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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents ($171,727 and $173,118 related to variable interest entities (“VIEs”)) $ 358,304 $ 380,564
Restricted cash 14,749 14,116
Restricted investments 130,499 130,287
Accounts receivable ($51,822 and $84,014 related to VIEs) 1,057,229 1,054,014
Retention receivable ($154,951 and $161,187 related to VIEs) 550,224 580,926
Costs and estimated earnings in excess of billings ($72,566 and $58,089 related to VIEs) 1,156,571 1,143,846
Other current assets ($22,155 and $26,725 related to VIEs) 199,138 217,601
Total current assets 3,466,714 3,521,354
PROPERTY AND EQUIPMENT (“P&E”), net of accumulated depreciation of $546,716 and $534,171 (net P&E of $33,813 and $35,135 related to VIEs) 438,605 441,291
GOODWILL 205,143 205,143
INTANGIBLE ASSETS, NET 67,746 68,305
DEFERRED INCOME TAXES 69,737 74,083
OTHER ASSETS 122,462 119,680
TOTAL ASSETS 4,370,407 4,429,856
CURRENT LIABILITIES:    
Current maturities of long-term debt 21,109 117,431
Accounts payable ($23,199 and $24,160 related to VIEs) 600,190 466,545
Retention payable ($22,011 and $22,841 related to VIEs) 227,731 223,138
Billings in excess of costs and estimated earnings ($425,410 and $439,759 related to VIEs) 1,002,268 1,103,530
Accrued expenses and other current liabilities ($10,572 and $18,206 related to VIEs) 191,909 214,309
Total current liabilities 2,043,207 2,124,953
LONG-TERM DEBT, less current maturities, net of unamortized discount and debt issuance costs totaling $9,389 and $11,000 780,058 782,314
OTHER LONG-TERM LIABILITIES 243,908 238,678
TOTAL LIABILITIES 3,067,173 3,145,945
COMMITMENTS AND CONTINGENCIES (NOTE 11)
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 52,284,162 and 52,025,497 shares 52,284 52,025
Additional paid-in capital 1,146,008 1,146,204
Retained earnings 148,906 133,146
Accumulated other comprehensive loss (40,162) (39,787)
Total stockholders' equity 1,307,036 1,291,588
Noncontrolling interests (3,802) (7,677)
TOTAL EQUITY 1,303,234 1,283,911
TOTAL LIABILITIES AND EQUITY $ 4,370,407 $ 4,429,856