Primoris Services Corporation (PRIM) financial statements (2020 and earlier)

Company profile

Business Address 2300 N. FIELD STREET, SUITE 1900
DALLAS, TX 75201
State of Incorp. DE
Fiscal Year End December 31
SIC 1623 - Water, Sewer, Pipeline, and Communications and Power Line Construction (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments120151170136161170215
Cash and cash equivalents120151170136161139196
Short-term investments     3119
Restricted cash and investments  1030 
Receivables405373358388321337305
Inventory, net of allowances, customer advances and progress billings  4149685852
Inventory  4149685852
Contract with customer, asset345364
Costs in excess of billings1601391166957
Other undisclosed current assets43361319184531
Total current assets:913924743731687680660
Noncurrent Assets
Operating lease, right-of-use asset242
Property, plant and equipment376376312277284271227
Intangible assets, net (including goodwill)285287198160161159164
Goodwill215206153127124119119
Intangible assets, net (excluding goodwill)70814533364045
Regulated entity, other noncurrent assets 1     
Deferred income tax assets1
Other noncurrent assets13532000
Deferred tax assets, net   1  
Other undisclosed noncurrent assets 0     
Total noncurrent assets:918670513439445431391
TOTAL ASSETS:1,8301,5941,2561,1711,1321,1111,051
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities422370255279221255268
Accounts payable236249141168124129127
Accrued liabilities184118111108948391
Employee-related liabilities     3737
Taxes payable     413
Interest and dividends payable333332 
Deferred revenue192
Debt56626658554132
Provision for loss on contracts     21
Self insurance reserve     2221
Business combination, contingent consideration, liability  1  6
Billings in excess of cost159113140159173
Contract with customer, liability190
Other undisclosed current liabilities     (66)(65)
Total current liabilities:670622481450416419430
Noncurrent Liabilities
Long-term debt and lease obligation467306194203220205193
Long-term debt, excluding current maturities296306193203220204191
Capital lease obligations 00012
Operating lease, liability171
Liabilities, other than long-term debt64601919133324
Deferred tax liabilities, net81410 1910
Deferred income tax liabilities18
Other liabilities465269131314
Business combination, contingent consideration, liability     1
Other undisclosed noncurrent liabilities      4
Total noncurrent liabilities:530365213222233238222
Total liabilities:1,201987694672649657652
Stockholders' equity
Stockholders' equity attributable to parent629604556497483454397
Common stock0000000
Additional paid in capital97144161162163160159
Accumulated other comprehensive income (loss)0(1)     
Retained earnings531461396335320294238
Stockholders' equity attributable to noncontrolling interest13610(0)1
Total stockholders' equity:630607562499483454398
TOTAL LIABILITIES AND EQUITY:1,8301,5941,2561,1711,1321,1111,051

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues3,1062,9392,3801,9971,9292,0861,944
Revenue, net2,3801,9971,9292,0861,944
Cost of revenue
(Cost of Goods and Services Sold)
(2,775) (2,102)(1,796)(1,710)(1,850)(1,688)
Other undisclosed gross profit (2,614)     
Gross profit:331326278201220236256
Operating expenses(190)(195)(172)(141)(152)(138)(138)
Other undisclosed operating income (loss)   (3) 67
Operating income:1411301065868104125
Nonoperating income (expense)(3)2701(0)5
Investment income, nonoperating1260000
Foreign currency transaction gain (loss), before tax(1)100(1)00
Other nonoperating income (expense)(3)(1)0(0)2(1)5
Interest and debt expense(20)(19)(8)(9)(8)(6)(6)
Income from continuing operations before equity method investments, income taxes:118113105496197124
Income (loss) from equity method investments     5(5)
Income from continuing operations before income taxes:1181131054961102120
Income tax expense(34)(26)(28)(21)(24)(39)(45)
Net income:84887728376475
Net loss attributable to noncontrolling interest(2)(10)(4)(1)(0)(1)(5)
Net income available to common stockholders, diluted:82777227376370

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:84887728376475
Other undisclosed comprehensive income (loss)1(1)     
Comprehensive income:85877728376475
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(2)(10)(4)(1)(0)(1)5
Comprehensive income, net of tax, attributable to parent:83777227376380

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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