10-Q Filing

TUTOR PERINI CORP CIK: 77543 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0000077543-16-000089`
Period End Date	20160331
Filing Date	20160504
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	tpc-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 28 Cash Flow Statement 43 Comprehensive Income 13

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, retainage	`ContractReceivableRetainage`	$484.25M	USD	Point-in-time
Accounts receivable, retainage	`ContractReceivableRetainage`	$488.04M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$254.48M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$265.19M	USD	Point-in-time
Accounts payable, retainage	`ContractPayableRetainage`	$204.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$90.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$135.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$145.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$75.45M	USD	Point-in-time
Accounts payable, retainage	`ContractPayableRetainage`	$204.77M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$45.85M	USD	Point-in-time
Unamortized discount and debt issuance cost	`DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet`	$6.70M	USD	Point-in-time
Unamortized discount and debt issuance cost	`DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet`	$10.95M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$49.16M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts receivable, including retainage of $488,043 and $484,255	`ReceivablesNetCurrent`	$1.47B	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts receivable, including retainage of $488,043 and $484,255	`ReceivablesNetCurrent`	$1.62B	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$858.36M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$905.17M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$26.31M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$26.55M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$108.84M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$91.99M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.64B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.73B	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
PROPERTY AND EQUIPMENT (net of accumulated depreciation of $265,195 and $254,477)	`PropertyPlantAndEquipmentNet`	$519.89M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	49.07M	shares	Point-in-time
PROPERTY AND EQUIPMENT (net of accumulated depreciation of $265,195 and $254,477)	`PropertyPlantAndEquipmentNet`	$523.52M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	49.07M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	49.07M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	49.07M	shares	Point-in-time
GOODWILL	`Goodwill`	$585.01M	USD	Point-in-time
GOODWILL	`Goodwill`	$585.01M	USD	Point-in-time
INTANGIBLE ASSETS, NET	`IntangibleAssetsNetExcludingGoodwill`	$96.54M	USD	Point-in-time
INTANGIBLE ASSETS, NET	`IntangibleAssetsNetExcludingGoodwill`	$95.65M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$198.63M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$196.36M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.04B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.13B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$99.97M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$88.92M	USD	Point-in-time
Accounts payable, including retainage of $204,386 and $204,767	`AccountsPayableCurrent`	$937.46M	USD	Point-in-time
Accounts payable, including retainage of $204,386 and $204,767	`AccountsPayableCurrent`	$1.01B	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$288.31M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$285.58M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$159.02M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$160.96M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.47B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.55B	USD	Point-in-time
LONG-TERM DEBT, less current maturities (net of unamortized discount and debt issuance cost of $10,948 and $6,697)	`LongTermDebtNoncurrent`	$728.77M	USD	Point-in-time
LONG-TERM DEBT, less current maturities (net of unamortized discount and debt issuance cost of $10,948 and $6,697)	`LongTermDebtNoncurrent`	$725.76M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesGrossNoncurrent`	$273.31M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesGrossNoncurrent`	$274.23M	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$138.73M	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$140.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.69B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.62B	USD	Point-in-time
CONTINGENCIES AND COMMITMENTS (NOTE 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
CONTINGENCIES AND COMMITMENTS (NOTE 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock-- authorized 1,000,000 shares ($1 par value), none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock-- authorized 1,000,000 shares ($1 par value), none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock - authorized 75,000,000 shares ($1 par value), issued and outstanding 49,072,710 shares	`CommonStockValue`	$49.07M	USD	Point-in-time
Common stock - authorized 75,000,000 shares ($1 par value), issued and outstanding 49,072,710 shares	`CommonStockValue`	$49.07M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.04B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.04B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$393.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$377.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-42.16M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-41.02M	USD	Point-in-time
TOTAL STOCKHOLERS' EQUITY	`StockholdersEquity`	$1.42B	USD	Point-in-time
TOTAL STOCKHOLERS' EQUITY	`StockholdersEquity`	$1.44B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$4.04B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$4.13B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`ContractsRevenue`	$1.07B	USD	1 Quarter
REVENUE	`ContractsRevenue`	$1.09B	USD	1 Quarter
COST OF OPERATIONS	`ContractRevenueCost`	$975.71M	USD	1 Quarter
COST OF OPERATIONS	`ContractRevenueCost`	$980.28M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$105.09M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$90.76M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$64.97M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$70.67M	USD	1 Quarter
INCOME FROM CONSTRUCTION OPERATIONS	`OperatingIncomeLoss`	$40.12M	USD	1 Quarter
INCOME FROM CONSTRUCTION OPERATIONS	`OperatingIncomeLoss`	$20.08M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-754.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$682.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$14.08M	USD	1 Quarter
Interest expense	`InterestExpense`	$11.12M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.21M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$26.72M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.32M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.08M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$15.40M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$5.13M	USD	1 Quarter
BASIC EARNINGS PER COMMON SHARE (in dollars per share)	`EarningsPerShareBasic`	$0.31	USD	1 Quarter
BASIC EARNINGS PER COMMON SHARE (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
DILUTED EARNINGS PER COMMON SHARE (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
DILUTED EARNINGS PER COMMON SHARE (in dollars per share)	`EarningsPerShareDiluted`	$0.31	USD	1 Quarter
BASIC (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	48.75M	shares	1 Quarter
BASIC (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	49.08M	shares	1 Quarter
DILUTED (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.28M	shares	1 Quarter
DILUTED (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.54M	shares	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$15.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.13M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.59M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$9.16M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.65M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$155.00K	USD	1 Quarter
(Gain) loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-285.00K	USD	1 Quarter
(Gain) loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$276.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$2.38M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-4.06M	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$2.23M	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$-1.40M	USD	1 Quarter
Changes in other components of working capital	`IncreaseDecreaseInOtherOperatingCapitalNet`	$15.07M	USD	1 Quarter
Changes in other components of working capital	`IncreaseDecreaseInOtherOperatingCapitalNet`	$27.08M	USD	1 Quarter
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.32M	USD	1 Quarter
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$15.94M	USD	1 Quarter
Acquisition of property and equipment excluding financed purchases	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.69M	USD	1 Quarter
Acquisition of property and equipment excluding financed purchases	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.81M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$798.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$939.00K	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$3.31M	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-277.00K	USD	1 Quarter
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.18M	USD	1 Quarter
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-4.62M	USD	1 Quarter
Proceeds from debt	`ProceedsFromIssuanceOfDebt`	$299.79M	USD	1 Quarter
Proceeds from debt	`ProceedsFromIssuanceOfDebt`	$280.20M	USD	1 Quarter
Repayment of debt	`RepaymentsOfDebt`	$262.11M	USD	1 Quarter
Repayment of debt	`RepaymentsOfDebt`	$287.48M	USD	1 Quarter
Issuance of common stock and effect of cashless exercise	`IssuanceOfCommonStockAndEffectOfCashlessExercise`	$-773.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfFinancingCosts`	$5.94M	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$6.36M	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$17.32M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$15.13M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.38M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$90.58M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$135.58M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$145.96M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$75.45M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$90.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$135.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$145.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$75.45M	USD	Point-in-time

Comprehensive Income 13 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$15.40M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$5.13M	USD	1 Quarter
Defined benefit pension plan adjustments	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-247.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$930.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-588.00K	USD	1 Quarter
Unrealized (loss) gain in fair value of investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-10.00K	USD	1 Quarter
Unrealized (loss) gain in fair value of investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$8.00K	USD	1 Quarter
Unrealized (loss) gain in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-35.00K	USD	1 Quarter
Unrealized (loss) gain in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$45.00K	USD	1 Quarter
Total other comprehensive (loss) income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-553.00K	USD	1 Quarter
Total other comprehensive (loss) income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.15M	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$16.55M	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$4.57M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.