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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents ($103,850 and $43,131 related to VIEs) $ 193,685 $ 116,075
Restricted cash 8,416 3,788
Restricted investments 70,974 58,142
Accounts receivable ($91,090 and $62,482 related to VIEs) 1,354,519 1,261,072
Retainage receivable ($89,132 and $36,724 related to VIEs) 562,375 478,744
Costs and estimated earnings in excess of billings ($22,764 and $0 related to VIEs) 1,123,544 1,142,295
Other current assets ($58,128 and $30,185 related to VIEs) 197,473 115,527
Total current assets 3,510,986 3,175,643
PROPERTY AND EQUIPMENT:    
Land 39,047 41,599
Building and improvements 115,041 125,193
Construction equipment 560,547 486,034
Other equipment 183,197 181,578
Total property and equipment, gross 897,832 834,404
Less accumulated depreciation (388,147) (343,735)
Total property and equipment, net ($49,919 and $51,508 related to VIEs) 509,685 490,669
GOODWILL 205,143 [1] 585,006
INTANGIBLE ASSETS, NET 155,270 85,911
OTHER ASSETS [2] 104,693 50,523 [3]
TOTAL ASSETS 4,485,777 4,387,752
CURRENT LIABILITIES:    
Current maturities of long-term debt 124,054 16,767
Accounts payable ($93,848 and $18,070 related to VIEs) 682,699 621,728
Retainage payable ($13,967 and $0 related to VIEs) 252,181 211,956
Billings in excess of costs and estimated earnings ($422,847 and $263,764 related to VIEs) 844,389 573,190
Accrued expenses and other current liabilities ($25,402 and $34,828 related to VIEs) [2] 206,533 174,325 [3]
Total current liabilities 2,109,856 1,597,966
LONG-TERM DEBT, less current maturities, net of unamortized discount and debt issuance costs totaling $23,343 and $34,998 710,422 744,737
DEFERRED TAX LIABILITIES 35,686 105,521
OTHER LONG-TERM LIABILITIES [2] 199,288 151,639 [3]
TOTAL LIABILITIES 3,055,252 2,599,863
COMMITMENTS AND CONTINGENCIES (Note 8)
Stockholders' equity:    
Preferred stock - authorized 1,000,000 shares ($1 par value), none issued
Common stock – authorized 75,000,000 shares ($1 par value), issued and outstanding 50,278,816 and 50,025,996 shares 50,279 50,026
Additional paid-in capital 1,117,972 1,102,919
Retained earnings 313,991 701,681
Accumulated other comprehensive loss (42,100) (45,449)
Total stockholders' equity 1,440,142 1,809,177
Noncontrolling interests (9,617) (21,288)
TOTAL EQUITY 1,430,525 1,787,889
TOTAL LIABILITIES AND EQUITY $ 4,485,777 $ 4,387,752
[1] As of December 31, 2019, accumulated impairment was $867.8 million.
[2] 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.
[3] Balance as previously reported on the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.