TUTOR PERINI CORP
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
TPC$94.70+5.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| As of December 31, | ||
|---|---|---|
| (in thousands, except share and per share amounts) | 2023 | 2022 |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents ($173,118 and $168,408 related to VIEs) | $380,564 | $259,351 |
| Restricted cash | 14,116 | 14,480 |
| Restricted investments | 130,287 | 91,556 |
| Accounts receivable ($84,014 and $54,040 related to VIEs) | 1,054,014 | 1,171,085 |
| Retention receivable ($161,187 and $187,615 related to VIEs) | 580,926 | 585,556 |
| Costs and estimated earnings in excess of billings ($58,089 and $83,911 related to VIEs) | 1,143,846 | 1,377,528 |
| Other current assets ($26,725 and $33,340 related to VIEs) | 217,601 | 179,215 |
| Total current assets | 3,521,354 | 3,678,771 |
| PROPERTY AND EQUIPMENT: | ||
| Land | 44,127 | 44,433 |
| Building and improvements | 132,639 | 124,429 |
| Construction equipment | 613,166 | 590,089 |
| Other equipment | 185,530 | 181,649 |
| 975,462 | 940,600 | |
| Less accumulated depreciation | (534,171) | (505,512) |
| Total property and equipment, net ($35,135 and $22,133 related to VIEs) | 441,291 | 435,088 |
| GOODWILL | 205,143 | 205,143 |
| INTANGIBLE ASSETS, NET | 68,305 | 70,542 |
| DEFERRED INCOME TAXES | 74,083 | 15,910 |
| OTHER ASSETS | 119,680 | 137,346 |
| TOTAL ASSETS | $4,429,856 | $4,542,800 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES: | ||
| Current maturities of long-term debt | $117,431 | $70,285 |
| Accounts payable ($24,160 and $36,484 related to VIEs) | 466,545 | 495,345 |
| Retention payable ($22,841 and $44,859 related to VIEs) | 223,138 | 246,562 |
| Billings in excess of costs and estimated earnings ($439,759 and $480,839 related to VIEs) | 1,103,530 | 975,812 |
| Accrued expenses and other current liabilities ($18,206 and $5,082 related to VIEs) | 214,309 | 179,523 |
| Total current liabilities | 2,124,953 | 1,967,527 |
| LONG-TERM DEBT, less current maturities, net of unamortized discount and debt issuance costs totaling $11,000 and $13,980 | 782,314 | 888,154 |
| DEFERRED INCOME TAXES | 956 | 4,649 |
| OTHER LONG-TERM LIABILITIES | 237,722 | 240,486 |
| TOTAL LIABILITIES | 3,145,945 | 3,100,816 |
| COMMITMENTS AND CONTINGENCIES (Note 8) | ||
| EQUITY | ||
| Stockholders' equity: | ||
| Preferred stock – authorized 1,000,000 shares ($1 par value), none issued | — | — |
| Common stock – authorized 112,500,000 shares ($1 par value), issued and outstanding 52,025,497 and 51,521,336 shares | 52,025 | 51,521 |
| Additional paid-in capital | 1,146,204 | 1,140,933 |
| Retained earnings | 133,146 | 304,301 |
| Accumulated other comprehensive loss | (39,787) | (47,037) |
| Total stockholders' equity | 1,291,588 | 1,449,718 |
| Noncontrolling interests | (7,677) | (7,734) |
| TOTAL EQUITY | 1,283,911 | 1,441,984 |
| TOTAL LIABILITIES AND EQUITY | $4,429,856 | $4,542,800 |
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