Sterling Infrastructure (STRL) 10-Q 8 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 04, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	STERLING CONSTRUCTION CO INC
Entity Central Index Key	874,238
Trading Symbol	strl
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		27,020,004
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 55,462	$ 83,953
Receivables, including retainage	140,877	133,931
Costs and estimated earnings in excess of billings on uncompleted contracts	40,013	37,112
Inventories	1,863	4,621
Receivables from and equity in construction joint ventures	12,485	11,380
Other current assets	6,479	7,529
Total current assets	257,179	278,526
Property and equipment, net	52,142	54,406
Goodwill	85,231	85,231
Intangibles, net	44,218	44,818
Other assets, net	265	317
Total assets	439,035	463,298
Current liabilities:
Accounts payable	85,123	97,457
Billings in excess of costs and estimated earnings on uncompleted contracts	54,689	62,374
Current maturities of long-term debt	1,057	3,978
Income taxes payable	63	81
Accrued compensation	9,011	9,054
Other current liabilities	8,519	9,348
Total current liabilities	158,462	182,292
Long-term liabilities:
Long-term debt, net of current maturities	85,106	86,160
Members' interest subject to mandatory redemption and undistributed earnings	43,923	47,386
Other long-term liabilities	1,252	1,271
Total long-term liabilities	130,281	134,817
Commitments and contingencies (Note 9)
Sterling stockholders’ equity:
Preferred stock, par value $0.01 per share; 1,000,000 shares authorized, none issued	0	0
Common stock, par value $0.01 per share; 38,000,000 shares authorized, 27,034,575 and 27,051,468 shares issued	270	271
Additional paid in capital	231,607	231,183
Retained deficit	(87,632)	(90,121)
Total Sterling common stockholders’ equity	144,245	141,333
Noncontrolling interests	6,047	4,856
Total equity	150,292	146,189
Total liabilities and equity	$ 439,035	$ 463,298

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	38,000,000	38,000,000
Common stock, shares issued (in shares)	27,034,575	27,051,468

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenues	$ 222,492	$ 153,416
Cost of revenues	(201,898)	(144,129)
Gross profit	20,594	9,287
General and administrative expenses	(13,100)	(10,604)
Other operating expense, net	(815)	(471)
Operating income (loss)	6,679	(1,788)
Interest income	129	41
Interest expense	(3,087)	(112)
Income (loss) before income taxes and noncontrolling interests in earnings	3,721	(1,859)
Income tax benefit (expense)	(41)	(27)
Net income (loss)	3,680	(1,886)
Noncontrolling interests in earnings	(1,191)	(371)
Net income (loss) attributable to Sterling common stockholders	$ 2,489	$ (2,257)
Net income (loss) per share attributable to Sterling common stockholders:
Basic (USD per share)	$ 0.09	$ (0.09)
Diluted (USD per share)	$ 0.09	$ (0.09)
Weighted average number of common shares outstanding used in computing per share amounts:
Basic (in shares)	26,854	25,022
Diluted (in shares)	27,078	25,022

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Changes in Equity (Unaudited) - 3 months ended Mar. 31, 2018 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid in Capital	Retained Deficit	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2017		27,051
Beginning balance at Dec. 31, 2017	$ 146,189	$ 271	$ 231,183	$ (90,121)	$ 4,856
Net income	3,680			2,489	1,191
Stock-based compensation (in shares)		(3)
Stock-based compensation	617		617
Other (in shares)		13
Other	(194)	$ (1)	(193)
Ending balance (in shares) at Mar. 31, 2018		27,035
Ending balance at Mar. 31, 2018	$ 150,292	$ 270	$ 231,607	$ (87,632)	$ 6,047

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income (loss) attributable to Sterling common stockholders	$ 2,489	$ (2,257)
Plus: Noncontrolling interests in earnings	1,191	371
Net income	3,680	(1,886)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	4,124	4,070
Gain on disposal of property and equipment	(250)	(358)
Stock-based compensation expense	617	640
Changes in operating assets and liabilities:
Contracts receivable	(6,946)	(6,957)
Costs and estimated earnings in excess of billings on uncompleted contracts	(2,901)	(1,770)
Inventories	2,759	(49)
Receivables from and equity in construction joint ventures	(1,105)	(760)
Other assets	1,102	(1,059)
Accounts payable	(12,334)	4,351
Billings in excess of costs and estimated earnings on uncompleted contracts	(7,685)	(1,444)
Accrued compensation and other liabilities	(891)	3,207
Members' interest subject to mandatory redemption and undistributed earnings	(3,463)	(1,047)
Net cash used in operating activities	(23,293)	(3,062)
Cash flows from investing activities:
Additions to property and equipment	(1,897)	(1,825)
Proceeds from sale of property and equipment	886	588
Net cash used in investing activities	(1,011)	(1,237)
Cash flows from financing activities:
Repayments – equipment-based term loan and other (Nations Facility)	0	(1,333)
Equipment based term loan (Oaktree Facility)	(4,679)	0
Other	492	(6)
Net cash used in financing activities	(4,187)	(1,339)
Net decrease in cash and cash equivalents	(28,491)	(5,638)
Cash and cash equivalents at beginning of period	83,953	42,785
Cash and cash equivalents at end of period	55,462	37,147
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	3,056	113
Non-cash items:
Transportation and construction equipment acquired through financing arrangements	$ 171	$ 70

Summary of Business and Signifi

Summary of Business and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Business and Significant Accounting Policies	1. Summary of Business and Significant Accounting Policies Business Summary Sterling Construction Company, Inc. (“Sterling” or “the Company”), a Delaware corporation, is a construction company that specializes in heavy civil construction and residential concrete projects, primarily in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah and other states in which there are feasible construction opportunities. Our heavy civil construction projects include highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects and parking structures. Our residential construction projects include concrete foundations for single-family homes. Presentation The condensed consolidated financial statements included herein have been prepared by Sterling, without audit, in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the Annual Report on Form 10-K for the year ended December 31, 2017 (“ 2017 Form 10-K”). Certain information and note disclosures prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been either condensed or omitted pursuant to SEC rules and regulations. The condensed consolidated financial statements reflect, in the opinion of management, all normal recurring adjustments necessary to present fairly the Company’s financial position at March 31, 2018 and the results of operations and cash flows for the periods presented. The December 31, 2017 condensed consolidated balance sheet data herein was derived from audited financial statements, but as discussed above, does not include all disclosures required by GAAP. Interim results may be subject to significant seasonal variations and the results of operations for the three months ended March 31, 2018 are not necessarily indicative of the results expected for the full year or subsequent quarters. Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Certain of the Company’s accounting policies require higher degrees of judgment than others in their application. These include the recognition of revenue and earnings from construction contracts over time, the valuation of long-term assets, income taxes, and purchase accounting, including intangibles and goodwill. Management continually evaluates all of its estimates and judgments based on available information and experience; however, actual results could differ from these estimates. Significant Accounting Policies The Company’s significant accounting policies are more fully described in Note 1 of the Notes to Consolidated Financial Statements in the 2017 Form 10-K. There have been no material changes to significant accounting policies since December 31, 2017 . Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of subsidiaries and construction joint ventures in which the Company has 50% or greater ownership interest or otherwise controls such entities. For investments in construction joint ventures that are not wholly-owned, but where the Company exercises control, the equity held by the remaining owners and their portions of net income (loss) are reflected in the balance sheet line item “ Noncontrolling interests ” in “Equity” and the statement of operations line item “ Noncontrolling interests in earnings ,” respectively. For investments in subsidiaries that are not wholly-owned, but where the Company exercises control and where the Company has a mandatorily redeemable interest, the equity held by the remaining owners and their portion of net income (loss) is reflected in the balance sheet line item “ Members' interest subject to mandatory redemption and undistributed earnings ” and the statement of operations line item “ Other operating expense, net ” respectively. All significant intercompany accounts and transactions have been eliminated in consolidation. Where the Company is a noncontrolling joint venture partner, and otherwise not required to consolidate the joint venture entity, its share of the operations of such construction joint venture is accounted for on a pro rata basis in the condensed consolidated statements of operations and as a single line item (“ Receivables from and equity in construction joint ventures ”) in the condensed consolidated balance sheets. This method is an acceptable modification of the equity method of accounting which is a common practice in the construction industry. Heavy Civil Construction The Company engages in various types of heavy civil construction projects principally for public (government) owners. Credit risk is minimal with public owners since the Company ascertains that funds have been appropriated by the governmental project owner prior to commencing work on such projects. While most public contracts are subject to termination at the election of the government entity, in the event of termination the Company is entitled to receive the contract price for completed work and reimbursement of termination-related costs plus a margin. Credit risk with private owners is mitigated by statutory mechanic’s liens, which give the Company high priority in the event of lien foreclosures following financial difficulties of private owners. Our contracts generally take 12 to 36 months to complete. The Company generally provides a one to two -year warranty for workmanship under its contracts when completed. Warranty claims historically have been insignificant. Revenues are recognized as performance obligations are satisfied over time (formerly known as percentage-of-completion method), measured by the ratio of costs incurred up to a given date to estimated total costs for each contract. This cost to cost measure is used because management considers it to be the best available measure of progress on these contracts. Contract costs include all direct material, labor, subcontract and other costs and those indirect costs related to contract performance, such as indirect salaries and wages, equipment repairs and depreciation, insurance and payroll taxes. Administrative and general expenses are charged to expense as incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions and estimated profitability, including those changes arising from contract penalty provisions and final contract settlements may result in revisions to costs and income and are recognized in the period in which the revisions are determined. Changes in estimated revenues and gross margin resulted in a net gain of $1.3 million and $0.8 million during the three months ended March 31, 2018 and 2017 , respectively , included in “ Operating income (loss) ” on the condensed consolidated statements of operations. Change orders are modifications of an original contract that effectively change the existing provisions of the contract without adding new provisions or terms. Change orders may include changes in specifications or designs, manner of performance, facilities, equipment, materials, sites and period of completion of the work. Either we or our customers may initiate change orders. The Company considers unapproved change orders to be contract variations for which we have customer approval for a change of scope but a price change associated with the scope change has not yet been agreed upon. Costs associated with unapproved change orders are included in the estimated costs to complete the contracts and are treated as project costs as incurred. The Company recognizes revenue equal to costs incurred on unapproved change orders when management determines approval to be probable. Unapproved change orders involve the use of estimates, and it is reasonably possible that revisions to the estimated costs and recoverable amounts may be required in future reporting periods to reflect changes in estimates or final agreements with customers. Change orders that are unapproved as to both price and scope are evaluated as claims. The Company considers claims to be amounts in excess of approved contract prices that we seek to collect from our customers or others for customer-caused delays, errors in specifications and designs, contract terminations, change orders that are either in dispute or are unapproved as to both scope and price, or other causes of unanticipated additional contract costs. Claims are included in the calculation of revenue when realization is probable and amounts can be reliably determined to the extent costs are incurred. To support these requirements, the existence of the following items must be satisfied: (i) the contract or other evidence provides a legal basis for the claim; or a legal opinion has been obtained, stating that under the circumstances there is a reasonable basis to support the claim; (ii) additional costs are caused by circumstances that were unforeseen at the contract date and are not the result of deficiencies in the contractor’s performance; (iii) costs associated with the claim are identifiable or otherwise determinable and are reasonable in view of the work performed; and (iv) the evidence supporting the claim is objective and verifiable, not based on management’s feel for the situation or on unsupported representations. Revenue in excess of contract costs incurred on claims is recognized when an agreement is reached with customers as to the value of the claims, which in some instances may not occur until after completion of work under the contract. Costs associated with claims are included in the estimated costs to complete the contracts and are treated as project costs when incurred. The Company has projects where we are in the process of negotiating, or awaiting final approval of, unapproved change orders and claims with our customers. The Company is proceeding with its contractual rights to recoup additional costs incurred from its customers based on completing work associated with change orders, including change orders with pending change order pricing, or claims related to significant changes in scope which resulted in substantial delays and additional costs in completing the work. Unapproved change order and claim information has been provided to our customers and negotiations with the customers are ongoing. If additional progress with an acceptable resolution is not reached, legal action will be taken. Based upon our review of the provisions of our contracts, specific costs incurred and other related evidence supporting the unapproved change orders, claims and our entitled unpaid project price, together in some cases as necessary with the views of the Company’s outside claim consultants, we concluded that it was appropriate to include the unapproved change order, claim and entitled unpaid project price amounts of $5.0 million , $6.0 million and $0.0 million , respectively, at March 31, 2018 , and $5.0 million , $5.0 million and $0.0 million , respectively, at December 31, 2017 , in “Costs and estimated earnings in excess of billings on uncompleted contracts” on our condensed consolidated balance sheets. We expect these matters will be resolved without a material adverse effect on our financial statements. However, unapproved change order and claim amounts are subject to negotiations which may cause actual results to differ materially from estimated and recorded amounts. Residential Construction Residential construction revenue and related profit are recognized when construction on the concrete foundation unit is completed (i.e., at a point in time). The time from starting construction to finishing is typically less than one month. Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-9, “Revenue from Contracts with Customers.” We adopted the requirements of the new standard effective January 1, 2018. See Note 3 “Revenue from Contracts with Customers.” Recently Issued Accounting Pronouncements In February 2016, the FASB issued its new lease accounting guidance in ASU No. 2016-2, “Leases” (Topic 842). Under the new guidance, lessees will be required to recognize for all leases (with the exception of short-term leases) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. The new standard is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of the adoption of this ASU to the Company’s consolidated financial statements and related disclosures. In August 2016, the FASB issued guidance in ASU No. 2016-15 (Topic 230): “Classification of Certain Cash Receipts and Cash Payments.” This update addresses specific cash flow issues with the objective of reducing existing diversity in practice. Early adoption is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company expects to adopt this guidance as required and does not expect a material impact to the Company’s consolidated financial statements.

Tealstone Acquisition

Tealstone Acquisition	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Tealstone Acquisition	2. Tealstone Acquisition General On April 3, 2017, the Company consummated the acquisition (the “Tealstone Acquisition”) of 100% of the outstanding stock of Tealstone Residential Concrete, Inc. and Tealstone Commercial, Inc. (collectively, “Tealstone”) from the stockholders thereof (the “Sellers”) for consideration consisting of $55,000,000 in cash, 1,882,058 shares of the Company’s common stock, and $5,000,000 of promissory notes issued to the Sellers. In addition, the Company will make $2,426,000 and $7,500,000 of deferred cash payments on the second and third anniversaries of the closing date, respectively, and up to an aggregate of $15,000,000 in earn-out payments if specified financial performance levels are achieved (subject to annual maximums) on each of the first, second, third and fourth anniversaries of the closing date to continuing Tealstone management or their affiliates. Tealstone focuses on concrete construction of residential foundations, parking structures, elevated slabs and other concrete work for leading homebuilders, multi-family developers and general contractors in both residential and commercial markets. This acquisition enables expansion into adjacent markets and diversification of revenue streams and customer base with higher margin work. Supplemental Pro Forma Information (Unaudited) The following unaudited pro forma condensed combined financial information (“the pro forma financial information”) gives effect to the acquisition of Tealstone by Sterling, accounted for as a business combination using the purchase method of accounting. The pro forma financial information reflects the Tealstone Acquisition and related events as if they occurred at the beginning of the period, and gives effect to pro forma events that are: directly attributable to the acquisition, factually supportable, and expected to have a continuing impact on the combined results of Sterling and Tealstone following the acquisition. The pro forma financial information includes adjustments to: (1) exclude transaction costs that were included in Sterling’s and Tealstone’s historical results and are expected to be non-recurring; (2) include additional intangibles amortization and net interest expense associated with the Tealstone Acquisition; and (3) include the pro forma results of Tealstone for the three months ended March 31, 2017. This pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved had the pro forma events taken place on the dates indicated. Further, the pro forma financial information does not purport to project the future operating results of the combined company following the Tealstone Acquisition. The pro forma for the three months ended March 31, 2017 (amounts in thousands): Pro forma revenue $ 194,925 Pro forma net loss attributable to Sterling $ (1,474 ) The Tealstone Acquisition during the three months ended March 31, 2018 , had revenue and income from operations of approximately $53.0 million and $6.8 million , respectively.

Revenue From Contracts With Cus

Revenue From Contracts With Customers	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue From Contracts With Customers	3. Revenue from Contracts with Customers On January 1, 2018, we adopted ASC 606, Revenue from Contracts with Customers (“new revenue standard”) to all contracts using the modified retrospective method. The adoption of the new revenue standard had no material impact on our condensed consolidated financial statements as it did not require a change in revenue recognition for either of our segments. As such, comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. We applied the new revenue standard's practical expedients as follows: ASC 606-10-65-1 permits the omission of prior-period information about our remaining performance obligations. ASC 606-10-32-18 allows the application of the new revenue recognition standard to a portfolio of contracts (or performance obligations) with similar characteristics rather than on a contract by contract basis. As the majority of our significant contracts are with government entities and major homebuilders that utilize contracts of a similar structure and nature, this approach would not yield a material difference from applying the guidance on a contract by contract basis. ASC 606-10-32-18 allows entities to waive the requirement to adjust the consideration amount for the effects of a significant financing component if the entity expects, at contract inception, that the period between its fulfillment of the performance obligation and receipt of the customer's payment is less than one year. ASC 606-10-32-2A allows entities to make an accounting policy election to exclude taxes assessed by and collected on behalf of government authorities from the transaction price allocated to the performance obligation. We have historically excluded such amounts from our revenues and will continue to do so under the new revenue standard. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in the new revenue standard. The contract transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of our contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. Some of our contracts have multiple performance obligations, most commonly due to the contract covering multiple phases of the product life cycle (design and construction). For contracts with multiple performance obligations, we allocate the contract transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. The primary method used to estimate standalone selling price is the expected cost plus a margin approach, under which we forecast our expected costs of satisfying a performance obligation and then add an appropriate margin for that distinct good or service. Performance Obligations Satisfied Over Time Revenue for our contracts that satisfy the criteria for over time recognition is recognized as the work progresses. The majority of our revenue is derived from long-term, heavy civil construction contracts and projects that typically span between 12 to 36 months . Our heavy civil construction contracts will continue to be recognized over time because of the continuous transfer of control to the customer as all of the work is performed at the customer’s site and, therefore, the customer controls the asset as it is being constructed. This continuous transfer of control to the customer is further supported by clauses in the contract that allow the customer to unilaterally terminate the contract for convenience, pay us for costs incurred plus a reasonable profit and take control of any work in process. Under the new revenue standard, the cost-to-cost measure of progress continues to best depict the transfer of control of assets to the customer, which occurs as we incur costs. Contract costs include labor, material, and indirect costs. Revenue from products and services transferred to customers over time accounted for 84% and 100% of our revenue for the three months ended March 31, 2018 and 2017 , respectively. Performance Obligations Satisfied at a Point in Time Revenue for our contracts that do not satisfy the criteria for over time recognition is recognized at a point in time. Substantially all of our revenue recognized at a point in time is for work performed by our residential construction segment. Unlike our heavy civil construction segment that uses a cost-to-cost input measure for performance, the residential construction segment utilizes an output measure for performance based on the completion of a unit of work (e.g., PO/job/slab). The typical time frame for completion of a residential slab is less than one month. Upon fulfillment of the performance obligation, the customer is provided an invoice (or equivalent) demonstrating transfer of control to the customer. We believe that point in time recognition remains appropriate for this segment and will continue to recognize revenues upon completion of the performance obligation and issuance of an invoice. Revenue from goods and services transferred to customers at a point in time accounted for 16% and 0% of our revenue for the three months ended March 31, 2018 and 2017 , respectively. Contract modifications are routine in the performance of our contracts. Contracts are often modified to account for changes in the contract specifications or requirements. In most instances, contract modifications are for goods or services that are not distinct, and, therefore, are accounted for as part of the existing contract. Assurance-type warranties are the only warranties provided by the company and, as such, we do not recognize revenue on warranty-related work. Pre-contract costs are generally charged to expense as incurred, but in certain cases their recognition may be deferred if specific probability criteria are met. We had no significant deferred pre-contract costs at March 31, 2018. Backlog On March 31, 2018 , we had $885 million of remaining performance obligations in our heavy civil construction segment, which we also refer to as backlog. We expect to recognize approximately 61% of our backlog as revenue during the remainder of 2018, and the balance thereafter. Contract Estimates Accounting for long-term contracts and programs involves the use of various techniques to estimate total contract revenue and costs. For long-term contracts, we estimate the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract and recognize that profit over the life of the contract. Contract estimates are based on various assumptions to project the outcome of future events that often span several years. These assumptions include labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials, and the performance of subcontractors. Variable Consideration Transaction price for our contracts may include variable consideration, which includes increases to transaction price for approved and unapproved change orders, claims and incentives, and reductions to transaction price for liquidated damages. Change orders, claims and incentives are generally not distinct from the existing contract due to the significant integration service provided in the context of the contract and are accounted for as a modification of the existing contract and performance obligation. We estimate variable consideration for a performance obligation at the most likely amount to which we expect to be entitled (or the most likely amount we expect to incur in the case of liquidated damages), utilizing estimation methods that best predict the amount of consideration to which we will be entitled (or will be incurred in the case of liquidated damages). We include variable consideration in the estimated transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur or when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in transaction price are based largely on an assessment of our anticipated performance and all information (historical, current and forecasted) that is reasonably available to us. The effect of variable consideration on the transaction price of a performance obligation is recognized as an adjustment to revenue on a cumulative catch-up basis. To the extent unapproved change orders and claims reflected in transaction price (or excluded from transaction price in the case of liquidated damages) are not resolved in our favor, or to the extent incentives reflected in transaction price are not earned, there could be reductions in, or reversals of, previously recognized revenue. No adjustment on any one contract was material to our condensed consolidated financial statements for the three months ended March 31, 2018 , and March 31, 2017 . Revenue by Segment The following table presents total revenue from operations by reportable segment for the three months ended March 31, 2018 and 2017 (amounts in thousands): Three Months Ended 2018 2017 Revenue Heavy Civil Construction $ 187,241 $ 153,416 Residential Construction 35,251 — Total Revenue $ 222,492 $ 153,416 Our residential construction segment recognizes revenue at a point in time, unchanged from prior revenue recognition guidance. As we complete a unit of work (e.g., PO, job, slab), which typically is less than one month, our leading homebuilder customers are provided an invoice (or equivalent) demonstrating the transfer of control. The residential construction segment's revenue population is homogeneous in terms of customer type, end market, duration and risk profile and, as such, is excluded from the tables below. Revenue by Category Our heavy civil construction segment's portfolio of products and services consists of over 150 active contracts. The following series of tables presents our heavy civil construction revenue disaggregated by several categories. Revenue by major end market (amounts in thousands): Three Months Ended 2018 2017 Heavy Highway $ 107,408 $ 109,385 Water Containment and Treatment 14,995 9,596 Aviation 23,252 10,590 Commercial and Other 41,586 23,845 Heavy Civil Construction Revenue $ 187,241 $ 153,416 Revenue by contract type (amounts in thousands): Three Months Ended 2018 2017 Fixed Unit Price $ 160,236 $ 144,361 Lump Sum and Other 27,005 9,055 Heavy Civil Construction Revenue $ 187,241 $ 153,416 Each of these contract types presents advantages and disadvantages. Typically, we assume more risk with lump-sum contracts. However, these types of contracts offer additional profits when we complete the work for less than originally estimated. Under fixed-unit price contracts, our profit may vary if actual labor-hour costs vary significantly from the negotiated rates. Also, because these contracts can provide little or no fee for managing material costs, the content mix can impact profitability. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts (contract assets) on the condensed consolidated balance sheet. In our heavy civil construction segment, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals (e.g., biweekly or monthly) or upon achievement of contractual milestones. Generally, billing occurs subsequent to revenue recognition, resulting in contract assets. However, we sometimes receive advances or deposits from our customers, before revenue is recognized, resulting in billings in excess of costs and estimated earnings on uncompleted contracts (contract liabilities). These assets and liabilities are reported on the condensed consolidated balance sheet on a contract-by-contract basis at the end of each reporting period. Changes in the contract asset and liability balances during the three month period ended March 31, 2018 , were not materially impacted by any other factors. The table below reconciles the net excess billings to the amounts included in the condensed consolidated balance sheets at those dates (amounts in thousands). As of March 31, 2018 2017 Costs and estimated earnings in excess of billings on uncompleted contracts $ 40,013 $ 34,475 Billings in excess of costs and estimated earnings on uncompleted contracts (54,689 ) (62,656 ) Net amount of costs and estimated earnings on uncompleted contracts below billings $ (14,676 ) $ (28,181 ) Revenues recognized and billings on uncompleted contracts include cumulative amounts recognized as revenues and billings in prior periods. This revenue primarily represents progress on our construction jobs.

Cash and Cash Equivalents

Cash and Cash Equivalents	3 Months Ended
	Mar. 31, 2018
Disclosure Text Block [Abstract]
Cash and Cash Equivalents	4. Cash and Cash Equivalents The Company considers all highly liquid investments with original or remaining maturities of three months or less at the time of purchase to be cash equivalents. Cash and cash equivalents include cash balances held by our consolidated subsidiaries and our majority controlled construction joint ventures. At March 31, 2018 and December 31, 2017 , cash and cash equivalents included $16.0 million and $31.1 million , respectively, belonging to our consolidated 50% owned subsidiaries. At March 31, 2018 and December 31, 2017 , cash and cash equivalents included $9.8 million and $18.9 million , respectively, belonging to our construction joint ventures. Construction joint venture cash balances are limited to joint venture activities and are not available for other projects, general cash needs or distribution to us without approval of the board of directors, or equivalent body, of the respective joint ventures. Restricted cash of approximately $3.0 million is included in “ Other current assets ” on the condensed consolidated balance sheets as of March 31, 2018 and December 31, 2017 and represents cash deposited by the Company into a separate account and designated as collateral for a standby letter of credit in the same amount in accordance with contractual agreements. Refer to Notes 8 and 9 for more information about our standby letter of credit. In addition, restricted cash of approximately $0.6 million is included in “ Other current assets ” on the condensed consolidated balance sheets as of March 31, 2018 and December 31, 2017 and represents cash deposited by a customer, for the benefit of the Company, in an escrow account which is restricted until the customer releases the restriction upon the completion of the job. The Company holds cash on deposit in U.S. banks, at times, in excess of federally insured limits. Management does not believe that the risk associated with keeping cash deposits in excess of federal deposit insurance limits represents a material risk.

Consolidated 50% Owned Subsidia

Consolidated 50% Owned Subsidiaries, including Variable Interest Entities ("VIE")	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interest [Abstract]
Consolidated 50% Owned Subsidiaries, including Variable Interest Entities (VIE)	5. Consolidated 50% Owned Subsidiaries, including Variable Interest Entities ("VIE") The Company has a 50% interest in two subsidiaries (Myers and RHB); both subsidiaries have individual provisions which obligate the Company to purchase each partner's 50% interests for $20.0 million ( $40.0 million in the aggregate), due to circumstances outlined in the partner agreements that are certain to occur. Therefore, the Company has consolidated these two entities and classified these obligations as mandatorily redeemable and has recorded a liability in “ Members' interest subject to mandatory redemption and undistributed earnings ” on the condensed consolidated balance sheets. In addition, all undistributed earnings at the time of the noncontrolling owners’ death or permanent disability are also mandatorily payable. In the event of either Mr. Buenting’s or Mr. Myers's death, the Company purchased two separate $20.0 million death and permanent total disability insurance policies to mitigate the Company’s cash draw if such events were to occur. The liability consists of the following (amounts in thousands): March 31, December 31, Members’ interest subject to mandatory redemption $ 40,000 $ 40,000 Net accumulated earnings 3,923 7,386 Total liability $ 43,923 $ 47,386 Fifty percent of the earnings of these consolidated 50% owned subsidiaries for the three months ended March 31, 2018 and March 31, 2017 was $0.6 million and $0.0 million . These amounts were included in “ Other operating expense, net ” on the Company’s condensed consolidated statements of operations. The Company must determine whether each entity, including these two 50% owned subsidiaries, in which it participates, is a VIE. This determination focuses on identifying which owner or entity partner, if any, has the power to direct the activities of the entity and the obligation to absorb losses of the entity or the right to receive benefits from the entity disproportionate to its interest in the entity, which could have the effect of requiring the Company to consolidate the entity in which we have a noncontrolling variable interest. The Company determined Myers is a VIE and we are the primary beneficiary as pursuant to the terms of the Myers Operating Agreement we are exposed to the majority of potential losses of the partnership. As such, the following table presents the condensed financial information of Myers, which is reflected in the Company’s condensed consolidated balance sheets and statements of operations, as follows (amounts in thousands): March 31, December 31, Assets: Current assets: Cash and cash equivalents $ 2,061 $ 8,590 Contracts receivable, including retainage 21,507 26,844 Other current assets 13,634 15,672 Total current assets 37,202 51,106 Property and equipment, net 8,528 9,001 Goodwill 1,501 1,501 Total assets $ 47,231 $ 61,608 Liabilities: Current liabilities: Accounts payable $ 20,478 $ 28,448 Other current liabilities 9,557 11,798 Total current liabilities 30,035 40,246 Long-term liabilities: Other long-term liabilities 160 3,491 Total liabilities $ 30,195 $ 43,737 Three Months Ended 2018 2017 Revenues $ 40,175 $ 23,285 Operating income 1,107 394 Net income attributable to Sterling common stockholders 554 195

Construction Joint Ventures

Construction Joint Ventures	3 Months Ended
	Mar. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Construction Joint Ventures	6. Construction Joint Ventures We participate in joint ventures with other major construction companies and other partners, typically for large, technically complex projects, including design-build projects, when it is desirable to share risk and resources in order to seek a competitive advantage or when the project is too large for us to obtain sufficient bonding. Joint venture partners typically provide independently prepared estimates, furnish employees and equipment, enhance bonding capacity and often also bring local knowledge and expertise. We select our joint venture partners based on our analysis of their construction and financial capabilities, expertise in the type of work to be performed and past working relationships with us, among other criteria. For these joint ventures, the equity held by the remaining owners and their portions of net income (loss) are reflected in the balance sheet line item “ Noncontrolling interests ” in “Equity” and the statement of operations line item “ Noncontrolling interests in earnings ,” respectively. Refer to Note 6 of the Notes to Consolidated Financial Statements in the 2017 Form 10-K for further information about our joint ventures. The following table summarizes the changes in noncontrolling interests (amounts in thousands): Three Months Ended 2018 2017 Balance, beginning of period $ 4,856 $ 656 Net income attributable to noncontrolling interest included in equity 1,191 371 Distributions to noncontrolling interest owners — — Balance, end of period $ 6,047 $ 1,027 Where we are a noncontrolling venture partner, we account for our share of the operations of such construction joint ventures on a pro-rata basis using proportionate consolidation on our condensed consolidated statements of operations and as a single line item (“ Receivables from and equity in construction joint ventures ”) in the condensed consolidated balance sheets. This method is an acceptable modification of the equity method of accounting which is a common practice in the construction industry. Condensed combined financial amounts of joint ventures in which the Company has a noncontrolling interest and the Company’s share of such amounts which are included in the Company’s condensed consolidated financial statements are shown below (amounts in thousands): March 31, December 31, Total combined: Current assets $ 67,990 $ 64,574 Less current liabilities (76,651 ) (78,349 ) Net liabilities $ (8,661 ) $ (13,775 ) Sterling’s receivables from and equity in construction joint ventures $ 12,485 $ 11,380 Three Months Ended 2018 2017 Total combined: Revenues $ 31,357 $ 14,609 Income before tax 3,404 1,173 Sterling’s noncontrolling interest: Revenues $ 15,065 $ 6,488 Income before tax 1,691 553 The caption “ Receivables from and equity in construction joint ventures ” includes undistributed earnings and receivables owed to the Company. Undistributed earnings are typically released to the joint venture partners after the customer accepts the project as complete and the warranty period, if any, has passed.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	7. Property and Equipment Property and equipment are summarized as follows (amounts in thousands): March 31, December 31, Construction equipment $ 119,011 $ 118,868 Transportation equipment 17,347 17,511 Buildings 9,577 9,577 Office equipment 2,706 3,339 Leasehold improvement 914 914 Construction in progress 258 258 Land 2,348 2,348 Water rights — 200 152,161 153,015 Less accumulated depreciation (100,019 ) (98,609 ) Total property and equipment, net $ 52,142 $ 54,406

Secured Credit Facility and Oth

Secured Credit Facility and Other Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Secured Credit Facility and Other Debt	8. Secured Credit Facility and Other Debt Debt consists of the following (in thousands): March 31, December 31, Loans $ 80,321 $ 85,000 Notes and deferred payments to sellers, Tealstone acquisition 12,676 12,393 Notes payable for transportation and construction equipment and other 1,460 1,557 Total debt 94,457 98,950 Less - Current maturities of long-term debt (1,057 ) (3,978 ) Less - Unamortized deferred loan costs (8,294 ) (8,812 ) Total long-term debt $ 85,106 $ 86,160 On April 3, 2017, the Company, as borrower, and certain of its subsidiaries, as guarantors, entered into a Loan and Security Agreement with Wilmington Trust, National Association, as agent, and the lenders party thereto (the “Oaktree Facility”), providing for a term loan of $85,000,000 (the “Loan”) with a maturity date of April 4, 2022, which replaced the then existing debt facility. The Loan is secured by substantially all of the assets of the Company and its subsidiaries. Interest on the Loan is equal to the one-, two-, three- or six-month London interbank rate, or LIBOR, plus 8.75% per annum on the unpaid principal amount of the Loan, subject to adjustment under certain circumstances. Interest on the Loan is generally payable monthly. There are no amortized principal payments; however, the Company is required to prepay the Loan, and in certain cases pay a prepayment premium thereon, with proceeds received from the issuances of debt or equity, transfers, events of loss and extraordinary receipts. The Company is required to make an offer quarterly to the lenders to prepay the Loan in an amount equal to 75% of its excess cash flow, plus accrued and unpaid interest thereon and a prepayment premium. The Oaktree Facility contains various covenants that limit, among other things, the Company’s ability and certain of its subsidiaries’ ability to incur certain indebtedness, grant certain liens, merge or consolidate, sell assets, make certain loans, enter into acquisitions, incur capital expenditures, make investments, and pay dividends. In addition, the Company is required to maintain the following principal financial covenants: • a ratio of secured indebtedness to EBITDA of not more than 3.10 to 1.00 for the trailing four consecutive fiscal quarters, reducing to 1.80 to 1.00 for the four consecutive quarters ending September 30, 2019; • daily cash collateral of not less than $15,000,000 ; • a trailing four consecutive fiscal quarters gross margin in contract backlog of not less than $60,000,000 , increasing to $70,000,000 by March 31, 2019; • the incurrence of net capital expenditures during the trailing four consecutive fiscal quarters shall not exceed $15,000,000 ; • bonding capacity shall be maintained at all times in an amount not less than $1,000,000,000 ; and • the EBITDA of Tealstone Residential Concrete, Inc. shall not be less than $12,000,000 for each of the trailing four consecutive fiscal quarters. The Company is in compliance with these covenants at March 31, 2018 . The Oaktree Facility also includes customary events of default, including events of default relating to non-payment of principal or interest, inaccuracy of representations and warranties, breaches of covenants, cross-defaults, bankruptcy and insolvency events, certain unsatisfied judgments, loan documents not being valid, calls under the Company’s bonds, failure of specified individuals to remain employed by the Company, and a change of control. If an event of default occurs, the lenders will be able to accelerate the maturity of the Oaktree Facility and exercise other rights and remedies. Deferred loan costs and discounts totaled $10.4 million , which included attorney fees, investment bank fees as well as amounts paid to the lenders and which were discounted from the loan amount. Warrants valued at $3.5 million were included as well. The total amount is amortized on a straight-line basis, which approximates the effective interest method, over the five -year life of the Loan. Total amortization expense of $0.5 million and $0.2 million , respectively has been recorded for the three months ended March 31, 2018 and March 31, 2017 . The fair value of the Oaktree Facility approximates its book value. Notes and Deferred Payments to Sellers As part of the Tealstone Acquisition, the Company issued $5,000,000 of Promissory Notes to the Sellers and agreed to make $2,426,000 and $7,500,000 of deferred cash payments on the second and third anniversaries of the closing date, respectively. Based on a 12% discount rate, the Company recorded $11.6 million as notes and deferred payments to sellers in long-term debt on our condensed consolidated balance sheet at the acquisition closing date. Accreted interest for the period was $0.3 million for the three months ended March 31, 2018 and was recorded as interest expense. Notes Payable for Transportation and Construction Equipment The Company has purchased and financed various transportation and construction equipment to enhance the Company’s fleet of equipment. The total long-term notes payable related to the purchase of financed equipment was $1.5 million and $1.6 million at March 31, 2018 and December 31, 2017 , respectively. The purchases have payment terms ranging from 3 to 5 years and the associated interest rates range from 3.15% to 7.14% . The fair value of these notes payable approximates their book value.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies The Company is required by our former insurance provider to obtain and hold a standby letter of credit. This letter of credit serves as a guarantee by the banking institution to pay our former insurance provider the incurred claim costs attributable to our general liability, workers compensation and automobile liability claims, up to the amount stated in the standby letter of credit, in the event that these claims were not paid by the Company. We have cash collateralized the letter of credit, resulting in the cash being designated as restricted. Since we have now replaced our insurance provider, the amount required will diminish as claims are processed. Refer to Note 4 for more information on our restricted cash. The Company is the subject of certain other claims and lawsuits occurring in the normal course of business. Management, after consultation with legal counsel, does not believe that the outcome of these actions will have a material impact on the condensed consolidated financial statements of the Company.

Income Taxes and Deferred Tax A

Income Taxes and Deferred Tax Asset/Liability	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes and Deferred Tax Asset/Liability	10. Income Taxes and Deferred Tax Asset/Liability The Company and its subsidiaries file U.S. federal and various U.S. state income tax returns. Current income tax expense (benefit) represents federal and state taxes based on tax paid or expected to be payable or receivable for the periods shown in the condensed consolidated statements of operations. Due to net operating loss carryforwards, the Company is not expecting a current federal liability. The Company may incur current state tax liabilities in states in which the Company does not have sufficient net operating loss carry forwards. Income tax expense of $41 thousand and $27 thousand was recorded for the three months ended March 31, 2018 and March 31, 2017 , respectively. The effective income tax rate varied from the statutory rate primarily as a result of the change in the valuation allowance, net income attributable to noncontrolling interest owners which is taxable to those owners rather than to the Company, state income taxes and other permanent differences. For interim periods, the Company estimates an annual effective tax rate and applies that rate to year-to-date operating results. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the "Tax Act"). The Tax Act makes broad and complex changes to the U.S. tax code, including, but not limited to, (1) reducing the U.S. federal corporate tax rate from 35 percent to 21 percent; (2) eliminating the corporate alternative minimum tax (AMT) and changing how existing AMT credits can be realized; (3) creating a new limitation on deductible interest expense; (4) changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017; (5) expanding the limitation for executive compensation deductions; and (6) implementing 100% immediate expensing of qualified property. As a result of the reduced federal corporate tax rate under the Tax Act, the Company reduced the value of its net deferred tax assets by $19.5 million at December 31, 2017 to reflect the enacted rate. This reduction was entirely offset with a corresponding reduction of our valuation allowance, which resulted in no charge to the tax provision for the year. The Tax Act also provides that existing AMT credit carryforwards are refundable beginning in 2018. The Company’s deferred tax expense (benefit) reflects the change in deferred tax assets or liabilities. The Company performs an analysis at the end of each reporting period to determine whether it is more likely than not the deferred tax assets are expected to be realized in future years. Based upon this analysis, a full valuation allowance has been applied to our net deferred tax assets as of March 31, 2018 and December 31, 2017 . Therefore, there has been no change in net deferred taxes for the three months ended March 31, 2018 . As a result of the Company’s analysis, management has determined that the Company does not have any material uncertain tax positions.

Stockholder's Equity

Stockholder's Equity	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
Stockholder's Equity	11. Stockholder's Equity Stock-Based Compensation The Company has a stock-based incentive plan that is administered by the Compensation Committee of the Board of Directors. Refer to Note 14 of the Notes to Consolidated Financial Statements included in the 2017 Form 10-K for further information. During the three months ended March 31, 2018 and 2017 , the Company awarded, subject to vesting restrictions, a total of 327,451 and 63,839 common stock awards, respectively. The Company recorded stock-based compensation expense of $0.6 million and $0.6 million for the three months ended March 31, 2018 and 2017 , respectively. At March 31, 2018 and 2017 , total unrecognized compensation cost related to unvested common stock awards was $5.6 million and $1.7 million , respectively. This cost is expected to be recognized over a weighted average period of 2.71 years . At March 31, 2018 , there were 0.2 million shares of common stock covered by outstanding unvested common stock.

Net Income (Loss) Per Share Att

Net Income (Loss) Per Share Attributable to Sterling Common Stockholders	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Income (Loss) Per Share Attributable to Sterling Common Stockholders	12. Net Income (Loss) Per Share Attributable to Sterling Common Stockholders Basic net income (loss) per share attributable to Sterling common stockholders is computed by dividing net income (loss) attributable to Sterling common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share attributable to Sterling common stockholders is the same as basic net income (loss) per share attributable to Sterling common stockholders but includes dilutive unvested stock awards and warrants using the treasury stock method. The following table reconciles the numerators and denominators of the basic and diluted per common share computations for net income (loss) attributable to Sterling common stockholders (amounts in thousands, except per share data): Three Months Ended 2018 2017 Numerator: Net income (loss) attributable to Sterling common stockholders $ 2,489 $ (2,257 ) Weighted average common shares outstanding — basic 26,854 25,022 Shares for dilutive unvested stock and warrants 224 — Weighted average common shares outstanding and incremental shares assumed repurchased— diluted 27,078 25,022 Basic income (loss) per share attributable to Sterling common stockholders $ 0.09 $ (0.09 ) Diluted income (loss) per share attributable to Sterling common stockholders $ 0.09 $ (0.09 ) In accordance with the treasury stock method, approximately 0.5 million shares of unvested common stock were excluded from the diluted weighted average common shares outstanding for the three months ended March 31, 2017 , as the Company incurred a loss during that period and the impact of such shares would have been anti-dilutive.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	13. Segment Information Due to the April 3, 2017 acquisition of Tealstone, the Company has reviewed its reportable segments, operating segments and reporting units. Based on our review, we have concluded that our operations consist of two reportable segments, two operating segments and two reporting unit components: heavy civil construction and residential construction. In making this determination, the Company considered the discrete financial information used by our Chief Operating Decision Maker (“CODM”). Based on this approach, the Company noted that the CODM organizes, evaluates and manages the financial information of our aggregated heavy civil construction projects and the entire residential construction division separately when making operating decisions and assessing the Company’s overall performance. Furthermore, we considered the differences between the types of work performed in each reporting unit. Each heavy civil construction project has similar characteristics, includes similar services, has similar types of customers and is subject to similar economic and regulatory environments. Projects in our heavy civil construction segment typically last for several years, involve several subtasks and are accounted for using over time recognition (formerly known as percentage-of-completion method). Conversely, our residential construction projects typically consist of a high volume of independent units performed for customers that are billed, paid and accounted for at a point in time as the individual units are completed. Each job performed in our residential construction segment typically takes less than one month to complete. Segment reporting is aligned based upon the services offered by our two operating groups, which represent our reportable segments: Heavy Civil Construction and Residential Construction, as mentioned above. Our CODM evaluates the performance of the aforementioned operating groups based upon revenue and income from operations. Each operating group’s income from operations reflects corporate costs, allocated based primarily upon revenue. The following table presents total revenue and income from operations by reportable segment for the three months ended March 31, 2018 and 2017 (in thousands): Three Months Ended 2018 2017 Revenue Heavy Civil Construction $ 187,241 $ 153,416 Residential Construction 35,251 — Total Revenue $ 222,492 $ 153,416 Operating Income (loss) Heavy Civil Construction $ 1,945 $ (1,788 ) Residential Construction 4,734 — Total Operating Income (loss) $ 6,679 $ (1,788 ) The following table presents total assets by reportable segment at March 31, 2018 and December 31, 2017 : March 31, December 31, Assets Heavy Civil Construction $ 320,437 $ 354,090 Residential Construction 118,598 109,208 Total Assets $ 439,035 $ 463,298

Summary of Business and Signi20

Summary of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Presentation	Presentation The condensed consolidated financial statements included herein have been prepared by Sterling, without audit, in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the Annual Report on Form 10-K for the year ended December 31, 2017 (“ 2017 Form 10-K”). Certain information and note disclosures prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been either condensed or omitted pursuant to SEC rules and regulations. The condensed consolidated financial statements reflect, in the opinion of management, all normal recurring adjustments necessary to present fairly the Company’s financial position at March 31, 2018 and the results of operations and cash flows for the periods presented. The December 31, 2017 condensed consolidated balance sheet data herein was derived from audited financial statements, but as discussed above, does not include all disclosures required by GAAP. Interim results may be subject to significant seasonal variations and the results of operations for the three months ended March 31, 2018 are not necessarily indicative of the results expected for the full year or subsequent quarters.
Use of Estimates	Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Certain of the Company’s accounting policies require higher degrees of judgment than others in their application. These include the recognition of revenue and earnings from construction contracts over time, the valuation of long-term assets, income taxes, and purchase accounting, including intangibles and goodwill. Management continually evaluates all of its estimates and judgments based on available information and experience; however, actual results could differ from these estimates.
Principles of Consolidation	Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of subsidiaries and construction joint ventures in which the Company has 50% or greater ownership interest or otherwise controls such entities. For investments in construction joint ventures that are not wholly-owned, but where the Company exercises control, the equity held by the remaining owners and their portions of net income (loss) are reflected in the balance sheet line item “ Noncontrolling interests ” in “Equity” and the statement of operations line item “ Noncontrolling interests in earnings ,” respectively. For investments in subsidiaries that are not wholly-owned, but where the Company exercises control and where the Company has a mandatorily redeemable interest, the equity held by the remaining owners and their portion of net income (loss) is reflected in the balance sheet line item “ Members' interest subject to mandatory redemption and undistributed earnings ” and the statement of operations line item “ Other operating expense, net ” respectively. All significant intercompany accounts and transactions have been eliminated in consolidation. Where the Company is a noncontrolling joint venture partner, and otherwise not required to consolidate the joint venture entity, its share of the operations of such construction joint venture is accounted for on a pro rata basis in the condensed consolidated statements of operations and as a single line item (“ Receivables from and equity in construction joint ventures ”) in the condensed consolidated balance sheets. This method is an acceptable modification of the equity method of accounting which is a common practice in the construction industry.
Revenue Recognition	The Company engages in various types of heavy civil construction projects principally for public (government) owners. Credit risk is minimal with public owners since the Company ascertains that funds have been appropriated by the governmental project owner prior to commencing work on such projects. While most public contracts are subject to termination at the election of the government entity, in the event of termination the Company is entitled to receive the contract price for completed work and reimbursement of termination-related costs plus a margin. Credit risk with private owners is mitigated by statutory mechanic’s liens, which give the Company high priority in the event of lien foreclosures following financial difficulties of private owners. Our contracts generally take 12 to 36 months to complete. The Company generally provides a one to two -year warranty for workmanship under its contracts when completed. Warranty claims historically have been insignificant. Revenues are recognized as performance obligations are satisfied over time (formerly known as percentage-of-completion method), measured by the ratio of costs incurred up to a given date to estimated total costs for each contract. This cost to cost measure is used because management considers it to be the best available measure of progress on these contracts. Contract costs include all direct material, labor, subcontract and other costs and those indirect costs related to contract performance, such as indirect salaries and wages, equipment repairs and depreciation, insurance and payroll taxes. Administrative and general expenses are charged to expense as incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions and estimated profitability, including those changes arising from contract penalty provisions and final contract settlements may result in revisions to costs and income and are recognized in the period in which the revisions are determined. Changes in estimated revenues and gross margin resulted in a net gain of $1.3 million and $0.8 million during the three months ended March 31, 2018 and 2017 , respectively , included in “ Operating income (loss) ” on the condensed consolidated statements of operations. Change orders are modifications of an original contract that effectively change the existing provisions of the contract without adding new provisions or terms. Change orders may include changes in specifications or designs, manner of performance, facilities, equipment, materials, sites and period of completion of the work. Either we or our customers may initiate change orders. The Company considers unapproved change orders to be contract variations for which we have customer approval for a change of scope but a price change associated with the scope change has not yet been agreed upon. Costs associated with unapproved change orders are included in the estimated costs to complete the contracts and are treated as project costs as incurred. The Company recognizes revenue equal to costs incurred on unapproved change orders when management determines approval to be probable. Unapproved change orders involve the use of estimates, and it is reasonably possible that revisions to the estimated costs and recoverable amounts may be required in future reporting periods to reflect changes in estimates or final agreements with customers. Change orders that are unapproved as to both price and scope are evaluated as claims. The Company considers claims to be amounts in excess of approved contract prices that we seek to collect from our customers or others for customer-caused delays, errors in specifications and designs, contract terminations, change orders that are either in dispute or are unapproved as to both scope and price, or other causes of unanticipated additional contract costs. Claims are included in the calculation of revenue when realization is probable and amounts can be reliably determined to the extent costs are incurred. To support these requirements, the existence of the following items must be satisfied: (i) the contract or other evidence provides a legal basis for the claim; or a legal opinion has been obtained, stating that under the circumstances there is a reasonable basis to support the claim; (ii) additional costs are caused by circumstances that were unforeseen at the contract date and are not the result of deficiencies in the contractor’s performance; (iii) costs associated with the claim are identifiable or otherwise determinable and are reasonable in view of the work performed; and (iv) the evidence supporting the claim is objective and verifiable, not based on management’s feel for the situation or on unsupported representations. Revenue in excess of contract costs incurred on claims is recognized when an agreement is reached with customers as to the value of the claims, which in some instances may not occur until after completion of work under the contract. Costs associated with claims are included in the estimated costs to complete the contracts and are treated as project costs when incurred. The Company has projects where we are in the process of negotiating, or awaiting final approval of, unapproved change orders and claims with our customers. The Company is proceeding with its contractual rights to recoup additional costs incurred from its customers based on completing work associated with change orders, including change orders with pending change order pricing, or claims related to significant changes in scope which resulted in substantial delays and additional costs in completing the work. Unapproved change order and claim information has been provided to our customers and negotiations with the customers are ongoing. If additional progress with an acceptable resolution is not reached, legal action will be taken. Based upon our review of the provisions of our contracts, specific costs incurred and other related evidence supporting the unapproved change orders, claims and our entitled unpaid project price, together in some cases as necessary with the views of the Company’s outside claim consultants, we concluded that it was appropriate to include the unapproved change order, claim and entitled unpaid project price amounts of $5.0 million , $6.0 million and $0.0 million , respectively, at March 31, 2018 , and $5.0 million , $5.0 million and $0.0 million , respectively, at December 31, 2017 , in “Costs and estimated earnings in excess of billings on uncompleted contracts” on our condensed consolidated balance sheets. We expect these matters will be resolved without a material adverse effect on our financial statements. However, unapproved change order and claim amounts are subject to negotiations which may cause actual results to differ materially from estimated and recorded amounts. Residential Construction Residential construction revenue and related profit are recognized when construction on the concrete foundation unit is completed (i.e., at a point in time). The time from starting construction to finishing is typically less than one month.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-9, “Revenue from Contracts with Customers.” We adopted the requirements of the new standard effective January 1, 2018. See Note 3 “Revenue from Contracts with Customers.” Recently Issued Accounting Pronouncements In February 2016, the FASB issued its new lease accounting guidance in ASU No. 2016-2, “Leases” (Topic 842). Under the new guidance, lessees will be required to recognize for all leases (with the exception of short-term leases) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. The new standard is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact of the adoption of this ASU to the Company’s consolidated financial statements and related disclosures. In August 2016, the FASB issued guidance in ASU No. 2016-15 (Topic 230): “Classification of Certain Cash Receipts and Cash Payments.” This update addresses specific cash flow issues with the objective of reducing existing diversity in practice. Early adoption is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company expects to adopt this guidance as required and does not expect a material impact to the Company’s consolidated financial statements.

Tealstone Acquisition (Tables)

Tealstone Acquisition (Tables)	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Summary of Proforma Information	The pro forma for the three months ended March 31, 2017 (amounts in thousands): Pro forma revenue $ 194,925 Pro forma net loss attributable to Sterling $ (1,474 )

Revenue From Contracts With C22

Revenue From Contracts With Customers (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenue by contract type (amounts in thousands): Three Months Ended 2018 2017 Fixed Unit Price $ 160,236 $ 144,361 Lump Sum and Other 27,005 9,055 Heavy Civil Construction Revenue $ 187,241 $ 153,416 The following table presents total revenue from operations by reportable segment for the three months ended March 31, 2018 and 2017 (amounts in thousands): Three Months Ended 2018 2017 Revenue Heavy Civil Construction $ 187,241 $ 153,416 Residential Construction 35,251 — Total Revenue $ 222,492 $ 153,416 Revenue by major end market (amounts in thousands): Three Months Ended 2018 2017 Heavy Highway $ 107,408 $ 109,385 Water Containment and Treatment 14,995 9,596 Aviation 23,252 10,590 Commercial and Other 41,586 23,845 Heavy Civil Construction Revenue $ 187,241 $ 153,416
Costs in Excess of Billings and Billings in Excess of Costs	The table below reconciles the net excess billings to the amounts included in the condensed consolidated balance sheets at those dates (amounts in thousands). As of March 31, 2018 2017 Costs and estimated earnings in excess of billings on uncompleted contracts $ 40,013 $ 34,475 Billings in excess of costs and estimated earnings on uncompleted contracts (54,689 ) (62,656 ) Net amount of costs and estimated earnings on uncompleted contracts below billings $ (14,676 ) $ (28,181 )

Consolidated 50% Owned Subsid23

Consolidated 50% Owned Subsidiaries, including Variable Interest Entities ("VIE") (Tables)	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interest [Abstract]
Schedule of Components of Agreement Obligation	The liability consists of the following (amounts in thousands): March 31, December 31, Members’ interest subject to mandatory redemption $ 40,000 $ 40,000 Net accumulated earnings 3,923 7,386 Total liability $ 43,923 $ 47,386
Summary of Financial Information of Variable Interest Entities	As such, the following table presents the condensed financial information of Myers, which is reflected in the Company’s condensed consolidated balance sheets and statements of operations, as follows (amounts in thousands): March 31, December 31, Assets: Current assets: Cash and cash equivalents $ 2,061 $ 8,590 Contracts receivable, including retainage 21,507 26,844 Other current assets 13,634 15,672 Total current assets 37,202 51,106 Property and equipment, net 8,528 9,001 Goodwill 1,501 1,501 Total assets $ 47,231 $ 61,608 Liabilities: Current liabilities: Accounts payable $ 20,478 $ 28,448 Other current liabilities 9,557 11,798 Total current liabilities 30,035 40,246 Long-term liabilities: Other long-term liabilities 160 3,491 Total liabilities $ 30,195 $ 43,737 Three Months Ended 2018 2017 Revenues $ 40,175 $ 23,285 Operating income 1,107 394 Net income attributable to Sterling common stockholders 554 195

Construction Joint Ventures (Ta

Construction Joint Ventures (Tables)	3 Months Ended
	Mar. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Change in non-controlling interest	The following table summarizes the changes in noncontrolling interests (amounts in thousands): Three Months Ended 2018 2017 Balance, beginning of period $ 4,856 $ 656 Net income attributable to noncontrolling interest included in equity 1,191 371 Distributions to noncontrolling interest owners — — Balance, end of period $ 6,047 $ 1,027
Condensed Balance Sheet	March 31, December 31, Total combined: Current assets $ 67,990 $ 64,574 Less current liabilities (76,651 ) (78,349 ) Net liabilities $ (8,661 ) $ (13,775 ) Sterling’s receivables from and equity in construction joint ventures $ 12,485 $ 11,380
Condensed Income Statement	Three Months Ended 2018 2017 Total combined: Revenues $ 31,357 $ 14,609 Income before tax 3,404 1,173 Sterling’s noncontrolling interest: Revenues $ 15,065 $ 6,488 Income before tax 1,691 553

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment are summarized as follows (amounts in thousands): March 31, December 31, Construction equipment $ 119,011 $ 118,868 Transportation equipment 17,347 17,511 Buildings 9,577 9,577 Office equipment 2,706 3,339 Leasehold improvement 914 914 Construction in progress 258 258 Land 2,348 2,348 Water rights — 200 152,161 153,015 Less accumulated depreciation (100,019 ) (98,609 ) Total property and equipment, net $ 52,142 $ 54,406

Secured Credit Facility and O26

Secured Credit Facility and Other Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Debt consists of the following (in thousands): March 31, December 31, Loans $ 80,321 $ 85,000 Notes and deferred payments to sellers, Tealstone acquisition 12,676 12,393 Notes payable for transportation and construction equipment and other 1,460 1,557 Total debt 94,457 98,950 Less - Current maturities of long-term debt (1,057 ) (3,978 ) Less - Unamortized deferred loan costs (8,294 ) (8,812 ) Total long-term debt $ 85,106 $ 86,160

Net Income (Loss) Per Share A27

Net Income (Loss) Per Share Attributable to Sterling Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic net income (loss) per share attributable to Sterling common stockholders is computed by dividing net income (loss) attributable to Sterling common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share attributable to Sterling common stockholders is the same as basic net income (loss) per share attributable to Sterling common stockholders but includes dilutive unvested stock awards and warrants using the treasury stock method. The following table reconciles the numerators and denominators of the basic and diluted per common share computations for net income (loss) attributable to Sterling common stockholders (amounts in thousands, except per share data): Three Months Ended 2018 2017 Numerator: Net income (loss) attributable to Sterling common stockholders $ 2,489 $ (2,257 ) Weighted average common shares outstanding — basic 26,854 25,022 Shares for dilutive unvested stock and warrants 224 — Weighted average common shares outstanding and incremental shares assumed repurchased— diluted 27,078 25,022 Basic income (loss) per share attributable to Sterling common stockholders $ 0.09 $ (0.09 ) Diluted income (loss) per share attributable to Sterling common stockholders $ 0.09 $ (0.09 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents total assets by reportable segment at March 31, 2018 and December 31, 2017 : March 31, December 31, Assets Heavy Civil Construction $ 320,437 $ 354,090 Residential Construction 118,598 109,208 Total Assets $ 439,035 $ 463,298 The following table presents total revenue and income from operations by reportable segment for the three months ended March 31, 2018 and 2017 (in thousands): Three Months Ended 2018 2017 Revenue Heavy Civil Construction $ 187,241 $ 153,416 Residential Construction 35,251 — Total Revenue $ 222,492 $ 153,416 Operating Income (loss) Heavy Civil Construction $ 1,945 $ (1,788 ) Residential Construction 4,734 — Total Operating Income (loss) $ 6,679 $ (1,788 )

Summary of Business and Signi29

Summary of Business and Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Costs and estimated earnings in excess of billings
Business Acquisition [Line Items]
Unapproved change orders, amount	$ 5		$ 5
Contracts receivable, claims and uncertain amounts	6		5
Contracts receivable, unpaid project contract price	0		$ 0
Operating income (Loss)
Business Acquisition [Line Items]
Estimated construction gain (loss) before tax	$ 1.3	$ 0.8
Minimum
Business Acquisition [Line Items]
Revenue recognition, contract term	12 months
Warranty term	1 year
Maximum
Business Acquisition [Line Items]
Revenue recognition, contract term	36 months
Warranty term	2 years

Tealstone Acquisition - Narrati

Tealstone Acquisition - Narrative (Details) - Notes and deferred payments to sellers, Tealstone acquisition - USD ($)	Apr. 03, 2020	Apr. 03, 2019	Apr. 03, 2017	Mar. 31, 2018
Business Acquisition [Line Items]
Percentage of outstanding stock			100.00%
Cash			$ 55,000,000
Stock issued for Tealstone acquisition (in shares)			1,882,058
Promissory notes issued to the sellers			$ 5,000,000
Business combination, contingent consideration, liability			$ 15,000,000
Business Combination, pro forma information, revenue of acquiree since acquisition date, actual				$ 53,000,000
Business combination, pro forma information, earnings or loss of acquiree since acquisition date, actual				$ 6,800,000
Scenario, Forecast
Business Acquisition [Line Items]
Cash	$ 7,500,000	$ 2,426,000

Tealstone Acquisition - Supplem

Tealstone Acquisition - Supplemental Pro Forma Information (Unaudited) (Details) - Notes and deferred payments to sellers, Tealstone acquisition $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Pro forma revenue	$ 194,925
Pro forma net loss attributable to Sterling	$ (1,474)

Revenue From Contracts With C32

Revenue From Contracts With Customers - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)contract	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Remaining performance obligation | $	$ 885
Remaining performance obligation expected to be recognize the remainder of 2018	61.00%
Minimum
Disaggregation of Revenue [Line Items]
Revenue recognition, contract term	12 months
Maximum
Disaggregation of Revenue [Line Items]
Revenue recognition, contract term	36 months
Transferred over Time | Product Concentration Risk | Revenue from Contract with Customer
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	84.00%	100.00%
Transferred at Point in Time | Product Concentration Risk | Revenue from Contract with Customer
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	16.00%	0.00%
Heavy Civil Construction
Disaggregation of Revenue [Line Items]
Number of contracts | contract	150

Revenue From Contracts With C33

Revenue From Contracts With Customers - Revenue By Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Total Revenue	$ 222,492	$ 153,416
Heavy Civil Construction
Disaggregation of Revenue [Line Items]
Total Revenue	187,241	153,416
Residential Construction
Disaggregation of Revenue [Line Items]
Total Revenue	$ 35,251	$ 0

Revenue From Contracts With C34

Revenue From Contracts With Customers - Revenue By Major Market End (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Total Revenue	$ 222,492	$ 153,416
Heavy Civil Construction
Disaggregation of Revenue [Line Items]
Total Revenue	187,241	153,416
Heavy Civil Construction | Heavy Highway
Disaggregation of Revenue [Line Items]
Total Revenue	107,408	109,385
Heavy Civil Construction | Water Containment and Treatment
Disaggregation of Revenue [Line Items]
Total Revenue	14,995	9,596
Heavy Civil Construction | Aviation
Disaggregation of Revenue [Line Items]
Total Revenue	23,252	10,590
Heavy Civil Construction | Commercial and Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 41,586	$ 23,845

Revenue From Contracts With C35

Revenue From Contracts With Customers - Revenue By Contract Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Total Revenue	$ 222,492	$ 153,416
Heavy Civil Construction
Disaggregation of Revenue [Line Items]
Total Revenue	187,241	153,416
Heavy Civil Construction | Fixed Unit Price
Disaggregation of Revenue [Line Items]
Total Revenue	160,236	144,361
Heavy Civil Construction | Lump Sum and Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 27,005	$ 9,055

Revenue From Contracts With C36

Revenue From Contracts With Customers - Net Excess Billings (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Revenue from Contract with Customer [Abstract]
Costs and estimated earnings in excess of billings on uncompleted contracts	$ 40,013		$ 34,475
Billings in excess of costs and estimated earnings on uncompleted contracts	(54,689)	$ (62,374)	(62,656)
Net amount of costs and estimated earnings on uncompleted contracts below billings	$ (14,676)		$ (28,181)

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Other assets
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	$ 3	$ 3
Other current assets
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	0.6	0.6
Less than wholly-owned subsidiaries
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	16	31.1
Majority-owned Joint Ventures
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	$ 9.8	$ 18.9

Consolidated 50% Owned Subsid38

Consolidated 50% Owned Subsidiaries, including Variable Interest Entities ("VIE") - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Noncontrolling Interest [Line Items]
Members’ interest subject to mandatory redemption	$ 40,000		$ 40,000
Net accumulated earnings	600	$ 0
Myers
Noncontrolling Interest [Line Items]
Cash Surrender Value of Life Insurance	20,000
RHB
Noncontrolling Interest [Line Items]
Cash Surrender Value of Life Insurance	20,000
Variable Interest Entity, Primary Beneficiary
Noncontrolling Interest [Line Items]
Members’ interest subject to mandatory redemption	40,000
Variable Interest Entity, Primary Beneficiary | Myers
Noncontrolling Interest [Line Items]
Members’ interest subject to mandatory redemption	20,000
Variable Interest Entity, Primary Beneficiary | RHB
Noncontrolling Interest [Line Items]
Members’ interest subject to mandatory redemption	$ 20,000

Consolidated 50% Owned Subsid39

Consolidated 50% Owned Subsidiaries, including Variable Interest Entities ("VIE") - Components of Noncontrolling Interest Subject to Mandatory Redemption (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Noncontrolling Interest [Abstract]
Members’ interest subject to mandatory redemption	$ 40,000	$ 40,000
Net accumulated earnings	3,923	7,386
Total liability	$ 43,923	$ 47,386

Consolidated 50% Owned Subsid40

Consolidated 50% Owned Subsidiaries, including Variable Interest Entities ("VIE") Consolidated 50% Owned Subsidiaries, including Variable Interest Entities - Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Cash and cash equivalents	$ 55,462	$ 83,953	$ 37,147	$ 42,785
Receivables, including retainage	140,877	133,931
Other current assets	6,479	7,529
Total current assets	257,179	278,526
Property and equipment, net	52,142	54,406
Goodwill	85,231	85,231
Total assets	439,035	463,298
Accounts payable	85,123	97,457
Other current liabilities	8,519	9,348
Total current liabilities	158,462	182,292
Other long-term liabilities	1,252	1,271
Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Cash and cash equivalents	2,061	8,590
Receivables, including retainage	21,507	26,844
Other current assets	13,634	15,672
Total current assets	37,202	51,106
Property and equipment, net	8,528	9,001
Goodwill	1,501	1,501
Total assets	47,231	61,608
Accounts payable	20,478	28,448
Other current liabilities	9,557	11,798
Total current liabilities	30,035	40,246
Other long-term liabilities	160	3,491
Total liabilities	$ 30,195	$ 43,737

Consolidated 50% Owned Subsid41

Consolidated 50% Owned Subsidiaries, including Variable Interest Entities ("VIE") Consolidated 50% Owned Subsidiaries, including Variable Interest Entities - Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Schedule of Equity Method Investments [Line Items]
Revenues	$ 222,492	$ 153,416
Operating income	6,679	(1,788)
Net income (loss) attributable to Sterling common stockholders	2,489	(2,257)
Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Revenues	40,175	23,285
Operating income	1,107	394
Net income (loss) attributable to Sterling common stockholders	$ 554	$ 195

Construction Joint Ventures - R

Construction Joint Ventures - Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	$ 4,856	$ 656
Net income attributable to noncontrolling interest included in equity	1,191	371
Distributions to noncontrolling interest owners	0	0
Balance, end of period	$ 6,047	$ 1,027

Construction Joint Ventures - B

Construction Joint Ventures - Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Current assets	$ 257,179	$ 278,526
Less current liabilities	(158,462)	(182,292)
Sterling’s receivables from and equity in construction joint ventures	12,485	11,380
Joint Ventures
Schedule of Equity Method Investments [Line Items]
Current assets	67,990	64,574
Less current liabilities	(76,651)	(78,349)
Net liabilities	(8,661)	(13,775)
Sterling’s receivables from and equity in construction joint ventures	$ 12,485	$ 11,380

Construction Joint Ventures - I

Construction Joint Ventures - Income Statement Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Schedule of Equity Method Investments [Line Items]
Revenues	$ 222,492	$ 153,416
Revenues	1,191	371
Joint Ventures
Schedule of Equity Method Investments [Line Items]
Revenues	31,357	14,609
Income before tax	3,404	1,173
Revenues	15,065	6,488
Income before tax	$ 1,691	$ 553

Property and Equipment - Summar

Property and Equipment - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 152,161	$ 153,015
Less accumulated depreciation	(100,019)	(98,609)
Total property and equipment, net	52,142	54,406
Construction equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	119,011	118,868
Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	17,347	17,511
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	9,577	9,577
Office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,706	3,339
Leasehold improvement
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	914	914
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	258	258
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,348	2,348
Water rights
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 0	$ 200

Secured Credit Facility and O46

Secured Credit Facility and Other Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 94,457	$ 98,950
Less - Current maturities of long-term debt	(1,057)	(3,978)
Less - Unamortized deferred loan costs	(8,294)	(8,812)
Total long-term debt	85,106	86,160
Notes and deferred payments to sellers, Tealstone acquisition
Debt Instrument [Line Items]
Notes payable	12,676	12,393
Notes payable for transportation and construction equipment and other
Debt Instrument [Line Items]
Notes payable	1,460	1,557
Oaktree facility | Senior secured term loans | Equipment-based facility
Debt Instrument [Line Items]
Loans	$ 80,321	$ 85,000

Secured Credit Facility and O47

Secured Credit Facility and Other Debt - Narrative (Details)	Apr. 03, 2020USD ($)	Apr. 03, 2019USD ($)	Apr. 03, 2017USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Amortization of debt issuance costs				$ 500,000	$ 200,000
Notes payable for transportation and construction equipment and other
Debt Instrument [Line Items]
Notes payable, noncurrent				$ 1,500,000		$ 1,600,000
Notes payable for transportation and construction equipment and other | Minimum
Debt Instrument [Line Items]
Debt instrument, term				3 years
Debt instrument, interest rate, stated percentage				3.15%
Notes payable for transportation and construction equipment and other | Maximum
Debt Instrument [Line Items]
Debt instrument, term				5 years
Debt instrument, interest rate, stated percentage				7.14%
Warrants to the Lenders Under the Loan Agreement
Debt Instrument [Line Items]
Warrants and rights outstanding				$ 3,500,000
Notes and deferred payments to sellers, Tealstone acquisition
Debt Instrument [Line Items]
Promissory notes issued to the sellers			$ 5,000,000
Cash payments to the seller			$ 55,000,000
Fair value inputs, discount rate			12.00%
Notes and deferred payments to sellers			$ 11,600,000
Accretion expense				$ 300,000
Notes and deferred payments to sellers, Tealstone acquisition | Scenario, Forecast
Debt Instrument [Line Items]
Cash payments to the seller	$ 7,500,000	$ 2,426,000
Term loan | Senior secured term loans | Loan and security agreement
Debt Instrument [Line Items]
Debt instrument face amount			$ 85,000,000
Loan prepayment offer required to make quarterly, percentage			75.00%
Debt instrument, financial covenants, maximum ratio of secured indebtedness to EBITDA, period one			3.10
Debt Instrument, financial covenants, maximum ratio of secured indebtedness to EBITDA, period two			1.80
Debt Instrument, financial covenants, minimum daily cash collateral, period two			$ 15,000,000
Debt instrument, financial covenants, minimum rolling four quarter gross margin in contract backlog, period one			60,000,000
Debt Instrument, financial covenants, minimum rolling four quarter gross margin in contract backlog, period two			70,000,000
Debt instrument, financial covenants, maximum incurrence of net capital expenditures during each of four consecutive fiscal quarters			15,000,000
Debt instrument, financial covenants, minimum bonding capacity			1,000,000,000
Debt instrument, financial covenants, minimum EBITDA during each four consecutive fiscal quarters			12,000,000
Debt issuance costs, net			$ 10,400,000
Debt instrument, term			5 years
Term loan | Senior secured term loans | Loan and security agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			8.75%

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income tax expense	$ 41,000	$ 27,000
Effective income tax rate reconciliation, change in enacted tax rate, amount			$ 19,500,000
Changes in net deferred taxes	$ 0

Stockholder's Equity - Narrativ

Stockholder's Equity - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Subsidiary, Sale of Stock [Line Items]
Allocated share-based compensation expense	$ 0.6	$ 0.6
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	$ 5.6	$ 1.7
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years 8 months 16 days
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number	200,000
Restricted stock
Subsidiary, Sale of Stock [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period (in shares)	327,451	63,839

Net Income (Loss) Per Share A50

Net Income (Loss) Per Share Attributable to Sterling Common Stockholders - Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Net income (loss) attributable to Sterling common stockholders	$ 2,489	$ (2,257)
Weighted average common shares outstanding, basic (in shares)	26,854	25,022
Shares for dilutive unvested stock and warrants (in shares)	224	0
Weighted average common shares outstanding and incremental shares assumed repurchased, diluted (in shares)	27,078	25,022
Basic income (loss) per share attributable to Sterling common stockholders (USD per share)	$ 0.09	$ (0.09)
Diluted income (loss) per share attributable to Sterling common stockholders (USD per share)	$ 0.09	$ (0.09)

Net Income (Loss) Per Share A51

Net Income (Loss) Per Share Attributable to Sterling Common Stockholders (Details Textual) shares in Millions	3 Months Ended
	Mar. 31, 2017shares
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.5

Segment Information - Narrative

Segment Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2018reporting_unitsegment
Business Acquisition [Line Items]
Number of reportable segments	2
Number of operating segments	2
Number of reporting units | reporting_unit	2

Segment Information - Revenue,

Segment Information - Revenue, Operating Income, and Assets, By Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Total Revenue	$ 222,492	$ 153,416
Operating income	6,679	(1,788)
Assets	439,035		$ 463,298
Heavy Civil Construction [Member]
Segment Reporting Information [Line Items]
Total Revenue	187,241	153,416
Operating income	1,945	(1,788)
Assets	320,437		354,090
Residential Construction
Segment Reporting Information [Line Items]
Total Revenue	35,251	0
Operating income	4,734	$ 0
Assets	$ 118,598		$ 109,208