Tutor perini corporation (TPC)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash Flows from Operating Activities:
Net income

-360,225

97,781

154,544

95,822

45,292

107,936

87,296

-265,400

86,148

103,500

137,061

Adjustments to reconcile net income to net cash used in operating activities:
Goodwill impairment

379,900

-

-

-

-

-

-

376,574

-

0

-

Depreciation

58,818

43,724

48,387

63,759

37,919

40,216

43,383

40,583

32,193

21,380

21,292

Amortization of intangible assets

6,200

3,500

3,543

3,543

3,715

13,486

16,027

20,874

15,438

9,954

17,215

Share-based compensation expense

19,143

22,782

21,174

13,423

9,477

18,615

6,623

9,470

8,818

12,752

12,462

Excess income tax benefit from share-based compensation

-

-

-

269

186

787

1,148

-

18

218

28

Change in debt discount and deferred debt issuance costs

13,207

12,072

17,595

10,968

2,095

2,270

-

-

-

-

-

Deferred income taxes

71,609

449

23,096

10,169

-22,214

-21,460

-9,009

25,606

-10,854

3,826

-10,541

Gain on remeasurement of investment in joint venture

37,792

-

-

-

-

-

-

-

-

-

-

Adjustment interest rate swap to fair value

-

-

-

-

-

-

-

-264

-

0

-

Adjustment of investments to fair value

-

-

-

-

-

-

-

-

-4,750

-5,742

39

Loss on sale of investments

-

-

-

-

-

-1,786

-

-2,699

-10

-312

-

Gain on sale of property and equipment

4,688

-402

-1,131

-453

2,909

-801

-49

-316

726

-962

-

Changes in other components of working capital

-131,257

156,844

60,214

90,530

128,777

268,808

129,899

-

-

-

-

Cash from changes in other components of working capital:
Accounts receivable

-

-

-

-

-

-

-

-50,655

-6,657

22,054

-363,076

Costs and estimated earnings in excess of billings

-

-

-

-

-

-

-

106,604

80,670

-7,144

29,798

Other assets

-

-

-

-

-

-

-

-

-

-

0

Other long-term liabilities

1,863

-2,007

3,656

28,210

28,912

3,074

23,107

-5,104

-13,819

-5,353

-36,284

Gain on bargain purchase

-

-

-

-

-

-

-

-

47

0

0

(Gain) loss on sale of assets

-

-

-

-

-

-

-

-

-

-

-964

Other, net

-467

-398

3,170

1,874

3,680

-3,273

3,719

-148

601

86

-

Other current assets

-

-

-

-

-

-

-

-2,237

-6,631

4,690

11,017

Accounts payable

-

-

-

-

-

-

-

-89,252

-45,278

-101,143

-449,370

Billings in excess of costs and estimated earnings

-

-

-

-

-

-

-

-82,521

-25,310

11,957

-8,928

Accrued expenses

-

-

-

-

-

-

-

2,804

-36,650

-10,791

-32,112

NET CASH USED IN OPERATING ACTIVITIES

136,530

21,402

163,550

113,336

14,072

-56,678

50,728

-67,863

-31,620

25,542

-26,047

Cash Flows from Investing Activities:
Business acquisition, cash balance acquired net of cash paid

-6,607

-

-

-

-

-

-

-

-

-

-

Acquisitions, net of cash balance acquired

-

-

-

-

-

-

-

-

341,898

30,924

6,900

Acquisition of property and equipment

84,196

77,069

30,280

15,743

35,912

75,013

42,360

41,352

66,747

25,200

37,005

Proceeds from sale of property and equipment

12,581

6,387

2,744

1,899

4,980

5,335

2,663

11,759

10,049

1,811

1,873

Investments in securities

35,167

20,848

60,967

-

-

-

-

-

-

-

-

Proceeds from maturities and sales of investments in securities

24,120

21,322

1,370

-

-

-

-

-

-

-

-

Investment in available-for-sale securities

-

-

-

-

-

-

-

535

-

0

-

Sales of land, net

-

-

-

-

-

-

-

-

-

-

203

Proceeds from sale of investments

-

-

-

-

-

44,497

-

16,553

30,191

7,066

3,641

Change in restricted cash

-

-

-

-

1,483

1,776

3,877

3,280

6,816

23,550

0

Investment in other activities

-

-

-

-

-

-

-

-

-

-

2,698

NET CASH USED IN INVESTING ACTIVITIES

-76,055

-70,208

-87,133

-13,844

-32,415

-26,957

-43,574

-16,855

-375,221

-70,797

-40,886

Cash Flows from Financing Activities:
Proceeds from issuance of senior unsecured notes, net of debt discount

-

-

-

-

-

-

-

-

-

297,774

0

Proceeds from debt

931,594

1,753,160

2,161,384

1,353,895

1,013,205

1,156,739

653,280

688,425

701,753

6,803

180,182

Repayment of debt

870,277

1,738,314

2,195,068

1,562,684

1,054,371

1,026,349

676,795

626,122

554,969

35,760

-

Business acquisition related payment

-

15,951

-

-

-

26,430

31,038

11,462

1,904

6,004

0

Issuance of convertible notes

-

-

-

200,000

-

-

-

-

-

-

-

Cash payments related to share-based compensation

2,363

2,671

11,769

584

808

-

-

-

-

-

-

Repayment of other debt

-

-

-

-

-

-

-

-

-

-

150,625

Purchase of common stock under share repurchase program

-

-

-

-

-

-

-

-

-

39,391

0

Common stock dividend paid

-

-

-

-

-

-

-

-

-

47,090

0

Excess income tax benefit from share-based compensation

-

-

-

269

186

787

1,148

-

18

218

28

Issuance of common stock and effect of cashless exercise

-

-

-

-

-

-1,771

-1,882

-308

-191

-325

173

Distributions paid to noncontrolling interests

46,500

29,000

17,499

-

-

-

-

-

-

-

-

Contributions from noncontrolling interests

9,813

3,797

2,842

-

-

-

-

-

-

-

-

Debt issuance and extinguishment costs

504

-

15,266

15,086

-

3,681

-

1,999

5,004

7,901

688

NET CASH PROVIDED BY FINANCING ACTIVITIES

21,763

-28,979

-75,376

-24,190

-41,788

99,295

-55,287

48,534

139,703

168,324

29,070

Net increase (decrease) in cash, cash equivalents and restricted cash

82,238

-77,785

1,041

75,302

-60,131

15,660

-48,133

-36,184

-267,138

123,069

-37,863

Supplemental Disclosure of Cash Paid For:
Interest

-

-

-

-

-

-

-

40,183

31,379

6,151

7,804

Income taxes

-

-

-

-

-

-

-

16,309

53,055

48,421

83,747

Supplemental Disclosure of Non-cash Transactions:
Grant date fair value of common stock issued for services

-

-

-

-

-

-

-

5,075

5,608

19,673

7,411

Property and equipment acquired through financing arrangements not included above

-

-

-

-

-

-

-

2,050

1,604

-

-

Assets acquired through financing arrangements

-

-

-

-

-

-

-

-

-

10,784

5,734