Changes in the revaluation of the liability to noncontrolling interest owners are reflected in retained earnings rather than net income; however, such changes impact basic and diluted net income (loss) per share attributable to Sterling common stockholders. The revaluations for the three and nine months ended September 30, 2012 resulted in reductions of $0.05 and $0.07, respectively, in basic and diluted net income (loss) per share attributable to Sterling common stockholders.Strong Financial Position We are in very sound financial condition. At September 30, 2012:
- Working capital totaled $82.6 million, including $54.5 million of cash, cash equivalents and short-term investments;
- Up to $38.2 million in borrowings was available under the credit facility with an optional increase amount of $50 million; and,
- Tangible net worth of $157.9 million was more than adequate to support our bonding requirements.