Primoris Services Corporation (PRIM) Financial Statements (2023 and Earlier)

Company Profile

Business Address 2300 N. FIELD STREET, SUITE 1900
DALLAS, TX 75201
State of Incorp. DE
Fiscal Year End December 31
Industry (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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments201327120151170136161
Cash and cash equivalents201327120151170136161
Restricted cash and investments    103
Receivables472432405373358388321
Inventory, net of allowances, customer advances and progress billings    414968
Inventory    414968
Contract with customer, asset424326345364
Costs in excess of billings160139116
Other undisclosed current assets86304336131918
Total current assets:1,1821,115913924743731687
Noncurrent Assets
Operating lease, right-of-use asset159207242
Property, plant and equipment433 376376312277284
Intangible assets, net (including goodwill)753276285287198160161
Goodwill582215215206153127124
Intangible assets, net (excluding goodwill)171617081453336
Regulated entity, other noncurrent assets   1   
Deferred income tax assets121
Other noncurrent assets1513135320
Deferred tax assets, net   1
Other undisclosed noncurrent assets 356 0   
Total noncurrent assets:1,361854918670513439445
TOTAL ASSETS:2,5431,9701,8301,5941,2561,1711,132
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities451449422370255279221
Accounts payable273246236249141168124
Accrued liabilities17520118411811110894
Interest and dividends payable3333333
Deferred revenue240267192
Debt67485662665855
Business combination, contingent consideration, liability    1  
Billings in excess of cost159113140
Contract with customer, liability190
Total current liabilities:759764670622481450416
Noncurrent Liabilities
Long-term debt and lease obligation692407467306194203220
Long-term debt, excluding current maturities594269296306193203220
Capital lease obligations 000
Operating lease, liability98138171
Liabilities, other than long-term debt102846460191913
Deferred tax liabilities, net81410 
Deferred income tax liabilities391418
Other liabilities637046526913
Total noncurrent liabilities:794490530365213222233
Total liabilities:1,5531,2551,201987694672649
Stockholders' equity
Stockholders' equity attributable to parent990715629604556497483
Common stock0000000
Additional paid in capital2628997144161162163
Accumulated other comprehensive income (loss)110(1)   
Retained earnings727625531461396335320
Stockholders' equity attributable to noncontrolling interest 013610
Total stockholders' equity:990715630607562499483
TOTAL LIABILITIES AND EQUITY:2,5431,9701,8301,5941,2561,1711,132

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues3,4983,4913,1062,9392,3801,9971,929
Revenue, net2,3801,9971,929
Cost of revenue
(Cost of Goods and Services Sold)
(3,081)(3,121)(2,775) (2,102)(1,796)(1,710)
Other undisclosed gross profit   (2,614)   
Gross profit:417370331326278201220
Operating expenses(247)(206)(190)(195)(172)(141)(152)
Other undisclosed operating loss     (3) 
Operating income:1701641411301065868
Nonoperating income (expense)02(3)2701
Investment income, nonoperating 012600
Foreign currency transaction gain (loss), before tax(0)0(1)100(1)
Other nonoperating income (expense)01(3)(1)0(0)2
Interest and debt expense (20)(20)(19)(8)(9)(8)
Income from continuing operations before equity method investments, income taxes:1701461181131054961
Other undisclosed loss from continuing operations before income taxes(18)      
Income from continuing operations before income taxes:1521461181131054961
Income tax expense(36)(41)(34)(26)(28)(21)(24)
Net income:1161058488772837
Net loss attributable to noncontrolling interest(0)(0)(2)(10)(4)(1)(0)
Net income available to common stockholders, diluted:1161058277722737

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:1161058488772837
Other undisclosed comprehensive income (loss)(0)11(1)   
Comprehensive income:1151068587772837
Comprehensive loss, net of tax, attributable to noncontrolling interest(0)(0)(2)(10)(4)(1)(0)
Comprehensive income, net of tax, attributable to parent:1151068377722737

Statements Sources

The financial statements are based on the Company's filings with 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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