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Separate Financial Information of Subsidiary Guarantors of Indebtedness (Tables) | 12 Months Ended
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Dec. 31, 2015
Separate Financial Information of Subsidiary Guarantors of Indebtedness [Abstract] |
Condensed Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET - DECEMBER 31, 2015 (in thousands)
|  |  |  |  |  |  | Non- |  |  |  |  |  |
| Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
| Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 47,196 |  | $ | 26,892 |  | $ | 1,364 |  | $ | — |  | $ | 75,452
Restricted cash |  | 3,369 |  |  | 3,283 |  |  | 39,201 |  |  | — |  |  | 45,853
Accounts receivable |  | 358,437 |  |  | 1,179,919 |  |  | 82,004 |  |  | (146,745) |  |  | 1,473,615
Costs and estimated earnings in excess of billings |  | 114,580 |  |  | 868,026 |  |  | 152 |  |  | (77,583) |  |  | 905,175
Deferred income taxes |  | 2,255 |  |  | 21,356 |  |  | 2,695 |  |  | — |  |  | 26,306
Other current assets |  | 60,119 |  |  | 48,482 |  |  | 11,662 |  |  | (11,419) |  |  | 108,844
Total current assets | $ | 585,956 |  | $ | 2,147,958 |  | $ | 137,078 |  | $ | (235,747) |  | $ | 2,635,245
Long-term investments | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Property and equipment, net |  | 105,306 |  |  | 414,143 |  |  | 4,076 |  |  | — |  |  | 523,525
Intercompany notes and receivables |  | — |  |  | 148,637 |  |  | — |  |  | (148,637) |  |  | —
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | — |  |  | 585,006 |  |  | — |  |  | — |  |  | 585,006
Intangible assets, net |  | — |  |  | 96,540 |  |  | — |  |  | — |  |  | 96,540
Investment in subsidiaries |  | 1,962,983 |  |  | — |  |  | — |  |  | (1,962,983) |  |  | —
Other |  | 64,486 |  |  | 128,094 |  |  | 15,268 |  |  | (5,723) |  |  | 202,125
| $ | 2,718,731 |  | $ | 3,520,378 |  | $ | 156,422 |  | $ | (2,353,090) |  | $ | 4,042,441
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current maturities of long-term debt | $ | 107,283 |  | $ | 41,634 |  | $ | — |  | $ | (60,000) |  | $ | 88,917
Accounts payable |  | 211,679 |  |  | 890,268 |  |  | 3,222 |  |  | (167,705) |  |  | 937,464
Billings in excess of costs and estimated earnings |  | 89,303 |  |  | 203,003 |  |  | 1,716 |  |  | (5,711) |  |  | 288,311
Accrued expenses and other current liabilities |  | 6,145 |  |  | 115,392 |  |  | 39,810 |  |  | (2,331) |  |  | 159,016
Total Current Liabilities | $ | 414,410 |  | $ | 1,250,297 |  | $ | 44,748 |  | $ | (235,747) |  | $ | 1,473,708
Long-term debt, less current maturities |  | 659,433 |  |  | 80,821 |  |  | — |  |  | (5,723) |  |  | 734,531
Deferred income taxes |  | — |  |  | 273,310 |  |  | — |  |  | — |  |  | 273,310
Other long-term liabilities |  | 106,588 |  |  | 3,278 |  |  | 30,799 |  |  | — |  |  | 140,665
Intercompany notes and advances payable |  | 118,073 |  |  | — |  |  | 30,564 |  |  | (148,637) |  |  | —
Contingencies and commitments |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Stockholders’ equity |  | 1,420,227 |  |  | 1,912,672 |  |  | 50,311 |  |  | (1,962,983) |  |  | 1,420,227
| $ | 2,718,731 |  | $ | 3,520,378 |  | $ | 156,422 |  | $ | (2,353,090) |  | $ | 4,042,441
CONDENSED CONSOLIDATING BALANCE SHEET - DECEMBER 31, 2014 (in thousands)
|  |  |  |  |  |  | Non- |  |  |  |  |  |
| Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
| Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 75,087 |  | $ | 36,764 |  | $ | 23,732 |  | $ | — |  | $ | 135,583
Restricted cash |  | 3,369 |  |  | 5,274 |  |  | 35,727 |  |  | — |  |  | 44,370
Accounts receivable |  | 299,427 |  |  | 1,246,635 |  |  | 37,064 |  |  | (103,622) |  |  | 1,479,504
Costs and estimated earnings in excess of billings |  | 70,344 |  |  | 700,362 |  |  | 152 |  |  | (44,456) |  |  | 726,402
Deferred income taxes |  | — |  |  | 15,639 |  |  | — |  |  | 2,323 |  |  | 17,962
Other current assets |  | 39,196 |  |  | 42,750 |  |  | 24,397 |  |  | (37,608) |  |  | 68,735
Total current assets | $ | 487,423 |  | $ | 2,047,424 |  | $ | 121,072 |  | $ | (183,363) |  | $ | 2,472,556
Long-term investments |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Property and equipment, net |  | 92,413 |  |  | 430,876 |  |  | 4,313 |  |  | — |  |  | 527,602
Intercompany notes and receivables |  | — |  |  | 122,401 |  |  | — |  |  | (122,401) |  |  | —
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | — |  |  | 585,006 |  |  | — |  |  | — |  |  | 585,006
Intangible assets, net |  | — |  |  | 100,254 |  |  | — |  |  | — |  |  | 100,254
Investment in subsidiaries |  | 2,154,562 |  |  | 19,519 |  |  | 50 |  |  | (2,174,131) |  |  | —
Other |  | 83,503 |  |  | 9,847 |  |  | — |  |  | (5,453) |  |  | 87,897
| $ | 2,817,901 |  | $ | 3,315,327 |  | $ | 125,435 |  | $ | (2,485,348) |  | $ | 3,773,315
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current maturities of long-term debt |  | 34,776 |  |  | 46,516 |  |  | — |  |  | — |  |  | 81,292
Accounts payable |  | 186,958 |  |  | 716,851 |  |  | 3,749 |  |  | (109,384) |  |  | 798,174
Billings in excess of costs and estimated earnings |  | 139,020 |  |  | 185,807 |  |  | 2,672 |  |  | (8,203) |  |  | 319,296
Accrued expenses and other current liabilities |  | 33,018 |  |  | 95,177 |  |  | 58,571 |  |  | (26,952) |  |  | 159,814
Total Current Liabilities | $ | 393,772 |  | $ | 1,044,351 |  | $ | 64,992 |  | $ | (144,539) |  | $ | 1,358,576
Long-term debt, less current maturities |  | 712,460 |  |  | 112,060 |  |  | — |  |  | (40,453) |  |  | 784,067
Deferred income taxes |  | 142,457 |  |  | 7,914 |  |  | — |  |  | — |  |  | 150,371
Other long-term liabilities |  | 112,899 |  |  | 1,897 |  |  | — |  |  | — |  |  | 114,796
Intercompany notes and advances payable |  | 90,373 |  |  | — |  |  | 35,619 |  |  | (125,992) |  |  | —
Contingencies and commitments |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Stockholders’ equity |  | 1,365,939 |  |  | 2,149,105 |  |  | 24,824 |  |  | (2,174,363) |  |  | 1,365,505
| $ | 2,817,900 |  | $ | 3,315,327 |  | $ | 125,435 |  | $ | (2,485,347) |  | $ | 3,773,315
Condensed Consolidating Statement of Operations | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31, 2015 (in thousands)
|  |  |  |  |  |  | Non- |  |  |  |  |  |
| Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
| Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
Revenue | $ | 1,064,723 |  | $ | 4,104,871 |  | $ | 13,405 |  | $ | (262,527) |  | $ | 4,920,472
Cost of operations |  | (918,322) |  |  | (3,908,424) |  |  | — |  |  | 262,527 |  |  | (4,564,219)
Gross profit | $ | 146,401 |  | $ | 196,447 |  | $ | 13,405 |  | $ | — |  | $ | 356,253
General and administrative expenses |  | (77,806) |  |  | (171,153) |  |  | (1,881) |  |  | — |  |  | (250,840)
INCOME FROM CONSTRUCTION OPERATIONS | $ | 68,595 |  | $ | 25,294 |  | $ | 11,524 |  | $ | — |  | $ | 105,413
Equity in earnings of subsidiaries |  | 23,367 |  |  | — |  |  | — |  |  | (23,367) |  |  | —
Other income, net |  | 8,155 |  |  | 3,745 |  |  | 553 |  |  | — |  |  | 12,453
Interest expense |  | (41,007) |  |  | (3,020) |  |  | — |  |  | — |  |  | (44,027)
Income (Loss) before income taxes |  | 59,110 |  |  | 26,019 |  |  | 12,077 |  |  | (23,367) |  |  | 73,839
Provision for income taxes |  | (13,818) |  |  | (10,060) |  |  | (4,669) |  |  | — |  |  | (28,547)
NET INCOME (LOSS) | $ | 45,292 |  | $ | 15,959 |  | $ | 7,408 |  | $ | (23,367) |  | $ | 45,292
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income of subsidiaries |  | (2,448) |  |  | — |  |  | — |  |  | 2,448 |  |  | —
Change in pension benefit plans assets/liabilities |  | 2,026 |  |  | — |  |  | — |  |  | — |  |  | 2,026
Foreign currency translation |  | — |  |  | (3,214) |  |  | — |  |  | — |  |  | (3,214)
Change in fair value of investments |  | — |  |  | 766 |  |  | — |  |  | — |  |  | 766
Change in fair value of interest rate swap |  | (125) |  |  | — |  |  | — |  |  | — |  |  | (125)
Total other comprehensive (loss) income |  | (547) |  |  | (2,448) |  |  | — |  |  | 2,448 |  |  | (547)
Total comprehensive income (loss) | $ | 44,745 |  | $ | 13,511 |  | $ | 7,408 |  | $ | (20,919) |  | $ | 44,745
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31, 2014 (in thousands)
|  |  |  |  |  |  | Non- |  |  |  |  |  |
| Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
| Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
Revenue | $ | 959,010 |  | $ | 3,690,075 |  | $ | — |  | $ | (156,776) |  | $ | 4,492,309
Cost of operations |  | (808,285) |  |  | (3,353,098) |  |  | 17,740 |  |  | 156,776 |  |  | (3,986,867)
Gross profit |  | 150,725 |  |  | 336,977 |  |  | 17,740 |  |  | — |  |  | 505,442
General and administrative expenses |  | (80,151) |  |  | (181,714) |  |  | (1,887) |  |  | — |  |  | (263,752)
INCOME FROM CONSTRUCTION OPERATIONS |  | 70,574 |  |  | 155,263 |  |  | 15,853 |  |  | — |  |  | 241,690
Equity in earnings of subsidiaries |  | 95,501 |  |  | — |  |  | — |  |  | (95,501) |  |  | —
Other (expense) income, net |  | (8,322) |  |  | (1,705) |  |  | 491 |  |  | — |  |  | (9,536)
Interest expense |  | (40,658) |  |  | (4,058) |  |  | — |  |  | — |  |  | (44,716)
Income (Loss) before income taxes |  | 117,095 |  |  | 149,500 |  |  | 16,344 |  |  | (95,501) |  |  | 187,438
Provision for income taxes |  | (9,159) |  |  | (63,411) |  |  | (6,932) |  |  | — |  |  | (79,502)
NET INCOME (LOSS) | $ | 107,936 |  | $ | 86,089 |  | $ | 9,412 |  | $ | (95,501) |  | $ | 107,936
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income of subsidiaries |  | (433) |  |  | — |  |  | — |  |  | 433 |  |  | —
Change in pension benefit plans assets/liabilities |  | (8,155) |  |  | — |  |  | — |  |  | — |  |  | (8,155)
Foreign currency translation |  | — |  |  | (638) |  |  | — |  |  | — |  |  | (638)
Change in fair value of investments |  | — |  |  | 205 |  |  | — |  |  | — |  |  | 205
Change in fair value of interest rate swap |  | 349 |  |  | — |  |  | — |  |  | — |  |  | 349
Total other comprehensive income (loss) |  | (8,239) |  |  | (433) |  |  | — |  |  | 433 |  |  | (8,239)
Total comprehensive income (loss) | $ | 99,697 |  | $ | 85,656 |  | $ | 9,412 |  | $ | (95,068) |  | $ | 99,697
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS YEAR ENDED DECEMBER 31, 2013 (in thousands)
|  |  |  |  |  |  | Non- |  |  |  |  |  |
| Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
| Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
Revenue | $ | 680,440 |  | $ | 3,315,608 |  | $ | — |  | $ | 179,624 |  | $ | 4,175,672
Cost of Operations |  | (590,675) |  |  | (2,960,569) |  |  | 22,100 |  |  | (179,624) |  |  | (3,708,768)
Gross Profit |  | 89,765 |  |  | 355,039 |  |  | 22,100 |  |  | — |  |  | 466,904
General and Administrative Expenses |  | (77,507) |  |  | (183,723) |  |  | (1,852) |  |  | — |  |  | (263,082)
INCOME FROM CONSTRUCTION OPERATIONS |  | 12,258 |  |  | 171,316 |  |  | 20,248 |  |  | — |  |  | 203,822
Equity in earnings of subsidiaries |  | 122,875 |  |  | — |  |  | — |  |  | (122,875) |  |  | —
Other (expense) income, net |  | (27,162) |  |  | 8,075 |  |  | 512 |  |  | — |  |  | (18,575)
Interest expense |  | (41,987) |  |  | (3,645) |  |  | — |  |  | — |  |  | (45,632)
Income (Loss) before income taxes |  | 65,984 |  |  | 175,746 |  |  | 20,760 |  |  | (122,875) |  |  | 139,615
Benefit (Provision) for income taxes |  | 21,312 |  |  | (65,852) |  |  | (7,779) |  |  | — |  |  | (52,319)
NET INCOME (LOSS) | $ | 87,296 |  | $ | 109,894 |  | $ | 12,981 |  | $ | (122,875) |  | $ | 87,296
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income of subsidiaries |  | (1,293) |  |  | — |  |  | — |  |  | 1,293 |  |  | —
Change in pension benefit plans assets/liabilities |  | 10,910 |  |  | — |  |  | — |  |  | — |  |  | 10,910
Foreign currency translation |  | — |  |  | (738) |  |  | — |  |  | — |  |  | (738)
Change in fair value of investments |  | — |  |  | (555) |  |  | — |  |  | — |  |  | (555)
Change in fair value of interest rate swap |  | 578 |  |  | — |  |  | — |  |  | — |  |  | 578
Total other comprehensive (loss) income |  | 10,195 |  |  | (1,293) |  |  | — |  |  | 1,293 |  |  | 10,195
Total comprehensive income (loss) | $ | 97,491 |  | $ | 108,601 |  | $ | 12,981 |  | $ | (121,582) |  | $ | 97,491
Condensed Consolidating Statement of Cash Flows | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31, 2015 (in thousands)
|  |  |  |  |  |  | Non- |  |  |  |  |  |
| Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
| Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | $ | 45,292 |  | $ | 15,959 |  | $ | 7,408 |  | $ | (23,367) |  | $ | 45,292
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | 10,707 |  |  | 32,746 |  |  | 276 |  |  | — |  |  | 43,729
Equity in earnings of subsidiaries |  | (23,367) |  |  | — |  |  | — |  |  | 23,367 |  |  | —
share-based compensation expense |  | 9,477 |  |  | — |  |  | — |  |  | — |  |  | 9,477
Excess income tax benefit from share-based compensation |  | (186) |  |  | — |  |  | — |  |  | — |  |  | (186)
Adjustment interest rate swap to fair value |  | (224) |  |  | 224 |  |  | — |  |  | — |  |  | —
Deferred income taxes |  | 1,399 |  |  | 36,083 |  |  | (15,268) |  |  | — |  |  | 22,214
(Gain) loss on sale of property and equipment |  | 82 |  |  | (2,991) |  |  | — |  |  | — |  |  | (2,909)
Other long-term liabilities |  | (3,157) |  |  | 32,069 |  |  | — |  |  | — |  |  | 28,912
Other non-cash items |  | (248) |  |  | (3,432) |  |  | — |  |  | — |  |  | (3,680)
Changes in other components of working capital |  | (154,300) |  |  | 49,868 |  |  | (24,345) |  |  | — |  |  | (128,777)
NET CASH (USED) PROVIDED BY OPERATING ACTIVITIES | $ | (114,525) |  | $ | 160,526 |  | $ | (31,929) |  | $ | — |  | $ | 14,072
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition of property and equipment excluding financed purchases |  | (21,587) |  |  | (14,286) |  |  | (39) |  |  | — |  |  | (35,912)
Proceeds from sale of property and equipment |  | — |  |  | 4,980 |  |  | — |  |  | — |  |  | 4,980
(Increase) decrease in intercompany advances |  | — |  |  | (102,763) |  |  | — |  |  | 102,763 |  |  | —
Change in restricted cash |  | — |  |  | 1,991 |  |  | (3,474) |  |  | — |  |  | (1,483)
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES | $ | (21,587) |  | $ | (110,078) |  | $ | (3,513) |  | $ | 102,763 |  | $ | (32,415)
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from debt |  | 981,855 |  |  | 31,350 |  |  | — |  |  | — |  |  | 1,013,205
Repayment of debt |  | (962,701) |  |  | (91,670) |  |  | — |  |  | — |  |  | (1,054,371)
Excess income tax benefit from share-based compensation |  | 186 |  |  | — |  |  | — |  |  | — |  |  | 186
Issuance of common stock and effect of cashless exercise |  | (808) |  |  | — |  |  | — |  |  | — |  |  | (808)
Increase (decrease) in intercompany advances |  | 89,689 |  |  | — |  |  | 13,074 |  |  | (102,763) |  |  | —
NET CASH (USED) PROVIDED BY FINANCING ACTIVITIES | $ | 108,221 |  | $ | (60,320) |  | $ | 13,074 |  | $ | (102,763) |  | $ | (41,788)
Net (Decrease) Increase in Cash and Cash Equivalents |  | (27,891) |  |  | (9,872) |  |  | (22,368) |  |  | — |  |  | (60,131)
Cash and Cash Equivalents at Beginning of Year |  | 75,087 |  |  | 36,764 |  |  | 23,732 |  |  | — |  |  | 135,583
Cash and Cash Equivalents at End of Period | $ | 47,196 |  | $ | 26,892 |  | $ | 1,364 |  | $ | — |  | $ | 75,452
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31, 2014 (in thousands)
|  |  |  |  |  |  | Non- |  |  |  |  |  |
| Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
| Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | $ | 107,936 |  | $ | 86,089 |  | $ | 9,412 |  | $ | (95,501) |  | $ | 107,936
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | 4,592 |  |  | 51,109 |  |  | 271 |  |  | — |  |  | 55,972
Equity in earnings of subsidiaries |  | (95,501) |  |  | — |  |  | — |  |  | 95,501 |  |  | —
share-based compensation expense |  | 19,256 |  |  | (641) |  |  | — |  |  | — |  |  | 18,615
Excess income tax benefit from share-based compensation |  | (787) |  |  | — |  |  | — |  |  |  |  |  | (787)
Deferred income taxes |  | 39,186 |  |  | (17,726) |  |  | — |  |  | — |  |  | 21,460
(Gain) loss on sale of investments |  | 1,786 |  |  | — |  |  | — |  |  | — |  |  | 1,786
(Gain) loss on sale of property and equipment |  | 833 |  |  | (32) |  |  | — |  |  | — |  |  | 801
Other long-term liabilities |  | 20,221 |  |  | (17,147) |  |  | — |  |  | — |  |  | 3,074
Other non-cash items |  | (7,029) |  |  | 10,302 |  |  | — |  |  | — |  |  | 3,273
Changes in other components of working capital |  | (26,100) |  |  | (264,203) |  |  | 21,495 |  |  | — |  |  | (268,808)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES | $ | 64,393 |  | $ | (152,249) |  | $ | 31,178 |  | $ | — |  | $ | (56,678)
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition of property and equipment |  | (17,626) |  |  | (57,387) |  |  | — |  |  | — |  |  | (75,013)
Proceeds from sale of property and equipment |  | (784) |  |  | 6,119 |  |  | — |  |  | — |  |  | 5,335
Proceeds from sale of available-for-sale securities |  | 44,497 |  |  | — |  |  | — |  |  | — |  |  | 44,497
Change in restricted cash |  | 15,464 |  |  | 2,766 |  |  | (20,006) |  |  | — |  |  | (1,776)
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES | $ | 41,551 |  | $ | (48,502) |  | $ | (20,006) |  | $ | — |  | $ | (26,957)
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from debt |  | 1,078,932 |  |  | 77,807 |  |  | — |  |  | — |  |  | 1,156,739
Repayment of debt |  | (957,830) |  |  | (68,519) |  |  | — |  |  | — |  |  | (1,026,349)
Business acquisition related payments |  | (26,430) |  |  | — |  |  | — |  |  | — |  |  | (26,430)
Excess income tax benefit from share-based compensation |  | 787 |  |  | — |  |  | — |  |  | — |  |  | 787
Issuance of common stock and effect of cashless exercise |  | (1,772) |  |  | 1 |  |  | — |  |  | — |  |  | (1,771)
Debt issuance costs |  | (3,681) |  |  | — |  |  | — |  |  | — |  |  | (3,681)
Increase (decrease) in intercompany advances |  | (209,858) |  |  | 210,195 |  |  | (337) |  |  | — |  |  | —
NET CASH (USED) PROVIDED BY FINANCING ACTIVITIES | $ | (119,852) |  | $ | 219,484 |  | $ | (337) |  | $ | — |  | $ | 99,295
Net Increase (Decrease) in Cash and Cash Equivalents |  | (13,908) |  |  | 18,733 |  |  | 10,835 |  |  | — |  |  | 15,660
Cash and Cash Equivalents at Beginning of Year |  | 88,995 |  |  | 18,031 |  |  | 12,897 |  |  | — |  |  | 119,923
Cash and Cash Equivalents at End of Period | $ | 75,087 |  | $ | 36,764 |  | $ | 23,732 |  | $ | — |  | $ | 135,583
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS YEAR ENDED DECEMBER 31, 2013 (in thousands)
|  |  |  |  |  |  | Non- |  |  |  |  |  |
| Tutor Perini |  | Guarantor |  | Guarantor |  |  |  |  | Total
| Corporation |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | $ | 87,296 |  | $ | 109,894 |  | $ | 12,981 |  | $ | (122,875) |  | $ | 87,296
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | 10,893 |  |  | 48,246 |  |  | 271 |  |  | — |  |  | 59,410
Equity in earnings of subsidiaries |  | (122,875) |  |  | — |  |  | — |  |  | 122,875 |  |  | —
share-based compensation expense |  | 6,623 |  |  | — |  |  | — |  |  | — |  |  | 6,623
Excess income tax benefit from share-based compensation |  | (1,148) |  |  | — |  |  | — |  |  |  |  |  | (1,148)
Deferred income taxes |  | 921 |  |  | 8,088 |  |  | — |  |  | — |  |  | 9,009
(Gain) loss on sale of property and equipment |  | — |  |  | 49 |  |  | — |  |  | — |  |  | 49
Other long-term liabilities |  | 24,359 |  |  | (1,252) |  |  | — |  |  | — |  |  | 23,107
Other non-cash items |  | (4,341) |  |  | 622 |  |  | — |  |  | — |  |  | (3,719)
Changes in other components of working capital |  | 72,359 |  |  | (184,543) |  |  | (17,715) |  |  | — |  |  | (129,899)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES | $ | 74,087 |  | $ | (18,896) |  | $ | (4,463) |  | $ | — |  | $ | 50,728
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition of property and equipment |  | (21,267) |  |  | (21,093) |  |  | — |  |  | — |  |  | (42,360)
Proceeds from sale of property and equipment |  | 6 |  |  | 2,657 |  |  | — |  |  | — |  |  | 2,663
Change in restricted cash |  | 11,403 |  |  | 441 |  |  | (15,721) |  |  | — |  |  | (3,877)
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES | $ | (9,858) |  | $ | (17,995) |  | $ | (15,721) |  | $ | — |  | $ | (43,574)
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from debt |  | 627,520 |  |  | 25,760 |  |  | — |  |  | — |  |  | 653,280
Repayment of debt |  | (647,795) |  |  | (29,000) |  |  | — |  |  | — |  |  | (676,795)
Business acquisition related payments |  | (31,038) |  |  | — |  |  | — |  |  | — |  |  | (31,038)
Excess income tax benefit from share-based compensation |  | 1,148 |  |  | — |  |  | — |  |  | — |  |  | 1,148
Issuance of common stock and effect of cashless exercise |  | (1,882) |  |  | — |  |  | — |  |  | — |  |  | (1,882)
Increase (decrease) in intercompany advances |  | 12,150 |  |  | (16,223) |  |  | 4,073 |  |  | — |  |  | —
NET CASH (USED) PROVIDED BY FINANCING ACTIVITIES | $ | (39,897) |  | $ | (19,463) |  | $ | 4,073 |  | $ | — |  | $ | (55,287)
Net Increase (Decrease) in Cash and Cash Equivalents |  | 24,332 |  |  | (56,354) |  |  | (16,111) |  |  | — |  |  | (48,133)
Cash and Cash Equivalents at Beginning of Year |  | 64,663 |  |  | 74,385 |  |  | 29,008 |  |  | — |  |  | 168,056
Cash and Cash Equivalents at End of Period | $ | 88,995 |  | $ | 18,031 |  | $ | 12,897 |  | $ | — |  | $ | 119,923

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