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Revenue from Contracts with Customers (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of the Disaggregation of Revenue
The following tables present revenue disaggregated by contract type:
Year ended December 31, 2024
Electrical & MechanicalTransmission & Distribution
Total
(In thousands)
Fixed-price
$1,299,059 $385,868 $1,684,927 
Unit-price
61,964 155,599 217,563 
Cost reimbursable*
670,424 295,679 966,103 
Total contract revenues
2,031,447 837,146 2,868,593 
Eliminations(7,536)(11,372)(18,908)
Total operating revenues
$2,023,911 $825,774 $2,849,685 
__________________
*Includes time and material, time and equipment, and cost reimbursable plus fee contracts.
Year ended December 31, 2023
Electrical & MechanicalTransmission & Distribution
Total

(In thousands)
Fixed-price
$1,049,626 $353,836 $1,403,462 
Unit-price
81,786 94,794 176,580 
Cost reimbursable*
1,003,455 285,947 1,289,402 
Total contract revenues
2,134,867 734,577 2,869,444 
Eliminations(9,324)(5,730)(15,054)
Total operating revenues
$2,125,543 $728,847 $2,854,390 
__________________
*Includes time and material, time and equipment, and cost reimbursable plus fee contracts.
Year ended December 31, 2022
Electrical & MechanicalTransmission & Distribution
Total

(In thousands)
Fixed-price
$1,002,117 $308,530 $1,310,647 
Unit-price
91,565 116,831 208,396 
Cost reimbursable*
904,158 292,032 1,196,190 
Total contract revenues
1,997,840 717,393 2,715,233 
Eliminations(9,111)(6,872)(15,983)
Total operating revenues
$1,988,729 $710,521 $2,699,250 
___________________
*Includes time and material, time and equipment, and cost reimbursable plus fee contracts.
The following table presents revenue disaggregated by customer type:
Years Ended December 31,
202420232022
(In thousands)
Commercial
$1,197,760 $1,204,016 $1,082,456 
Industrial
322,661 473,339 405,730 
Institutional
364,611 262,344 215,509 
Renewables
36,975 55,402 151,100 
Service & other
109,440 139,766 143,045 
Total Electrical & Mechanical
2,031,447 2,134,867 1,997,840 
Utility
753,725 677,434 645,077 
Transportation
83,421 57,143 72,316 
Total Transmission & Distribution
837,146 734,577 717,393 
Eliminations
(18,908)(15,054)(15,983)
Total operating revenues
$2,849,685 $2,854,390 $2,699,250 
Summary of Uncompleted Contracts and Contract Assets and Contract Liabilities
Costs, estimated earnings and billings on uncompleted contracts were summarized as follows as of December 31:
20242023
(In thousands)
Costs incurred on uncompleted contracts
$7,034,838 $6,390,641 
Estimated earnings
995,766 840,994 
Costs and estimated earnings on uncompleted contracts8,030,604 7,231,635 
Less: billings to date
8,070,859 7,165,508 
Net contract assets (liabilities)
$(40,255)$66,127 
Contract assets and Contract liabilities consisted of the following as of December 31:
20242023
(In thousands)
Unbilled revenue, net
$124,007 $158,529 
Retainage, net
43,042 47,706 
Contract assets, net
$167,049 $206,235 
Deferred revenue, net
$206,283 $138,563 
Accrued loss provision1,021 1,545 
Contract liabilities, net
$207,304 $140,108 
The following table presents the opening and closing balances of net contract assets (liabilities):
20242023
Contract assets
Contract liabilities
Net contract assets (liabilities)
Contract assets
Contract liabilities
Net contract assets (liabilities)
(In thousands)
Balance at beginning of year
$206,235 $(140,108)$66,127 $223,098 $(124,395)$98,703 
Change during year
(39,186)(67,196)(106,382)(16,863)(15,713)(32,576)
Balance at end of year
$167,049 $(207,304)$(40,255)$206,235 $(140,108)$66,127 
Summary of Remaining Performance Obligations and Expected Revenue Recognition The table below shows additional information regarding the Company’s remaining performance obligations as of December 31, 2024, including an estimate of when the Company expects to recognize its remaining performance obligations as revenue:
Within 12 Months
Greater than 12 Months
(In thousands)
Electrical & Mechanical
$1,764,571 $435,208 
Transmission & Distribution
226,608 31,121 
Total $1,991,179 $466,329