stockholders' equity | 4,008.60 | 3,864.60 | 4,008.60 | 3,864.60 | 3,800.10 | 4,044 |
Condensed Consolidated Statements of Operations Data [Abstract] | ' | ' | ' | ' | ' | ' |
Net income (loss) including noncontrolling interests | ' | ' | 139.2 | 133.3 | ' | ' |
Condensed Consolidated Statements of Changes in Stockholders Equity Data [Abstract] | ' | ' | ' | ' | ' | ' |
Ending Balances | 4,008.60 | 3,864.60 | 4,008.60 | 3,864.60 | 3,800.10 | 4,044 |
As Reported [Member] | ' | ' | ' | ' | ' | ' |
Consolidated Balance Sheet Data [Abstract] | ' | ' | ' | ' | ' | ' |
Goodwill | 3,214.50 | ' | 3,214.50 | ' | ' | 3,247.10 |
Total assets | 8,503 | ' | 8,503 | ' | ' | 8,786.50 |
Deferred tax liabilities | 330.7 | ' | 330.7 | ' | ' | 328.3 |
Total liabilities | 4,779.40 | ' | 4,779.40 | ' | ' | 5,023.50 |
Retained earnings | 1,331.60 | ' | 1,331.60 | ' | ' | 1,224.40 |
Total URS stockholders' equity | 3,585.70 | ' | 3,585.70 | ' | ' | 3,621.10 |
Total stockholders' equity | 3,723.60 | 3,569.50 | 3,723.60 | 3,569.50 | 3,484.40 | 3,763 |
Total liabilities and stockholders' equity | 8,503 | ' | 8,503 | ' | ' | 8,786.50 |
Condensed Consolidated Statements of Changes in Stockholders Equity Data [Abstract] | ' | ' | ' | ' | ' | ' |
Ending Balances | 3,723.60 | 3,569.50 | 3,723.60 | 3,569.50 | 3,484.40 | 3,763 |
As Reported [Member] | Retained Earnings | ' | ' | ' | ' | ' | ' |
Consolidated Balance Sheet Data [Abstract] | ' | ' | ' | ' | ' | ' |
Total stockholders' equity | 1,331.60 | 1,077.90 | 1,331.60 | 1,077.90 | 975.2 | 1,224.40 |
Condensed Consolidated Statements of Changes in Stockholders Equity Data [Abstract] | ' | ' | ' | ' | ' | ' |
Ending Balances | 1,331.60 | 1,077.90 | 1,331.60 | 1,077.90 | 975.2 | 1,224.40 |
As Reported [Member] | Total URS Stockholders' Equity | ' | ' | ' | ' | ' | ' |
Consolidated Balance Sheet Data [Abstract] | ' | ' | ' | ' | ' | ' |
Total stockholders' equity | 3,585.70 | 3,441.70 | 3,585.70 | 3,441.70 | 3,377.20 | 3,621.10 |
Condensed Consolidated Statements of Changes in Stockholders Equity Data [Abstract] | ' | ' | ' | ' | ' | ' |
Ending Balances | 3,585.70 | 3,441.70 | 3,585.70 | 3,441.70 | 3,377.20 | 3,621.10 |
Restatement Adjustments [Member] | ' | ' | ' | ' | ' | ' |
Consolidated Balance Sheet Data [Abstract] | ' | ' | ' | ' | ' | ' |
Goodwill | 474.5 | ' | 474.5 | ' | 474.5 | 474.5 |
Total assets | 474.5 | ' | 474.5 | ' | ' | 474.5 |
Deferred tax liabilities | 51.6 | ' | 51.6 | ' | -51.6 | 51.6 |
Total liabilities | 51.6 | ' | 51.6 | ' | ' | 51.6 |
Retained earnings | 422.9 | ' | 422.9 | ' | 422.9 | 422.9 |
Total URS stockholders' equity | 422.9 | ' | 422.9 | ' | ' | 422.9 |
Total stockholders' equity | 422.9 | 422.9 | 422.9 | 422.9 | 422.9 | 422.9 |
Total liabilities and stockholders' equity | 474.5 | ' | 474.5 | ' | ' | 474.5 |
Condensed Consolidated Statements of Operations Data [Abstract] | ' | ' | ' | ' | ' | ' |
Goodwill impairment | ' | ' | ' | ' | -474.5 | ' |
Income tax benefit (expense) | ' | ' | ' | ' | -51.6 | ' |
Net income (loss) including noncontrolling interests | ' | ' | ' | ' | 422.9 | ' |
Net income (loss) attributable to URS | ' | ' | ' | ' | 422.9 | ' |
Condensed Consolidated Statements of Changes in Stockholders Equity Data [Abstract] | ' | ' | ' | ' | ' | ' |
Ending Balances | 422.9 | 422.9 | 422.9 | 422.9 | 422.9 | 422.9 |
Restatement Adjustments [Member] | Retained Earnings | ' | ' | ' | ' | ' | ' |
Consolidated Balance Sheet Data [Abstract] | ' | ' | ' | ' | ' | ' |
Total stockholders' equity | 422.9 | 422.9 | 422.9 | 422.9 | 422.9 | 422.9 |
Condensed Consolidated Statements of Changes in Stockholders Equity Data [Abstract] | ' | ' | ' | ' | ' | ' |
Ending Balances | 422.9 | 422.9 | 422.9 | 422.9 | 422.9 | 422.9 |
Restatement Adjustments [Member] | Total URS Stockholders' Equity | ' | ' | ' | ' | ' | ' |
Consolidated Balance Sheet Data [Abstract] | ' | ' | ' | ' | ' | ' |
Total stockholders' equity | 422.9 | 422.9 | 422.9 | 422.9 | 422.9 | 422.9 |
Condensed Consolidated Statements of Changes in Stockholders Equity Data [Abstract] | ' | ' | ' | ' | ' | ' |
Ending Balances | 422.9 | 422.9 | 422.9 | 422.9 | 422.9 | 422.9 |
Performance-based Incentive Fees [Member] | ' | ' | ' | ' | ' | ' |
Change in accounting estimate [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | 25.8 | ' | ' | ' |
Impact on operating income | ' | ' | 25.8 | ' | ' | ' |
Impact on net income | ' | ' | 15.5 | ' | ' | ' |
Impact on EPS | ' | ' | $0.21 | ' | ' | ' |
Programmatic Schedule Incentive Fees [Member] | ' | ' | ' | ' | ' | ' |
Change in accounting estimate [Line Items] | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | 40 | ' | ' |
Impact on operating income | ' | ' | ' | 40 | ' | ' |
Impact on net income | ' | ' | ' | $24 | ' | ' |
Impact on EPS | ' | ' | ' | $0.32 | ' | ' |
EARNINGS_PER_SHARE_DETAILS
EARNINGS PER SHARE (DETAILS) | 3 Months Ended | 6 Months Ended | ||||||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | ||||
Weighted-average shares of common stock outstanding: | ' | ' | ' | ' | ||||
Weighted-average shares of common stock outstanding | 73.8 | [1] | 74.2 | [1] | 74.1 | [1] | 74.1 | [1] |
Effect of dilutive stock options, restricted stock awards and units and employee stock purchase plan shares | 0.2 | 0.4 | 0.3 | 0.3 | ||||
Weighted-average shares of common stock outstanding - Diluted | 74 | 74.6 | 74.4 | 74.4 | ||||
Anti-dilutive equity awards not included in components of weighted-average shares of common stock outstanding | ' | ' | 0.6 | 0.7 | ||||
[1] | Weighted-average shares of common stock outstanding is net of treasury stock. |
ACCOUNTS_RECEIVABLE_AND_COSTS_2
ACCOUNTS RECEIVABLE AND COSTS AND ACCRUED EARNINGS IN EXCESS OF BILLINGS ON CONTRACTS (DETAILS) (USD $) | Jun. 28, 2013 | Dec. 28, 2012 |
In Millions, unless otherwise specified | ||
Accounts receivable and costs and accrued earnings in excess of billings on contracts (Textuals) [Abstract] | ' | ' |
Receivables with contractual terms in excess of one year | $139.90 | $121.40 |
Schedule of accounts receivable and costs and accrued earnings in excess of billings on contracts [Line Items] | ' | ' |
Total accounts receivable | 1,469 | 1,554.80 |
Unbilled Accounts Receivable | 1,707.50 | 1,649.20 |
Less: Amounts included in Other long-term assets | -376.8 | -264.9 |
Costs and accrued earnings in excess of billings on contracts | 1,330.70 | 1,384.30 |
US Federal Government [Member] | ' | ' |
Schedule of accounts receivable and costs and accrued earnings in excess of billings on contracts [Line Items] | ' | ' |
Total accounts receivable | 388.5 | 376.2 |
Unbilled Accounts Receivable | 825.1 | 892.7 |
Others [Member] | ' | ' |
Schedule of accounts receivable and costs and accrued earnings in excess of billings on contracts [Line Items] | ' | ' |
Total accounts receivable | 1,080.50 | 1,178.60 |
Unbilled Accounts Receivable | $882.40 | $756.50 |
INVENTORY_DETAILS
INVENTORY (DETAILS) (USD $) | Jun. 28, 2013 | Dec. 28, 2012 |
In Millions, unless otherwise specified | ||
Inventory [Abstract] | ' | ' |
Raw materials | $11.20 | $14.20 |
Work in process | 6.3 | 9.8 |
Finished goods | 25.6 | 24.9 |
Supplies | 12 | 12.6 |
Inventory | $55.10 | $61.50 |
JOINT_VENTURES_DETAILS
JOINT VENTURES (DETAILS) (USD $) | 3 Months Ended | 6 Months Ended | ||||||||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 28, 2012 | Dec. 30, 2011 | ||||
Joint ventures (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Unconsolidated VIEs, Distributions | $29 | $27.90 | $52.10 | $46.50 | ' | ' | ||||
Example of the joint venture activities | ' | ' | 'The following are examples of activities currently being performed by our significant consolidated and unconsolidated joint ventures: Engineering, procurement and construction of a concrete dam; Liquid waste management services, including the decontamination of a former nuclear fuel reprocessing facility and nuclear hazardous waste processing; Management of ongoing tank cleanup effort, including retrieving, treating, storing and disposing of nuclear waste that is stored at tank farms; Management, operation and cleanup services, including commercial operations, decontamination, decommissioning, and waste management of a nuclear facility in the United Kingdom (“U.K.”); and Operations, maintenance, asset management and project management services to the Canadian energy sector. | ' | ' | ' | ||||
Review of our joint ventures | ' | ' | 'We perform a quarterly review of our joint ventures to determine whether there were any changes in the status of the VIEs or changes to the primary beneficiary designation of each VIE. We determined that no such changes occurred during the six months ended June 28, 2013. | ' | ' | ' | ||||
Maximum loss exposure that can not be quantified | ' | ' | 'Exposure to Loss In addition to potential losses arising out of the carrying values of the assets and liabilities of our unconsolidated joint ventures, our maximum exposure to loss also includes performance assurances and guarantees we sometimes provide to clients on behalf of joint ventures that we do not directly control. We enter into these guarantees primarily to support the contractual obligations associated with the joint ventures’ projects. The potential payment amount of an outstanding performance guarantee is typically the remaining cost of work to be performed by or on behalf of third parties under engineering and construction contracts. However, the majority of the unconsolidated joint ventures in which we participate involve cost-reimbursable, level-of-effort projects that are accounted for as service-type projects, not engineering and construction projects that would follow the percentage-of-completion or completed-contract accounting method. Revenues for service-type contracts are recognized in proportion to the number of service activities performed, in proportion to the direct costs of performing the service activities, or evenly across the period of performance, depending upon the nature of the services provided. The services we provide on these cost-reimbursable contracts are management and operations services for government clients and operations and maintenance services for non-government clients. We believe that, due to the continual changes we experience in client funding and scope definitions, reliable estimates of performance guarantees cannot be calculated because they cannot be reliably predicted. In addition, we participate in joint ventures in which the level of our participation is so minimal that we do not have access to those joint ventures’ estimates to complete. The joint ventures where we perform engineering and construction contracts and where we have access to the estimates to complete, which are needed to calculate the performance guarantees, are immaterial. | ' | ' | ' | ||||
Consolidated Joint Ventures [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Cash and cash equivalents | 234.1 | 287.8 | 234.1 | 287.8 | 314.5 | 436 | ||||
Net accounts receivable | 2,735.90 | ' | 2,735.90 | ' | 2,869.40 | ' | ||||
Other current assets | 222.4 | ' | 222.4 | ' | 204.2 | ' | ||||
Accounts and subcontractors payable | 680.2 | ' | 680.2 | ' | 803.5 | ' | ||||
Billings in excess of costs and accrued earnings on contracts | 260.6 | ' | 260.6 | ' | 289.1 | ' | ||||
Accrued expenses and other | 230.6 | ' | 230.6 | ' | 277.8 | ' | ||||
Total URS equity | 4,008.60 | ' | 4,008.60 | ' | 4,044 | ' | ||||
Noncontrolling interests | 137.9 | ' | 137.9 | ' | 141.9 | ' | ||||
Unconsolidated Joint Ventures [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Current assets | 3,301.70 | ' | 3,301.70 | ' | 3,517.20 | ' | ||||
Current liabilities | 1,745 | ' | 1,745 | ' | 2,001 | ' | ||||
Revenues | 2,792 | 2,690.70 | 5,594.50 | 5,052.20 | ' | ' | ||||
Cost of revenues | -2,641.60 | -2,527.50 | -5,292.90 | -4,730.70 | ' | ' | ||||
Income (loss) from continuing operations before taxes | 120.6 | 119.6 | 249.6 | 273.7 | ' | ' | ||||
Net income | 67.3 | 53.6 | 139.2 | 133.3 | ' | ' | ||||
Sale of Equity Investment [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Other income, net | -3.3 | -9.2 | -5.8 | -6.7 | ' | ' | ||||
Consolidated Joint Ventures [Member] | ' | ' | ' | ' | ' | ' | ||||
Consolidated Joint Ventures [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Cash and cash equivalents | 75.1 | ' | 75.1 | ' | 80.1 | ' | ||||
Net accounts receivable | 264.6 | ' | 264.6 | ' | 282.2 | ' | ||||
Other current assets | 2.7 | ' | 2.7 | ' | 2.9 | ' | ||||
Non-current assets | 119 | ' | 119 | ' | 143.3 | ' | ||||
Total assets | 461.4 | ' | 461.4 | ' | 508.5 | ' | ||||
Accounts and subcontractors payable | 128.1 | ' | 128.1 | ' | 185 | ' | ||||
Billings in excess of costs and accrued earnings on contracts | 12.3 | ' | 12.3 | ' | 8.7 | ' | ||||
Accrued expenses and other | 49 | ' | 49 | ' | 40 | ' | ||||
Non-current liabilities | 10.1 | ' | 10.1 | ' | 22.7 | ' | ||||
Total liabilities | 199.5 | ' | 199.5 | ' | 256.4 | ' | ||||
Total URS equity | 124 | ' | 124 | ' | 110.2 | ' | ||||
Noncontrolling interests | 137.9 | ' | 137.9 | ' | 141.9 | ' | ||||
Total owners' equity | 261.9 | ' | 261.9 | ' | 252.1 | ' | ||||
Total liabilities and owners' equity | 461.4 | ' | 461.4 | ' | 508.5 | ' | ||||
Unconsolidated Joint Ventures [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Revenues | 275.3 | 642.4 | 529.4 | 1,000 | ' | ' | ||||
Unconsolidated VIEs [Member] | ' | ' | ' | ' | ' | ' | ||||
Consolidated Joint Ventures [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Non-current assets | 34 | ' | 34 | ' | 23.8 | ' | ||||
Non-current liabilities | 3.9 | ' | 3.9 | ' | 7.8 | ' | ||||
Unconsolidated Joint Ventures [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Current assets | 694.5 | ' | 694.5 | ' | 594.1 | ' | ||||
Current liabilities | 487.8 | ' | 487.8 | ' | 372.5 | ' | ||||
Revenues | 565.5 | [1] | 380.9 | [1] | 1,111.90 | [1],[2] | 744.8 | [2] | ' | ' |
Cost of revenues | -507 | [1] | -332.1 | [1] | -993.7 | [1],[2] | -632.1 | [2] | ' | ' |
Income (loss) from continuing operations before taxes | 58.5 | [1] | 48.8 | [1] | 118.2 | [1],[2] | 112.7 | [2] | ' | ' |
Net income | $53.80 | [1] | $46 | [1] | $109.70 | [1],[2] | $104.10 | [2] | ' | ' |
[1] | Income from unconsolidated U.S. joint ventures is generally not taxable in most tax jurisdictions in the U.S. The tax expenses on our other unconsolidated joint ventures are primarily related to foreign taxes. | |||||||||
[2] | Leasehold improvements are amortized over the length of the lease or estimated useful life, whichever is less. |
PROPERTY_AND_EQUIPMENT_DETAILS
PROPERTY AND EQUIPMENT (DETAILS) (USD $) | Jun. 28, 2013 | Dec. 28, 2012 | ||
In Millions, unless otherwise specified | ||||
Depreciation and amortization expense related to property and equipment (Textuals) [Abstract] | ' | ' | ||
Unamortized computer software costs | $72.70 | $71.10 | ||
Property plant and equipment [Line Items] | ' | ' | ||
Property plant and equipment, gross | 1,291.30 | 1,286.20 | ||
Accumulated depreciation and amortization | -644.2 | -598.7 | ||
Property and equipment at cost, net | 647.1 | [1] | 687.5 | [1] |
Construction and mining equipment [Member] | ' | ' | ||
Property plant and equipment [Line Items] | ' | ' | ||
Property plant and equipment, gross | 250.8 | 266.4 | ||
Computer software [Member] | ' | ' | ||
Property plant and equipment [Line Items] | ' | ' | ||
Property plant and equipment, gross | 230.6 | 219.5 | ||
Computer hardware [Member] | ' | ' | ||
Property plant and equipment [Line Items] | ' | ' | ||
Property plant and equipment, gross | 210.7 | 198.2 | ||
Vehicles and automotive equipment [Member] | ' | ' | ||
Property plant and equipment [Line Items] | ' | ' | ||
Property plant and equipment, gross | 170.7 | 172.2 | ||
Leasehold improvements [Member] | ' | ' | ||
Property plant and equipment [Line Items] | ' | ' | ||
Property plant and equipment, gross | 141.9 | 130.1 | ||
Land and buildings [Member] | ' | ' | ||
Property plant and equipment [Line Items] | ' | ' | ||
Property plant and equipment, gross | 105.9 | 114.1 | ||
Furniture and fixtures [Member] | ' | ' | ||
Property plant and equipment [Line Items] | ' | ' | ||
Property plant and equipment, gross | 91.1 | 97.7 | ||
Other equipment [Member] | ' | ' | ||
Property plant and equipment [Line Items] | ' | ' | ||
Property plant and equipment, gross | 75.8 | 72.4 | ||
Construction in progress [Member] | ' | ' | ||
Property plant and equipment [Line Items] | ' | ' | ||
Property plant and equipment, gross | $13.80 | $15.60 | ||
[1] | The unamortized computer software costs were $72.7 million and $71.1 million, respectively, as of June 28, 2013 and December 28, 2012. |
ACQUISITION_DETAILS
ACQUISITION (DETAILS) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | ||||||||||
Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | 14-May-12 | 14-May-12 | Jun. 29, 2012 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 28, 2013 | |||
USD ($) | USD ($) | USD ($) | USD ($) | Flint acquisition [Member] | Flint acquisition [Member] | Flint acquisition [Member] | Flint acquisition [Member] | Flint acquisition [Member] | Flint acquisition [Member] | Flint acquisition [Member] | Flint acquisition [Member] | Flint acquisition [Member] | Flint acquisition [Member] | |||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CAD | Restatement Adjustments [Member] | Restatement Adjustments [Member] | Maximum [Member] | Minimum [Member] | |||||||
USD ($) | USD ($) | |||||||||||||||
Business acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business acquisition - date of acquisition agreement | ' | ' | ' | ' | ' | ' | 14-May-12 | ' | ' | ' | ' | ' | ' | ' | ||
Cash paid to acquire entity | ' | ' | ' | ' | ' | ' | ' | ' | $1,240,000,000 | 1,240,000,000 | ' | ' | ' | ' | ||
Acquisition-related expenses | ' | -11,300,000 | ' | -16,900,000 | ' | -11,300,000 | ' | -16,900,000 | ' | ' | ' | ' | ' | ' | ||
Preliminary allocation of purchase price [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Estimated useful life - other intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '40 years 0 months 0 days | '3 years 0 months 0 days | ||
Business acquisition [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business acquisition - date of acquisition agreement | ' | ' | ' | ' | ' | ' | 14-May-12 | ' | ' | ' | ' | ' | ' | ' | ||
Business acquisition - cost of acquired entity per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | ' | ' | ' | ||
Business acquisition - cost of acquired entity cash paid | ' | ' | ' | ' | ' | ' | ' | ' | 1,240,000,000 | 1,240,000,000 | ' | ' | ' | ' | ||
Business acquisition - revenues | 2,792,000,000 | 2,690,700,000 | 5,594,500,000 | 5,052,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business acquisition - operating income | 145,400,000 | 149,500,000 | 298,000,000 | 310,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business acquisition, pro forma information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Revenues | ' | ' | ' | ' | ' | 2,934,400,000 | ' | 5,866,200,000 | ' | ' | ' | ' | ' | ' | ||
Net income including noncontrolling interests | ' | ' | ' | ' | ' | 84,800,000 | [1] | ' | 191,900,000 | [1] | ' | ' | 16,000,000 | 8,800,000 | ' | ' |
Net income attributable to URS | ' | ' | ' | ' | ' | 59,100,000 | [1] | ' | 140,400,000 | [1] | ' | ' | 16,000,000 | 8,800,000 | ' | ' |
Basic EPS | ' | ' | ' | ' | ' | $0.80 | [1] | ' | $1.90 | [1] | ' | ' | $0.22 | $0.12 | ' | ' |
Diluted EPS | ' | ' | ' | ' | ' | $0.79 | [1] | ' | $1.89 | [1] | ' | ' | $0.21 | $0.12 | ' | ' |
Business acquisition, pro forma nonrecurring adjustments [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Acquisition-related expense | ' | ' | ' | ' | ' | 21,100,000 | [2] | ' | 28,400,000 | [2] | ' | ' | ' | ' | ' | ' |
Voting interest percentage in unconsolidated joint venture arising from acquisition | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ||
Excess fair value over underlying equity interest | ' | ' | ' | ' | 128,500,000 | ' | 128,500,000 | ' | ' | ' | ' | ' | ' | ' | ||
Intangible assets | ' | ' | ' | ' | 38,000,000 | ' | 38,000,000 | ' | ' | ' | ' | ' | ' | ' | ||
Other indebtedness that was repaid | ' | ' | ' | ' | ' | ' | ' | ' | 110,300,000 | ' | ' | ' | ' | ' | ||
Amortization of acquired intangible assets | ' | ' | ' | ' | $2,700,000 | $1,500,000 | $5,300,000 | $1,500,000 | ' | ' | ' | ' | ' | ' | ||
[1] | Amounts have been revised to correct errors related to foreign currency translation losses on intercompany loans and foreign currency forward contracts in the pro forma financial information previously issued for the three and six months ended June 29, 2012. The revisions increased both net income (loss) including noncontrolling interests and net income (loss) attributable to URS by $16.0 million and $8.8 million for the three- and six-month periods ended June 29, 2012, respectively, increased basic and diluted EPS by $0.22 and $0.21 for the three months ended June 29, 2012, respectively, and increased both basic and diluted EPS by $0.12 for the six-month period ended June 29, 2012. | |||||||||||||||
[2] | Included in the pro forma results for the three and six months ended June 29, 2012 is a nonrecurring adjustment related to URS and Flint acquisition-related expenses. |
INDEBTEDNESS_DETAILS
INDEBTEDNESS (DETAILS) | 3 Months Ended | 6 Months Ended | 6 Months Ended | 4 Months Ended | 6 Months Ended | |||||||||||||||||||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 29, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Mar. 15, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Mar. 15, 2012 | 14-May-12 | 14-May-12 | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | 3.85% Senior Notes (net of discount) [Member] | 3.85% Senior Notes (net of discount) [Member] | 3.85% Senior Notes (net of discount) [Member] | 5.00% Senior Notes (net of discount) [Member] | 5.00% Senior Notes (net of discount) [Member] | 5.00% Senior Notes (net of discount) [Member] | 7.50% Canadian Notes (including premium) [Member] | 7.50% Canadian Notes (including premium) [Member] | 7.50% Canadian Notes (including premium) [Member] | 7.50% Canadian Notes (including premium) [Member] | Foreign Line of Credit [Member] | Foreign Line of Credit [Member] | Revolving Line of Credit [Member] | Revolving Line of Credit [Member] | Credit Facility Term Loan [Member] | Credit Facility Term Loan [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CAD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||
Indebtedness [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bank term loans, net of debt issuance costs | $651.80 | ' | $651.80 | ' | $666.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes (net of discount) | ' | ' | ' | ' | ' | 999.1 | ' | ' | 399.6 | 399.5 | ' | 599.5 | 599.5 | ' | ' | ' | 191.9 | 203.8 | ' | ' | ' | ' | ' | ' |
Revolving line of credit | 131.6 | ' | 131.6 | ' | 100.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 131.6 | 100.5 | ' | ' |
Other indebtedness | 116.3 | ' | 116.3 | ' | 94.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total indebtedness | 2,090.70 | ' | 2,090.70 | ' | 2,064.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding debt | ' | ' | ' | ' | ' | 1,200 | 1,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 655 | 670 |
Interest rate at period end | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.70% | 1.71% |
Senior credit facility [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2011 Credit Facility term loan, basis spread on variable rate | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | ' |
Line of credit facility, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48.9 | 50.8 | ' | ' | ' | ' |
Repayment of revolving line of credit | ' | ' | 822.6 | 263.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, covenant compliance | ' | ' | 'We were in compliance with the covenants of our Senior Notes and Canadian Notes as of June 28, 2013 | ' | ' | 'We were in compliance with the covenants of our 2011 Credit Facility as of June 28, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '. | ' | ' | ' | ' | ' | ' | ' |
Senior Notes and Canadian Notes [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes, unamortized discount | ' | ' | ' | ' | ' | 0.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes, unamortized premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24.8 | ' | ' | ' | ' | ' | ' | ' |
Senior Notes, aggregate principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 | ' | ' | 600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes, interest rate, stated percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.85% | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes, future indebtedness threshold for guarantors | ' | ' | ' | ' | ' | ' | ' | 100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition - liabilities assumed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175 | 175 | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving line of credit [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit issued, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 124.9 | ' | ' | ' |
Amounts available on our revolving credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 743.5 | ' | ' | ' |
Other indebtedness [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes payable, five-year loan notes, and foreign credit lines | 59.8 | ' | 59.8 | ' | 35.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes payable, weighted-average interest rate | 3.19% | ' | 3.19% | ' | 4.68% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Obligations under capital leases | 56.5 | ' | 56.5 | ' | 59.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, aggregate borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48.9 | 50.8 | ' | ' | ' | ' |
Line of credit facility, remaining borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41.1 | 47.7 | ' | ' | ' | ' |
Foreign currency gains (losses) on intercompany loans | $3.30 | $6.40 | $5.80 | $6.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
INDEBTEDNESS_DETAILS_2
INDEBTEDNESS (DETAILS 2) (USD $) | Jun. 28, 2013 | Dec. 28, 2012 |
In Millions, unless otherwise specified | ||
Total indebtedness [Abstract] | ' | ' |
Total indebtedness | $2,090.70 | $2,064.30 |
Current portion of long-term debt | 85.7 | 71.8 |
Long-term debt | $2,005 | $1,992.50 |
FAIR_VALUE_OF_DEBT_INSTRUMENTS
FAIR VALUE OF DEBT INSTRUMENTS AND DERIVATIVE INSTRUMENTS (DETAILS) | 3 Months Ended | 6 Months Ended | 6 Months Ended | |||||
Jun. 29, 2012 | Jun. 29, 2012 | Mar. 30, 2012 | Mar. 30, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | |
USD ($) | USD ($) | USD ($) | CAD | Senior Notes [Member] | Senior Notes [Member] | Credit Facility Term Loan [Member] | Credit Facility Term Loan [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | |||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding debt | ' | ' | ' | ' | $1,200,000,000 | $1,200,000,000 | $655,000,000 | $670,000,000 |
Fair values of our term loans | ' | ' | ' | ' | ' | ' | 652,400,000 | 667,300,000 |
Fair value loans payable valuation techniques | ' | ' | ' | ' | 'The fair value of the Senior Notes and Canadian Notes was derived by taking the mid-point of the trading prices from an observable market input (Level 2) in the secondary loan market and multiplying it by the outstanding balance of the notes. | ' | ' | ' |
Fair value of our Senior Notes | ' | ' | ' | ' | 1,200,000,000 | 1,200,000,000 | ' | ' |
Foreign currency exchange contracts [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount of foreign currency forward contract | ' | ' | 1,250,000,000 | 1,250,000,000 | ' | ' | ' | ' |
Foreign currency exchange contracts [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on settlement of foreign currency forward contract | $2,800,000 | $300,000 | ' | ' | ' | ' | ' | ' |
BILLINGS_IN_EXCESS_OF_COSTS_AN2
BILLINGS IN EXCESS OF COSTS AND ACCRUED EARNINGS ON CONTRACTS (DETAILS) (USD $) | Jun. 28, 2013 | Dec. 28, 2012 |
In Millions, unless otherwise specified | ||
Components Of Billings In Excess Of Cost And Accrued Earnings On Contracts [Abstract] | ' | ' |
Billings in excess of costs and accrued earnings on contracts | $216.10 | $211.70 |
Project-related legal liabilities and other project-related reserves | 33.3 | 55.2 |
Advance payments negotiated as a contract condition | 4.2 | 9.8 |
Normal profit liabilities | 1 | 4.8 |
Estimated losses on uncompleted contracts | 6 | 7.6 |
Total billings in excess of costs and accrued earnings on contracts | $260.60 | $289.10 |
EMPLOYEE_RETIREMENT_AND_POSTRE2
EMPLOYEE RETIREMENT AND POST-RETIREMENT BENEFIT PLANS (DETAILS) (USD $) | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 28, 2013 | Jun. 28, 2013 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 |
In Millions, unless otherwise specified | Pension Plans, Defined Benefit [Member] | Pension Plans, Defined Benefit [Member] | Domestic Pension Plans [Member] | Domestic Pension Plans [Member] | Domestic Pension Plans [Member] | Domestic Pension Plans [Member] | Foreign Pension Plans [Member] | Foreign Pension Plans [Member] | Foreign Pension Plans [Member] | Foreign Pension Plans [Member] | Post-retirement Benefit Plans [Member] | Post-retirement Benefit Plans [Member] | Post-retirement Benefit Plans [Member] | Post-retirement Benefit Plans [Member] | ||
Change in benefit obligation: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Service cost | ' | ' | ' | ' | $2.20 | $2 | $4.40 | $4 | $0.10 | $0.10 | $0.20 | $0.20 | ' | ' | ' | ' |
Interest cost | ' | ' | ' | ' | 4.4 | 4.7 | 8.8 | 9.4 | 5.7 | 5.7 | 11.4 | 11.3 | 0.4 | 0.5 | 0.8 | 1 |
Change in plan assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employer contributions | ' | ' | 6.8 | 13.9 | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | 1.8 | ' |
Amounts recognized in our Consolidated Balance Sheets consist of: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued benefit liability included in other long-term liabilities | 284.9 | 300.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net periodic pension costs: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Service cost | ' | ' | ' | ' | 2.2 | 2 | 4.4 | 4 | 0.1 | 0.1 | 0.2 | 0.2 | ' | ' | ' | ' |
Interest cost | ' | ' | ' | ' | 4.4 | 4.7 | 8.8 | 9.4 | 5.7 | 5.7 | 11.4 | 11.3 | 0.4 | 0.5 | 0.8 | 1 |
Expected return on plan assets | ' | ' | ' | ' | -4.8 | -4.4 | -9.6 | -8.8 | -6 | -5.6 | -12 | -11.1 | -0.1 | -0.1 | -0.2 | -0.2 |
Amortization of prior service costs | ' | ' | ' | ' | -0.1 | -0.7 | -0.2 | -1.4 | ' | ' | ' | ' | ' | ' | ' | ' |
Recognized actuarial loss | ' | ' | ' | ' | 3.9 | 2.4 | 7.8 | 4.8 | ' | ' | ' | ' | 0.1 | ' | 0.2 | ' |
Total net periodic pension costs | ' | ' | ' | ' | 5.6 | 4 | 11.2 | 8 | -0.2 | 0.2 | -0.4 | 0.4 | 0.4 | 0.4 | 0.8 | 0.8 |
Other defined benefit plans disclosures (Textuals) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash contributions | ' | ' | 6.8 | 13.9 | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | 1.8 | ' |
Estimated future employer contributions in current fiscal year | ' | ' | $16.70 | $16.70 | ' | ' | ' | ' | ' | ' | ' | ' | $1.80 | ' | $1.80 | ' |
STOCKHOLDERS_EQUITY_DETAILS
STOCKHOLDERS' EQUITY (DETAILS) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 |
Dividends [Line Items] | ' | ' | ' | ' |
Dividends payable - dividend per share | $0.21 | $0.20 | $0.42 | $0.40 |
Dividends payable - total maximum payment | ' | ' | $31.40 | $14.90 |
Cash dividends declared | ' | ' | 32 | 30.6 |
Share-based compensation arrangement by share-based payment award [Line Items] | ' | ' | ' | ' |
Incremental authorized shares | ' | ' | 1.5 | ' |
Stock-based compensation expense | ' | ' | ' | ' |
Stock-based compensation expense | 11.7 | 9.9 | 22.7 | 21.3 |
Stock-based compensation expense included in cost of revenues | 8.6 | 7.7 | 16.9 | 16.2 |
Stock-based compensation expense included in general and administrative expenses | 3.1 | 2.2 | 5.8 | 5.1 |
Stock-based compensation expense | 11.7 | 9.9 | 22.7 | 21.3 |
Equity, class of treasury stock [Line Items] | ' | ' | ' | ' |
Cost of common stock repurchased | ' | ' | 93.3 | 40 |
Employee Stock Purchase Plan [Member] | ' | ' | ' | ' |
Stock-based compensation expense | ' | ' | ' | ' |
Stock-based compensation expense | 0.2 | 0.1 | 0.3 | 0.3 |
Stock-based compensation expense | 0.2 | 0.1 | 0.3 | 0.3 |
Restricted Stock Awards And Units [Member] | ' | ' | ' | ' |
Share-based compensation arrangement by share-based payment award [Line Items] | ' | ' | ' | ' |
Restricted stock shares available for future grant | 1.8 | ' | 1.8 | ' |
Stock-based compensation expense | ' | ' | ' | ' |
Stock-based compensation expense | 11.5 | 9.8 | 22.4 | 21 |
Stock-based compensation expense | 11.5 | 9.8 | 22.4 | 21 |
Restricted Stock Awards (RSAs) [Member] | ' | ' | ' | ' |
Share-based compensation arrangement by share-based payment award [Line Items] | ' | ' | ' | ' |
Restricted stock issued | 3.1 | ' | 3.1 | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Shares | ' | ' | ' | ' |
Nonvested restricted stock awards and units - ending balance | 1.6 | ' | 1.6 | ' |
Cash dividends for period 1 [Member] | ' | ' | ' | ' |
Dividends [Line Items] | ' | ' | ' | ' |
Dividends payable - declaration date | ' | ' | 24-Feb-12 | ' |
Dividends payable - dividend per share | ' | ' | $0.20 | ' |
Dividends payable - record date | ' | ' | 16-Mar-12 | ' |
Dividends payable - total maximum payment | ' | ' | 15.2 | ' |
Dividends payable - payment date | ' | ' | 6-Apr-12 | ' |
Cash dividends for period 2 [Member] | ' | ' | ' | ' |
Dividends [Line Items] | ' | ' | ' | ' |
Dividends payable - declaration date | ' | ' | 4-May-12 | ' |
Dividends payable - dividend per share | ' | ' | $0.20 | ' |
Dividends payable - record date | ' | ' | 15-Jun-12 | ' |
Dividends payable - total maximum payment | ' | ' | 15.4 | ' |
Dividends payable - payment date | ' | ' | 6-Jul-12 | ' |
Cash dividends for period 3 [Member] | ' | ' | ' | ' |
Dividends [Line Items] | ' | ' | ' | ' |
Dividends payable - declaration date | ' | ' | 3-Aug-12 | ' |
Dividends payable - dividend per share | ' | ' | $0.20 | ' |
Dividends payable - record date | ' | ' | 14-Sep-12 | ' |
Dividends payable - total maximum payment | ' | ' | 15.4 | ' |
Dividends payable - payment date | ' | ' | 5-Oct-12 | ' |
Cash dividends for period 4 [Member] | ' | ' | ' | ' |
Dividends [Line Items] | ' | ' | ' | ' |
Dividends payable - declaration date | ' | ' | 2-Nov-12 | ' |
Dividends payable - dividend per share | ' | ' | $0.20 | ' |
Dividends payable - record date | ' | ' | 14-Dec-12 | ' |
Dividends payable - total maximum payment | ' | ' | 15.4 | ' |
Dividends payable - payment date | ' | ' | 4-Jan-13 | ' |
Cash dividends for period 5 [Member] | ' | ' | ' | ' |
Dividends [Line Items] | ' | ' | ' | ' |
Dividends payable - declaration date | ' | ' | 22-Feb-13 | ' |
Dividends payable - dividend per share | ' | ' | $0.21 | ' |
Dividends payable - record date | ' | ' | 15-Mar-13 | ' |
Dividends payable - total maximum payment | ' | ' | 16 | ' |
Dividends payable - payment date | ' | ' | 5-Apr-13 | ' |
Cash dividends for period 6 [Member] | ' | ' | ' | ' |
Dividends [Line Items] | ' | ' | ' | ' |
Dividends payable - declaration date | ' | ' | 3-May-13 | ' |
Dividends payable - dividend per share | ' | ' | $0.21 | ' |
Dividends payable - record date | ' | ' | 14-Jun-13 | ' |
Dividends payable - total maximum payment | ' | ' | 16 | ' |
Dividends payable - payment date | ' | ' | 5-Jul-13 | ' |
Cash dividends for period 7 [Member] | ' | ' | ' | ' |
Dividends [Line Items] | ' | ' | ' | ' |
Dividends payable - declaration date | ' | ' | 2-Aug-13 | ' |
Dividends payable - dividend per share | ' | ' | $0.21 | ' |
Dividends payable - record date | ' | ' | 13-Sep-13 | ' |
Dividends payable - payment date | ' | ' | 4-Oct-13 | ' |
Common Stock [Member] | ' | ' | ' | ' |
Equity, class of treasury stock [Line Items] | ' | ' | ' | ' |
Shares of common stock repurchased | 1 | ' | 2 | 1 |
Common stock repurchase - average price paid per share | $48.26 | ' | $45.55 | $40 |
Cost of common stock repurchased | $48.30 | ' | $93.30 | $40 |
SEGMENT_AND_RELATED_INFORMATIO2
SEGMENT AND RELATED INFORMATION (DETAILS) (USD $) | 3 Months Ended | 6 Months Ended | ||||||||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 28, 2012 | |||||
reportingunits | reportingunits | |||||||||
Segment additional assets information [Abstract] | ' | ' | ' | ' | ' | |||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | $256.20 | ' | $256.20 | ' | $278.30 | |||||
Property and equipment at cost, net | 647.1 | [1] | ' | 647.1 | [1] | ' | 687.5 | [1] | ||
Total assets | 8,977.50 | ' | 8,977.50 | ' | 9,261 | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 2,792 | 2,690.70 | 5,594.50 | 5,052.20 | ' | |||||
Equity in income (loss) of unconsolidated joint ventures | 17.9 | 17 | 42 | 45.7 | ' | |||||
URS operating income (loss) | 131 | [2] | 124 | [2] | 268.7 | [2] | 259.6 | [2] | ' | |
Operating income (loss) | 145.4 | 149.5 | 298 | 310.9 | ' | |||||
Depreciation and amortization | 66.1 | 55.8 | 133.6 | 93 | ' | |||||
Segment reporting disclosure (Textuals) [Abstract] | ' | ' | ' | ' | ' | |||||
Number of operating segments | ' | ' | 4 | ' | ' | |||||
Description of reportable segments | ' | ' | 'We operate our business through the following four segments: Infrastructure & Environment Division provides program management, planning, design, engineering, construction and construction management, operations and maintenance, and decommissioning and closure services to the U.S. federal government, state and local government agencies, and private sector clients in the U.S. and internationally. Federal Services Division provides services to various U.S. federal government agencies, primarily the Department of Defense. These services include program management, planning, design and engineering, systems engineering and technical assistance, construction and construction management, operations and maintenance, IT services, and decommissioning and closure. Energy & Construction Division provides program management, planning, design, engineering, construction and construction management, operations and maintenance, and decommissioning and closure services to the U.S. federal government, state and local government agencies, and private sector clients in the U.S. and internationally. Oil & Gas Division provides oilfield services, including rig transportation and fluid hauling services; oil and gas production services, including mechanical, electrical and instrumentation services; facility and pipeline construction; module fabrication; and maintenance services for the oil and gas industry in the U.S. and Canada. | ' | ' | |||||
Interim goodwill impairment review (Textuals) [Abstract] | ' | ' | ' | ' | ' | |||||
Number of reporting units whose book value exceeds its fair value | 3 | ' | 3 | ' | ' | |||||
Number of reporting units included in goodwill impairment review | 7 | ' | 7 | ' | ' | |||||
US Army [Member] | ' | ' | ' | ' | ' | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 313.8 | [3] | 443.6 | [3] | ' | ' | ' | |||
Segment reporting disclosure of entity's reportable segments revenues by major customers [Abstract] | ' | ' | ' | ' | ' | |||||
Percentage of revenues from major customers | 11.00% | [3] | 16.00% | [3] | 14.00% | [3] | 18.00% | [3] | ' | |
Revenues | ' | ' | 760 | [3],[4] | 885.4 | [3] | ' | |||
DOE [Member] | ' | ' | ' | ' | ' | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 212.7 | 249.7 | ' | ' | ' | |||||
Segment reporting disclosure of entity's reportable segments revenues by major customers [Abstract] | ' | ' | ' | ' | ' | |||||
Percentage of revenues from major customers | 8.00% | 9.00% | 8.00% | 10.00% | ' | |||||
Revenues | ' | ' | 424.5 | 509.7 | ' | |||||
Federal Market Sector [Member] | ' | ' | ' | ' | ' | |||||
Segment reporting disclosure of entity's reportable segments revenues by major customers [Abstract] | ' | ' | ' | ' | ' | |||||
Percentage of revenues from major customers | 34.00% | 43.00% | 36.00% | 46.00% | ' | |||||
Infrastructure and Environment [Member] | ' | ' | ' | ' | ' | |||||
Segment additional assets information [Abstract] | ' | ' | ' | ' | ' | |||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 9.3 | ' | 9.3 | ' | 8.1 | |||||
Property and equipment at cost, net | 137.5 | ' | 137.5 | ' | 141 | |||||
Total assets | 2,175.50 | ' | 2,175.50 | ' | 2,267.60 | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 977.5 | 966.3 | 1,910.90 | [5] | 1,930.40 | ' | ||||
Equity in income (loss) of unconsolidated joint ventures | -0.1 | -1 | 1 | [5] | -0.1 | ' | ||||
URS operating income (loss) | 61.4 | [2] | 62.1 | [2] | 102.1 | [2],[5] | 107.6 | [2] | ' | |
Operating income (loss) | 61.5 | 62.6 | 102.7 | [5] | 108.6 | ' | ||||
Depreciation and amortization | 12.4 | 14.3 | 24.9 | [5] | 28.7 | ' | ||||
Infrastructure and Environment [Member] | US Army [Member] | ' | ' | ' | ' | ' | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 31.6 | [3] | 43.6 | [3] | ' | ' | ' | |||
Segment reporting disclosure of entity's reportable segments revenues by major customers [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | 64.6 | [3] | 87.4 | [3] | ' | |||
Infrastructure and Environment [Member] | DOE [Member] | ' | ' | ' | ' | ' | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 1 | 2.3 | ' | ' | ' | |||||
Segment reporting disclosure of entity's reportable segments revenues by major customers [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | 2.1 | 3.4 | ' | |||||
Federal Services [Member] | ' | ' | ' | ' | ' | |||||
Segment additional assets information [Abstract] | ' | ' | ' | ' | ' | |||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 5.1 | ' | 5.1 | ' | 5.7 | |||||
Property and equipment at cost, net | 40.8 | ' | 40.8 | ' | 36.6 | |||||
Total assets | 1,559.10 | ' | 1,559.10 | ' | 1,642.80 | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 559.2 | 718.2 | 1,237.40 | [6] | 1,435.30 | ' | ||||
Equity in income (loss) of unconsolidated joint ventures | 1.9 | 1.7 | 3.3 | [6] | 3.3 | ' | ||||
URS operating income (loss) | 68.6 | [2] | 59.8 | [2] | 167.8 | [2],[6] | 152.7 | [2] | ' | |
Operating income (loss) | 68.6 | 59.8 | 167.8 | [6] | 152.7 | ' | ||||
Depreciation and amortization | 8.8 | 9.1 | 18.1 | [6] | 18.7 | ' | ||||
Federal Services [Member] | US Army [Member] | ' | ' | ' | ' | ' | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 253.8 | [3] | 374.4 | [3] | ' | ' | ' | |||
Segment reporting disclosure of entity's reportable segments revenues by major customers [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | 642.2 | [3] | 747.5 | [3] | ' | |||
Federal Services [Member] | DOE [Member] | ' | ' | ' | ' | ' | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 6.5 | 7.2 | ' | ' | ' | |||||
Segment reporting disclosure of entity's reportable segments revenues by major customers [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | 10.4 | 13.1 | ' | |||||
Energy and Construction [Member] | ' | ' | ' | ' | ' | |||||
Segment additional assets information [Abstract] | ' | ' | ' | ' | ' | |||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 112.1 | ' | 112.1 | ' | 124.5 | |||||
Property and equipment at cost, net | 58.1 | ' | 58.1 | ' | 60.1 | |||||
Total assets | 3,208.90 | ' | 3,208.90 | ' | 3,253.90 | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 728.5 | 777.9 | 1,393.30 | 1,503.60 | ' | |||||
Equity in income (loss) of unconsolidated joint ventures | 14.9 | 15.7 | 36.6 | 41.9 | ' | |||||
URS operating income (loss) | 22 | [2] | 29.6 | [2] | 34.3 | [2] | 52.4 | [2] | ' | |
Operating income (loss) | 36.6 | 54.8 | 63.7 | 102.9 | ' | |||||
Depreciation and amortization | 11.3 | 12.1 | 23.3 | 23.8 | ' | |||||
Energy and Construction [Member] | US Army [Member] | ' | ' | ' | ' | ' | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 28.4 | [3] | 25.6 | [3] | ' | ' | ' | |||
Segment reporting disclosure of entity's reportable segments revenues by major customers [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | 53.2 | [3],[4] | 50.5 | [3] | ' | |||
Energy and Construction [Member] | DOE [Member] | ' | ' | ' | ' | ' | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 205.2 | 240.2 | ' | ' | ' | |||||
Segment reporting disclosure of entity's reportable segments revenues by major customers [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | 412 | 493.2 | ' | |||||
Oil and Gas [Member] | ' | ' | ' | ' | ' | |||||
Segment additional assets information [Abstract] | ' | ' | ' | ' | ' | |||||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 129.7 | ' | 129.7 | ' | 140 | |||||
Property and equipment at cost, net | 381.4 | ' | 381.4 | ' | 422.9 | |||||
Total assets | 1,823.90 | ' | 1,823.90 | ' | 1,904.40 | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | 555.9 | [7] | 277.5 | [7] | 1,139.70 | [7] | 277.5 | [7] | ' | |
Equity in income (loss) of unconsolidated joint ventures | 1.2 | [7] | 0.6 | [7] | 1.1 | [7] | 0.6 | [7] | ' | |
URS operating income (loss) | 1.9 | [2],[7] | 3.2 | [2],[7] | 10.1 | [2],[7] | 3.2 | [2],[7] | ' | |
Operating income (loss) | 1.6 | [7] | 3 | [7] | 9.4 | [7] | 3 | [7] | ' | |
Depreciation and amortization | 31.5 | [7] | 18.7 | [7] | 63.1 | [7] | 18.7 | [7] | ' | |
Corporate [Member] | ' | ' | ' | ' | ' | |||||
Segment additional assets information [Abstract] | ' | ' | ' | ' | ' | |||||
Property and equipment at cost, net | 29.3 | ' | 29.3 | ' | 26.9 | |||||
Total assets | 210.1 | ' | 210.1 | ' | 192.3 | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
URS operating income (loss) | -22.9 | [8] | -30.7 | [8] | -45.6 | [8] | -56.3 | [8] | ' | |
Operating income (loss) | -22.9 | [8] | -30.7 | [8] | -45.6 | [8] | -56.3 | [8] | ' | |
Depreciation and amortization | 2.1 | [8] | 1.6 | [8] | 4.2 | [8] | 3.1 | [8] | ' | |
Inter-segment Eliminations and Other [Member] | ' | ' | ' | ' | ' | |||||
Segment additional income statement information [Abstract] | ' | ' | ' | ' | ' | |||||
Revenues | ($29.10) | ($49.20) | ($86.80) | ($94.60) | ' | |||||
[1] | The unamortized computer software costs were $72.7 million and $71.1 million, respectively, as of June 28, 2013 and December 28, 2012. | |||||||||
[2] | We are providing information regarding URS operating income (loss) by segment because management uses this information to assess performance and make decisions about resource allocation. URS operating income is defined as segment operating income after reductions for pre-tax noncontrolling interests. | |||||||||
[3] | The U.S. Army includes U.S. Army Corps of Engineers. | |||||||||
[4] | Leasehold improvements are amortized over the length of the lease or estimated useful life, whichever is less. | |||||||||
[5] | The operating results of Scott Wilson have been included in our consolidated results since the acquisition on September 10, 2010. | |||||||||
[6] | The operating results of Apptis have been included in our consolidated results since the acquisition on June 1, 2011. | |||||||||
[7] | The operating results of Flint have been included in our consolidated results since the acquisition on May 14, 2012. | |||||||||
[8] | Corporate includes expenses related to corporate functions and acquisition-related expenses. |
SEGMENT_AND_RELATED_INFORMATIO3
SEGMENT AND RELATED INFORMATION (DETAILS 2) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | ||||
Segment reporting other significant reconciling item [Line Items] | ' | ' | ' | ' | ||||
URS operating income (loss) | $131 | [1] | $124 | [1] | $268.70 | [1] | $259.60 | [1] |
Noncontrolling interests | 14.4 | 25.5 | 29.3 | 51.3 | ||||
Operating income (loss) | 145.4 | 149.5 | 298 | 310.9 | ||||
Infrastructure and Environment [Member] | ' | ' | ' | ' | ||||
Segment reporting other significant reconciling item [Line Items] | ' | ' | ' | ' | ||||
URS operating income (loss) | 61.4 | [1] | 62.1 | [1] | 102.1 | [1],[2] | 107.6 | [1] |
Noncontrolling interests | 0.1 | 0.5 | 0.6 | 1 | ||||
Operating income (loss) | 61.5 | 62.6 | 102.7 | [2] | 108.6 | |||
Federal Services [Member] | ' | ' | ' | ' | ||||
Segment reporting other significant reconciling item [Line Items] | ' | ' | ' | ' | ||||
URS operating income (loss) | 68.6 | [1] | 59.8 | [1] | 167.8 | [1],[3] | 152.7 | [1] |
Operating income (loss) | 68.6 | 59.8 | 167.8 | [3] | 152.7 | |||
Energy and Construction [Member] | ' | ' | ' | ' | ||||
Segment reporting other significant reconciling item [Line Items] | ' | ' | ' | ' | ||||
URS operating income (loss) | 22 | [1] | 29.6 | [1] | 34.3 | [1] | 52.4 | [1] |
Noncontrolling interests | 14.6 | 25.2 | 29.4 | 50.5 | ||||
Operating income (loss) | 36.6 | 54.8 | 63.7 | 102.9 | ||||
Oil and Gas [Member] | ' | ' | ' | ' | ||||
Segment reporting other significant reconciling item [Line Items] | ' | ' | ' | ' | ||||
URS operating income (loss) | 1.9 | [1],[4] | 3.2 | [1],[4] | 10.1 | [1],[4] | 3.2 | [1],[4] |
Noncontrolling interests | -0.3 | -0.2 | -0.7 | -0.2 | ||||
Operating income (loss) | 1.6 | [4] | 3 | [4] | 9.4 | [4] | 3 | [4] |
Corporate [Member] | ' | ' | ' | ' | ||||
Segment reporting other significant reconciling item [Line Items] | ' | ' | ' | ' | ||||
URS operating income (loss) | -22.9 | [5] | -30.7 | [5] | -45.6 | [5] | -56.3 | [5] |
Operating income (loss) | ($22.90) | [5] | ($30.70) | [5] | ($45.60) | [5] | ($56.30) | [5] |
[1] | We are providing information regarding URS operating income (loss) by segment because management uses this information to assess performance and make decisions about resource allocation. URS operating income is defined as segment operating income after reductions for pre-tax noncontrolling interests. | |||||||
[2] | The operating results of Scott Wilson have been included in our consolidated results since the acquisition on September 10, 2010. | |||||||
[3] | The operating results of Apptis have been included in our consolidated results since the acquisition on June 1, 2011. | |||||||
[4] | The operating results of Flint have been included in our consolidated results since the acquisition on May 14, 2012. | |||||||
[5] | Corporate includes expenses related to corporate functions and acquisition-related expenses. |
SEGMENT_AND_RELATED_INFORMATIO4
SEGMENT AND RELATED INFORMATION (DETAILS 3) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 28, 2012 | |||
Revenues from external customers and long-lived assets [Line Items] | ' | ' | ' | ' | ' | |||
Revenues | $2,792 | $2,690.70 | $5,594.50 | $5,052.20 | ' | |||
Property and equipment at cost, net | $647.10 | [1] | ' | $647.10 | [1] | ' | $687.50 | [1] |
[1] | The unamortized computer software costs were $72.7 million and $71.1 million, respectively, as of June 28, 2013 and December 28, 2012. |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (DETAILS) | 6 Months Ended | ||||||||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 28, 2013 | Jun. 28, 2013 | Jun. 14, 2013 | Jun. 28, 2013 | Jun. 28, 2013 | Jun. 28, 2013 | Jun. 28, 2013 | Jun. 28, 2013 |
USAID Egyptian Projects | New Orlean Levee Failure Class Action Litigation [Member] | Canadian Pipeline Contract [Member] | UK Joint Venture [Member] | UK Joint Venture [Member] | DOE Deactivation, Demolition and Removal Project [Member] | Bolivian Mine Services Agreement [Member] | Indemnification of Joint Venture Partner [Member] | Guarantee of Foreign Credit Facilities and Bank Guarantee Lines [Member] | |
USD ($) | USD ($) | CAD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||
lawsuits | |||||||||
Guarantee Obligations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Guarantee obligations current carrying value | ' | ' | ' | ' | ' | ' | ' | $25 | ' |
Bank guarantee outstanding under foreign credit facilities and other banking arrangements | ' | ' | ' | ' | ' | ' | ' | ' | 33.7 |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency allegations | 'In November 2004, the federal government filed an action in the United States District Court for the District of Idaho against WGI Delaware, Contrack International, Inc., and MISR Sons Development S.A.E., an Egyptian construction company, asserting violations under the Federal False Claims Act, the Federal Foreign Assistance Act of 1961, as well as common law theories of payment by mistake and unjust enrichment. | 'Plaintiffs allege that defendants were negligent in their design, construction and/or maintenance of the New Orleans levees. Specifically, as to WGI Ohio, plaintiffs allege that work WGI Ohio performed adjacent to the Industrial Canal damaged the levee and floodwall, causing or contributing to breaches and flooding. | 'In January 2010, a pipeline owner filed an action in the Court of Queen’s Bench of Alberta, Canada against Flint, a company we acquired in May 2012, as well as against a number of other defendants, alleging that the defendants negligently provided pipe coating and insulation system services, engineering, design services, construction services, and other work, causing damage to and abandonment of the line. The pipeline owner alleges it has suffered approximately C$85.0 million in damages in connection with the abandonment and replacement of the pipeline. | ' | ' | ' | 'The mine owner disputed the fair market value of mining equipment it was required to repurchase under the terms of the mine services agreement. Subsequently, on November 16, 2010, Washington Group Bolivia received a formal claim asserting breaches of contractual obligations and warranties, including the failure to adhere to the requisite professional standard of care while performing the mine services agreement. | ' | ' |
Loss contingency damages sought | 'The federal government seeks damages and civil penalties for violations of the statutes as well as a refund of the approximately $373.0 million paid to WGI Delaware under the specified contracts. | 'Fifty-nine personal injury and property damage class action lawsuits were filed in Louisiana State and federal court against several defendants, including WGI Ohio, seeking $200.0 billion in damages plus attorneys’ fees and costs. Plaintiffs are residents and property owners who claim to have incurred damages from the breach and failure of the hurricane protection levees and floodwalls in the wake of Hurricane Katrina. All 59 lawsuits were pleaded as class actions but none have yet been certified as class actions. Along with WGI Ohio, the U.S. Army Corps of Engineers, the Board for the Orleans Levee District, and its insurer, St. Paul Fire and Marine Insurance Company were also named as defendants. At this time WGI Ohio and the Army Corps of Engineers are the remaining defendants. These 59 lawsuits, along with other hurricane-related cases not involving WGI Ohio, were consolidated in the United States District Court for the Eastern District of Louisiana (“District Court”). | 'The pipeline owner alleges it has suffered approximately C$85.0 million in damages in connection with the abandonment and replacement of the pipeline | ' | ' | ' | 'On June 17, 2011, Washington Group Bolivia received a formal demand for arbitration pursuant to the Rules of Arbitration of the International Chamber of Commerce asserting claims up to $52.6 million. | ' | ' |
Loss contingency actions taken by court arbitrator or mediator | 'On April 24, 2012, the Bankruptcy Court ruled that the bulk of the federal government’s claims under the False Claims and the Federal Foreign Assistance Acts are not barred. On November 7, 2012, WGI Delaware appealed the Bankruptcy Court’s decision to the Ninth Circuit Bankruptcy Appellate Panel and oral arguments were presented to the Appellate Panel on July 19, 2013. On August 2, 2013, the Appellate Panel affirmed the Bankruptcy Court’s decision. | 'WGI Ohio filed a motion for summary judgment, seeking dismissal on grounds that government contractors are immune from liability. On December 15, 2008, the District Court granted WGI Ohio’s motion for summary judgment, but several plaintiffs appealed that decision to the United States Fifth Circuit Court of Appeals on April 27, 2009. On September 14, 2010, the Court of Appeals reversed the District Court’s summary judgment decision and WGI Ohio’s dismissal, and remanded the case back to the District Court for further litigation. On August 1, 2011, the District Court decided that the government contractor immunity defense would not be available to WGI Ohio at trial, but would be an issue for appeal. Five of the cases were tried in District Court from September 12, 2012 through October 3, 2012. On April 12, 2013, the District Court ruled in favor of WGI Ohio and the Army Corps of Engineers, finding that the five plaintiffs failed to prove that WGI Ohio’s or the Army Corps of Engineers’ actions caused the failure of the Industrial Canal floodwall during Hurricane Katrina | ' | ' | 'On June 14, 2013, the Crown Court issued a fine equivalent to approximately $1.2 million. On July 9, 2013, our U.K. joint venture appealed the Crown Court’s decision to the Court of Appeal Criminal Division. | ' | ' | ' | ' |
Loss contingency actions taken by plaintiff and defendant | 'USAID Egyptian Projects: In March 2003, Washington Group International, Inc., a Delaware company, (“WGI Delaware”), our wholly owned subsidiary, was notified by the Department of Justice that the federal government was considering civil litigation against WGI Delaware for potential violations of the U.S. Agency for International Development (“USAID”) source, origin, and nationality regulations in connection with five of WGI Delaware’s USAID-financed host-country projects located in Egypt beginning in the early 1990s. In November 2004, the federal government filed an action in the United States District Court for the District of Idaho against WGI Delaware, Contrack International, Inc., and MISR Sons Development S.A.E., an Egyptian construction company, asserting violations under the Federal False Claims Act, the Federal Foreign Assistance Act of 1961, as well as common law theories of payment by mistake and unjust enrichment. The federal government seeks damages and civil penalties for violations of the statutes as well as a refund of the approximately $373.0 million paid to WGI Delaware under the specified contracts. WGI Delaware has denied any liability in the action and contests the federal government’s damage allegations and its entitlement to recovery. All USAID projects under the contracts have been completed and are fully operational. In March 2005, WGI Delaware filed a motion in Idaho District Court to dismiss the federal government’s claims or to stay the Idaho action and also a motion in Bankruptcy Court in Nevada to dismiss the government’s claims for failure to give appropriate notice or otherwise preserve its claims. In August 2005, the Bankruptcy Court ruled that all federal government claims were barred. The federal government appealed the Bankruptcy Court's order to the United States District Court for the District of Nevada. In March 2006, the Idaho District Court stayed that action during the pendency of the federal government's appeal of the Bankruptcy Court's ruling. In December 2006, the Nevada District Court reversed the Bankruptcy Court’s order and remanded the matter back to the Bankruptcy Court for further proceedings. WGI Delaware renewed its motion in Bankruptcy Court, and in November 2008, the Bankruptcy Court ruled that the federal government’s common law claims of unjust enrichment and payment by mistake are barred, and could no longer be pursued. On April 24, 2012, the Bankruptcy Court ruled that the bulk of the federal government’s claims under the False Claims and the Federal Foreign Assistance Acts are not barred. On November 7, 2012, WGI Delaware appealed the Bankruptcy Court’s decision to the Ninth Circuit Bankruptcy Appellate Panel and oral arguments were presented to the Appellate Panel on July 19, 2013. On August 2, 2013, the Appellate Panel affirmed the Bankruptcy Court’s decision. WGI Delaware intends to continue to defend this matter vigorously; however, WGI Delaware cannot provide assurance that it will be successful in these efforts. The potential range of loss and the resolution of these matters cannot be determined at this time primarily due to the very limited factual record that exists in light of our limited ability to evaluate discovery that has been conducted so far at this early stage of the Idaho litigation; the fact that the matter involves unique and complex bankruptcy, international, and federal regulatory legal issues; the uncertainty concerning legal theories and their potential resolution by the courts; and the duration of this matter, as well as a number of additional factors. | 'New Orleans Levee Failure Class Action Litigation: From July 1999 through May 2005, Washington Group International, Inc., an Ohio company (“WGI Ohio”), a wholly owned subsidiary acquired by us on November 15, 2007, performed demolition, site preparation, and environmental remediation services for the U.S. Army Corps of Engineers on the east bank of the Inner Harbor Navigation Canal (the “Industrial Canal”) in New Orleans, Louisiana. On August 29, 2005, Hurricane Katrina devastated New Orleans. The storm surge created by the hurricane overtopped the Industrial Canal levee and floodwall, flooding the Lower Ninth Ward and other parts of the city. Fifty-nine personal injury and property damage class action lawsuits were filed in Louisiana State and federal court against several defendants, including WGI Ohio, seeking $200.0 billion in damages plus attorneys’ fees and costs. Plaintiffs are residents and property owners who claim to have incurred damages from the breach and failure of the hurricane protection levees and floodwalls in the wake of Hurricane Katrina. All 59 lawsuits were pleaded as class actions but none have yet been certified as class actions. Along with WGI Ohio, the U.S. Army Corps of Engineers, the Board for the Orleans Levee District, and its insurer, St. Paul Fire and Marine Insurance Company were also named as defendants. At this time WGI Ohio and the Army Corps of Engineers are the remaining defendants. These 59 lawsuits, along with other hurricane-related cases not involving WGI Ohio, were consolidated in the United States District Court for the Eastern District of Louisiana (“District Court”). Plaintiffs allege that defendants were negligent in their design, construction and/or maintenance of the New Orleans levees. Specifically, as to WGI Ohio, plaintiffs allege that work WGI Ohio performed adjacent to the Industrial Canal damaged the levee and floodwall, causing or contributing to breaches and flooding. WGI Ohio did not design, construct, repair or maintain any of the levees or the floodwalls that failed during or after Hurricane Katrina. Rather, WGI Ohio performed work adjacent to the Industrial Canal as a contractor for the federal government. WGI Ohio filed a motion for summary judgment, seeking dismissal on grounds that government contractors are immune from liability. On December 15, 2008, the District Court granted WGI Ohio’s motion for summary judgment, but several plaintiffs appealed that decision to the United States Fifth Circuit Court of Appeals on April 27, 2009. On September 14, 2010, the Court of Appeals reversed the District Court’s summary judgment decision and WGI Ohio’s dismissal, and remanded the case back to the District Court for further litigation. On August 1, 2011, the District Court decided that the government contractor immunity defense would not be available to WGI Ohio at trial, but would be an issue for appeal. Five of the cases were tried in District Court from September 12, 2012 through October 3, 2012. On April 12, 2013, the District Court ruled in favor of WGI Ohio and the Army Corps of Engineers, finding that the five plaintiffs failed to prove that WGI Ohio’s or the Army Corps of Engineers’ actions caused the failure of the Industrial Canal floodwall during Hurricane Katrina. On July 1, 2013, WGI Ohio filed a motion for summary judgment in District Court to dismiss all other related cases as a result of the District Court’s April 2013 decision. WGI Ohio intends to continue to defend these matters vigorously; however, WGI Ohio cannot provide assurance that it will be successful in these efforts. The potential range of loss and the resolution of these matters cannot be determined at this time primarily due to the likelihood of an appeal, the unknown number of individual plaintiffs who are actually asserting claims against WGI Ohio; the uncertainty regarding the nature and amount of each individual plaintiff’s damage claims; uncertainty concerning legal theories and factual bases that plaintiffs may present and their resolution by courts or regulators; and uncertainty about the plaintiffs’ claims, if any, that might survive certain key motions of our affiliate, as well as a number of additional factors. On July 1, 2013, WGI Ohio filed a motion for summary judgment in District Court to dismiss all other related cases as a result of the District Court’s April 2013 decision. | 'Canadian Pipeline Contract: In January 2010, a pipeline owner filed an action in the Court of Queen’s Bench of Alberta, Canada against Flint, a company we acquired in May 2012, as well as against a number of other defendants, alleging that the defendants negligently provided pipe coating and insulation system services, engineering, design services, construction services, and other work, causing damage to and abandonment of the line. The pipeline owner alleges it has suffered approximately C$85.0 million in damages in connection with the abandonment and replacement of the pipeline. Flint was the construction contractor on the pipeline project. Other defendants were responsible for engineering and design-services and for specifying and providing the actual pipe, insulation and coating materials used in the line. In January 2011, the pipeline owner served a Statement of Claim on Flint and, in September 2011, Flint filed a Statement of Defense denying that the damages to the coating system of the pipeline were caused by any negligence or breach of contract of Flint. Flint believes the damages were caused or contributed to by the negligence of one or more of the co-defendants and/or by the negligent operation of the pipeline owner. Flint intends to continue to defend this matter vigorously; however, it cannot provide assurance that it will be successful, in whole or in part, in these efforts. The potential range of loss and the resolution of this matter cannot be determined at this time primarily due to the early stage of the discovery; the substantial uncertainty regarding the actual cause of the damage to or loss of the line; the nature and amount of each individual damage claim against the various defendants; and the uncertainty concerning legal theories and factual bases that the customer may present against all or some of the defendants. | ' | 'U.K. Joint Venture: On April 12, 2010, one of our U.K. joint ventures sent several bags of low level non-exempt radioactive waste to a waste disposal facility that was not licensed to handle such waste. On November 15, 2012, the U.K. Environment Agency and the U.K. Department for Transport initiated environmental regulatory proceedings against our U.K. joint venture in the Workington Magistrates’ Court under the U.K. Environmental Permitting Regulations 2010, the Radioactive Substances Act 1993, the Carriage of Dangerous Goods and the use of Transportable Pressure Equipment Regulations 2009. On February 7, 2013, our U.K. joint venture entered a plea of guilty before the Magistrates’ Court and the matter was referred to the Carlisle Crown Court (the “Crown Court”) for sentencing. On June 14, 2013, the Crown Court issued a fine equivalent to approximately $1.2 million. On July 9, 2013, our U.K. joint venture appealed the Crown Court’s decision to the Court of Appeal Criminal Division. | 'DOE Deactivation, Demolition, and Removal Project: WGI Ohio executed a cost-reimbursable task order with the DOE in 2007 to provide deactivation, demolition and removal services at a New York State project site that, during 2010, experienced contamination and performance issues. In February 2011, WGI Ohio and the DOE executed a Task Order Modification that changed some cost-reimbursable contract provisions to at-risk. The Task Order Modification, including subsequent amendments, requires the DOE to pay all project costs up to $105.9 million, requires WGI Ohio and the DOE to equally share in all project costs incurred from $105.9 million to $145.9 million, and requires WGI Ohio to pay all project costs exceeding $145.9 million. In addition, in September 2011, WGI Ohio voluntarily paid a civil penalty related to the contamination incident. Through June 28, 2013, WGI Ohio has incurred total project costs of $244.4 million and has recorded cumulative project losses of $16.3 million. Due to unanticipated requirements and permitting delays by federal and state agencies, as well as delays and related ground stabilization activities caused by Hurricane Irene, WGI Ohio has been required to perform work outside the scope of the Task Order Modification. Based on changes and delays to date, requests for equitable adjustment (“REA”) amounting to $47.1 million and proposals related to the hurricane-caused impacts and other directed changes in the amount of $117.5 million have been submitted to the DOE for approval. WGI Ohio also expects to submit additional REAs of at least $17.0 million to the DOE. Through June 28, 2013, the DOE authorized an additional $31.2 million of funding primarily related to the hurricane-caused impacts. During 2013, WGI Ohio has submitted several certified claims against the DOE pursuant to the Contracts Disputes Acts seeking recovery of $112.5 million of the above unfunded REA and proposal costs incurred through April 2013 and $5.0 million of fee on the expanded work scope. The final project completion costs are not currently estimable due to continuing delays in permitting, other delays, and approval of a final project plan. WGI Ohio can provide no certainty that it will recover the $112.5 million in submitted DOE claims for costs incurred through April 2013 related to REAs, hurricane-caused work or other directed changes, as well as any other project costs after April 2013 that WGI Ohio is obligated to incur to finalize and complete this project, any of which could negatively impact URS’ future results of operations. | 'Bolivian Mine Services Agreement: In 2009, a mine service agreement performed by our wholly owned subsidiary, Washington Group Bolivia, was unilaterally terminated for convenience by the mine owner. The mine owner disputed the fair market value of mining equipment it was required to repurchase under the terms of the mine services agreement. Subsequently, on November 16, 2010, Washington Group Bolivia received a formal claim asserting breaches of contractual obligations and warranties, including the failure to adhere to the requisite professional standard of care while performing the mine services agreement. On June 17, 2011, Washington Group Bolivia received a formal demand for arbitration pursuant to the Rules of Arbitration of the International Chamber of Commerce asserting claims up to $52.6 million. Washington Group Bolivia brought a $50 million counterclaim on August 3, 2012 against the mine owner asserting claims of wrongful termination and lost productivity. Arbitration on the mine owner’s claims and Washington Group Bolivia’s counterclaims commenced before the International Chamber of Commerce and concluded in December 2012. In the course of the arbitration proceedings, the mine owner has reduced its claims to approximately $32.2 million, while Washington Group Bolivia has refined its counterclaim amount to not more than $62.9 million. Washington Group Bolivia intends to continue to defend this matter vigorously; however, we cannot provide assurance that it will be successful in these efforts. While Washington Group Bolivia believes that the mine owner’s claims are largely without merit, the potential range of loss and the resolution of these matters cannot be determined at this time due to a number of factors, including the uncertainty of how the arbitration tribunal will apply the multiple legal theories and factual bases for the parties’ respective claims and defenses and the added complexity that comes from the fact that the parties, project location and applicable law span multiple countries and jurisdictions. Washington Group Bolivia brought a $50 million counterclaim on August 3, 2012 against the mine owner asserting claims of wrongful termination and lost productivity. Arbitration on the mine owner’s claims and Washington Group Bolivia’s counterclaims commenced before the International Chamber of Commerce and concluded in December 2012. In the course of the arbitration proceedings, the mine owner has reduced its claims to approximately $32.2 million, while Washington Group Bolivia has refined its counterclaim amount to not more than $62.9 million. | ' | ' |
Cumulative project losses | ' | ' | ' | ' | ' | 16.3 | ' | ' | ' |
Total damages against all defendants claimed in the legal matter | 373 | 200,000 | 85 | 1.2 | ' | ' | 52.6 | ' | ' |
Amount of counterclaim | ' | ' | ' | ' | ' | ' | 50 | ' | ' |
Maximum amount of counterclaim | ' | ' | ' | ' | ' | ' | 62.9 | ' | ' |
Task order modification costs threshold below to be paid by customer | ' | ' | ' | ' | ' | 105.9 | ' | ' | ' |
Task order modification costs to be paid equally by customer and company - range minimum | ' | ' | ' | ' | ' | 105.9 | ' | ' | ' |
Task order modification costs to be paid equally by customer and company - range maximum | ' | ' | ' | ' | ' | 145.9 | ' | ' | ' |
Task order modification costs threshold above to be paid by Company | ' | ' | ' | ' | ' | 145.9 | ' | ' | ' |
Requests for equitable adjustment | ' | ' | ' | ' | ' | 47.1 | ' | ' | ' |
Additional requests for equitable adjustment expected to be submitted | ' | ' | ' | ' | ' | 17 | ' | ' | ' |
Project reimbursement request arising from acts of nature | ' | ' | ' | ' | ' | 117.5 | ' | ' | ' |
Total project costs | ' | ' | ' | ' | ' | 244.4 | ' | ' | ' |
Loss contingency, number of lawsuits filed | ' | 59 | ' | ' | ' | ' | ' | ' | ' |
Loss contingency, number of settled and dismissed claims | ' | 5 | ' | ' | ' | ' | ' | ' | ' |
Authorized project reimbursements arising from acts of nature | ' | ' | ' | ' | ' | 31.2 | ' | ' | ' |
Loss contingency revised value of damages sought | ' | ' | ' | ' | ' | ' | 32.2 | ' | ' |
Claim for unfunded requests for equitable adjustment (REA) | ' | ' | ' | ' | ' | 112.5 | ' | ' | ' |
Claim for fee | ' | ' | ' | ' | ' | $5 | ' | ' | ' |
RECLASSIFICATIONS_OUT_OF_ACCUM2
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (DETAILS) (USD $) | 3 Months Ended | 6 Months Ended | ||||||||||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Mar. 29, 2013 | Dec. 28, 2012 | Mar. 30, 2012 | Dec. 30, 2011 | ||||
Amounts reclassified from accumulated other comprehensive income [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Balances | ($182.60) | ' | ($182.60) | ' | ' | ($113.20) | ' | ' | ||||
Pension And Post-Retirement Adjustments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Other comprehensive income before reclassification | -0.2 | ' | 1.4 | 0.1 | ' | ' | ' | ' | ||||
Amounts reclassified from accumulated other comprehensive income [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Prior service costs, net of tax | ' | -0.4 | [1] | -0.1 | [1] | -0.8 | [1] | ' | ' | ' | ' | |
Actuarial gains (losses), net of tax | 2.4 | [1] | 1.4 | [1] | 4.8 | [1] | 2.8 | [1] | ' | ' | ' | ' |
Net current-period other comprehensive income | 2.2 | 1 | 6.1 | 2.1 | ' | ' | ' | ' | ||||
Balances | -129.3 | -106.7 | -129.3 | -106.7 | -131.5 | -135.4 | -107.7 | -108.8 | ||||
Foreign Currency Translation Adjustments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Other comprehensive income before reclassification | -38.9 | -34 | -75 | -12.9 | ' | ' | ' | ' | ||||
Amounts reclassified from accumulated other comprehensive income [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Translation adjustment realized upon liquidation of foreign subsidiaries, net of tax | -0.3 | [2] | 0.3 | [2] | -0.5 | [2] | 0.3 | [2] | ' | ' | ' | ' |
Net current-period other comprehensive income | -39.2 | -33.7 | -75.5 | -12.6 | ' | ' | ' | ' | ||||
Balances | -52.7 | -14.6 | -52.7 | -14.6 | -13.5 | 22.8 | 19.1 | -2 | ||||
Loss on Derivative Instruments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Other comprehensive income before reclassification | ' | ' | ' | -0.7 | ' | ' | ' | ' | ||||
Amounts reclassified from accumulated other comprehensive income [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Net current-period other comprehensive income | ' | ' | ' | -0.7 | ' | ' | ' | ' | ||||
Balances | -0.6 | -0.7 | -0.6 | -0.7 | -0.6 | -0.6 | -0.7 | ' | ||||
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Other comprehensive income before reclassification | -39.1 | -34 | -73.6 | -13.5 | ' | ' | ' | ' | ||||
Amounts reclassified from accumulated other comprehensive income [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Prior service costs, net of tax | ' | -0.4 | [1] | -0.1 | [1] | -0.8 | [1] | ' | ' | ' | ' | |
Translation adjustment realized upon liquidation of foreign subsidiaries, net of tax | -0.3 | [2] | 0.3 | [2] | -0.5 | [2] | 0.3 | [2] | ' | ' | ' | ' |
Actuarial gains (losses), net of tax | 2.4 | [1] | 1.4 | [1] | 4.8 | [1] | 2.8 | [1] | ' | ' | ' | ' |
Net current-period other comprehensive income | -37 | -32.7 | -69.4 | -11.2 | ' | ' | ' | ' | ||||
Balances | ($182.60) | ($122) | ($182.60) | ($122) | ($145.60) | ($113.20) | ($89.30) | ($110.80) | ||||
[1] | These accumulated other comprehensive income components are included in the computation of net periodic pension costs, which were recorded in bCost of revenuesb and bGeneral and administrative expensesb in our Condensed Consolidated Statements of Operations. See Note 12, bEmployee Retirement and Post-Retirement Benefit Plans,b for more information. | |||||||||||
[2] | This accumulated other comprehensive income component is reclassified into bCost of revenuesb in our Condensed Consolidated Statements of Operations. |
OTHER_COMPREHENSIVE_INCOME_LOS
OTHER COMPREHENSIVE INCOME LOSS AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (DETAILS) (USD $) | Jun. 28, 2013 | Dec. 28, 2012 |
In Millions, unless otherwise specified | ||
Other comprehensive income (loss) [Line Items] | ' | ' |
Balances | ($182.60) | ($113.20) |
CONDENSED_CONSOLIDATING_FINANC2
CONDENSED CONSOLIDATING FINANCIAL INFORMATION (DETAILS) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 28, 2012 | Dec. 30, 2011 | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 29, 2012 | Dec. 30, 2011 | Dec. 30, 2011 | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Mar. 15, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Mar. 15, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Dec. 28, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Dec. 28, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Dec. 28, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Jun. 28, 2013 | Dec. 28, 2012 | Dec. 28, 2012 | |||
As Reported [Member] | As Reported [Member] | As Reported [Member] | As Reported [Member] | Restatement Adjustments [Member] | Restatement Adjustments [Member] | Restatement Adjustments [Member] | Restatement Adjustments [Member] | Senior Notes [Member] | Senior Notes [Member] | 3.85% Senior Notes (net of discount) [Member] | 3.85% Senior Notes (net of discount) [Member] | 3.85% Senior Notes (net of discount) [Member] | 5.00% Senior Notes (net of discount) [Member] | 5.00% Senior Notes (net of discount) [Member] | 5.00% Senior Notes (net of discount) [Member] | Issuer parent [Member] | Issuer parent [Member] | Issuer parent [Member] | Issuer parent [Member] | Issuer parent [Member] | Issuer parent [Member] | Issuer parent [Member] | Issuer parent [Member] | Issuer parent [Member] | Issuer parent [Member] | Issuer Fox LP [Member] | Issuer Fox LP [Member] | Issuer Fox LP [Member] | Issuer Fox LP [Member] | Issuer Fox LP [Member] | Issuer Fox LP [Member] | Issuer Fox LP [Member] | Guarantors [Member] | Guarantors [Member] | Guarantors [Member] | Guarantors [Member] | Guarantors [Member] | Guarantors [Member] | Guarantors [Member] | Guarantors [Member] | Guarantors [Member] | Guarantors [Member] | Non-guarantors [Member] | Non-guarantors [Member] | Non-guarantors [Member] | Non-guarantors [Member] | Non-guarantors [Member] | Non-guarantors [Member] | Non-guarantors [Member] | Non-guarantors [Member] | Non-guarantors [Member] | Non-guarantors [Member] | Eliminations [Member] | Eliminations [Member] | Eliminations [Member] | Eliminations [Member] | Eliminations [Member] | Eliminations [Member] | Eliminations [Member] | Eliminations [Member] | Eliminations [Member] | Eliminations [Member] | ||||||||||
As Reported [Member] | As Reported [Member] | Restatement Adjustments [Member] | Restatement Adjustments [Member] | Revision Adjustments [Member] | As Reported [Member] | As Reported [Member] | As Reported [Member] | As Reported [Member] | Restatement Adjustments [Member] | Restatement Adjustments [Member] | Revision Adjustments [Member] | As Reported [Member] | As Reported [Member] | Restatement Adjustments [Member] | Restatement Adjustments [Member] | Revision Adjustments [Member] | As Reported [Member] | As Reported [Member] | Restatement Adjustments [Member] | Restatement Adjustments [Member] | Revision Adjustments [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Cash and cash equivalents | $234.10 | $287.80 | $234.10 | $287.80 | ' | ' | $234.10 | $314.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $36.90 | $36.90 | $36.90 | $36.90 | ' | $36.90 | $14.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $21.40 | $22.80 | $21.40 | $22.80 | ' | $21.40 | $16.30 | ' | ' | ' | $197.50 | $232.20 | $197.50 | $232.20 | ' | $197.50 | $285.40 | ' | ' | ' | ($21.70) | ($4.10) | ($21.70) | ($4.10) | ' | ($21.70) | ($1.60) | ' | ' | ' | |||
Accounts receivable, including retentions | 1,469 | ' | 1,469 | ' | 1,554.80 | ' | 1,469 | 1,554.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 808.6 | ' | 808.6 | ' | 771.3 | 808.6 | 771.2 | ' | ' | 0.1 | 684.4 | ' | 684.4 | ' | 811.8 | 684.4 | 811.8 | ' | ' | ' | -24 | ' | -24 | ' | -28.3 | -24 | -28.2 | ' | ' | -0.1 | |||
Costs and accrued earnings in excess of billings on contracts | 1,330.70 | ' | 1,330.70 | ' | 1,384.30 | ' | 1,330.70 | 1,384.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 721.4 | ' | 721.4 | ' | 876.9 | 721.4 | 876.9 | ' | ' | ' | 618.1 | ' | 618.1 | ' | 515.7 | 618.1 | 515.7 | ' | ' | ' | -8.8 | ' | -8.8 | ' | -8.3 | -8.8 | -8.3 | ' | ' | ' | |||
Less receivable allowances | -63.8 | ' | -63.8 | ' | -69.7 | ' | -63.8 | -69.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -31 | ' | -31 | ' | -29.1 | -31 | -29.1 | ' | ' | ' | -32.8 | ' | -32.8 | ' | -40.6 | -32.8 | -40.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net accounts receivable | 2,735.90 | ' | 2,735.90 | ' | 2,869.40 | ' | 2,735.90 | 2,869.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,499 | ' | 1,499 | ' | 1,619.10 | 1,499 | 1,619 | ' | ' | 0.1 | 1,269.70 | ' | 1,269.70 | ' | 1,286.90 | 1,269.70 | 1,286.90 | ' | ' | ' | -32.8 | ' | -32.8 | ' | -36.6 | -32.8 | -36.5 | ' | ' | -0.1 | |||
Intercompany accounts receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,503 | ' | 1,503 | ' | 1,793.20 | 1,503 | 1,765.80 | ' | ' | 27.4 | 28.1 | ' | 28.1 | ' | 22.4 | 28.1 | 22.4 | 3,658 | ' | 3,658 | ' | 3,933.10 | 3,658 | 4,248.90 | ' | ' | -315.8 | 1,273.70 | ' | 1,273.70 | ' | 1,269 | 1,273.70 | 1,530.60 | ' | ' | -261.6 | -6,462.80 | ' | -6,462.80 | ' | -7,017.70 | -6,462.80 | -7,567.70 | ' | ' | 550 | |||
Deferred tax assets | 54.2 | ' | 54.2 | ' | 67.6 | ' | 54.2 | 67.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.7 | ' | 4.7 | ' | 6.8 | 4.7 | 6.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.3 | ' | 49.3 | ' | 60.3 | 49.3 | 60.3 | ' | ' | ' | 0.2 | ' | 0.2 | ' | 0.5 | 0.2 | 0.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Inventory | 55.1 | ' | 55.1 | ' | 61.5 | ' | 55.1 | 61.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.7 | ' | 2.7 | ' | 5.5 | 2.7 | 5.5 | ' | ' | ' | 52.4 | ' | 52.4 | ' | 56 | 52.4 | 56 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Other current assets | 222.4 | ' | 222.4 | ' | 204.2 | ' | 222.4 | 204.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41.3 | ' | 41.3 | ' | 38.2 | 41.3 | 38.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 76 | ' | 76 | ' | 65.5 | 76 | 65.5 | ' | ' | ' | 105.1 | ' | 105.1 | ' | 111.3 | 105.1 | 111.3 | ' | ' | ' | ' | ' | ' | ' | -10.8 | ' | -10.8 | ' | ' | ' | |||
Total current assets | 3,301.70 | ' | 3,301.70 | ' | 3,517.20 | ' | 3,301.70 | 3,517.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,585.90 | ' | 1,585.90 | ' | 1,852.60 | 1,585.90 | 1,825.20 | ' | ' | 27.4 | 28.1 | ' | 28.1 | ' | 22.4 | 28.1 | 22.4 | 5,306.40 | ' | 5,306.40 | ' | 5,699.80 | 5,306.40 | 6,015.50 | ' | ' | -315.7 | 2,898.60 | ' | 2,898.60 | ' | 3,009.10 | 2,898.60 | 3,270.70 | ' | ' | -261.6 | -6,517.30 | ' | -6,517.30 | ' | -7,066.70 | -6,517.30 | -7,616.60 | ' | ' | 549.9 | |||
Investments in and advances to subsidiaries and unconsolidated joint ventures | 256.2 | ' | 256.2 | ' | 278.3 | ' | 256.2 | 278.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,888.30 | ' | 5,888.30 | ' | 5,823.50 | 5,465.40 | 5,400.50 | 422.9 | 422.9 | 0.1 | 36 | ' | 36 | ' | 20.7 | 36 | 20.7 | 1,917 | ' | 1,917 | ' | 2,036.30 | 1,692.90 | 1,812 | 224.1 | 224.1 | 0.2 | 210.3 | ' | 210.3 | ' | 242.2 | 210.3 | 258.9 | ' | ' | -16.7 | -7,795.40 | ' | -7,795.40 | ' | -7,844.40 | -7,148.40 | -7,213.80 | -647 | -647 | 16.4 | |||
Property and equipment at cost, net | 647.1 | [1] | ' | 647.1 | [1] | ' | 687.5 | [1] | ' | 647.1 | 687.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29.3 | ' | 29.3 | ' | 26.9 | 29.3 | 26.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 160.1 | ' | 160.1 | ' | 159.7 | 160.1 | 159.7 | ' | ' | ' | 457.7 | ' | 457.7 | ' | 500.9 | 457.7 | 500.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets, net | 624.5 | ' | 624.5 | ' | 692.2 | ' | 624.5 | 692.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | ' | 0.2 | ' | 0.2 | 0.2 | 0.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 205.6 | ' | 205.6 | ' | 223.3 | 205.6 | 223.5 | ' | ' | -0.2 | 418.7 | ' | 418.7 | ' | 468.7 | 418.7 | 468.5 | ' | ' | 0.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Goodwill | 3,689 | ' | 3,689 | ' | 3,721.60 | ' | 3,214.50 | 3,247.10 | ' | ' | 474.5 | 474.5 | 474.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,029.10 | ' | 2,029.10 | ' | 2,029.10 | 1,778.70 | 1,778.70 | 250.4 | 250.4 | ' | 1,659.60 | ' | 1,659.60 | ' | 1,692.50 | 1,435.50 | 1,468.40 | 224.1 | 224.1 | ' | 0.3 | ' | 0.3 | ' | ' | 0.3 | ' | ' | ' | ' | |||
Other long-term assets | 459 | ' | 459 | ' | 364.2 | ' | 459 | 364.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.7 | ' | 20.7 | ' | 22.3 | 20.7 | 22.4 | ' | ' | -0.1 | ' | ' | ' | ' | ' | ' | ' | 362.9 | ' | 362.9 | ' | 231.3 | 362.9 | 231.3 | ' | ' | ' | 80.2 | ' | 80.2 | ' | 115.1 | 80.2 | 115.3 | ' | ' | -0.2 | -4.8 | ' | -4.8 | ' | -4.5 | -4.8 | -4.8 | ' | ' | 0.3 | |||
Total assets | 8,977.50 | ' | 8,977.50 | ' | 9,261 | ' | 8,503 | 8,786.50 | ' | ' | ' | 474.5 | 474.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,524.40 | ' | 7,524.40 | ' | 7,725.50 | 7,101.50 | 7,275.20 | 422.9 | 422.9 | 27.4 | 64.1 | ' | 64.1 | ' | 43.1 | 64.1 | 43.1 | 9,981.10 | ' | 9,981.10 | ' | 10,379.50 | 9,506.60 | 10,220.70 | 474.5 | 474.5 | -315.7 | 5,725.10 | ' | 5,725.10 | ' | 6,028.50 | 5,501 | 6,082.70 | 224.1 | 224.1 | -278.3 | -14,317.20 | ' | -14,317.20 | ' | -14,915.60 | -13,670.20 | -14,835.20 | -647 | -647 | 566.6 | |||
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Current portion of long-term debt | 85.7 | ' | 85.7 | ' | 71.8 | ' | 85.7 | 71.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.8 | ' | 30.8 | ' | 18.9 | 30.8 | 18.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.5 | ' | 10.5 | ' | 10 | 10.5 | 10 | ' | ' | ' | 44.4 | ' | 44.4 | ' | 42.9 | 44.4 | 42.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Accounts payable and subcontractors payable, including retentions | 680.2 | ' | 680.2 | ' | 803.5 | ' | 680.2 | 803.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9 | ' | 9 | ' | 4.2 | 9 | 4.1 | ' | ' | 0.1 | ' | ' | ' | ' | ' | ' | ' | 353.3 | ' | 353.3 | ' | 382.7 | 353.3 | 382.8 | ' | ' | -0.1 | 357.2 | ' | 357.2 | ' | 454.8 | 357.2 | 454.8 | ' | ' | ' | -39.3 | ' | -39.3 | ' | -38.2 | -39.3 | -38.2 | ' | ' | ' | |||
Accrued salaries and employee benefits | 487.9 | ' | 487.9 | ' | 558.8 | ' | 487.9 | 558.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.3 | ' | 35.3 | ' | 41 | 35.3 | 41.1 | ' | ' | -0.1 | ' | ' | ' | ' | ' | ' | ' | 304.8 | ' | 304.8 | ' | 362.7 | 304.8 | 362.6 | ' | ' | 0.1 | 147.8 | ' | 147.8 | ' | 155.1 | 147.8 | 155.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Billings in excess of costs and accrued earnings on contracts | 260.6 | ' | 260.6 | ' | 289.1 | ' | 260.6 | 289.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 122.3 | ' | 122.3 | ' | 146.3 | 122.3 | 146.4 | ' | ' | -0.1 | 138.5 | ' | 138.5 | ' | 143 | 138.5 | 143 | ' | ' | ' | -0.2 | ' | -0.2 | ' | -0.2 | -0.2 | -0.3 | ' | ' | 0.1 | |||
Intercompany accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,961.70 | ' | 2,961.70 | ' | 3,165.70 | 2,961.70 | 3,138.30 | ' | ' | 27.4 | 14.7 | ' | 14.7 | ' | 14.7 | 14.7 | 14.7 | 2,422.60 | ' | 2,422.60 | ' | 2,793.40 | 2,422.60 | 3,109.10 | ' | ' | -315.7 | 1,063.80 | ' | 1,063.80 | ' | 1,043.90 | 1,063.80 | 1,305.60 | ' | ' | -261.7 | -6,462.80 | ' | -6,462.80 | ' | -7,017.70 | -6,462.80 | -7,567.70 | ' | ' | 550 | |||
Short-term intercompany notes payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29.4 | ' | 29.4 | ' | 14.3 | 29.4 | 14.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.4 | ' | 20.4 | ' | 20 | 20.4 | 20 | ' | ' | ' | 21.6 | ' | 21.6 | ' | 21.6 | 21.6 | 599.2 | ' | ' | -577.6 | -71.4 | ' | -71.4 | ' | -55.9 | -71.4 | -633.5 | ' | ' | 577.6 | |||
Other current liabilities | 230.6 | ' | 230.6 | ' | 277.8 | ' | 230.6 | 277.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.4 | ' | 32.4 | ' | 59.5 | 32.4 | 59.4 | ' | ' | 0.1 | 8.2 | ' | 8.2 | ' | 8.6 | 8.2 | 8.6 | 144.7 | ' | 144.7 | ' | 146.2 | 144.7 | 146.3 | ' | ' | -0.1 | 66.8 | ' | 66.8 | ' | 78 | 66.8 | 74 | ' | ' | 4 | -21.5 | ' | -21.5 | ' | -14.5 | -21.5 | -10.5 | ' | ' | -4 | |||
Total current liabilities | 1,745 | ' | 1,745 | ' | 2,001 | ' | 1,745 | 2,001 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,098.60 | ' | 3,098.60 | ' | 3,303.60 | 3,098.60 | 3,276.10 | ' | ' | 27.5 | 22.9 | ' | 22.9 | ' | 23.3 | 22.9 | 23.3 | 3,378.60 | ' | 3,378.60 | ' | 3,861.30 | 3,378.60 | 4,177.20 | ' | ' | -315.9 | 1,840.10 | ' | 1,840.10 | ' | 1,939.30 | 1,840.10 | 2,774.60 | ' | ' | -835.3 | -6,595.20 | ' | -6,595.20 | ' | -7,126.50 | -6,595.20 | -8,250.20 | ' | ' | 1,123.70 | |||
Long-term debt | 2,005 | ' | 2,005 | ' | 1,992.50 | ' | 2,005 | 1,992.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 988.4 | ' | 988.4 | ' | 952.2 | 988.4 | 952.2 | ' | ' | ' | 699.6 | ' | 699.6 | ' | 699.6 | 699.6 | 699.6 | 16.7 | ' | 16.7 | ' | 16.9 | 16.7 | 16.9 | ' | ' | ' | 300.3 | ' | 300.3 | ' | 323.8 | 300.3 | 323.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Deferred tax liabilities | 382.3 | ' | 382.3 | ' | 379.9 | ' | 330.7 | 328.3 | ' | ' | -51.6 | 51.6 | 51.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 305.9 | ' | 305.9 | ' | 299.1 | 254.3 | 247.6 | 51.6 | 51.6 | -0.1 | 81 | ' | 81 | ' | 85.6 | 81 | 85.5 | ' | ' | 0.1 | -4.6 | ' | -4.6 | ' | -4.8 | -4.6 | -4.8 | ' | ' | ' | |||
Self-insurance reserves | 128 | ' | 128 | ' | 129.8 | ' | 128 | 129.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.6 | ' | 13.6 | ' | 18.3 | 13.6 | 18.3 | ' | ' | ' | 114.4 | ' | 114.4 | ' | 111.5 | 114.4 | 111.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Pension and post-retirement benefit obligations | 284.9 | ' | 284.9 | ' | 300.9 | ' | 284.9 | 300.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 177.4 | ' | 177.4 | ' | 185.4 | 177.4 | 185.4 | ' | ' | ' | 107.5 | ' | 107.5 | ' | 115.5 | 107.5 | 115.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Long-term intercompany notes payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 558.6 | ' | 558.6 | ' | 561.7 | 558.6 | 561.7 | ' | ' | ' | 1,259.90 | ' | 1,259.90 | ' | 1,265.40 | 1,259.90 | 687.8 | ' | ' | 577.6 | -1,818.50 | ' | -1,818.50 | ' | -1,827.10 | -1,818.50 | -1,249.50 | ' | ' | -577.6 | |||
Other long-term liabilities | 285.8 | ' | 285.8 | ' | 271 | ' | 285.8 | 271 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.8 | ' | 2.8 | ' | 2.8 | 2.8 | 2.9 | ' | ' | -0.1 | ' | ' | ' | ' | ' | ' | ' | 235.7 | ' | 235.7 | ' | 197.1 | 235.7 | 197 | ' | ' | 0.1 | 47.3 | ' | 47.3 | ' | 71.1 | 47.3 | 71.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total liabilities | 4,831 | ' | 4,831 | ' | 5,075.10 | ' | 4,779.40 | 5,023.50 | ' | ' | ' | 51.6 | 51.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,089.80 | ' | 4,089.80 | ' | 4,258.60 | 4,089.80 | 4,231.20 | ' | ' | 27.4 | 722.5 | ' | 722.5 | ' | 722.9 | 722.5 | 722.9 | 4,686.50 | ' | 4,686.50 | ' | 5,139.80 | 4,634.90 | 5,404.10 | 51.6 | 51.6 | -315.9 | 3,750.50 | ' | 3,750.50 | ' | 3,912.20 | 3,750.50 | 4,169.80 | ' | ' | -257.6 | -8,418.30 | ' | -8,418.30 | ' | -8,958.40 | -8,418.30 | -9,504.50 | ' | ' | 546.1 | |||
Commitments and contingencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
URS stockholders' equity | 4,008.60 | ' | 4,008.60 | ' | 4,044 | ' | 3,585.70 | 3,621.10 | ' | ' | ' | 422.9 | 422.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,008.60 | ' | 4,008.60 | ' | 4,044 | 3,585.70 | 3,621.10 | 422.9 | 422.9 | ' | 14.1 | ' | 14.1 | ' | 8 | 14.1 | 8 | 5,888.30 | ' | 5,888.30 | ' | 5,823.50 | 5,465.40 | 5,400.40 | 422.9 | 422.9 | 0.2 | 1,886.40 | ' | 1,886.40 | ' | 2,008.70 | 1,662.30 | 1,805.30 | 224.1 | 224.1 | -20.7 | -7,788.80 | ' | -7,788.80 | ' | -7,840.20 | -7,141.80 | -7,213.70 | -647 | -647 | 20.5 | |||
Intercompany notes receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -574 | ' | -574 | ' | -577.1 | -574 | -577.1 | ' | ' | ' | -672.5 | ' | -672.5 | ' | -687.8 | -672.5 | -687.8 | -593.7 | ' | -593.7 | ' | -583.8 | -593.7 | -583.8 | ' | ' | ' | -49.7 | ' | -49.7 | ' | -34.3 | -49.7 | -34.3 | ' | ' | ' | 1,889.90 | ' | 1,889.90 | ' | 1,883 | 1,889.90 | 1,883 | ' | ' | ' | |||
Total URS stockholders' equity | 4,008.60 | ' | 4,008.60 | ' | 4,044 | ' | 3,585.70 | 3,621.10 | ' | ' | ' | 422.9 | 422.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,434.60 | ' | 3,434.60 | ' | 3,466.90 | 3,011.70 | 3,044 | 422.9 | 422.9 | ' | -658.4 | ' | -658.4 | ' | -679.8 | -658.4 | -679.8 | 5,294.60 | ' | 5,294.60 | ' | 5,239.70 | 4,871.70 | 4,816.60 | 422.9 | 422.9 | 0.2 | 1,836.70 | ' | 1,836.70 | ' | 1,974.40 | 1,612.60 | 1,771 | 224.1 | 224.1 | -20.7 | -5,898.90 | ' | -5,898.90 | ' | -5,957.20 | -5,251.90 | -5,330.70 | -647 | -647 | 20.5 | |||
Noncontrolling interests | 137.9 | ' | 137.9 | ' | 141.9 | ' | 137.9 | 141.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 137.9 | ' | 137.9 | ' | 141.9 | 137.9 | 141.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total stockholders' equity | 4,146.50 | 3,992.40 | 4,146.50 | 3,992.40 | 4,185.90 | 3,907.30 | 3,723.60 | 3,763 | 3,569.50 | 3,484.40 | 422.9 | 422.9 | 422.9 | 422.9 | ' | ' | ' | ' | ' | ' | ' | ' | 3,434.60 | ' | 3,434.60 | ' | 3,466.90 | 3,011.70 | 3,044 | 422.9 | 422.9 | ' | -658.4 | ' | -658.4 | ' | -679.8 | -658.4 | -679.8 | 5,294.60 | ' | 5,294.60 | ' | 5,239.70 | 4,871.70 | 4,816.60 | 422.9 | 422.9 | 0.2 | 1,974.60 | ' | 1,974.60 | ' | 2,116.30 | 1,750.50 | 1,912.90 | 224.1 | 224.1 | -20.7 | -5,898.90 | ' | -5,898.90 | ' | -5,957.20 | -5,251.90 | -5,330.70 | -647 | -647 | 20.5 | |||
Total liabilities and stockholders' equity | 8,977.50 | ' | 8,977.50 | ' | 9,261 | ' | 8,503 | 8,786.50 | ' | ' | ' | 474.5 | 474.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,524.40 | ' | 7,524.40 | ' | 7,725.50 | 7,101.50 | 7,275.20 | 422.9 | 422.9 | 27.4 | 64.1 | ' | 64.1 | ' | 43.1 | 64.1 | 43.1 | 9,981.10 | ' | 9,981.10 | ' | 10,379.50 | 9,506.60 | 10,220.70 | 474.5 | 474.5 | -315.7 | 5,725.10 | ' | 5,725.10 | ' | 6,028.50 | 5,501 | 6,082.70 | 224.1 | 224.1 | -278.3 | -14,317.20 | ' | -14,317.20 | ' | -14,915.60 | -13,670.20 | -14,835.20 | -647 | -647 | 566.6 | |||
Disclosure Condensed Consolidating Statements of Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | 2,792 | 2,690.70 | 5,594.50 | 5,052.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,655.60 | 1,728.90 | 3,327 | 3,443.20 | ' | ' | ' | ' | ' | ' | 1,223.60 | 1,060.40 | 2,435.10 | 1,816 | ' | ' | ' | ' | ' | ' | -87.2 | -98.6 | -167.6 | -207 | ' | ' | ' | ' | ' | ' | |||
Cost of revenues | -2,641.60 | -2,527.50 | -5,292.90 | -4,730.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,535.60 | -1,616.50 | -3,084.80 | -3,209.50 | ' | ' | ' | ' | ' | ' | -1,193.20 | -1,009.60 | -2,375.70 | -1,728.20 | ' | ' | ' | ' | ' | ' | 87.2 | 98.6 | 167.6 | 207 | ' | ' | ' | ' | ' | ' | |||
General and administrative expenses | -22.9 | -19.4 | -45.6 | -39.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -23.8 | -18.1 | -46 | -38.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | -1.3 | 0.4 | -0.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Acquisition-related expenses | ' | -11.3 | ' | -16.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.6 | ' | -8.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -8.7 | ' | -8.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -474.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Equity in income (loss) in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66.3 | 54.3 | 132.2 | 131.2 | ' | ' | ' | ' | ' | ' | 7.7 | 4.4 | 15.4 | 4.4 | ' | ' | ' | 2.7 | 0.9 | 9 | 31.1 | ' | ' | ' | ' | ' | ' | -4.8 | -2.6 | -9.3 | -2.6 | ' | ' | ' | ' | ' | ' | -71.9 | -57 | -147.3 | -164.1 | ' | ' | ' | ' | ' | ' | |||
Equity in income (loss) of unconsolidated joint ventures | 17.9 | 17 | 42 | 45.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | 4.3 | 4.7 | 6.4 | ' | ' | ' | ' | ' | ' | 16.3 | 12.7 | 37.3 | 39.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Intercompany royalty and general and administrative charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31.3 | 35.3 | 68.7 | 73.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -25.7 | -31.6 | -58.7 | -66 | ' | ' | ' | ' | ' | ' | -5.6 | -3.7 | -10 | -7.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Operating income (loss) | 145.4 | 149.5 | 298 | 310.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 73.8 | 68.9 | 154.9 | 157.6 | ' | ' | ' | ' | ' | ' | 7.7 | 4.4 | 15.4 | 4.4 | ' | ' | ' | 98.6 | 86 | 197.2 | 205.2 | ' | ' | ' | ' | ' | ' | 37.2 | 47.2 | 77.8 | 107.8 | ' | ' | ' | ' | ' | ' | -71.9 | -57 | -147.3 | -164.1 | ' | ' | ' | ' | ' | ' | |||
Interest income (expense) | -21.5 | -20.7 | -42.6 | -30.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -8 | -13.1 | -15.9 | -22.4 | ' | ' | ' | ' | ' | ' | -8.6 | -4.7 | -16.7 | -4.7 | ' | ' | ' | ' | -0.2 | -0.4 | -0.5 | ' | ' | ' | ' | ' | ' | -4.9 | -2.7 | -9.6 | -2.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Intercompany interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.3 | 2 | 4.9 | 2.6 | ' | ' | ' | ' | ' | ' | 0.9 | 0.5 | 1.8 | 0.5 | ' | ' | ' | 8.9 | 4 | 17.9 | 4.5 | ' | ' | ' | ' | ' | ' | 0.4 | 0.5 | 0.7 | 1.8 | ' | ' | ' | ' | ' | ' | -12.5 | -7 | -25.3 | -9.4 | ' | ' | ' | ' | ' | ' | |||
Intercompany interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | -0.3 | -0.5 | -0.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.5 | -1.5 | -5 | -2.4 | ' | ' | ' | ' | ' | ' | -9.8 | -5.2 | -19.8 | -6.2 | ' | ' | ' | ' | ' | ' | 12.5 | 7 | 25.3 | 9.4 | ' | ' | ' | ' | ' | ' | |||
Other income (expenses) | -3.3 | -9.2 | -5.8 | -6.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.8 | ' | -0.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3.3 | -6.4 | -5.8 | -6.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income (loss) before income taxes | 120.6 | 119.6 | 249.6 | 273.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.9 | 54.7 | 143.4 | 136.7 | ' | ' | ' | ' | ' | ' | ' | 0.2 | 0.5 | 0.2 | ' | ' | ' | 105 | 88.3 | 209.7 | 206.8 | ' | ' | ' | ' | ' | ' | 19.6 | 33.4 | 43.3 | 94.1 | ' | ' | ' | ' | ' | ' | -71.9 | -57 | -147.3 | -164.1 | ' | ' | ' | ' | ' | ' | |||
Income tax benefit (expense) | -38.9 | -40.5 | -81.1 | -89.1 | ' | ' | ' | ' | ' | ' | -51.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.6 | -1.1 | -4.2 | -3.4 | ' | ' | ' | ' | ' | ' | 2.9 | 1.6 | 5.6 | 1.6 | ' | ' | ' | -38.7 | -34 | -77.5 | -75.6 | ' | ' | ' | ' | ' | ' | -2.5 | -7 | -5 | -11.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net income (loss) including noncontrolling interests | 81.7 | 79.1 | 168.5 | 184.6 | ' | ' | ' | ' | ' | ' | 422.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.3 | 53.6 | 139.2 | 133.3 | ' | ' | ' | ' | ' | ' | 2.9 | 1.8 | 6.1 | 1.8 | ' | ' | ' | 66.3 | 54.3 | 132.2 | 131.2 | ' | ' | ' | ' | ' | ' | 17.1 | 26.4 | 38.3 | 82.4 | ' | ' | ' | ' | ' | ' | -71.9 | -57 | -147.3 | -164.1 | ' | ' | ' | ' | ' | ' | |||
Noncontrolling interests in income of consolidated subsidiaries | -14.4 | -25.5 | -29.3 | -51.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -14.4 | -25.5 | -29.3 | -51.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net income (loss) attributable to URS | 67.3 | 53.6 | 139.2 | 133.3 | ' | ' | ' | ' | ' | ' | 422.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.3 | 53.6 | 139.2 | 133.3 | ' | ' | ' | ' | ' | ' | 2.9 | 1.8 | 6.1 | 1.8 | ' | ' | ' | 66.3 | 54.3 | 132.2 | 131.2 | ' | ' | ' | ' | ' | ' | 2.7 | 0.9 | 9 | 31.1 | ' | ' | ' | ' | ' | ' | -71.9 | -57 | -147.3 | -164.1 | ' | ' | ' | ' | ' | ' | |||
Comprehensive income (loss) attributable to URS | 30.3 | 20.9 | 69.8 | 122.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.3 | 20.9 | 69.8 | 122.1 | ' | ' | ' | ' | ' | ' | 2.9 | 1.8 | 6.1 | 1.8 | ' | ' | ' | 30.3 | 22 | 66.6 | 122.6 | ' | ' | ' | ' | ' | ' | -35.6 | -32.8 | -66.7 | 22.5 | ' | ' | ' | ' | ' | ' | 2.4 | 9 | -6 | -146.9 | ' | ' | ' | ' | ' | ' | |||
Disclosure Condensed Consolidating Statements of Cash Flows [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net cash from operating activities | ' | ' | 90.3 | 20.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -89.9 | -28.5 | ' | ' | ' | ' | ' | ' | ' | ' | 1.9 | ' | ' | ' | ' | ' | ' | 174 | -117.9 | ' | ' | ' | ' | ' | ' | ' | ' | 5.1 | 94.1 | ' | ' | ' | ' | ' | ' | ' | ' | -0.8 | 72.6 | ' | ' | ' | ' | ' | ' | |||
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Payments for business acquisitions, net of cash acquired | ' | ' | ' | -1,345.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,345.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Proceeds from disposal of property and equipment | ' | ' | 26 | 13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | 25.6 | 12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Payments in settlement of foreign currency forward contract | ' | ' | ' | -1,260.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,260.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Receipts in settlement of foreign currency forward contract | ' | ' | ' | 1,260.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,260.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Investments in unconsolidated joint ventures | ' | ' | -0.1 | -2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | -0.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Changes in restricted cash | ' | ' | 1.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Capital expenditures, less equipment purchased through capital leases and equipment notes | ' | ' | -45.9 | -49 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3.1 | -2.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15.4 | -22.8 | ' | ' | ' | ' | ' | ' | ' | ' | -27.4 | -23.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Investment in intercompany notes receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -555 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -800 | ' | ' | ' | ' | ' | ' | -555 | ' | ' | ' | ' | ' | ' | ' | ' | -15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | 1,910 | ' | ' | ' | ' | ' | ' | |||
Receipts from intercompany notes receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97.8 | ' | ' | ' | ' | ' | ' | ' | ' | 15.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30 | ' | ' | ' | ' | ' | ' | ' | ' | -15.3 | -127.8 | ' | ' | ' | ' | ' | ' | |||
Other intercompany investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 393.7 | -696 | ' | ' | ' | ' | ' | ' | ' | ' | -17.2 | ' | ' | ' | ' | ' | ' | 306.5 | -600.5 | ' | ' | ' | ' | ' | ' | ' | ' | -2.4 | -698.7 | ' | ' | ' | ' | ' | ' | ' | ' | -680.6 | 1,995.20 | ' | ' | ' | ' | ' | ' | |||
Net cash from investing activities | ' | ' | -18.3 | -1,384 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 390.6 | -1,156.20 | ' | ' | ' | ' | ' | ' | ' | ' | -1.9 | -800 | ' | ' | ' | ' | ' | 291.4 | -1,178.20 | ' | ' | ' | ' | ' | ' | ' | ' | -17.5 | -2,027 | ' | ' | ' | ' | ' | ' | ' | ' | -680.9 | 3,777.40 | ' | ' | ' | ' | ' | ' | |||
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Borrowings from long-term debt | ' | ' | ' | 998.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 198.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Payments on long-term debt | ' | ' | -2.3 | -3.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.2 | -3.1 | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Borrowings from revolving line of credit | ' | ' | 858.4 | 560 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 814.5 | 560 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Payments on revolving line of credit | ' | ' | -822.6 | -263.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -754.5 | -263.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -68.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net payments under foreign lines of credit and short-term notes | ' | ' | -14.6 | -6.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15.6 | -0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | -0.1 | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | -6.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net change in overdrafts | ' | ' | -13.4 | 30.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -26.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 54.6 | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | 2.6 | ' | ' | ' | ' | ' | ' | ' | ' | -19.3 | ' | ' | ' | ' | ' | ' | ' | |||
Payments on capital lease obligations | ' | ' | -9.1 | -5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.4 | -0.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.3 | -2.6 | ' | ' | ' | ' | ' | ' | ' | ' | -6.4 | -2.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Payments of debt issuance costs | ' | ' | ' | -8.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -8.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Excess tax benefits from stock-based compensation | ' | ' | 1.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Proceeds from employee stock purchases and exercises of stock options | ' | ' | 13.3 | 6.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.3 | 6.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Distributions to noncontrolling interests | ' | ' | -31.7 | -35.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -31.7 | -35.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Contributions and advances from noncontrolling interests | ' | ' | ' | 2.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Dividends paid | ' | ' | -31.4 | -14.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -31.4 | -14.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Repurchases of common stock | ' | ' | -93.3 | -40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -93.3 | -40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Intercompany notes borrowing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 555 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,355 | ' | ' | ' | ' | ' | ' | ' | ' | -15 | -1,910 | ' | ' | ' | ' | ' | ' | |||
Intercompany notes repayment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15.3 | -97.8 | ' | ' | ' | ' | ' | ' | ' | ' | 15.3 | 127.8 | ' | ' | ' | ' | ' | ' | |||
Other intercompany financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -227.4 | 647 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -460.7 | 690.6 | ' | ' | ' | ' | ' | ' | ' | ' | 7.5 | 657.6 | ' | ' | ' | ' | ' | ' | ' | ' | 680.6 | -1,995.20 | ' | ' | ' | ' | ' | ' | |||
Net cash from financing activities | ' | ' | -145.1 | 1,220.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -278.2 | 1,027.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800 | ' | ' | ' | ' | ' | -460.3 | 1,294.50 | ' | ' | ' | ' | ' | ' | ' | ' | -68.2 | 1,876.10 | ' | ' | ' | ' | ' | ' | ' | ' | 661.6 | -3,777.40 | ' | ' | ' | ' | ' | ' | |||
Net change in cash and cash equivalents | ' | ' | -73.1 | -142.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22.5 | -157 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.1 | -1.6 | ' | ' | ' | ' | ' | ' | ' | ' | -80.6 | -56.8 | ' | ' | ' | ' | ' | ' | ' | ' | -20.1 | 72.6 | ' | ' | ' | ' | ' | ' | |||
Effect of foreign exchange rate changes on cash and cash equivalents | ' | ' | -7.3 | -5.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.3 | -5.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Cash and cash equivalents at beginning of period | ' | ' | 314.5 | 436 | ' | ' | 234.1 | 314.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14.4 | 193.9 | ' | 36.9 | 14.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16.3 | 24.4 | ' | 21.4 | 16.3 | ' | ' | ' | ' | ' | 285.4 | 294.4 | ' | 197.5 | 285.4 | ' | ' | ' | ' | ' | -1.6 | -76.7 | ' | -21.7 | -1.6 | ' | ' | ' | |||
Cash and cash equivalents at end of period | 234.1 | 287.8 | 234.1 | 287.8 | ' | ' | 234.1 | 314.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36.9 | 36.9 | 36.9 | 36.9 | ' | 36.9 | 14.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21.4 | 22.8 | 21.4 | 22.8 | ' | 21.4 | 16.3 | ' | ' | ' | 197.5 | 232.2 | 197.5 | 232.2 | ' | 197.5 | 285.4 | ' | ' | ' | -21.7 | -4.1 | -21.7 | -4.1 | ' | -21.7 | -1.6 | ' | ' | ' | |||
Senior Notes and Canadian Notes [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Senior Notes, aggregate principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 | ' | ' | 600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Senior Notes, interest rate, stated percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.85% | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Senior Notes, future indebtedness threshold for guarantors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Senior Notes (net of discount) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 999.1 | ' | 399.6 | 399.5 | ' | 599.5 | 599.5 | ' | 300.4 | ' | 300.4 | ' | 300.4 | ' | ' | ' | ' | ' | 699.6 | ' | 699.6 | ' | 699.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Senior Notes, unamortized discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
[1] | The unamortized computer software costs were $72.7 million and $71.1 million, respectively, as of June 28, 2013 and December 28, 2012. |
GOODWILL_DETAILS
GOODWILL (DETAILS) (USD $) | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 28, 2012 |
reportingunits | |||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Balance | $692.20 | ' | ' |
Amortization expense | -54.5 | -42.6 | ' |
Balance | 624.5 | ' | ' |
Table of estimated future amortization expense of intangible assets [Abstract] | ' | ' | ' |
Total estimated future amortization expense | 624.5 | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | $3,689 | ' | $3,721.60 |
Interim goodwill impairment review (Textuals) [Abstract] | ' | ' | ' |
Number of reporting units whose book value exceeds its fair value | 3 | ' | ' |
Number of reporting units included in goodwill impairment review | 7 | ' | ' |
INCOME_TAXES_DETAILS
INCOME TAXES (DETAILS) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 |
Effective income tax rate continuing operations tax rate reconciliation [Abstract] | ' | ' | ' | ' |
Total income tax expense (benefit) | $38.90 | $40.50 | $81.10 | $89.10 |
INCOME_TAXES_DETAILS_2
INCOME TAXES (DETAILS 2) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 28, 2012 |
Deferred components of income tax expense: | ' | ' | ' | ' | ' |
Subtotal | ' | ' | $12.40 | $18.90 | ' |
Total income tax expense (benefit) | 38.9 | 40.5 | 81.1 | 89.1 | ' |
Geographic areas income before income taxes [Abstract] | ' | ' | ' | ' | ' |
Total income (loss) before income taxes and noncontrolling interests | 120.6 | 119.6 | 249.6 | 273.7 | ' |
Current deferred tax assets (liabilities): | ' | ' | ' | ' | ' |
Net current deferred tax assets | 54.2 | ' | 54.2 | ' | 67.6 |
Non-Current deferred tax assets (liabilities): | ' | ' | ' | ' | ' |
Net non-current deferred tax liabilities | ($382.30) | ' | ($382.30) | ' | ($379.90) |
SELECTED_QUARTERLY_FINANCIAL_D
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (DETAILS) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
In Millions, except Per Share data, unless otherwise specified | Jun. 28, 2013 | Jun. 29, 2012 | Jun. 28, 2013 | Jun. 29, 2012 | Dec. 30, 2011 | ||||
Restatement Adjustment [Member] | |||||||||
Selected Quarterly Financial Information (unaudited) [Abstract] | ' | ' | ' | ' | ' | ||||
Revenues | $2,792 | $2,690.70 | $5,594.50 | $5,052.20 | ' | ||||
Cost of revenues | -2,641.60 | -2,527.50 | -5,292.90 | -4,730.70 | ' | ||||
Acquisition-related expenses | ' | -11.3 | ' | -16.9 | ' | ||||
Goodwill impairment | ' | ' | ' | ' | -474.5 | ||||
Operating income (loss) | 145.4 | 149.5 | 298 | 310.9 | ' | ||||
Other income (expenses) | -3.3 | -9.2 | -5.8 | -6.7 | ' | ||||
Income tax benefit (expense) | -38.9 | -40.5 | -81.1 | -89.1 | -51.6 | ||||
Net income (loss) including noncontrolling interests | 81.7 | 79.1 | 168.5 | 184.6 | 422.9 | ||||
Noncontrolling interests in income of consolidated subsidiaries | -14.4 | -25.5 | -29.3 | -51.3 | ' | ||||
Net income (loss) attributable to URS | 67.3 | 53.6 | 139.2 | 133.3 | 422.9 | ||||
Earnings (loss) per share: | ' | ' | ' | ' | ' | ||||
Basic | $0.91 | $0.72 | $1.88 | $1.80 | ' | ||||
Diluted | $0.91 | $0.72 | $1.87 | $1.79 | ' | ||||
Weighted-average shares of common stock outstanding: | ' | ' | ' | ' | ' | ||||
Basic | 73.8 | [1] | 74.2 | [1] | 74.1 | [1] | 74.1 | [1] | ' |
Diluted | 74 | 74.6 | 74.4 | 74.4 | ' | ||||
Selected Quarterly Financial Information (Textuals) [Abstract] | ' | ' | ' | ' | ' | ||||
Goodwill impairment | ' | ' | ' | ' | 474.5 | ||||
Consolidated Statements of Operations Data [Abstract] | ' | ' | ' | ' | ' | ||||
Income (loss) before income taxes | 120.6 | 119.6 | 249.6 | 273.7 | ' | ||||
Income tax benefit (expense) | -38.9 | -40.5 | -81.1 | -89.1 | -51.6 | ||||
Net income (loss) including noncontrolling interests | 81.7 | 79.1 | 168.5 | 184.6 | 422.9 | ||||
Noncontrolling interests in income of consolidated subsidiaries | -14.4 | -25.5 | -29.3 | -51.3 | ' | ||||
Net income (loss) attributable to URS | $67.30 | $53.60 | $139.20 | $133.30 | $422.90 | ||||
[1] | Weighted-average shares of common stock outstanding is net of treasury stock. |