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Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Schedule of Changes in Benefit Obligations and Assets
The change in benefit obligations and assets of the UK Plan for the years ended December 31, 2021 and 2020 consisted of the following components (in thousands):
 20212020
Change in pension benefit obligation  
Benefit obligation at beginning of year$383,142 $322,766 
Interest cost5,326 6,401 
Actuarial (gain) loss(22,071)50,863 
Benefits paid(13,939)(10,029)
Foreign currency exchange rate changes(3,311)13,141 
Benefit obligation at end of year349,147 383,142 
Change in pension plan assets  
Fair value of plan assets at beginning of year347,411 307,001 
Actual return on plan assets21,809 34,380 
Employer contributions4,956 4,665 
Benefits paid(13,939)(10,029)
Foreign currency exchange rate changes(3,705)11,394 
Fair value of plan assets at end of year356,532 347,411 
Funded (unfunded) status at end of year$7,385 $(35,731)
Schedule of Weighted Average Assumptions Used To Calculate Benefit Obligation
The weighted average assumptions used to determine benefit obligations as of December 31, 2021 and 2020 were as follows:
 20212020
Discount rate1.8 %1.4 %
Schedule of Accumulated Benefit Obligations in Excess of Plan Assets
The below table shows certain information for the UK Plan, as of December 31, 2020, when the accumulated benefit obligation was in excess of plan assets (in thousands):
 December 31, 2020
Projected benefit obligation$383,142 
Accumulated benefit obligation$383,142 
Fair value of plan assets$347,411 
Components Of Net Periodic Pension Cost (Income)
The components of net periodic pension cost (income) of the UK Plan for the years ended December 31, 2021, 2020, and 2019 were as follows (in thousands):
 202120202019
Interest cost$5,326 $6,401 $7,961 
Expected return on plan assets(12,726)(12,023)(12,165)
Amortization of unrecognized loss3,642 2,389 2,342 
Net periodic pension cost (income)$(3,758)$(3,233)$(1,862)
Schedule of Weighted Average Assumptions Used To Calculate Net Periodic Pension Cost
The weighted average assumptions used to determine net periodic pension cost for the years ended December 31, 2021, 2020, and 2019 were as follows:
 202120202019
Discount rate1.4 %2.1 %2.9 %
Annual rate of return on plan assets3.9 %4.3 %4.9 %
Schedule of Net Periodic Benefit Cost Not yet Recognized
Amounts not yet reflected in net periodic pension cost and included in accumulated other comprehensive loss were as follows (in thousands):
 December 31, 2021December 31, 2020
Unrecognized actuarial losses$89,572 $125,020 
Schedule of Weighted Average Asset Allocations and Weighted Average Target Allocations The weighted average asset allocations and weighted average target allocations at December 31, 2021 and 2020 were as follows:
 
Asset CategoryTarget Asset
Allocation
2021 		Actual
December 31, 2021		Target Asset
Allocation
2020		Actual
December 31, 2020
Debt75.0 %76.0 %65.0 %63.0 %
Equity— %— %15.0 %12.7 %
Cash and cash equivalents15.0 %16.5 %10.0 %17.1 %
Real estate10.0 %7.5 %10.0 %7.2 %
Total100.0 %100.0 %100.0 %100.0 %
Schedule of Plan Assets Fair Value Hierarchy
The following tables set forth the fair value of assets of the UK Plan as of December 31, 2021 and 2020 (in thousands):
 Assets at Fair Value as of December 31, 2021
Asset Category    Level 1Level 2Level 3Total
Corporate debt funds$— $67,226 $— $67,226 
Government bond funds— 91,899 — 91,899 
Cash and cash equivalents58,772 — — 58,772 
Total plan assets in fair value hierarchy$58,772 $159,125 $— 217,897 
Plan assets measured using NAV as a practical expedient: (1)
Debt funds111,971 
Real estate funds26,664 
Total plan assets at fair value$356,532 
 Assets at Fair Value as of December 31, 2020
Asset Category    Level 1Level 2Level 3Total
Corporate debt funds$— $65,486 $— $65,486 
Government bond funds— 57,133 — 57,133 
Equity funds— 44,132 — 44,132 
Cash and cash equivalents59,246 — — 59,246 
Total plan assets in fair value hierarchy$59,246 $166,751 $— 225,997 
Plan assets measured using NAV as a practical expedient: (1)
Debt funds96,196 
Real estate funds25,218 
Total plan assets at fair value$347,411 
_________________
(1)Certain investments measured using net asset value (“NAV”) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the total fair value of plan assets.
Schedule of Expected Benefit Payments
The following estimated benefit payments are expected to be paid in the following years (in thousands):
 Pension
Benefit Payments
2022$11,266 
2023$11,171 
2024$11,525 
2025$12,099 
2026$12,545 
Succeeding five years$69,416 
Schedule of Multiemployer Plans
The following table lists all MEPPs to which our contributions exceeded $2.0 million in 2021. This table also lists all MEPPs to which we contributed in 2021 in excess of $0.5 million for MEPPs in the critical status, “red zone,” and $1.0 million for MEPPs in the endangered status, “orange or yellow zones,” as defined by the PPA (in thousands):
 




Pension FundEIN/Pension Plan Number
PPA Zone Status (1)
FIP/RP
Status
Contributions 
Contributions greater than 5% of total plan contributions (2)
Expiration
date or range of expiration dates of CBA(s)
20212020202120202019
National Automatic Sprinkler Industry Pension Fund52-6054620001GreenRedNA$20,987 $17,504 $15,924 YesMarch 2022 to
August 2025
United Association National Pension Fund (Formerly Plumbers & Pipefitters National Pension Fund)52-6152779001GreenYellowNA14,723 14,095 13,821 NoFebruary 2022 to
August 2026
National Electrical Benefit Fund53-0181657001GreenGreenNA12,310 11,573 16,901 NoApril 2022 to
May 2026
Pension, Hospitalization & Benefit Plan of the Electrical Industry-Pension Trust Account13-6123601001GreenGreenNA12,291 11,264 10,075 NoApril 2022 to June 2024
Sheet Metal Workers National Pension Fund52-6112463001YellowYellowImplemented10,307 11,621 11,713 NoMay 2022 to
July 2027
Electrical Workers Local No. 26 Pension Trust Fund52-6117919001GreenGreenNA9,346 7,086 8,434 YesMay 2022 to July 2024
Sheet Metal Workers Pension Plan of Northern California51-6115939001RedRedImplemented7,850 6,605 6,233 NoJune 2022 to June 2026
Plumbers Pipefitters & Mechanical Equipment Service Local Union 392 Pension Plan31-0655223001RedRedImplemented7,110 5,667 6,412 YesJune 2022
Central Pension Fund of the IUOE & Participating Employers36-6052390001GreenGreenNA6,627 6,115 6,253 NoMarch 2022 to
December 2024
Southern California Pipe Trades Retirement Fund51-6108443001GreenGreenNA6,272 4,043 3,274 NoJune 2022 to
August 2026
Pipefitters Union Local 537 Pension Fund51-6030859001GreenGreenNA5,922 4,275 4,754 YesFebruary 2022 to August 2025
Heating, Piping & Refrigeration Pension Fund52-1058013001GreenGreenNA5,591 3,349 4,185 NoJuly 2022
Southern California IBEW-NECA Pension Trust Fund95-6392774001YellowYellowImplemented4,876 5,719 6,277 NoJune 2022 to
May 2026
Edison Pension Plan93-6061681001GreenGreenNA4,229 3,864 5,361 YesDecember 2023
Electrical Contractors Association of the City of Chicago Local Union 134, IBEW Joint Pension Trust of Chicago Pension Plan 251-6030753002GreenGreenNA4,225 3,004 3,204 NoMay 2022 to June 2022
Arizona Pipe Trades Pension Trust Fund86-6025734001GreenGreenNA4,076 4,142 6,071 YesMay 2022 to June 2024
San Diego Electrical Pension Plan95-6101801001GreenGreenNA4,068 4,383 3,843 YesMay 2024
U.A. Local 393 Pension Trust Fund Defined Benefit94-6359772002GreenGreenNA3,507 3,168 3,858 YesJune 2022 to June 2024
Boilermaker-Blacksmith National Pension Trust48-6168020001YellowYellowImplemented3,479 1,574 1,681 NoApril 2022 to September 2024
Sheet Metal Workers Pension Plan of Southern California, Arizona & Nevada95-6052257001YellowYellowImplemented3,322 2,706 2,423 NoJune 2022 to June 2026
Eighth District Electrical Pension Fund84-6100393001GreenGreenNA3,298 3,242 3,590 YesMay 2023 to August 2024
Northern California Pipe Trades Pension Plan94-3190386001GreenGreenNA2,663 2,463 3,077 NoJune 2022 to June 2024
NOTE 14 - RETIREMENT PLANS (Continued)
Pension FundEIN/Pension Plan Number
PPA Zone Status (1)
FIP/RP
Status
Contributions 
Contributions greater than 5% of total plan contributions (2)
Expiration
date or range of expiration dates of CBA(s)
20212020202120202019
Atlanta Plumbers and Steamfitters Pension Fund58-1233396001GreenGreenNA2,496 1,576 310 YesMay 2022 to January 2025
NECA-IBEW Pension Trust Fund51-6029903001GreenGreenNA2,491 2,369 2,528 NoMay 2022 to December 2022
IBEW 332 Pension Fund - Part A94-2688032004GreenGreenNA2,339 1,211 1,633 NoMay 2024
U.A. Plumbers Local 24 Pension Fund22-6042823001GreenGreenNA2,270 2,460 2,460 YesApril 2025
IBEW Local 595 Pension Plan94-6279541001GreenGreenNA2,042 569 1,653 NoNovember 2022 to
May 2023
Plumbing & Pipe Fitting Local 219 Pension Fund34-6682376001RedRedImplemented1,167 1,680 1,937 YesMay 2022 to May 2025
Plumbers & Pipefitters Local 162 Pension Fund31-6125999001YellowYellowImplemented1,034 969 1,124 YesMay 2022
Steamfitters Local Union No. 420 Pension Plan23-2004424001RedRedImplemented677 553 641 NoMay 2022 to April 2024
South Florida Electrical Workers Pension Plan and Trust59-6230530001RedRedImplemented594 261 323 NoAugust 2022
Carpenters Pension Trust Fund for Northern California94-6050970001RedRedImplemented568 385 435 NoJune 2023
Other Multiemployer Pension Plans    55,315 54,587 55,070  Various
Total Contributions    $228,072 $204,082 $215,478   
 _________________
(1)    The zone status represents the most recent available information for the respective MEPP, which may be 2020 or earlier for the 2021 year and 2019 or earlier for the 2020 year. In general, plans with a “green” zone status have a funding ratio of at least 80%, plans with an “orange” or “yellow” zone status have a funding ratio of between 65% and less than 80%, and plans with a “red” zone status are less than 65% funded.
(2)    This information was obtained from the respective plan’s Form 5500 (“Forms”) for the most current available filing. These dates may not correspond with our fiscal year contributions. The percentages of contributions are based upon disclosures contained in the plans’ Forms. Those Forms, among other things, disclose the names of individual participating employers whose annual contributions account for more than 5% of the aggregate annual amount contributed by all participating employers for a plan year. Accordingly, if the annual contribution of two or more of our subsidiaries each accounted for less than 5% of such contributions, but in the aggregate accounted for in excess of 5% of such contributions, that greater percentage is not available and accordingly is not disclosed.