XML 16 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Cash flows from operating activities:      
Net income attributable to Sterling common stockholders $ 10,663 $ 1,405  
Plus: Noncontrolling interests in earnings 2,158 1,272  
Net income 12,821 2,677  
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation and amortization 8,307 8,387  
Gain on disposal of property and equipment (470) (396)  
Stock-based compensation expense   1,977  
Impairment on building held-for-sale 0 895  
Changes in operating assets and liabilities:      
Contracts receivable (30,534) (40,163)  
Costs and estimated earnings in excess of billings on uncompleted contracts 724 (4,939)  
Inventories 3,008 1,405  
Receivables from and equity in construction joint ventures (386) (333)  
Other assets (1,446) (2,429)  
Accounts payable (1,073) 12,922  
Billings in excess of costs and estimated earnings on uncompleted contracts (4,070) 12,513  
Accrued compensation and other liabilities 1,761 (5,968)  
Members' interest subject to mandatory redemption and undistributed earnings 451 1,116  
Net cash used in operating activities (9,524) (12,336)  
Cash flows from investing activities:      
Tealstone acquisition, net of cash acquired 0 (55,000)  
Additions to property and equipment (5,263) (5,870)  
Proceeds from sale of property and equipment 1,307 1,907  
Net cash used in investing activities (3,956) (58,963)  
Cash flows from financing activities:      
Cash received – Oaktree Facility 0 85,000  
Repayments – equipment-based term loan and other (665) (3,953)  
Repayments – Oaktree Facility (4,679) 0  
Debt issuance costs 0 6,889  
Loss on debt extinguishment 0 755  
Other 1,456 (119)  
Net cash (used in) provided by financing activities (3,888) 88,572  
Net (decrease) increase in cash and cash equivalents (17,368) 17,273  
Cash and cash equivalents at beginning of period 83,953 42,785 $ 42,785
Cash and cash equivalents at end of period 66,585 60,058 83,953
Supplemental disclosures of cash flow information:      
Cash paid during the period for interest 5,712 3,096  
Cash paid during the period for income taxes 279   78
Non-cash items:      
Share consideration given for Tealstone acquisition (1,882,058 shares) 0   17,061
Notes and deferred payments to sellers 0   11,647
Warrants issued to lenders (1,000,000 Warrants) 0   $ 3,500
Transportation and construction equipment acquired through financing arrangements $ 0 $ 70  
Statement of Cash Flows Parenthetical [Abstract]      
Business acquisition, equity interest issued or issuable, number of shares     1,882,000
Class of warrant or right, issued during the period     1,000,000