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Business Segment Data (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Information on the Company’s segments was as follows:
Three months ended,
September 30, 2024September 30, 2023
E&M
T&D
E&M
T&D
(In thousands)
External operating revenues
$534,741 $226,244 $514,378 $203,028 
Elimination operating revenues
2,154 2,260 2,555 1,400 
Depreciation and amortization expense
1,618 4,753 1,557 4,412 
Operating income
34,943 25,258 31,076 23,015 
Interest expense (benefit)
(54)982 1,391 1,367 
Income tax expense
9,806 6,249 7,509 5,587 
Capital expenditures*
$2,701 $15,256 $823 $6,583 
__________________
*Capital expenditures for the three months ended September 30, 2024 and 2023 included noncash transactions for capital expenditure-related Accounts payable.
Nine months ended,
September 30, 2024September 30, 2023
E&M
T&D
E&M
T&D
(In thousands)
External operating revenues
$1,476,151 $613,896 $1,672,948 $545,724 
Elimination operating revenues
5,627 9,881 7,262 3,727 
Depreciation and amortization expense
4,794 13,848 4,643 12,697 
Operating income
100,771 60,082 100,268 51,314 
Interest expense
117 3,030 4,645 3,239 
Income tax expense
28,478 14,596 25,214 11,996 
Capital expenditures*
$5,641 $28,726 $3,714 $23,983 
__________________
*Capital expenditures for the nine months ended September 30, 2024 and 2023 included noncash transactions for capital expenditure-related Accounts payable.
Reconciliation of Revenue from Segments to Consolidated
A reconciliation of reportable segment operating revenues to consolidated operating revenues was as follows:
Three months ended September 30, Nine months ended September 30,
2024202320242023
(In thousands)
E&M operating revenue
$536,895 $516,933 $1,481,778 $1,680,210 
T&D operating revenue
228,504 204,428 623,777 549,451 
Total reportable segment operating revenues
765,399 721,361 2,105,555 2,229,661 
Eliminations
(4,414)(3,955)(15,508)(10,989)
Total consolidated operating revenues
$760,985 $717,406 $2,090,047 $2,218,672 
Reconciliation of Assets from Segments to Consolidated
A reconciliation of reportable segment assets to consolidated assets was as follows:
September 30, 2024December 31, 2023
(In thousands)
E&M segment assets
$828,937 $712,691 
T&D segment assets
426,404 376,780 
Total reportable segment assets1,255,341 1,089,471 
Other assets44,832 43,628 
Elimination of receivables
(20,881)(22,517)
Total consolidated assets $1,279,292 $1,110,582 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
A reconciliation of reportable segment operating income to consolidated income before income taxes and income from equity method investments was as follows:
Three months ended September 30, Nine months ended September 30,
2024202320242023
(In thousands)
E&M operating income
$34,943 $31,076 $100,771 $100,268 
T&D operating income
25,258 23,015 60,082 51,314 
Total reportable segment operating income
60,201 54,091 160,853 151,582 
Other operating loss
(6,492)(4,000)(16,951)(11,963)
Interest expense
2,851 4,596 8,823 13,483 
Other income
1,071 1,208 3,683 2,705 
Total consolidated income before income taxes and income from equity method investments
$51,929 $46,703 $138,762 $128,841