Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Significant Accounting Policies [Abstract]

Calculations of Basic and Diluted EPS

	Year Ended December 31,
(in thousands, except per common share data)	2019		2018		2017
Net income (loss) attributable to Tutor Perini Corporation	$	(387,690)	$	83,436	$	148,382
Weighted-average common shares outstanding, basic		50,220		49,952		49,647
Effect of dilutive restricted stock units and stock options		—		349		1,112
Weighted-average common shares outstanding, diluted		50,220		50,301		50,759
Net income (loss) attributable to Tutor Perini Corporation per common share:
Basic	$	(7.72)	$	1.67	$	2.99
Diluted	$	(7.72)	$	1.66	$	2.92
Anti-dilutive securities not included above		3,640		2,670		798

Schedule of Cash and Cash Equivalents

	As of December 31,
(in thousands)	2019		2018
Cash and cash equivalents available for general corporate purposes	$	43,760	$	51,749
Joint venture cash and cash equivalents		149,925		64,326
Cash and cash equivalents		193,685		116,075
Restricted cash		8,416		3,788
Total cash, cash equivalents and restricted cash	$	202,101	$	119,863

Tax Effects of Componenets of Other Comprehensive Income (Loss)

	Year Ended December 31,
	2019						2018						2017
(in thousands)	Before-Tax Amount		Tax (Expense) Benefit		Net-of-Tax Amount		Before-Tax Amount		Tax (Expense) Benefit		Net-of-Tax Amount		Before-Tax Amount		Tax (Expense) Benefit		Net-of-Tax Amount
Other comprehensive income (loss):
Defined benefit pension plan adjustments	$	1,180	$	(336)	$	844	$	1,079	$	(308)	$	771	$	2,416	$	(992)	$	1,424
Foreign currency translation adjustment		1,867		(530)		1,337		(4,067)		1,122		(2,945)		2,159		(886)		1,273
Unrealized gain (loss) in fair value of investments		1,982		(421)		1,561		(1,005)		227		(778)		(4)		2		(2)
Total other comprehensive income (loss)	$	5,029	$	(1,287)	$	3,742	$	(3,993)	$	1,041	$	(2,952)	$	4,571	$	(1,876)	$	2,695
Less: Other comprehensive income (loss) attributable to noncontrolling interests(a)		393		—		393		(221)		—		(221)		—		—		—
Total other comprehensive income (loss) attributable to Tutor Perini Corporation	$	4,636	$	(1,287)	$	3,349	$	(3,772)	$	1,041	$	(2,731)	$	4,571	$	(1,876)	$	2,695

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(a)The only component of other comprehensive income (loss) attributable to noncontrolling interests is foreign currency translation.

Changes in AOCI Balances by Component

(in thousands)	Defined Benefit Pension Plan		Foreign Currency Translation		Unrealized Gain (Loss) in Fair Value of Investments		Accumulated Other Comprehensive Income (Loss)
Attributable to Tutor Perini Corporation:
Balance as of December 31, 2016	$	(40,865)	$	(4,864)	$	316	$	(45,413)
Other comprehensive income (loss) before reclassifications		306		1,273		(2)		1,577
Amounts reclassified from AOCI		1,118		—		—		1,118
Balance as of December 31, 2017	$	(39,441)	$	(3,591)	$	314	$	(42,718)
Other comprehensive loss before reclassifications		(695)		(2,724)		(835)		(4,254)
Amounts reclassified from AOCI		1,466		—		57		1,523
Balance as of December 31, 2018	$	(38,670)	$	(6,315)	$	(464)	$	(45,449)
Other comprehensive income (loss) before reclassifications		(539)		944		1,621		2,026
Amounts reclassified from AOCI		1,383		—		(60)		1,323
Balance as of December 31, 2019	$	(37,826)	$	(5,371)	$	1,097	$	(42,100)

Schedule of the Impact for the Adoption of ASU 842

The effects of the changes made to the Company’s January 1, 2019 consolidated balance sheet for the adoption of ASC 842 were as follows:

BALANCE SHEET	Balance as of		Adjustments due to		Balance as of
(in thousands)	December 31, 2018(a)		ASC 842		January 1, 2019
ASSETS
Other assets(b)	$	50,523	$	43,273	$	93,796
LIABILITIES
Accrued expenses and other current liabilities(b)	$	174,325	$	11,569	$	185,894
Other long-term liabilities(b)		151,639		31,704		183,343

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(a)Balance as previously reported on the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

(b)Prior to the adoption of ASC 842, operating lease ROU assets and current and long-term operating lease liabilities were not recorded on the Consolidated Balance Sheets.

The following table presents the impacts of adoption of the new leases standard on the Consolidated Balance Sheet:

	As of December 31, 2019
			Balance Without
BALANCE SHEET			Adoption of		Effect of
(in thousands)	As Reported		ASC 842		Change
ASSETS
Other assets(a)	$	104,693	$	64,598	$	40,095
LIABILITIES
Accrued expenses and other current liabilities(a)	$	206,533	$	195,341	$	11,192
Other long-term liabilities(a)		199,288		170,373		28,915

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(a)Prior to the adoption of ASC 842, operating lease ROU assets and current and long-term operating lease liabilities were not recorded on the Consolidated Balance Sheets.