Tutor Perini (TPC) 10-Q 7 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 03, 2017
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, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		49,781,010
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	tpc

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
REVENUE	$ 1,247,274	$ 1,308,130	$ 2,364,635	$ 2,393,499
COST OF OPERATIONS	(1,144,436)	(1,198,360)	(2,159,078)	(2,178,637)
GROSS PROFIT	102,838	109,770	205,557	214,862
General and administrative expenses	(68,793)	(60,941)	(134,495)	(125,911)
INCOME FROM CONSTRUCTION OPERATIONS	34,045	48,829	71,062	88,951
Other income, net	40,990	2,485	41,406	3,166
Interest expense	(22,519)	(15,534)	(38,083)	(29,614)
INCOME BEFORE INCOME TAXES	52,516	35,780	74,385	62,503
Provision for income taxes	(19,883)	(14,419)	(27,988)	(25,743)
NET INCOME	32,633	21,361	46,397	36,760
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(2,537)		(2,537)
NET INCOME ATTRIBUTABLE TO TUTOR PERINI CORPORATION	$ 30,096	$ 21,361	$ 43,860	$ 36,760
BASIC EARNINGS PER COMMON SHARE (in dollars per share)	$ 0.61	$ 0.43	$ 0.89	$ 0.75
DILUTED EARNINGS PER COMMON SHARE (in dollars per share)	$ 0.59	$ 0.43	$ 0.86	$ 0.74
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING:
BASIC (in shares)	49,735	49,131	49,510	49,105
DILUTED (in shares)	50,755	49,561	50,853	49,423

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
NET INCOME	$ 32,633	$ 21,361	$ 46,397	$ 36,760
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Defined benefit pension plan adjustments	269	324	537	571
Foreign currency translation adjustments	649	(258)	595	672
Unrealized loss in fair value of investments	(3)	(153)	(24)	(145)
Unrealized gain (loss) in fair value of interest rate swap		11		(24)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	915	(76)	1,108	1,074
COMPREHENSIVE INCOME	33,548	21,285	47,505	37,834
LESS: COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(2,537)		(2,537)
COMPREHENSIVE INCOME ATTRIBUTABLE TO TUTOR PERINI CORPORATION	$ 31,011	$ 21,285	$ 44,968	$ 37,834

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents ($37,445 and $0 related to variable interest entities ("VIEs"))	$ 172,927	$ 146,103
Restricted cash	52,051	50,504
Accounts receivable ("AR") including retainage of $602,581 and $569,391 (AR of $56,912 and $0 related to VIEs)	1,838,359	1,743,300
Costs and estimated earnings in excess of billings	850,634	831,826
Other current assets	77,736	66,023
Total current assets	2,991,707	2,837,756
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $339,045 and $313,783	456,001	477,626
GOODWILL	585,006	585,006
INTANGIBLE ASSETS, NET	91,226	92,997
OTHER ASSETS	40,926	45,235
TOTAL ASSETS	4,164,866	4,038,620
CURRENT LIABILITIES:
Current maturities of long-term debt	30,333	85,890
Accounts payable ("AP") including retainage of $274,045 and $258,294 (AP of $57,888 and $0 related to VIEs)	899,284	994,016
Billings in excess of costs and estimated earnings ($30,293 and $0 related to VIEs)	339,808	331,112
Accrued expenses and other current liabilities	176,148	107,925
Total current liabilities	1,445,573	1,518,943
LONG-TERM DEBT, less current maturities, net of unamortized discounts and debt issuance costs totaling $57,434 and $56,072	832,327	673,629
DEFERRED INCOME TAXES	131,292	131,007
OTHER LONG-TERM LIABILITIES	155,810	162,018
TOTAL LIABILITIES	2,565,002	2,485,597
CONTINGENCIES AND COMMITMENTS (NOTE 7)
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 49,760,256 and 49,211,353 shares	49,760	49,211
Additional paid-in capital	1,075,637	1,075,600
Retained earnings	517,485	473,625
Accumulated other comprehensive loss	(44,305)	(45,413)
Total Stockholders' Equity	1,598,577	1,553,023
Noncontrolling interests	1,287
TOTAL EQUITY	1,599,864	1,553,023
TOTAL LIABILITIES AND EQUITY	$ 4,164,866	$ 4,038,620

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Cash and cash equivalents ($37,445 and $0 related to variable interest entities ("VIEs"))	$ 172,927	$ 146,103
Accounts receivable ("AR")	1,838,359	1,743,300
Accounts receivable, retainage	602,581	569,391
Accumulated depreciation	339,045	313,783
Accounts payable ("AP")	899,284	994,016
Accounts payable, retainage	274,045	258,294
Billings in excess of costs and estimated earnings	339,808	331,112
Unamortized discount and debt issuance cost	$ 57,434	$ 56,072
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	49,760,256	49,211,353
Common stock, shares outstanding	49,760,256	49,211,353
Variable Interest Entity, Primary Beneficiary [Member]
Cash and cash equivalents ($37,445 and $0 related to variable interest entities ("VIEs"))	$ 37,445	$ 0
Accounts receivable ("AR")	56,912	0
Accounts payable ("AP")	57,888	0
Billings in excess of costs and estimated earnings	$ 30,293	$ 0

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities:
Net income	$ 46,397	$ 36,760
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation	28,987	28,185
Amortization of intangible assets	1,771	1,771
Share-based compensation expense	10,420	6,959
Change in debt discounts and deferred debt issuance costs	11,950	3,348
Deferred income taxes	(1)	(371)
(Gain) loss on sale of property and equipment	(349)	204
Other long-term liabilities	(2,801)	(3,811)
Other non-cash items	1,785	1,200
Changes in other components of working capital	(132,779)	(69,669)
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	(34,620)	4,576
Cash Flows from Investing Activities:
Acquisition of property and equipment excluding financed purchases	(8,183)	(8,681)
Proceeds from sale of property and equipment	1,336	1,092
Investments in securities restricted in use	(9,297)
Change in restricted cash	(1,547)	(3,599)
NET CASH USED IN INVESTING ACTIVITIES	(17,691)	(11,188)
Cash Flows from Financing Activities:
Proceeds from issuance of convertible notes		200,000
Proceeds from debt	1,276,457	711,092
Repayment of debt	(1,171,954)	(871,654)
Issuance of common stock and effect of cashless exercise	(10,809)
Distributions paid to noncontrolling interests	(2,500)
Contributions from noncontrolling interests	1,250
Debt issuance costs	(13,309)	(14,656)
NET CASH PROVIDED BY FINANCING ACTIVITIES	79,135	24,782
Net increase in cash and cash equivalents	26,824	18,170
Cash and cash equivalents at beginning of period	146,103	75,452
Cash and cash equivalents at end of period	$ 172,927	$ 93,622

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
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, 2016. The results of operations for the three and six months ended June 30, 2017 may not be indicative of the results that will be achieved for the full year ending December 31, 2017.  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, 2017 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, 2017
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	(2) Recent Accounting Pronouncements  In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) , as amended by subsequent ASUs (collectively, “ASU 2014-09”). ASU 2014-09 amends the existing accounting standards for revenue recognition and establishes principles for recognizing revenue upon the transfer of promised goods or services to customers based on the expected consideration to be received in exchange for those goods or services. The guidance will be effective for the Company as of January 1, 2018. The amendments may be applied retrospectively to each prior period presented or with the cumulative effect recognized as of the date of initial application (modified retrospective method). The Company expects to adopt this new standard using the modified retrospective method. The Company is currently reviewing contracts in order to determine the impact, if any, that the adoption of ASU 2014-09 will have on its consolidated financial statements. The Company is also identifying and implementing changes to the Company’s business processes, systems and internal controls to support the adoption of this new standard and the related disclosure requirements. A number of industry-specific implementation issues are still unresolved, and the final resolution of certain of these issues could impact the Company’s current accounting policies and/or revenue recognition patterns. The Company will continue its evaluation of ASU 2014-09 (including how it may impact future contracts, as well as any new or emerging interpretations of the standard) through the date of adoption.  In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting . This ASU clarifies the scope of modification accounting under Topic 718 with respect to changes to the terms or conditions of a share-based payments award. Under this new guidance, modification accounting would not apply if a change to an award does not affect the total current fair value, vesting conditions or the classification of the award. This guidance will be effective for the Company as of January 1, 2018, with early adoption permitted. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.

Earnings Per Common Share (EPS)

Earnings Per Common Share (EPS)	6 Months Ended
	Jun. 30, 2017
Earnings Per Common Share (EPS) [Abstract]
Earnings Per Common Share (EPS)	(3) Earnings Per Common Share (EPS)  Basic EPS and diluted EPS are calculated by dividing net income attributable to Tutor Perini Corporation by the following: for basic EPS, the weighted-average number of common shares outstanding during the period; and for diluted EPS, the sum of the weighted-average number of both outstanding common shares and potentially dilutive securities, which for the Company can include restricted stock units, unexercised stock options and the Convertible Notes, as defined in Note 6. The Company calculates the effect of these potentially dilutive securities using the treasury stock method.     Three Months Ended June 30, Six Months Ended June 30,  (in thousands, except per common share amounts) 2017 2016 2017 2016  Net income attributable to Tutor Perini Corporation $ 30,096 $ 21,361 $ 43,860 $ 36,760   Weighted-average common shares outstanding, basic 49,735 49,131 49,510 49,105  Effect of dilutive restricted stock units and stock options 1,020 430 1,343 318  Weighted-average common shares outstanding, diluted 50,755 49,561 50,853 49,423   Earnings per common share:  Basic earnings per common share $ 0.61 $ 0.43 $ 0.89 $ 0.75  Diluted earnings per common share $ 0.59 $ 0.43 $ 0.86 $ 0.74   Anti-dilutive shares not included above 353 1,704 672 1,704  With regard to diluted EPS and the impact of the Convertible Notes 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.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Taxes [Abstract]
Income Taxes	(4 ) Income Taxes  The Company’s effective income tax rate for the three and six months ended June 30, 2017 was 37.9% and 37.6% , respectively, compared to 40.3% and 41.2% for the three and six months ended June 30, 2016, respectively. The effective tax rate for the three months ended June 30, 2017 was favorably impacted by earnings attributable to noncontrolling interests for which income taxes are not the responsibility of the Company . The effective tax rate for the six months ended June 30, 2017 was favorably impacted by earnings attributable to noncontrolling interests, reductions in estimated non-deductible expenses and tax benefits associated with share-based compensation. During the first quarter of 2017, t he Company recognized tax benefits associated with share-based compensation under the provisions of ASU 2016-09, as discussed in Note 9. This tax benefit is the result of a greater tax deduction for share-based compensation expense for awards that vested in the first quarter of 2017 relative to the share-based compensation expense recognized under GAAP for these same awards. The effective tax rate for the second quarter of 2016 was favorably impacted by adjustments related to uncertain tax benefits. The effective rate for the first half of 2016 reflects the favorable impact of the uncertain tax benefit adjustments, as well as the unfavorable impact of various discrete items, including certain state tax rate changes on deferred taxes. 

Costs And Estimated Earnings In

Costs And Estimated Earnings In Excess Of Billings	6 Months Ended
	Jun. 30, 2017
Costs and estimated earnings in excess of billings [Abstract]
Costs and Estimated Earnings in Excess of Billings	(5 ) Costs and Estimated Earnings in Excess of Billings  Costs and estimated earnings in excess of billings, as reported on the Condensed Consolidated Balance Sheet s , consist of the following:      As of June 30, As of December 31,  (in thousands) 2017 2016  Claims $ 486,067 $ 477,425  Unapproved change orders 263,130 207,475  Other unbilled costs and profits 101,437 146,926  Total costs and estimated earnings in excess of billings $ 850,634 $ 831,826  Claims and unapproved change orders are billable upon the agreement and resolution between the contractual parties and after the execution of contractual amendments. Increases in claims and unapproved change orders typically result from costs being incurred against existing or new positions where recovery is concluded to be both probable and reliably estimable; decreases normally result from resolutions and subsequent billings. Other unbilled costs and profits are billable in accordance with the billing terms of each of the existing contractual arrangements and, as such, the timing of contract billing cycles can cause fluctuations in the balance of unbilled costs and profits. Ultimate resolution of other unbilled costs and profits typically involves the passage of time and, often, incremental progress toward contractual requirements or milestones.

Financial Commitments

Financial Commitments	6 Months Ended
	Jun. 30, 2017
Financial Commitments [Abstract]
Financial Commitments	(6 ) Financial Commitments  Long-Term Debt  Long-term debt consisted of the following as of the dates of the Condensed Consolidated Balance Sheets presented:      As of June 30, As of December 31,  (in thousands) 2017 2016  2017 Senior Notes $ 492,360 $ —  2017 Credit Facility 118,160 —  2010 Senior Notes — 298,120  2014 Revolver — 147,990  Term Loan — 54,650  Convertible Notes 157,046 152,668  Equipment financing, mortgages and acquisition-related notes 89,311 101,558  Other indebtedness 5,783 4,533  Total debt 862,660 759,519  Less – current maturities (30,333) (85,890)  Long-term debt, net $ 832,327 $ 673,629  The following table reconciles the outstanding debt balance to the reported debt balances as of June 30, 2017 and December 31, 2016:      As of June 30, 2017 As of December 31, 2016  (in thousands) Outstanding Long-Term Debt Unamortized Discounts and Issuance Costs Long-Term Debt, as reported Outstanding Long-Term Debt Unamortized Discounts and Issuance Costs Long-Term Debt, as reported  2017 Senior Notes $ 500,000 $ (7,640) $ 492,360 $ — $ — $ —  2017 Credit Facility 125,000 (6,840) 118,160 — — —  2010 Senior Notes — — — 300,000 (1,880) 298,120  2014 Revolver — — — 152,500 (4,510) 147,990  Term Loan — — — 57,000 (2,350) 54,650  Convertible Notes 200,000 (42,954) 157,046 200,000 (47,332) 152,668  Debt Transactions  2017 Senior Notes  On April 20 , 2017, the Company issued $500 million in aggregate principal amount of 6.875% Senior Notes due 2025 (the “2017 Senior Notes”) in a private placement offering. Interest on the 2017 Senior Notes is payable in arrears semi-annually on May 1 and November 1 of each year, beginning on November 1, 2017.  Prior to May 1, 2020, the Company may redeem the 2017 Senior Notes at a redemption price equal to 100% of their principal amount plus a “make whole” premium described in the indenture. In addition, prior to May 1, 2020, the Company may redeem up to 40% of the original aggregate principal amount of the notes at a redemption price of 106.875% of their principal amount with the proceeds received by the Company from any equity offering. After May 1, 2020, the Company may redeem the 2017 Senior Notes at specified redemption prices described in the indenture. Upon a change of control, holders of the 2017 Senior Notes may require the Company to repurchase all or part of the 2017 Senior Notes at 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.  The 2017 Senior Notes are senior unsecured obligations of the Company and are guaranteed by substantially all of the Company’s existing and future subsidiaries that also guarantee obligations under the Company’s 2017 Credit Facility, as defined below. In addition, the indenture for the 2017 Senior Notes provides for customary covenants, including restrictions on the payment of dividends and share repurchases, and events of default.  2017 Credit Facility  On April 20, 2017 the Company entered into a credit agreement (the “2017 Credit Facility”) with SunTrust Bank as Administrative Agent, Swing Line Lender and L/C Issuer and a syndicate of other lenders. The 2017 Credit Facility provides for a $350 million revolving credit facility (the “2017 Revolver”) and a sublimit for the issuance of letters of credit and swingline loans up to the aggregate amount of $150 million and $10 million, respectively, both maturing on April 20, 2022 unless any of the Convertible Notes, as defined below, are outstanding on December 17, 2020, in which case all such borrowings will mature on December 17, 2020 (subject to certain further exceptions). In addition, the 2017 Credit Facility permits additional borrowings in an aggregate amount of $150 million, which can be in the form of increased capacity on the 2017 Revolver or the establishment of one or more term loans.  Borrowings under the 2017 Revolver bear interest, at the Company’s option, at a rate equal to a margin over (a) the London Interbank Offered Rate (“LIBOR”) plus a margin of between 1.50% and 3.00% (which is initially 2.50% ) or (b) a base rate (determined by reference to the highest of (i) the administrative agent’s prime lending rate, (ii) the federal funds effective rate plus 50 basis points, (iii) the LIBOR rate for a one-month interest period plus 100 basis points and (iv) 0% ), p lus a margin of between 0.50% and 2.00% (which is initially 1.50% ), in each case based on the Consolidated Leverage Ratio (as defi ned in the 2017 Credit Facility ). In addition to paying interest on outstanding principal under the 2017 Credit Agreement, the Company will pay a commitment fee to the lenders under the 2017 Revolver in respect of the unutilized commitments thereunder. The Company will pay customary letter of credit fees. If an event of default occurs and is continuing, the otherwise applicable margin and letter of credit fees will be increased by 2% per annum. For the three months ended June 30, 2017 the weighted-average annual interest rate on borrowings under the 2017 Revolver was approximately 3.7% .  The 2017 Credit Facility contains customary covenants for credit facilities of this type, including maximum consolidated leverage ratios ranging from 4.00 :1.00 to 3.25 :1.00 over the life of the facility and a minimum consolidated fixed charge coverage ratio of 1.25 :1.00. Substantially all of the Company’s subsidiaries unconditionally guarantee the obligations of the Company under the 2017 Credit Facility; additionally, the obligations are secured by a lien on all personal property of the Company and its subsidiaries guaranteeing these obligations.  As of June 30, 2017, there was $225 million available under the 2017 Revolver and the Company had not utilized the 2017 Credit Facility for letters of credit. The Company was in compliance with the financial covenants under the 2017 Credit Facility for the period ended June 30, 2017.  Repurchase and Redemption of 2010 Senior Notes and Termination of 2014 Credit Facility  On April 20, 2017, the Company used proceeds from the 2017 Senior Notes and 2017 Revolver to repurchase or redeem its 2010 Senior Notes, to pay off its Term Loan and 2014 Revolver, and to pay accrued but unpaid interest and fees. In addition, the indenture governing the 2010 Senior Notes was satisfied and discharged, and the Company terminated the 2014 Credit Facility.  2010 Senior Notes  In October 2010, the Company issued $300 million of 7.625% Senior Notes due November 1, 2018 (the “2010 Senior Notes”) in a private placement offering. As discussed above, on April 20, 2017, the Company repurchased or redeemed the 2010 Senior Notes in full and the related indenture was satisfied and discharged.  2014 Credit Facility  On June 5, 2014, the Company entered into a Sixth Amended and Restated Credit Agreement, as amended (the “2014 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 2014 Credit Facility provides for a $300 million revolving credit facility (the “2014 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 2014 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 ranging from 1.25% to 3.00% , contingent upon the latest Consolidated Leverage Ratio.  As discussed above, on April 20, 2017, the Company repaid all borrowings under the 2014 Credit Facility and concurrently terminated the facility .  Convertible Notes  On June 15, 2016, the Company issued $200 million of 2.875% Convertible Senior Notes due June 15, 2021 (the “Convertible Notes”) in a private placement offering. The Convertible Notes 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 semi-annually in June and December.  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) 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 rate of 33.0579 (or $39.32 ), 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 their Convertible Notes in connection with such a corporate event including customary conversion rate adjustments in connection with a “make-whole fundamental change” described in the indenture. 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 comm on stock. As of June 30, 2017, none of the conversion provisio ns of the Convertible Notes has been triggered.  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) 2017 2016 2017 2016  Cash interest expense:  Interest on 2017 Senior Notes $ 6,780 $ — $ 6,780 $ —  Interest on 2017 Credit Facility 1,491 — 1,491 —  Interest on 2010 Senior Notes 1,207 5,719 6,926 11,438  Interest on 2014 Credit Facility 746 7,051 4,455 12,389  Interest on Convertible Notes 1,437 240 2,875 240  Other interest 831 863 1,693 2,199  Cash portion of loss on extinguishment 1,913 — 1,913 —  Total cash interest expense 14,405 13,873 26,133 26,266   Non-cash interest expense: (a)  Amortization of debt issuance costs on 2017 Senior Notes 141 — 141 —  Amortization of debt issuance costs on 2017 Credit Facility 281 — 281 —  Amortization of discount and debt issuance costs on 2010 Senior Notes 54 250 308 498  Amortization of debt issuance costs on 2014 Credit Facility 285 1,071 1,703 2,510  Amortization of discount and debt issuance costs on Convertible Notes 2,214 340 4,378 340  Non-cash portion of loss on extinguishment 5,139 — 5,139 —  Total non-cash interest expense 8,114 1,661 11,950 3,348   Total cash and non-cash interest expense $ 22,519 $ 15,534 $ 38,083 $ 29,614 ____________________________________________________________________________________________________ (a) The combination of cash and non-cash interest expense produces effective interest rates that are higher than contractual rates. Accordingly, the effective interest rates for the period ended June 30, 2017 were 7.13% ; and 9.39% for the 2017 Senior Notes and the Convertible Notes, respectively.

Contingencies and Commitments

Contingencies and Commitments	6 Months Ended
	Jun. 30, 2017
Contingencies and Commitments [Abstract]
Contingencies and Commitments	(7 ) 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. Management believes that, based on current information and discussions with the Company’s legal counsel, the ultimate resolution of these matters is not expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows.  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 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 affirmative 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. Settlement discussions are ongoing.  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.  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.  In January 2017, the Court granted the City’s motion for summary judgment and dismissed the Company’s claim against the City of New York. The Company has filed a notice of appeal. The Court also granted the Company’s motion for summary judgment for release of retention plus interest from 2010 for an aggregate amount of approximately $1.1 million.  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 alle ged 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. 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. In May 2017, the Nevada Supreme Court issued its ruling on the appeal by WPH and its Sureties. With only minor adjustments, the Nevada Supreme Court affirmed the lower district court’s judgment, and following further proceedings in the lower district court, the anticipated final recovery to the Company is estimated to exceed $20 million, including interest and recovery of certain attorneys’ fees and costs. A hearing to account for the offset of the defect award is scheduled to be held in the third quarter of 2017.  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 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”).  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. In March 2017, the parties agreed to a proposed settlement. In July 2017, the government approved the settlement and payment is pending.  Management has made an estimate of the total anticipated recovery for the Claims, and such estimate is included in revenue recorded to date. The settlement did not have a material impact on the Company’s financial results for the three and six months ended June 30, 2017. To the extent new facts become known or the final recovery 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.  As of June 30, 2017, the Company cannot predict the ultimate outcome of the investigation and cannot reasonably estimate the potential loss or range of loss 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 Insurers 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 their 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. Hitachi, the manufacturer of the TBM, has also joined the case as a plaintiff for costs incurred to repair the damages to the TBM. Trial is scheduled for May 2018. Discovery is ongoing.  In March 2016, WSDOT filed a complaint against STP in Thurston County Superior Court for breach of contract alleging STP’s delays and failure to perform and declaratory relief concerning contract interpretation. STP filed its answer to WSDOT’s complaint and filed a counterclaim against WSDOT and against the manufacturer of the TBM. Trial is set for June 2018. Discovery is ongoing.  As of June 30, 2017, the Company has concluded that the potential for a material adverse financial impact due to the Insurers’ denial of coverage and WSDOT’s legal actions is neither probable nor re mote and the potential loss or range of loss is not reasonably estimable. With respect to STP’s claims against WSDOT and Hitachi, management has included an estimate of the total anticipated recovery, concluded to be both probable and reliably estimable, in receivables or costs and estimated earnings in excess of billings 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.

Other Income, Net

Other Income, Net	6 Months Ended
	Jun. 30, 2017
Other Income, Net [Abstract]
Other Income, Net	(8 ) Other Income, Net  On May 31, 2017, the Company entered into a settlement agreement with Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”), as successor in interest to Banc of America Securities LLC and Bank of America, N.A. (collectively “BofA”), to resolve the pending litigation between the Company and Merrill Lynch. The litigation, which was filed by the Company in 2011, related to the purchase by the Company of certain auction-rate securities from BofA.  On June 6, 2017, the Company received the $37.0 million cash settlement payment agreed to in the settlement agreement, and the pending litigation was dismissed with prejudice. Neither party made any admission of liability or wrongdoing, and the settlement agreement includes mutual releases of all claims and liabilities related to the subject matter of the pending litigation.  The Company recognized the settlement as a gain during the second quarter of 2017 and reported it as a component of other income, net in its Condensed Consolidated Statement of Operations. 

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2017
Share-Based Compensation [Abstract]
Share-Based Compensation	(9 ) Share-Based Compensation  On April 3, 2017, the Company adopted the Tutor Perini Corporation Incentive Compensation Plan (“Compensation Plan”), which was approved by the Company’s shareholders on May 24, 2017. The Compensation Plan provides for various types of share-based grants, including restricted and unrestricted stock units and stock options. Restricted and unrestricted stock units give the holder the right to exchange their stock units for shares of the Company’s common stock on a one-for-one basis. Stock options give the holder the right to purchase shares of the Company’s common stock at an exercise price equal to the fair value of the Company’s common stock on the date of the stock option’s award. Restricted stock units and stock options are usually subject to certain service and performance conditions and may not be sold or otherwise transferred until those restrictions have been satisfied; however, unrestricted stock units have no such restrictions. The term for stock options is limited to 10 years from the date of grant. The Compensation Plan allows for 2,335,000 shares of the Company’s common stock to be issued. As of June 30, 2017 there were 2,237,201 shares available to be granted under this plan.  The Company’s Amended and Restated Tutor Perini Corporation Long-Term Incentive Plan (“Incentive Plan”) is still active. The Incentive 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, 2016. As of June 30, 201 7, there w ere 405,529 shares authorized to be issued under the Incentive Plan; however, as discussed in the Company’s Definitive Proxy Statement (Schedule 14A) filed on April 13, 2017, the Company will not issue these shares. As of June 30, 2017, the Incentive Plan had an aggregate of 3,665,018 of restricted stock units and stock options from outstanding, historical awards that either have not vested or have vested but have not been exercised.  During the first six months of 2017 and 2016, the Company issued, in total from both the Compensation Plan and the Incentive Plan, the following share-based instruments: (1) restricted stock units of 665,000 and 483,387 at weighted-average per share prices of $ 30.48 and $ 19.14 , respectively; (2) stock options of 265,000 and 274,000 at weighted-average per share exercise prices of $ 23.47 and $16.20 , respectively; (3) unrestricted stock units of 99,155 and 64,603 at weighted- average per share prices of $ 26.26 and $21.67 , respectively.  Effective January 1, 2017, the Company prospectively adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718) , which simplifies several aspects of the accounting for share-based payment transactions, including the accounting for the income tax effect of share-based transactions and the forfeiture of share-based instruments. Upon this adoption, the Company elected an accounting policy requiring forfeitures of share-based instruments to be accounted for upon occurrence. As a result, the Company will recognize the full grant-date fair value of share-based awards throughout the requisite service and/or performance period, with any adjustments for forfeitures recognized only if and when a forfeiture occurs. During the six months ended June 30, 2017, 20,985 performance-based restricted stock units, with a weighted-average per share price of $ 23.91 , and 19,466 performance-based stock options, with a weighted-average per share exercise price of $ 26.56 , were forfeited; however, the impact of these forfeitures was not recognized during this period because it was previously recognized in the fourth quarter of 2016 in accordance with the provisions of ASC 718 before the adoption of ASU 2016-09. 

Employee Pension Plans

Employee Pension Plans	6 Months Ended
	Jun. 30, 2017
Employee Pension Plans [Abstract]
Employee Pension Plans	(1 0 ) 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 these plans 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, 201 7 and 201 6 :      Three Months Ended June 30, Six Months Ended June 30,  (in thousands) 2017 2016 2017 2016  Interest cost $ 975 $ 1,053 $ 1,950 $ 2,106  Expected return on plan assets (1,088) (1,203) (2,176) (2,406)  Amortization of net loss 456 427 912 854  Other 213 150 426 300  Net periodic benefit cost $ 556 $ 427 $ 1,112 $ 854  The Company contributed $1.4 million and $ 0.8 million to its defined benefit pension plan during the six months ended June 30, 201 7 and 201 6 , respectively, and expects to contribute an additional $1.2 million later in 2017 .

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Measurements [Abstract]
Fair Value Measurements	(11 ) Fair Value Measurements  The fair value hierarchy established by ASC 820, Fair Value Measurement , prioritizes the use of inputs used in valuation techniques into the following three levels:  · Level 1 inputs are observable quoted prices in active markets for identical assets or liabilities · Level 2 inputs are observable, either directly or indirectly, but are not Level 1 inputs · Level 3 inputs are unobservable  The following table presents, by fair value hierarchy level, the Company’s assets that are measured at fair value on a recurring basis, as of June 30, 2017 and December 31, 2016:      As of June 30, 2017 As of December 31, 2016  Fair Value Hierarchy Fair Value Hierarchy  (in thousands) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3  Cash and cash equivalents (a) $ 172,927 $ 172,927 $ — $ — $ 146,103 $ 146,103 $ — $ —  Restricted cash (a) 52,051 52,051 — — 50,504 50,504 — —  Investments in lieu of retainage (b) 56,024 52,992 3,032 — 51,266 46,855 4,411 —  Restricted investments (c) 9,281 — 9,281 — — — — —  Total $ 290,283 $ 277,970 $ 12,313 $ — $ 247,873 $ 243,462 $ 4,411 $ — ____________________________________________________________________________________________________ (a) Includes money market funds with original maturity dates of three months or less. (b) Investments in lieu of c ustomer retainage are included in accounts receivable and are comprised of money market funds and municipal bonds, th e majority of which are rated A 3 or better. The fair values of the money market funds are measured using quoted market prices; therefore, they are classified as Level 1 assets. The fair values of municipal bonds are measured using readily available pricing sources for comparable instruments; therefore, they are classified as Level 2 assets. (c) Restricted investments are held as collateral to secure our insurance related contingent obligations. The balances of these investments are held to maturity and are carried at their amortized cost of $9.3 million, which are included in other current assets. These restricted investments are comprised of various corporate bonds and bank notes which are rated A2 or better. The fair values of the corporate bonds and bank notes are measured using readily available sources for comparable instruments; therefore, they are classified as Level 2 assets.  The Company did not have material transfers between Levels 1 and 2 during the six months ended June 30, 2017 or 2016.  The carrying values of receivables, payables and other amounts arising out of normal contract activities, including retainage, which may be settled beyond one year, are estimated to approximate fair value. Of the Company’s long-term debt, the fair value of the 2017 Senior Note s as of June 30, 2017 was $526.3 million. The fair value of the 2010 Senior Notes as of December 31, 2016 was $302.6 million; the 2010 Senior Notes were redeemed in the second quarter of 2017, as discussed in Note 6. T he fair value of the Convertible Notes was $ 238.4 million and $228.4 million as of June 30, 2017 and December 31, 2016, respectively. The fair values of the 2017 Senior Notes, 2010 Senior Notes and Convertible Notes 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, 2017 and December 31, 2016 approximates fair value.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2017
Variable Interest Entity [Abstract]
Variable Interest Entities	(1 2 ) Variable Interest Entities  From time to time the Company may form joint ventures or partnerships with third parties for the execution of single contracts or projects. In accordance with ASC 810, Consolidation , the Company assesses its partnerships and joint ventures at inception to determine if any meet the qualifications of a variable interest entity (“VIE”). ASC 810 also requires the Company to determine whether it is the primary beneficiary of the VIE. The Company concludes that it is the primary beneficiary and consolidates the VIE if the Company has both (a) the power to direct the economically significant activities of the entity and (b) the obligation to absorb losses of, or the right to receive benefits from, the entity that could potentially be significant to the VIE as part of its evaluation methodology. The Company considers the contractual agreements that define the ownership structure, distribution of profits and losses, risks, responsibilities, indebtedness, voting rights and board representation of the respective parties in determining if the Company is the primary beneficiary. The Company also considers all parties that have direct or implicit variable interests when determining whether it is the primary beneficiary. As required by ASC 810, management’s assessment of whether the Company is the primary beneficiary of a VIE is continuously performed.  As of June 30, 2017, the Company had consolidated VIE-related assets of $94.4 million and liabilities of $88.2 million, all of which are classified as current and are included in the Company’s Condensed Consolidated Balance Sheet.  One large joint venture that the Company is consolidating was established to construct the Purple Line Segment 2 Expansion project, a $1.4 billion mass-transit project in Los Angeles, California. The Company has a 75% interest in the joint venture with the remaining 25% held by O&G Industries, Inc. The joint venture was initially financed with contributions from the partners and, per the term of the joint venture agreement, the partners may be required to provide additional capital contributions in the future. 

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2017
Other Comprehensive Income (Loss) [Abstract]
Other Comprehensive Income (Loss)	(13 ) Other Comprehensive Income (Loss)  ASC 220, Comprehensive Income , establishes standards for reporting and displaying comprehensive income and its components in the consolidated financial statements. The Company reports the change in pension benefit plans assets/liabilities, cumulative foreign currency translation, change in fair value of investments and change in fair value of an interest rate swap as components of accumulated other comprehensive loss (“AOCI”).  The tax effects of the components of other comprehensive income (loss) for the three months ended June 30, 2017 and 2016 are as follows:      Three Months Ended Three Months Ended  June 30, 2017 June 30, 2016  (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 $ 456 $ (187) $ 269 $ 427 $ (103) $ 324  Foreign currency translation adjustments 1,101 (452) 649 (396) 138 (258)  Unrealized loss in fair value of investments (6) 3 (3) (271) 118 (153)  Unrealized gain in fair value of interest rate swap — — — 17 (6) 11  Total other comprehensive income (loss) 1,551 (636) 915 (223) 147 (76)  Other comprehensive income (loss) attributable to Tutor Perini Corporation $ 1,551 $ (636) $ 915 $ (223) $ 147 $ (76)  The tax effects of the components of other comprehensive income (loss) for the six months ended June 30, 2017 and 2016 are as follows:      Six Months Ended Six Months Ended  June 30, 2017 June 30, 2016  (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 $ 912 $ (375) $ 537 $ 853 $ (282) $ 571  Foreign currency translation adjustment 1,009 (414) 595 1,208 (536) 672  Unrealized loss in fair value of investments (42) 18 (24) (258) 113 (145)  Unrealized loss in fair value of interest rate swap — — — (45) 21 (24)  Total other comprehensive income (loss) 1,879 (771) 1,108 1,758 (684) 1,074  Other comprehensive income (loss) attributable to Tutor Perini Corporation $ 1,879 $ (771) $ 1,108 $ 1,758 $ (684) $ 1,074  The changes in AOCI balances by component (after tax) during the three and six months ended June 30, 2017 are as follows:      Three Months Ended June 30, 2017  Defined Unrealized Accumulated  Benefit Foreign Gain (Loss) in Other  Pension Currency Fair Value of Comprehensive  (in thousands) Plan Translation Investments, Net Loss  Balance as of March 31, 2017 $ (40,597) $ (4,918) $ 295 $ (45,220)  Other comprehensive gain (loss) before reclassifications — 649 (3) 646  Amounts reclassified from AOCI 269 — — 269  Total other comprehensive income (loss) 269 649 (3) 915  Balance as of June 30, 2017 $ (40,328) $ (4,269) $ 292 $ (44,305)      Six Months Ended June 30, 2017  Defined Unrealized Accumulated  Benefit Foreign Gain (Loss) in Other  Pension Currency Fair Value of Comprehensive  (in thousands) Plan Translation Investments, Net Loss  Balance as of December 31, 2016 $ (40,865) $ (4,864) $ 316 $ (45,413)  Other comprehensive gain (loss) before reclassifications — 595 (24) 571  Amounts reclassified from AOCI 537 — — 537  Total other comprehensive income (loss) 537 595 (24) 1,108  Balance as of June 30, 2017 $ (40,328) $ (4,269) $ 292 $ (44,305)  The changes in AOCI balance by component (after tax) for the three and six months ended June 30, 2016 are as follows:       Three Months Ended June 30, 2016  Unrealized  Defined Unrealized Gain (Loss) in Accumulated  Benefit Foreign Gain (Loss) in Fair Value of Other  Pension Currency Fair Value of Interest Rate Comprehensive  (in thousands) Plan Translation Investments, Net Swap, Net Loss  Balance as of March 31, 2016 $ (37,995) $ (3,673) $ 664 $ (11) $ (41,015)  Other comprehensive gain (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)       Six Months Ended June 30, 2016  Unrealized  Defined Unrealized Gain (Loss) in Accumulated  Benefit Foreign Gain (Loss) in Fair Value of Other  Pension Currency Value of Interest Rate Comprehensive  (in thousands) Plan Translation Investments, Net Swap, Net Loss  Balance as of December 31, 2015 $ (38,242) $ (4,603) $ 656 $ 24 $ (42,165)  Other comprehensive gain (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 significant 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 Operations 2017 2016 2017 2016  Defined benefit pension plan adjustments Various accounts (a) $ 456 $ 427 $ 912 $ 853  Income tax benefit Provision for income taxes (187) (103) (375) (282)  Net of tax $ 269 $ 324 $ 537 $ 571 ____________________________________________________________________________________________________ (a) Defined benefit pension plan adjustments were reclassified primarily to cost of operations and general and administrative expenses . 

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2017
Business Segments [Abstract]
Business Segments	(1 4 ) Business Segments  The Company offers general contracting, pre-construction planning and comprehensive project management services, including planning and scheduling of 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 heating, ventilation and air conditioning (HVAC). As described 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 for private and public works customers in a number of specialized building markets, including: 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.  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 s set forth certain reportable segment information relating to the Company’s operations for the three and six months ended June 30, 2017 and 2016:      Reportable Segments  Specialty Consolidated  (in thousands) Civil Building Contractors Total Corporate Total  Three Months Ended June 30, 2017  Total revenue $ 538,552 $ 508,769 $ 281,857 $ 1,329,178 $ — $ 1,329,178  Elimination of intersegment revenue (65,970) (15,934) — (81,904) — (81,904)  Revenue from external customers $ 472,582 $ 492,835 $ 281,857 $ 1,247,274 $ — $ 1,247,274  Income from construction operations $ 58,144 $ 5,736 $ (14,007) $ 49,873 $ (15,828) (a) $ 34,045  Capital expenditures $ 1,850 $ 104 $ 286 $ 2,240 $ 271 $ 2,511  Depreciation and amortization (b) $ 5,236 $ 513 $ 1,193 $ 6,942 $ 2,820 $ 9,762   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  Capital expenditures $ 3,545 $ 81 $ 119 $ 3,745 $ 124 $ 3,869  Depreciation and amortization (b) $ 12,447 $ 549 $ 1,263 $ 14,259 $ 2,887 $ 17,146 ____________________________________________________________________________________________________ (a) Consists primarily of corporate general and administrative expenses. (b) Depreciation and amortization is included in income from construction operations.      Reportable Segments  Specialty Consolidated  (in thousands) Civil Building Contractors Total Corporate Total  Six Months Ended June 30, 2017  Total revenue $ 905,363 $ 1,019,936 $ 597,553 $ 2,522,852 $ — $ 2,522,852  Elimination of intersegment revenue (128,206) (30,011) — (158,217) — (158,217)  Revenue from external customers $ 777,157 $ 989,925 $ 597,553 $ 2,364,635 $ — $ 2,364,635  Income from construction operations $ 90,032 $ 10,977 $ 755 $ 101,764 $ (30,702) (a) $ 71,062  Capital expenditures $ 7,417 $ 148 $ 293 $ 7,858 $ 325 $ 8,183  Depreciation and amortization (b) $ 21,554 $ 1,031 $ 2,385 $ 24,970 $ 5,788 $ 30,758   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  Capital expenditures $ 7,157 $ 302 $ 744 $ 8,203 $ 478 $ 8,681  Depreciation and amortization (b) $ 20,531 $ 1,106 $ 2,568 $ 24,205 $ 5,751 $ 29,956 ____________________________________________________________________________________________________ (a) Consists primarily of corporate general and administrative expenses. (b) Depreciation and amortization is included in income from construction operations.  During the first half 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. The net impact included material adjustments related to two electrical subcontract projects: 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 was nearly complete ( $0.17 per diluted share). These were the only changes in estimates considered material to the Company’s results of operations during the periods presented herein.  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) 2017 2016 2017 2016  Income from construction operations $ 34,045 $ 48,829 $ 71,062 $ 88,951  Other income, net 40,990 2,485 41,406 3,166  Interest expense (22,519) (15,534) (38,083) (29,614)  Income before income taxes $ 52,516 $ 35,780 $ 74,385 $ 62,503  Total assets by segment are as follows:      (in thousands) June 30, 2017 December 31, 2016  Civil $ 2,311,858 $ 2,152,123  Building 878,501 917,317  Specialty Contractors 844,919 813,851  Corporate and other (a) 129,588 155,329  Total assets $ 4,164,866 $ 4,038,620 ____________________________________________________________________________________________________ (a) Consists principally of cash, equipment, tax-related assets and insurance-related assets, offset by the elimination of assets related to intersegment revenue.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	(15) Related Party Transactions  Raymond R. Oneglia, Vice Chairman of O&G Industries, Inc. (“O&G”), is a director of the Company. The Company occasionally forms construction project joint ventures with O&G, and for certain joint ventures O&G provides equipment and services for the projects on customary trade terms. Currently, the Company has two joint ventures with O&G for infrastructure projects in the northeastern United States that are 99% and 100% complete. In addition, we have a 75% interest in a newly formed joint venture with O&G (as the 25% interest holder) for a project in Los Angeles, California. The payments made by the joint ventures to O&G during the three and six months ended June 30, 2017 and 2016 were immaterial. 

Recent Accounting Pronounceme22

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2017
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) , as amended by subsequent ASUs (collectively, “ASU 2014-09”). ASU 2014-09 amends the existing accounting standards for revenue recognition and establishes principles for recognizing revenue upon the transfer of promised goods or services to customers based on the expected consideration to be received in exchange for those goods or services. The guidance will be effective for the Company as of January 1, 2018. The amendments may be applied retrospectively to each prior period presented or with the cumulative effect recognized as of the date of initial application (modified retrospective method). The Company expects to adopt this new standard using the modified retrospective method. The Company is currently reviewing contracts in order to determine the impact, if any, that the adoption of ASU 2014-09 will have on its consolidated financial statements. The Company is also identifying and implementing changes to the Company’s business processes, systems and internal controls to support the adoption of this new standard and the related disclosure requirements. A number of industry-specific implementation issues are still unresolved, and the final resolution of certain of these issues could impact the Company’s current accounting policies and/or revenue recognition patterns. The Company will continue its evaluation of ASU 2014-09 (including how it may impact future contracts, as well as any new or emerging interpretations of the standard) through the date of adoption.  In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting . This ASU clarifies the scope of modification accounting under Topic 718 with respect to changes to the terms or conditions of a share-based payments award. Under this new guidance, modification accounting would not apply if a change to an award does not affect the total current fair value, vesting conditions or the classification of the award. This guidance will be effective for the Company as of January 1, 2018, with early adoption permitted. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.

Earnings Per Common Share (EP23

Earnings Per Common Share (EPS) (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Common Share (EPS) [Abstract]
Calculations of the Basic and Diluted EPS	   Three Months Ended June 30, Six Months Ended June 30,  (in thousands, except per common share amounts) 2017 2016 2017 2016  Net income attributable to Tutor Perini Corporation $ 30,096 $ 21,361 $ 43,860 $ 36,760   Weighted-average common shares outstanding, basic 49,735 49,131 49,510 49,105  Effect of dilutive restricted stock units and stock options 1,020 430 1,343 318  Weighted-average common shares outstanding, diluted 50,755 49,561 50,853 49,423   Earnings per common share:  Basic earnings per common share $ 0.61 $ 0.43 $ 0.89 $ 0.75  Diluted earnings per common share $ 0.59 $ 0.43 $ 0.86 $ 0.74   Anti-dilutive shares not included above 353 1,704 672 1,704 

Costs And Estimated Earnings 24

Costs And Estimated Earnings In Excess Of Billings (Tables)	6 Months Ended
	Jun. 30, 2017
Costs and estimated earnings in excess of billings [Abstract]
Costs And Estimated Earnings In Excess Of Billings	   As of June 30, As of December 31,  (in thousands) 2017 2016  Claims $ 486,067 $ 477,425  Unapproved change orders 263,130 207,475  Other unbilled costs and profits 101,437 146,926  Total costs and estimated earnings in excess of billings $ 850,634 $ 831,826 

Financial Commitments (Tables)

Financial Commitments (Tables)	6 Months Ended
	Jun. 30, 2017
Financial Commitments [Abstract]
Long-term Debt	   As of June 30, As of December 31,  (in thousands) 2017 2016  2017 Senior Notes $ 492,360 $ —  2017 Credit Facility 118,160 —  2010 Senior Notes — 298,120  2014 Revolver — 147,990  Term Loan — 54,650  Convertible Notes 157,046 152,668  Equipment financing, mortgages and acquisition-related notes 89,311 101,558  Other indebtedness 5,783 4,533  Total debt 862,660 759,519  Less – current maturities (30,333) (85,890)  Long-term debt, net $ 832,327 $ 673,629 
Reconciliation Of Outstanding Debt Balance To Reported Debt Balance	   As of June 30, 2017 As of December 31, 2016  (in thousands) Outstanding Long-Term Debt Unamortized Discounts and Issuance Costs Long-Term Debt, as reported Outstanding Long-Term Debt Unamortized Discounts and Issuance Costs Long-Term Debt, as reported  2017 Senior Notes $ 500,000 $ (7,640) $ 492,360 $ — $ — $ —  2017 Credit Facility 125,000 (6,840) 118,160 — — —  2010 Senior Notes — — — 300,000 (1,880) 298,120  2014 Revolver — — — 152,500 (4,510) 147,990  Term Loan — — — 57,000 (2,350) 54,650  Convertible Notes 200,000 (42,954) 157,046 200,000 (47,332) 152,668 
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) 2017 2016 2017 2016  Cash interest expense:  Interest on 2017 Senior Notes $ 6,780 $ — $ 6,780 $ —  Interest on 2017 Credit Facility 1,491 — 1,491 —  Interest on 2010 Senior Notes 1,207 5,719 6,926 11,438  Interest on 2014 Credit Facility 746 7,051 4,455 12,389  Interest on Convertible Notes 1,437 240 2,875 240  Other interest 831 863 1,693 2,199  Cash portion of loss on extinguishment 1,913 — 1,913 —  Total cash interest expense 14,405 13,873 26,133 26,266   Non-cash interest expense: (a)  Amortization of debt issuance costs on 2017 Senior Notes 141 — 141 —  Amortization of debt issuance costs on 2017 Credit Facility 281 — 281 —  Amortization of discount and debt issuance costs on 2010 Senior Notes 54 250 308 498  Amortization of debt issuance costs on 2014 Credit Facility 285 1,071 1,703 2,510  Amortization of discount and debt issuance costs on Convertible Notes 2,214 340 4,378 340  Non-cash portion of loss on extinguishment 5,139 — 5,139 —  Total non-cash interest expense 8,114 1,661 11,950 3,348   Total cash and non-cash interest expense $ 22,519 $ 15,534 $ 38,083 $ 29,614 ____________________________________________________________________________________________________ (a) The combination of cash and non-cash interest expense produces effective interest rates that are higher than contractual rates. Accordingly, the effective interest rates for the period ended June 30, 2017 were 7.13% ; and 9.39% for the 2017 Senior Notes and the Convertible Notes, respectively.

Employee Pension Plans (Tables)

Employee Pension Plans (Tables)	6 Months Ended
	Jun. 30, 2017
Employee Pension Plans [Abstract]
Components of Net Periodic Benefit Cost	   Three Months Ended June 30, Six Months Ended June 30,  (in thousands) 2017 2016 2017 2016  Interest cost $ 975 $ 1,053 $ 1,950 $ 2,106  Expected return on plan assets (1,088) (1,203) (2,176) (2,406)  Amortization of net loss 456 427 912 854  Other 213 150 426 300  Net periodic benefit cost $ 556 $ 427 $ 1,112 $ 854 

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Measurements [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	    As of June 30, 2017 As of December 31, 2016  Fair Value Hierarchy Fair Value Hierarchy  (in thousands) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3  Cash and cash equivalents (a) $ 172,927 $ 172,927 $ — $ — $ 146,103 $ 146,103 $ — $ —  Restricted cash (a) 52,051 52,051 — — 50,504 50,504 — —  Investments in lieu of retainage (b) 56,024 52,992 3,032 — 51,266 46,855 4,411 —  Restricted investments (c) 9,281 — 9,281 — — — — —  Total $ 290,283 $ 277,970 $ 12,313 $ — $ 247,873 $ 243,462 $ 4,411 $ — ____________________________________________________________________________________________________ (a) Includes money market funds with original maturity dates of three months or less. (b) Investments in lieu of c ustomer retainage are included in accounts receivable and are comprised of money market funds and municipal bonds, th e majority of which are rated A 3 or better. The fair values of the money market funds are measured using quoted market prices; therefore, they are classified as Level 1 assets. The fair values of municipal bonds are measured using readily available pricing sources for comparable instruments; therefore, they are classified as Level 2 assets. (c) Restricted investments are held as collateral to secure our insurance related contingent obligations. The balances of these investments are held to maturity and are carried at their amortized cost of $9.3 million, which are included in other current assets. These restricted investments are comprised of various corporate bonds and bank notes which are rated A2 or better. The fair values of the corporate bonds and bank notes are measured using readily available sources for comparable instruments; therefore, they are classified as Level 2 assets.

Other Comprehensive Income (L28

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2017
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, 2017 and 2016 are as follows:      Three Months Ended Three Months Ended  June 30, 2017 June 30, 2016  (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 $ 456 $ (187) $ 269 $ 427 $ (103) $ 324  Foreign currency translation adjustments 1,101 (452) 649 (396) 138 (258)  Unrealized loss in fair value of investments (6) 3 (3) (271) 118 (153)  Unrealized gain in fair value of interest rate swap — — — 17 (6) 11  Total other comprehensive income (loss) 1,551 (636) 915 (223) 147 (76)  Other comprehensive income (loss) attributable to Tutor Perini Corporation $ 1,551 $ (636) $ 915 $ (223) $ 147 $ (76)  The tax effects of the components of other comprehensive income (loss) for the six months ended June 30, 2017 and 2016 are as follows:      Six Months Ended Six Months Ended  June 30, 2017 June 30, 2016  (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 $ 912 $ (375) $ 537 $ 853 $ (282) $ 571  Foreign currency translation adjustment 1,009 (414) 595 1,208 (536) 672  Unrealized loss in fair value of investments (42) 18 (24) (258) 113 (145)  Unrealized loss in fair value of interest rate swap — — — (45) 21 (24)  Total other comprehensive income (loss) 1,879 (771) 1,108 1,758 (684) 1,074  Other comprehensive income (loss) attributable to Tutor Perini Corporation $ 1,879 $ (771) $ 1,108 $ 1,758 $ (684) $ 1,074 
Schedule Of Changes In AOCI Balances By Component (After-Tax)	The changes in AOCI balances by component (after tax) during the three and six months ended June 30, 2017 are as follows:      Three Months Ended June 30, 2017  Defined Unrealized Accumulated  Benefit Foreign Gain (Loss) in Other  Pension Currency Fair Value of Comprehensive  (in thousands) Plan Translation Investments, Net Loss  Balance as of March 31, 2017 $ (40,597) $ (4,918) $ 295 $ (45,220)  Other comprehensive gain (loss) before reclassifications — 649 (3) 646  Amounts reclassified from AOCI 269 — — 269  Total other comprehensive income (loss) 269 649 (3) 915  Balance as of June 30, 2017 $ (40,328) $ (4,269) $ 292 $ (44,305)      Six Months Ended June 30, 2017  Defined Unrealized Accumulated  Benefit Foreign Gain (Loss) in Other  Pension Currency Fair Value of Comprehensive  (in thousands) Plan Translation Investments, Net Loss  Balance as of December 31, 2016 $ (40,865) $ (4,864) $ 316 $ (45,413)  Other comprehensive gain (loss) before reclassifications — 595 (24) 571  Amounts reclassified from AOCI 537 — — 537  Total other comprehensive income (loss) 537 595 (24) 1,108  Balance as of June 30, 2017 $ (40,328) $ (4,269) $ 292 $ (44,305)  The changes in AOCI balance by component (after tax) for the three and six months ended June 30, 2016 are as follows:       Three Months Ended June 30, 2016  Unrealized  Defined Unrealized Gain (Loss) in Accumulated  Benefit Foreign Gain (Loss) in Fair Value of Other  Pension Currency Fair Value of Interest Rate Comprehensive  (in thousands) Plan Translation Investments, Net Swap, Net Loss  Balance as of March 31, 2016 $ (37,995) $ (3,673) $ 664 $ (11) $ (41,015)  Other comprehensive gain (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)       Six Months Ended June 30, 2016  Unrealized  Defined Unrealized Gain (Loss) in Accumulated  Benefit Foreign Gain (Loss) in Fair Value of Other  Pension Currency Value of Interest Rate Comprehensive  (in thousands) Plan Translation Investments, Net Swap, Net Loss  Balance as of December 31, 2015 $ (38,242) $ (4,603) $ 656 $ 24 $ (42,165)  Other comprehensive gain (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) 
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 Operations 2017 2016 2017 2016  Defined benefit pension plan adjustments Various accounts (a) $ 456 $ 427 $ 912 $ 853  Income tax benefit Provision for income taxes (187) (103) (375) (282)  Net of tax $ 269 $ 324 $ 537 $ 571 ____________________________________________________________________________________________________ (a) Defined benefit pension plan adjustments were reclassified primarily to cost of operations and general and administrative expenses

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2017
Business Segments [Abstract]
Reportable Segments	   Reportable Segments  Specialty Consolidated  (in thousands) Civil Building Contractors Total Corporate Total  Three Months Ended June 30, 2017  Total revenue $ 538,552 $ 508,769 $ 281,857 $ 1,329,178 $ — $ 1,329,178  Elimination of intersegment revenue (65,970) (15,934) — (81,904) — (81,904)  Revenue from external customers $ 472,582 $ 492,835 $ 281,857 $ 1,247,274 $ — $ 1,247,274  Income from construction operations $ 58,144 $ 5,736 $ (14,007) $ 49,873 $ (15,828) (a) $ 34,045  Capital expenditures $ 1,850 $ 104 $ 286 $ 2,240 $ 271 $ 2,511  Depreciation and amortization (b) $ 5,236 $ 513 $ 1,193 $ 6,942 $ 2,820 $ 9,762   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  Capital expenditures $ 3,545 $ 81 $ 119 $ 3,745 $ 124 $ 3,869  Depreciation and amortization (b) $ 12,447 $ 549 $ 1,263 $ 14,259 $ 2,887 $ 17,146 ____________________________________________________________________________________________________ (a) Consists primarily of corporate general and administrative expenses. (b) Depreciation and amortization is included in income from construction operations.      Reportable Segments  Specialty Consolidated  (in thousands) Civil Building Contractors Total Corporate Total  Six Months Ended June 30, 2017  Total revenue $ 905,363 $ 1,019,936 $ 597,553 $ 2,522,852 $ — $ 2,522,852  Elimination of intersegment revenue (128,206) (30,011) — (158,217) — (158,217)  Revenue from external customers $ 777,157 $ 989,925 $ 597,553 $ 2,364,635 $ — $ 2,364,635  Income from construction operations $ 90,032 $ 10,977 $ 755 $ 101,764 $ (30,702) (a) $ 71,062  Capital expenditures $ 7,417 $ 148 $ 293 $ 7,858 $ 325 $ 8,183  Depreciation and amortization (b) $ 21,554 $ 1,031 $ 2,385 $ 24,970 $ 5,788 $ 30,758   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  Capital expenditures $ 7,157 $ 302 $ 744 $ 8,203 $ 478 $ 8,681  Depreciation and amortization (b) $ 20,531 $ 1,106 $ 2,568 $ 24,205 $ 5,751 $ 29,956 ____________________________________________________________________________________________________ (a) Consists primarily of corporate general and administrative expenses. (b) Depreciation and amortization is included in income from construction operations.
Reconciliation of Segment Results to Consolidated Income Before Income Taxes	   Three Months Ended June 30, Six Months Ended June 30,  (in thousands) 2017 2016 2017 2016  Income from construction operations $ 34,045 $ 48,829 $ 71,062 $ 88,951  Other income, net 40,990 2,485 41,406 3,166  Interest expense (22,519) (15,534) (38,083) (29,614)  Income before income taxes $ 52,516 $ 35,780 $ 74,385 $ 62,503 
Schedule of Assets by Segment	   (in thousands) June 30, 2017 December 31, 2016  Civil $ 2,311,858 $ 2,152,123  Building 878,501 917,317  Specialty Contractors 844,919 813,851  Corporate and other (a) 129,588 155,329  Total assets $ 4,164,866 $ 4,038,620 ____________________________________________________________________________________________________ Consists principally of cash, equipment, tax-related assets and insurance-related assets, offset by the elimination of assets related to intersegment revenue.

Earnings Per Common Share (EP30

Earnings Per Common Share (EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Common Share (EPS) [Abstract]
Net income	$ 30,096	$ 21,361	$ 43,860	$ 36,760
Weighted-average common shares outstanding - basic	49,735	49,131	49,510	49,105
Effect of dilutive restricted stock units and stock options	1,020	430	1,343	318
Weighted-average common shares outstanding - diluted	50,755	49,561	50,853	49,423
Net income per share: Basic	$ 0.61	$ 0.43	$ 0.89	$ 0.75
Net income per share: Diluted	$ 0.59	$ 0.43	$ 0.86	$ 0.74
Anti-dilutive shares not included above	353	1,704	672	1,704

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Taxes [Abstract]
Effective income tax rate	37.90%	40.30%	37.60%	41.20%

Costs And Estimated Earnings 32

Costs And Estimated Earnings In Excess Of Billings (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Costs and estimated earnings in excess of billings [Abstract]
Claims	$ 486,067	$ 477,425
Unapproved change orders	263,130	207,475
Other unbilled costs and profits	101,437	146,926
Total costs and estimated earnings in excess of billings	$ 850,634	$ 831,826

Financial Commitments (Narrativ

Financial Commitments (Narrative) (Details)	Apr. 19, 2017USD ($)	Jun. 30, 2017USD ($)d / item$ / sharesshares
Letters Of Credit [Member]
Debt Instrument [Line Items]
Face amount	$ 150,000,000
Maximum borrowing capacity		$ 150,000,000
Swingline Loans [Member]
Debt Instrument [Line Items]
Face amount		10,000,000
Convertible Notes [Member]
Debt Instrument [Line Items]
Face amount		$ 200,000,000
Interest rate		2.875%
Maturity date		Jun. 15, 2021
Conversion price, shares | shares		33.0579
Conversion price | $ / shares		$ 30.25
Effective interest rates		9.39%
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 within consecutive trading day period | d / item		20
Consecutive trading day period		30 days
Percentage of conversion price		130.00%
Conversion stock price trigger | $ / shares		$ 39.32
Term Loan [Member]
Debt Instrument [Line Items]
Face amount	250,000,000
2010 Senior Notes [Member]
Debt Instrument [Line Items]
Face amount	$ 300,000,000
Interest rate	7.625%
Maturity date	Nov. 1, 2018
2017 Senior Notes [Member]
Debt Instrument [Line Items]
Effective interest rates		7.13%
2017 Senior Notes [Member] | Private Placement [Member]
Debt Instrument [Line Items]
Face amount		$ 500,000,000
Interest rate		6.875%
Redemption price, change of control triggering event (as a percent)		101.00%
2017 Senior Notes [Member] | Circumstance One [Member] | Private Placement [Member]
Debt Instrument [Line Items]
Redemption price		100.00%
2017 Senior Notes [Member] | Circumstance Two [Member] | Private Placement [Member]
Debt Instrument [Line Items]
Percentage of notes that can be redeemed		40.00%
Redemption price		106.875%
2017 Credit Facility [Member]
Debt Instrument [Line Items]
Applicable margin and letter of credit fees will be increased percentage per annum.		2.00%
Weighted-average annual interest rate on borrowings		3.70%
Maximum borrowing capacity		$ 350,000,000
Additional borrowing		150,000,000
Available borrowing capacity		$ 225,000,000
Maturity date		Apr. 20, 2022
Fixed charge coverage ratio		1.25
2017 Credit Facility [Member] | Minimum [Member[
Debt Instrument [Line Items]
Consolidated leverage ratio		3.25
2017 Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Consolidated leverage ratio		4
2017 Credit Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis points added to reference rate (as a percent)		2.50%
2017 Credit Facility [Member] | LIBOR [Member] | Minimum [Member[
Debt Instrument [Line Items]
Basis points added to reference rate (as a percent)		1.50%
2017 Credit Facility [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis points added to reference rate (as a percent)		3.00%
2017 Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Basis points added to reference rate (as a percent)		1.50%
2017 Credit Facility [Member] | Base Rate [Member] | Circumstance Three [Member]
Debt Instrument [Line Items]
Basis points added to reference rate (as a percent)		1.00%
2017 Credit Facility [Member] | Base Rate [Member] | Circumstance Four [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
2017 Credit Facility [Member] | Base Rate [Member] | Minimum [Member[
Debt Instrument [Line Items]
Basis points added to reference rate (as a percent)		0.50%
2017 Credit Facility [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis points added to reference rate (as a percent)		2.00%
2017 Credit Facility [Member] | Federal Funds Rate [Member] | Circumstance Two [Member]
Debt Instrument [Line Items]
Basis points added to reference rate (as a percent)		0.50%
2014 Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date	May 1, 2018
Maximum borrowing capacity	$ 300,000,000
2014 Credit Facility [Member] | LIBOR [Member] | Minimum [Member[ | Term Loan [Member]
Debt Instrument [Line Items]
Basis points added to reference rate (as a percent)	1.25%
2014 Credit Facility [Member] | LIBOR [Member] | Maximum [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Basis points added to reference rate (as a percent)	3.00%

Financial Commitments (Long-Ter

Financial Commitments (Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total debt	$ 862,660	$ 759,519
Less - current maturities	(30,333)	(85,890)
Long-term debt, net	832,327	673,629
2017 Senior Notes [Member]
Debt Instrument [Line Items]
Total debt	492,360
2010 Senior Notes [Member]
Debt Instrument [Line Items]
Total debt		298,120
Term Loan [Member]
Debt Instrument [Line Items]
Total debt		54,650
Convertible Notes [Member]
Debt Instrument [Line Items]
Total debt	157,046	152,668
Equipment Financing, Mortgages And Acquisition-Related Notes [Member]
Debt Instrument [Line Items]
Total debt	89,311	101,558
Other Indebtedness [Member]
Debt Instrument [Line Items]
Total debt	5,783	4,533
2017 Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	$ 118,160
2014 Credit Facility [Member]
Debt Instrument [Line Items]
Total debt		$ 147,990

Financial Commitments (Reconcil

Financial Commitments (Reconciliation Of Outstanding Debt Balance To Reported Debt Balance) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Unamortized Discounts and Issuance Costs	$ (57,434)	$ (56,072)
Total debt	862,660	759,519
2017 Credit Facility [Member]
Debt Instrument [Line Items]
Outstanding Long-Term Debt	125,000
Unamortized Discounts and Issuance Costs	(6,840)
Total debt	118,160
2014 Credit Facility [Member]
Debt Instrument [Line Items]
Outstanding Long-Term Debt		152,500
Unamortized Discounts and Issuance Costs		(4,510)
Total debt		147,990
2017 Senior Notes [Member]
Debt Instrument [Line Items]
Outstanding Long-Term Debt	500,000
Unamortized Discounts and Issuance Costs	(7,640)
Total debt	492,360
2010 Senior Notes [Member]
Debt Instrument [Line Items]
Outstanding Long-Term Debt		300,000
Unamortized Discounts and Issuance Costs		(1,880)
Total debt		298,120
Term Loan [Member]
Debt Instrument [Line Items]
Outstanding Long-Term Debt		57,000
Unamortized Discounts and Issuance Costs		(2,350)
Total debt		54,650
Convertible Notes [Member]
Debt Instrument [Line Items]
Outstanding Long-Term Debt	200,000	200,000
Unamortized Discounts and Issuance Costs	(42,954)	(47,332)
Total debt	$ 157,046	$ 152,668

Financial Commitments (Summary

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, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Other interest	$ 831	$ 863	$ 1,693	$ 2,199
Cash portion of loss on extinguishment	1,913		1,913
Non-cash portion of loss on extinguishment	5,139		5,139
Total cash interest expense	14,405	13,873	26,133	26,266
Total non-cash interest expense	8,114	1,661	11,950	3,348
Total cash and non-cash interest expense	22,519	15,534	38,083	29,614
2017 Senior Notes [Member]
Interest on debt	6,780		6,780
Total non-cash interest expense	$ 141		$ 141
Effective interest rates	7.13%		7.13%
2010 Senior Notes [Member]
Interest on debt	$ 1,207	5,719	$ 6,926	11,438
Total non-cash interest expense	54	250	308	498
Convertible Notes [Member]
Interest on debt	1,437	240	2,875	240
Total non-cash interest expense	$ 2,214	340	$ 4,378	340
Effective interest rates	9.39%		9.39%
2017 Credit Facility [Member]
Interest on debt	$ 1,491		$ 1,491
Total non-cash interest expense	281		281
2014 Credit Facility [Member]
Interest on debt	746	7,051	4,455	12,389
Total non-cash interest expense	$ 285	$ 1,071	$ 1,703	$ 2,510

Contingencies and Commitments (

Contingencies and Commitments (Details) $ in Millions

Oct. 01, 2014USD ($)

Mar. 20, 2014USD ($)

Oct. 30, 2013USD ($)

Aug. 20, 2013USD ($)

Mar. 31, 2015USD ($)

Mar. 31, 2011USD ($)

Jun. 30, 2003USD ($)

Jun. 30, 2017USD ($)ft²claim

Dec. 31, 2009USD ($)room

May 17, 2017USD ($)

Jul. 31, 2014USD ($)

May 31, 2012USD ($)

Sep. 30, 2011USD ($)

Jul. 31, 2010USD ($)

May 31, 2010USD ($)

Mar. 31, 2010USD ($)

Jun. 30, 2009USD ($)

Feb. 28, 2006USD ($)

Long Island Expressway/Cross Island Parkway Matter [Member]

Loss Contingencies [Line Items]

Estimated value of project completed in Feb. 2006

$ 130

Value of claim filed

$ 53.8

Amount receivable as per final agreement

$ 0.5

Value of counterclaim filed

$ 151

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

Total outstanding liens on property, including subcontractors' liens

$ 44

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

$ 125

Estimated sustainable lien amount

$ 350

Honeywell Street/Queens Boulevard Bridges Matter [Member]

Loss Contingencies [Line Items]

Value of claim filed

$ 8.8

Value of counterclaim filed

$ 74.6

Release of retention plus interest

$ 1.1

Westgate Planet Hollywood Matter [Member]

Loss Contingencies [Line Items]

Settlement receipt

$ 0.6

Total awards

19.7

Damages awarded which were anticipated to be paid including interest

$ 3.1

Value of cross complaint filed

$ 51

Value of counterclaim filed

45

Total outstanding liens on property, including subcontractors' liens

23.2

Value of mechanic's lien release bond

$ 22.3

$ 22.3

Value of supersedeas bond

1.7

Total value of security

$ 24

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

Loss Contingencies [Line Items]

Total awards

$ 1

Value of claim filed

$ 0.7

$ 2.6

$ 26.8

Number of claims | claim

3

Square footage of facility | ft²

287,000

Total awards denied

$ 29.5

Minimum [Member[ | Westgate Planet Hollywood Matter [Member]

Loss Contingencies [Line Items]

Total value of security

$ 20

Other Income, Net (Narrative) (

Other Income, Net (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
ARS [Member]
Settlement receipt	$ 37

Share-Based Compensation (Detai

Share-Based Compensation (Details) - $ / shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Restricted Stock Units [Member]
Share-Based Compensation [Line Items]
Units granted	665,000	483,387
Weighted-average per share prices	$ 30.48	$ 19.14
Stock Options [Member]
Share-Based Compensation [Line Items]
Stock options awarded	265,000	274,000
Weighted-average exercise prices	$ 23.47	$ 16.20
Unrestricted Stock Units [Member]
Share-Based Compensation [Line Items]
Units granted	99,155	64,603
Weighted-average per share prices	$ 26.26	$ 21.67
Performance-based Restricted Stock Units [Member]
Share-Based Compensation [Line Items]
Units forfeited	20,985
Forfeited, Weighted Average Grant Date Fair Value	$ 23.91
Performance-based Stock Options [Member]
Share-Based Compensation [Line Items]
Options forfeited	19,466
Options forfeited, Weighted Average Exercise Price	$ 26.56
Restricted Stock Units And Stock Options [Member]
Share-Based Compensation [Line Items]
Aggregate number of shares outstanding, historical awards that either have not vested or have vested but not exercised	3,665,018
Tutor Perini Corporation Incentive Compensation Plan (“Compensation Plan”) [Member] | Stock Options [Member]
Share-Based Compensation [Line Items]
Options expiration period	10 years
Number of shares authorized for grant	2,335,000
Number of shares available for future grant	2,237,201
Term of stock options	10 years
Tutor Perini Corporation Long-Term Incentive Plan (“Incentive Plan”)
Share-Based Compensation [Line Items]
Number of shares authorized for grant	405,529

Employee Pension Plans (Details

Employee Pension Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Summary of net periodic benefit cost
Interest cost	$ 975	$ 1,053	$ 1,950	$ 2,106
Expected return on plan assets	(1,088)	(1,203)	(2,176)	(2,406)
Amortization (adjustment) of net loss	456	427	912	854
Other	213	150	426	300
Net periodic benefit cost	$ 556	$ 427	1,112	854
Company contribution			1,400	$ 800
Expected contributions remainder of current fiscal year			$ 1,200

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Long-term Debt
Transfers between Levels 1 and 2, description	The Company did not have material transfers between Levels 1 and 2 during the six months ended June 30, 2017 or 2016.
Long-term debt, carrying amount	$ 862,660	$ 759,519
2017 Senior Notes [Member]
Long-term Debt
Long-term debt, fair value	526,300
Long-term debt, carrying amount	492,360
2010 Senior Notes [Member]
Long-term Debt
Long-term debt, fair value		302,600
Long-term debt, carrying amount		298,120
Convertible Notes [Member]
Long-term Debt
Long-term debt, fair value	238,400	228,400
Long-term debt, carrying amount	$ 157,046	$ 152,668

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets:
Restricted cash	$ 52,051	$ 50,504
Restricted investments at amortized cost	9,300
Fair Value Measured On A Recurring Basis [Member]
Assets:
Cash and cash equivalents	172,927	146,103
Restricted cash	52,051	50,504
Investments in lieu of retainage	56,024	51,266
Restricted investments	9,281
Total assets	290,283	247,873
Fair Value Measured On A Recurring Basis [Member] | Quoted Prices In Active Markets (Level 1) [Member]
Assets:
Cash and cash equivalents	172,927	146,103
Restricted cash	52,051	50,504
Investments in lieu of retainage	52,992	46,855
Total assets	277,970	243,462
Fair Value Measured On A Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Investments in lieu of retainage	3,032	4,411
Restricted investments	9,281
Total assets	$ 12,313	$ 4,411

Variable Interest Entities (Nar

Variable Interest Entities (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Assets, Current	$ 2,991,707		$ 2,991,707		$ 2,837,756
Liabilities, Current	1,445,573		1,445,573		$ 1,518,943
REVENUE	1,247,274	$ 1,308,130	2,364,635	$ 2,393,499
Purple Line Segment 2 Expansion Project [Member] | Plan [Member]
REVENUE			$ 1,400,000
Purple Line Segment 2 Expansion Project [Member] | O&G [Member]
Ownership percentage in joint venture			75.00%
Related party's ownership percentage in joint venture			25.00%
Variable Interest Entity, Primary Beneficiary [Member]
Assets, Current	94,400		$ 94,400
Liabilities, Current	$ 88,200		$ 88,200

Other Comprehensive Income (L44

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, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Other Comprehensive Income (Loss) [Abstract]
Defined benefit pension plan adjustments, Before-Tax Amount	$ 456	$ 427	$ 912	$ 853
Defined benefit pension plan adjustments, Tax (Expense) Benefit	(187)	(103)	(375)	(282)
Defined benefit pension plan adjustments, Net-of-Tax Amount	269	324	537	571
Foreign currency translation adjustments, Before-Tax Amount	1,101	(396)	1,009	1,208
Foreign currency translation adjustments, Tax (Expense) Benefit	(452)	138	(414)	(536)
Foreign currency translation adjustments, Net-of-Tax Amount	649	(258)	595	672
Unrealized (loss) gain in fair value of investments, Before-Tax Amount	(6)	(271)	(42)	(258)
Unrealized (loss) gain in fair value of investments, Tax (Expense) Benefit	3	118	18	113
Unrealized (loss) gain in fair value of investments, Net-of-Tax Amount	(3)	(153)	(24)	(145)
Unrealized loss in fair value of interest rate swap, Before-Tax Amount		17		(45)
Unrealized loss in fair value of interest rate swap, Tax (Expense) Benefit		(6)		21
Unrealized loss in fair value of interest rate swap, Net-of-Tax Amount		11		(24)
Total other comprehensive income (loss), Before-Tax Amount	1,551	(223)	1,879	1,758
Total other comprehensive income (loss), Tax (Expense) Benefit	(636)	147	(771)	(684)
Total other comprehensive income (loss), Net-of-Tax Amount	915	(76)	1,108	1,074
Other comprehensive income (loss) attributable to Tutor Perini Corporation, Before-Tax Amount	1,551	(223)	1,879	1,758
Other comprehensive income (loss) attributable to Tutor Perini Corporation, Tax (Expense) Benefit	(636)	147	(771)	(684)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	$ 915	$ (76)	$ 1,108	$ 1,074

Other Comprehensive Income (L45

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, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period			$ 1,553,023
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	$ 915	$ (76)	1,108	$ 1,074
Balance at the end of the period	1,598,577		1,598,577
Defined Benefit Pension Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period	(40,597)	(37,995)	(40,865)	(38,242)
Amounts reclassified from AOCI	269	324	537	571
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	269	324	537	571
Balance at the end of the period	(40,328)	(37,671)	(40,328)	(37,671)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period	(4,918)	(3,673)	(4,864)	(4,603)
Other comprehensive gain (loss) before reclassifications	649	(258)	595	672
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	649	(258)	595	672
Balance at the end of the period	(4,269)	(3,931)	(4,269)	(3,931)
Unrealized Gain (Loss) in Fair Value of Investments, net [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period	295	664	316	656
Other comprehensive gain (loss) before reclassifications	(3)	(153)	(24)	(145)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(3)	(153)	(24)	(145)
Balance at the end of the period	292	511	292	511
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)		24
Other comprehensive gain (loss) before reclassifications		11		(24)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX		11		(24)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period	(45,220)	(41,015)	(45,413)	(42,165)
Other comprehensive gain (loss) before reclassifications	646	(400)	571	503
Amounts reclassified from AOCI	269	324	537	571
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	915	(76)	1,108	1,074
Balance at the end of the period	$ (44,305)	$ (41,091)	$ (44,305)	$ (41,091)

Other Comprehensive Income (L46

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) - Reclassification out of Accumulated Other Comprehensive Income [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Defined benefit pension plan adjustments	$ 456	$ 427	$ 912	$ 853
Income tax benefit	187	103	375	282
Net of tax	$ 269	$ 324	$ 537	$ 571

Business Segments (Narrative) (

Business Segments (Narrative) (Details) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)$ / shares	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2017USD ($)segment$ / shares	Jun. 30, 2016USD ($)contract$ / shares
Segment Reporting Information [Line Items]
Number of reportable segments | segment			3
Income from construction operations	$ 34,045	$ 48,829	$ 71,062	$ 88,951
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) | $ / shares	$ 0.59	$ 0.43	$ 0.86	$ 0.74
Building [Member]
Segment Reporting Information [Line Items]
Income from construction operations	$ 5,736	$ 13,223	$ 10,977	$ 25,673
Civil [Member]
Segment Reporting Information [Line Items]
Income from construction operations	58,144	45,056	90,032	78,721
Specialty Contractors [Member]
Segment Reporting Information [Line Items]
Income from construction operations	(14,007)	5,413	755	14,826
Corporate [Member]
Segment Reporting Information [Line Items]
Income from construction operations	$ (15,828)	$ (14,863)	$ (30,702)	(30,269)
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
Five Star Electric Subcontract [Member]
Segment Reporting Information [Line Items]
Number of projects | contract				2
Five Star Electric Subcontract [Member] | Scenario Unfavorable Adjustment [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 Subcontract [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

Business Segments (Reportable S

Business Segments (Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Business Segments [Line items]
Revenue	$ 1,247,274	$ 1,308,130	$ 2,364,635	$ 2,393,499
INCOME FROM CONSTRUCTION OPERATIONS	34,045	48,829	71,062	88,951
Other income, net	40,990	2,485	41,406	3,166
Capital expenditures	2,511	3,869	8,183	8,681
Depreciation and amortization	9,762	17,146	30,758	29,956
External And Intersegment Customers [Member]
Business Segments [Line items]
Revenue	1,329,178	1,369,989	2,522,852	2,507,257
Elimination Of Intersegment Revenues [Member]
Business Segments [Line items]
Revenue	(81,904)	(61,859)	(158,217)	(113,758)
Reportable Segments [Member]
Business Segments [Line items]
Revenue	1,247,274	1,308,130	2,364,635	2,393,499
INCOME FROM CONSTRUCTION OPERATIONS	49,873	63,692	101,764	119,220
Capital expenditures	2,240	3,745	7,858	8,203
Depreciation and amortization	6,942	14,259	24,970	24,205
Reportable Segments [Member] | External And Intersegment Customers [Member]
Business Segments [Line items]
Revenue	1,329,178	1,369,989	2,522,852	2,507,257
Reportable Segments [Member] | Elimination Of Intersegment Revenues [Member]
Business Segments [Line items]
Revenue	(81,904)	(61,859)	(158,217)	(113,758)
Civil [Member]
Business Segments [Line items]
Revenue	472,582	465,707	777,157	801,565
INCOME FROM CONSTRUCTION OPERATIONS	58,144	45,056	90,032	78,721
Capital expenditures	1,850	3,545	7,417	7,157
Depreciation and amortization	5,236	12,447	21,554	20,531
Civil [Member] | External And Intersegment Customers [Member]
Business Segments [Line items]
Revenue	538,552	504,930	905,363	872,431
Civil [Member] | Elimination Of Intersegment Revenues [Member]
Business Segments [Line items]
Revenue	(65,970)	(39,223)	(128,206)	(70,866)
Building [Member]
Business Segments [Line items]
Revenue	492,835	523,521	989,925	991,259
INCOME FROM CONSTRUCTION OPERATIONS	5,736	13,223	10,977	25,673
Capital expenditures	104	81	148	302
Depreciation and amortization	513	549	1,031	1,106
Building [Member] | External And Intersegment Customers [Member]
Business Segments [Line items]
Revenue	508,769	546,157	1,019,936	1,034,151
Building [Member] | Elimination Of Intersegment Revenues [Member]
Business Segments [Line items]
Revenue	(15,934)	(22,636)	(30,011)	(42,892)
Specialty Contractors [Member]
Business Segments [Line items]
Revenue	281,857	318,902	597,553	600,675
INCOME FROM CONSTRUCTION OPERATIONS	(14,007)	5,413	755	14,826
Capital expenditures	286	119	293	744
Depreciation and amortization	1,193	1,263	2,385	2,568
Specialty Contractors [Member] | External And Intersegment Customers [Member]
Business Segments [Line items]
Revenue	281,857	318,902	597,553	600,675
Corporate [Member]
Business Segments [Line items]
INCOME FROM CONSTRUCTION OPERATIONS	(15,828)	(14,863)	(30,702)	(30,269)
Capital expenditures	271	124	325	478
Depreciation and amortization	$ 2,820	$ 2,887	$ 5,788	$ 5,751

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, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Business Segments [Abstract]
Income from construction operations	$ 34,045	$ 48,829	$ 71,062	$ 88,951
Other income, net	40,990	2,485	41,406	3,166
Interest expense	(22,519)	(15,534)	(38,083)	(29,614)
INCOME BEFORE INCOME TAXES	$ 52,516	$ 35,780	$ 74,385	$ 62,503

Business Segments (Schedule of

Business Segments (Schedule of Assets by Segment) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Reportable segment information
Total Assets	$ 4,164,866	$ 4,038,620
Civil [Member]
Reportable segment information
Total Assets	2,311,858	2,152,123
Building [Member]
Reportable segment information
Total Assets	878,501	917,317
Specialty Contractors [Member]
Reportable segment information
Total Assets	844,919	813,851
Corporate and Other [Member]
Reportable segment information
Total Assets	$ 129,588	$ 155,329

Related Party Transactions (Det

Related Party Transactions (Details) - O&G [Member]	6 Months Ended
	Jun. 30, 2017agreement
Purple Line Segment 2 Expansion Project [Member]
Related Party Transaction, Due from (to) Related Party [Abstract]
Number of joint ventures	1
Ownership percentage in joint venture	75.00%
Related party's ownership percentage in joint venture	25.00%
: Infrastructure Projects [Member]
Related Party Transaction, Due from (to) Related Party [Abstract]
Number of joint ventures	2
Infrastructure Project 1 [Member]
Related Party Transaction, Due from (to) Related Party [Abstract]
Construction project, percentage complete	99.00%
Infrastructure Project 2 [Member]
Related Party Transaction, Due from (to) Related Party [Abstract]
Construction project, percentage complete	100.00%