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Separate Financial Information of Subsidiary Guarantors of Indebtedness (Tables) | 6 Months Ended
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Jun. 30, 2013
Separate Financial Information of Subsidiary Guarantors of Indebtedness |
Condensed Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET — JUNE 30, 2013 (UNAUDITED) (in thousands)
|  | Tutor Perini Corporation |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 90,096 |  | $ | 36,766 |  | $ | 15,816 |  | $ | — |  | $ | 142,678 |
Restricted Cash |  | 23,441 |  | 7,869 |  | 15,709 |  | — |  | 47,019 |
Accounts Receivable |  | 206,688 |  | 1,275,041 |  | 46,915 |  | (139,133 | ) | 1,389,511 |
Costs and Estimated Earnings in Excess of Billings |  | 86,353 |  | 444,365 |  | 152 |  | (25,959 | ) | 504,911 |
Deferred Income Taxes |  | — |  | 15,527 |  | — |  | (6,075 | ) | 9,452 |
Other Current Assets |  | 64,016 |  | 21,953 |  | 2,829 |  | (34,984 | ) | 53,814 |
Total Current Assets |  | 470,594 |  | 1,801,521 |  | 81,421 |  | (206,151 | ) | 2,147,385 |
Long-term Investments |  | 46,283 |  | — |  | — |  | — |  | 46,283 |
Property and Equipment, net |  | 78,755 |  | 407,996 |  | 4,706 |  | — |  | 491,457 |
Intercompany Notes and Receivables |  | — |  | 393,739 |  | — |  | (393,739 | ) | — |
Other Assets: |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | — |  | 570,646 |  | — |  | — |  | 570,646 |
Intangible Assets, net |  | — |  | 120,281 |  | — |  | — |  | 120,281 |
Investment in Subsidiaries |  | 2,107,612 |  | 1 |  | 50 |  | (2,107,663 | ) | — |
Other |  | 75,938 |  | 10,541 |  | — |  | (5,047 | ) | 81,432 |
|  | $ | 2,779,182 |  | $ | 3,304,725 |  | $ | 86,177 |  | $ | (2,712,600 | ) | $ | 3,457,484 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |
Current Maturities of Long-term Debt |  | $ | 45,079 |  | $ | 63,055 |  | $ | — |  | $ | — |  | $ | 108,134 |
Accounts Payable |  | 127,067 |  | 771,777 |  | 54 |  | (138,386 | ) | 760,512 |
Billings in Excess of Costs and Estimated Earnings |  | 115,646 |  | 190,711 |  | 34 |  | — |  | 306,391 |
Accrued Expenses and Other Current Liabilities |  | 71,432 |  | 96,902 |  | 44,741 |  | (32,530 | ) | 180,545 |
Total Current Liabilities |  | 359,224 |  | 1,122,445 |  | 44,829 |  | (170,916 | ) | 1,355,582 |
Long-term Debt, less current maturities |  | 633,116 |  | 82,573 |  | — |  | (40,047 | ) | 675,642 |
Deferred Income Taxes |  | 102,139 |  | 7,761 |  | — |  | — |  | 109,900 |
Other Long-term Liabilities |  | 132,142 |  | 3,363 |  | — |  | — |  | 135,505 |
Intercompany Notes and Advances Payable |  | 371,706 |  | — |  | 21,995 |  | (393,701 | ) | — |
Contingencies and Commitments |  |  |  |  |  |  |  |  |  |  |
Stockholders’ Equity |  | 1,180,855 |  | 2,088,583 |  | 19,353 |  | (2,107,936 | ) | 1,180,855 |
|  | $ | 2,779,182 |  | $ | 3,304,725 |  | $ | 86,177 |  | $ | (2,712,600 | ) | $ | 3,457,484 |
CONDENSED CONSOLIDATING BALANCE SHEET - DECEMBER 31, 2012 (in thousands)
|  | Tutor Perini Corporation |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 64,663 |  | $ | 74,385 |  | $ | 29,008 |  | $ | — |  | $ | 168,056 |
Restricted Cash |  | 30,236 |  | 8,481 |  | — |  | — |  | 38,717 |
Accounts Receivable |  | 177,856 |  | 1,121,098 |  | 1,088 |  | (75,429 | ) | 1,224,613 |
Costs and Estimated Earnings in Excess of Billings |  | 111,821 |  | 377,132 |  | 152 |  | (24,103 | ) | 465,002 |
Deferred Income Taxes |  | — |  | 15,823 |  | — |  | (5,752 | ) | 10,071 |
Other Current Assets |  | 26,461 |  | 49,993 |  | 2,891 |  | (3,957 | ) | 75,388 |
Total Current Assets |  | 411,037 |  | 1,646,912 |  | 33,139 |  | (109,241 | ) | 1,981,847 |
Long-term Investments |  | 46,283 |  | — |  | — |  | — |  | 46,283 |
Property and Equipment, net |  | 64,248 |  | 416,006 |  | 4,841 |  | — |  | 485,095 |
Intercompany Notes and Receivables |  | — |  | 493,277 |  | — |  | (493,277 | ) | — |
Other Assets: |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | — |  | 570,646 |  | — |  | — |  | 570,646 |
Intangible Assets, net |  | — |  | 126,821 |  | — |  | — |  | 126,821 |
Investment in Subsidiaries |  | 2,122,116 |  | 134 |  | 50 |  | (2,122,300 | ) | — |
Other |  | 81,198 |  | 9,058 |  | 35,375 |  | (39,913 | ) | 85,718 |
|  | $ | 2,724,882 |  | $ | 3,262,854 |  | $ | 73,405 |  | $ | (2,764,731 | ) | $ | 3,296,410 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |
Current Maturities of Long-term Debt |  | $ | 42,589 |  | $ | 25,121 |  | $ | — |  | $ | — |  | $ | 67,710 |
Accounts Payable |  | 97,834 |  | 698,015 |  | 156 |  | (99,532 | ) | 696,473 |
Billings in Excess of Costs and Estimated Earnings |  | 95,657 |  | 206,070 |  | 34 |  | — |  | 301,761 |
Accrued Expenses and Other Current Liabilities |  | 30,545 |  | 108,589 |  | 38,901 |  | (9,709 | ) | 168,326 |
Total Current Liabilities |  | 266,625 |  | 1,037,795 |  | 39,091 |  | (109,241 | ) | 1,234,270 |
Long-term Debt, less current maturities |  | 603,371 |  | 105,922 |  | — |  | (39,913 | ) | 669,380 |
Deferred Income Taxes |  | 102,138 |  | 7,762 |  | — |  | — |  | 109,900 |
Other Long-term Liabilities |  | 134,874 |  | 4,122 |  | — |  | — |  | 138,996 |
Intercompany Notes and Advances Payable |  | 474,010 |  | — |  | 19,267 |  | (493,277 | ) | — |
Contingencies and Commitments |  |  |  |  |  |  |  |  |  |  |
Stockholders’ Equity |  | 1,143,864 |  | 2,107,253 |  | 15,047 |  | (2,122,300 | ) | 1,143,864 |
|  | $ | 2,724,882 |  | $ | 3,262,854 |  | $ | 73,405 |  | $ | (2,764,731 | ) | $ | 3,296,410 |
Condensed Consolidating Statement of Operations | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED JUNE 30, 2013 (in thousands)
|  | Tutor Perini Corporation |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Consolidated |
Revenues |  | $ | 141,795 |  | $ | 948,071 |  | $ | — |  | $ | (36,801 | ) | $ | 1,053,065 |
Cost of Operations |  | 122,423 |  | 865,284 |  | (3,796 | ) | (36,801 | ) | 947,110 |
Gross Profit |  | 19,372 |  | 82,787 |  | 3,796 |  | — |  | 105,955 |
General and Administrative Expenses |  | 19,328 |  | 46,677 |  | 476 |  | — |  | 66,481 |
INCOME (LOSS) FROM CONSTRUCTION OPERATIONS |  | 44 |  | 36,110 |  | 3,320 |  | — |  | 39,474 |
Equity in Earnings of Subsidiaries |  | 24,440 |  | — |  | — |  | (24,440 | ) | — |
Other Income (Expense), net |  | (4,314 | ) | 955 |  | 125 |  | — |  | (3,234 | )
Interest Expense |  | (10,300 | ) | (783 | ) | — |  | — |  | (11,083 | )
Income (loss) before Income Taxes |  | 9,870 |  | 36,282 |  | 3,445 |  | (24,440 | ) | 25,157 |
(Provision) Credit for Income Taxes |  | 5,608 |  | (13,961 | ) | (1,326 | ) | — |  | (9,679 | )
NET (LOSS) INCOME |  | $ | 15,478 |  | $ | 22,321 |  | $ | 2,119 |  | $ | (24,440 | ) | $ | 15,478 |
Other Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |
Other Comprehensive Income of Subsidiaries |  | (395 | ) | — |  | — |  | 395 |  | — |
Foreign currency translation |  | — |  | (43 | ) | — |  | — |  | (43 | )
Change in fair value of investments |  | — |  | (352 | ) | — |  | — |  | (352 | )
Change in fair value of interest rate swap |  | 292 |  | — |  | — |  | — |  | 292 |
Total Other Comprehensive Loss |  | (103 | ) | (395 | ) | — |  | 395 |  | (103 | )
Total Comprehensive Income |  | $ | 15,375 |  | $ | 21,926 |  | $ | 2,119 |  | $ | (24,045 | ) | $ | 15,375 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED JUNE 30, 2012 (in thousands)
|  | Tutor Perini Corporation |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Consolidated |
Revenues |  | $ | 94,440 |  | $ | 906,260 |  | $ | — |  | $ | (15,354 | ) | $ | 985,346 |
Cost of Operations |  | 83,035 |  | 834,481 |  | (3,877 | ) | (15,354 | ) | 898,285 |
Gross Profit |  | 11,405 |  | 71,779 |  | 3,877 |  | — |  | 87,061 |
General and Administrative Expenses |  | 16,830 |  | 47,330 |  | 501 |  | — |  | 64,661 |
Goodwill and Intangible Assets Impairment |  | — |  | 376,574 |  | — |  | — |  | 376,574 |
INCOME (LOSS) FROM CONSTRUCTION OPERATIONS |  | (5,425 | ) | (352,125 | ) | 3,376 |  | — |  | (354,174 | )
Equity in Earnings of Subsidiaries |  | (339,844 | ) | — |  | — |  | 339,844 |  | — |
Other Income (Expense), net |  | 535 |  | 331 |  | 216 |  | — |  | 1,082 |
Interest Expense |  | (9,613 | ) | (990 | ) | — |  | — |  | (10,603 | )
Income (loss) before Income Taxes |  | (354,347 | ) | (352,784 | ) | 3,592 |  | 339,844 |  | (363,695 | )
(Provision) Credit for Income Taxes |  | 5,924 |  | 10,828 |  | (1,480 | ) | — |  | 15,272 |
NET (LOSS) INCOME |  | $ | (348,423 | ) | $ | (341,956 | ) | $ | 2,112 |  | $ | 339,844 |  | $ | (348,423 | )
Other Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |
Other Comprehensive Income of Subsidiaries |  | (261 | ) | — |  | — |  | 261 |  | — |
Foreign currency translation |  | — |  | (266 | ) | — |  | — |  | (266 | )
Change in fair value of investments |  | — |  | 5 |  | — |  | — |  | 5 |
Change in fair value of interest rate swap |  | (334 | ) | — |  | — |  | — |  | (334 | )
Total Other Comprehensive Loss |  | (595 | ) | (261 | ) | — |  | 261 |  | (595 | )
Total Comprehensive Income |  | $ | (349,018 | ) | $ | (342,217 | ) | $ | 2,112 |  | $ | 340,105 |  | $ | (349,018 | )
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (UNAUDITED) SIX MONTHS ENDED JUNE 30, 2013 (in thousands)
|  | Tutor Perini Corporation |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Consolidated |
Revenues |  | $ | 281,572 |  | $ | 1,869,484 |  | $ | — |  | $ | (105,063 | ) | $ | 2,045,993 |
Cost of Operations |  | 247,512 |  | 1,705,104 |  | (7,872 | ) | (105,063 | ) | 1,839,681 |
Gross Profit |  | 34,060 |  | 164,380 |  | 7,872 |  | — |  | 206,312 |
General and Administrative Expenses |  | 38,105 |  | 91,708 |  | 946 |  | — |  | 130,759 |
INCOME (LOSS) FROM CONSTRUCTION OPERATIONS |  | (4,045 | ) | 72,672 |  | 6,926 |  | — |  | 75,553 |
Equity in Earnings of Subsidiaries |  | 48,796 |  | — |  | — |  | (48,796 | ) | — |
Other Income (Expense), net |  | (5,123 | ) | 811 |  | 251 |  | — |  | (4,061 | )
Interest Expense |  | (20,845 | ) | (1,574 | ) | — |  | — |  | (22,419 | )
Income (loss) before Income Taxes |  | 18,783 |  | 71,909 |  | 7,177 |  | (48,796 | ) | 49,073 |
(Provision) Credit for Income Taxes |  | 11,495 |  | (27,541 | ) | (2,749 | ) | — |  | (18,795 | )
NET (LOSS) INCOME |  | $ | 30,278 |  | $ | 44,368 |  | $ | 4,428 |  | $ | (48,796 | ) | $ | 30,278 |
Other Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |
Other Comprehensive Income of Subsidiaries |  | (480 | ) | — |  | — |  | 480 |  | — |
Foreign currency translation |  | — |  | (229 | ) | — |  | — |  | (229 | )
Change in fair value of investments |  | — |  | (251 | ) | — |  | — |  | (251 | )
Change in fair value of interest rate swap |  | 460 |  | — |  | — |  | — |  | 460 |
Total Other Comprehensive Loss |  | (20 | ) | (480 | ) | — |  | 480 |  | (20 | )
Total Comprehensive Income |  | $ | 30,258 |  | $ | 43,888 |  | $ | 4,428 |  | $ | (48,316 | ) | $ | 30,258 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (UNAUDITED) SIX MONTHS ENDED JUNE 30, 2012 (in thousands)
|  | Tutor Perini Corporation |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total Consolidated |
Revenues |  | $ | 163,565 |  | $ | 1,767,955 |  | $ | — |  | $ | (33,640 | ) | $ | 1,897,880 |
Cost of Operations |  | 145,729 |  | 1,620,375 |  | (7,804 | ) | (33,640 | ) | 1,724,660 |
Gross Profit |  | 17,836 |  | 147,580 |  | 7,804 |  | — |  | 173,220 |
General and Administrative Expenses |  | 35,739 |  | 97,048 |  | 1,070 |  | — |  | 133,857 |
Goodwill and Intangible Assets Impairment |  | — |  | 376,574 |  | — |  | — |  | 376,574 |
INCOME (LOSS) FROM CONSTRUCTION OPERATIONS |  | (17,903 | ) | (326,042 | ) | 6,734 |  | — |  | (337,211 | )
Equity in Earnings of Subsidiaries |  | (322,312 | ) | — |  | — |  | 322,312 |  | — |
Other Income (Expense), net |  | (1,529 | ) | (145 | ) | 448 |  | — |  | (1,226 | )
Interest Expense |  | (19,684 | ) | (2,001 | ) | — |  | — |  | (21,685 | )
Income (loss) before Income Taxes |  | (361,428 | ) | (328,188 | ) | 7,182 |  | 322,312 |  | (360,122 | )
(Provision) Credit for Income Taxes |  | 11,802 |  | 1,531 |  | (2,837 | ) | — |  | 10,496 |
NET (LOSS) INCOME |  | $ | (349,626 | ) | $ | (326,657 | ) | $ | 4,345 |  | $ | 322,312 |  | $ | (349,626 | )
Other Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |
Other Comprehensive Income of Subsidiaries |  | 264 |  | — |  | — |  | (264 | ) | — |
Foreign currency translation |  | — |  | 57 |  | — |  | — |  | 57 |
Change in fair value of investments |  | — |  | 207 |  | — |  | — |  | 207 |
Change in fair value of interest rate swap |  | (1,019 | ) | — |  | — |  | — |  | (1,019 | )
Realized loss on sale of investments recorded in net income (loss) |  | 2,005 |  | — |  | — |  | — |  | 2,005 |
Total Other Comprehensive Loss |  | 1,250 |  | 264 |  | — |  | (264 | ) | 1,250 |
Total Comprehensive Income |  | $ | (348,376 | ) | $ | (326,393 | ) | $ | 4,345 |  | $ | 322,048 |  | $ | (348,376 | )
Condensed Consolidating Statement of Cash Flows | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED) SIX MONTHS ENDED JUNE 30, 2013 (in thousands)
|  | Tutor Perini Corporation |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Total Consolidated |
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | 30,278 |  | $ | 44,368 |  | $ | 4,428 |  | $ | (48,796 | ) | $ | 30,278 |
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | 3,230 |  | 24,201 |  | 135 |  | — |  | 27,566 |
Equity in earnings of subsidiaries |  | (48,796 | ) | — |  | — |  | 48,796 |  | — |
Stock-based compensation expense |  | 4,624 |  | — |  | — |  | — |  | 4,624 |
Excess income tax benefit from stock-based compensation |  | (358 | ) | — |  | — |  | — |  | (358 | )
Deferred income taxes |  | 235 |  | 265 |  | — |  | — |  | 500 |
(Gain) loss on sale of property and equipment |  | (180 | ) | — |  | — |  | — |  | (180 | )
Other non-cash items |  | 864 |  | (975 | ) | — |  | — |  | (111 | )
Other long-term liabilities |  | 9,204 |  | (755 | ) | — |  | — |  | 8,449 |
Changes in other components of working capital |  | 41,842 |  | (111,153 | ) | (40,027 | ) | — |  | (109,338 | )
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES |  | $ | 40,943 |  | $ | (44,049 | ) | $ | (35,464 | ) | $ | — |  | $ | (38,570 | )
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisition of property and equipment |  | (16,299 | ) | (11,828 | ) | — |  | — |  | (28,127 | )
Proceeds from sale of property and equipment |  | 186 |  | 2,173 |  | — |  | — |  | 2,359 |
Change in restricted cash |  | 6,795 |  | 612 |  | (15,709 | ) | — |  | (8,302 | )
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES |  | $ | (9,318 | ) | $ | (9,043 | ) | $ | (15,709 | ) | $ | — |  | $ | (34,070 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |
Proceeds from debt |  | 395,365 |  | 26,185 |  | — |  | — |  | 421,550 |
Repayment of debt |  | (363,252 | ) | (11,735 | ) | — |  | — |  | (374,987 | )
Excess income tax benefit from stock-based compensation |  | 358 |  | — |  | — |  | — |  | 358 |
Issuance of common stock and effect of cashless exercise |  | 341 |  | — |  | — |  | — |  | 341 |
Increase (decrease) in intercompany advances |  | (39,004 | ) | 1,023 |  | 37,981 |  | — |  | — |
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES |  | $ | (6,192 | ) | $ | 15,473 |  | $ | 37,981 |  | $ | — |  | $ | 47,262 |
Net Increase (Decrease) in Cash and Cash Equivalents |  | 25,433 |  | (37,619 | ) | (13,192 | ) | — |  | (25,378 | )
Cash and Cash Equivalents at Beginning of Year |  | 64,663 |  | 74,385 |  | 29,008 |  | — |  | 168,056 |
Cash and Cash Equivalents at End of Period |  | $ | 90,096 |  | $ | 36,766 |  | $ | 15,816 |  | $ | — |  | $ | 142,678 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED) SIX MONTHS ENDED JUNE 30, 2012 (in thousands)
|  | Tutor Perini Corporation |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Total Consolidated |
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (349,626 | ) | $ | (326,657 | ) | $ | 4,345 |  | $ | 322,312 |  | $ | (349,626 | )
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |  |  |
Goodwill and intangible assets impairment |  | — |  | 376,574 |  | — |  | — |  | 376,574 |
Depreciation and amortization |  | 2,130 |  | 29,840 |  | 136 |  | — |  | 32,106 |
Equity in earnings of subsidiaries |  | 322,312 |  | — |  | — |  | (322,312 | ) | — |
Stock-based compensation expense |  | 5,074 |  | — |  | — |  | — |  | 5,074 |
Deferred income taxes |  | (38,696 | ) | (3,725 | ) | — |  | — |  | (42,421 | )
Adjustment of interest rate swap to fair value |  | 264 |  | — |  | — |  | — |  | 264 |
Loss on sale of investments |  | 2,699 |  | — |  | — |  | — |  | 2,699 |
(Gain) Loss on sale of property and equipment |  | — |  | 530 |  | — |  | — |  | 530 |
Other non-cash items |  | 58 |  | 195 |  | — |  | — |  | 253 |
Other long-term liabilities |  | (1,483 | ) | (2,523 | ) | — |  | — |  | (4,006 | )
Changes in other components of working capital |  | 55,269 |  | (120,604 | ) | 12,021 |  | — |  | (53,314 | )
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES |  | $ | (1,999 | ) | $ | (46,370 | ) | $ | 16,502 |  | $ | — |  | $ | (31,867 | )
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisition of property and equipment |  | (8,500 | ) | (13,288 | ) | — |  | — |  | (21,788 | )
Proceeds from sale of property and equipment |  | 304 |  | 9,310 |  | — |  | — |  | 9,614 |
Investments in available-for-sale securities |  | — |  | (535 | ) | — |  | — |  | (535 | )
Proceeds from sale of available-for-sale securities |  | 16,553 |  | — |  | — |  | — |  | 16,553 |
Change in restricted cash |  | (3,231 | ) | (16 | ) | — |  | — |  | (3,247 | )
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES |  | $ | 5,126 |  | $ | (4,529 | ) | $ | — |  | $ | — |  | $ | 597 |
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |
Proceeds from debt |  | 306,538 |  | 44 |  | — |  | — |  | 306,582 |
Repayment of debt |  | (277,668 | ) | (13,249 | ) | — |  | — |  | (290,917 | )
Business acquisition related payments |  | (2,932 | ) | — |  | — |  | — |  | (2,932 | )
Issuance of common stock and effect of cashless exercise |  | (307 | ) | — |  | — |  | — |  | (307 | )
Debt issuance costs |  | (10 | ) | — |  | — |  | — |  | (10 | )
Increase (decrease) in intercompany advances |  | (25,344 | ) | 28,037 |  | (2,693 | ) | — |  | — |
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES |  | $ | 277 |  | $ | 14,832 |  | $ | (2,693 | ) | $ | — |  | $ | 12,416 |
Net Increase (Decrease) in Cash and Cash Equivalents |  | 3,404 |  | (36,067 | ) | 13,809 |  | — |  | (18,854 | )
Cash and Cash Equivalents at Beginning of Year |  | 134,936 |  | 52,492 |  | 16,812 |  | — |  | 204,240 |
Cash and Cash Equivalents at End of Period |  | $ | 138,340 |  | $ | 16,425 |  | $ | 30,621 |  | $ | — |  | $ | 185,386 |

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