TUTOR PERINI CORP
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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) | 2025 | 2024 | 2023 |
| Cash Flows from Operating Activities: | |||
| Net income (loss) | $143,081 | $(122,339) | $(127,597) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation | 47,578 | 51,551 | 42,992 |
| Amortization of intangible assets | 2,237 | 2,236 | 2,237 |
| Share-based compensation expense | 150,002 | 40,356 | 12,259 |
| Change in debt discounts and deferred debt issuance costs | 4,553 | 14,068 | 5,458 |
| Deferred income taxes | 46,861 | (78,008) | (64,820) |
| (Gain) loss on sale of property and equipment | (2,050) | 116 | (5,016) |
| Changes in other components of working capital | 330,633 | 589,124 | 428,910 |
| Other long-term liabilities | 20,658 | 14,898 | 3,754 |
| Other, net | 4,512 | (8,458) | 10,294 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 748,065 | 503,544 | 308,471 |
| Cash Flows from Investing Activities: | |||
| Acquisition of property and equipment | (180,854) | (37,409) | (52,953) |
| Proceeds from sale of property and equipment | 8,875 | 4,752 | 10,062 |
| Investments in securities | (124,806) | (35,643) | (48,351) |
| Proceeds from maturities and sales of investments in securities | 39,476 | 27,613 | 12,997 |
| NET CASH USED IN INVESTING ACTIVITIES | (257,309) | (40,687) | (78,245) |
| Cash Flows from Financing Activities: | |||
| Proceeds from debt | 188,215 | 787,135 | 712,324 |
| Repayment of debt | (318,974) | (1,141,765) | (773,999) |
| Cash payments related to share-based compensation | (6,788) | (5,556) | (969) |
| Payment of dividends | (3,167) | — | — |
| Distributions paid to noncontrolling interests | (51,650) | (23,300) | (46,500) |
| Contributions from noncontrolling interests | 7,614 | 15,230 | 2,000 |
| Debt issuance, extinguishment and modification costs | — | (25,093) | (2,233) |
| NET CASH USED IN FINANCING ACTIVITIES | (184,750) | (393,349) | (109,377) |
| Net increase in cash, cash equivalents and restricted cash | 306,006 | 69,508 | 120,849 |
| Cash, cash equivalents and restricted cash at beginning of year | 464,188 | 394,680 | 273,831 |
| Cash, cash equivalents and restricted cash at end of year | $770,194 | $464,188 | $394,680 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.