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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating Activities    
Net income $ 7,947 $ 929
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation, depletion and amortization 29,502 31,331
Gain on sales of property and equipment (1,966) (1,286)
Stock-based compensation 8,563 4,992
Equity in net income from unconsolidated joint ventures (5,688) (18,547)
Gain on real estate entity (2,452) 0
Changes in assets and liabilities:    
Receivables (87,286) (54,262)
Costs and estimated earnings in excess of billings, net (30,645) (22,958)
Inventories (9,158) (2,102)
Contributions to unconsolidated construction joint ventures (8,018) (40,750)
Distributions from unconsolidated construction joint ventures 5,445 22,020
Other assets, net (7,544) 923
Accounts payable 47,529 21,861
Accrued expenses and other current liabilities, net (158) 1,186
Net cash used in operating activities (53,929) (56,663)
Investing Activities    
Purchases of marketable securities (29,894) (29,974)
Maturities of marketable securities 20,000 16,700
Proceeds from called marketable securities 35,000 30,000
Purchases of property and equipment (48,837) (16,152)
Proceeds from sales of property and equipment 2,510 2,062
Other investing activities, net (128) 912
Net cash (used in) provided by investing activities (21,349) 3,548
Financing Activities    
Long-term debt principal repayments (2,500) (306)
Cash dividends paid (10,267) (10,208)
Repurchases of common stock (4,845) (3,291)
Other financing activities, net 1,272 (894)
Net cash used in financing activities (16,340) (14,699)
Decrease in cash and cash equivalents (91,618) (67,814)
Cash and cash equivalents at beginning of period 252,836 255,961
Cash and cash equivalents at end of period 161,218 188,147
Cash paid during the period for:    
Interest 6,911 7,220
Income taxes 6,438 412
Other non-cash operating activities:    
Performance guarantees 11,247 (9,590)
Non-cash investing and financing activities:    
Restricted stock units issued, net of forfeitures 21,013 6,135
Accrued cash dividends 5,148 5,118
Accrued equipment purchases $ (5,823) $ 3,324