XML 36 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
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash Flows from Operating Activities:    
Net income (loss) $ 44,484 $ 30,278
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 30,078 27,566
Stock-based compensation expense 9,920 4,624
Excess income tax benefit from stock-based compensation   (358)
Deferred income taxes (64) 500
(Gain) loss on sale of investments 1,786  
(Gain) loss on sale of property and equipment 427 (180)
Other long-term liabilities 5,559 8,449
Other non-cash items 1,562 (111)
Changes in other components of working capital (155,187) (109,338)
NET CASH USED IN OPERATING ACTIVITIES (61,435) (38,570)
Cash Flows from Investing Activities:    
Acquisition of property and equipment (26,730) (28,127)
Proceeds from sale of property and equipment 1,906 2,359
Proceeds from sale of available-for-sale securities 44,497  
Change in restricted cash (33) (8,302)
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES 19,640 (34,070)
Cash Flows from Financing Activities:    
Proceeds from debt 717,484 421,550
Repayment of debt (649,282) (374,987)
Business acquisition-related payments (1,260)  
Excess income tax benefit from stock-based compensation   358
Issuance of common stock and effect of cashless exercise (1,531) 341
Debt issuance costs (3,681)  
NET CASH PROVIDED BY FINANCING ACTIVITIES 61,730 47,262
Net Increase/(Decrease) in Cash and Cash Equivalents 19,935 (25,378)
Cash and Cash Equivalents at Beginning of Year 119,923 168,056
Cash and Cash Equivalents at End of Period 139,858 142,678
Eliminations
   
Cash Flows from Operating Activities:    
Net income (loss) (47,029) (48,796)
Adjustments to reconcile net income to net cash from operating activities:    
Equity in earnings of subsidiaries 47,029 48,796
Tutor Perini Corporation | Reportable legal entity
   
Cash Flows from Operating Activities:    
Net income (loss) 44,484 30,278
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 4,866 3,230
Equity in earnings of subsidiaries (47,029) (48,796)
Stock-based compensation expense 9,920 4,624
Excess income tax benefit from stock-based compensation   (358)
Deferred income taxes 4,672 235
(Gain) loss on sale of investments 1,786  
(Gain) loss on sale of property and equipment   (180)
Other long-term liabilities 6,624 9,204
Other non-cash items (3,620) 864
Changes in other components of working capital (53,928) 41,842
NET CASH USED IN OPERATING ACTIVITIES (32,225) 40,943
Cash Flows from Investing Activities:    
Acquisition of property and equipment (16,715) (16,299)
Proceeds from sale of property and equipment   186
Proceeds from sale of available-for-sale securities 44,497  
Change in restricted cash 15,465 6,795
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES 43,247 (9,318)
Cash Flows from Financing Activities:    
Proceeds from debt 685,079 395,365
Repayment of debt (604,773) (363,252)
Business acquisition-related payments (1,226)  
Excess income tax benefit from stock-based compensation   358
Issuance of common stock and effect of cashless exercise (1,531) 341
Increase (decrease) in intercompany advances (96,181) (39,004)
NET CASH PROVIDED BY FINANCING ACTIVITIES (18,632) (6,192)
Net Increase/(Decrease) in Cash and Cash Equivalents (7,610) 25,433
Cash and Cash Equivalents at Beginning of Year 88,995 64,663
Cash and Cash Equivalents at End of Period 81,385 90,096
Guarantor Subsidiaries | Reportable legal entity
   
Cash Flows from Operating Activities:    
Net income (loss) 38,515 44,368
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 25,077 24,201
Deferred income taxes (4,736) 265
(Gain) loss on sale of property and equipment 427  
Other long-term liabilities (1,065) (755)
Other non-cash items 5,182 (975)
Changes in other components of working capital (104,577) (111,153)
NET CASH USED IN OPERATING ACTIVITIES (41,177) (44,049)
Cash Flows from Investing Activities:    
Acquisition of property and equipment (10,015) (11,828)
Proceeds from sale of property and equipment 1,906 2,173
Change in restricted cash (10) 612
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (8,119) (9,043)
Cash Flows from Financing Activities:    
Proceeds from debt 32,405 26,185
Repayment of debt (44,509) (11,735)
Business acquisition-related payments (34)  
Debt issuance costs (3,681)  
Increase (decrease) in intercompany advances 97,506 1,023
NET CASH PROVIDED BY FINANCING ACTIVITIES 81,687 15,473
Net Increase/(Decrease) in Cash and Cash Equivalents 32,391 (37,619)
Cash and Cash Equivalents at Beginning of Year 18,031 74,385
Cash and Cash Equivalents at End of Period 50,422 36,766
Non-Guarantor Subsidiaries | Reportable legal entity
   
Cash Flows from Operating Activities:    
Net income (loss) 8,514 4,428
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 135 135
Changes in other components of working capital 3,318 (40,027)
NET CASH USED IN OPERATING ACTIVITIES 11,967 (35,464)
Cash Flows from Investing Activities:    
Change in restricted cash (15,488) (15,709)
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (15,488) (15,709)
Cash Flows from Financing Activities:    
Increase (decrease) in intercompany advances (1,325) 37,981
NET CASH PROVIDED BY FINANCING ACTIVITIES (1,325) 37,981
Net Increase/(Decrease) in Cash and Cash Equivalents (4,846) (13,192)
Cash and Cash Equivalents at Beginning of Year 12,897 29,008
Cash and Cash Equivalents at End of Period $ 8,051 $ 15,816