XML 15 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents ($148,097 and $168,408 related to variable interest entities (“VIEs”)) $ 290,008 $ 259,351
Restricted cash 41,915 14,480
Restricted investments 98,361 91,556
Accounts receivable ($85,836 and $54,040 related to VIEs) 1,161,020 1,171,085
Retention receivable ($155,590 and $187,615 related to VIEs) 561,856 585,556
Costs and estimated earnings in excess of billings ($61,279 and $83,911 related to VIEs) 1,175,795 1,377,528
Other current assets ($31,260 and $33,340 related to VIEs) 239,736 179,215
Total current assets 3,568,691 3,678,771
PROPERTY AND EQUIPMENT (“P&E”), net of accumulated depreciation of $524,774 and $505,512 (net P&E of $36,852 and $22,133 related to VIEs) 447,303 435,088
GOODWILL 205,143 205,143
INTANGIBLE ASSETS, NET 68,865 70,542
DEFERRED INCOME TAXES 72,003 15,910
OTHER ASSETS 123,722 137,346
TOTAL ASSETS 4,485,727 4,542,800
CURRENT LIABILITIES:    
Current maturities of long-term debt 28,040 70,285
Accounts payable ($42,864 and $36,484 related to VIEs) 558,844 495,345
Retention payable ($25,467 and $44,859 related to VIEs) 221,488 246,562
Billings in excess of costs and estimated earnings ($432,558 and $480,839 related to VIEs) 1,028,960 975,812
Accrued expenses and other current liabilities ($12,239 and $5,082 related to VIEs) 199,238 179,523
Total current liabilities 2,036,570 1,967,527
LONG-TERM DEBT, less current maturities, net of unamortized discount and debt issuance costs totaling $11,538 and $13,980 876,794 888,154
OTHER LONG-TERM LIABILITIES 238,408 245,135
TOTAL LIABILITIES 3,151,772 3,100,816
COMMITMENTS AND CONTINGENCIES (NOTE 10)
Stockholders' equity:    
Preferred stock - authorized 1,000,000 shares ($1 par value), none issued 0 0
Common stock - authorized 112,500,000 shares ($1 par value), issued and outstanding 52,022,169 and 51,521,336 shares 52,022 51,521
Additional paid-in capital 1,144,783 1,140,933
Retained earnings 180,675 304,301
Accumulated other comprehensive loss (45,979) (47,037)
Total stockholders' equity 1,331,501 1,449,718
Noncontrolling interests 2,454 (7,734)
TOTAL EQUITY 1,333,955 1,441,984
TOTAL LIABILITIES AND EQUITY $ 4,485,727 $ 4,542,800