XML 20 R5.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents ($361,898 and $131,738 related to VIEs) $ 734,553 $ 455,084
Restricted cash 35,641 9,104
Restricted investments 228,959 139,986
Accounts receivable ($126,245 and $51,953 related to VIEs) 1,218,609 986,893
Retention receivable ($216,099 and $171,704 related to VIEs) 668,894 560,163
Costs and estimated earnings in excess of billings ($82,426 and $95,219 related to VIEs) 819,199 942,522
Other current assets ($145,473 and $24,954 related to VIEs) 411,030 192,915
Total current assets 4,116,885 3,286,667
PROPERTY AND EQUIPMENT:    
Land 44,132 44,132
Building and improvements 149,973 138,799
Construction equipment 681,300 609,495
Other equipment 242,776 196,870
Total property and equipment, gross 1,118,181 989,296
Less accumulated depreciation (570,186) (566,308)
Total property and equipment, net ($23,246 and $19,876 related to VIEs) 547,995 422,988
GOODWILL 205,143 205,143
INTANGIBLE ASSETS, NET 63,832 66,069
DEFERRED INCOME TAXES 96,573 143,289
OTHER ASSETS 129,994 118,554
TOTAL ASSETS 5,160,422 4,242,710
CURRENT LIABILITIES:    
Current maturities of long-term debt 14,589 24,113
Accounts payable ($64,712 and $22,845 related to VIEs) 724,932 631,468
Retention payable ($27,743 and $19,744 related to VIEs) 265,246 240,971
Billings in excess of costs and estimated earnings ($520,455 and $326,561 related to VIEs) 1,838,610 1,216,623
Accrued expenses and other current liabilities ($56,044 and $16,391 related to VIEs) 396,121 219,525
Total current liabilities 3,239,498 2,332,700
LONG-TERM DEBT, less current maturities, net of unamortized discount and debt issuance costs totaling $17,983 and $21,977 392,785 510,025
OTHER LONG-TERM LIABILITIES 265,477 241,379
TOTAL LIABILITIES 3,897,760 3,084,104
COMMITMENTS AND CONTINGENCIES (Note 8)
Stockholders' equity:    
Preferred stock – authorized 1,000,000 shares ($1 par value), none issued 0 0
Common stock – authorized 112,500,000 shares ($1 par value), issued and outstanding 52,791,451 and 52,485,719 shares 52,791 52,486
Additional paid-in capital 1,148,634 1,146,800
Retained earnings (deficit) 46,443 (30,575)
Accumulated other comprehensive loss (29,234) (33,988)
Total stockholders' equity 1,218,634 1,134,723
Noncontrolling interests 44,028 23,883
TOTAL EQUITY 1,262,662 1,158,606
TOTAL LIABILITIES AND EQUITY $ 5,160,422 $ 4,242,710