Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v2.4.1.9
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash Flows from Operating Activities:    
Net income $ 58,185us-gaap_ProfitLoss $ 58,648us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by (used in) operating activities -    
Depreciation 44,074us-gaap_Depreciation 36,865us-gaap_Depreciation
Amortization of intangible assets 8,706us-gaap_AmortizationOfIntangibleAssets 8,245us-gaap_AmortizationOfIntangibleAssets
Amortization of debt issuance costs 273us-gaap_AmortizationOfFinancingCosts 275us-gaap_AmortizationOfFinancingCosts
Amortization of deferred revenues (2,535)us-gaap_RecognitionOfDeferredRevenue (2,746)us-gaap_RecognitionOfDeferredRevenue
Gain on sale of property and equipment (102)us-gaap_GainLossOnSaleOfPropertyPlantEquipment (305)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Foreign currency (gain) loss 190us-gaap_ForeignCurrencyTransactionGainLossUnrealized (266)us-gaap_ForeignCurrencyTransactionGainLossUnrealized
Provision for doubtful accounts 578us-gaap_ProvisionForDoubtfulAccounts 48us-gaap_ProvisionForDoubtfulAccounts
Non-cash portion of arbitration expense   10,518pwr_NonCashArbitrationExpense
Deferred income tax provision 3,495us-gaap_DeferredIncomeTaxExpenseBenefit 8,086us-gaap_DeferredIncomeTaxExpenseBenefit
Non-cash stock-based compensation 9,960us-gaap_ShareBasedCompensation 10,298us-gaap_ShareBasedCompensation
Tax impact of stock-based equity awards (1)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (123)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Changes in operating assets and liabilities, net of non-cash transactions -    
Accounts and notes receivable 122,432us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable (61,480)us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable
Costs and estimated earnings in excess of billings on uncompleted contracts (63,488)us-gaap_IncreaseDecreaseInUnbilledReceivables (46,946)us-gaap_IncreaseDecreaseInUnbilledReceivables
Inventories (3,122)us-gaap_IncreaseDecreaseInInventories (1,923)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other current assets (3,242)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (368)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accounts payable and accrued expenses and other non-current liabilities 27,850us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities (50,999)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
Billings in excess of costs and estimated earnings on uncompleted contracts (7,018)us-gaap_IncreaseDecreaseInBillingInExcessOfCostOfEarnings (31,632)us-gaap_IncreaseDecreaseInBillingInExcessOfCostOfEarnings
Other, net (7,008)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 3,272us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Net cash provided by (used in) operating activities 189,227us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (60,533)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash Flows from Investing Activities:    
Proceeds from sale of property and equipment 1,282us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 2,493us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Additions of property and equipment (66,168)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (71,418)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Cash paid for acquisitions, net of cash acquired (34,733)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (76,368)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Investments in equity from unconsolidated affiliates (809)us-gaap_PaymentsForProceedsFromOtherInvestingActivities  
Cash received from other investments 214us-gaap_PaymentsForProceedsFromInvestments 259us-gaap_PaymentsForProceedsFromInvestments
Cash withdrawn from restricted cash 322us-gaap_DecreaseInRestrictedCash  
Net cash used in investing activities (99,892)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (145,034)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash Flows from Financing Activities:    
Borrowings under credit facility 147,456us-gaap_ProceedsFromLongTermLinesOfCredit 2,370us-gaap_ProceedsFromLongTermLinesOfCredit
Payments under credit facility (103,943)us-gaap_RepaymentsOfLongTermLinesOfCredit (2,370)us-gaap_RepaymentsOfLongTermLinesOfCredit
Payments on other long-term debt (400)us-gaap_RepaymentsOfOtherLongTermDebt (10,293)us-gaap_RepaymentsOfOtherLongTermDebt
Payments on short-term debt (922)us-gaap_RepaymentsOfShortTermDebt  
Distributions to non-controlling interests (2,503)us-gaap_PaymentsOfDividendsMinorityInterest (500)us-gaap_PaymentsOfDividendsMinorityInterest
Tax impact of stock-based equity awards 1us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 123us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Exercise of stock options 76us-gaap_ProceedsFromStockOptionsExercised 424us-gaap_ProceedsFromStockOptionsExercised
Repurchase of common stock (182,000)us-gaap_PaymentsForRepurchaseOfCommonStock  
Net cash used in financing activities (142,235)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (10,246)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of foreign exchange rate changes on cash and cash equivalents (2,081)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 376us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net decrease in cash and cash equivalents (54,981)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (215,437)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 190,515us-gaap_CashAndCashEquivalentsAtCarryingValue 488,777us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 135,534us-gaap_CashAndCashEquivalentsAtCarryingValue 273,340us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information:    
Interest paid (1,188)us-gaap_InterestPaid (1,268)us-gaap_InterestPaid
Income taxes paid (12,609)us-gaap_IncomeTaxesPaid (87,712)us-gaap_IncomeTaxesPaid
Income tax refunds $ 445us-gaap_ProceedsFromIncomeTaxRefunds $ 238us-gaap_ProceedsFromIncomeTaxRefunds