Willbros 8-K Other Events

Exhibit 99.2

Item 6. Selected Financial Data

SELECTED CONSOLIDATED FINANCIAL AND OTHER DATA

(Dollar amounts in thousands, except per share data)

	Year Ended December 31,
	2012			2011			2010			2009			2008
Statement of Operations Data:
Contract revenue	$	1,928,800		$	1,376,369		$	1,003,409		$	1,120,441		$	1,645,700
Operating expenses (income):
Contract		1,738,977			1,249,025			886,952			995,225			1,436,316
Amortization of intangibles		14,985			15,108			9,437			6,515			10,420
General and administrative		151,816			127,383			106,086			78,385			108,985
Goodwill impairment		8,067			178,575			60,000			—			62,295
Changes in fair value of contingent earn-out liability		—			(10,000	)		(45,340	)		—			—
Settlement of project dispute		—			8,236			—			—			—
Acquisition costs		—			—			10,055			2,499			—
Other charges		151			105			3,771			12,694			—
Operating income (loss)		14,804			(192,063	)		(27,552	)		25,123			27,684
Interest expense, net		(29,393	)		(45,035	)		(27,639	)		(8,411	)		(9,458	)
Other, net		(570	)		(539	)		1,553			(1,717	)		697
Loss on early extinguishment of debt		(3,405	)		(6,304	)		—			—			—
Income (loss) from continuing operations before income taxes		(18,564	)		(243,941	)		(53,638	)		14,995			18,923
Provision (benefit) for income taxes		4,727			(33,558	)		(28,951	)		6,003			14,703
Income (loss) from continuing operations		(23,291	)		(210,383	)		(24,687	)		8,992			4,220
Income (loss) from discontinued operations net of provision for income taxes		(5,944	)		(82,438	)		(11,142	)		(10,648	)		41,248
Net income (loss)		(29,235	)		(292,821	)		(35,829	)		19,640			45,468
Less: Income attributable to noncontrolling interest		(976	)		(1,195	)		(1,207	)		(1,817	)		(1,836	)
Net income (loss) attributable to Willbros Group, Inc.	$	(30,211	)	$	(294,016	)	$	(37,036	)	$	17,823		$	43,632
Reconciliation of net income (loss) attributable to Willbros Group, Inc.
Income (loss) from continuing operations	$	(23,291	)	$	(210,383	)	$	(24,687	)	$	8,992		$	4,220
Income (loss) from discontinued operations		(6,920	)		(83,633	)		(12,349	)		8,831			39,412
Net income (loss) attributable to Willbros Group, Inc.	$	(30,211	)	$	(294,016	)	$	(37,036	)	$	17,823		$	43,632
Basic income (loss) per share attributable to Company shareholders:
Continuing operations	$	(0.49	)	$	(4.43	)	$	(0.58	)	$	0.24		$	0.11
Discontinued operations		(0.14	)		(1.76	)		(0.29	)		0.22			1.02
Net income (loss)	$	(0.63	)	$	(6.19	)	$	(0.87	)	$	0.46		$	1.13
Diluted income (loss) per share attributable to Company shareholders:
Continuing operations	$	(0.49	)	$	(4.43	)	$	(0.58	)	$	0.23		$	0.11
Discontinued operations		(0.14	)		(1.76	)		(0.29	)		0.22			1.01
Net income (loss)	$	(0.63	)	$	(6.19	)	$	(0.87	)		0.45		$	1.12
Cash Flow Data:
Cash provided by (used in):
Operating activities	$	(35,738	)	$	11,713		$	46,871		$	47,304		$	179,071
Investing activities		22,236			58,376			(404,651	)		(34,036	)		(11,725	)
Financing activities		6,574			(147,296	)		297,795			(28,481	)		(47,469	)
Effect of exchange rate changes		(2,137	)		(449	)		2,402			6,135			(5,001	)
Balance Sheet Data (at period end):
Cash and cash equivalents	$	48,778		$	52,859		$	111,924		$	170,691		$	168,304
Working capital from continuing operations		210,746			121,538			219,980			244,128			233,430
Total assets		978,246			861,771			1,270,345			728,378			787,344
Total liabilities		771,913			630,193			746,805			240,383			343,209
Total debt		303,820			267,748			387,928			103,875			119,988
Stockholders’ equity		206,333			231,578			523,540			487,995			444,135

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Other Financial Data (excluding discontinued operations):
12 Month Backlog (at period end)(1)	$	1,010,365	$	768,869	$	671,289	$	368,000	$	554,717
Capital expenditures, excluding acquisitions		10,659		10,047		15,635		10,889		41,207
Adjusted EBITDA from continuing operations(2)		74,769		36,720		55,177		81,864		133,365
Number of employees (at period end):		12,054		8,810		7,260		3,714		6,512

⁽¹⁾  Backlog is anticipated contract revenue from uncompleted portions of existing contracts and contracts whose award is reasonably assured. MSA backlog is estimated for the remaining terms of the contract. MSA backlog is determined based on historical trends inherent in the MSAs, factoring in seasonal demand and projecting customer needs based on ongoing communications.

⁽²⁾  Adjusted EBITDA from continuing operations is included herein because it is one of the measures through which we assess our financial performance. Adjusted EBITDA from continuing operations is not calculated or presented in accordance with U.S. GAAP. For a definition of Adjusted EBITDA from continuing operations, a reconciliation of Adjusted EBITDA from continuing operations to income (loss) from continuing operations (its most directly comparable financial measure calculated and presented in accordance with U.S. GAAP), and additional information regarding this non-GAAP financial measure, see Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Other Financial Measures – Adjusted EBITDA from Continuing Operations.”

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