XML 74 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 29, 2017
Cash flows from operating activities      
Net income including noncontrolling interests $ 137,128 $ 239,436 $ 111,537
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 125,700 69,869 35,198
Amortization of deferred gain 0 (7,253) (7,283)
Amortization of debt issue costs 973 721 504
Gain associated with claim on long-term contract 0 (129,674) 0
Loss on disposal of property and equipment 1,042 780 1,184
Provision for doubtful accounts 290 5,255 12,530
Deferred taxes (123,338) (1,422) 5,403
Foreign currency transaction gains and losses 4,472 5,224 (5,121)
Equity in earnings of unconsolidated joint ventures (41,721) (36,915) (40,086)
Return on investments in unconsolidated joint ventures 51,077 35,192 33,377
Stock-based compensation 8,272 0 0
Contributions of treasury stock 53,644 45,161 40,553
Changes in assets and liabilities, net of acquisitions and newly consolidated joint ventures      
Accounts receivable (30,206) 461,304 (2,958)
Contract assets (49,999) (480,090) 0
Prepaid expenses and current assets (22,110) (23,668) (10,850)
Accounts payable (17,123) 5,566 27,334
Accrued expenses and other current liabilities 78,366 30,367 26,153
Billings in excess of costs 0 (150,873) 7,900
Contract liabilities 20,146 205,047 0
Provision for contract losses 0 (13,795) 19,431
Income taxes (5,421) 3,911 2,518
Other long-term liabilities 29,048 20,491 7,705
Net cash provided by operating activities 220,240 284,634 265,029
Cash flows from investing activities      
Capital expenditures (67,597) (29,283) (27,939)
Proceeds from sale of property and equipment 3,789 439 2,250
Payments for acquisitions, net of cash acquired (494,826) (481,163) (25,737)
Investments in unconsolidated joint ventures (24,579) (4,720) (3,502)
Return of investments in unconsolidated joint ventures 12,410 11,432 1,967
Net cash used in investing activities (570,803) (503,295) (52,961)
Cash flows from financing activities      
Proceeds from borrowings 597,200 260,000 0
Repayments of borrowings (777,200) (80,000) 0
Payments for debt costs and credit agreement (286) (545) (1,949)
Contributions by noncontrolling interests 10,093 20,656 7,481
Distributions to noncontrolling interests (42,285) (18,886) (51,366)
Purchase of treasury stock (6,272) (125,814) (111,403)
IPO proceeds, net 536,879 0 0
Dividend paid (52,093) 0 0
Deferred payments for acquisitions 0 0 (2,934)
Net cash (used in) provided by financing activities 266,036 55,411 (160,171)
Effect of exchange rate changes (1,294) (1,699) 1,235
Net (decrease) increase in cash, cash equivalents and restricted cash (85,821) (164,949) 53,132
Cash, cash equivalents and restricted cash      
Beginning of year 281,195 446,144 393,012
End of year 195,374 281,195 446,144
Cash paid during the year for      
Interest 23,254 16,805 12,905
Income taxes (net of refunds) $ 60,477 $ 17,054 $ 14,364