XML 39 R18.htm IDEA: XBRL DOCUMENT v3.20.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2020
Summary of Significant Accounting Policies  
Schedule of disaggregation of revenue

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Three Months Ended March 31,

Revenue by Service Provided

   

   

2020

​

   

2019

​

Mechanical Services

​

​

$

565,464

   

80.8

%

​

$

534,585

   

99.3

%

Electrical Services

​

​

​

134,667

​

19.2

%

​

​

3,888

​

0.7

%

Total

​

​

$

700,131

​

100.0

%

​

$

538,473

​

100.0

%

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended March 31,

Revenue by Type of Customer

​

​

2020

​

​

2019

 

Industrial

​

​

$

275,198

​

39.3

%

​

$

168,660

​

31.3

%

Education

​

​

​

109,584

​

15.7

%

​

​

66,743

​

12.4

%

Office Buildings

​

​

​

75,572

​

10.8

%

​

​

66,212

​

12.3

%

Healthcare

​

​

​

99,259

​

14.2

%

​

​

92,023

​

17.1

%

Government

​

​

​

38,981

​

5.6

%

​

​

32,279

​

6.0

%

Retail, Restaurants and Entertainment

​

​

​

61,203

​

8.7

%

​

​

59,391

​

11.0

%

Multi-Family and Residential

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​

​

18,731

​

2.7

%

​

​

30,235

​

5.6

%

Other

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​

​

21,603

​

3.0

%

​

​

22,930

​

4.3

%

Total

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​

$

700,131

​

100.0

%

​

$

538,473

​

100.0

%

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​

​

​

​

​

​

​

​

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​

​

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Three Months Ended March 31,

Revenue by Activity Type

​

​

2020

​

​

2019

 

New Construction

​

​

$

347,400

​

49.6

%

​

$

223,960

​

41.6

%

Existing Building Construction

​

​

​

207,166

​

29.6

%

​

​

182,296

​

33.8

%

Service Projects

​

​

​

51,648

​

7.4

%

​

​

50,384

​

9.4

%

Service Calls, Maintenance and Monitoring

​

​

​

93,917

​

13.4

%

​

​

81,833

​

15.2

%

Total

​

​

$

700,131

​

100.0

%

​

$

538,473

​

100.0

%

Schedule of activity in allowance for credit losses

Activity in our allowance for credit losses consisted of the following (in thousands):

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​

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​

​

​

​

Service

​

Construction

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Other

​

Total

Balance at beginning of year

$

3,192

​

$

3,400

​

$

315

​

$

6,907

Impact of new accounting standard

​

310

​

​

331

​

​

54

​

​

695

Bad debt expense (benefit)

​

2,754

​

​

1,797

​

​

—

​

​

4,551

Deductions for uncollectible receivables written off, net of recoveries

​

(234)

​

​

(6)

​

​

—

​

​

(240)

Credit allowance of acquired companies on the acquisition date

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—

​

​

352

​

​

—

​

​

352

Purchase accounting adjustments

​

—

​

​

72

​

​

—

​

​

72

Reclass to other current liabilities

​

—

​

​

—

​

​

(315)

​

​

(315)

Balance at March 31, 2020

$

6,022

​

$

5,946

​

$

54

​

$

12,022

Schedule of contract assets and liabilities

The following table presents the changes in contract assets and contract liabilities (in thousands):

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​

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​

​

​

​

​

​

​

Three Months Ended March 31,

​

​

Year Ended December 31,

​

2020

​

2019

​

Contract

    

Contract

​

Contract

    

Contract

​

Assets

​

Liabilities

​

Assets

​

Liabilities

Balance at beginning of period

$

2,736

​

$

166,918

​

$

10,213

​

$

130,986

Change due to acquisitions / disposals

​

436

​

​

12,851

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​

6,573

​

​

31,556

Change due to conditional versus unconditional

​

4,394

​

​

—

​

​

(14,050)

​

​

—

Change in timing for performance obligation to be satisfied

​

—

​

​

35,337

​

​

—

​

​

4,376

Change related to credit allowance

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(25)

​

​

—

​

​

—

​

​

—

Balance at end of period

$

7,541

​

$

215,106

​

$

2,736

 

$

166,918

​

Schedule of lease assets and liabilities

The following table summarizes the lease assets and liabilities included in the consolidated Balance Sheet as follows (in thousands):

​

​

​

​

​

​

​

​

March 31, 2020

​

December 31, 2019

Lease right-of-use assets

$

82,301

​

$

84,073

Lease liabilities:

​

​

​

​

​

Other current liabilities

​

14,515

​

​

14,016

Long-term lease liabilities

​

70,410

​

​

72,697

Total lease liabilities

$

84,925

​

$

86,713

Schedule of maturities of lease liabilities

The maturities of lease liabilities are as follows (in thousands):

​

​

​

​

​

Year ending December 31—

​

​

​

2020 (excluding the three months ended March 31, 2020)

​

$

13,376

2021

​

​

15,511

2022

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​

13,261

2023

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​

10,945

2024

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​

9,436

Thereafter

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​

36,982

Total Lease Payments

​

​

99,511

Less—Present Value Discount

​

​

(14,586)

Present Value of Lease Liabilities

​

$

84,925

Schedule of supplemental information related to leases

Supplemental information related to leases was as follows (in thousands):

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​

​

​

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​

Three Months Ended March 31,

​

2020

​

2019

Cash paid for amounts included in the measurement of lease liabilities

$

4,473

​

$

3,778

Lease right-of-use assets obtained in exchange for lease liabilities

$

2,278

​

$

174