Tutor perini corporation (TPC)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash Flows from Operating Activities:
Net income

26,138

-76,229

26,721

-315,439

4,722

55,391

25,436

27,896

-10,942

82,847

25,300

32,633

13,764

30,261

28,801

21,360

15,400

8,712

19,677

11,777

5,126

27,722

35,730

28,545

15,939

33,259

23,759

15,478

14,800

41,635

42,591

-348,423

-1,203

24,048

35,477

19,694

6,929

Adjustments to reconcile net income to net cash used in operating activities:
Depreciation

16,999

16,934

15,341

13,712

12,831

12,800

11,531

10,092

9,301

10,581

8,819

8,877

20,110

19,121

16,453

16,262

11,923

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets

5,800

3,500

900

900

900

800

900

914

886

886

886

885

886

886

886

885

886

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,570

9,795

10,594

-

12,087

15,419

14,659

-

14,200

13,773

13,793

-

14,570

16,316

15,790

-

12,609

8,942

8,043

Share-based compensation expense

4,244

4,843

4,200

4,594

5,506

4,982

5,700

6,019

6,081

5,117

5,637

6,114

4,306

3,314

3,150

3,312

3,647

-7,587

3,740

4,165

9,159

4,239

4,456

4,491

5,429

26

1,973

1,546

3,078

2,046

2,350

1,655

3,419

1,998

-265

3,470

3,615

Excess income tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

18

Change in debt discount and deferred debt issuance costs

3,486

3,417

3,348

3,268

3,174

3,110

3,048

2,987

2,927

2,870

2,775

8,114

3,836

3,844

3,776

1,661

1,687

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-2,474

23,291

-2,003

50,463

-142

682

-117

70

-186

23,738

-643

-525

526

1,533

8,265

216

155

-

-

-

-

-5,472

-16,052

109

-45

-9,512

1,003

-152

-348

-16,402

-413

48,114

-5,693

-11,266

1,687

-864

-411

Adjustment of investments to fair value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-264

-

-

-

-

Loss on sale of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-2,699

-10

0

0

0

Gain on sale of property and equipment

461

2,889

320

1,372

107

421

651

-3

-1,471

-1,507

27

218

131

-153

-96

81

-285

2,088

508

37

276

125

-499

0

-427

-269

40

104

76

193

21

-609

79

-170

1,042

450

-596

Changes in other components of working capital

90,884

-138,405

-170,323

23,279

154,192

20,731

22,226

29,615

84,272

-82,999

10,434

59,246

73,533

71,861

-51,000

54,602

15,067

64,991

-15,764

52,469

27,081

-31,996

145,617

74,491

80,696

-801

21,362

-8,714

118,052

-

50,821

712

52,602

-

75,654

65,971

66,229

Cash from changes in other components of working capital:
Other long-term liabilities

1,061

-2,116

770

1,032

2,177

599

2,670

-6,415

1,139

6,532

-75

-977

-1,824

36,765

-4,744

250

-4,061

30,291

-1,421

-2,339

2,381

1,818

-4,303

2,065

3,494

5,230

9,428

6,598

1,851

3,295

-4,393

-4,220

214

-5,900

-3,500

-4,176

-243

Other, net

2,876

-345

474

-520

-76

-208

-1,092

722

180

7,955

-3,000

-1,518

-267

1,521

1,553

199

-1,399

-2,012

2,433

1,032

2,227

-1,949

238

-1,989

427

4,163

-555

-86

197

-594

699

514

-767

-2,650

1,852

1,463

-64

NET CASH USED IN OPERATING ACTIVITIES

-34,007

25,165

222,851

13,299

-124,785

56,163

27,619

11,023

-73,403

161,646

36,524

-1,775

-32,845

19,170

89,590

-11,368

15,944

-6,602

52,432

-29,434

-2,324

86,747

-81,990

-20,305

-41,130

61,786

27,512

45,885

-84,455

-39,986

3,990

-6,829

-25,038

93,392

-36,540

-40,818

-47,654

Cash Flows from Investing Activities:
Acquisitions, net of cash balance acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,025

176,162

91,091

70,620

Acquisition of property and equipment

11,693

21,519

23,331

24,934

14,412

12,658

16,108

28,333

19,970

20,568

1,529

2,511

5,672

5,470

1,592

3,869

4,812

2,547

3,821

23,853

5,691

37,235

11,048

18,378

8,352

2,550

11,683

15,948

12,179

7,615

11,949

11,139

10,649

27,053

17,523

13,239

8,932

Proceeds from sale of property and equipment

583

8,281

671

3,428

201

925

1,342

817

3,303

1,304

104

1,077

259

760

47

153

939

2,760

1,098

324

798

182

3,247

489

1,417

112

192

2,120

239

9

2,136

5,646

3,968

3,523

3,104

2,529

893

Investments in securities

9,696

-

-

-

8,357

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in securities

-

-

-

-

-

-

5,292

5,261

3,288

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities and sales of investments in securities

6,211

-

2,947

4,807

3,324

-

6,320

4,975

3,007

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in available-for-sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

535

-

-

-

0

Proceeds from sale of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

16,553

22,803

0

7,388

0

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-727

294

3,305

7,281

-921

-4,600

-277

-2,618

4,361

-642

675

-4,872

447

1,788

6,514

17

16

3,234

13

-380

3,374

3,814

8

NET CASH USED IN INVESTING ACTIVITIES

-14,595

-9,966

-24,843

-22,002

-19,244

-11,720

-13,738

-27,802

-16,948

-30,204

-40,785

-10,731

-5,413

-1,838

-818

-4,010

-7,178

-7,068

-1,802

-18,929

-4,616

-34,435

-12,162

27,250

-7,610

2,434

-11,938

-15,616

-18,454

-7,623

-9,829

-8,727

9,324

-4,372

-191,230

-97,952

-81,667

Cash Flows from Financing Activities:
Proceeds from debt

348,688

282,455

-67,000

322,139

394,000

250,983

255,500

581,677

665,000

169,927

715,000

962,480

313,977

350,803

292,000

411,307

299,785

340,486

199,229

193,290

280,200

163,729

275,526

539,446

178,038

81,995

149,735

128,536

293,014

176,846

204,997

208,082

98,500

133,971

309,607

200,000

58,175

Repayment of debt

283,915

287,238

55,880

267,468

259,691

293,554

279,477

578,724

586,559

328,996

694,118

875,469

296,485

388,005

303,025

584,170

287,484

348,258

259,874

184,127

262,112

217,738

159,329

535,731

113,551

140,568

161,240

149,303

225,684

140,579

194,626

195,810

95,107

291,910

226,438

3,502

33,119

Business acquisition related payment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

25,170

229

1,031

-

-

-

-

1,372

7,158

1,744

1,188

0

0

-1,096

3,000

Cash payments related to share-based compensation

694

0

0

-1

2,364

0

213

150

2,308

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess income tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

18

Issuance of common stock and effect of cashless exercise

-

-

-

-

-

-

-

-

-

-

-338

0

-10,809

-

-

-

-

-

-32

-3

-773

-79

-161

44

-1,575

-1,096

-1,127

500

-159

-1

0

0

-307

-147

-300

256

0

Distributions paid to noncontrolling interests

13,500

25,000

17,500

0

4,000

6,500

10,000

7,500

5,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contributions from noncontrolling interests

-

3,294

1,140

2,581

2,798

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance and extinguishment costs

-

-

-

-

-

-

-

-

-

-2

1,959

13,252

57

218

212

8,719

5,937

-

-

-

-

-

-

-

-

-

-

-

-

6

1,983

0

10

15

2,756

2,208

25

NET CASH PROVIDED BY FINANCING ACTIVITIES

50,579

-26,489

-139,240

56,749

130,743

-46,274

-34,190

-19,648

71,133

-173,096

18,585

72,509

6,626

-37,322

-11,650

18,418

6,364

-7,772

-60,653

9,322

17,315

-53,957

91,522

-151

61,881

-72,199

-30,350

-19,909

67,171

34,888

1,230

10,528

1,888

-158,101

80,113

192,642

25,049

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

1,977

-11,290

58,768

48,046

-13,286

-1,831

-20,309

-36,427

-19,218

-41,654

14,324

60,003

-31,632

-19,990

77,122

3,040

15,130

-21,442

-10,023

-39,041

10,375

-1,645

-2,630

6,794

13,141

-7,979

-14,776

10,360

-35,738

-12,721

-4,609

-5,028

-13,826

-69,081

-147,657

53,872

-104,272

Supplemental Disclosure of Cash Paid For:
Interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,617

16,447

5,383

-

5,240

16,571

5,107

16,178

4,785

15,900

3,320

13,665

3,441

13,182

1,091

Income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,068

21,965

11,703

-

5,757

9,790

2,902

-1,338

1,854

15,012

781

12,830

17,869

21,060

1,296

Supplemental Disclosure of Non-cash Transactions:
Property and equipment additions accrued in accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,331

Grant date fair value of common stock issued for services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,736

3,218

439

0

0

3,654

1,421

547

1,022

3,322

717

Property and equipment acquired through financing arrangements not included above

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

4,713

22,332

-

-

-

-

0

0

0

2,050

-

-

-

-

Assets acquired through financing arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,604