Tutor Perini (TPC) 10-Q 2 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 01, 2016
Document and Entity Information
Entity Registrant Name	TUTOR PERINI Corp
Entity Central Index Key	77,543
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		49,169,813
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
REVENUE	$ 1,308,130	$ 1,312,438	$ 2,393,499	$ 2,378,903
COST OF OPERATIONS	(1,198,360)	(1,213,818)	(2,178,637)	(2,189,524)
GROSS PROFIT	109,770	98,620	214,862	189,379
General and administrative expenses	(60,941)	(67,739)	(125,911)	(138,414)
INCOME FROM CONSTRUCTION OPERATIONS	48,829	30,881	88,951	50,965
Other income (expense), net	2,485	379	3,166	(97)
Interest expense	(15,534)	(11,268)	(29,614)	(22,671)
INCOME BEFORE INCOME TAXES	35,780	19,992	62,503	28,197
Provision for income taxes	(14,419)	(8,215)	(25,743)	(11,294)
NET INCOME	$ 21,361	$ 11,777	$ 36,760	$ 16,903
BASIC EARNINGS PER COMMON SHARE (in dollars per share)	$ 0.43	$ 0.24	$ 0.75	$ 0.35
DILUTED EARNINGS PER COMMON SHARE (in dollars per share)	$ 0.43	$ 0.24	$ 0.74	$ 0.34
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
BASIC (in shares)	49,131	49,028	49,105	48,890
DILUTED (in shares)	49,561	49,828	49,423	49,688

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
NET INCOME	$ 21,361	$ 11,777	$ 36,760	$ 16,903
OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX:
Defined benefit pension plan adjustments	324		571
Foreign currency translation adjustment	(258)	(1,146)	672	(1,734)
Unrealized loss in fair value of investments	(153)	(74)	(145)	(84)
Unrealized gain (loss) in fair value of interest rate swap	11	60	(24)	105
Total other comprehensive (loss) income, net of tax	(76)	(1,160)	1,074	(1,713)
TOTAL COMPREHENSIVE INCOME	$ 21,285	$ 10,617	$ 37,834	$ 15,190

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 93,622	$ 75,452
Restricted cash	49,452	45,853
Accounts receivable, including retainage of $512,808 and $484,255	1,739,343	1,473,615
Costs and estimated earnings in excess of billings	811,406	905,175
Deferred income taxes	19,098	26,306
Other current assets	76,960	108,844
Total current assets	2,789,881	2,635,245
PROPERTY AND EQUIPMENT (net of accumulated depreciation of $280,059 and $254,477)	507,395	523,525
OTHER ASSETS:
GOODWILL	585,006	585,006
INTANGIBLE ASSETS, NET	94,768	96,540
OTHER ASSETS	218,535	196,361
TOTAL ASSETS	4,195,585	4,036,677
CURRENT LIABILITIES:
Current maturities of long-term debt	120,256	88,917
Accounts payable, including retainage of $222,175 and $204,767	968,193	937,464
Billings in excess of costs and estimated earnings	325,290	288,311
Accrued expenses and other current liabilities	171,150	159,016
Total current liabilities	1,584,889	1,473,708
LONG-TERM DEBT, less current maturities (net of unamortized discount and debt issuance cost of $63,297 and $6,697)	680,265	728,767
DEFERRED INCOME TAXES	296,728	273,310
OTHER LONG-TERM LIABILITIES	140,870	140,665
Total liabilities	2,702,752	2,616,450
CONTINGENCIES AND COMMITMENTS (NOTE 6)
STOCKHOLDERS' EQUITY:
Preferred stock-- authorized 1,000,000 shares ($1 par value), none issued
Common stock - authorized 75,000,000 shares ($1 par value), issued and outstanding 49,169,813 and 49,072,710 shares	49,170	49,073
Additional paid-in capital	1,070,191	1,035,516
Retained earnings	414,563	377,803
Accumulated other comprehensive loss	(41,091)	(42,165)
TOTAL STOCKHOLERS' EQUITY	1,492,833	1,420,227
TOTAL LIABILITIES AND STOCKHOLERS' EQUITY	$ 4,195,585	$ 4,036,677

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
CONDENSED CONSOLIDATED BALANCE SHEETS [Abstract]
Accounts receivable, retainage	$ 512,808	$ 484,255
Accumulated depreciation	280,059	254,477
Accounts payable, retainage	222,175	204,767
Unamortized discount and debt issuance cost	$ 63,297	$ 6,697
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares issued	0	0
Common stock, shares authorized	75,000,000	75,000,000
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares issued	49,169,813	49,072,710
Common stock, shares outstanding	49,169,813	49,072,710

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flows from Operating Activities:
Net income	$ 36,760	$ 16,903
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	29,956	20,389
Stock-based compensation expense	6,959	13,324
Excess income tax benefit from stock-based compensation		(162)
Change in debt discount and deferred debt issuance costs	3,348	1,045
Deferred income taxes	(371)	(177)
Loss (gain) on sale of property and equipment	204	(313)
Other long-term liabilities	(3,811)	42
Other non-cash items	1,200	(3,259)
Changes in other components of working capital	(69,669)	(79,550)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	4,576	(31,758)
Cash Flows from Investing Activities:
Acquisition of property and equipment excluding financed purchases	(8,681)	(29,544)
Proceeds from sale of property and equipment	1,092	1,122
Change in restricted cash	(3,599)	4,877
NET CASH USED IN INVESTING ACTIVITIES	(11,188)	(23,545)
Cash Flows from Financing Activities:
Proceeds from issuance of convertible notes	200,000
Proceeds from debt	711,092	473,490
Repayment of debt	(871,654)	(446,239)
Excess income tax benefit from stock-based compensation		162
Issuance of common stock and effect of cashless exercise		(776)
Debt issuance costs	(14,656)
NET CASH PROVIDED BY FINANCING ACTIVITIES	24,782	26,637
Net increase (decrease) in cash and cash equivalents	18,170	(28,666)
Cash and cash equivalents at beginning of year	75,452	135,583
Cash and cash equivalents at end of period	$ 93,622	$ 106,917

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Basis of Presentation [Abstract]
Basis of Presentation	(1) Basis of Presentation  The Condensed Consolidated Financial Statements do not include footnotes and certain financial information normally presented annually under accounting principles generally accepted in the United States (“GAAP”); therefore, they should be read in conjunction with the audited consolidated financial statements and the related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The results of operations for the three and six months ended June 30, 2016 may not necessarily be indicative of results that can be expected for the full year.  In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements reflect all adjustments, including those of a normal recurring nature, necessary to present fairly the Company’s consolidated financial position as of June 30, 2016 and its consolidated results of operations and cash flows for the interim periods presented. All significant intercompany transactions of consolidated subsidiaries have been eliminated. Management has evaluated all material events occurring subsequent to the date of the financial statements up to the filing of this Form 10-Q.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2016
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	(2) Recent Accounting Pronouncements  In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments . The amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and s upportable information in credit loss estimates. This guidance is effective for the Company as of January 1, 2020 with early adoption permitted as of January 1, 2019. The Company is currently assessing the impact of this standard on its consolidated financial statements.  In the first quarter of 2016, the Company adopted ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30). This ASU requires companies to present, in the balance sheet, debt issuance costs related to a recognized debt liability as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In addition, the amortization of that debt discount is required to be presented as a component of interest expense. The Company applied this guidance retrospectively, effective January 1, 2016 . A ccordingly, the Company reclassified unamortized debt issuance costs of $5.8 million from Other Assets to Long-Term Debt , less current maturities in its December 31, 2015 Condensed Consolidated Balance Sheet and reclassified amortization of deferred debt issuance costs of $0.3 million and $0.6 million, respectively, from Other income (e xpense ), net to Interest Expense in its Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2015 .  In March 2016, the FASB issued ASU No. 2016-09, Improvement to Employee Share-Based Payment Accounting (Topic 718), which simplifies several aspects of the accounting for employee share-based payments including: accounting for income taxes, forfeitures and statutory tax withholding requirements. This guidance is to be adopted by the Company as of January 1, 2017. The adoption of this ASU is not expected to have a material impact on the Company’s financial statements.  In March 2016, the FASB issued ASU No. 2016-07, Equity Method and Joint Ventures (Topic 323), which eliminates the requirement that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership. Instead, an equity method investor adds the cost of acquiring the additional interest to the current basis of the previously held interest and adopts the equity method of accounting as of the date the investment becomes qualified as such. This guidance is effective for the Company as of January 1, 2017. The Company is currently evaluating the effect that the adoption of this ASU will have on its financial statements.  In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic-842), which amends the existing guidance in ASC 840 Leases . This amendment requires the recognition of lease assets and lease liabilities by lessees for those leases currently classified as operating leases. Other significant provisions of the amendment include (i) defining the “lease term” to include the non-cancellable period together with periods for which there is a significant economic incentive for the lessee to extend or not terminate the lease; (ii) defining the initial lease liability to be recorded on the balance sheet to contemplate only those variable lease payments that depend on an index or that are in substance “fixed”; and (iii) a dual approach for determining whether lease expense is recognized on a straight-line or accelerated basis, depending on whether the lessee is expected to consume more than an insignificant portion of the leased asset’s economic benefits. This ASU is to be adopted by the Company as of January 1, 2019. Lessees and lessors are required to use a modified retrospective transition method for existing leases. Accordingly, they would apply the new accounting model for the earliest year presented in the financial statements. The Company is currently evaluating the effect that the adoption of this ASU will have on its financial statements.  In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes (Subtopic 740-10). This ASU requires entities to present all deferred tax assets and all deferred tax liabilities as noncurrent in a classified balance sheet. This ASU is effective for the Company as of January 1, 2017. The Company had $ 19.1 million of current deferred tax assets and $31.1 million of current deferred tax liabilities as of June 30 2016, which will be presented as noncurrent upon adoption of this ASU.  In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which provides a single comprehensive accounting standard for revenue recognition for contracts with customers and supersedes current industry-specific guidance, including ASC 605-35. The new standard prescribes a five-step revenue recognition model that focuses on transfer of control and entitlement to consideration in determining the amount of revenue to be recognized. The guidance also significantly expands qualitative and quantitative disclosure requirements regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The standard is effective for the Company as of January 1, 2018. The adoption will result in retrospective application, either in the form of recasting all prior periods presented or a cumulative adjustment to equity in the period of adoption. The Company is currently evaluating the effect that the adoption of this ASU will have on its financial statements.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2016
Earnings per Share [Abstract]
Earnings per Share	( 3 ) Earnings P er Share (EPS)  Basic EPS is calculated by dividing net income for a given period by the weighted-average number of common shares outstanding during that period, to which dilutive securities are included in the calculation of diluted EPS, using the treasury stock method. The calculations of the basic and diluted EPS for the three and six months ended June 30 , 2016 and 2015 are presented below:    Three Months Ended June 30, Six Months Ended June 30,  (in thousands, except per share data) 2016 2015 2016 2015  Net income $ 21,361 $ 11,777 $ 36,760 $ 16,903   Weighted-average common shares outstanding - basic 49,131 49,028 49,105 48,890  Effect of diluted stock options and unvested restricted stock 430 800 318 798  Weighted-average common shares outstanding - diluted 49,561 49,828 49,423 49,688   Net income per share:  Basic $ 0.43 $ 0.24 $ 0.75 $ 0.35  Diluted $ 0.43 $ 0.24 $ 0.74 $ 0.34   Anti-dilutive shares not included above 1,704 628 1,704 574  With regard to diluted EPS and the impact of the Convertible Notes (as discussed in Note 5) on the diluted EPS calculation, because the Company has the intent and ability to settle the principal amount of the Convertible Notes in cash, per Accounting Standards Codification (“ASC”) 260 , Earnings Per Share , the settlement of the principal amount has no impact on diluted EPS. ASC 260 also requires any potential conversion premium associated with the Convertible Notes’ conversion option to be considered in the calculation of diluted EPS when the Company's average stock price for the periods presented is higher than the initial conversion price of $30.25 . As this was not the case during the three and six months ended June 30, 2016, the conversion premium also has no impact on diluted EPS for those periods.

Costs And Estimated Earnings In

Costs And Estimated Earnings In Excess Of Billings	6 Months Ended
	Jun. 30, 2016
Costs and estimated earnings in excess of billings [Abstract]
Costs and estimated earnings in excess of billings	( 4 ) Costs and Estimated Earnings in Excess of B illings  Reported c osts and estimated earnings in excess of billings consist of the following:     June 30, December 31,  (in thousands) 2016 2015  Claims $ 427,558 $ 407,164  Unapproved change orders 220,427 270,019  Other unbilled costs and profits 163,421 227,992  Total costs and estimated earnings in excess of billings $ 811,406 $ 905,175  C laims and unapproved change orders are billable upon the final resolution and agreement between the contractual parti es. O ther unbilled c osts and profits are billable in accordance with the billing terms of each of the existing contractual arrangements .

Financial Commitments

Financial Commitments	6 Months Ended
	Jun. 30, 2016
Financial Commitments [Abstract]
Financial Commitments	( 5 ) Financial Commitments  Long-Term Debt  Long-term debt consists of the following:     June 30, December 31,  (in thousands) 2016 2015  Term Loan $ 83,911 $ 222,120  Revolver 148,070 155,815  Senior Notes 297,616 297,118  Convertible Notes 148,606 —  Equipment financing, mortgages and acquisition-related notes 116,179 133,288  Other indebtedness 6,139 9,343  Total debt 800,521 817,684  Less – current maturities (120,256) (88,917)  Long-term debt, net $ 680,265 $ 728,767  The following table reconciles the outstanding debt balance to the re ported debt balances as of June 30 , 2016 and December 31, 2015.     June 30, 2016 December 31, 2015  (in thousands) Outstanding Long-Term Debt Unamortized Discount and Issuance Cost Long-Term Debt, as reported Outstanding Long-Term Debt Unamortized Discount and Issuance Cost Long-Term Debt, as reported  Term Loan $ 87,500 $ (3,589) $ 83,911 $ 223,750 $ (1,630) $ 222,120  Revolver 154,000 (5,930) 148,070 158,000 (2,185) 155,815  Senior Notes 300,000 (2,384) 297,616 300,000 (2,882) 297,118  Convertible Notes 200,000 (51,394) 148,606 — — —  Convertib le Notes  On June 15, 2016 , the Company issued $200 million of 2.875% Convertible Senior Notes (the “Convertible Notes”) due June 15, 2021 . The Company used the proceeds to prepay $125 million of its Term Loan, pay down $69 million of its Revolver and pay $6 million of debt issuance fees.  To account for the Convertible Notes, the Company applied the provisions of ASC 470-20, Debt with Conversion and Other Options . ASC 470-20 requires issuers of certain convertible debt instruments that may be settled in cash upon conversion to separately account for the liability (debt) and equity (conversion option) components of the instrument in a manner that reflects the issuer’s nonconvertible debt borrowing rate. This is done by allocating the proceeds from issuance to the liability component based on the fair value of the debt instrument excluding the conversion feature, with the residual allocated to the equity component and classified in additional paid in capital. The $46.8 million difference between the principal amount of the Convertible Notes ($200.0 million) and the proceeds allocated to the liability component ( $153.2 million) is treated as a discount on the Convertible Notes. This difference is being amortized as non-cash interest expense using the interest method, as discussed further below under Interest Expense . The equity component, however, is not subject to amortization nor subsequent remeasurement.  In addition, ASC 470-20 requires that the debt issuance costs associated with a convertible debt instrument be allocated between the liability and equity components in proportion to the allocation of the debt proceeds between these two components. The debt issuance costs attributable to the liability component of the Convertible Notes ($4.9 million) are also treated as a discount on the Convertible Notes and amortized as non-cash interest expense. The debt issuance costs attributable to the equity component ($1.5 million) were netted with the equity component and will not be amortized.  The following table presents information related to the liability and equity components of the Convertible Notes:     (in thousands) June 30, 2016  Liability component:  Principal $ 200,000  Conversion feature (46,800)  Allocated debt issuance costs (4,934)  Amortization of discount and debt issuance costs (non-cash interest expense) 340  Net carrying amount $ 148,606   Equity component:  Conversion feature $ 46,800  Allocated debt issuance costs (1,507)  Net deferred tax liability (18,787)  Net carrying amount $ 26,506  The Convertible Notes, governed by the terms of an indenture between the Company and Wilmington Trust, National Association, as trustee, are unsecured obligations and do not contain any financial covenants or restrictions on the payments of dividends, the incurrence of indebtedness or the issuance or repurchase of securities by the Company. The Convertible Notes bear interest at a rate of 2.875% per year, payable in cash semiannually in June and December, unless earlier purchased by the Company or converted.  Prior to January 15, 2021, the Convertible Notes will be convertible only under the following circumstances: (1) during the five business day period after any ten consecutive trading day period in which the trading price per $1,000 principal amount of Convertible Notes for such trading day was less than 98% of the product of the last reported sale price of our common stock and the conversion rate on each such trading day; (2) during any calendar quarter commencing after the calendar quarter ending on September 30, 2016, if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; or (3) upon the occurrence of specified corporate events. On or after January 15, 2021 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their notes, in multiples of $1,000 principal amount, at the option of the holder regardless of the foregoing circumstances.  The Convertible Notes will be convertible at an initial conversion rate of 33.0579 shares of the Company’s common stock per $1,000 principal amount of the Convertible Notes, which is equivalent to an initial conversion price of approximately $30.25 . The conversion rate will be subject to adjustment for some events but will not be adjusted for any accrued and unpaid interest. In addition, following certain corporate events that occur prior to the maturity date, the Company is required to increase, in certain circumstances, the conversion rate for a holder who elects to convert its Convertible Notes in connection with such a corporate event including customary conversion rate adjustments in connection with a “make-whole fundamental change” as defined. Upon conversion, and at the Company’s election, the Company may satisfy its conversion obligation by paying or delivering, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock.  Credit Facility  On June 5, 2014, the Company entered into a Sixth Amended and Restated Credit Agreement, (the “Original Facility”; with subsequent amendments discussed herein, the “Credit Facility”) with Bank of America, N.A. as Administrative Agent, Swing Line Lender and L/C Issuer and a syndicate of other lenders. The Credit Facility, provides for a $300 million revolving credit facility (the “Revolver”), a $250 million term loan (the “Term Loan”) and a sublimit for the issuance of letters of credit up to the aggregate amount of $150 million, all maturing on May 1, 2018. Borrowings under both the Revolver and the Term Loan bear interest based either on Bank of America’s prime lending rate or the London Interbank Offered Rate (“LIBOR”), each plus an applicable margin.  During the first half of 2016, the Company entered into two amendments to the Original Facility (the “Amendments”): Waiver and Amendment No. 1, entered into on February 26, 2016 (“Amendment No.1”), and Consent and Amendment No. 2, entered into on June 8, 2016 (“Amendment No. 2”). In Amendment No. 1, the lenders waived the Company’s violation of its consolidated leverage ratio covenant and consolidated fixed charge coverage ratio covenant. These violations were the result of the Company’s financial results for the fiscal year ended December 31, 2015, which included the previously reported $23.9 million non-cash, pre-tax charge related to an adverse ruling on the Brightwater litigation matter in the third quarter of 2015 as well as $45.6 million of pre-tax charges in the third and fourth quarters of 2015 for various Five Star Electric projects. In Amendment No. 2, the lenders consented to the issuance of the Convertible Notes subject to certain conditions, including the prepayment of $125 million on the Term Loan and the paydown of $69 million on the Revolver, and consented to a potential sale transaction of one of the Company’s business units in its Building segment.  In addition to the Amendments’ provisions discussed above, the Amendments also modified other provisions and added new provisions to the Original Facility, and Amendment No. 2 superseded and modified some of the provisions of Amendment No. 1. The following reflects the more significant changes to the Original Facility and the results of the Amendments that are now reflected in the Credit Facility. Unless otherwise noted, the changes below were primarily the result of Amendment No. 1: (1) The Company may utilize LIBOR-based borrowings. (Amendment No. 1 precluded the use of LIBOR-based borrowings until the Company filed its compliance certificate for the fourth quarter of 2016; however, Amendment No. 2 negated this preclusion.) (2) The Company is subject to an increased rate on borrowings, with such rate being 100 basis points higher than the highest rate under the Original Facility if the Company’s consolidated leverage ratio is greater than 3.50 :1.00 but not more than 4.00 :1.00, and an additional 100 basis points higher if the Company’s consolidated leverage ratio is greater than 4.00:1.00. (3) The Company will be subject to increased commitment fees if the Company’s consolidated leverage ratio is greater than 3.50:1.00. (4) The impact of the Brightwater litigation matter is to be excluded from the calculation of the Company’s consolidated leverage ratio and consolidated fixed charge coverage ratio covenants. (5) Interest payments are due on a monthly basis; however, if the Company is in compliance with its consolidated leverage ratio and consolidated fixed charge coverage ratio covenants provided in the Original Facility as of December 31, 2016, the timing of interest payments will revert to the terms of the Original Facility. (6) The accordion feature of the Original Facility, which would have allowed either an increase of $300 million in the Revolver or the establishment of one or more new term loan commitments, is no longer available. (7) The Company’s maximum allowable consolidated leverage ratio was increased to 4.25 :1.00 for the first, second and third quarters of 2016 after which it returns to the Original Facility’s range of 3.25 :1.00 to 3.00 :1.00. ( Amendment No. 1 increased the Company’s maximum allowable consolidated leverage ratio covenant requirements to 4.25:1.00 for the first quarter of 2016 and 4.0:1.0 for the second and third quarters of 2016. Amendment No. 2 increased the maximum allowable consolidated leverage ratio covenant requirements to 4.25:1.00 for the second and third quarters of 2016.) (8) The Company is subject to additional covenants regarding its liquidity, including a cap on the cash balance in the Company’s bank account and a weekly minimum liquidity requirement (based on specified available cash balances and availability under the Revolver). (9) The Company is required to achieve certain quarterly cash collection milestones, which were eased somewhat in Amendment No. 2. (10) The Company is required to make additional quarterly principal payments, which will be applied to the Term Loan balloon payment, with some of the payments based on a percentage of certain forecasted cash collections for the prior quarter. This change will be effective beginning in the fourth quarter of 2016. (11) The lenders’ collateral package was increased by pledging to the lenders (i) the equity interests of each direct domestic subsidiary of the Company and (ii) 65% of the stock of each material first-tier foreign restricted subsidiary of the Company. (12) The Credit Facility will now mature on May 1, 2018, as opposed to maturity date of the Original Facility of June 5, 2019.  As of June 30, 2016 there was $145.8 million available under the Revolver and the Company had utilized the Credit Facility for letters of credit in the amount of $0.2 million . The Company was in compliance with the financial covenants under the Credit Facility for the period ended June 30, 2016.  Interest Expense  Interest expense as reported in the Condensed Consolidated Statements of Operations consists of the following:     Three Months Ended Six Months Ended  June 30, June 30,  (in thousands) 2016 2015 2016 2015  Cash interest expense:  Interest on Credit Facility $ 7,051 $ 3,633 $ 12,389 $ 7,229  Interest on Senior Notes 5,719 5,719 11,438 11,438  Interest on Convertible Notes 240 — 240 —  Other interest 863 1,393 2,199 2,959  Total cash interest expense 13,873 10,745 26,266 21,626   Non-cash interest expense: (a)  Amortization of debt issuance costs on Original Facility and Amendments 1,071 279 2,510 558  Amortization of discount and debt issuance costs on Senior Notes 250 244 498 487  Amortization of discount and debt issuance costs on Convertible Notes 340 — 340 —  Total non-cash interest expense 1,661 523 3,348 1,045   Total cash and non-cash interest expense $ 15,534 $ 11,268 $ 29,614 $ 22,671 (a) Non-cash interest expense in the table above was the result of the amortization of debt discounts and debt issuance costs associated with the Credit Facility, the Senior Notes and the Convertible Notes. As a result, t his amortization produces an effective interest rate for these liabilities that is greater than the contractual rate per their respective debt indenture agreements; accordingly, the effective interest rates for the Credit Facility, Senior Notes and Convertible Notes are 9.66% , 7.99% and 9.37% , respectively.

Contingencies and Commitments

Contingencies and Commitments	6 Months Ended
	Jun. 30, 2016
Contingencies and Commitments [Abstract]
Contingencies and Commitments	(6) Contingencies and Commitments  The Company and certain of its subsidiaries are involved in litigation and are contingently liable for commitments and performance guarantees arising in the ordinary course of business. The Company and certain of its customers have made claims arising from the performance under their contracts. The Company recognizes certain significant claims for recovery of incurred cost when it is probable that the claim will result in additional contract revenue and when the amount of the claim can be reliably estimated. These assessments require judgments concerning matters such as litigation developments and outcomes, the anticipated outcome of negotiations, the number of future claims and the cost of both pending and future claims. In addition, because most contingencies are resolved over long periods of time, assets and liabilities may change in the future due to various factors.  Several matters are in the litigation and dispute resolution process. The following discussion provides a background and current status of the more significant matters.  Long Island Expressway/Cross Island Parkway Matter  The Company reconstructed the Long Island Expressway/Cross Island Parkway Interchange project for the New York State Department of Transportation (the “NYSDOT”). The $130 million project was substantially completed in January 2004 and was accepted by the NYSDOT as finally complete in February 2006. The Company incurred significant added costs in completing its work and suffered extended schedule costs due to numerous design errors, undisclosed utility conflicts, lack of coordination with local agencies and other interferences for which the Company believes the NYSDOT is responsible.  In March 2011, the Company filed its claim and complaint with the New York State Court of Claims and served to the New York State Attorney General’s Office, seeking damages in the amount of $53.8 million. In May 2011, the NYSDOT filed a motion to dismiss the Company’s claim on the grounds that the Company had not provided required documentation for project closeout and filing of a claim. In September 2011, the Company reached agreement on final payment with the Comptroller’s Office on behalf of the NYSDOT which resulted in an amount of $0.5 million payable to the Company and formally closed out the project allowing the Company to re-file its claim. The Company re-filed its claim in the amount of $53.8 million with the NYSDOT in February 2012 and with the Court of Claims in March 2012. In May 2012, the NYSDOT served its answer and counterclaims in the amount of $151 million alleging fraud in the inducement and punitive damages related to disadvantaged business enterprise (“DBE”) requirements for the project. The Court subsequently ruled that NYSDOT’s counterclaims may only be asserted as a defense and offset to the Company’s claims and not as affirmative claims. In November 2014, the Appellate Division First Department affirmed the dismissal of the City’s affirmative defenses and counterclaims based on DBE fraud. The Company does not expect the counterclaims to have any material effect on its consolidated financial statements.  Management has made an estimate of the total anticipated recovery on this project, and such estimate is included in revenue recorded to date. To the extent new facts become known or the final recovery included in the claim settlement varies from the estimate, the impact of the change will be reflected in the consolidated financial statements at that time.  Fontainebleau Matter  Desert Mechanical Inc. (“DMI”) and Fisk Electric Company (“Fisk”), wholly owned subsidiaries of the Company, were subcontractors on the Fontainebleau Project in Las Vegas (“Fontainebleau”), a hotel/casino complex with approximately 3,800 rooms. In June 2009, Fontainebleau filed for bankruptcy protection, under Chapter 11 of the U.S. Bankruptcy Code, in the Southern District of Florida. Fontainebleau is headquartered in Miami, Florida.  DMI and Fisk filed liens in Nevada for approximately $44 million, representing unreimbursed costs to date and lost profits, including anticipated profits. Other unaffiliated subcontractors have also filed liens. In June 2009, DMI filed suit against Turnberry West Construction, Inc., the general contractor, in the 8th Judicial District Court, Clark County, Nevada (the “District Court”), and in May 2010, the court entered an order in favor of DMI for approximately $45 million.  In January 2010, the Bankruptcy Court approved the sale of the property to Icahn Nevada Gaming Acquisition, LLC, and this transaction closed in February 2010. As a result of a July 2010 ruling relating to certain priming liens, there was approximately $125 million set aside from this sale, which is available for distribution to satisfy the creditor claims based on seniority. At that time, the total estimated sustainable lien amount was approximately $350 million. The project lender filed suit against the mechanic’s lien claimants, including DMI and Fisk, alleging that certain mechanic’s liens are invalid and that all mechanic’s liens are subordinate to the lender’s claims against the property. The Nevada Supreme Court ruled in October 2012 in an advisory opinion at the request of the Bankruptcy Court that lien priorities would be determined in favor of the mechanic lien holders under Nevada law.  In October 2013, a settlement was reached by and among the Statutory Lienholders and the other interested parties. The Bankruptcy Court appointed a mediator to facilitate the execution of that settlement agreement. Mediation is ongoing.  Management has made an estimate of the total anticipated recovery on this project, and such estimate is incl uded in revenue recorded to date. To the extent new facts become known or the final recovery included in the claim settlement varies from the estimate, the impact of the change will be reflected in the consolidated financial statements at that time.  Honeywell Street/Queens Boulevard Bridges Matter  In 1999, the Company was awarded a contract for reconstruction of the Honeywell Street/Queens Boulevard Bridges project for the City of New York (the “City”). In June 2003, after substantial completion of the project, the Company initiated an action to recover $8.8 million in claims against the City on behalf of itself and its subcontractors. In March 2010, the City filed counterclaims for $74.6 million and other relief, alleging fraud in connection with the DBE requirements for the project. In May 2010, the Company served the City with its response to the City’s counterclaims and affirmative defenses. In August 2013, the Court granted the Company’s motion to dismiss the City’s affirmative defenses and counterclaims relating to fraud.  The Company does not expect ultimate resolution of this matter to have any material effect on its consolidated financial statements.  Westgate Planet Hollywood Matter  Tutor-Saliba Corporation (“TSC”), a wholly owned subsidiary of the Company, contracted to construct a timeshare development project in Las Vegas which was substantially completed in December 2009. The Company’s claims against the owner, Westgate Planet Hollywood Las Vegas, LLC (“WPH”), relate to unresolved owner change orders and other claims. The Company filed a lien on the project in the amount of $23.2 million, and filed its complaint with the District Court, Clark County, Nevada. Several subcontractors have also recorded liens, some of which have been released by bonds and some of which have been released as a result of subsequent payment. WPH has posted a mechanic’s lien release bond for $22.3 million.  WPH filed a cross-complaint alleging non-conforming and defective work for approximately $51 million, primarily related to alleged defects, misallocated costs, and liquidated damages. WPH revised the amount of their counterclaims to approximately $45 million.  Following multiple post-trial motions, final judgment was entered in this matter on March 20, 2014. TSC was awarded total judgment in the amount of $19.7 million on its breach of contract claim, which includes an award of interest up through the date of judgment, plus attorney’s fees and costs. WPH has paid $0.6 million of that judgment. WPH was awarded total judgment in the amount of $3.1 million on its construction defect claims, which includes interest up through the date of judgment. The awards are not offsetting. WPH and its Sureties have filed a notice of appeal. TSC has filed a notice of appeal on the defect award. In July 2014, the Court ordered WPH to post an additional supersedeas bond on appeal, in the amount of $1.7 million, in addition to the lien release bond of $22.3 million, which increases the security up to $24.0 million. The Nevada Supreme Court has not yet ruled on this matter.  The Company does not expect ultimate resolution of this matter to have any material effect on its consolidated financial statements. Management has made an estimate of the total anticipated recovery on this project and such estimate is included in revenue recorded to date. To the extent new facts become known or the final recovery included in the claim settlement varies from the estimate, the impact of the change will be reflected in the consolidated financial statements at that time.  U.S. Department of Commerce, National Oceanic and Atmospheric Administration Matter  Rudolph and Sletten, Inc. (“R&S”), a wholly owned subsidiary of the Company, entered into a contract with the United States Department of Commerce, National Oceanic and Atmospheric Administration (“NOAA”) for the construction of a 287,000 square-foot facility for NOAA’s Southwest Fisheries Science Center Replacement Headquarters and Laboratory in La Jolla, California. The contract work began on May 24, 2010, and was substantially completed in September 2012. R&S incurred significant additional costs as a result of a design that contained errors and omissions, NOAA’s unwillingness to correct design flaws in a timely fashion and a refusal to negotiate the time and pricing associated with change order work.  R&S has filed three certified claims against NOAA for contract adjustments related to the unresolved Owner change orders, delays, design deficiencies and other claims. The First Certified Claim was submitted on August 20, 2013, in the amount of $26.8 million ("First Certified Claim") and the Second Certified Claim was submitted on October 30, 2013, in the amount of $2.6 million ("Second Certified Claim") and the Third Certified Claim was submitted on October 1, 2014 in the amount of $0.7 million (“Third Certified Claim”).  NOAA requested an extension to issue a decision on the First Certified Claim and on the Third Certified Claim, but did not request an extension of time to review the Second Certified Claim. On January 6, 2014, R&S filed suit in the United States Federal Court of Claims on the Second Certified Claim plus interest and attorney's fees and costs. This was followed by a submission of a lawsuit on the First Certified Claim on July 31, 2014. In February 2015, the Court denied NOAA’s motion to dismiss the Second Certified Claim. In March 2015, the Contracting Officer issued decisions on all Claims accepting a total of approximately $1.0 million of claims and denying approximately $29.5 million of claims. On April 14, 2015, the Court consolidated the cases . No trial date has been set.  Management has made an estimate of the total anticipated recovery on this project, and such estimate is included in revenue recorded to date. To the extent new facts become known or the final recovery included in the claim settlement varies from the estimate, the impact of the change will be reflected in the consolidated financial statements at that time.  Five Star Electric Matter  In the third quarter of 2015, Five Star Electric Corp. ("Five Star"), a subsidiary of the Company that was acquired in 2011, entered into a tolling agreement related to an ongoing investigation being conducted by the United States Attorney for the Eastern District of New York (“USAO EDNY”). The tolling agreement extended the statute of limitations to avoid the expiration of any unexpired statute of limitations while the investigation is pending. Five Star has been cooperating with the USAO EDNY since late June 2014, when it was first made aware of the investigation, and has been providing information related to its use of certain minority-owned, women-owned, small and disadvantaged business enterprises and, in addition, most recently, information regarding certain of Five Star’s employee compensation, benefit and tax practices. The investigation covers the period of 2005-2014.  The Company cannot predict the ultimate outcome of the investigation and cannot accurately estimate any potential liability that Five Star or the Company may incur or the impact of the results of the investigation on Five Star or the Company.  Alaskan Way Viaduct Matter  In January 2011, Seattle Tunnel Partners (“STP”), a joint venture between Dragados USA, Inc. and the Company, entered into a design-build contract with the Washington State Department of Transportation ("WSDOT") for the construction of a large diameter bored tunnel in downtown Seattle, King County, Washington to replace the Alaskan Way Viaduct, also known as State Route 99.  The construction of the large diameter bored tunnel requires the use of a tunnel boring machine (“TBM”). In December 2013, the TBM struck a steel pipe, installed by WSDOT as a well casing for an exploratory well. The TBM was damaged and was required to be shut down for repair. STP has asserted that the steel pipe casing was a differing site condition that WSDOT failed to properly disclose. The Disputes Review Board mandated by the contract to hear disputes issued a decision finding the steel casing was a Type I differing site condition. WSDOT has not accepted that finding.  The TBM is insured under a Builder’s Risk Insurance Policy (“the Policy”) with Great Lakes Reinsurance (UK) PLC and a consortium of other insurers (the “Insurers”). STP submitted the claims to the insurer and requested interim payments under the Policy. The Insurers refused to pay and denied coverage. In June 2015, STP filed a lawsuit in the King County Superior Court, State of Washington (“Washington Superior Court”) seeking declaratory relief concerning contract interpretation as well as damages as a result of the Insurers’ breach of its obligations under the terms of the Policy. WSDOT is deemed a plaintiff since WSDOT is an insured under the Policy and had filed its own claim for damages. Trial is scheduled for June 2017. In April 2016, the Insurers filed a motion with the Court of Appeals seeking dismissal of STP’s claims. The commissioner’s ruling is pending before the Court of Appeals.  In October 2015, WSDOT filed a complaint against STP in the Washington Superior Court for breach of contract and declaratory relief concerning contract interpretation. Said Complaint was dismissed. In March 2016, WSDOT refiled action against STP in Thurston County Superior Court. In July 2016, STP filed its answer to WSDOT’s complaint and filed a counterclaim against WSDOT and against the manufacturer of the TBM.  As of June 2016, the Company has concluded that the potential for a material adverse financial impact due to the Insurer’s and WSDOT’s respective legal actions are neither probable nor remote. Management has made an estimate of the total anticipated recovery on this project and such estimate is included in revenue recorded to date. To the extent new facts become known or the final recovery included in the claim settlement varies from the estimate, the impact of the change will be reflected in the financial statements at that time.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2016
Share-Based Compensation [Abstract]
Share-Based Compensation	( 7 ) Share-Based Compensation  The Company’s share- based compensation plan is described, and informational disclosures are provided, in the Notes to Consolidated Financial Statements included in the Form 10-K for the year ended December 31, 2015. In the first half of 2016 and 2015, 483,387 and 321,500 restricted stock units were granted at weighted-average per share prices of $19.14 and $23. 07 , respectively. During the first half of 2016 and 2015, the Company awarded 274,000 and 259,000 stock options at weighted-average exercise prices of $16.20 and $16. 07 per share, respectively. The options expire t en years after the grant date. Both the restricted stock units and options granted in 2016 and 2015 vest upon the achievement of defined performance targets. 

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2016
Other Comprehensive Income (Loss) [Abstract]
Other Comprehensive Income (Loss)	( 8 ) Other Comprehensive Income (Loss)  The tax effects of the components of other comprehensive income (loss) for the three months ended June 30, 2016 and 2015 are as follows:     Three Months Ended Three Months Ended  June 30, 2016 June 30, 2015  (in thousands) Before-Tax Amount Tax (Expense) Benefit Net-of-Tax Amount Before-Tax Amount Tax (Expense) Benefit Net-of-Tax Amount  Other comprehensive income (loss):  Defined benefit pension plan adjustments $ 427 $ (103) $ 324 $ - $ - $ -  Foreign currency translation adjustment (396) 138 (258) (1,877) 731 (1,146)  Unrealized gain (loss) in fair value of investments (271) 118 (153) (122) 48 (74)  Unrealized gain (loss) in fair value of interest rate swap 17 (6) 11 99 (39) 60  Total other comprehensive income (loss) $ (223) $ 147 $ (76) $ (1,900) $ 740 $ (1,160)  The tax effects of the components of other comprehensive income (loss) for the six months ended June 30, 2016 and 2015 are as follows:     Six Months Ended Six Months Ended  June 30, 2016 June 30, 2015  (in thousands) Before-Tax Amount Tax (Expense) Benefit Net-of-Tax Amount Before-Tax Amount Tax (Expense) Benefit Net-of-Tax Amount  Other comprehensive income (loss):  Defined benefit pension plan adjustments $ 853 $ (282) $ 571 $ - $ - $ -  Foreign currency translation adjustment 1,208 (536) 672 (2,841) 1,107 (1,734)  Unrealized gain (loss) in fair value of investments (258) 113 (145) (138) 54 (84)  Unrealized gain (loss) in fair value of interest rate swap (45) 21 (24) 173 (68) 105  Total other comprehensive income (loss) $ 1,758 $ (684) $ 1,074 $ (2,806) $ 1,093 $ (1,713)  The following tables present t he changes in accumulated other comprehensive income (“AOCI”) balances by component (after tax) for the three and six months ended June 30, 2016:     For the Three Months Ended June 30, 2016  (in thousands) Defined Benefit Pension Plan Foreign Currency Translation Unrealized Gain in Fair Value of Investments, net Unrealized Gain (Loss) in Fair Value of Interest Rate Swap, net Accumulated Other Comprehensive Income (Loss), Net  Balance as of March 31, 2016 $ (37,995) $ (3,673) $ 664 $ (11) $ (41,015)  Other comprehensive income (loss) before reclassifications — (258) (153) 11 (400)  Amounts reclassified from AOCI 324 — — — 324  Total other comprehensive income (loss) 324 (258) (153) 11 (76)  Balance as of June 30,2016 $ (37,671) $ (3,931) $ 511 $ — $ (41,091)      For the Six Months Ended June 30, 2016  (in thousands) Defined Benefit Pension Plan Foreign Currency Translation Unrealized Gain in Fair Value of Investments, net Unrealized Gain (Loss) in Fair Value of Interest Rate Swap, net Accumulated Other Comprehensive Income (Loss), Net  Balance as of December 31, 2015 $ (38,242) $ (4,603) $ 656 $ 24 $ (42,165)  Other comprehensive income (loss) before reclassifications — 672 (145) (24) 503  Amounts reclassified from AOCI 571 — — — 571  Total other comprehensive income (loss) 571 672 (145) (24) 1,074  Balance as of June 30, 2016 $ (37,671) $ (3,931) $ 511 $ — $ (41,091)  The following tables present the changes in AOCI balances by component (after tax) for the three and six months ended June 30, 2015:     For the Three Months Ended June 30, 2015  (in thousands) Defined Benefit Pension Plan Foreign Currency Translation Unrealized Loss in Fair Value of Investments, net Unrealized Gain in Fair Value of Interest Rate Swap, net Accumulated Other Comprehensive Income (Loss), Net  Balance as of March 31, 2015 $ (40,268) $ (1,977) $ (120) $ 194 $ (42,171)  Other comprehensive income (loss) — (1,146) (74) 60 (1,160)  Balance as of June 30, 2015 $ (40,268) $ (3,123) $ (194) $ 254 $ (43,331)      For the Six Months Ended June 30, 2015  (in thousands) Defined Benefit Pension Plan Foreign Currency Translation Unrealized Loss in Fair Value of Investments, net Unrealized Gain in Fair Value of Interest Rate Swap, net Accumulated Other Comprehensive Income (Loss), Net  Balance as of December 31, 2014 $ (40,268) $ (1,389) $ (110) $ 149 $ (41,618)  Other comprehensive income (loss) — (1,734) (84) 105 (1,713)  Balance as of June 30, 2015 (40,268) (3,123) (194) 254 (43,331)  The items reclassified out of AOCI and the corresponding location and impact on the Condensed Consolidated Statement of Operations are as follows:      Location in Three Months Ended Six Months Ended  Condensed Consolidated June 30, June 30,  (in thousands) Statements of Earnings 2016 2015 2016 2015  Defined benefit pension plan adjustments Various accounts (a) $ 427 $ — $ 853 $ —  Income tax benefit Provision for income taxes (103) — (282) —  Net of tax $ 324 $ — $ 571 $ —  (a) Defined benefit pension plan adjustments were reclassified primarily to cost of operations and general and administrative expenses.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Taxes [Abstract]
Income Taxes	( 9 ) Income Taxes  The Company’s income tax provision was $14.4 million and $25.7 million for the three and six months ended June 30, 2016 , with an effective tax rate of 40.3% and 41.2% , respectively, compared to an income tax provision of $8.2 million and $11.3 million with an effective tax rate of 41.1 % and 40.1% for the same period s in 2015. The effective tax rate for the second quarter of 2016 was favorably impacted by various accrual and interest adjustments relating to uncertain tax benefits.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	( 10 ) Fair Value Measurements  The fair value hierarchy established by ASC 820, Fair Value Measurements , prioritizes the use of inputs used in valuation techniques into the following three levels:  Level 1 — quoted prices in active markets for identical assets or liabilities Level 2 — inputs are other than Level 1 inputs that are observable, either directly or indirectly Level 3 — unobserv able inputs  The following is a summary of financial statement items carried at estimated fair values measured on a recurring basis as of the dates presented:     June 30, 2016 December 31, 2015  Fair Value Hierarchy Fair Value Hierarchy  (in thousands) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3  Assets:  Cash and cash equivalents (a) $ 93,622 $ 93,622 $ — $ — $ 75,452 $ 75,452 $ — $ —  Restricted cash (a) 49,452 49,452 — — 45,853 45,853 — —  Investments in lieu of retainage (b) 47,204 41,080 6,124 — 41,566 35,350 6,216 —  Total $ 190,278 $ 184,154 $ 6,124 $ — $ 162,871 $ 156,655 $ 6,216 $ —   Liabilities:  Interest rate swap contract (c) $ — $ — $ — $ — $ 45 $ — $ 45 $ —  Total $ — $ — $ — $ — $ 45 $ — $ 45 $ — (a) Cash, cash equivalents and restricted cash consist primarily of money market funds with original maturity dates of three months or less, for which fair value is determined through quoted market prices. (b) Investments in lieu of retainage are classified as account s r eceivable and are comprised primarily of mo ney market funds, U.S. Treasury Notes and other municipal bonds , the majority of which are rated Aa3 or better. The fair values of the U.S. Treasury Notes and municipal bonds are obtained from readily-available pricing sources for comparable instruments and, as such, the Company has classified these assets as Level 2 . (c) The Company values the interest rate swap liability utilizing a discounted cash flow model that takes into consideration forward interest rates observable in the market and the counterparty’s risk. The Company's only interes t rate swap contract expired in June 2016.  The Company did not have transfers between Levels 1 and 2 for either financial assets or liabilities, during the three and six months ended June 30, 2016 or 2015.  The carrying amount of cash and cash equivalents approximates fair value due to the short-term nature of these items. The carrying value of receivables, payables and other amounts arising out of normal contract activities, including retainage, which may be settled beyond one year, is estimated to approximate fair value. Of the Company’s long-term debt, the fair value of the Senior Notes was $303.4 million and $305.6 million as of June 30, 2016 and December 31, 2015 , respectively, and the fair value of the Convertible Notes was $ 208.9 million as of June 30, 2016; the fair values were determined using Level 1 inputs, specifically current observable market prices. The reported value of the Company’s remaining long-term debt at June 30, 2016 and December 31, 2015 approximates fair value.  The fair value of the liability component of the Convertible Notes as of the issuance date of June 15, 2016 wa s $153.2 million , which was determined using a Binomial Lattice approach based on Level 2 inputs, specifically quoted prices in active markets for similar debt instrument s that do not have a conversion feature. See Note 5 for additional information related to the Company’s Convertible Notes.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2016
Business Segments [Abstract]
Business Segments	(11) Business Segments  The Company offers general contracting, pre-construction planning and comprehensive project management services, including planning and scheduling of the manpower, equipment, materials and subcontractors required for the timely completion of a project in accordance with the terms and specifications contained in a construction contract. The Company also offers self-performed construction services: site work, concrete forming and placement, steel erection, electrical, mechanical, plumbing and HVAC. As described further below, our business is conducted through three segments: Civil, Building and Specialty Contractors. These segments are determined based on how the Company’s Chairman and Chief Executive Officer (chief operating decision maker) aggregates business units when evaluating performance and allocating resources.  The Civil segment specializes in public works construction and the replacement and reconstruction of infrastructure. The civil contracting services include construction and rehabilitation of highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.  The Building segment has significant experience providing services to a number of specialized building markets for private and public works customers, including the high-rise residential, hospitality and gaming, transportation, health care, commercial and government offices, sports and entertainment, education, correctional facilities, biotech, pharmaceutical, industrial and high-tech markets.  The Specialty Contractors segment specializes in electrical, mechanical, plumbing, HVAC, fire protection systems and pneumatically placed concrete for a full range of civil and building construction projects in the industrial, commercial, hospitality and gaming, and mass-transit end markets. This segment provides the Company with unique strengths and capabilities that allow the Company to position itself as a full-service contractor with greater control over scheduled work, project delivery and risk management.  The following table sets forth certain reportable segment information relating to the Company’s operations for the three and six months ended June 30, 2016 and 2015:    Reportable Segments  Specialty Consolidated  (in thousands) Civil Building Contractors Total Corporate Total  Three Months Ended June 30, 2016  Total revenue $ 504,930 $ 546,157 $ 318,902 $ 1,369,989 $ — $ 1,369,989  Elimination of intersegment revenue (39,223) (22,636) — (61,859) — (61,859)  Revenue from external customers $ 465,707 $ 523,521 $ 318,902 $ 1,308,130 $ — $ 1,308,130  Income from construction operations $ 45,056 $ 13,223 $ 5,413 $ 63,692 $ (14,863) (a) $ 48,829   Three Months Ended June 30, 2015  Total revenue $ 573,360 $ 472,247 $ 326,798 $ 1,372,405 $ — $ 1,372,405  Elimination of intersegment revenue (39,180) (20,843) 56 (59,967) — (59,967)  Revenue from external customers $ 534,180 $ 451,404 $ 326,854 $ 1,312,438 $ — $ 1,312,438  Income from construction operations $ 46,329 $ (12,592) $ 13,743 $ 47,480 $ (16,599) (a) $ 30,881   Reportable Segments  Specialty Consolidated  (in thousands) Civil Building Contractors Total Corporate Total  Six Months Ended June 30, 2016  Total revenue $ 872,431 $ 1,034,151 $ 600,675 $ 2,507,257 $ — $ 2,507,257  Elimination of intersegment revenue (70,866) (42,892) — (113,758) — (113,758)  Revenue from external customers $ 801,565 $ 991,259 $ 600,675 $ 2,393,499 $ — $ 2,393,499  Income from construction operations $ 78,721 $ 25,673 $ 14,826 $ 119,220 $ (30,269) (a) $ 88,951   Six Months Ended June 30, 2015  Total revenue $ 966,236 $ 888,309 $ 619,816 $ 2,474,361 $ — $ 2,474,361  Elimination of intersegment revenue (57,382) (38,076) — (95,458) — (95,458)  Revenue from external customers $ 908,854 $ 850,233 $ 619,816 $ 2,378,903 $ — $ 2,378,903  Income from construction operations $ 76,923 $ (14,870) $ 24,267 $ 86,320 $ (35,355) (a) $ 50,965 (a) Consists primarily of corporate general and administrative expenses.  During the three months ended June 30, 2016, there were no material adjustments recorded. During the first quarter of 2016, the Company recorded net favorable adjustments totaling $3.0 million in income from construction operations ( $0.04 per diluted share) for various Five Star Electric projects in New York in the Specialty Contractors segment. These included the following offsetting adjustments: a favorable adjustment of $ 14.0 million for a completed project ($ 0.17 per diluted share) and an unfavorable adjustment of $13.8 million for a project that is substantially complete ( $0.17 per diluted share).  During the three and six months ended June 30, 2015, the Company recorded un favorable adjustments totaling $14.7 million ( $0.17 per diluted share) and $17.7 million ( $0.21 per diluted share), respectively, related to changes in the estimated cost to complete a certain Building segment project.  Income from construction operations for the three and six months ended June 30, 2016 includes depreciation and amortization of $12.4 million and $ 20.5 million for the Civil segment, $0.5 million and $ 1.1 million for the Building segment, $1.3 million and $ 2.6 million for the Specialty Contractors segment and $2.9 million and $ 5.8 million for Corporate, respectively. Income from construction operations for the three and six months ended June 30, 2015 includes depreciation and amortization of $5.6 million and $ 11.1 million for the Civil segment, $0.8 million and $ 1.5 million for the Building segment, $1.4 million and $ 2.7 million for the Specialty Contractors segment and $2.6 million and $ 5.1 million for Corporate , respectively .  A reconciliation of segment results to the consolidated income before income taxes is as follows:     Three Months Ended June 30, Six Months Ended June 30,  (in thousands) 2016 2015 2016 2015  Income from construction operations $ 48,829 $ 30,881 $ 88,951 $ 50,965  Other income (expense), net 2,485 379 3,166 (97)  Interest expense (15,534) (11,268) (29,614) (22,671)  Income before income taxes $ 35,780 $ 19,992 $ 62,503 $ 28,197  Total assets by segment are as follows:      (in thousands) June 30, 2016 December 31, 2015  Civil $ 2,044,060 $ 1,964,038  Building 882,465 795,851  Specialty Contractors 803,073 860,285  Corporate and other (a) 465,987 416,503  Total Assets $ 4,195,585 $ 4,036,677 (a) Consists principally of cash and cash equivalents as well as corporate transportation and other equipment.

Employee Pension Plans

Employee Pension Plans	6 Months Ended
	Jun. 30, 2016
Employee Pension Plans [Abstract]
Employee Pension Plans	(1 2 ) Employee Pension Plans  The Company has a defined benefit pension plan and an unfunded supplemental retirement plan. Effective September 1, 2004, all benefit accruals under the se plan s were frozen; however, the current vested benefit was preserved. The pension disclosure presented below includes aggregated amounts for both of the Company’s plans.  The following table sets forth the net periodic benefit cost for the three and six months ended June 30, 2016 and 2015 :     Three Months Ended June 30, Six Months Ended June 30,  (in thousands) 2016 2015 2016 2015  Interest cost $ 1,053 $ 1,011 $ 2,106 $ 2,022  Expected return on plan assets (1,203) (1,256) (2,406) (2,512)  Amortization of net loss 427 1,460 854 2,920  Other 150 — 300 —  Net periodic benefit cost $ 427 $ 1,215 $ 854 $ 2,430  The Company contributed $0.8 million and $ 1.4 million to its defined benefit pension plan during the six months ended June 30, 2016 and 2015 , respectively. The Company expects to contribute an additional $1.0 million to its defined benefit pension plan during the remainder of fiscal year 2016 .

Separate Financial Information

Separate Financial Information of Subsidiary Guarantors of Indebtedness	6 Months Ended
	Jun. 30, 2016
Separate Financial Information of Subsidiary Guarantors of Indebtedness [Abstract]
Separate Financial Information of Subsidiary Guarantors of Indebtedness	(13 ) Separate Financial Information of Subsidiary Guarantors of Indebtedness  The Company’s obligation s on its Senior Notes are guaranteed by substantially all of the Company’s existing and future subsidiaries that guarantee obligations under the Credit Facility (the “Guarantors”). The guarantees are full and unconditional as well as joint and several. The Guarantors are wh olly owned subsidiaries of the Company.  The following supplemental condensed consolidating financial information reflects the summarized financial information of the Company as the issuer of the senior unsecured notes, the Guarantors and the Company’s non-guarantor subsidiaries on a combined basis.  TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2016  UNAUDITED      Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Revenue $ 248,134 $ 1,134,967 $ 469 $ (75,440) $ 1,308,130  Cost of operations (214,264) (1,059,536) — 75,440 (1,198,360)  Gross profit 33,870 75,431 469 — 109,770  General and administrative expenses (18,040) (42,438) (463) — (60,941)  Income from construction operations 15,830 32,993 6 — 48,829  Equity in earnings of subsidiaries 20,343 — — (20,343) —  Other income (expense), net 1,568 1,127 253 (463) 2,485  Interest expense (15,396) (601) — 463 (15,534)  Income (Loss) before income taxes 22,345 33,519 259 (20,343) 35,780  Provision for income taxes (984) (13,410) (25) — (14,419)  Net income (loss) $ 21,361 $ 20,109 $ 234 $ (20,343) $ 21,361   Other comprehensive income (loss), net of tax:  Other comprehensive income of subsidiaries (411) — — 411 —  Defined benefit pension plan adjustments 324 — — — 324  Foreign currency translation adjustment — (258) — — (258)  Unrealized gain in fair value of investments — (153) — — (153)  Unrealized loss in fair value of interest rate swap 11 — — — 11  Total other comprehensive (loss) income, net of tax (76) (411) — 411 (76)   Total Comprehensive Income (Loss) $ 21,285 $ 19,698 $ 234 $ (19,932) $ 21,285 TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2015  UNAUDITED        Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Revenue $ 309,217 $ 1,065,766 $ 2,793 $ (65,338) $ 1,312,438  Cost of operations (265,129) (1,014,027) — 65,338 (1,213,818)  Gross profit 44,088 51,739 2,793 — 98,620  General and administrative expenses (25,289) (41,985) (465) — (67,739)  Income from construction operations 18,799 9,754 2,328 — 30,881  Equity in earnings of subsidiaries 6,586 — — (6,586) —  Other income (expense), net (187) 431 135 — 379  Interest expense (10,413) (855) — — (11,268)  Income (Loss) before income taxes 14,785 9,330 2,463 (6,586) 19,992  Provision for income taxes (3,008) (4,121) (1,086) — (8,215)  Net income (loss) $ 11,777 $ 5,209 $ 1,377 $ (6,586) $ 11,777   Other comprehensive income (loss), net of tax:  Other comprehensive income of subsidiaries (1,220) — — 1,220 —  Defined benefit pension plan adjustments — — — — —  Foreign currency translation adjustment — (1,146) — — (1,146)  Unrealized loss in fair value of investments — (74) — — (74)  Unrealized gain in fair value of interest rate swap 60 — — — 60  Total other comprehensive (loss) income, net of tax (1,160) (1,220) — 1,220 (1,160)   Total Comprehensive Income (Loss) $ 10,617 $ 3,989 $ 1,377 $ (5,366) $ 10,617   TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2016  UNAUDITED     Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Revenue $ 424,859 $ 2,121,328 $ 7,573 $ (160,261) $ 2,393,499  Cost of operations (368,553) (1,970,345) — 160,261 (2,178,637)  Gross profit 56,306 150,983 7,573 — 214,862  General and administrative expenses (39,698) (85,275) (938) — (125,911)  Income from construction operations 16,608 65,708 6,635 — 88,951  Equity in earnings of subsidiaries 43,422 — — (43,422) —  Other income (expense), net 946 2,187 496 (463) 3,166  Interest expense (28,880) (1,197) — 463 (29,614)  Income (Loss) before income taxes 32,096 66,698 7,131 (43,422) 62,503  Benefit (Provision) for income taxes 4,664 (27,470) (2,937) — (25,743)  Net income (loss) $ 36,760 $ 39,228 $ 4,194 $ (43,422) $ 36,760   Other comprehensive income (loss), net of tax:  Other comprehensive income of subsidiaries 527 — — (527) —  Defined benefit pension plan adjustments 571 — — — 571  Foreign currency translation adjustment — 672 — — 672  Unrealized gain in fair value of investments — (145) — — (145)  Unrealized loss in fair value of interest rate swap (24) — — — (24)  Total other comprehensive (loss) income, net of tax $ 1,074 $ 527 $ — $ (527) $ 1,074   Total Comprehensive Income (Loss) $ 37,834 $ 39,755 $ 4,194 $ (43,949) $ 37,834  TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2015  UNAUDITED       Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Revenue $ 545,509 $ 1,950,869 $ 7,084 $ (124,559) $ 2,378,903  Cost of operations (474,962) (1,839,121) — 124,559 (2,189,524)  Gross profit 70,547 111,748 7,084 — 189,379  General and administrative expenses (50,324) (87,151) (939) — (138,414)  Income from construction operations 20,223 24,597 6,145 — 50,965  Equity in earnings of subsidiaries 18,526 — — (18,526) —  Other income (expense), net (1,977) 1,627 253 — (97)  Interest expense (20,955) (1,716) — — (22,671)  Income (Loss) before income taxes 15,817 24,508 6,398 (18,526) 28,197  Benefit (Provision) for income taxes 1,086 (9,817) (2,563) — (11,294)  Net income (loss) $ 16,903 $ 14,691 $ 3,835 $ (18,526) $ 16,903   Other comprehensive income (loss), net of tax:  Other comprehensive income of subsidiaries (1,818) — — 1,818 —  Defined benefit pension plan adjustments —  Foreign currency translation adjustment — (1,734) — — (1,734)  Unrealized loss in fair value of investments — (84) — — (84)  Unrealized gain in fair value of interest rate swap 105 — — — 105  Total other comprehensive (loss) income, net of tax (1,713) (1,818) — 1,818 (1,713)   Total Comprehensive Income (Loss) $ 15,190 $ 12,873 $ 3,835 $ (16,708) $ 15,190  TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2016  UNAUDITED     Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Assets  Current assets:  Cash and cash equivalents $ 56,744 $ 36,628 $ 250 $ — $ 93,622  Restricted cash 3,261 2,958 43,233 — 49,452  Accounts receivable 456,016 1,377,164 89,282 (183,119) 1,739,343  Costs and estimated earnings in excess of billings 97,028 774,448 152 (60,222) 811,406  Deferred income taxes 8,898 10,200 — — 19,098  Other current assets 49,217 37,705 9,023 (18,985) 76,960  Total current assets 671,164 2,239,103 141,940 (262,326) 2,789,881  Property and equipment 94,170 409,290 3,935 — 507,395  Intercompany notes and receivables — 223,736 — (223,736) —  Goodwill — 585,006 — — 585,006  Intangible assets, net — 94,768 — — 94,768  Investment in subsidiaries 2,142,018 — — (2,142,018) —  Other Assets 112,252 86,405 25,735 (5,857) 218,535  Total assets $ 3,019,604 $ 3,638,308 $ 171,610 $ (2,633,937) $ 4,195,585   Liabilities and stockholders' equity  Current liabilities:  Current maturities of long-term debt $ 153,959 $ 26,297 $ — $ (60,000) $ 120,256  Accounts payable 233,052 923,075 5,351 (193,285) 968,193  Billings in excess of costs and estimated earnings 114,649 201,483 2,524 6,634 325,290  Accrued expenses and other current liabilities 57,494 91,616 37,715 (15,675) 171,150  Total current liabilities 559,154 1,242,471 45,590 (262,326) 1,584,889  Long-term debt, less current maturities 610,080 76,042 — (5,857) 680,265  Deferred income taxes 62,562 211,828 22,338 — 296,728  Other long-term liabilities 108,004 2,312 30,554 — 140,870  Intercompany notes and advances payable 186,971 — 36,765 (223,736) —   Contingencies and commitments — — — — —   Stockholders’ equity 1,492,833 2,105,655 36,363 (2,142,018) 1,492,833  Total liabilities and stockholders' equity $ 3,019,604 $ 3,638,308 $ 171,610 $ (2,633,937) $ 4,195,585 TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 201 5  UNAUDITED     Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Assets  Current assets:  Cash and cash equivalents $ 47,196 $ 26,892 $ 1,364 $ — $ 75,452  Restricted cash 3,369 3,283 39,201 — 45,853  Accounts receivable 358,437 1,179,919 82,004 (146,745) 1,473,615  Costs and estimated earnings in excess of billings 114,580 868,026 152 (77,583) 905,175  Deferred income taxes 2,255 21,356 2,695 — 26,306  Other current assets 60,119 48,482 11,662 (11,419) 108,844  Total current assets 585,956 2,147,958 137,078 (235,747) 2,635,245  Property and equipment 105,306 414,143 4,076 — 523,525  Intercompany notes and receivables — 148,637 — (148,637) —  Goodwill — 585,006 — — 585,006  Intangible assets, net — 96,540 — — 96,540  Investment in subsidiaries 1,962,983 — — (1,962,983) —  Other Assets 58,722 128,094 15,268 (5,723) 196,361  Total assets $ 2,712,967 $ 3,520,378 $ 156,422 $ (2,353,090) $ 4,036,677   Liabilities and stockholders' equity  Current liabilities:  Current maturities of long-term debt $ 107,283 $ 41,634 $ — $ (60,000) $ 88,917  Accounts payable 211,679 890,268 3,222 (167,705) 937,464  Billings in excess of costs and estimated earnings 89,303 203,003 1,716 (5,711) 288,311  Accrued expenses and other current liabilities 6,145 115,392 39,810 (2,331) 159,016  Total current liabilities 414,410 1,250,297 44,748 (235,747) 1,473,708  Long-term debt, less current maturities 653,669 80,821 — (5,723) 728,767  Deferred income taxes — 273,310 — — 273,310  Other long-term liabilities 106,588 3,278 30,799 — 140,665  Intercompany notes and advances payable 118,073 — 30,564 (148,637) —   Contingencies and commitments — — — — —   Stockholders’ equity 1,420,227 1,912,672 50,311 (1,962,983) 1,420,227  Total liabilities and stockholders' equity $ 2,712,967 $ 3,520,378 $ 156,422 $ (2,353,090) $ 4,036,677  TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2016  UNAUDITED     Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Cash flows from operating activities:  Net income (loss) $ 36,760 $ 39,228 $ 4,194 $ (43,422) $ 36,760  Adjustments to reconcile net income to net cash from operating activities:  Depreciation and amortization 12,244 17,571 141 — 29,956  Equity in earnings of subsidiaries (43,422) — — 43,422 —  Share-based compensation expense 6,959 — — — 6,959  Change in debt discount and deferred debt issuance costs 3,348 — — — 3,348  Deferred income taxes (261) (110) — — (371)  Loss on sale of property and equipment 138 66 — — 204  Other long-term liabilities (2,600) (966) (245) — (3,811)  Other non-cash items (240) 1,440 — — 1,200  Changes in other components of working capital 24,144 (92,711) (1,102) — (69,669)  NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 37,070 (35,482) 2,988 — 4,576   Cash flows from investing activities:  Acquisition of property and equipment excluding financed purchases (1,410) (7,271) — — (8,681)  Proceeds from sale of property and equipment 164 928 — — 1,092  (Increase) decrease in intercompany advances — 71,487 — (71,487) —  Change in restricted cash 108 325 (4,032) — (3,599)  NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (1,138) 65,469 (4,032) (71,487) (11,188)   Cash flows from financing activities:  Proceeds from issuance of convertible notes 200,000 — — — 200,000  Proceeds from debt 705,708 5,384 — — 711,092  Repayment of debt (846,019) (25,635) — — (871,654)  Debt Issuance Costs (14,656) — — — (14,656)  Increase (decrease) in intercompany advances (71,417) — (70) 71,487 —  NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES (26,384) (20,251) (70) 71,487 24,782   Net (decrease) increase in cash and cash equivalents 9,548 9,736 (1,114) — 18,170  Cash and cash equivalents at beginning of year 47,196 26,892 1,364 — 75,452  Cash and cash equivalents at end of period $ 56,744 $ 36,628 $ 250 $ — $ 93,622 TUTOR PERINI CORPORATION AND SUBSIDIARIE S CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2015  UNAUDITED     Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Cash flows from operating activities:  Net income (loss) $ 16,903 $ 14,691 $ 3,835 $ (18,526) $ 16,903  Adjustments to reconcile net income to net cash from operating activities:  Depreciation and amortization 4,919 15,333 137 — 20,389  Equity in earnings of subsidiaries (18,526) — — 18,526 —  Share-based compensation expense 13,324 — — — 13,324  Excess income tax benefit from stock-based compensation (162) — — — (162)  Change in debt discount and deferred debt issuance costs 1,045 — — — 1,045  Deferred income taxes (177) — — — (177)  (Gain) loss on sale of property and equipment 29 (342) — — (313)  Other long-term liabilities (56) 98 — — 42  Other non-cash items 1,881 (5,140) — — (3,259)  Changes in other components of working capital (159,846) 96,590 (16,294) — (79,550)  NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (140,666) 121,230 (12,322) — (31,758)   Cash flows from investing activities:  Acquisition of property and equipment — (29,516) (28) — (29,544)  Proceeds from sale of property and equipment (21,505) 22,627 — — 1,122  Decrease (increase) in intercompany advances — (101,660) — 101,660 —  Change in restricted cash — 339 4,538 — 4,877  NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (21,505) (108,210) 4,510 101,660 (23,545)   Cash flows from financing activities:  Proceeds from debt 473,362 128 — — 473,490  Repayment of debt (427,107) (19,132) — — (446,239)  Excess income tax benefit from stock-based compensation 162 — — — 162  Issuance of common stock and effect of cashless exercise (776) — — — (776)  Increase (decrease) in intercompany advances 104,573 — (2,913) (101,660) —  NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES 150,214 (19,004) (2,913) (101,660) 26,637   Net (decrease) increase in cash and cash equivalents (11,957) (5,984) (10,725) — (28,666)  Cash and cash equivalents at beginning of year 75,087 36,764 23,732 — 135,583  Cash and cash equivalents at end of period $ 63,130 $ 30,780 $ 13,007 $ — $ 106,917

Recent Accounting Pronounceme20

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2016
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	(2) Recent Accounting Pronouncements  In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments . The amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and s upportable information in credit loss estimates. This guidance is effective for the Company as of January 1, 2020 with early adoption permitted as of January 1, 2019. The Company is currently assessing the impact of this standard on its consolidated financial statements.  In the first quarter of 2016, the Company adopted ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30). This ASU requires companies to present, in the balance sheet, debt issuance costs related to a recognized debt liability as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In addition, the amortization of that debt discount is required to be presented as a component of interest expense. The Company applied this guidance retrospectively, effective January 1, 2016 . A ccordingly, the Company reclassified unamortized debt issuance costs of $5.8 million from Other Assets to Long-Term Debt , less current maturities in its December 31, 2015 Condensed Consolidated Balance Sheet and reclassified amortization of deferred debt issuance costs of $0.3 million and $0.6 million, respectively, from Other income (e xpense ), net to Interest Expense in its Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2015 .  In March 2016, the FASB issued ASU No. 2016-09, Improvement to Employee Share-Based Payment Accounting (Topic 718), which simplifies several aspects of the accounting for employee share-based payments including: accounting for income taxes, forfeitures and statutory tax withholding requirements. This guidance is to be adopted by the Company as of January 1, 2017. The adoption of this ASU is not expected to have a material impact on the Company’s financial statements.  In March 2016, the FASB issued ASU No. 2016-07, Equity Method and Joint Ventures (Topic 323), which eliminates the requirement that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership. Instead, an equity method investor adds the cost of acquiring the additional interest to the current basis of the previously held interest and adopts the equity method of accounting as of the date the investment becomes qualified as such. This guidance is effective for the Company as of January 1, 2017. The Company is currently evaluating the effect that the adoption of this ASU will have on its financial statements.  In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic-842), which amends the existing guidance in ASC 840 Leases . This amendment requires the recognition of lease assets and lease liabilities by lessees for those leases currently classified as operating leases. Other significant provisions of the amendment include (i) defining the “lease term” to include the non-cancellable period together with periods for which there is a significant economic incentive for the lessee to extend or not terminate the lease; (ii) defining the initial lease liability to be recorded on the balance sheet to contemplate only those variable lease payments that depend on an index or that are in substance “fixed”; and (iii) a dual approach for determining whether lease expense is recognized on a straight-line or accelerated basis, depending on whether the lessee is expected to consume more than an insignificant portion of the leased asset’s economic benefits. This ASU is to be adopted by the Company as of January 1, 2019. Lessees and lessors are required to use a modified retrospective transition method for existing leases. Accordingly, they would apply the new accounting model for the earliest year presented in the financial statements. The Company is currently evaluating the effect that the adoption of this ASU will have on its financial statements.  In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes (Subtopic 740-10). This ASU requires entities to present all deferred tax assets and all deferred tax liabilities as noncurrent in a classified balance sheet. This ASU is effective for the Company as of January 1, 2017. The Company had $ 19.1 million of current deferred tax assets and $31.1 million of current deferred tax liabilities as of June 30 2016, which will be presented as noncurrent upon adoption of this ASU.  In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which provides a single comprehensive accounting standard for revenue recognition for contracts with customers and supersedes current industry-specific guidance, including ASC 605-35. The new standard prescribes a five-step revenue recognition model that focuses on transfer of control and entitlement to consideration in determining the amount of revenue to be recognized. The guidance also significantly expands qualitative and quantitative disclosure requirements regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The standard is effective for the Company as of January 1, 2018. The adoption will result in retrospective application, either in the form of recasting all prior periods presented or a cumulative adjustment to equity in the period of adoption. The Company is currently evaluating the effect that the adoption of this ASU will have on its financial statements.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings per Share [Abstract]
Calculations of the Basic and Diluted EPS	   Three Months Ended June 30, Six Months Ended June 30,  (in thousands, except per share data) 2016 2015 2016 2015  Net income $ 21,361 $ 11,777 $ 36,760 $ 16,903   Weighted-average common shares outstanding - basic 49,131 49,028 49,105 48,890  Effect of diluted stock options and unvested restricted stock 430 800 318 798  Weighted-average common shares outstanding - diluted 49,561 49,828 49,423 49,688   Net income per share:  Basic $ 0.43 $ 0.24 $ 0.75 $ 0.35  Diluted $ 0.43 $ 0.24 $ 0.74 $ 0.34   Anti-dilutive shares not included above 1,704 628 1,704 574 

Costs and estimated earnings 22

Costs and estimated earnings in excess of billings (Tables)	6 Months Ended
	Jun. 30, 2016
Costs and estimated earnings in excess of billings [Abstract]
Costs and estimated earnings in excess of billings	   June 30, December 31,  (in thousands) 2016 2015  Claims $ 427,558 $ 407,164  Unapproved change orders 220,427 270,019  Other unbilled costs and profits 163,421 227,992  Total costs and estimated earnings in excess of billings $ 811,406 $ 905,175 

Financial Commitments (Tables)

Financial Commitments (Tables)	6 Months Ended
	Jun. 30, 2016
Financial Commitments [Abstract]
Long-term Debt	   June 30, December 31,  (in thousands) 2016 2015  Term Loan $ 83,911 $ 222,120  Revolver 148,070 155,815  Senior Notes 297,616 297,118  Convertible Notes 148,606 —  Equipment financing, mortgages and acquisition-related notes 116,179 133,288  Other indebtedness 6,139 9,343  Total debt 800,521 817,684  Less – current maturities (120,256) (88,917)  Long-term debt, net $ 680,265 $ 728,767 
Reconciliation Of Outstanding Debt Balance To Reported Debt Balance	   June 30, 2016 December 31, 2015  (in thousands) Outstanding Long-Term Debt Unamortized Discount and Issuance Cost Long-Term Debt, as reported Outstanding Long-Term Debt Unamortized Discount and Issuance Cost Long-Term Debt, as reported  Term Loan $ 87,500 $ (3,589) $ 83,911 $ 223,750 $ (1,630) $ 222,120  Revolver 154,000 (5,930) 148,070 158,000 (2,185) 155,815  Senior Notes 300,000 (2,384) 297,616 300,000 (2,882) 297,118  Convertible Notes 200,000 (51,394) 148,606 — — — 
Summary Of Information Related To The Liability And Equity Components Of The Convertible Notes	   (in thousands) June 30, 2016  Liability component:  Principal $ 200,000  Conversion feature (46,800)  Allocated debt issuance costs (4,934)  Amortization of discount and debt issuance costs (non-cash interest expense) 340  Net carrying amount $ 148,606   Equity component:  Conversion feature $ 46,800  Allocated debt issuance costs (1,507)  Net deferred tax liability (18,787)  Net carrying amount $ 26,506 
Summary Of Interest Expense As Reported In The Condensed Consolidated Statements of Operations	 Three Months Ended Six Months Ended  June 30, June 30,  (in thousands) 2016 2015 2016 2015  Cash interest expense:  Interest on Credit Facility $ 7,051 $ 3,633 $ 12,389 $ 7,229  Interest on Senior Notes 5,719 5,719 11,438 11,438  Interest on Convertible Notes 240 — 240 —  Other interest 863 1,393 2,199 2,959  Total cash interest expense 13,873 10,745 26,266 21,626   Non-cash interest expense: (a)  Amortization of debt issuance costs on Original Facility and Amendments 1,071 279 2,510 558  Amortization of discount and debt issuance costs on Senior Notes 250 244 498 487  Amortization of discount and debt issuance costs on Convertible Notes 340 — 340 —  Total non-cash interest expense 1,661 523 3,348 1,045   Total cash and non-cash interest expense $ 15,534 $ 11,268 $ 29,614 $ 22,671 (a) Non-cash interest expense in the table above was the result of the amortization of debt discounts and debt issuance costs associated with the Credit Facility, the Senior Notes and the Convertible Notes. As a result, t his amortization produces an effective interest rate for these liabilities that is greater than the contractual rate per their respective debt indenture agreements; accordingly, the effective interest rates for the Credit Facility, Senior Notes and Convertible Notes are 9.66% , 7.99% and 9.37% , respectively.

Other Comprehensive Income (L24

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2016
Other Comprehensive Income (Loss) [Abstract]
Schedule Of Tax Effects Of The Components Of Other Comprehensive Income (Loss)	The tax effects of the components of other comprehensive income (loss) for the three months ended June 30, 2016 and 2015 are as follows:     Three Months Ended Three Months Ended  June 30, 2016 June 30, 2015  (in thousands) Before-Tax Amount Tax (Expense) Benefit Net-of-Tax Amount Before-Tax Amount Tax (Expense) Benefit Net-of-Tax Amount  Other comprehensive income (loss):  Defined benefit pension plan adjustments $ 427 $ (103) $ 324 $ - $ - $ -  Foreign currency translation adjustment (396) 138 (258) (1,877) 731 (1,146)  Unrealized gain (loss) in fair value of investments (271) 118 (153) (122) 48 (74)  Unrealized gain (loss) in fair value of interest rate swap 17 (6) 11 99 (39) 60  Total other comprehensive income (loss) $ (223) $ 147 $ (76) $ (1,900) $ 740 $ (1,160)  The tax effects of the components of other comprehensive income (loss) for the six months ended June 30, 2016 and 2015 are as follows:     Six Months Ended Six Months Ended  June 30, 2016 June 30, 2015  (in thousands) Before-Tax Amount Tax (Expense) Benefit Net-of-Tax Amount Before-Tax Amount Tax (Expense) Benefit Net-of-Tax Amount  Other comprehensive income (loss):  Defined benefit pension plan adjustments $ 853 $ (282) $ 571 $ - $ - $ -  Foreign currency translation adjustment 1,208 (536) 672 (2,841) 1,107 (1,734)  Unrealized gain (loss) in fair value of investments (258) 113 (145) (138) 54 (84)  Unrealized gain (loss) in fair value of interest rate swap (45) 21 (24) 173 (68) 105  Total other comprehensive income (loss) $ 1,758 $ (684) $ 1,074 $ (2,806) $ 1,093 $ (1,713) 
Schedule Of Changes In AOCI Balances By Component (After-Tax)	     For the Three Months Ended June 30, 2016  (in thousands) Defined Benefit Pension Plan Foreign Currency Translation Unrealized Gain in Fair Value of Investments, net Unrealized Gain (Loss) in Fair Value of Interest Rate Swap, net Accumulated Other Comprehensive Income (Loss), Net  Balance as of March 31, 2016 $ (37,995) $ (3,673) $ 664 $ (11) $ (41,015)  Other comprehensive income (loss) before reclassifications — (258) (153) 11 (400)  Amounts reclassified from AOCI 324 — — — 324  Total other comprehensive income (loss) 324 (258) (153) 11 (76)  Balance as of June 30,2016 $ (37,671) $ (3,931) $ 511 $ — $ (41,091)      For the Six Months Ended June 30, 2016  (in thousands) Defined Benefit Pension Plan Foreign Currency Translation Unrealized Gain in Fair Value of Investments, net Unrealized Gain (Loss) in Fair Value of Interest Rate Swap, net Accumulated Other Comprehensive Income (Loss), Net  Balance as of December 31, 2015 $ (38,242) $ (4,603) $ 656 $ 24 $ (42,165)  Other comprehensive income (loss) before reclassifications — 672 (145) (24) 503  Amounts reclassified from AOCI 571 — — — 571  Total other comprehensive income (loss) 571 672 (145) (24) 1,074  Balance as of June 30, 2016 $ (37,671) $ (3,931) $ 511 $ — $ (41,091)  The following tables present the changes in AOCI balances by component (after tax) for the three and six months ended June 30, 2015:     For the Three Months Ended June 30, 2015  (in thousands) Defined Benefit Pension Plan Foreign Currency Translation Unrealized Loss in Fair Value of Investments, net Unrealized Gain in Fair Value of Interest Rate Swap, net Accumulated Other Comprehensive Income (Loss), Net  Balance as of March 31, 2015 $ (40,268) $ (1,977) $ (120) $ 194 $ (42,171)  Other comprehensive income (loss) — (1,146) (74) 60 (1,160)  Balance as of June 30, 2015 $ (40,268) $ (3,123) $ (194) $ 254 $ (43,331)      For the Six Months Ended June 30, 2015  (in thousands) Defined Benefit Pension Plan Foreign Currency Translation Unrealized Loss in Fair Value of Investments, net Unrealized Gain in Fair Value of Interest Rate Swap, net Accumulated Other Comprehensive Income (Loss), Net  Balance as of December 31, 2014 $ (40,268) $ (1,389) $ (110) $ 149 $ (41,618)  Other comprehensive income (loss) — (1,734) (84) 105 (1,713)  Balance as of June 30, 2015 (40,268) (3,123) (194) 254 (43,331) 
Schedule Of Items Reclassified Out Of AOCI And The Corresponding Location And Impact On The Condensed Consolidated Statement Of Operations	 Location in Three Months Ended Six Months Ended  Condensed Consolidated June 30, June 30,  (in thousands) Statements of Earnings 2016 2015 2016 2015  Defined benefit pension plan adjustments Various accounts (a) $ 427 $ — $ 853 $ —  Income tax benefit Provision for income taxes (103) — (282) —  Net of tax $ 324 $ — $ 571 $ —  (a) Defined benefit pension plan adjustments were reclassified primarily to cost of operations and general and administrative expenses.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Measurements [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	    June 30, 2016 December 31, 2015  Fair Value Hierarchy Fair Value Hierarchy  (in thousands) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3  Assets:  Cash and cash equivalents (a) $ 93,622 $ 93,622 $ — $ — $ 75,452 $ 75,452 $ — $ —  Restricted cash (a) 49,452 49,452 — — 45,853 45,853 — —  Investments in lieu of retainage (b) 47,204 41,080 6,124 — 41,566 35,350 6,216 —  Total $ 190,278 $ 184,154 $ 6,124 $ — $ 162,871 $ 156,655 $ 6,216 $ —   Liabilities:  Interest rate swap contract (c) $ — $ — $ — $ — $ 45 $ — $ 45 $ —  Total $ — $ — $ — $ — $ 45 $ — $ 45 $ — (a) Cash, cash equivalents and restricted cash consist primarily of money market funds with original maturity dates of three months or less, for which fair value is determined through quoted market prices. (b) Investments in lieu of retainage are classified as account s r eceivable and are comprised primarily of mo ney market funds, U.S. Treasury Notes and other municipal bonds , the majority of which are rated Aa3 or better. The fair values of the U.S. Treasury Notes and municipal bonds are obtained from readily-available pricing sources for comparable instruments and, as such, the Company has classified these assets as Level 2 . (c) The Company values the interest rate swap liability utilizing a discounted cash flow model that takes into consideration forward interest rates observable in the market and the counterparty’s risk. The Company's only interes t rate swap contract expired in June 2016.

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2016
Business Segments [Abstract]
Reportable Segments	  Reportable Segments  Specialty Consolidated  (in thousands) Civil Building Contractors Total Corporate Total  Three Months Ended June 30, 2016  Total revenue $ 504,930 $ 546,157 $ 318,902 $ 1,369,989 $ — $ 1,369,989  Elimination of intersegment revenue (39,223) (22,636) — (61,859) — (61,859)  Revenue from external customers $ 465,707 $ 523,521 $ 318,902 $ 1,308,130 $ — $ 1,308,130  Income from construction operations $ 45,056 $ 13,223 $ 5,413 $ 63,692 $ (14,863) (a) $ 48,829   Three Months Ended June 30, 2015  Total revenue $ 573,360 $ 472,247 $ 326,798 $ 1,372,405 $ — $ 1,372,405  Elimination of intersegment revenue (39,180) (20,843) 56 (59,967) — (59,967)  Revenue from external customers $ 534,180 $ 451,404 $ 326,854 $ 1,312,438 $ — $ 1,312,438  Income from construction operations $ 46,329 $ (12,592) $ 13,743 $ 47,480 $ (16,599) (a) $ 30,881   Reportable Segments  Specialty Consolidated  (in thousands) Civil Building Contractors Total Corporate Total  Six Months Ended June 30, 2016  Total revenue $ 872,431 $ 1,034,151 $ 600,675 $ 2,507,257 $ — $ 2,507,257  Elimination of intersegment revenue (70,866) (42,892) — (113,758) — (113,758)  Revenue from external customers $ 801,565 $ 991,259 $ 600,675 $ 2,393,499 $ — $ 2,393,499  Income from construction operations $ 78,721 $ 25,673 $ 14,826 $ 119,220 $ (30,269) (a) $ 88,951   Six Months Ended June 30, 2015  Total revenue $ 966,236 $ 888,309 $ 619,816 $ 2,474,361 $ — $ 2,474,361  Elimination of intersegment revenue (57,382) (38,076) — (95,458) — (95,458)  Revenue from external customers $ 908,854 $ 850,233 $ 619,816 $ 2,378,903 $ — $ 2,378,903  Income from construction operations $ 76,923 $ (14,870) $ 24,267 $ 86,320 $ (35,355) (a) $ 50,965 (a) Consists primarily of corporate general and administrative expenses. 
Reconciliation of Segment Results to Consolidated Income Before Income Taxes	   Three Months Ended June 30, Six Months Ended June 30,  (in thousands) 2016 2015 2016 2015  Income from construction operations $ 48,829 $ 30,881 $ 88,951 $ 50,965  Other income (expense), net 2,485 379 3,166 (97)  Interest expense (15,534) (11,268) (29,614) (22,671)  Income before income taxes $ 35,780 $ 19,992 $ 62,503 $ 28,197 
Schedule of Assets by Segment	   (in thousands) June 30, 2016 December 31, 2015  Civil $ 2,044,060 $ 1,964,038  Building 882,465 795,851  Specialty Contractors 803,073 860,285  Corporate and other (a) 465,987 416,503  Total Assets $ 4,195,585 $ 4,036,677 (a) Consists principally of cash and cash equivalents as well as corporate transportation and other equipment.

Employee Pension Plans (Tables)

Employee Pension Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Employee Pension Plans [Abstract]
Components of Net Periodic Benefit Cost	   Three Months Ended June 30, Six Months Ended June 30,  (in thousands) 2016 2015 2016 2015  Interest cost $ 1,053 $ 1,011 $ 2,106 $ 2,022  Expected return on plan assets (1,203) (1,256) (2,406) (2,512)  Amortization of net loss 427 1,460 854 2,920  Other 150 — 300 —  Net periodic benefit cost $ 427 $ 1,215 $ 854 $ 2,430 

Separate Financial Informatio28

Separate Financial Information of Subsidiary Guarantors of Indebtedness (Tables)	6 Months Ended
	Jun. 30, 2016
Separate Financial Information of Subsidiary Guarantors of Indebtedness [Abstract]
Condensed Consolidating Statement of Operations	TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2016  UNAUDITED      Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Revenue $ 248,134 $ 1,134,967 $ 469 $ (75,440) $ 1,308,130  Cost of operations (214,264) (1,059,536) — 75,440 (1,198,360)  Gross profit 33,870 75,431 469 — 109,770  General and administrative expenses (18,040) (42,438) (463) — (60,941)  Income from construction operations 15,830 32,993 6 — 48,829  Equity in earnings of subsidiaries 20,343 — — (20,343) —  Other income (expense), net 1,568 1,127 253 (463) 2,485  Interest expense (15,396) (601) — 463 (15,534)  Income (Loss) before income taxes 22,345 33,519 259 (20,343) 35,780  Provision for income taxes (984) (13,410) (25) — (14,419)  Net income (loss) $ 21,361 $ 20,109 $ 234 $ (20,343) $ 21,361   Other comprehensive income (loss), net of tax:  Other comprehensive income of subsidiaries (411) — — 411 —  Defined benefit pension plan adjustments 324 — — — 324  Foreign currency translation adjustment — (258) — — (258)  Unrealized gain in fair value of investments — (153) — — (153)  Unrealized loss in fair value of interest rate swap 11 — — — 11  Total other comprehensive (loss) income, net of tax (76) (411) — 411 (76)   Total Comprehensive Income (Loss) $ 21,285 $ 19,698 $ 234 $ (19,932) $ 21,285 TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2015  UNAUDITED        Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Revenue $ 309,217 $ 1,065,766 $ 2,793 $ (65,338) $ 1,312,438  Cost of operations (265,129) (1,014,027) — 65,338 (1,213,818)  Gross profit 44,088 51,739 2,793 — 98,620  General and administrative expenses (25,289) (41,985) (465) — (67,739)  Income from construction operations 18,799 9,754 2,328 — 30,881  Equity in earnings of subsidiaries 6,586 — — (6,586) —  Other income (expense), net (187) 431 135 — 379  Interest expense (10,413) (855) — — (11,268)  Income (Loss) before income taxes 14,785 9,330 2,463 (6,586) 19,992  Provision for income taxes (3,008) (4,121) (1,086) — (8,215)  Net income (loss) $ 11,777 $ 5,209 $ 1,377 $ (6,586) $ 11,777   Other comprehensive income (loss), net of tax:  Other comprehensive income of subsidiaries (1,220) — — 1,220 —  Defined benefit pension plan adjustments — — — — —  Foreign currency translation adjustment — (1,146) — — (1,146)  Unrealized loss in fair value of investments — (74) — — (74)  Unrealized gain in fair value of interest rate swap 60 — — — 60  Total other comprehensive (loss) income, net of tax (1,160) (1,220) — 1,220 (1,160)   Total Comprehensive Income (Loss) $ 10,617 $ 3,989 $ 1,377 $ (5,366) $ 10,617   TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2016  UNAUDITED     Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Revenue $ 424,859 $ 2,121,328 $ 7,573 $ (160,261) $ 2,393,499  Cost of operations (368,553) (1,970,345) — 160,261 (2,178,637)  Gross profit 56,306 150,983 7,573 — 214,862  General and administrative expenses (39,698) (85,275) (938) — (125,911)  Income from construction operations 16,608 65,708 6,635 — 88,951  Equity in earnings of subsidiaries 43,422 — — (43,422) —  Other income (expense), net 946 2,187 496 (463) 3,166  Interest expense (28,880) (1,197) — 463 (29,614)  Income (Loss) before income taxes 32,096 66,698 7,131 (43,422) 62,503  Benefit (Provision) for income taxes 4,664 (27,470) (2,937) — (25,743)  Net income (loss) $ 36,760 $ 39,228 $ 4,194 $ (43,422) $ 36,760   Other comprehensive income (loss), net of tax:  Other comprehensive income of subsidiaries 527 — — (527) —  Defined benefit pension plan adjustments 571 — — — 571  Foreign currency translation adjustment — 672 — — 672  Unrealized gain in fair value of investments — (145) — — (145)  Unrealized loss in fair value of interest rate swap (24) — — — (24)  Total other comprehensive (loss) income, net of tax $ 1,074 $ 527 $ — $ (527) $ 1,074   Total Comprehensive Income (Loss) $ 37,834 $ 39,755 $ 4,194 $ (43,949) $ 37,834  TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2015  UNAUDITED       Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Revenue $ 545,509 $ 1,950,869 $ 7,084 $ (124,559) $ 2,378,903  Cost of operations (474,962) (1,839,121) — 124,559 (2,189,524)  Gross profit 70,547 111,748 7,084 — 189,379  General and administrative expenses (50,324) (87,151) (939) — (138,414)  Income from construction operations 20,223 24,597 6,145 — 50,965  Equity in earnings of subsidiaries 18,526 — — (18,526) —  Other income (expense), net (1,977) 1,627 253 — (97)  Interest expense (20,955) (1,716) — — (22,671)  Income (Loss) before income taxes 15,817 24,508 6,398 (18,526) 28,197  Benefit (Provision) for income taxes 1,086 (9,817) (2,563) — (11,294)  Net income (loss) $ 16,903 $ 14,691 $ 3,835 $ (18,526) $ 16,903   Other comprehensive income (loss), net of tax:  Other comprehensive income of subsidiaries (1,818) — — 1,818 —  Defined benefit pension plan adjustments —  Foreign currency translation adjustment — (1,734) — — (1,734)  Unrealized loss in fair value of investments — (84) — — (84)  Unrealized gain in fair value of interest rate swap 105 — — — 105  Total other comprehensive (loss) income, net of tax (1,713) (1,818) — 1,818 (1,713)   Total Comprehensive Income (Loss) $ 15,190 $ 12,873 $ 3,835 $ (16,708) $ 15,190 
Condensed Consolidating Balance Sheet	TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2016  UNAUDITED     Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Assets  Current assets:  Cash and cash equivalents $ 56,744 $ 36,628 $ 250 $ — $ 93,622  Restricted cash 3,261 2,958 43,233 — 49,452  Accounts receivable 456,016 1,377,164 89,282 (183,119) 1,739,343  Costs and estimated earnings in excess of billings 97,028 774,448 152 (60,222) 811,406  Deferred income taxes 8,898 10,200 — — 19,098  Other current assets 49,217 37,705 9,023 (18,985) 76,960  Total current assets 671,164 2,239,103 141,940 (262,326) 2,789,881  Property and equipment 94,170 409,290 3,935 — 507,395  Intercompany notes and receivables — 223,736 — (223,736) —  Goodwill — 585,006 — — 585,006  Intangible assets, net — 94,768 — — 94,768  Investment in subsidiaries 2,142,018 — — (2,142,018) —  Other Assets 112,252 86,405 25,735 (5,857) 218,535  Total assets $ 3,019,604 $ 3,638,308 $ 171,610 $ (2,633,937) $ 4,195,585   Liabilities and stockholders' equity  Current liabilities:  Current maturities of long-term debt $ 153,959 $ 26,297 $ — $ (60,000) $ 120,256  Accounts payable 233,052 923,075 5,351 (193,285) 968,193  Billings in excess of costs and estimated earnings 114,649 201,483 2,524 6,634 325,290  Accrued expenses and other current liabilities 57,494 91,616 37,715 (15,675) 171,150  Total current liabilities 559,154 1,242,471 45,590 (262,326) 1,584,889  Long-term debt, less current maturities 610,080 76,042 — (5,857) 680,265  Deferred income taxes 62,562 211,828 22,338 — 296,728  Other long-term liabilities 108,004 2,312 30,554 — 140,870  Intercompany notes and advances payable 186,971 — 36,765 (223,736) —   Contingencies and commitments — — — — —   Stockholders’ equity 1,492,833 2,105,655 36,363 (2,142,018) 1,492,833  Total liabilities and stockholders' equity $ 3,019,604 $ 3,638,308 $ 171,610 $ (2,633,937) $ 4,195,585 TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 201 5  UNAUDITED     Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Assets  Current assets:  Cash and cash equivalents $ 47,196 $ 26,892 $ 1,364 $ — $ 75,452  Restricted cash 3,369 3,283 39,201 — 45,853  Accounts receivable 358,437 1,179,919 82,004 (146,745) 1,473,615  Costs and estimated earnings in excess of billings 114,580 868,026 152 (77,583) 905,175  Deferred income taxes 2,255 21,356 2,695 — 26,306  Other current assets 60,119 48,482 11,662 (11,419) 108,844  Total current assets 585,956 2,147,958 137,078 (235,747) 2,635,245  Property and equipment 105,306 414,143 4,076 — 523,525  Intercompany notes and receivables — 148,637 — (148,637) —  Goodwill — 585,006 — — 585,006  Intangible assets, net — 96,540 — — 96,540  Investment in subsidiaries 1,962,983 — — (1,962,983) —  Other Assets 58,722 128,094 15,268 (5,723) 196,361  Total assets $ 2,712,967 $ 3,520,378 $ 156,422 $ (2,353,090) $ 4,036,677   Liabilities and stockholders' equity  Current liabilities:  Current maturities of long-term debt $ 107,283 $ 41,634 $ — $ (60,000) $ 88,917  Accounts payable 211,679 890,268 3,222 (167,705) 937,464  Billings in excess of costs and estimated earnings 89,303 203,003 1,716 (5,711) 288,311  Accrued expenses and other current liabilities 6,145 115,392 39,810 (2,331) 159,016  Total current liabilities 414,410 1,250,297 44,748 (235,747) 1,473,708  Long-term debt, less current maturities 653,669 80,821 — (5,723) 728,767  Deferred income taxes — 273,310 — — 273,310  Other long-term liabilities 106,588 3,278 30,799 — 140,665  Intercompany notes and advances payable 118,073 — 30,564 (148,637) —   Contingencies and commitments — — — — —   Stockholders’ equity 1,420,227 1,912,672 50,311 (1,962,983) 1,420,227  Total liabilities and stockholders' equity $ 2,712,967 $ 3,520,378 $ 156,422 $ (2,353,090) $ 4,036,677 
Condensed Consolidating Statement of Cash Flows	TUTOR PERINI CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2016  UNAUDITED     Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Cash flows from operating activities:  Net income (loss) $ 36,760 $ 39,228 $ 4,194 $ (43,422) $ 36,760  Adjustments to reconcile net income to net cash from operating activities:  Depreciation and amortization 12,244 17,571 141 — 29,956  Equity in earnings of subsidiaries (43,422) — — 43,422 —  Share-based compensation expense 6,959 — — — 6,959  Change in debt discount and deferred debt issuance costs 3,348 — — — 3,348  Deferred income taxes (261) (110) — — (371)  Loss on sale of property and equipment 138 66 — — 204  Other long-term liabilities (2,600) (966) (245) — (3,811)  Other non-cash items (240) 1,440 — — 1,200  Changes in other components of working capital 24,144 (92,711) (1,102) — (69,669)  NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 37,070 (35,482) 2,988 — 4,576   Cash flows from investing activities:  Acquisition of property and equipment excluding financed purchases (1,410) (7,271) — — (8,681)  Proceeds from sale of property and equipment 164 928 — — 1,092  (Increase) decrease in intercompany advances — 71,487 — (71,487) —  Change in restricted cash 108 325 (4,032) — (3,599)  NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (1,138) 65,469 (4,032) (71,487) (11,188)   Cash flows from financing activities:  Proceeds from issuance of convertible notes 200,000 — — — 200,000  Proceeds from debt 705,708 5,384 — — 711,092  Repayment of debt (846,019) (25,635) — — (871,654)  Debt Issuance Costs (14,656) — — — (14,656)  Increase (decrease) in intercompany advances (71,417) — (70) 71,487 —  NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES (26,384) (20,251) (70) 71,487 24,782   Net (decrease) increase in cash and cash equivalents 9,548 9,736 (1,114) — 18,170  Cash and cash equivalents at beginning of year 47,196 26,892 1,364 — 75,452  Cash and cash equivalents at end of period $ 56,744 $ 36,628 $ 250 $ — $ 93,622 TUTOR PERINI CORPORATION AND SUBSIDIARIE S CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2015  UNAUDITED     Non-  Tutor Perini Guarantor Guarantor Total  (in thousands) Corporation Subsidiaries Subsidiaries Eliminations Consolidated  Cash flows from operating activities:  Net income (loss) $ 16,903 $ 14,691 $ 3,835 $ (18,526) $ 16,903  Adjustments to reconcile net income to net cash from operating activities:  Depreciation and amortization 4,919 15,333 137 — 20,389  Equity in earnings of subsidiaries (18,526) — — 18,526 —  Share-based compensation expense 13,324 — — — 13,324  Excess income tax benefit from stock-based compensation (162) — — — (162)  Change in debt discount and deferred debt issuance costs 1,045 — — — 1,045  Deferred income taxes (177) — — — (177)  (Gain) loss on sale of property and equipment 29 (342) — — (313)  Other long-term liabilities (56) 98 — — 42  Other non-cash items 1,881 (5,140) — — (3,259)  Changes in other components of working capital (159,846) 96,590 (16,294) — (79,550)  NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (140,666) 121,230 (12,322) — (31,758)   Cash flows from investing activities:  Acquisition of property and equipment — (29,516) (28) — (29,544)  Proceeds from sale of property and equipment (21,505) 22,627 — — 1,122  Decrease (increase) in intercompany advances — (101,660) — 101,660 —  Change in restricted cash — 339 4,538 — 4,877  NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (21,505) (108,210) 4,510 101,660 (23,545)   Cash flows from financing activities:  Proceeds from debt 473,362 128 — — 473,490  Repayment of debt (427,107) (19,132) — — (446,239)  Excess income tax benefit from stock-based compensation 162 — — — 162  Issuance of common stock and effect of cashless exercise (776) — — — (776)  Increase (decrease) in intercompany advances 104,573 — (2,913) (101,660) —  NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES 150,214 (19,004) (2,913) (101,660) 26,637   Net (decrease) increase in cash and cash equivalents (11,957) (5,984) (10,725) — (28,666)  Cash and cash equivalents at beginning of year 75,087 36,764 23,732 — 135,583  Cash and cash equivalents at end of period $ 63,130 $ 30,780 $ 13,007 $ — $ 106,917 

Recent Accounting Pronounceme29

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2016	Dec. 31, 2015
Reclassified amortization of deferred debt issuance costs	$ 300	$ 600
Current deferred tax assets			$ 19,098	$ 26,306
Current deferred tax liabilities			31,100
Long-Term Debt, Less Current Maturities [Member] | Reclassification [Member]
Unamortized debt issuance costs				5,800
Tutor Perini Corporation [Member]
Current deferred tax assets			$ 8,898	$ 2,255

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net income	$ 21,361	$ 11,777	$ 36,760	$ 16,903
Weighted-average common shares outstanding - basic	49,131	49,028	49,105	48,890
Effect of diluted stock options and unvested restricted stock	430	800	318	798
Weighted-average common shares outstanding - diluted	49,561	49,828	49,423	49,688
Net income per share: Basic	$ 0.43	$ 0.24	$ 0.75	$ 0.35
Net income per share: Diluted	$ 0.43	$ 0.24	$ 0.74	$ 0.34
Anti-dilutive shares not included above	1,704	628	1,704	574
Convertible Notes [Member]
Debt Instrument, Convertible, Conversion Price	$ 30.25		$ 30.25

Costs And Estimated Earnings 31

Costs And Estimated Earnings In Excess Of Billings (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Costs and estimated earnings in excess of billings [Abstract]
Claims	$ 427,558	$ 407,164
Unapproved change orders	220,427	270,019
Other unbilled costs and profits	163,421	227,992
Total costs and estimated earnings in excess of billings	$ 811,406	$ 905,175

Financial Commitments (Narrativ

Financial Commitments (Narrative) (Details)	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)item$ / sharesshares	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016	Sep. 30, 2016	Mar. 31, 2016
Debt Instrument [Line Items]
Proceeds from debt		$ 200,000,000
Amortization (non-cash interest expense)	$ 300,000		$ 600,000
Letters Of Credit [Member]
Debt Instrument [Line Items]
Face amount		150,000,000
Letters of credit outstanding		$ 200,000
Convertible Notes [Member]
Debt Instrument [Line Items]
Issuance date		Jun. 15, 2016
Face amount		$ 200,000,000
Interest rate		2.875%
Maturity date		Jun. 15, 2021
Payment of debt issuance fees		$ 6,000,000
Conversion price, shares | shares		33.0579
Conversion price, principal amount		$ 1,000
Conversion price | $ / shares		$ 30.25
Effective interest rates		9.37%
Convertible Notes [Member] | Circumstance One [Member]
Debt Instrument [Line Items]
Business day period after consecutive trading day period		5 days
Consecutive trading day period		10 days
Percentage of conversion price		98.00%
Conversion price, principal amount		$ 1,000
Convertible Notes [Member] | Circumstance Two [Member]
Debt Instrument [Line Items]
Business day period after consecutive trading day period		20 days
Percentage of conversion price		130.00%
Term Loan [Member]
Debt Instrument [Line Items]
Face amount		$ 250,000,000
Prepayment of debt		$ 125,000,000
Senior Notes [Member]
Debt Instrument [Line Items]
Effective interest rates		7.99%
Minimum [Member[ | Convertible Notes [Member] | Circumstance Two [Member]
Debt Instrument [Line Items]
Consecutive trading day period		30 days
Credit Facility [Member]
Debt Instrument [Line Items]
Number of amendments | item		2
Maximum adjustment to interest rate		1.00%
Revolver optional increase removed by amendment		$ 300,000,000
Percentage of foreign restricted subsidiary stock pledged as collateral		65.00%
Effective interest rates		9.66%
Credit Facility [Member] | Amendment One [Member] | Minimum [Member[
Debt Instrument [Line Items]
Consolidated leverage ratio		3.5
Credit Facility [Member] | Amendment One [Member] | Minimum [Member[ | Forecast [Member]
Debt Instrument [Line Items]
Consolidated leverage ratio					3
Credit Facility [Member] | Amendment One [Member] | Maximum [Member]
Debt Instrument [Line Items]
Consolidated leverage ratio							4
Credit Facility [Member] | Amendment One [Member] | Maximum [Member] | Forecast [Member]
Debt Instrument [Line Items]
Consolidated leverage ratio					3.25	4.25
Revolver [Member]
Debt Instrument [Line Items]
Repayment of debt		$ 69,000,000
Maximum borrowing capacity		300,000,000
Outstanding borrowings		145,800,000
Brightwater Matter [Member]
Debt Instrument [Line Items]
Pre-tax charges				$ 23,900,000
Five Star Electric [Member]
Debt Instrument [Line Items]
Pre-tax charges				$ 45,600,000
Liability Component [Member] | Convertible Notes [Member]
Debt Instrument [Line Items]
Face amount		200,000,000
Conversion feature		46,800,000
Proceeds from debt		153,200,000
Debt issuance costs		4,934,000
Amortization (non-cash interest expense)		340,000
Equity Component [Member] | Convertible Notes [Member]
Debt Instrument [Line Items]
Conversion feature		46,800,000
Debt issuance costs		$ 1,507,000

Financial Commitments (Long-Ter

Financial Commitments (Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total debt	$ 800,521	$ 817,684
Less - current maturities	(120,256)	(88,917)
Long-term debt, net	680,265	728,767
Term Loan [Member]
Debt Instrument [Line Items]
Total debt	83,911	222,120
Senior Notes [Member]
Debt Instrument [Line Items]
Total debt	297,616	297,118
Convertible Notes [Member]
Debt Instrument [Line Items]
Total debt	148,606
Equipment Financing, Mortgages And Acquisition-Related Notes [Member]
Debt Instrument [Line Items]
Total debt	116,179	133,288
Other Indebtedness [Member]
Debt Instrument [Line Items]
Total debt	6,139	9,343
Revolver [Member]
Debt Instrument [Line Items]
Total debt	$ 148,070	$ 155,815

Financial Commitments (Reconcil

Financial Commitments (Reconciliation Of Outstanding Debt Balance To Reported Debt Balance) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Unamortized Discount and Issuance Cost	$ (63,297)	$ (6,697)
Total debt	800,521	817,684
Revolver [Member]
Debt Instrument [Line Items]
Outstanding Long-Term Debt	154,000	158,000
Unamortized Discount and Issuance Cost	(5,930)	(2,185)
Total debt	148,070	155,815
Term Loan [Member]
Debt Instrument [Line Items]
Outstanding Long-Term Debt	87,500	223,750
Unamortized Discount and Issuance Cost	(3,589)	(1,630)
Total debt	83,911	222,120
Senior Notes [Member]
Debt Instrument [Line Items]
Outstanding Long-Term Debt	300,000	300,000
Unamortized Discount and Issuance Cost	(2,384)	(2,882)
Total debt	297,616	297,118
Convertible Notes [Member]
Debt Instrument [Line Items]
Outstanding Long-Term Debt	200,000
Unamortized Discount and Issuance Cost	(51,394)
Total debt	$ 148,606

Financial Commitments (Summary

Financial Commitments (Summary Of Information Related To The Liability And Equity Components Of The Convertible Notes) (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Debt Instrument [Line Items]
Amortization of discount and debt issuance costs (non-cash interest expense)	$ 300,000		$ 600,000
Convertible Notes [Member]
Debt Instrument [Line Items]
Principal		$ 200,000,000
Liability Component [Member] | Convertible Notes [Member]
Debt Instrument [Line Items]
Principal		200,000,000
Conversion feature		46,800,000
Allocated debt issuance costs		(4,934,000)
Amortization of discount and debt issuance costs (non-cash interest expense)		340,000
Net carrying amount		148,606,000
Equity Component [Member] | Convertible Notes [Member]
Debt Instrument [Line Items]
Conversion feature		46,800,000
Allocated debt issuance costs		(1,507,000)
Net deferred tax liability		(18,787,000)
Net carrying amount		$ 26,506,000

Financial Commitments (Summar36

Financial Commitments (Summary Of Interest Expense As Reported In The Condensed Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other interest	$ 863	$ 1,393	$ 2,199	$ 2,959
Total cash interest expense	13,873	10,745	26,266	21,626
Total non-cash interest expense	1,661	523	3,348	1,045
Total cash and non-cash interest expense	15,534	11,268	29,614	22,671
Senior Notes [Member]
Interest on debt	5,719	5,719	11,438	11,438
Total non-cash interest expense	$ 250	244	$ 498	487
Effective interest rates	7.99%		7.99%
Convertible Notes [Member]
Interest on debt	$ 240		$ 240
Total non-cash interest expense	$ 340		$ 340
Effective interest rates	9.37%		9.37%
Credit Facility [Member]
Interest on debt	$ 7,051	3,633	$ 12,389	7,229
Total non-cash interest expense	$ 1,071	$ 279	$ 2,510	$ 558
Effective interest rates	9.66%		9.66%

Contingencies and Commitments (

Contingencies and Commitments (Details) $ in Thousands

Oct. 01, 2014USD ($)

Mar. 20, 2014USD ($)

Oct. 30, 2013USD ($)

Aug. 20, 2013USD ($)

Mar. 31, 2015USD ($)

Mar. 31, 2011USD ($)

Jun. 30, 2003USD ($)

Dec. 31, 2015USD ($)

Dec. 31, 2009USD ($)room

Jun. 30, 2016USD ($)ft²claim

Jul. 31, 2014USD ($)

May 31, 2012USD ($)

Sep. 30, 2011USD ($)

Jul. 31, 2010USD ($)

May 31, 2010USD ($)

Mar. 31, 2010USD ($)

Jun. 30, 2009USD ($)

Feb. 28, 2006USD ($)

Loss Contingencies [Line Items]

Contract receivables

$ 1,473,615

$ 1,739,343

Tutor Perini Corporation [Member]

Loss Contingencies [Line Items]

Contract receivables

358,437

$ 456,016

Long Island Expressway/Cross Island Parkway Matter [Member]

Loss Contingencies [Line Items]

Estimated value of project completed in Feb. 2006

$ 130,000

Value of claim filed

$ 53,800

Amount receivable as per final agreement

$ 500

Value of counterclaim filed

$ 151,000

Fontainebleau Matter [Member]

Loss Contingencies [Line Items]

Number of rooms in hotel/casino complex | room

3,800

Amount of court order in favor of plaintiff

$ 45,000

Total outstanding liens on property, including subcontractors' liens

$ 44,000

Amount set aside from approved sale for distribution to satisfy creditor claims

$ 125,000

Estimated sustainable lien amount

$ 350,000

Honeywell Street/Queens Boulevard Bridges Matter [Member]

Loss Contingencies [Line Items]

Value of claim filed

$ 8,800

Value of counterclaim filed

$ 74,600

Westgate Planet Hollywood Matter [Member]

Loss Contingencies [Line Items]

Settlement receipt

$ 600

Total awards

19,700

Damages awarded which were anticipated to be paid including interest

$ 3,100

Value of cross complaint filed

$ 51,000

Value of counterclaim filed

45,000

Total outstanding liens on property, including subcontractors' liens

23,200

Value of mechanic's lien release bond

$ 22,300

$ 22,300

Value of supersedeas bond

1,700

Total value of security

$ 24,000

Brightwater Matter [Member]

Loss Contingencies [Line Items]

Pre-tax charge

$ 23,900

U.S. Department of Commerce, National Oceanic and Atmospheric Administration Matter [Member]

Loss Contingencies [Line Items]

Total awards

$ 1,000

Value of claim filed

$ 700

$ 2,600

$ 26,800

Number of claims | claim

3

Square footage of facility | ft²

287,000

Total awards denied

$ 29,500

Share-Based Compensation (Detai

Share-Based Compensation (Details) - $ / shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Restricted Stock Units [Member]
Share-Based Compensation [Line Items]
Units granted	483,387	321,500
Weighted-average per share prices	$ 19.14	$ 23.07
Stock Options [Member]
Share-Based Compensation [Line Items]
Stock options awarded	274,000	259,000
Weighted-average exercise prices	$ 16.20	$ 16.07
Options expiration period	10 years
Term of stock options	10 years

Other Comprehensive Income (L39

Other Comprehensive Income (Loss) (Schedule Of Tax Effects Of The Components Of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other Comprehensive Income (Loss) [Abstract]
Defined benefit pension plan adjustments, Before-Tax Amount	$ 427		$ 853
Defined benefit pension plan adjustments, Tax (Expense) Benefit	(103)		(282)
Defined benefit pension plan adjustments, Net-of-Tax Amount	324		571
Foreign currency translation adjustment, Before-Tax Amount	(396)	$ (1,877)	1,208	$ (2,841)
Foreign currency translation adjustment, Tax (Expense) Benefit	138	731	(536)	1,107
Foreign currency translation adjustment, Net-of-Tax Amount	(258)	(1,146)	672	(1,734)
Unrealized gain (loss) in fair value of investments, Before-Tax Amount	(271)	(122)	(258)	(138)
Unrealized gain (loss) in fair value of investments, Tax (Expense) Benefit	118	48	113	54
Unrealized gain (loss) in fair value of investments, Net-of-Tax Amount	(153)	(74)	(145)	(84)
Unrealized gain (loss) in fair value of interest rate swap, Before-Tax Amount	17	99	(45)	173
Unrealized gain (loss) in fair value of interest rate swap, Tax (Expense) Benefit	(6)	(39)	21	(68)
Unrealized gain (loss) in fair value of interest rate swap, Net-of-Tax Amount	11	60	(24)	105
Total other comprehensive income (loss), Before-Tax Amount	(223)	(1,900)	1,758	(2,806)
Total other comprehensive income (loss), Tax (Expense) Benefit	147	740	(684)	1,093
Total other comprehensive (loss) income, net of tax	$ (76)	$ (1,160)	$ 1,074	$ (1,713)

Other Comprehensive Income (L40

Other Comprehensive Income (Loss) (Schedule Of Changes In AOCI Balances By Component (After-Tax)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period			$ 1,420,227
Net other comprehensive income (loss)	$ (76)	$ (1,160)	1,074	$ (1,713)
Balance at the end of the period	1,492,833		1,492,833
Defined Benefit Pension Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period	(37,995)	(40,268)	(38,242)	(40,268)
Amounts reclassified from AOCI	324		571
Net other comprehensive income (loss)	324		571
Balance at the end of the period	(37,671)	(40,268)	(37,671)	(40,268)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period	(3,673)	(1,977)	(4,603)	(1,389)
Other comprehensive income (loss) before reclassifications	(258)		672
Net other comprehensive income (loss)	(258)	(1,146)	672	(1,734)
Balance at the end of the period	(3,931)	(3,123)	(3,931)	(3,123)
Unrealized Gain (Loss) in Fair Value of Investments, net [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period	664	(120)	656	(110)
Other comprehensive income (loss) before reclassifications	(153)		(145)
Net other comprehensive income (loss)	(153)	(74)	(145)	(84)
Balance at the end of the period	511	(194)	511	(194)
Unrealized Gain (Loss) in Fair Value of Interest Rate Swap, net [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period	(11)	194	24	149
Other comprehensive income (loss) before reclassifications	11		(24)
Net other comprehensive income (loss)	11	60	(24)	105
Balance at the end of the period		254		254
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period	(41,015)	(42,171)	(42,165)	(41,618)
Other comprehensive income (loss) before reclassifications	(400)		503
Amounts reclassified from AOCI	324		571
Net other comprehensive income (loss)	(76)	(1,160)	1,074	(1,713)
Balance at the end of the period	$ (41,091)	$ (43,331)	$ (41,091)	$ (43,331)

Other Comprehensive Income (L41

Other Comprehensive Income (Loss) (Schedule Of Items Reclassified Out Of AOCI And The Corresponding Location And Impact On The Condensed Consolidated Statements Of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Provision for income taxes	$ (14,419)	$ (8,215)	$ (25,743)	$ (11,294)
NET INCOME	21,361	$ 11,777	36,760	$ 16,903
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Defined benefit pension plan adjustments	427		853
Provision for income taxes	(103)		(282)
NET INCOME	$ 324		$ 571

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Taxes [Abstract]
Income tax provision	$ 14,419	$ 8,215	$ 25,743	$ 11,294
Effective income tax rate	40.30%	41.10%	41.20%	40.10%

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Long-term Debt
Transfers between Levels 1 and 2, description	The Company did not have transfers between Levels 1 and 2 for either financial assets or liabilities, during the three and six months ended June 30, 2016 or 2015.
Transfers between Levels 1 and 2, amount	$ 0	$ 0
Long-term debt, carrying amount	800,521		$ 817,684
Proceeds from Convertible Debt	200,000
Senior Notes [Member]
Long-term Debt
Long-term debt, fair value	303,400		305,600
Long-term debt, carrying amount	297,616		297,118
Convertible Notes [Member]
Long-term Debt
Long-term debt, fair value	208,900
Long-term debt, carrying amount	148,606
Liability Component [Member] | Convertible Notes [Member]
Long-term Debt
Proceeds from Convertible Debt	$ 153,200

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets:
Restricted cash	$ 49,452	$ 45,853
Fair Value Measured On A Recurring Basis [Member] | Quoted Prices In Active Markets (Level 1) [Member]
Assets:
Cash and cash equivalents	93,622	75,452
Restricted cash	49,452	45,853
Investments in lieu of retainage	41,080	35,350
Total assets	184,154	156,655
Fair Value Measured On A Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Investments in lieu of retainage	6,124	6,216
Total assets	6,124	6,216
Liabilities:
Interest rate swap contract		45
Total liabilities		45
Carrying Value [Member] | Fair Value Measured On A Recurring Basis [Member]
Assets:
Cash and cash equivalents	93,622	75,452
Restricted cash	49,452	45,853
Investments in lieu of retainage	47,204	41,566
Total assets	$ 190,278	162,871
Liabilities:
Interest rate swap contract		45
Total liabilities		$ 45

Business Segments (Narrative) (

Business Segments (Narrative) (Details) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2016USD ($)$ / shares	Mar. 31, 2016USD ($)$ / shares	Jun. 30, 2015USD ($)$ / shares	Jun. 30, 2016USD ($)segment$ / shares	Jun. 30, 2015USD ($)$ / shares
Segment Reporting Information [Line Items]
Number of reportable segments | segment				3
Income from construction operations	$ 48,829		$ 30,881	$ 88,951	$ 50,965
Net income	$ 21,361		$ 11,777	$ 36,760	$ 16,903
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) | $ / shares	$ 0.43		$ 0.24	$ 0.74	$ 0.34
Depreciation and amortization				$ 29,956	$ 20,389
Tutor Perini Corporation [Member]
Segment Reporting Information [Line Items]
Income from construction operations	$ 15,830		$ 18,799	16,608	20,223
Net income	21,361		11,777	36,760	16,903
Depreciation and amortization				12,244	4,919
Building [Member]
Segment Reporting Information [Line Items]
Income from construction operations	13,223		(12,592)	25,673	(14,870)
Depreciation and amortization	500		800	1,100	1,500
Building [Member] | Scenario Unfavorable Adjustment [Member]
Segment Reporting Information [Line Items]
Income from construction operations			$ (14,700)		$ 17,700
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) | $ / shares			$ (0.17)		$ 0.21
Civil [Member]
Segment Reporting Information [Line Items]
Income from construction operations	45,056		$ 46,329	78,721	$ 76,923
Depreciation and amortization	12,400		5,600	20,500	11,100
Specialty Contractors [Member]
Segment Reporting Information [Line Items]
Income from construction operations	5,413		13,743	14,826	24,267
Depreciation and amortization	1,300		1,400	2,600	2,700
Corporate [Member]
Segment Reporting Information [Line Items]
Income from construction operations	(14,863)		(16,599)	(30,269)	(35,355)
Depreciation and amortization	$ 2,900		$ 2,600	$ 5,800	$ 5,100
Completed Project [Member] | Scenario Favorable Adjustment [Member]
Segment Reporting Information [Line Items]
Income from construction operations		$ 14,000
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) | $ / shares		$ 0.17
Substatially Completed Project [Member] | Scenario Unfavorable Adjustment (b) [Member]
Segment Reporting Information [Line Items]
Income from construction operations		$ 13,800
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) | $ / shares		$ 0.17
Five Star Electric [Member] | Specialty Contractors [Member] | Scenario Favorable Adjustment [Member]
Segment Reporting Information [Line Items]
Income from construction operations		$ 3,000
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) | $ / shares		$ 0.04

Business Segments (Reportable S

Business Segments (Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Business Segments [Line items]
Revenue	$ 1,308,130	$ 1,312,438	$ 2,393,499	$ 2,378,903
Income from construction operations	48,829	30,881	88,951	50,965
Other income (expense), net	2,485	379	3,166	(97)
Interest expense	(15,534)	(11,268)	(29,614)	(22,671)
INCOME BEFORE INCOME TAXES	35,780	19,992	62,503	28,197
Elimination Of Intersegment Revenues [Member]
Business Segments [Line items]
Revenue	(61,859)	(59,967)	(113,758)	(95,458)
Operating segment [Member]
Business Segments [Line items]
Revenue	1,369,989	1,372,405	2,507,257	2,474,361
Reportable Segments [Member]
Business Segments [Line items]
Revenue	1,308,130	1,312,438	2,393,499	2,378,903
Income from construction operations	63,692	47,480	119,220	86,320
Reportable Segments [Member] | Elimination Of Intersegment Revenues [Member]
Business Segments [Line items]
Revenue	(61,859)	(59,967)	(113,758)	(95,458)
Reportable Segments [Member] | Operating segment [Member]
Business Segments [Line items]
Revenue	1,369,989	1,372,405	2,507,257	2,474,361
Civil [Member]
Business Segments [Line items]
Revenue	465,707	534,180	801,565	908,854
Income from construction operations	45,056	46,329	78,721	76,923
Civil [Member] | Elimination Of Intersegment Revenues [Member]
Business Segments [Line items]
Revenue	(39,223)	(39,180)	(70,866)	(57,382)
Civil [Member] | Operating segment [Member]
Business Segments [Line items]
Revenue	504,930	573,360	872,431	966,236
Building [Member]
Business Segments [Line items]
Revenue	523,521	451,404	991,259	850,233
Income from construction operations	13,223	(12,592)	25,673	(14,870)
Building [Member] | Elimination Of Intersegment Revenues [Member]
Business Segments [Line items]
Revenue	(22,636)	(20,843)	(42,892)	(38,076)
Building [Member] | Operating segment [Member]
Business Segments [Line items]
Revenue	546,157	472,247	1,034,151	888,309
Specialty Contractors [Member]
Business Segments [Line items]
Revenue	318,902	326,854	600,675	619,816
Income from construction operations	5,413	13,743	14,826	24,267
Specialty Contractors [Member] | Elimination Of Intersegment Revenues [Member]
Business Segments [Line items]
Revenue		56
Specialty Contractors [Member] | Operating segment [Member]
Business Segments [Line items]
Revenue	318,902	326,798	600,675	619,816
Corporate [Member]
Business Segments [Line items]
Income from construction operations	$ (14,863)	$ (16,599)	$ (30,269)	$ (35,355)

Business Segments (Reconciliati

Business Segments (Reconciliation of Segment Results to Consolidated Income Before Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income from construction operations	$ 48,829	$ 30,881	$ 88,951	$ 50,965
Other income (expense), net	2,485	379	3,166	(97)
Interest expense	(15,534)	(11,268)	(29,614)	(22,671)
INCOME BEFORE INCOME TAXES	35,780	19,992	62,503	28,197
Tutor Perini Corporation [Member]
Income from construction operations	15,830	18,799	16,608	20,223
Other income (expense), net	1,568	(187)	946	(1,977)
Interest expense	(15,396)	(10,413)	(28,880)	(20,955)
INCOME BEFORE INCOME TAXES	$ 22,345	$ 14,785	$ 32,096	$ 15,817

Business Segments (Schedule of

Business Segments (Schedule of Assets by Segment) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Reportable segment information
Total Assets	$ 4,195,585	$ 4,036,677
Civil [Member]
Reportable segment information
Total Assets	2,044,060	1,964,038
Building [Member]
Reportable segment information
Total Assets	882,465	795,851
Specialty Contractors [Member]
Reportable segment information
Total Assets	803,073	860,285
Corporate [Member]
Reportable segment information
Total Assets	$ 465,987	$ 416,503

Employee Pension Plans (Details

Employee Pension Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Summary of net periodic benefit cost
Interest cost	$ 1,053	$ 1,011	$ 2,106	$ 2,022
Expected return on plan assets	(1,203)	(1,256)	(2,406)	(2,512)
Amortization of net loss	427	1,460	854	2,920
Other	150		300
Net periodic benefit cost	$ 427	$ 1,215	854	2,430
Company contribution			800	$ 1,400
Expected contributions remainder of current fiscal year			$ 1,000

Separate Financial Informatio50

Separate Financial Information of Subsidiary Guarantors of Indebtedness (Condensed Consolidating Statement of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
REVENUE	$ 1,308,130	$ 1,312,438	$ 2,393,499	$ 2,378,903
COST OF OPERATIONS	(1,198,360)	(1,213,818)	(2,178,637)	(2,189,524)
GROSS PROFIT	109,770	98,620	214,862	189,379
General and administrative expenses	(60,941)	(67,739)	(125,911)	(138,414)
INCOME FROM CONSTRUCTION OPERATIONS	48,829	30,881	88,951	50,965
Other (Expense) Income, net	2,485	379	3,166	(97)
Interest Expense	(15,534)	(11,268)	(29,614)	(22,671)
INCOME BEFORE INCOME TAXES	35,780	19,992	62,503	28,197
Benefit (Provision) for Income Taxes	(14,419)	(8,215)	(25,743)	(11,294)
NET INCOME	21,361	11,777	36,760	16,903
Other Comprehensive Income:
Defined benefit pension plan adjustments	324		571
Foreign currency translation adjustment	(258)	(1,146)	672	(1,734)
Change in fair value of investments	(153)	(74)	(145)	(84)
Change in fair value of interest rate swap	11	60	(24)	105
Total other comprehensive (loss) income, net of tax	(76)	(1,160)	1,074	(1,713)
TOTAL COMPREHENSIVE INCOME	21,285	10,617	37,834	15,190
Eliminations [Member]
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
REVENUE	(75,440)	(65,338)	(160,261)	(124,559)
COST OF OPERATIONS	75,440	65,338	160,261	124,559
Equity in Earnings of Subsidiaries	(20,343)	(6,586)	(43,422)	(18,526)
Other (Expense) Income, net	(463)		(463)
Interest Expense	463		463
INCOME BEFORE INCOME TAXES	(20,343)	(6,586)	(43,422)	(18,526)
NET INCOME	(20,343)	(6,586)	(43,422)	(18,526)
Other Comprehensive Income:
Other Comprehensive Income of Subsidiaries	411	1,220	(527)	1,818
Total other comprehensive (loss) income, net of tax	411	1,220	(527)	1,818
TOTAL COMPREHENSIVE INCOME	(19,932)	(5,366)	(43,949)	(16,708)
Tutor Perini Corporation [Member]
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
REVENUE	248,134	309,217	424,859	545,509
COST OF OPERATIONS	(214,264)	(265,129)	(368,553)	(474,962)
GROSS PROFIT	33,870	44,088	56,306	70,547
General and administrative expenses	(18,040)	(25,289)	(39,698)	(50,324)
INCOME FROM CONSTRUCTION OPERATIONS	15,830	18,799	16,608	20,223
Equity in Earnings of Subsidiaries	20,343	6,586	43,422	18,526
Other (Expense) Income, net	1,568	(187)	946	(1,977)
Interest Expense	(15,396)	(10,413)	(28,880)	(20,955)
INCOME BEFORE INCOME TAXES	22,345	14,785	32,096	15,817
Benefit (Provision) for Income Taxes	(984)	(3,008)	4,664	1,086
NET INCOME	21,361	11,777	36,760	16,903
Other Comprehensive Income:
Other Comprehensive Income of Subsidiaries	(411)	(1,220)	527	(1,818)
Defined benefit pension plan adjustments	324		571
Change in fair value of interest rate swap	11	60	(24)	105
Total other comprehensive (loss) income, net of tax	(76)	(1,160)	1,074	(1,713)
TOTAL COMPREHENSIVE INCOME	21,285	10,617	37,834	15,190
Guarantor Subsidiaries [Member]
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
REVENUE	1,134,967	1,065,766	2,121,328	1,950,869
COST OF OPERATIONS	(1,059,536)	(1,014,027)	(1,970,345)	(1,839,121)
GROSS PROFIT	75,431	51,739	150,983	111,748
General and administrative expenses	(42,438)	(41,985)	(85,275)	(87,151)
INCOME FROM CONSTRUCTION OPERATIONS	32,993	9,754	65,708	24,597
Other (Expense) Income, net	1,127	431	2,187	1,627
Interest Expense	(601)	(855)	(1,197)	(1,716)
INCOME BEFORE INCOME TAXES	33,519	9,330	66,698	24,508
Benefit (Provision) for Income Taxes	(13,410)	(4,121)	(27,470)	(9,817)
NET INCOME	20,109	5,209	39,228	14,691
Other Comprehensive Income:
Foreign currency translation adjustment	(258)	(1,146)	672	(1,734)
Change in fair value of investments	(153)	(74)	(145)	(84)
Total other comprehensive (loss) income, net of tax	(411)	(1,220)	527	(1,818)
TOTAL COMPREHENSIVE INCOME	19,698	3,989	39,755	12,873
Non-Guarantor Subsidiaries [Member]
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
REVENUE	469	2,793	7,573	7,084
GROSS PROFIT	469	2,793	7,573	7,084
General and administrative expenses	(463)	(465)	(938)	(939)
INCOME FROM CONSTRUCTION OPERATIONS	6	2,328	6,635	6,145
Other (Expense) Income, net	253	135	496	253
INCOME BEFORE INCOME TAXES	259	2,463	7,131	6,398
Benefit (Provision) for Income Taxes	(25)	(1,086)	(2,937)	(2,563)
NET INCOME	234	1,377	4,194	3,835
Other Comprehensive Income:
TOTAL COMPREHENSIVE INCOME	$ 234	$ 1,377	$ 4,194	$ 3,835

Separate Financial Informatio51

Separate Financial Information of Subsidiary Guarantors of Indebtedness (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
ASSETS
Cash and Cash Equivalents	$ 93,622	$ 75,452	$ 106,917	$ 135,583
Restricted Cash	49,452	45,853
Accounts Receivable	1,739,343	1,473,615
Costs and Estimated Earnings in Excess of Billings	811,406	905,175
Deferred Income Taxes	19,098	26,306
Other Current Assets	76,960	108,844
Total current assets	2,789,881	2,635,245
Property and Equipment, net	507,395	523,525
Other Assets:
GOODWILL	585,006	585,006
Intangible Assets, net	94,768	96,540
OTHER ASSETS	218,535	196,361
TOTAL ASSETS	4,195,585	4,036,677
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Maturities of Long-term Debt	120,256	88,917
Accounts Payable	968,193	937,464
Billings in Excess of Costs and Estimated Earnings	325,290	288,311
Accrued Expenses and Other Current Liabilities	171,150	159,016
Total current liabilities	1,584,889	1,473,708
Long-term Debt, less current maturities	680,265	728,767
Deferred Income Taxes	296,728	273,310
Other Long-term Liabilities	140,870	140,665
Contingencies and Commitments
Stockholders' Equity	1,492,833	1,420,227
TOTAL LIABILITIES AND STOCKHOLERS' EQUITY	4,195,585	4,036,677
Eliminations [Member]
ASSETS
Accounts Receivable	(183,119)	(146,745)
Costs and Estimated Earnings in Excess of Billings	(60,222)	(77,583)
Other Current Assets	(18,985)	(11,419)
Total current assets	(262,326)	(235,747)
Intercompany Notes and Receivables	(223,736)	(148,637)
Other Assets:
Investment in Subsidiaries	(2,142,018)	(1,962,983)
OTHER ASSETS	(5,857)	(5,723)
TOTAL ASSETS	(2,633,937)	(2,353,090)
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Maturities of Long-term Debt	(60,000)	(60,000)
Accounts Payable	(193,285)	(167,705)
Billings in Excess of Costs and Estimated Earnings	6,634	(5,711)
Accrued Expenses and Other Current Liabilities	(15,675)	(2,331)
Total current liabilities	(262,326)	(235,747)
Long-term Debt, less current maturities	(5,857)	(5,723)
Intercompany Notes and Advances Payable	(223,736)	(148,637)
Contingencies and Commitments
Stockholders' Equity	(2,142,018)	(1,962,983)
TOTAL LIABILITIES AND STOCKHOLERS' EQUITY	(2,633,937)	(2,353,090)
Tutor Perini Corporation [Member]
ASSETS
Cash and Cash Equivalents	56,744	47,196	63,130	75,087
Restricted Cash	3,261	3,369
Accounts Receivable	456,016	358,437
Costs and Estimated Earnings in Excess of Billings	97,028	114,580
Deferred Income Taxes	8,898	2,255
Other Current Assets	49,217	60,119
Total current assets	671,164	585,956
Property and Equipment, net	94,170	105,306
Other Assets:
Investment in Subsidiaries	2,142,018	1,962,983
OTHER ASSETS	112,252	58,722
TOTAL ASSETS	3,019,604	2,712,967
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Maturities of Long-term Debt	153,959	107,283
Accounts Payable	233,052	211,679
Billings in Excess of Costs and Estimated Earnings	114,649	89,303
Accrued Expenses and Other Current Liabilities	57,494	6,145
Total current liabilities	559,154	414,410
Long-term Debt, less current maturities	610,080	653,669
Deferred Income Taxes	62,562
Other Long-term Liabilities	108,004	106,588
Intercompany Notes and Advances Payable	186,971	118,073
Contingencies and Commitments
Stockholders' Equity	1,492,833	1,420,227
TOTAL LIABILITIES AND STOCKHOLERS' EQUITY	3,019,604	2,712,967
Guarantor Subsidiaries [Member]
ASSETS
Cash and Cash Equivalents	36,628	26,892	30,780	36,764
Restricted Cash	2,958	3,283
Accounts Receivable	1,377,164	1,179,919
Costs and Estimated Earnings in Excess of Billings	774,448	868,026
Deferred Income Taxes	10,200	21,356
Other Current Assets	37,705	48,482
Total current assets	2,239,103	2,147,958
Property and Equipment, net	409,290	414,143
Intercompany Notes and Receivables	223,736	148,637
Other Assets:
GOODWILL	585,006	585,006
Intangible Assets, net	94,768	96,540
OTHER ASSETS	86,405	128,094
TOTAL ASSETS	3,638,308	3,520,378
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Maturities of Long-term Debt	26,297	41,634
Accounts Payable	923,075	890,268
Billings in Excess of Costs and Estimated Earnings	201,483	203,003
Accrued Expenses and Other Current Liabilities	91,616	115,392
Total current liabilities	1,242,471	1,250,297
Long-term Debt, less current maturities	76,042	80,821
Deferred Income Taxes	211,828	273,310
Other Long-term Liabilities	2,312	3,278
Contingencies and Commitments
Stockholders' Equity	2,105,655	1,912,672
TOTAL LIABILITIES AND STOCKHOLERS' EQUITY	3,638,308	3,520,378
Non-Guarantor Subsidiaries [Member]
ASSETS
Cash and Cash Equivalents	250	1,364	$ 13,007	$ 23,732
Restricted Cash	43,233	39,201
Accounts Receivable	89,282	82,004
Costs and Estimated Earnings in Excess of Billings	152	152
Deferred Income Taxes		2,695
Other Current Assets	9,023	11,662
Total current assets	141,940	137,078
Property and Equipment, net	3,935	4,076
Other Assets:
OTHER ASSETS	25,735	15,268
TOTAL ASSETS	171,610	156,422
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts Payable	5,351	3,222
Billings in Excess of Costs and Estimated Earnings	2,524	1,716
Accrued Expenses and Other Current Liabilities	37,715	39,810
Total current liabilities	45,590	44,748
Deferred Income Taxes	22,338
Other Long-term Liabilities	30,554	30,799
Intercompany Notes and Advances Payable	36,765	30,564
Contingencies and Commitments
Stockholders' Equity	36,363	50,311
TOTAL LIABILITIES AND STOCKHOLERS' EQUITY	$ 171,610	$ 156,422

Separate Financial Informatio52

Separate Financial Information of Subsidiary Guarantors of Indebtedness (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Cash Flows from Operating Activities:
Net income (loss)	$ 21,361	$ 11,777	$ 36,760	$ 16,903
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization			29,956	20,389
Stock-based compensation expense			6,959	13,324
Excess income tax benefit from stock-based compensation				(162)
Change in debt discount and deferred debt issuance costs			3,348	1,045
Deferred income taxes			(371)	(177)
Loss (gain) on sale of property and equipment			204	(313)
Other long-term liabilities			(3,811)	42
Other non-cash items			1,200	(3,259)
Changes in other components of working capital			(69,669)	(79,550)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES			4,576	(31,758)
Cash Flows from Investing Activities:
Acquisition of property and equipment excluding financed purchases			(8,681)	(29,544)
Proceeds from sale of property and equipment			1,092	1,122
Change in restricted cash			(3,599)	4,877
NET CASH USED IN INVESTING ACTIVITIES			(11,188)	(23,545)
Cash Flows from Financing Activities:
Proceeds from issuance of convertible notes			200,000
Proceeds from debt			711,092	473,490
Repayment of debt			(871,654)	(446,239)
Excess income tax benefit from stock-based compensation				162
Issuance of common stock and effect of cashless exercise				(776)
Debt issuance costs			(14,656)
NET CASH PROVIDED BY FINANCING ACTIVITIES			24,782	26,637
Net increase (decrease) in cash and cash equivalents			18,170	(28,666)
Cash and cash equivalents at beginning of year			75,452	135,583
Cash and cash equivalents at end of period	93,622	106,917	93,622	106,917
Eliminations [Member]
Cash Flows from Operating Activities:
Net income (loss)	(20,343)	(6,586)	(43,422)	(18,526)
Adjustments to reconcile net income to net cash from operating activities:
Equity in earnings of subsidiaries	20,343	6,586	43,422	18,526
Cash Flows from Investing Activities:
Increase (decrease) in intercompany advances			(71,487)	101,660
NET CASH USED IN INVESTING ACTIVITIES			(71,487)	101,660
Cash Flows from Financing Activities:
Increase (decrease) in intercompany advances			71,487	(101,660)
NET CASH PROVIDED BY FINANCING ACTIVITIES			71,487	(101,660)
Tutor Perini Corporation [Member]
Cash Flows from Operating Activities:
Net income (loss)	21,361	11,777	36,760	16,903
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization			12,244	4,919
Equity in earnings of subsidiaries	(20,343)	(6,586)	(43,422)	(18,526)
Stock-based compensation expense			6,959	13,324
Excess income tax benefit from stock-based compensation				(162)
Change in debt discount and deferred debt issuance costs			3,348	1,045
Deferred income taxes			(261)	(177)
Loss (gain) on sale of property and equipment			138	29
Other long-term liabilities			(2,600)	(56)
Other non-cash items			(240)	1,881
Changes in other components of working capital			24,144	(159,846)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES			37,070	(140,666)
Cash Flows from Investing Activities:
Acquisition of property and equipment excluding financed purchases			(1,410)
Proceeds from sale of property and equipment			164	(21,505)
Change in restricted cash			108
NET CASH USED IN INVESTING ACTIVITIES			(1,138)	(21,505)
Cash Flows from Financing Activities:
Proceeds from issuance of convertible notes			200,000
Proceeds from debt			705,708	473,362
Repayment of debt			(846,019)	(427,107)
Excess income tax benefit from stock-based compensation				162
Issuance of common stock and effect of cashless exercise				(776)
Debt issuance costs			(14,656)
Increase (decrease) in intercompany advances			(71,417)	104,573
NET CASH PROVIDED BY FINANCING ACTIVITIES			(26,384)	150,214
Net increase (decrease) in cash and cash equivalents			9,548	(11,957)
Cash and cash equivalents at beginning of year			47,196	75,087
Cash and cash equivalents at end of period	56,744	63,130	56,744	63,130
Guarantor Subsidiaries [Member]
Cash Flows from Operating Activities:
Net income (loss)	20,109	5,209	39,228	14,691
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization			17,571	15,333
Deferred income taxes			(110)
Loss (gain) on sale of property and equipment			66	(342)
Other long-term liabilities			(966)	98
Other non-cash items			1,440	(5,140)
Changes in other components of working capital			(92,711)	96,590
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES			(35,482)	121,230
Cash Flows from Investing Activities:
Acquisition of property and equipment excluding financed purchases			(7,271)	(29,516)
Proceeds from sale of property and equipment			928	22,627
Increase (decrease) in intercompany advances			71,487	(101,660)
Change in restricted cash			325	339
NET CASH USED IN INVESTING ACTIVITIES			65,469	(108,210)
Cash Flows from Financing Activities:
Proceeds from debt			5,384	128
Repayment of debt			(25,635)	(19,132)
NET CASH PROVIDED BY FINANCING ACTIVITIES			(20,251)	(19,004)
Net increase (decrease) in cash and cash equivalents			9,736	(5,984)
Cash and cash equivalents at beginning of year			26,892	36,764
Cash and cash equivalents at end of period	36,628	30,780	36,628	30,780
Non-Guarantor Subsidiaries [Member]
Cash Flows from Operating Activities:
Net income (loss)	234	1,377	4,194	3,835
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization			141	137
Other long-term liabilities			(245)
Changes in other components of working capital			(1,102)	(16,294)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES			2,988	(12,322)
Cash Flows from Investing Activities:
Acquisition of property and equipment excluding financed purchases				(28)
Change in restricted cash			(4,032)	4,538
NET CASH USED IN INVESTING ACTIVITIES			(4,032)	4,510
Cash Flows from Financing Activities:
Increase (decrease) in intercompany advances			(70)	(2,913)
NET CASH PROVIDED BY FINANCING ACTIVITIES			(70)	(2,913)
Net increase (decrease) in cash and cash equivalents			(1,114)	(10,725)
Cash and cash equivalents at beginning of year			1,364	23,732
Cash and cash equivalents at end of period	$ 250	$ 13,007	$ 250	$ 13,007