Segments and Related Information (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Financial Information by Reportable Segment


	For the Three Months Ended March 31,
Revenue:	2021		2020
Communications (a)	$	568.6	$	644.1
Clean Energy and Infrastructure	350.4		286.3
Oil and Gas	725.5		359.1
Electrical Transmission	133.5		128.1
Other	0.0		0.0
Eliminations	(2.6)		(1.0)
Consolidated revenue	$	1,775.4	$	1,416.6

(a) Revenue generated primarily by utilities customers represented 20.1% and 15.2% of Communications segment revenue for the three month periods ended March 31, 2021 and 2020, respectively.


	For the Three Months Ended March 31,
EBITDA:	2021		2020
Communications	$	48.9	$	50.8
Clean Energy and Infrastructure	10.9		5.0
Oil and Gas	167.6		74.4
Electrical Transmission	3.6		8.3
Other	7.4		7.4
Corporate	(40.0)		(31.9)
Consolidated EBITDA	$	198.4	$	114.0


	For the Three Months Ended March 31,
Depreciation and Amortization:	2021		2020
Communications	$	21.8	$	19.7
Clean Energy and Infrastructure	7.6		4.0
Oil and Gas	52.1		28.1
Electrical Transmission	6.1		5.9
Other	0.0		0.0
Corporate	2.9		2.8
Consolidated depreciation and amortization	$	90.5	$	60.5

Reconciliation of Consolidated Income before Income Taxes to EBITDA


	For the Three Months Ended March 31,
EBITDA Reconciliation:	2021		2020
Income before income taxes	$	95.4	$	36.5
Plus:
Interest expense, net	12.5		17.0
Depreciation	79.3		53.1
Amortization of intangible assets	11.2		7.4
Consolidated EBITDA	$	198.4	$	114.0

Schedule of Revenue by Major Customers by Reporting Segments

Revenue concentration information for significant customers as a percentage of total consolidated revenue was as follows:


	For the Three Months Ended March 31,
Customer:	2021	2020
Enbridge, Inc. (a)	25%	1%
AT&T (b)	11%	24%

(a) The Company’s relationship with Enbridge, Inc. is based upon various construction contracts for pipeline activities, for which the related revenue is included within the Oil and Gas segment.

(b) The Company’s relationship with AT&T is based upon multiple separate master service and other service agreements, including for installation and maintenance services, as well as construction/installation contracts for AT&T’s: (i) wireless; (ii) wireline/fiber; and (iii) various install-to-the-home businesses. Revenue from AT&T is included within the Communications segment. The decrease in AT&T revenue for the three month period ended March 31, 2021 as compared with the same period in 2020 was primarily driven by lower levels of wireless services, including from the effects of the COVID-19 pandemic and temporary project timing delays related to recently completed 5G spectrum auctions.