XML 39 R53.htm IDEA: XBRL DOCUMENT v2.4.0.8
Separate Financial Information of Subsidiary Guarantors of Indebtedness, Condensed Consolidating Statement of Cash Flows (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash Flows from Operating Activities:    
Net income $ 15,939 $ 14,800
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 14,659 13,793
Stock-based compensation expense 5,429 3,078
Deferred income taxes 45 348
(Gain) loss on sale of property and equipment 427 (76)
Other long-term liabilities 3,494 1,851
Other non-cash items (427) (197)
Changes in other components of working capital (80,696) (118,052)
NET CASH USED IN OPERATING ACTIVITIES (41,130) (84,455)
Cash Flows from Investing Activities:    
Acquisition of property and equipment (8,352) (12,179)
Proceeds from sale of property and equipment 1,417 239
Change in restricted cash (675) (6,514)
NET CASH USED IN INVESTING ACTIVITIES (7,610) (18,454)
Cash Flows from Financing Activities:    
Proceeds from debt 178,038 293,014
Repayment of debt (113,551) (225,684)
Business acquisition-related payments (1,031)  
Issuance of common stock and effect of cashless exercise (1,575) (159)
NET CASH PROVIDED BY FINANCING ACTIVITIES 61,881 67,171
Net Increase/(Decrease) in Cash and Cash Equivalents 13,141 (35,738)
Cash and Cash Equivalents at Beginning of Year 119,923 168,056
Cash and Cash Equivalents at End of Period 133,064 132,318
Eliminations
   
Cash Flows from Operating Activities:    
Net income (15,281) (24,356)
Adjustments to reconcile net income to net cash from operating activities:    
Equity in earnings of subsidiaries 15,281 24,356
Tutor Perini Corporation | Reportable legal entity
   
Cash Flows from Operating Activities:    
Net income 15,939 14,800
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,780 1,549
Equity in earnings of subsidiaries (15,281) (24,356)
Stock-based compensation expense 5,316 3,078
Deferred income taxes 4,624 33
(Gain) loss on sale of property and equipment 427  
Other long-term liabilities 2,886 1,803
Other non-cash items 855 1,366
Changes in other components of working capital (48,652) 24,353
NET CASH USED IN OPERATING ACTIVITIES (32,106) 22,626
Cash Flows from Investing Activities:    
Acquisition of property and equipment (4,041) (5,090)
Proceeds from sale of property and equipment (427) 6
Change in restricted cash 15,465 6,795
NET CASH USED IN INVESTING ACTIVITIES 10,997 1,711
Cash Flows from Financing Activities:    
Proceeds from debt 250,656 293,650
Repayment of debt (179,032) (220,262)
Issuance of common stock and effect of cashless exercise (1,575) (159)
Increase (decrease) in intercompany advances (63,312) (97,470)
NET CASH PROVIDED BY FINANCING ACTIVITIES 6,737 (24,241)
Net Increase/(Decrease) in Cash and Cash Equivalents (14,372) 96
Cash and Cash Equivalents at Beginning of Year 88,995 64,663
Cash and Cash Equivalents at End of Period 74,623 64,759
Guarantor Subsidiaries | Reportable legal entity
   
Cash Flows from Operating Activities:    
Net income 11,619 22,047
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 12,947 12,176
Stock-based compensation expense 113  
Deferred income taxes (4,579) 315
(Gain) loss on sale of property and equipment   (76)
Other long-term liabilities 608 48
Other non-cash items (1,282) (1,563)
Changes in other components of working capital (37,991) (141,988)
NET CASH USED IN OPERATING ACTIVITIES (18,565) (109,041)
Cash Flows from Investing Activities:    
Acquisition of property and equipment (4,311) (7,089)
Proceeds from sale of property and equipment 1,844 233
Change in restricted cash (664) (4)
NET CASH USED IN INVESTING ACTIVITIES (3,131) (6,860)
Cash Flows from Financing Activities:    
Proceeds from debt (72,618) (636)
Repayment of debt 65,481 (5,422)
Business acquisition-related payments (1,031)  
Increase (decrease) in intercompany advances 60,771 96,123
NET CASH PROVIDED BY FINANCING ACTIVITIES 52,603 90,065
Net Increase/(Decrease) in Cash and Cash Equivalents 30,907 (25,836)
Cash and Cash Equivalents at Beginning of Year 18,031 74,385
Cash and Cash Equivalents at End of Period 48,938 48,549
Non-Guarantor Subsidiaries | Reportable legal entity
   
Cash Flows from Operating Activities:    
Net income 3,662 2,309
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization (68) 68
Changes in other components of working capital 5,947 (417)
NET CASH USED IN OPERATING ACTIVITIES 9,541 1,960
Cash Flows from Investing Activities:    
Change in restricted cash (15,476) (13,305)
NET CASH USED IN INVESTING ACTIVITIES (15,476) (13,305)
Cash Flows from Financing Activities:    
Increase (decrease) in intercompany advances 2,541 1,347
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,541 1,347
Net Increase/(Decrease) in Cash and Cash Equivalents (3,394) (9,998)
Cash and Cash Equivalents at Beginning of Year 12,897 29,008
Cash and Cash Equivalents at End of Period $ 9,503 $ 19,010