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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Summarized Financial Information | The following table shows segment financial information in thousands of dollars for the periods presented. All revenues are from external customers. Segment operating margin is calculated by dividing operating income by revenues.
Three Months Ended March 31, 2025 |  | Electric |  | Underground and Infrastructure (1) |  | Total
Revenues |  | $ | 4,944,391 |  |  | $ | 1,288,943 |  |  | $ | 6,233,334 |
Segment operating expense (excluding segment depreciation expense) |  | 4,482,845 |  |  | 1,186,007 |  |  | 5,668,852 |
Segment depreciation expense |  | 66,311 |  |  | 26,069 |  |  | 92,380 |
Segment operating expenses |  | 4,549,156 |  |  | 1,212,076 |  |  | 5,761,232 |
Equity in earnings on integral unconsolidated affiliates |  | 12,929 |  |  | — |  |  | 12,929 |
Segment operating income |  | $ | 408,164 |  |  | $ | 76,867 |  |  | $ | 485,031 |
Segment operating margin |  | 8.3 | % |  | 6.0 | % |  |
Corporate and non-allocated costs (2) |  |  |  |  |  | (245,950) |
Total consolidated operating income |  |  |  |  |  | $ | 239,081 |
Three Months Ended March 31, 2024 |  | Electric |  | Underground and Infrastructure (3) |  | Total
Revenues |  | $ | 3,911,124 |  |  | $ | 1,120,695 |  |  | $ | 5,031,819 |
Segment operating expense (excluding segment depreciation expense) |  | 3,562,345 |  |  | 1,048,821 |  |  | 4,611,166 |
Segment depreciation expense |  | 58,242 |  |  | 24,986 |  |  | 83,228 |
Segment operating expenses |  | 3,620,587 |  |  | 1,073,807 |  |  | 4,694,394 |
Equity in earnings on integral unconsolidated affiliates |  | 12,334 |  |  | — |  |  | 12,334 |
Segment operating income |  | $ | 302,871 |  |  | $ | 46,888 |  |  | $ | 349,759 |
Segment operating margin |  | 7.7 | % |  | 4.2 | % |  |
Corporate and non-allocated costs (2) |  |  |  |  |  | (194,405) |
Total consolidated operating income |  |  |  |  |  | $ | 155,354 |
(1) Included in operating expenses (excluding segment depreciation expense) for the Underground and Infrastructure segment during the three months ended March 31, 2025 was $4.2 million that, pursuant to an acquisition purchase agreement, was withheld from the sellers’ proceeds, to be paid to certain employees upon satisfaction of post-closing service obligations. (2) Corporate and non-allocated costs included amortization expense of $109.6 million and $77.5 million and non-cash stock-based compensation of $38.2 million and $35.3 million for the three months ended March 31, 2025 and 2024. (3) Included in operating expenses (excluding segment depreciation expense) for the Underground and Infrastructure segment during the three months ended March 31, 2024 was a loss of $10.7 million related to the disposition of a non-core business.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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