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Recent Accounting Pronouncements (Tables) | 3 Months Ended
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Mar. 31, 2018
Recent Accounting Pronouncements [Abstract] |
Schedule of the Impact for the Adoption of ASU 2014-09 | The effect of the changes made to the Company’s consolidated January 1, 2018 balance sheet for the adoption of ASC 606 were as follows: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |
﻿ |  |
﻿ |  |  |  | Adjustments |  |  |
﻿BALANCE SHEET | Balance as of |  | due to |  | Balance as of
﻿(in thousands) | December 31, 2017(a) |  | ASC 606 |  | January 1, 2018
﻿ASSETS |  |  |  |  |  |  |  |
﻿Accounts receivable(b) | $ | 1,801,656 |  | $ | (535,939) |  | $ | 1,265,717
﻿Retainage receivable(b) |  | — |  |  | 535,939 |  |  | 535,939
﻿Other current assets |  | 89,316 |  |  | 32,773 |  |  | 122,089
﻿ |  |  |  |  |  |  |  |
﻿LIABILITIES |  |  |  |  |  |  |  |
﻿Accounts payable(b) |  | 961,791 |  |  | (261,820) |  |  | 699,971
﻿Retainage payable(b) |  | — |  |  | 261,820 |  |  | 261,820
﻿Billings in excess of costs and estimated earnings |  | 456,869 |  |  | 39,785 |  |  | 496,654
﻿Deferred income taxes |  | 108,504 |  |  | (1,537) |  |  | 106,967
﻿ |  |  |  |  |  |  |  |
﻿EQUITY |  |  |  |  |  |  |  |
﻿Retained earnings |  | 622,007 |  |  | (3,762) |  |  | 618,245
﻿Noncontrolling interests |  | (8,495) |  |  | (1,714) |  |  | (10,209)
| (a) |  | Balances as previously reported on the Company’s Annual Report on Form 10-K for the year ended December 31, 2017.
| (b) |  | Prior to the adoption of ASC 606, retainage receivable and payable balances were included within accounts receivable and accounts payable, respectively.
﻿ In accordance with the new revenue standard requirements, the disclosure of the impacts of adoption on the Condensed Consolidated Statement of Operations and Condensed Consolidated Balance Sheet were as follows: ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Three Months Ended March 31, 2018
﻿ |  |  |  | Balance Without |  |
﻿STATEMENT OF OPERATIONS |  |  |  | Adoption of |  | Effect of
﻿(in thousands) |  | As Reported |  | ASC 606 |  | Change
﻿REVENUE |  | $ | 1,028,156 |  | $ | 1,030,268 |  | $ | (2,112)
﻿COST OF OPERATIONS |  |  | (961,088) |  |  | (962,855) |  |  | 1,767
﻿GROSS PROFIT |  |  | 67,068 |  |  | 67,413 |  |  | (345)
﻿General and administrative expenses |  |  | (67,993) |  |  | (67,993) |  |  | —
﻿LOSS FROM CONSTRUCTION OPERATIONS |  |  | (925) |  |  | (580) |  |  | (345)
﻿Other income, net |  |  | 780 |  |  | 780 |  |  | —
﻿Interest expense |  |  | (15,065) |  |  | (15,065) |  |  | —
﻿LOSS BEFORE INCOME TAXES |  |  | (15,210) |  |  | (14,865) |  |  | (345)
﻿Income tax benefit |  |  | 4,268 |  |  | 4,156 |  |  | 112
﻿NET LOSS |  |  | (10,942) |  |  | (10,709) |  |  | (233)
﻿LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS |  |  | 1,182 |  |  | 1,142 |  |  | 40
﻿NET LOSS ATTRIBUTABLE TO TUTOR PERINI CORPORATION |  | $ | (12,124) |  | $ | (11,851) |  | $ | (273)
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | As of March 31, 2018
﻿ |  |  |  | Balance Without |  |
﻿BALANCE SHEET |  |  |  | Adoption of |  | Effect of
﻿(in thousands) |  | As Reported |  | ASC 606 |  | Change
﻿ASSETS |  |  |  |  |  |  |  |  |
﻿Accounts receivable |  | $ | 1,236,818 |  | $ | 1,765,769 |  | $ | (528,951)
﻿Retainage receivable |  |  | 530,897 |  |  | — |  |  | 530,897
﻿Costs and estimated earnings in excess of billings |  |  | 980,896 |  |  | 982,302 |  |  | (1,406)
﻿Other current assets |  |  | 132,298 |  |  | 97,758 |  |  | 34,540
﻿ |  |  |  |  |  |  |  |  |
﻿LIABILITIES |  |  |  |  |  |  |  |  |
﻿Accounts payable |  | $ | 659,290 |  | $ | 905,323 |  | $ | (246,033)
﻿Retainage payable |  |  | 246,033 |  |  | — |  |  | 246,033
﻿Billings in excess of costs and estimated earnings |  |  | 508,616 |  |  | 466,179 |  |  | 42,437
﻿Accrued expenses and other current liabilities |  |  | 118,334 |  |  | 118,610 |  |  | (276)
﻿Deferred income taxes |  |  | 106,763 |  |  | 108,135 |  |  | (1,372)
﻿ |  |  |  |  |  |  |  |  |
﻿EQUITY |  |  |  |  |  |  |  |  |
﻿Retained earnings |  | $ | 606,199 |  | $ | 610,234 |  | $ | (4,035)
﻿Noncontrolling interests |  |  | (14,076) |  |  | (12,402) |  |  | (1,674)
﻿

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