10-Q Filing

TUTOR PERINI CORP CIK: 77543 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0000077543-17-000027`
Period End Date	20170331
Filing Date	20170503
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	tpc-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 28 Cash Flow Statement 49 Comprehensive Income 13

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, retainage	`ContractReceivableRetainage`	$569.39M	USD	Point-in-time
Accounts receivable, retainage	`ContractReceivableRetainage`	$594.93M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$313.78M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$333.53M	USD	Point-in-time
Accounts payable, retainage	`ContractPayableRetainage`	$264.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$146.10M	USD	Point-in-time
Accounts payable, retainage	`ContractPayableRetainage`	$258.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$75.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$104.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$90.58M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$60.16M	USD	Point-in-time
Unamortized discount and debt issuance cost	`DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet`	$52.29M	USD	Point-in-time
Unamortized discount and debt issuance cost	`DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet`	$56.07M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$50.50M	USD	Point-in-time
Accounts receivable, including retainage of $594,926 and $569,391	`ReceivablesNetCurrent`	$1.74B	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts receivable, including retainage of $594,926 and $569,391	`ReceivablesNetCurrent`	$1.75B	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`	$831.83M	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`	$840.76M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$58.48M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$66.02M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.84B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.81B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $333,531 and $313,783	`PropertyPlantAndEquipmentNet`	$477.63M	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 $333,531 and $313,783	`PropertyPlantAndEquipmentNet`	$462.69M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
GOODWILL	`Goodwill`	$585.01M	USD	Point-in-time
GOODWILL	`Goodwill`	$585.01M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	49.21M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	49.69M	shares	Point-in-time
INTANGIBLE ASSETS, NET	`IntangibleAssetsNetExcludingGoodwill`	$93.00M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	49.69M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	49.21M	shares	Point-in-time
INTANGIBLE ASSETS, NET	`IntangibleAssetsNetExcludingGoodwill`	$92.11M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$44.85M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$45.23M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.00B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.04B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$27.60M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$85.89M	USD	Point-in-time
Accounts payable, including retainage of $264,336 and $258,294	`AccountsPayableCurrent`	$965.93M	USD	Point-in-time
Accounts payable, including retainage of $264,336 and $258,294	`AccountsPayableCurrent`	$994.02M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$331.11M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$288.80M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$112.45M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$107.92M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.52B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.39B	USD	Point-in-time
LONG-TERM DEBT, less current maturities, net of unamortized discounts and debt issuance costs totaling $52,293 and $56,072	`LongTermDebtNoncurrent`	$753.19M	USD	Point-in-time
LONG-TERM DEBT, less current maturities, net of unamortized discounts and debt issuance costs totaling $52,293 and $56,072	`LongTermDebtNoncurrent`	$673.63M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesGrossNoncurrent`	$130.62M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesGrossNoncurrent`	$131.01M	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$162.02M	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$159.78M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.44B	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.49B	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 49,694,018 and 49,211,353 shares	`CommonStockValue`	$49.21M	USD	Point-in-time
Common stock - authorized 75,000,000 shares ($1 par value), issued and outstanding 49,694,018 and 49,211,353 shares	`CommonStockValue`	$49.69M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.08B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.07B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$473.62M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$487.39M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-45.41M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-45.22M	USD	Point-in-time
TOTAL STOCKHOLERS' EQUITY	`StockholdersEquity`	$1.56B	USD	Point-in-time
TOTAL STOCKHOLERS' EQUITY	`StockholdersEquity`	$1.55B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$4.00B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$4.04B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`ContractsRevenue`	$1.12B	USD	1 Quarter
REVENUE	`ContractsRevenue`	$1.09B	USD	1 Quarter
COST OF OPERATIONS	`ContractRevenueCost`	$1.01B	USD	1 Quarter
COST OF OPERATIONS	`ContractRevenueCost`	$980.28M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$105.09M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$102.72M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$65.70M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$64.97M	USD	1 Quarter
INCOME FROM CONSTRUCTION OPERATIONS	`OperatingIncomeLoss`	$40.12M	USD	1 Quarter
INCOME FROM CONSTRUCTION OPERATIONS	`OperatingIncomeLoss`	$37.02M	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$682.00K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$417.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$15.56M	USD	1 Quarter
Interest expense	`InterestExpense`	$14.08M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$21.87M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$26.72M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.11M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.32M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$13.76M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$15.40M	USD	1 Quarter
BASIC EARNINGS PER COMMON SHARE (in dollars per share)	`EarningsPerShareBasic`	$0.28	USD	1 Quarter
BASIC EARNINGS PER COMMON SHARE (in dollars per share)	`EarningsPerShareBasic`	$0.31	USD	1 Quarter
DILUTED EARNINGS PER COMMON SHARE (in dollars per share)	`EarningsPerShareDiluted`	$0.31	USD	1 Quarter
DILUTED EARNINGS PER COMMON SHARE (in dollars per share)	`EarningsPerShareDiluted`	$0.27	USD	1 Quarter
BASIC (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	49.08M	shares	1 Quarter
BASIC (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	49.28M	shares	1 Quarter
DILUTED (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	50.95M	shares	1 Quarter
DILUTED (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.28M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$13.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.40M	USD	1 Quarter
Depreciation	`Depreciation`	$11.92M	USD	1 Quarter
Depreciation	`Depreciation`	$20.11M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$886.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$886.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$4.31M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$3.65M	USD	1 Quarter
Change in debt discounts and deferred debt issuance costs	`ChangeInDebtDiscountAndDeferredDebtIssuanceCosts`	$3.84M	USD	1 Quarter
Change in debt discounts and deferred debt issuance costs	`ChangeInDebtDiscountAndDeferredDebtIssuanceCosts`	$1.69M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$526.00K	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`	$131.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-4.06M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.82M	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$-267.00K	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`	$73.53M	USD	1 Quarter
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$15.94M	USD	1 Quarter
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-32.84M	USD	1 Quarter
Acquisition of property and equipment excluding financed purchases	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.81M	USD	1 Quarter
Acquisition of property and equipment excluding financed purchases	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.67M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$259.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$939.00K	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$9.65M	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$3.31M	USD	1 Quarter
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.18M	USD	1 Quarter
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-15.07M	USD	1 Quarter
Proceeds from debt	`ProceedsFromIssuanceOfDebt`	$313.98M	USD	1 Quarter
Proceeds from debt	`ProceedsFromIssuanceOfDebt`	$299.79M	USD	1 Quarter
Repayment of debt	`RepaymentsOfDebt`	$296.49M	USD	1 Quarter
Repayment of debt	`RepaymentsOfDebt`	$287.48M	USD	1 Quarter
Issuance of common stock and effect of cashless exercise	`IssuanceOfCommonStockAndEffectOfCashlessExercise`	$-10.81M	USD	1 Quarter
Debt issuance costs	`PaymentsOfFinancingCosts`	$5.94M	USD	1 Quarter
Debt issuance costs	`PaymentsOfFinancingCosts`	$57.00K	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$6.36M	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$6.63M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$15.13M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-41.29M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$146.10M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$75.45M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$104.82M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$90.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$146.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$75.45M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$104.82M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$90.58M	USD	Point-in-time

Comprehensive Income 13 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$13.76M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$15.40M	USD	1 Quarter
Defined benefit pension plan adjustments	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-247.00K	USD	1 Quarter
Defined benefit pension plan adjustments	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-268.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-54.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$930.00K	USD	1 Quarter
Unrealized (loss) gain in fair value of investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$8.00K	USD	1 Quarter
Unrealized (loss) gain in fair value of investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-21.00K	USD	1 Quarter
Unrealized loss in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-35.00K	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$193.00K	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.15M	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$16.55M	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$13.96M	USD	1 Quarter

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