XML 20 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net loss $ (9,576) $ (73,511)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation, depletion and amortization 52,853 57,269
Amortization related to the 2.75% Convertible Notes (see Note 13) 4,666 4,255
Gain on sales of property and equipment, net (see Note 12) (34,190) (1,813)
Stock-based compensation 3,642 3,936
Equity in net (income) loss from unconsolidated joint ventures (6,972) 30,506
Net income from affiliates (8,039) (2,062)
Non-cash impairment charges (see Note 3) 0 24,413
Other non-cash adjustments 1,483 1,832
Changes in assets and liabilities:    
Accrual for legal settlement (see Note 16) 129,000 0
Insurance receivable for legal settlement (see Note 16) (63,000) 0
Receivables (48,584) (35,486)
Contract assets, net (28,111) 83,065
Inventories (6,062) (16,138)
Contributions to unconsolidated construction joint ventures (47,580) (24,223)
Distributions from unconsolidated construction joint ventures and affiliates 7,029 7,146
Other assets, net (7,197) (14,603)
Accounts payable 26,056 (44,103)
Accrued expenses and other liabilities, net 3,578 12,000
Net cash (used in) provided by operating activities (31,004) 12,483
Investing activities    
Purchases of marketable securities (5,000) (4,996)
Maturities of marketable securities 0 10,000
Proceeds from called marketable securities 0 20,000
Purchases of property and equipment (46,437) (52,236)
Proceeds from sales of property and equipment (see Note 12) 48,517 7,278
Other investing activities, net 4,581 (1,453)
Net cash provided by (used in) investing activities 1,661 (21,407)
Financing activities    
Proceeds from debt 0 50,000
Debt principal repayments (4,677) (4,212)
Cash dividends paid (11,890) (11,842)
Repurchases of common stock (2,497) (728)
Contributions from non-controlling partners 11,350 5,500
Distributions to non-controlling partners (5,836) (7,860)
Other financing activities, net (62) 392
Net cash (used in) provided by financing activities (13,612) 31,250
Net (decrease) increase in cash, cash equivalents and restricted cash (42,955) 22,326
Cash, cash equivalents and $1,512 and $5,835 in restricted cash at beginning of period 437,648 268,108
Cash, cash equivalents and $1,512 in restricted cash at end of both periods 394,693 290,434
Supplementary Information    
Right of use assets obtained in exchange for lease obligations 7,997 8,804
Cash paid for operating lease liabilities 10,956 10,601
Cash paid during the period for:    
Interest 8,078 8,874
Income taxes 1,817 937
Non-cash investing and financing activities:    
RSUs issued, net of forfeitures 7,554 4,834
Dividends declared but not paid 5,956 5,935
Contributions from non-controlling partners $ 9,240 $ 0