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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net loss $ (25,772) $ (25,095)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, depletion and amortization 19,733 16,737
Amortization related to long-term debt 472 652
Gain on sale of business 0 (3,278)
Gain on sales of property and equipment, net (2,037) (598)
Deferred income taxes 0 2,545
Stock-based compensation 4,828 2,614
Equity in net loss from unconsolidated joint ventures (911) 3,627
Equity in income (loss) of affiliates (5,187) (1,289)
Other non-cash adjustments (151) (299)
Changes in assets and liabilities:    
Receivables 66,800 85,957
Contract assets, net (59,307) (69,819)
Inventories (11,083) (13,805)
Contributions to unconsolidated construction joint ventures (3,350) (12,840)
Distributions from unconsolidated construction joint ventures and affiliates 2,478 250
Other assets, net (5,724) 9,652
Accounts payable (42,955) (44,028)
Accrued expenses and other liabilities, net (14,522) (1,163)
Net cash used in operating activities (76,688) (50,180)
Investing activities    
Purchases of marketable securities 0 (19,940)
Maturities of marketable securities 10,000 0
Purchases of property and equipment (40,461) (31,269)
Proceeds from sales of property and equipment 4,518 2,483
Proceeds from company owned life insurance 1,545 0
Proceeds from the sale of business 0 142,571
Issuance of notes receivable 0 (4,560)
Collection of notes receivable 62 111
Net cash provided by (used in) investing activities (24,336) 89,396
Financing activities    
Debt principal repayments (256) (63,059)
Cash dividends paid (5,687) (5,959)
Repurchases of common stock (3,523) (20,212)
Contributions from non-controlling partners 17,600 6,325
Distributions to non-controlling partners (1,350) 0
Other financing activities, net 0 1
Net cash provided by (used in) financing activities 6,784 (82,904)
Net decrease in cash, cash equivalents and restricted cash (94,240) (43,688)
Cash, cash equivalents and $0 and $1,512 in restricted cash at beginning of period 293,991 413,655
Cash, cash equivalents and $0 and $1,512 in restricted cash at end of period 199,751 369,967
Supplementary Information    
Right of use assets obtained in exchange for lease obligations 3,388 3,502
Operating lease liabilities 5,824 5,862
Interest 1,012 2,090
Income taxes 166 2
Other non-cash operating activities:    
Performance guarantees (6,513) 0
Non-cash investing and financing activities:    
RSUs issued, net of forfeitures 9,552 6,606
Dividends declared but not paid 5,704 5,897
Contributions from non-controlling partners 1,324 0
Accrued equipment purchases $ 3,693 $ 5,511