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Separate Financial Information of Subsidiary Guarantors of Indebtedness (Tables) | 9 Months Ended
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Sep. 30, 2014
Separate Financial Information of Subsidiary Guarantors of Indebtedness [Abstract] |
Condensed Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET - SEPTEMBER 30, 2014 (UNAUDITED) (in thousands)
|  |  |  |  |  |  |  | Non- |  |  |  |  |  |
|  | Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
|  | Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 70,445 |  | $ | 58,914 |  | $ | 7,869 |  | $ | — |  | $ | 137,228
Restricted Cash |  |  | 3,369 |  |  | 7,898 |  |  | 35,721 |  |  | — |  |  | 46,988
Accounts Receivable |  |  | 382,369 |  |  | 1,265,389 |  |  | 41,438 |  |  | (108,602) |  |  | 1,580,594
Costs and Estimated Earnings in Excess of Billings |  |  | 65,139 |  |  | 666,477 |  |  | 152 |  |  | (11,591) |  |  | 720,177
Deferred Income Taxes |  |  | — |  |  | 15,577 |  |  | — |  |  | (7,626) |  |  | 7,951
Other Current Assets |  |  | 74,481 |  |  | 52,683 |  |  | 31,966 |  |  | (89,812) |  |  | 69,318
Total Current Assets |  |  | 595,803 |  |  | 2,066,938 |  |  | 117,146 |  |  | (217,631) |  |  | 2,562,256
Long-term Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | —
Property and Equipment, net |  |  | 91,585 |  |  | 431,029 |  |  | 4,367 |  |  | — |  |  | 526,981
Intercompany Notes and Receivables |  |  | — |  |  | 102,889 |  |  | — |  |  | (102,889) |  |  | —
Other Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | — |  |  | 585,006 |  |  | — |  |  | — |  |  | 585,006
Intangible Assets, net |  |  | — |  |  | 103,329 |  |  | — |  |  | — |  |  | 103,329
Investment in Subsidiaries |  |  | 2,146,278 |  |  | 19,518 |  |  | 50 |  |  | (2,165,846) |  |  | —
Other |  |  | 54,503 |  |  | 8,830 |  |  | — |  |  | (5,385) |  |  | 57,948
|  | $ | 2,888,169 |  | $ | 3,317,539 |  | $ | 121,563 |  | $ | (2,491,751) |  | $ | 3,835,520
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Maturities of Long-term Debt |  | $ | 21,079 |  | $ | 44,328 |  | $ | — |  | $ | — |  | $ | 65,407
Accounts Payable |  |  | 215,966 |  |  | 735,776 |  |  | 3,935 |  |  | (92,034) |  |  | 863,643
Billings in Excess of Costs and Estimated Earnings |  |  | 158,148 |  |  | 172,611 |  |  | 34 |  |  | (3,147) |  |  | 327,646
Accrued Expenses and Other Current Liabilities |  |  | 77,902 |  |  | 100,698 |  |  | 55,007 |  |  | (88,271) |  |  | 145,336
Total Current Liabilities |  |  | 473,095 |  |  | 1,053,413 |  |  | 58,976 |  |  | (183,452) |  |  | 1,402,032
Long-term Debt, less current maturities |  |  | 805,592 |  |  | 114,914 |  |  | — |  |  | (40,385) |  |  | 880,121
Deferred Income Taxes |  |  | 107,411 |  |  | 7,914 |  |  | — |  |  | — |  |  | 115,325
Other Long-term Liabilities |  |  | 95,054 |  |  | 2,061 |  |  | — |  |  | — |  |  | 97,115
Intercompany Notes and Advances Payable |  |  | 66,091 |  |  | — |  |  | 36,149 |  |  | (102,240) |  |  | —
|  |  |  |  |  |  |  |  |  |  |  | — |  |  | —
Contingencies and Commitments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | —
Stockholders’ Equity |  |  | 1,340,926 |  |  | 2,139,237 |  |  | 26,438 |  |  | (2,165,674) |  |  | 1,340,927
|  | $ | 2,888,169 |  | $ | 3,317,539 |  | $ | 121,563 |  | $ | (2,491,751) |  | $ | 3,835,520
CONDENSED CONSOLIDATING BALANCE SHEET - DECEMBER 31, 2013 (in thousands)
|  |  |  |  |  |  |  | Non- |  |  |  |  |  |
|  | Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
|  | Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 88,995 |  | $ | 18,031 |  | $ | 12,897 |  | $ | — |  | $ | 119,923
Restricted Cash |  |  | 18,833 |  |  | 8,040 |  |  | 15,721 |  |  | — |  |  | 42,594
Accounts Receivable |  |  | 208,227 |  |  | 1,126,012 |  |  | 47,958 |  |  | (90,951) |  |  | 1,291,246
Costs and Estimated Earnings in Excess of Billings |  |  | 99,779 |  |  | 505,979 |  |  | 152 |  |  | (32,662) |  |  | 573,248
Deferred Income Taxes |  |  | — |  |  | 15,866 |  |  | — |  |  | (7,626) |  |  | 8,240
Other Current Assets |  |  | 37,605 |  |  | 26,234 |  |  | 24,462 |  |  | (37,632) |  |  | 50,669
Total Current Assets |  |  | 453,439 |  |  | 1,700,162 |  |  | 101,190 |  |  | (168,871) |  |  | 2,085,920
Long-term Investments |  |  | 46,283 |  |  | — |  |  | — |  |  | — |  |  | 46,283
Property and Equipment, net |  |  | 77,562 |  |  | 415,993 |  |  | 4,570 |  |  | — |  |  | 498,125
Intercompany Notes and Receivables |  |  | — |  |  | 428,190 |  |  | — |  |  | (428,190) |  |  | —
Other Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | — |  |  | 577,756 |  |  | — |  |  | — |  |  | 577,756
Intangible Assets, net |  |  | — |  |  | 113,740 |  |  | — |  |  | — |  |  | 113,740
Investment in Subsidiaries |  |  | 2,181,280 |  |  | 29 |  |  | 50 |  |  | (2,181,359) |  |  | —
Other |  |  | 70,269 |  |  | 10,528 |  |  | — |  |  | (5,183) |  |  | 75,614
|  | $ | 2,828,833 |  | $ | 3,246,398 |  | $ | 105,810 |  | $ | (2,783,603) |  | $ | 3,397,438
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Maturities of Long-term Debt |  |  | 50,578 |  |  | 64,080 |  |  | — |  |  | — |  |  | 114,658
Accounts Payable |  |  | 162,292 |  |  | 677,997 |  |  | 6,039 |  |  | (88,103) |  |  | 758,225
Billings in Excess of Costs and Estimated Earnings |  |  | 90,267 |  |  | 177,285 |  |  | 34 |  |  | — |  |  | 267,586
Accrued Expenses and Other Current Liabilities |  |  | 58,232 |  |  | 99,257 |  |  | 48,369 |  |  | (47,841) |  |  | 158,017
Total Current Liabilities |  |  | 361,369 |  |  | 1,018,619 |  |  | 54,442 |  |  | (135,944) |  |  | 1,298,486
Long-term Debt, less current maturities |  |  | 575,356 |  |  | 84,053 |  |  | — |  |  | (40,183) |  |  | 619,226
Deferred Income Taxes |  |  | 107,448 |  |  | 6,885 |  |  | — |  |  | — |  |  | 114,333
Other Long-term Liabilities |  |  | 114,677 |  |  | 3,181 |  |  | — |  |  | — |  |  | 117,858
Intercompany Notes and Advances Payable |  |  | 422,448 |  |  | — |  |  | 23,462 |  |  | (445,910) |  |  | —
Contingencies and Commitments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stockholders’ Equity |  |  | 1,247,535 |  |  | 2,133,660 |  |  | 27,906 |  |  | (2,161,566) |  |  | 1,247,535
|  | $ | 2,828,833 |  | $ | 3,246,398 |  | $ | 105,810 |  | $ | (2,783,603) |  | $ | 3,397,438
Condensed Consolidating Statement of Operations | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SEPTEMBER 30, 2014 (in thousands)
|  |  |  |  |  |  |  | Non- |  |  |  |  |  |
|  | Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
|  | Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  | $ | 272,657 |  | $ | 1,020,335 |  | $ | — |  | $ | (42,303) |  | $ | 1,250,689
Cost of Operations |  |  | 242,717 |  |  | 913,797 |  |  | (4,363) |  |  | (42,303) |  |  | 1,109,848
Gross Profit |  | $ | 29,940 |  |  | 106,538 |  |  | 4,363 |  |  | — |  | $ | 140,841
General and Administrative Expenses |  |  | 22,128 |  |  | 47,884 |  |  | 475 |  |  | — |  |  | 70,487
INCOME FROM CONSTRUCTION OPERATIONS |  |  | 7,812 |  |  | 58,654 |  |  | 3,888 |  |  | — |  |  | 70,354
Equity in Earnings of Subsidiaries |  |  | 38,044 |  |  | — |  |  | — |  |  | (38,044) |  |  | —
Other (Expense) Income, net |  |  | (1,246) |  |  | 677 |  |  | 128 |  |  | — |  |  | (441)
Interest Expense |  |  | (10,369) |  |  | (928) |  |  | — |  |  | — |  |  | (11,297)
Income (loss) before Income Taxes |  |  | 34,241 |  |  | 58,403 |  |  | 4,016 |  |  | (38,044) |  |  | 58,616
(Provision) for Income Taxes |  |  | 1,489 |  |  | (22,870) |  |  | (1,505) |  |  | — |  |  | (22,886)
NET INCOME (LOSS) |  | $ | 35,730 |  | $ | 35,533 |  | $ | 2,511 |  | $ | (38,044) |  | $ | 35,730
Other Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Comprehensive Income of Subsidiaries |  |  | (456) |  |  | — |  |  | — |  |  | 456 |  |  | —
Foreign currency translation |  |  | — |  |  | (501) |  |  | — |  |  | — |  |  | (501)
Change in fair value of investments |  |  | — |  |  | 45 |  |  | — |  |  | — |  |  | 45
Change in fair value of interest rate swap |  |  | 129 |  |  | — |  |  | — |  |  | — |  |  | 129
Total Other Comprehensive (Loss) Income |  |  | (327) |  |  | (456) |  |  | — |  |  | 456 |  |  | (327)
Total Comprehensive Income (Loss) |  | $ | 35,403 |  | $ | 35,077 |  | $ | 2,511 |  | $ | (37,588) |  | $ | 35,403
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SEPTEMBER 30, 2013 (in thousands)
|  |  |  |  |  |  |  | Non- |  |  |  |  |  |
|  | Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
|  | Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  | $ | 175,160 |  | $ | 884,332 |  | $ | — |  | $ | (29,104) |  | $ | 1,030,388
Cost of Operations |  |  | 150,560 |  |  | 794,440 |  |  | (6,365) |  |  | (29,104) |  |  | 909,531
Gross Profit |  |  | 24,600 |  |  | 89,892 |  |  | 6,365 |  |  | — |  |  | 120,857
General and Administrative Expenses |  |  | 17,073 |  |  | 45,187 |  |  | 503 |  |  | — |  |  | 62,763
(LOSS) INCOME FROM CONSTRUCTION OPERATIONS |  |  | 7,527 |  |  | 44,705 |  |  | 5,862 |  |  | — |  |  | 58,094
Equity in Earnings of Subsidiaries |  |  | 32,148 |  |  | — |  |  | — |  |  | (32,148) |  |  | —
Other (Expense) Income, net |  |  | (9,736) |  |  | 115 |  |  | 133 |  |  | — |  |  | (9,488)
Interest Expense |  |  | (10,655) |  |  | (916) |  |  | — |  |  | — |  |  | (11,571)
Income (Loss) before Income Taxes |  |  | 19,284 |  |  | 43,904 |  |  | 5,995 |  |  | (32,148) |  |  | 37,035
Credit (Provision) for Income Taxes |  |  | 4,475 |  |  | (15,594) |  |  | (2,157) |  |  | — |  |  | (13,276)
NET INCOME (LOSS) |  | $ | 23,759 |  | $ | 28,310 |  | $ | 3,838 |  | $ | (32,148) |  | $ | 23,759
Other Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Comprehensive Income of Subsidiaries |  |  | (667) |  |  | — |  |  | — |  |  | 667 |  |  | —
Tax adjustment on minimum pension liability |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Foreign currency translation |  |  | — |  |  | (393) |  |  | — |  |  | — |  |  | (393)
Change in fair value of investments |  |  | — |  |  | (274) |  |  | — |  |  | — |  |  | (274)
Change in fair value of interest rate swap |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 5
Total Other Comprehensive (Loss) Income |  |  | (662) |  |  | (667) |  |  | — |  |  | 667 |  |  | (662)
Total Comprehensive Income (Loss) |  | $ | 23,097 |  | $ | 27,643 |  | $ | 3,838 |  | $ | (31,481) |  | $ | 23,097
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (UNAUDITED) NINE MONTHS ENDED SEPTEMBER 30, 2014 (in thousands)
|  |  |  |  |  |  |  | Non- |  |  |  |  |  |
|  | Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
|  | Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  | $ | 707,448 |  | $ | 2,702,117 |  | $ | — |  | $ | (119,133) |  | $ | 3,290,432
Cost of Operations |  |  | 614,408 |  |  | 2,438,802 |  |  | (19,364) |  |  | (119,133) |  |  | 2,914,713
Gross Profit |  |  | 93,040 |  |  | 263,315 |  |  | 19,364 |  |  | — |  |  | 375,719
General and Administrative Expenses |  |  | 58,908 |  |  | 138,129 |  |  | 1,388 |  |  | — |  |  | 198,425
INCOME FROM CONSTRUCTION OPERATIONS |  |  | 34,132 |  |  | 125,186 |  |  | 17,976 |  |  | — |  |  | 177,294
Equity in Earnings of Subsidiaries |  |  | 85,073 |  |  | — |  |  | — |  |  | (85,073) |  |  | —
Other (Expense) Income, net |  |  | (12,025) |  |  | 861 |  |  | 376 |  |  |  |  |  | (10,788)
Interest Expense |  |  | (30,195) |  |  | (2,790) |  |  | — |  |  | — |  |  | (32,985)
Income (loss) before Income Taxes |  |  | 76,985 |  |  | 123,257 |  |  | 18,352 |  |  | (85,073) |  |  | 133,521
Benefit (Provision) for Income Taxes |  |  | 3,229 |  |  | (49,209) |  |  | (7,327) |  |  | — |  |  | (53,307)
NET INCOME (LOSS) |  | $ | 80,214 |  | $ | 74,048 |  | $ | 11,025 |  | $ | (85,073) |  | $ | 80,214
Other Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Comprehensive Income of Subsidiaries |  |  | (221) |  |  | — |  |  | — |  |  | 221 |  |  | —
Foreign currency translation |  |  | — |  |  | (440) |  |  | — |  |  | — |  |  | (440)
Change in fair value of investments |  |  | — |  |  | 219 |  |  | — |  |  | — |  |  | 219
Change in fair value of interest rate swap |  |  | 286 |  |  | — |  |  | — |  |  | — |  |  | 286
Total Other Comprehensive (Loss) Income |  |  | 65 |  |  | (221) |  |  | — |  |  | 221 |  |  | 65
Total Comprehensive Income (Loss) |  | $ | 80,279 |  | $ | 73,827 |  | $ | 11,025 |  | $ | (84,852) |  | $ | 80,279
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (UNAUDITED) NINE MONTHS ENDED SEPTEMBER 30, 2013 (in thousands)
|  |  |  |  |  |  |  | Non- |  |  |  |  |  |
|  | Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
|  | Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  | $ | 456,732 |  | $ | 2,753,816 |  | $ | — |  | $ | (134,167) |  | $ | 3,076,381
Cost of Operations |  |  | 398,072 |  |  | 2,499,544 |  |  | (14,237) |  |  | (134,167) |  |  | 2,749,212
Gross Profit |  |  | 58,660 |  |  | 254,272 |  |  | 14,237 |  |  | — |  |  | 327,169
General and Administrative Expenses |  |  | 55,178 |  |  | 136,895 |  |  | 1,449 |  |  | — |  |  | 193,522
(LOSS) INCOME FROM CONSTRUCTION OPERATIONS |  |  | 3,482 |  |  | 117,377 |  |  | 12,788 |  |  | — |  |  | 133,647
Equity in Earnings of Subsidiaries |  |  | 80,944 |  |  | — |  |  | — |  |  | (80,944) |  |  | —
Other (Expense) Income, net |  |  | (14,859) |  |  | 926 |  |  | 384 |  |  | — |  |  | (13,549)
Interest Expense |  |  | (31,500) |  |  | (2,490) |  |  | — |  |  | — |  |  | (33,990)
Income (Loss) before Income Taxes |  |  | 38,067 |  |  | 115,813 |  |  | 13,172 |  |  | (80,944) |  |  | 86,108
Credit (Provision) for Income Taxes |  |  | 15,970 |  |  | (43,135) |  |  | (4,906) |  |  | — |  |  | (32,071)
NET INCOME (LOSS) |  | $ | 54,037 |  | $ | 72,678 |  | $ | 8,266 |  | $ | (80,944) |  | $ | 54,037
Other Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Comprehensive Income of Subsidiaries |  |  | (1,147) |  |  | — |  |  | — |  |  | 1,147 |  |  | —
Foreign currency translation |  |  | — |  |  | (622) |  |  | — |  |  | — |  |  | (622)
Change in fair value of investments |  |  | — |  |  | (525) |  |  | — |  |  | — |  |  | (525)
Change in fair value of interest rate swap |  |  | 465 |  |  | — |  |  | — |  |  | — |  |  | 465
Total Other Comprehensive (Loss) Income |  |  | (682) |  |  | (1,147) |  |  | — |  |  | 1,147 |  |  | (682)
Total Comprehensive Income (Loss) |  | $ | 53,355 |  | $ | 71,531 |  | $ | 8,266 |  | $ | (79,797) |  | $ | 53,355
Condensed Consolidating Statement of Cash Flows | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED) NINE MONTHS ENDED SEPTEMBER 30, 2014 (in thousands)
|  |  |  |  |  |  |  | Non- |  |  |  |  |  |
|  | Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
|  | Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 80,214 |  | $ | 74,048 |  | $ | 11,025 |  | $ | (85,073) |  | $ | 80,214
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 5,617 |  |  | 36,345 |  |  | 203 |  |  | — |  |  | 42,165
Equity in earnings of subsidiaries |  |  | (85,073) |  |  | — |  |  | — |  |  | 85,073 |  |  | —
Stock-based compensation expense |  |  | 14,127 |  |  | 249 |  |  | — |  |  | — |  |  | 14,376
Excess income tax benefit from stock-based compensation |  |  | (656) |  |  | — |  |  | — |  |  | — |  |  | (656)
Deferred income taxes |  |  | 4,140 |  |  | 11,848 |  |  | — |  |  | — |  |  | 15,988
(Gain) loss on sale of investments |  |  | 1,786 |  |  | — |  |  | — |  |  | — |  |  | 1,786
(Gain) loss on sale of property and equipment |  |  | 833 |  |  | 93 |  |  | — |  |  | — |  |  | 926
Other long-term liabilities |  |  | 2,376 |  |  | (1,120) |  |  | — |  |  | — |  |  | 1,256
Other non-cash items |  |  | 1,324 |  |  | — |  |  | — |  |  | — |  |  | 1,324
Changes in other components of working capital |  |  | (17,700) |  |  | (286,654) |  |  | 3,550 |  |  | — |  |  | (300,804)
NET CASH (USED) PROVIDED BY OPERATING ACTIVITIES |  | $ | 6,988 |  | $ | (165,191) |  | $ | 14,778 |  | $ | — |  | $ | (143,425)
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition of property and equipment excluding financed purchases |  |  | (18,743) |  |  | (19,035) |  |  | — |  |  | — |  |  | (37,778)
Proceeds from sale of property and equipment |  |  | 136 |  |  | 5,017 |  |  | — |  |  | — |  |  | 5,153
Proceeds from sale of available-for-sale securities |  |  | 44,497 |  |  | — |  |  | — |  |  | — |  |  | 44,497
Change in restricted cash |  |  | 15,464 |  |  | 142 |  |  | (20,000) |  |  | — |  |  | (4,394)
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES |  | $ | 41,354 |  | $ | (13,876) |  | $ | (20,000) |  | $ | — |  | $ | 7,478
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from debt |  |  | 952,568 |  |  | 40,442 |  |  | — |  |  | — |  |  | 993,010
Repayment of debt |  |  | (752,030) |  |  | (56,581) |  |  | — |  |  | — |  |  | (808,611)
Business acquisition-related payments |  |  | (26,430) |  |  | — |  |  | — |  |  | — |  |  | (26,430)
Excess income tax benefit from stock-based compensation |  |  | 656 |  |  | — |  |  | — |  |  | — |  |  | 656
Issuance of common stock and effect of cashless exercise |  |  | (1,692) |  |  | — |  |  | — |  |  | — |  |  | (1,692)
Debt Issuance Costs |  |  | (3,681) |  |  | — |  |  | — |  |  | — |  |  | (3,681)
Increase (decrease) in intercompany advances |  |  | (236,283) |  |  | 236,089 |  |  | 194 |  |  | — |  |  | —
NET CASH (USED) PROVIDED BY FINANCING ACTIVITIES |  | $ | (66,892) |  | $ | 219,950 |  | $ | 194 |  | $ | — |  | $ | 153,252
Net (Decrease) Increase in Cash and Cash Equivalents |  |  | (18,550) |  |  | 40,883 |  |  | (5,028) |  |  | — |  |  | 17,305
Cash and Cash Equivalents at Beginning of Year |  |  | 88,995 |  |  | 18,031 |  |  | 12,897 |  |  | — |  |  | 119,923
Cash and Cash Equivalents at End of Period |  | $ | 70,445 |  | $ | 58,914 |  | $ | 7,869 |  | $ | — |  | $ | 137,228
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED) NINE MONTHS ENDED SEPTEMBER 30, 2013 (in thousands)
|  |  |  |  |  |  |  | Non- |  |  |  |  |  |
|  | Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
|  | Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 54,037 |  | $ | 72,678 |  | $ | 8,266 |  | $ | (80,944) |  | $ | 54,037
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 5,341 |  |  | 36,222 |  |  | 203 |  |  | — |  |  | 41,766
Equity in earnings of subsidiaries |  |  | (80,944) |  |  | — |  |  | — |  |  | 80,944 |  |  | —
Stock-based compensation expense |  |  | 6,597 |  |  | — |  |  | — |  |  | — |  |  | 6,597
Excess income tax benefit from stock-based compensation |  |  | (356) |  |  | — |  |  | — |  |  | — |  |  | (356)
Deferred income taxes |  |  | (549) |  |  | 46 |  |  | — |  |  | — |  |  | (503)
(Gain) loss on sale of property and equipment |  |  | (220) |  |  | — |  |  | — |  |  | — |  |  | (220)
Other long-term liabilities |  |  | 18,723 |  |  | (846) |  |  | — |  |  | — |  |  | 17,877
Other non-cash items |  |  | 1,468 |  |  | (1,024) |  |  | — |  |  | — |  |  | 444
Changes in other components of working capital |  |  | 34,877 |  |  | (123,003) |  |  | (42,574) |  |  | — |  |  | (130,700)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES |  | $ | 38,974 |  | $ | (15,927) |  | $ | (34,105) |  | $ | — |  | $ | (11,058)
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition of property and equipment excluding financed purchases |  |  | (19,189) |  |  | (20,621) |  |  | — |  |  | — |  |  | (39,810)
Proceeds from sale of property and equipment |  |  | 222 |  |  | 2,329 |  |  | — |  |  | — |  |  | 2,551
Change in restricted cash |  |  | 6,780 |  |  | 186 |  |  | (15,715) |  |  | — |  |  | (8,749)
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES |  | $ | (12,187) |  | $ | (18,106) |  | $ | (15,715) |  | $ | — |  | $ | (46,008)
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from debt |  |  | 541,544 |  |  | 29,741 |  |  | — |  |  | — |  |  | 571,285
Repayment of debt |  |  | (513,912) |  |  | (22,315) |  |  | — |  |  | — |  |  | (536,227)
Business acquisition related payments |  |  | (17,716) |  |  | — |  |  | — |  |  | — |  |  | (17,716)
Excess income tax benefit from stock-based compensation |  |  | 356 |  |  | — |  |  | — |  |  | — |  |  | 356
Issuance of common stock and effect of cashless exercise |  |  | (786) |  |  | — |  |  | — |  |  | — |  |  | (786)
Increase (decrease) in intercompany advances |  |  | (20,104) |  |  | (19,966) |  |  | 40,070 |  |  | — |  |  | —
NET CASH (USED) PROVIDED BY FINANCING ACTIVITIES |  | $ | (10,618) |  | $ | (12,540) |  | $ | 40,070 |  | $ | — |  | $ | 16,912
Net Increase (Decrease) in Cash and Cash Equivalents |  |  | 16,169 |  |  | (46,573) |  |  | (9,750) |  |  | — |  |  | (40,154)
Cash and Cash Equivalents at Beginning of Year |  |  | 64,663 |  |  | 74,385 |  |  | 29,008 |  |  | — |  |  | 168,056
Cash and Cash Equivalents at End of Period |  | $ | 80,832 |  | $ | 27,812 |  | $ | 19,258 |  | $ | — |  | $ | 127,902

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