TUTOR PERINI CORP
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
TPC$97.43+2.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| Cash Flows from Operating Activities: | |||
| Net loss | $(122,339) | $(127,597) | $(192,572) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation | 51,551 | 42,992 | 49,838 |
| Amortization of intangible assets | 2,236 | 2,237 | 14,526 |
| Share-based compensation expense | 40,356 | 12,259 | 9,065 |
| Change in debt discounts and deferred debt issuance costs | 14,068 | 5,458 | 3,697 |
| Deferred income taxes | (78,008) | (64,820) | (79,449) |
| (Gain) loss on sale of property and equipment | 116 | (5,016) | 145 |
| Changes in other components of working capital | 589,124 | 428,910 | 390,424 |
| Other long-term liabilities | 14,898 | 3,754 | 14,317 |
| Other, net | (8,458) | 10,294 | (3,020) |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 503,544 | 308,471 | 206,971 |
| Cash Flows from Investing Activities: | |||
| Acquisition of property and equipment | (37,409) | (52,953) | (59,780) |
| Proceeds from sale of property and equipment | 4,752 | 10,062 | 8,599 |
| Investments in securities | (35,643) | (48,351) | (23,948) |
| Proceeds from maturities and sales of investments in securities | 27,613 | 12,997 | 9,493 |
| NET CASH USED IN INVESTING ACTIVITIES | (40,687) | (78,245) | (65,636) |
| Cash Flows from Financing Activities: | |||
| Proceeds from debt | 787,135 | 712,324 | 693,757 |
| Repayment of debt | (1,141,765) | (773,999) | (732,101) |
| Cash payments related to share-based compensation | (5,556) | (969) | (1,734) |
| Distributions paid to noncontrolling interests | (23,300) | (46,500) | (47,386) |
| Contributions from noncontrolling interests | 15,230 | 2,000 | 8,688 |
| Debt issuance, extinguishment and modification costs | (25,093) | (2,233) | (124) |
| NET CASH USED IN FINANCING ACTIVITIES | (393,349) | (109,377) | (78,900) |
| Net increase in cash, cash equivalents and restricted cash | 69,508 | 120,849 | 62,435 |
| Cash, cash equivalents and restricted cash at beginning of year | 394,680 | 273,831 | 211,396 |
| Cash, cash equivalents and restricted cash at end of year | $464,188 | $394,680 | $273,831 |
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