Good day, ladies and gentlemen, and welcome to the Tutor Perini Corporation second-area 2019 income conference call. My name is Doug, and I’ll be your coordinator nowadays. [Operator instructions] As a reminder, this conference call is being recorded for replay purposes. [Operator instructions] I would now like to show the convention over in your host for nowadays, Mr. Jorge Casado, vice chairman of investor members of the family. Please continue.
Jorge Casado — Vice President of Investor Relations
Hello, each person, and thank you for your participation these days. Joining us are Ronald Tutor, chairman and CEO; Gary Smalley, executive vice president, and CFO. Before we talk about our effects, I’ll remind every body that during the state-of-the-art call, we will be making forward-searching statements, which mirror control’s modern evaluation of current trends and data. There is an inherent chance that our actual consequences ought to fluctuate materially.
You can find our disclosures about dangerous elements that could doubtlessly contribute to such variations in our maximum recent 10-K, which become filed on February 27, 2019. The corporation assumes no obligation to update ahead-searching statements, whether as a result of new data, destiny activities or in any other case, other than as required with the aid of regulation. In addition, in the course of the ultra-modern call, we will be discussing certain non-GAAP economic measures. The suitable GAAP monetary reconciliations are incorporated in our earnings launch, which we issued in advance nowadays and filed with the SEC, and which is also posted in the Investor Relations segment of our website.
Thanks, Jorge. Good afternoon, and thank you for becoming a member of us. As you saw in our income release, we have been required to take a non-coins goodwill impairment rate inside the second quarter prompted by way of sustained lower in our stock charge that has passed off seeing our first-zone income release in May of this yr. While the impairment is full-size in length, it isn’t the result of our settlement execution or in any way indicative of our enterprise outlook.
I don’t particularly appreciate having to address the impairment charge, but I’m as high-quality about the destiny of our enterprise as I have ever been. We continue to be in a wonderful aggressive function with the equal robust marketplace call for our offerings as contemplated in our giant new awards over the past yr, our new file backlog, and the fantastic variety of new challenge possibilities. I could reiterate that the goodwill impairment rate changed into strictly driven by our stock charge’s dramatic downturn. That impairment price once more has no effect on our cash flows, our economic strength or our capacity to execute our current running backlog or compete for destiny opportunities.
Excluding the impairment activity, our 2d-zone results were negatively impacted through large delays on positive tasks, particularly those predominant one being owner-pushed delays continuing on California High-Speed Rail and sizeable climate influences, rain, and wind, on the Newark Airport Terminal One in New Jersey, which have shifted the timing of revenue and profit contributions ahead into the fourth sector this 12 months and into 2020.
Despite numerous commitments rendered with the aid of excessive-pace rail over the past 3 years, our mission has been severely behind schedule by means of the inability to supply the proper-of-way homes committed underneath the settlement. Through negotiations, however, inside the first six months of this year, we had been committed and been part of discussions that now has the basic balance of proper-of-methods turned over using the fourth area of 2019. Unfortunately, this defers approximately $250 million of revenue from 2019 to 2020 and ’21.
The most effective fine associated with this improvement is that we’ve just reached a very giant and equitable agreement of all our costs related to these delays with a alternate order and the cash to be paid rapidly inside the month of August. The Newark airport, although it is going thoroughly, has experienced considerable climate delays.