XML 19 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities    
Net income $ 43,354 $ 40,476
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 77,816 48,522
Gain on sales of property and equipment (5,066) (2,830)
Change in deferred income taxes (2,207) 0
Stock-based compensation 12,621 13,580
Equity in net loss from unconsolidated joint ventures 16,343 15,415
Net income from affiliates (5,527) (4,907)
Changes in assets and liabilities, net of the effects of acquisitions in 2018:    
Receivables (154,996) (207,908)
Costs and estimated earnings in excess of billings, net 0 14,726
Contract assets, net 355 0
Inventories (4,283) (6,814)
Contributions to unconsolidated construction joint ventures (89,000) (3,937)
Distributions from unconsolidated construction joint ventures 15,581 33,374
Other assets, net 30,728 10,523
Accounts payable 41,672 90,799
Accrued expenses and other current liabilities, net 37,352 23,595
Net cash provided by operating activities 14,743 64,614
Investing activities    
Purchases of marketable securities (9,952) (79,708)
Maturities of marketable securities 60,000 90,000
Purchases of property and equipment ($15,040 and $13,537 related to CCJVs) (86,131) (56,808)
Proceeds from sales of property and equipment 9,480 5,107
Cash paid to purchase businesses, net of cash and restricted cash acquired (55,030) 0
Other investing activities, net 320 2,321
Net cash used in investing activities (81,313) (39,088)
Financing activities    
Proceeds from debt 143,250 0
Debt principal repayments (42,149) (3,750)
Cash dividends paid (16,328) (15,506)
Repurchases of common stock (6,369) (6,713)
Distributions to non-controlling partners, net (10,128) (3,500)
Other financing activities, net 441 133
Net cash provided by (used in) financing activities 68,717 (29,336)
Net increase (decrease) in cash, cash equivalents and restricted cash 2,147 (3,810)
Cash and cash equivalents at beginning of period 233,711 189,326
Cash, cash equivalents and restricted cash of $5,599 at end of period 235,858 185,516
Cash paid during the period for:    
Interest 9,029 6,720
Income taxes 8,576 2,689
Other non-cash operating activities:    
Performance guarantees 0 5,761
Non-cash investing and financing activities:    
Common stock issued in acquisition 321,075 0
Common stock issued in conversion of 8% Convertible Notes 53,086 0
Premium on 8.0% Convertible Notes 30,702 0
Restricted stock units issued, net of forfeitures 13,537 11,184
Accrued cash dividends 6,097 5,181
Accrued equipment purchases $ 4,783 $ 2,440