$PRIM
Primoris Services Corp

2019 Q2 Form 10-Q Financial Statement

#000155837019007105 Filed on August 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $789.9M $648.8M
YoY Change 21.75% 2.79%
Cost Of Revenue $709.4M $577.4M
YoY Change 22.87% 5.61%
Gross Profit $80.53M $71.42M
YoY Change 12.76% -15.48%
Gross Profit Margin 10.19% 11.01%
Selling, General & Admin $48.72M $43.49M
YoY Change 12.03% -5.46%
% of Gross Profit 60.5% 60.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $21.70M $18.40M
YoY Change 17.93% 15.72%
% of Gross Profit 26.95% 25.76%
Operating Expenses $48.72M $43.49M
YoY Change 12.03% -5.46%
Operating Profit $31.81M $20.26M
YoY Change 57.0% -47.37%
Interest Expense $6.716M $3.191M
YoY Change 110.47% -267.95%
% of Operating Profit 21.11% 15.75%
Other Income/Expense, Net $177.0K -$771.0K
YoY Change -122.96%
Pretax Income $25.09M $17.90M
YoY Change 40.19% -51.1%
Income Tax $7.265M $3.705M
% Of Pretax Income 28.96% 20.7%
Net Earnings $17.79M $11.72M
YoY Change 51.83% -45.51%
Net Earnings / Revenue 2.25% 1.81%
Basic Earnings Per Share $0.35 $0.23
Diluted Earnings Per Share $0.35 $0.23
COMMON SHARES
Basic Shares Outstanding 50.91M 51.53M
Diluted Shares Outstanding 51.23M 51.79M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.10M $139.4M
YoY Change -61.19% 24.8%
Cash & Equivalents $54.11M $174.9M
Short-Term Investments
Other Short-Term Assets $30.10M $75.60M
YoY Change -60.19% 344.71%
Inventory
Prepaid Expenses
Receivables $888.1M $736.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $972.3M $951.5M
YoY Change 2.19% 38.91%
LONG-TERM ASSETS
Property, Plant & Equipment $377.1M $356.8M
YoY Change 5.7% 15.47%
Goodwill $215.1M
YoY Change
Intangibles $75.52M
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.198M $14.50M
YoY Change -64.15% 806.25%
Total Long-Term Assets $852.9M $662.5M
YoY Change 28.73% 29.27%
TOTAL ASSETS
Total Short-Term Assets $972.3M $951.5M
Total Long-Term Assets $852.9M $662.5M
Total Assets $1.825B $1.614B
YoY Change 13.09% 34.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $218.3M $219.2M
YoY Change -0.43% 63.46%
Accrued Expenses $203.2M $120.8M
YoY Change 68.24% 11.23%
Deferred Revenue $197.8M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $64.65M $65.40M
YoY Change -1.15% 12.37%
Total Short-Term Liabilities $687.0M $613.5M
YoY Change 11.98% 30.17%
LONG-TERM LIABILITIES
Long-Term Debt $347.4M $354.9M
YoY Change -2.11% 93.62%
Other Long-Term Liabilities $41.45M $68.50M
YoY Change -39.48% 490.52%
Total Long-Term Liabilities $388.9M $423.4M
YoY Change -8.16% 117.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $687.0M $613.5M
Total Long-Term Liabilities $388.9M $423.4M
Total Liabilities $1.204B $1.049B
YoY Change 14.86% 54.44%
SHAREHOLDERS EQUITY
Retained Earnings $474.7M
YoY Change
Common Stock $146.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $620.6M $565.5M
YoY Change
Total Liabilities & Shareholders Equity $1.825B $1.614B
YoY Change 13.09% 34.78%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $17.79M $11.72M
YoY Change 51.83% -45.51%
Depreciation, Depletion And Amortization $21.70M $18.40M
YoY Change 17.93% 15.72%
Cash From Operating Activities -$24.40M -$4.400M
YoY Change 454.55% -106.55%
INVESTING ACTIVITIES
Capital Expenditures -$42.50M -$27.00M
YoY Change 57.41% 5.88%
Acquisitions
YoY Change
Other Investing Activities $16.80M -$98.90M
YoY Change -116.99% 55.75%
Cash From Investing Activities -$25.70M -$125.9M
YoY Change -79.59% 41.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 29.70M 171.2M
YoY Change -82.65% -1241.33%
NET CHANGE
Cash From Operating Activities -24.40M -4.400M
Cash From Investing Activities -25.70M -125.9M
Cash From Financing Activities 29.70M 171.2M
Net Change In Cash -20.40M 40.90M
YoY Change -149.88% -211.14%
FREE CASH FLOW
Cash From Operating Activities -$24.40M -$4.400M
Capital Expenditures -$42.50M -$27.00M
Free Cash Flow $18.10M $22.60M
YoY Change -19.91% -75.62%

Facts In Submission

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us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Note 1—Nature of Business</b></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Organization and operations</span> <b style="font-weight:bold;">—</b> Primoris Services Corporation is a holding company of various construction and product engineering subsidiaries. We are incorporated in the State of Delaware, and our corporate headquarters are located at 2300 N. Field Street, Suite 1900, Dallas, Texas 75201. Unless specifically noted otherwise, as used throughout these consolidated financial statements, “Primoris”, “the Company”, “we”, “our”, “us” or “its” refers to the business, operations and financial results of the Company and its wholly-owned subsidiaries.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Reportable Segments </span>— We segregate our business into five<span style="white-space:pre-wrap;"> reportable segments: the Power, Industrial and Engineering (“Power”) segment, the Pipeline and Underground (“Pipeline”) segment, the Utilities and Distribution (“Utilities”) segment, the Transmission and Distribution (“Transmission”) segment, and the Civil segment. See Note 18 – “</span><i style="font-style:italic;">Reportable Segments</i>” for a brief description of the reportable segments and their operations.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;">The classification of revenue and gross profit for segment reporting purposes can at times require judgment on the part of management. Our segments may perform services across industries or perform joint services for customers in multiple industries. 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Willbros is a specialty energy infrastructure contractor serving the oil and gas and power industries through its utility transmission and distribution, oil and gas, and Canadian operations, which principally provides unit-price maintenance services in existing operating facilities and executes industrial and power projects. The utility transmission and distribution operations formed the Transmission segment, the oil and gas operations are included in the Pipeline segment, and the Canadian operations are included in the Power segment. See Note 5— “<i style="font-style:italic;">Business Combinations</i>”.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Joint Ventures </span>— We own a 50<span style="white-space:pre-wrap;">% interest in the Carlsbad Power Constructors joint venture (“Carlsbad”), which engineered and constructed a gas-fired power generation facility located in Southern California, and its operations are included as part of the Power segment. As a result of determining that we are the primary beneficiary of the variable interest entity (“VIE”), the results of the Carlsbad joint venture are consolidated in our financial statements. The project was substantially complete as of December 31, 2018 and the warranty period expires in December 2020. </span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;">We owned a 50% interest in the “ARB Inc. &amp; B&amp;M Engineering Co.” joint venture (“Wilmington”), which engineered and constructed a gas-fired power generation facility in Southern California, and its operations were included as part of the Power segment. As a result of determining that we were the primary beneficiary of the VIE, the results of the Wilmington joint venture were consolidated in our financial statements. The project has been completed, the project warranty period expired, and dissolution of the joint venture was completed in the first quarter of 2019.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;">Financial information for the joint ventures is presented in Note 11 – <i style="font-style:italic;">“Noncontrolling Interests</i>”. </p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Concentration Risk Credit Risk
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<p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Customer concentration</span> — We operate in multiple industry segments encompassing the construction of commercial, industrial and public works infrastructure assets primarily throughout the United States. Typically, the top ten customers in any one calendar year generate revenue that is approximately 50% of total revenue; however, the group that comprises the top ten customers varies from year to year.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;">During the three and six months ended June 30, 2019, revenue generated by the top ten customers was approximately $372.4 million and $696.5 million, respectively, which represented 47.1% and 48.0%, respectively of total revenue during the period. During the three and six months ended June 30, 2019, a Midwest utility customer represented 8.0% and 6.7% of total revenue, respectively, and an electric utility customer represented 7.6% and 8.3% of total revenue, respectively.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;">During the three and six months ended June 30, 2018, revenue generated by the top ten customers was approximately $322.6 million and $581.6 million, respectively, which represented 50.4% and 49.7%, respectively, of total revenue during the period. During the three and six months ended June 30, 2018, a state department of transportation customer represented 9.4% and 9.3% of total revenue, respectively, and a California utility customer represented 8.7% and 9.0% of total revenue, respectively.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;">At June 30, 2019, approximately 8.7% of our accounts receivable was due from one customer, and that customer provided 8.3% of our revenue for the six months ended June 30, 2019.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;">On January 29, 2019, one of our utility customers filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. As of June 30, 2019, the utility customer comprised approximately 14.0<span style="white-space:pre-wrap;">% of our total accounts receivable. In addition to accounts receivable, there is approximately $15.8 million in unbilled revenue, net as of June 30, 2019. For the three and six months ended June 30, 2019, the customer accounted for approximately 5.9% and 5.7%, respectively, of our total revenue. A portion of the accounts receivable balance is past due, but we do not believe a reserve for the accounts receivable and unbilled revenue is appropriate at this time. However, we will closely monitor our current and future potential exposure.</span></p>
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prim Concentration Risk Number Of Top Customers
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prim Business Acquisition Pro Forma Weighted Average Number Of Diluted Shares Outstanding
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prim Revenue Remaining Performance Obligation Expected Timing Percentage
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CY2019Q2 us-gaap Contract With Customer Liability Current
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us-gaap Contract With Customer Liability Revenue Recognized
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CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
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CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
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CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
7577000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
6416000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
5581000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
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CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
75516000
CY2019Q2 prim Contract With Customer Accounts Payable Due To Subcontractors
ContractWithCustomerAccountsPayableDueToSubcontractors
9500000
CY2018Q4 prim Contract With Customer Accounts Payable Due To Subcontractors
ContractWithCustomerAccountsPayableDueToSubcontractors
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CY2019Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
78630000
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EmployeeRelatedLiabilitiesCurrent
60509000
CY2019Q2 us-gaap Operating Lease Liability Current
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59371000
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12245000
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AccruedInsuranceCurrent
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CY2019Q2 us-gaap Taxes Payable Current
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12432000
CY2018Q4 us-gaap Taxes Payable Current
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CY2019Q2 us-gaap Other Accrued Liabilities Current
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CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
30754000
CY2019Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
203235000
CY2018Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
117527000
CY2019Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
369158000
CY2019Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
894000
CY2018Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
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CY2019Q2 us-gaap Long Term Debt
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LongTermDebt
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CY2018Q4 us-gaap Long Term Debt Current
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CY2019Q2 us-gaap Long Term Debt Noncurrent
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DebtWeightedAverageInterestRate
0.042
CY2018Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.041
prim Number Of Instruments Used For Trading
NumberOfInstrumentsUsedForTrading
0
CY2019Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
7023000
CY2018Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
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CY2019Q2 us-gaap Cash
Cash
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472946000
CY2019Q2 us-gaap Contract With Customer Asset Net Current
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415142000
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AccountsPayableCurrent
218263000
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ContractWithCustomerLiabilityCurrent
197785000
CY2018Q4 us-gaap Cash
Cash
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372695000
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364245000
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249217000
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189539000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.280
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.175
prim Effective Income Tax Rate Continuing Operations After Minority Interest
EffectiveIncomeTaxRateContinuingOperationsAfterMinorityInterest
0.290
prim Effective Income Tax Rate Continuing Operations After Minority Interest
EffectiveIncomeTaxRateContinuingOperationsAfterMinorityInterest
0.240
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
prim Income Tax Period Of Statute Of Limitations Of State And Foreign Jurisdictions Minimum
IncomeTaxPeriodOfStatuteOfLimitationsOfStateAndForeignJurisdictionsMinimum
P3Y
prim Income Tax Period Of Statute Of Limitations Of State And Foreign Jurisdictions Maximum
IncomeTaxPeriodOfStatuteOfLimitationsOfStateAndForeignJurisdictionsMaximum
P5Y
CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.060
CY2018Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.060
CY2018Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.060
CY2018Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.060
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.060
CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.060
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
17787000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
11715000
us-gaap Net Income Loss
NetIncomeLoss
19734000
us-gaap Net Income Loss
NetIncomeLoss
12403000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50912000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51531000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50841000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51505000
prim Incremental Common Shares Attributable To Shares Issued To Independent Directors Under Share Based Payment Arrangements
IncrementalCommonSharesAttributableToSharesIssuedToIndependentDirectorsUnderShareBasedPaymentArrangements
4000
prim Incremental Common Shares Attributable To Shares Issued To Independent Directors Under Share Based Payment Arrangements
IncrementalCommonSharesAttributableToSharesIssuedToIndependentDirectorsUnderShareBasedPaymentArrangements
3000
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
316000
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
262000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
363000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
262000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51228000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51793000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51208000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51770000
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
us-gaap Lease Practical Expedients Package
LeasePracticalExpedientsPackage
true
us-gaap Lease Practical Expedient Use Of Hindsight
LeasePracticalExpedientUseOfHindsight
true
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
17654000
CY2018Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
9836000
us-gaap Operating Lease Cost
OperatingLeaseCost
34167000
us-gaap Operating Lease Cost
OperatingLeaseCost
16668000
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
59371000
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
124894000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
184265000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
34410000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
59102000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
43333000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
28180000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
19534000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
16950000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
201509000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
17244000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
184265000
us-gaap Operating Lease Payments
OperatingLeasePayments
34924000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0445
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
5
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
789929000
CY2019Q2 prim Revenue Percentage
RevenuePercentage
1.000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
648787000
CY2018Q2 prim Revenue Percentage
RevenuePercentage
1.000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1451487000
prim Revenue Percentage
RevenuePercentage
1.000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1152906000
prim Revenue Percentage
RevenuePercentage
1.000
CY2019Q2 us-gaap Gross Profit
GrossProfit
80531000
CY2019Q2 prim Gross Profit As Percentage Of Segment Revenue
GrossProfitAsPercentageOfSegmentRevenue
0.102
CY2018Q2 us-gaap Gross Profit
GrossProfit
71419000
CY2018Q2 prim Gross Profit As Percentage Of Segment Revenue
GrossProfitAsPercentageOfSegmentRevenue
0.110
us-gaap Gross Profit
GrossProfit
132991000
prim Gross Profit As Percentage Of Segment Revenue
GrossProfitAsPercentageOfSegmentRevenue
0.092
us-gaap Gross Profit
GrossProfit
115979000
prim Gross Profit As Percentage Of Segment Revenue
GrossProfitAsPercentageOfSegmentRevenue
0.101

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