Contracts in Progress

3 Months Ended

Mar. 31, 2026

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]

Contracts in Progress

Contracts in Progress

The following table reflects the calculation of the net balance of contract assets and contract liabilities. Costs and estimated earnings on contracts in progress consist of the following (in thousands):

	March 31, 2026		December 31, 2025
Costs incurred on uncompleted contracts	$	500,265	$	489,795
Estimated contract earnings in excess of costs incurred	766,098		750,896
Estimated contract earnings to date	1,266,363		1,240,691
Less: billed to date	(1,223,158)		(1,198,144)
Net contract assets	$	43,205	$	42,547