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v3.26.1

Segment Information - Summarized Financial Information (Details) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2026 | Mar. 31, 2025
Segment Reporting Information [Line Items] |  |
Revenues | $ 7,874,787 | $ 6,233,334
Segment operating expense (excluding segment depreciation expense) | 7,114,288 | 5,668,852
Segment depreciation expense | 108,269 | 92,380
Segment operating expenses | 7,222,557 | 5,761,232
Equity in earnings of integral unconsolidated affiliates | 14,469 | 12,929
Segment operating income | 666,699 | 485,031
Total consolidated operating income | 338,779 | 239,081
Non-cash stock-based compensation | 62,634 | 38,151
Corporate and Non-Allocated Costs |  |
Segment Reporting Information [Line Items] |  |
Corporate and non-allocated costs | (327,920) | (245,950)
Amortization | 152,400 | 109,600
Non-cash stock-based compensation | 62,600 | 38,200
Electric |  |
Segment Reporting Information [Line Items] |  |
Revenues | 6,468,657 | 4,944,391
Segment operating expense (excluding segment depreciation expense) | 5,839,272 | 4,482,845
Segment depreciation expense | 82,772 | 66,311
Segment operating expenses | 5,922,044 | 4,549,156
Equity in earnings of integral unconsolidated affiliates | 14,469 | 12,929
Segment operating income | $ 561,082 | $ 408,164
Segment operating margin | 8.70% | 8.30%
Underground and Infrastructure |  |
Segment Reporting Information [Line Items] |  |
Revenues | $ 1,406,130 | $ 1,288,943
Segment operating expense (excluding segment depreciation expense) | 1,275,016 | 1,186,007
Segment depreciation expense | 25,497 | 26,069
Segment operating expenses | 1,300,513 | 1,212,076
Equity in earnings of integral unconsolidated affiliates | 0 | 0
Segment operating income | $ 105,617 | $ 76,867
Segment operating margin | 7.50% | 6.00%

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