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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents ($135,688 and $173,118 related to variable interest entities (“VIEs”)) $ 287,403 $ 380,564
Restricted cash 13,994 14,116
Restricted investments 135,493 130,287
Accounts receivable ($107,158 and $84,014 related to VIEs) 1,310,683 1,054,014
Retention receivable ($166,568 and $161,187 related to VIEs) 549,736 580,926
Costs and estimated earnings in excess of billings ($76,698 and $58,089 related to VIEs) 966,251 1,143,846
Other current assets ($20,421 and $26,725 related to VIEs) 188,220 217,601
Total current assets 3,451,780 3,521,354
PROPERTY AND EQUIPMENT (“P&E”), net of accumulated depreciation of $559,333 and $534,171 (net P&E of $25,476 and $35,135 related to VIEs) 427,053 441,291
GOODWILL 205,143 205,143
INTANGIBLE ASSETS, NET 66,628 68,305
DEFERRED INCOME TAXES 111,367 74,083
OTHER ASSETS 124,530 119,680
TOTAL ASSETS 4,386,501 4,429,856
CURRENT LIABILITIES:    
Current maturities of long-term debt 25,724 117,431
Accounts payable ($35,486 and $24,160 related to VIEs) 651,676 466,545
Retention payable ($18,276 and $22,841 related to VIEs) 226,033 223,138
Billings in excess of costs and estimated earnings ($361,866 and $439,759 related to VIEs) 1,052,007 1,103,530
Accrued expenses and other current liabilities ($16,813 and $18,206 related to VIEs) 276,690 214,309
Total current liabilities 2,232,130 2,124,953
LONG-TERM DEBT, less current maturities, net of unamortized discount and debt issuance costs totaling $30,020 and $11,000 655,706 782,314
OTHER LONG-TERM LIABILITIES 266,976 238,678
TOTAL LIABILITIES 3,154,812 3,145,945
COMMITMENTS AND CONTINGENCIES (NOTE 11)
Stockholders' equity:    
Preferred stock - authorized 1,000,000 shares ($1 par value), none issued 0 0
Common stock - authorized 112,500,000 shares ($1 par value), issued and outstanding 52,434,803 and 52,025,497 shares 52,435 52,025
Additional paid-in capital 1,148,196 1,146,204
Retained earnings 48,856 133,146
Accumulated other comprehensive loss (35,984) (39,787)
Total stockholders' equity 1,213,503 1,291,588
Noncontrolling interests 18,186 (7,677)
TOTAL EQUITY 1,231,689 1,283,911
TOTAL LIABILITIES AND EQUITY $ 4,386,501 $ 4,429,856