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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income $ 29,587 $ 78,857 $ 2,414
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 92,270 82,569 109,050
Amortization related to long-term debt 2,390 2,366 9,448
Non-cash loss on debt extinguishment 51,052 0 0
Gain on sales of property and equipment, net (28,346) (12,617) (66,439)
Deferred income taxes 26,556 5,447 16,600
Stock-based compensation 10,477 7,765 6,407
Equity in net loss from unconsolidated construction joint ventures 18,617 19,676 765
Net income from affiliates (25,748) (13,571) (12,586)
Other non-cash adjustments 5,695 222 0
Changes in assets and liabilities:      
Receivables (128,099) 59,623 (11,317)
Contract assets, net 49,691 (113,410) 12,046
Inventories (1,430) (14,307) 774
Contributions to unconsolidated construction joint ventures (21,323) (53,787) (61,780)
Distributions from unconsolidated construction joint ventures and affiliates 29,337 19,223 22,004
Deposit for legal settlement 0 129,000 (129,000)
Other assets, net (17,718) 16,868 (11,969)
Accounts payable 66,828 (9,778) 7,396
Accrual for legal settlement 0 (129,000) 129,000
Accrued expenses and other liabilities, net 23,871 (19,499) (882)
Net cash provided by operating activities 183,707 55,647 21,931
Investing activities      
Purchases of marketable securities (9,740) (94,104) (10,000)
Maturities of marketable securities 40,000 45,000 0
Proceeds from called marketable securities 0 6 0
Purchases of property and equipment (140,384) (121,612) (94,810)
Proceeds from sales of property and equipment 38,109 26,064 94,802
Proceeds from company-owned life insurance 1,545 0 0
Proceeds from the sale of business 0 140,576 0
Acquisition of businesses, net of cash acquired (294,018) 0 0
Issuance of notes receivable 0 (7,560) (20,400)
Collection of notes receivable 5,198 630 8,930
Net cash used in investing activities (359,290) (11,000) (21,478)
Financing activities      
Proceeds from debt 305,000 50,000 0
Debt principal repayments (305,118) (125,164) (8,922)
Capped call transactions (53,035) 0 0
Redemption of warrants (13,201) 0 0
Proceeds from issuance of 3.75% Convertible Notes 373,750 0 0
Debt issuance costs (10,865) 0 0
Cash dividends paid (22,811) (23,271) (23,804)
Repurchases of common stock (4,124) (70,898) (2,730)
Contributions from non-controlling partners 43,300 13,150 20,126
Distributions to non-controlling partners (14,224) (8,567) (9,514)
Other financing activities, net 583 439 398
Net cash provided by (used in) financing activities 299,255 (164,311) (24,446)
Net increase (decrease) in cash, cash equivalents and restricted cash 123,672 (119,664) (23,993)
Cash, cash equivalents and $0, $1,512 and $1,512 in restricted cash at beginning of period 293,991 413,655 437,648
Cash, cash equivalents and $0, $0 and $1,512 in restricted cash at end of period 417,663 293,991 413,655
Supplementary Information      
Right of use assets obtained in exchange for lease obligations 39,361 17,547 23,379
Operating lease liabilities 21,458 22,611 23,203
Interest 15,640 11,511 14,593
Income taxes 15,381 3,768 2,066
Other non-cash operating activities:      
Performance guarantees (6,854) (17,409) (167)
Deferred taxes related to capped call transactions 13,394 0 0
Non-cash investing and financing activities:      
RSUs issued, net of forfeitures 11,649 8,694 8,299
Dividends declared but not paid 5,713 5,687 5,959
Contributions from non-controlling partners 2,475 4,110 9,006
Accrued equipment purchases $ 152 $ 5,745 $ (4,714)