Revenue from contracts with customers (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

In the following tables, revenue is disaggregated by the type of customer or service provided. The Company believes this level of disaggregation best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The table also includes a reconciliation of the disaggregated revenue by reportable segments. For more information on the Company's business segments, see Note 15.


Three Months Ended September 30, 2024	Electric		Natural gas distribution		Pipeline		Construction services		Other		Total
	(In thousands)
Residential utility sales	$	37,076	$	61,928	$	—	$	—	$	—	$	99,004
Commercial utility sales	46,648		37,687		—		—		—		84,335
Industrial utility sales	9,702		6,869		—		—		—		16,571
Other utility sales	2,045		—		—		—		—		2,045
Natural gas transportation	—		15,279		41,936		—		—		57,215
Natural gas storage	—		—		6,053		—		—		6,053
Electrical & mechanical specialty contracting	—		—		—		534,613		—		534,613
Transmission & distribution specialty contracting	—		—		—		216,062		—		216,062
Other	16,182		9,736		3,537		169		1,433		31,057
Intersegment eliminations	(96)		(104)		(3,931)		—		(1,432)		(5,563)
Revenues from contracts with customers	111,557		131,395		47,595		750,844		1		1,041,392
Other revenues	(3,173)		2,122		33		10,142		—		9,124
Total external operating revenues	$	108,384	$	133,517	$	47,628	$	760,986	$	1	$	1,050,516


Three Months Ended September 30, 2023	Electric		Natural gas distribution		Pipeline		Construction services		Other		Total
	(In thousands)
Residential utility sales	$	34,303	$	68,733	$	—	$	—	$	—	$	103,036
Commercial utility sales	49,754		40,360		—		—		—		90,114
Industrial utility sales	10,747		7,272		—		—		—		18,019
Other utility sales	1,865		—		—		—		—		1,865
Natural gas transportation	—		13,050		35,338		—		—		48,388
Natural gas storage	—		—		4,808		—		—		4,808
Electrical & mechanical specialty contracting	—		—		—		514,378		—		514,378
Transmission & distribution specialty contracting	—		—		—		192,056		—		192,056
Other	14,701		3,881		3,916		(89)		1,689		24,098
Intersegment eliminations	(27)		(69)		(3,701)		—		(1,689)		(5,486)
Revenues from contracts with customers	111,343		133,227		40,361		706,345		—		991,276
Other revenues	(3,254)		1,669		43		11,061		—		9,519
Total external operating revenues	$	108,089	$	134,896	$	40,404	$	717,406	$	—	$	1,000,795


Nine Months Ended September 30, 2024	Electric		Natural gas distribution		Pipeline		Construction services		Other		Total
	(In thousands)
Residential utility sales	$	107,735	$	431,721	$	—	$	—	$	—	$	539,456
Commercial utility sales	129,783		264,091		—		—		—		393,874
Industrial utility sales	32,809		30,716		—		—		—		63,525
Other utility sales	6,046		—		—		—		—		6,046
Natural gas transportation	—		43,194		128,979		—		—		172,173
Natural gas storage	—		—		16,766		—		—		16,766
Electrical & mechanical specialty contracting	—		—		—		1,476,006		—		1,476,006
Transmission & distribution specialty contracting	—		—		—		583,803		—		583,803
Other	44,998		18,705		9,903		260		4,283		78,149
Intersegment eliminations	(188)		(209)		(43,296)		(336)		(4,265)		(48,294)
Revenues from contracts with customers	321,183		788,218		112,352		2,059,733		18		3,281,504
Revenues out of scope	(5,915)		6,200		119		29,978		—		30,382
Total external operating revenues	$	315,268	$	794,418	$	112,471	$	2,089,711	$	18	$	3,311,886


Nine Months Ended September 30, 2023	Electric		Natural gas distribution		Pipeline		Construction services		Other		Total
	(In thousands)
Residential utility sales	$	102,953	$	517,351	$	—	$	—	$	—	$	620,304
Commercial utility sales	124,363		316,483		—		—		—		440,846
Industrial utility sales	31,880		33,293		—		—		—		65,173
Other utility sales	5,349		—		—		—		—		5,349
Natural gas transportation	—		38,225		104,716		—		—		142,941
Natural gas storage	—		—		12,427		—		—		12,427
Electrical & mechanical specialty contracting	—		—		—		1,672,948		—		1,672,948
Transmission & distribution specialty contracting	—		—		—		511,563		—		511,563
Other	38,111		11,874		9,713		121		6,412		66,231
Intersegment eliminations	(82)		(208)		(37,889)		—		(6,412)		(44,591)
Revenues from contracts with customers	302,574		917,018		88,967		2,184,632		—		3,493,191
Revenues out of scope	(7,799)		2,469		119		34,040		—		28,829
Total external operating revenues	$	294,775	$	919,487	$	89,086	$	2,218,672	$	—	$	3,522,020

Schedule of Contract balances

The changes in contract assets and liabilities were as follows:


	September 30, 2024		December 31, 2023		Change		Location on Consolidated Balance Sheets
	(In thousands)
Contract assets	$	174,782	$	158,861	$	15,921	Receivables, net
Contract liabilities - current	(226,754)		(202,144)		(24,610)		Accounts payable
Contract liabilities - noncurrent	(2,114)		(291)		(1,823)		Noncurrent liabilities - other
Net contract liabilities	$	(54,086)	$	(43,574)	$	(10,512)