XML 24 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net income $ 75,801 $ 66,200 $ 68,248
Adjustments to reconcile net income to net cash provided by operating activities:      
Non-cash restructuring gains (939) (1,000) (1,044)
Depreciation, depletion and amortization 66,345 64,375 64,309
Gain on sales of property and equipment (4,182) (8,358) (8,286)
Change in deferred income taxes (4,824) 9,842 28,258
Stock-based compensation 15,764 13,383 8,763
Equity in net loss (income) from unconsolidated joint ventures 14,634 (15,614) (43,374)
Net Income from affiliates (7,107) (7,177) (3,210)
Changes in assets and liabilities:      
Receivables (60,272) (75,756) (32,877)
Costs and estimated earnings in excess of billings, net (26,066) 2,100 (22,374)
Inventories (7,252) 308 13,367
Contributions to unconsolidated construction joint ventures (16,937) (11,795) (69,313)
Distributions from unconsolidated construction joint ventures 39,955 19,344 53,367
Prepaid and other assets, net 13,211 (13,873) (1,078)
Accounts payable 36,716 37,731 8,363
Accrued expenses and other current liabilities 11,348 (6,564) 3,859
Net cash provided by operating activities 146,195 73,146 66,978
Investing activities      
Purchases of marketable securities (124,543) (129,685) (104,971)
Maturities of marketable securities 120,000 50,000 29,260
Proceeds from called marketable securities 0 55,000 75,000
Purchases of property and equipment ($18,309 million, $17,810 million and $0 related to CCJVs) (67,695) (90,970) (44,179)
Proceeds from sales of property and equipment 10,202 12,946 13,148
Collection of notes receivable 1,052 4,331 943
Other investing activities, net 1,798 1,988 92
Net cash used in investing activities (59,186) (96,390) (30,707)
Financing activities      
Proceeds from long-term debt 25,000 30,000 30,000
Debt principal payments (45,000) (45,025) (46,763)
Cash dividends paid (20,687) (20,563) (20,445)
Purchases of common stock (6,977) (5,227) (3,777)
Contributions from non-controlling partners 11,500 5,250 7,462
Distributions to non-controlling partners (7,109) (5,258) (6,992)
Other financing activities 649 557 1,119
Net cash used in financing activities (42,624) (40,266) (39,396)
Cash and cash equivalents at beginning of year 189,326 252,836 255,961
Cash and cash equivalents at end of year 233,711 189,326 252,836
Increase (decrease) in cash and cash equivalents 44,385 (63,510) (3,125)
Cash paid during the period for:      
Interest 11,446 13,392 14,601
Income taxes 33,948 29,872 4,298
Other non-cash activities:      
Performance guarantees 5,497 17,596 (10,306)
Non-cash investing and financing activities:      
Restricted stock units issued, net of forfeitures (See Note 13) 11,505 21,101 6,220
Accrued cash dividends 5,183 5,151 5,124
Accrued equipment purchases (1,945) (3,865) 2,891
Joint Venture Consolidated [Member]      
Changes in assets and liabilities:      
Net cash provided by operating activities 36,900 37,800 (16,400)
Joint Venture Consolidated [Member] | Consolidated Construction Joint Venture [Member]      
Investing activities      
Purchases of property and equipment ($18,309 million, $17,810 million and $0 related to CCJVs) 18,309,000 17,810,000 $ 0
Financing activities      
Cash and cash equivalents at beginning of year 73,115    
Cash and cash equivalents at end of year $ 94,359 $ 73,115