XML 19 R7.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net loss attributable to Sterling common stockholders $ (7,328) $ (16,992)
Plus: Noncontrolling owners’ interests in earnings of subsidiaries and joint ventures (8) 292
Net loss (7,336) (16,700)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 4,162 4,274
Loss (gain) on disposal of property and equipment 175 (759)
Stock-based compensation expense 400 158
Changes in operating assets and liabilities:    
Contracts receivable (12,646) (15,712)
Costs and estimated earnings in excess of billings on uncompleted contracts (1,283) 7,576
Inventories (395) 1,886
Receivables from and equity in construction joint ventures 4,614 (545)
Other assets 297 2,069
Accounts payable 4,429 4,669
Billings in excess of costs and estimated earnings on uncompleted contracts 8,527 8,710
Accrued compensation and other liabilities 4,123 2,110
Member’s interest subject to mandatory redemption and undistributed earnings (4,227) (679)
Net cash provided by (used in) operating activities 840 (2,943)
Cash flows from investing activities:    
Additions to property and equipment (2,818) (1,161)
Proceeds from sale of property and equipment 715 2,864
Net cash (used in) provided by investing activities $ (2,103) 1,703
Cash flows from financing activities:    
Cumulative daily drawdowns – Credit Facility 65,840
Cumulative daily repayments – Credit Facility $ (69,672)
Cumulative repayments – equipment-based term loan and other $ (1,298)
Cumulative drawdowns – equipment-based revolver 14,000
Cumulative repayments – equipment-based revolver (900)
Other (46) $ (575)
Net cash provided by (used in) financing activities 11,756 (4,407)
Net increase (decrease) in cash and cash equivalents 10,493 (5,647)
Cash and cash equivalents at beginning of period 4,426 22,843
Cash and cash equivalents at end of period 14,919 17,196
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest $ 820 376
Cash paid during the period for income taxes 437
Non-cash items:    
Transportation and construction equipment acquired through financing arrangements $ 81 $ 588