Union Plans—Various subsidiaries are signatories to collective bargaining agreements. These agreements require that we participate in and contribute to a number of multiemployer benefit plans for our union employees at rates determined by the agreements. The trustees for each multiemployer plan determine the eligibility and allocations of contributions and benefit amounts, determine the types of benefits and administer the plan.

We contributed $41.0 million, $48.8 million, and $46.9 million, to multiemployer pension plans for the years ended December 31, 2019, 2018 and 2017, respectively. These costs were charged to the related construction contracts in process. Contributions during 2019 decreased from 2018 as a result of a decrease in the number of man-hours worked by our union labor.

The financial risks of participating in multiemployer plans are different from single-employer plans in the following respects:

Under U.S. legislation regarding multiemployer pension plans, an employer is required to pay an amount that represents its proportionate share of a plan’s unfunded vested benefits in the event of withdrawal from a plan or upon plan termination.

We participate in a number of multiemployer pension plans, and our potential withdrawal obligation may be significant. Any withdrawal liability would be recorded when it is probable that a liability exists and can be reasonably estimated, in accordance with GAAP. We have no plans to withdraw from any labor agreements.

During the last three years, we made annual contributions to 33 pension plans. Based upon the most recent and available plan financial information, we made contributions to the Southern California Pipetrades Trust Funds that represented more than 5.0% of the plan’s total contributions for the 2018 plan year. None of the other significant pension plans we contributed to below listed us in the plan’s Form 5500 as providing more than 5.0% of the plan’s total contributions during the years ended December 31, 2019, 2018, and 2017.

Our participation in significant plans for the years ended December 31, 2019, 2018 and 2017 is outlined in the table below. The “EIN/Pension Plan Number” column provides the Employer Identification Number (“EIN”) and the three digit plan number. The “Zone Status” is based on the latest information that we received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending or has been implemented. The “Surcharge Imposed” column includes plans in a red zone status that require a payment of a surcharge in excess of regular contributions. The next column lists the expiration date of our collective bargaining agreement related to the plan.

Collective

FIP/RP

Bargaining

EIN /

Pension Protection Act

Status

Agreement

Pension Plan

Zone Status

Pending /

Surcharge

Expiration

Contributions of the Company

Pension Fund Name

Number

2019

2018

Implemented

Imposed

Date

2019

2018

2017

Central Pension Fund of the International Union of Operating Engineers and Participating Employers

36-6052390/001

Green as of
February 1, 2018

Green as of
February 1, 2017

5/31/2020

6,572

6,643

7,562

Laborers International Union of North America National (Industrial) Pension Fund

52-6074345/001

Yellow as of
January 1, 2018

Red as of
January 1, 2017

5/31/2020

3,969

3,967

4,658

Plumbers & Pipefitters National Pension Fund

52-6152779/001

Yellow as of
July 1, 2019

Yellow as of
July 1, 2018

9/30/2022

3,659

3,686

2,548

Minnesota laborers Pension Fund

41-6159599/001

Green as of
January 1, 2018

Green as of
January 1, 2017

5/31/2020

3,108

2,565

2,137

Southern California Pipetrades Trust Funds

51-6108443/001

Green as of
January 1, 2018

Green as of
January 1, 2017

9/30/2022

3,078

5,122

3,219

Construction Laborers Pension Trust for Southern California

43-6159056/001

Green as of
January 1, 2018

Green as of
January 1, 2017

6/30/2022

2,886

2,873

2,393

Laborers Pension Trust Fund for Northern California

94-6277608/001

Green as of
June 1, 2018

Green as of
June 1, 2017

6/30/2023

2,823

3,793

2,945

Contributions to significant plans

26,095

28,649

25,462

Contributions to other multiemployer plans

14,905

20,141

21,473

Total contributions made

41,000

48,790

46,935