| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Net income including noncontrolling interests | ||||||||
14,371 | 22,304 | 61,293 | 40,145 | 13,386 | 14,230 | 46,066 | 150,038 | 29,102 |
Adjustments to reconcile net income to net cash used in operating activities | ||||||||
Depreciation and amortization | ||||||||
32,409 | 33,008 | 31,027 | 31,074 | 30,591 | 23,213 | 23,599 | 14,048 | 9,009 |
Amortization of deferred gain | ||||||||
- | - | - | - | - | 1,813 | 1,798 | 1,829 | 1,813 |
Amortization of debt issue costs | ||||||||
173 | 171 | 173 | 385 | 244 | 173 | 248 | 151 | 149 |
Gain on disposal of property and equipment | ||||||||
104 | 3 | -1,069 | -3 | 27 | -721 | -6 | -35 | -18 |
Provision for doubtful accounts | ||||||||
0 | 1,254 | -98 | -587 | -279 | -3,839 | 2,630 | 4,038 | 2,426 |
Deferred taxes | ||||||||
5,514 | -18,177 | -40,237 | -66,410 | 1,486 | -2,703 | 697 | 722 | -138 |
Foreign currency transaction gains and losses | ||||||||
-1,383 | -2,783 | -2,041 | 970 | -618 | -3,217 | -374 | -2,090 | 457 |
Equity in earnings of unconsolidated joint ventures | ||||||||
6,114 | 12,416 | 7,274 | 11,634 | 10,397 | 11,338 | 12,707 | 1,839 | 11,031 |
Return on investments in unconsolidated joint ventures | ||||||||
6,551 | 18,229 | 17,825 | 4,229 | 10,794 | 3,464 | 19,002 | -2,680 | 15,406 |
Stock-based compensation | ||||||||
2,252 | - | - | - | 0 | - | - | - | - |
Contributions of treasury stock | ||||||||
14,871 | 16,865 | 12,250 | 12,279 | 12,250 | 11,091 | 11,357 | 11,356 | 11,357 |
Changes in assets and liabilities, net of acquisitions and newly consolidated joint ventures: | ||||||||
Accounts receivable | ||||||||
91,734 | -1,520 | -65,724 | 80,315 | 17,135 | -77,088 | 33,953 | 51,551 | -469,720 |
Contract assets | ||||||||
52,346 | -9,162 | 8,319 | 3,858 | 46,984 | -47,678 | 25,673 | -29,062 | 531,157 |
Prepaid expenses and current assets | ||||||||
3,766 | 25,090 | -7,947 | 3,543 | 1,424 | 10,640 | -13,430 | -680 | 27,138 |
Accounts payable | ||||||||
19,788 | -10,177 | -2,429 | 23,665 | -28,182 | -32,858 | 35,954 | 3,193 | -723 |
Accrued expenses and other current liabilities | ||||||||
-24,336 | 38,180 | 22,423 | 41,786 | -24,023 | 20,809 | 22,150 | 31,424 | -44,016 |
Billings in excess of costs | ||||||||
- | - | - | - | - | -1,019 | 250 | -505 | 152,147 |
Contract liabilities | ||||||||
11,416 | -557 | 9,239 | -3,420 | 14,884 | 36,468 | 3,852 | -134,912 | 299,639 |
Provision for contract losses | ||||||||
- | - | - | - | - | -197 | 0 | -129,674 | 143,666 |
Income taxes | ||||||||
-6,212 | -2,402 | 4,204 | -3,578 | -3,645 | 661 | 272 | 3,575 | -597 |
Other long-term liabilities | ||||||||
-43,099 | 15,910 | -6,959 | 32,362 | -12,265 | 7,974 | 3,009 | -1,116 | 10,624 |
Net cash used in operating activities | ||||||||
-118,983 | 89,612 | 179,123 | 11,613 | -60,108 | 184,812 | 108,265 | 56,990 | -65,433 |
Cash flows from investing activities: | ||||||||
Capital expenditures | ||||||||
12,637 | 23,567 | 18,077 | 14,912 | 11,041 | 9,847 | 8,871 | 5,413 | 5,152 |
Proceeds from sale of property and equipment | ||||||||
485 | 965 | 951 | 1,738 | 135 | 327 | 0 | 83 | 29 |
Payments for acquisitions, net of cash acquired | ||||||||
0 | -864 | 208,208 | 0 | 287,482 | 0 | 0 | 481,163 | 0 |
Investments in unconsolidated joint ventures | ||||||||
50 | 13,133 | 6,397 | 144 | 4,905 | 444 | 65 | 1,153 | 3,058 |
Return of investments in unconsolidated joint ventures | ||||||||
0 | 5,778 | 2,229 | 2,169 | 2,234 | 10,306 | 1,126 | 0 | 0 |
Net cash used in investing activities | ||||||||
-12,202 | -29,093 | -229,502 | -11,149 | -301,059 | 342 | -7,810 | -487,646 | -8,181 |
Cash flows from financing activities: | ||||||||
Proceeds from borrowings | ||||||||
131,500 | 67,200 | 180,000 | 60,000 | 290,000 | 0 | 0 | 260,000 | 0 |
Repayments of borrowings | ||||||||
66,500 | 67,200 | 180,000 | 470,000 | 60,000 | - | - | - | 0 |
Payments for debt costs and credit agreement | ||||||||
0 | 0 | 0 | 0 | 286 | 77 | 468 | 0 | 0 |
Contributions by noncontrolling interests | ||||||||
221 | - | - | - | 708 | - | - | - | - |
Distributions to noncontrolling interests | ||||||||
360 | - | - | - | 18,986 | - | - | - | - |
Contributions by (distributions to) noncontrolling interests, net | ||||||||
- | - | - | - | - | - | - | 4,395 | 6,497 |
Purchase of treasury stock | ||||||||
0 | 5,453 | 0 | 6 | 813 | 52,506 | 40,312 | 32,630 | 366 |
Taxes paid on vested stock | ||||||||
1,149 | - | - | - | 0 | - | - | - | - |
Net cash provided by financing activities | ||||||||
63,712 | -11,266 | -14,191 | 80,870 | 210,623 | -117,723 | -64,762 | 231,765 | 6,131 |
Effect of exchange rate changes | ||||||||
-1,179 | - | - | - | -182 | - | - | - | - |
Effect of exchange rate changes | ||||||||
- | - | - | - | - | -466 | -609 | 201 | -825 |
Net decrease in cash, cash equivalents, and restricted cash | ||||||||
-68,652 | 48,912 | -64,921 | 80,914 | -150,726 | 66,965 | 35,084 | -198,690 | -68,308 |