Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contracts with Customers

Schedule of disaggregation of revenue

See details in the following tables (dollars in thousands):

	Three Months Ended March 31,
Revenue by Service Provided	2024				2023
Mechanical Segment	$	1,185,009	77.1	%	$	918,615	78.2	%
Electrical Segment		352,007	22.9	%		256,025	21.8	%
Total	$	1,537,016	100.0	%	$	1,174,640	100.0	%
	Three Months Ended March 31,
Revenue by Type of Customer	2024				2023
Manufacturing	$	461,400	30.0	%	$	366,356	31.2	%
Technology		464,814	30.2	%		226,249	19.3	%
Healthcare		133,729	8.7	%		159,815	13.5	%
Education		133,983	8.7	%		110,253	9.4	%
Office Buildings		101,892	6.6	%		98,195	8.4	%
Retail, Restaurants and Entertainment		80,585	5.2	%		76,194	6.5	%
Government		87,801	5.7	%		64,415	5.5	%
Multi-Family and Residential		40,851	2.7	%		45,007	3.8	%
Other		31,961	2.2	%		28,156	2.4	%
Total	$	1,537,016	100.0	%	$	1,174,640	100.0	%
	Three Months Ended March 31,
Revenue by Activity Type	2024				2023
New Construction	$	898,976	58.5	%	$	627,952	53.5	%
Existing Building Construction		390,369	25.4	%		309,483	26.3	%
Service Projects		104,114	6.8	%		103,105	8.8	%
Service Calls, Maintenance and Monitoring		143,557	9.3	%		134,100	11.4	%
Total	$	1,537,016	100.0	%	$	1,174,640	100.0	%

Schedule of contract assets and liabilities

Contract assets and liabilities in the Consolidated Balance Sheet consisted of the following amounts as of March 31, 2024 and December 31, 2023 (in thousands):

	March 31, 2024		December 31, 2023
Contract assets:
Costs and estimated earnings in excess of billings, less allowance for credit losses	$	30,118	$	28,084
Contract liabilities:
Billings in excess of costs and estimated earnings and deferred revenue	$	1,131,928	$	909,538