Revenue (Tables)

12 Months Ended

Dec. 31, 2024

Revenue

Schedule of contract assets

Contract assets consist of the following (in thousands):

	December 31,		December 31,		December 31,
	2024		2023		2022
Unbilled revenue	$	492,252	$	604,166	$	420,511
Retention receivable		232,425		202,358		174,149
Contract materials (not yet installed)		49,059		39,652		21,564
	$	773,736	$	846,176	$	616,224

Schedule of contract liabilities

Contract liabilities consist of the following (in thousands):

	December 31,		December 31,		December 31,
	2024		2023		2022
Deferred revenue	$	614,328	$	363,159	$	269,853
Accrued loss provision		3,096		3,317		6,094
	$	617,424	$	366,476	$	275,947

Schedule of revenue disaggregation by various categories

MSA and Non-MSA revenue was as follows (in thousands):

	For the year ended December 31, 2024
Segment	MSA		Non-MSA		Total
Utilities	$	2,004,494	$	434,535	$	2,439,029
Energy		339,269		3,692,766		4,032,035
Intersegment eliminations		(562)		(103,664)		(104,226)
Total	$	2,343,201	$	4,023,637	$	6,366,838

	For the year ended December 31, 2023
Segment	MSA		Non-MSA		Total
Utilities	$	1,814,728	$	595,446	$	2,410,174
Energy		291,098		3,055,072		3,346,170
Intersegment eliminations		(6,529)		(34,506)		(41,035)
Total	$	2,099,297	$	3,616,012	$	5,715,309

	For the year ended December 31, 2022
Segment	MSA		Non-MSA		Total
Utilities	$	1,692,590	$	341,121	$	2,033,711
Energy		332,384		2,064,967		2,397,351
Intersegment eliminations		(1,987)		(8,476)		(10,463)
Total	$	2,022,987	$	2,397,612	$	4,420,599

Revenue by contract type was as follows (in thousands):

	For the year ended December 31, 2024
Segment	Fixed-price		Unit-price		Cost reimbursable (1)		Total
Utilities	$	334,170	$	1,542,824	$	562,035	$	2,439,029
Energy		2,584,459		663,776		783,800		4,032,035
Intersegment eliminations		(102,072)		(1,764)		(390)		(104,226)
Total	$	2,816,557	$	2,204,836	$	1,345,445	$	6,366,838

(1) Includes time and material and cost reimbursable plus fee contracts.

	For the year ended December 31, 2023
Segment	Fixed-price		Unit-price		Cost reimbursable (1)		Total
Utilities	$	396,794	$	1,497,915	$	515,465	$	2,410,174
Energy		2,236,540		585,629		524,001		3,346,170
Intersegment eliminations		(10,547)		(26,853)		(3,635)		(41,035)
Total	$	2,622,787	$	2,056,691	$	1,035,831	$	5,715,309

(1) Includes time and material and cost reimbursable plus fee contracts.

	For the year ended December 31, 2022
Segment	Fixed-price		Unit-price		Cost reimbursable (1)		Total
Utilities	$	193,710	$	1,335,716	$	504,285	$	2,033,711
Energy		1,696,776		407,068		293,507		2,397,351
Intersegment eliminations		(1,693)		(8,338)		(432)		(10,463)
Total	$	1,888,793	$	1,734,446	$	797,360	$	4,420,599

(1) Includes time and material and cost reimbursable plus fee contracts.