XML 40 R25.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Retirement Plans | 12 Months Ended
--- | ---
Dec. 31, 2021
Retirement Benefits [Abstract] |
Retirement Plans | RETIREMENT PLANS Defined Benefit Plans The funded status of our defined benefit plans, which represents the difference between the fair value of plan assets and the projected benefit obligations, is recognized in the Consolidated Balance Sheets with a corresponding adjustment to accumulated other comprehensive income (loss). Gains and losses for the differences between actuarial assumptions and actual results are recognized through accumulated other comprehensive income (loss). These amounts will be subsequently recognized as net periodic pension cost (income) within the Consolidated Statement of Operations, as described further below. Our United Kingdom subsidiary has a defined benefit pension plan covering all eligible employees (the “UK Plan”); however, no individual joining the company after October 31, 2001 may participate in the UK Plan. On May 31, 2010, we curtailed the future accrual of benefits for active employees under such plan. The change in benefit obligations and assets of the UK Plan for the years ended December 31, 2021 and 2020 consisted of the following components (in thousands):
| 2021 |  | 2020
Change in pension benefit obligation |  |  |
Benefit obligation at beginning of year | $ | 383,142 |  |  | $ | 322,766 |
Interest cost | 5,326 |  |  | 6,401 |
Actuarial (gain) loss | (22,071) |  |  | 50,863 |
Benefits paid | (13,939) |  |  | (10,029) |
Foreign currency exchange rate changes | (3,311) |  |  | 13,141 |
Benefit obligation at end of year | 349,147 |  |  | 383,142 |
Change in pension plan assets |  |  |
Fair value of plan assets at beginning of year | 347,411 |  |  | 307,001 |
Actual return on plan assets | 21,809 |  |  | 34,380 |
Employer contributions | 4,956 |  |  | 4,665 |
Benefits paid | (13,939) |  |  | (10,029) |
Foreign currency exchange rate changes | (3,705) |  |  | 11,394 |
Fair value of plan assets at end of year | 356,532 |  |  | 347,411 |
Funded (unfunded) status at end of year | $ | 7,385 |  |  | $ | (35,731) |
The overfunded status of the UK Plan of $7.4 million at December 31, 2021 and the underfunded status of the UK Plan of $35.7 million at December 31, 2020 are included in “Other Assets” and “Other long-term obligations,” respectively, in the accompanying Consolidated Balance Sheets. No plan assets are expected to be returned to us during the year ending December 31, 2022. NOTE 14 - RETIREMENT PLANS (Continued) The weighted average assumptions used to determine benefit obligations as of December 31, 2021 and 2020 were as follows:
| 2021 |  | 2020
Discount rate | 1.8 | % |  | 1.4 | %
The below table shows certain information for the UK Plan, as of December 31, 2020, when the accumulated benefit obligation was in excess of plan assets (in thousands):
|  | December 31, 2020
Projected benefit obligation |  | $ | 383,142 |
Accumulated benefit obligation |  | $ | 383,142 |
Fair value of plan assets |  | $ | 347,411 |
The components of net periodic pension cost (income) of the UK Plan for the years ended December 31, 2021, 2020, and 2019 were as follows (in thousands):
| 2021 |  | 2020 |  | 2019
Interest cost | $ | 5,326 |  |  | $ | 6,401 |  |  | $ | 7,961 |
Expected return on plan assets | (12,726) |  |  | (12,023) |  |  | (12,165) |
Amortization of unrecognized loss | 3,642 |  |  | 2,389 |  |  | 2,342 |
Net periodic pension cost (income) | $ | (3,758) |  |  | $ | (3,233) |  |  | $ | (1,862) |
The weighted average assumptions used to determine net periodic pension cost for the years ended December 31, 2021, 2020, and 2019 were as follows:
| 2021 |  | 2020 |  | 2019
Discount rate | 1.4 | % |  | 2.1 | % |  | 2.9 | %
Annual rate of return on plan assets | 3.9 | % |  | 4.3 | % |  | 4.9 | %
The annual rate of return on plan assets has been determined by modeling possible returns using the actuary’s portfolio return calculator and the fair value of plan assets. This approach models the long term expected returns of the various asset classes held in the portfolio and takes into account the additional benefits of holding a diversified portfolio. For measurement purposes of the liability, the annual rates of inflation of covered pension benefits assumed for 2021 and 2020 were 2.9% and 2.5%, respectively. Amounts not yet reflected in net periodic pension cost and included in accumulated other comprehensive loss were as follows (in thousands):
| December 31, 2021 |  | December 31, 2020
Unrecognized actuarial losses | $ | 89,572 |  |  | $ | 125,020 |
Actuarial gains and losses are amortized using a corridor approach whereby cumulative gains and losses in excess of the greater of 10% of the pension benefit obligation or the fair value of plan assets are amortized over the average life expectancy of plan participants. The amortization period for 2021 was 24 years. The reclassification adjustment, net of income taxes, for the UK Plan from accumulated other comprehensive loss into net periodic pension cost was approximately $2.9 million for the year ended December 31, 2021, and approximately $1.9 million for the years ended December 31, 2020 and 2019. The estimated unrecognized loss for the UK Plan that will be amortized from accumulated other comprehensive loss into net periodic pension cost over the next year is approximately $1.8 million, net of income taxes. NOTE 14 - RETIREMENT PLANS (Continued) UK Plan Assets The investment policies and strategies for the assets of the UK Plan are established by its trustees (who are independent of the Company) to achieve a reasonable balance between risk, likely return, and administration expense, as well as to maintain funds at a level to meet minimum funding requirements. In order to ensure that an appropriate investment strategy is in place, an analysis of the UK Plan’s assets and liabilities is completed periodically. Target allocation percentages vary over time depending on the perceived risk and return potential of various asset classes and market conditions. The weighted average asset allocations and weighted average target allocations at December 31, 2021 and 2020 were as follows:
Asset Category | Target Asset Allocation 2021 |  | Actual December 31, 2021 |  | Target Asset Allocation 2020 |  | Actual December 31, 2020
Debt | 75.0 | % |  | 76.0 | % |  | 65.0 | % |  | 63.0 | %
Equity | — | % |  | — | % |  | 15.0 | % |  | 12.7 | %
Cash and cash equivalents | 15.0 | % |  | 16.5 | % |  | 10.0 | % |  | 17.1 | %
Real estate | 10.0 | % |  | 7.5 | % |  | 10.0 | % |  | 7.2 | %
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | % |  | 100.0 | %
Plan assets of our UK Plan are invested through third-party fund managers in various investments with underlying holdings which, as of December 31, 2021 and 2020, consisted of: (a) cash and cash equivalents, primarily held as collateral for other financial instruments, (b) debt securities, which include United Kingdom government debt and United States, United Kingdom, European, and emerging market corporate debt, and (c) real estate assets, which represent trusts which invest directly or indirectly in various properties throughout the United Kingdom. In addition, investment holdings as of December 31, 2020 contained equity securities, which included marketable equity and equity like instruments across developed global equity markets. The following tables set forth the fair value of assets of the UK Plan as of December 31, 2021 and 2020 (in thousands):
| Assets at Fair Value as of December 31, 2021
Asset Category | Level 1 |  | Level 2 |  | Level 3 |  | Total
Corporate debt funds | $ | — |  |  | $ | 67,226 |  |  | $ | — |  |  | $ | 67,226 |
Government bond funds | — |  |  | 91,899 |  |  | — |  |  | 91,899 |
Cash and cash equivalents | 58,772 |  |  | — |  |  | — |  |  | 58,772 |
Total plan assets in fair value hierarchy | $ | 58,772 |  |  | $ | 159,125 |  |  | $ | — |  |  | 217,897 |
Plan assets measured using NAV as a practical expedient: (1) |  |  |  |  |  |  |
Debt funds |  |  |  |  |  |  | 111,971 |
Real estate funds |  |  |  |  |  |  | 26,664 |
Total plan assets at fair value |  |  |  |  |  |  | $ | 356,532 |
| Assets at Fair Value as of December 31, 2020
Asset Category | Level 1 |  | Level 2 |  | Level 3 |  | Total
Corporate debt funds | $ | — |  |  | $ | 65,486 |  |  | $ | — |  |  | $ | 65,486 |
Government bond funds | — |  |  | 57,133 |  |  | — |  |  | 57,133 |
Equity funds | — |  |  | 44,132 |  |  | — |  |  | 44,132 |
Cash and cash equivalents | 59,246 |  |  | — |  |  | — |  |  | 59,246 |
Total plan assets in fair value hierarchy | $ | 59,246 |  |  | $ | 166,751 |  |  | $ | — |  |  | 225,997 |
Plan assets measured using NAV as a practical expedient: (1) |  |  |  |  |  |  |
Debt funds |  |  |  |  |  |  | 96,196 |
Real estate funds |  |  |  |  |  |  | 25,218 |
Total plan assets at fair value |  |  |  |  |  |  | $ | 347,411 |
_________________ (1)Certain investments measured using net asset value (“NAV”) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the total fair value of plan assets. NOTE 14 - RETIREMENT PLANS (Continued) Assets of the UK Plan are allocated within the fair value hierarchy discussed in Note 10 - Fair Value Measurements, based on the nature of the investment. Level 1 assets represent cash and cash equivalents. Level 2 assets consist of corporate debt funds, government bond funds, and equity funds whose underlying investments are valued using observable marketplace inputs. The fair value of the Level 2 assets are generally determined under a market approach using valuation models that incorporate observable inputs such as interest rates, bond yields, and quoted prices. Investments valued using NAV as a practical expedient are excluded from the fair value hierarchy. These investments include: (a) funds which invest predominantly in senior secured debt instruments, targeting diversity across regions and sectors, as well as funds which invest in diversified credit vehicles that seek higher returns than traditional fixed income, primarily through investments in U.S. corporate debt, global credit, and structured debt, and (b) funds which aim to provide long-term income through investment in UK property assets. These investments are redeemable at NAV on a monthly or quarterly basis and have redemption notice periods of up to 90 days. In addition, certain of these investments are subject to a lockup period of up to 24 months. The methods described above may produce fair values that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes the valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine fair value of certain financial instruments could result in a different fair value measurement at the reporting date. Cash Flows: Contributions Our United Kingdom subsidiary expects to contribute approximately $4.5 million to the UK Plan in 2022. Estimated Future Benefit Payments The following estimated benefit payments are expected to be paid in the following years (in thousands):
| Pension Benefit Payments
2022 | $ | 11,266 |
2023 | $ | 11,171 |
2024 | $ | 11,525 |
2025 | $ | 12,099 |
2026 | $ | 12,545 |
Succeeding five years | $ | 69,416 |
We also sponsor three domestic retirement plans in which participation by new individuals is frozen. The benefit obligation associated with these plans as of December 31, 2021 and 2020 was approximately $8.5 million and $9.2 million, respectively. The estimated fair value of the plan assets as of December 31, 2021 and 2020 was approximately $6.3 million and $6.0 million, respectively. The plan assets are considered Level 1 assets within the fair value hierarchy and are predominantly invested in cash, equities, and equity and bond funds. The liability balances as of December 31, 2021 and 2020 are classified as “Other long-term obligations” in the accompanying Consolidated Balance Sheets. The measurement date for these plans is December 31 of each year. The major assumptions used in the actuarial valuations to determine benefit obligations as of December 31, 2021 and 2020 included discount rates of 2.40% to 2.50% for 2021 and 2.00% to 2.25% for 2020. Also, included was an expected rate of return of 7.00% for both 2021 and 2020. The net periodic pension cost associated with the domestic plans was approximately $0.1 million for the year ended December 31, 2021 and $0.3 million for each of the years ended December 31, 2020 and 2019. The reclassification adjustment, net of income taxes, from accumulated other comprehensive loss into net periodic pension cost was approximately $0.3 million for each of the years ended December 31, 2021 and 2020, and approximately $0.2 million for the year ended December 31, 2019. The estimated loss for these plans that will be amortized from accumulated other comprehensive loss into net periodic pension cost over the next year is approximately $0.1 million, net of income taxes. The future estimated benefit payments expected to be paid from the plans for the next ten years is approximately $0.6 million per year. NOTE 14 - RETIREMENT PLANS (Continued) Defined Contribution Plans We have defined contribution retirement and savings plans that cover eligible employees in the United States. Contributions to these plans are based on a percentage of the employee’s base compensation. The expenses recognized for employer contributions to these plans were approximately $33.0 million for the year ended December 31, 2021 and approximately $32.4 million for each of the years ended December 31, 2020 and 2019. At our discretion and subject to applicable plan documents, we may make additional supplemental matching contributions to one of our defined contribution retirement and savings plans. The expenses recognized related to additional supplemental matching contributions for the years ended December 31, 2021, 2020, and 2019 were approximately $7.7 million, $9.1 million, and $6.8 million, respectively. Our United Kingdom subsidiary also has defined contribution retirement plans. The expense recognized related to employer matching contributions for the years ended December 31, 2021, 2020, and 2019 was approximately $8.3 million, $7.4 million, and $6.1 million, respectively. Multiemployer Plans We participate in approximately 200 multiemployer pension plans (“MEPPs”) that provide retirement benefits to certain union employees in accordance with various collective bargaining agreements (“CBAs”). As one of many participating employers in an MEPP, we are potentially liable with the other participating employers for any plan underfunding, either through an increase in our required contributions or, in the case of our withdrawal from the plan, a payment based upon our proportionate share of the plan's unfunded benefits, in each case, as described below. Our contributions to a particular MEPP are established by the applicable CBAs; however, our required contributions may increase based on the funded status of an MEPP and legal requirements of the Pension Protection Act of 2006 (the “PPA”), which requires substantially underfunded MEPPs to implement a funding improvement plan (“FIP”) or a rehabilitation plan (“RP”) to improve their funded status. Factors that could impact the funded status of an MEPP include, without limitation, investment performance, changes in the participant demographics, decline in the number of contributing employers, changes in actuarial assumptions, and the utilization of extended amortization provisions. An FIP or RP requires a particular MEPP to adopt measures to correct its underfunding status. These measures may include, but are not limited to: (a) an increase in our contribution rate as a signatory to the applicable CBA, (b) a reallocation of the contributions already being made by participating employers for various benefits to individuals participating in the MEPP, and/or (c) a reduction in the benefits to be paid to future and/or current retirees. In addition, the PPA requires that a 5% surcharge be levied on employer contributions for the first year commencing after the date the employer receives notice that the MEPP is in critical status and a 10% surcharge on each succeeding year until a CBA is in place with terms and conditions consistent with the RP. We could also be obligated to make payments to MEPPs if we either cease to have an obligation to contribute to the MEPP or significantly reduce our contributions to the MEPP because we reduce our number of employees who are covered by the relevant MEPP for various reasons, including, but not limited to, layoffs or closure of a subsidiary assuming the MEPP has unfunded vested benefits. The amount of such payments (known as a complete or partial withdrawal liability) would equal our proportionate share of the MEPPs’ unfunded vested benefits. We believe that certain of the MEPPs in which we participate may have unfunded vested benefits. Due to uncertainty regarding future factors that could trigger withdrawal liability, as well as the absence of specific information regarding the MEPP’s current financial situation, we are unable to determine: (a) the amount and timing of a future withdrawal liability, if any, and (b) whether our participation in these MEPPs could have a material adverse impact on our financial position, results of operations, or liquidity. We did not record any withdrawal liability for the years ended December 31, 2021, 2020, and 2019. NOTE 14 - RETIREMENT PLANS (Continued) The following table lists all MEPPs to which our contributions exceeded $2.0 million in 2021. This table also lists all MEPPs to which we contributed in 2021 in excess of $0.5 million for MEPPs in the critical status, “red zone,” and $1.0 million for MEPPs in the endangered status, “orange or yellow zones,” as defined by the PPA (in thousands):
Pension Fund |  | EIN/Pension Plan Number |  | PPA Zone Status (1) |  | FIP/RP Status |  | Contributions |  | Contributions greater than 5% of total plan contributions (2) |  | Expiration date or range of expiration dates of CBA(s)
| 2021 |  | 2020 |  |  | 2021 |  | 2020 |  | 2019 |
National Automatic Sprinkler Industry Pension Fund |  | 52-6054620 | 001 |  | Green |  | Red |  | NA |  | $ | 20,987 |  |  | $ | 17,504 |  |  | $ | 15,924 |  |  | Yes |  | March 2022 to August 2025
United Association National Pension Fund (Formerly Plumbers & Pipefitters National Pension Fund) |  | 52-6152779 | 001 |  | Green |  | Yellow |  | NA |  | 14,723 |  |  | 14,095 |  |  | 13,821 |  |  | No |  | February 2022 to August 2026
National Electrical Benefit Fund |  | 53-0181657 | 001 |  | Green |  | Green |  | NA |  | 12,310 |  |  | 11,573 |  |  | 16,901 |  |  | No |  | April 2022 to May 2026
Pension, Hospitalization & Benefit Plan of the Electrical Industry-Pension Trust Account |  | 13-6123601 | 001 |  | Green |  | Green |  | NA |  | 12,291 |  |  | 11,264 |  |  | 10,075 |  |  | No |  | April 2022 to June 2024
Sheet Metal Workers National Pension Fund |  | 52-6112463 | 001 |  | Yellow |  | Yellow |  | Implemented |  | 10,307 |  |  | 11,621 |  |  | 11,713 |  |  | No |  | May 2022 to July 2027
Electrical Workers Local No. 26 Pension Trust Fund |  | 52-6117919 | 001 |  | Green |  | Green |  | NA |  | 9,346 |  |  | 7,086 |  |  | 8,434 |  |  | Yes |  | May 2022 to July 2024
Sheet Metal Workers Pension Plan of Northern California |  | 51-6115939 | 001 |  | Red |  | Red |  | Implemented |  | 7,850 |  |  | 6,605 |  |  | 6,233 |  |  | No |  | June 2022 to June 2026
Plumbers Pipefitters & Mechanical Equipment Service Local Union 392 Pension Plan |  | 31-0655223 | 001 |  | Red |  | Red |  | Implemented |  | 7,110 |  |  | 5,667 |  |  | 6,412 |  |  | Yes |  | June 2022
Central Pension Fund of the IUOE & Participating Employers |  | 36-6052390 | 001 |  | Green |  | Green |  | NA |  | 6,627 |  |  | 6,115 |  |  | 6,253 |  |  | No |  | March 2022 to December 2024
Southern California Pipe Trades Retirement Fund |  | 51-6108443 | 001 |  | Green |  | Green |  | NA |  | 6,272 |  |  | 4,043 |  |  | 3,274 |  |  | No |  | June 2022 to August 2026
Pipefitters Union Local 537 Pension Fund |  | 51-6030859 | 001 |  | Green |  | Green |  | NA |  | 5,922 |  |  | 4,275 |  |  | 4,754 |  |  | Yes |  | February 2022 to August 2025
Heating, Piping & Refrigeration Pension Fund |  | 52-1058013 | 001 |  | Green |  | Green |  | NA |  | 5,591 |  |  | 3,349 |  |  | 4,185 |  |  | No |  | July 2022
Southern California IBEW-NECA Pension Trust Fund |  | 95-6392774 | 001 |  | Yellow |  | Yellow |  | Implemented |  | 4,876 |  |  | 5,719 |  |  | 6,277 |  |  | No |  | June 2022 to May 2026
Edison Pension Plan |  | 93-6061681 | 001 |  | Green |  | Green |  | NA |  | 4,229 |  |  | 3,864 |  |  | 5,361 |  |  | Yes |  | December 2023
Electrical Contractors Association of the City of Chicago Local Union 134, IBEW Joint Pension Trust of Chicago Pension Plan 2 |  | 51-6030753 | 002 |  | Green |  | Green |  | NA |  | 4,225 |  |  | 3,004 |  |  | 3,204 |  |  | No |  | May 2022 to June 2022
Arizona Pipe Trades Pension Trust Fund |  | 86-6025734 | 001 |  | Green |  | Green |  | NA |  | 4,076 |  |  | 4,142 |  |  | 6,071 |  |  | Yes |  | May 2022 to June 2024
San Diego Electrical Pension Plan |  | 95-6101801 | 001 |  | Green |  | Green |  | NA |  | 4,068 |  |  | 4,383 |  |  | 3,843 |  |  | Yes |  | May 2024
U.A. Local 393 Pension Trust Fund Defined Benefit |  | 94-6359772 | 002 |  | Green |  | Green |  | NA |  | 3,507 |  |  | 3,168 |  |  | 3,858 |  |  | Yes |  | June 2022 to June 2024
Boilermaker-Blacksmith National Pension Trust |  | 48-6168020 | 001 |  | Yellow |  | Yellow |  | Implemented |  | 3,479 |  |  | 1,574 |  |  | 1,681 |  |  | No |  | April 2022 to September 2024
Sheet Metal Workers Pension Plan of Southern California, Arizona & Nevada |  | 95-6052257 | 001 |  | Yellow |  | Yellow |  | Implemented |  | 3,322 |  |  | 2,706 |  |  | 2,423 |  |  | No |  | June 2022 to June 2026
Eighth District Electrical Pension Fund |  | 84-6100393 | 001 |  | Green |  | Green |  | NA |  | 3,298 |  |  | 3,242 |  |  | 3,590 |  |  | Yes |  | May 2023 to August 2024
Northern California Pipe Trades Pension Plan |  | 94-3190386 | 001 |  | Green |  | Green |  | NA |  | 2,663 |  |  | 2,463 |  |  | 3,077 |  |  | No |  | June 2022 to June 2024
NOTE 14 - RETIREMENT PLANS (Continued)
Pension Fund |  | EIN/Pension Plan Number |  | PPA Zone Status (1) |  | FIP/RP Status |  | Contributions |  | Contributions greater than 5% of total plan contributions (2) |  | Expiration date or range of expiration dates of CBA(s)
| 2021 |  | 2020 |  |  | 2021 |  | 2020 |  | 2019 |
Atlanta Plumbers and Steamfitters Pension Fund |  | 58-1233396 | 001 |  | Green |  | Green |  | NA |  | 2,496 |  |  | 1,576 |  |  | 310 |  |  | Yes |  | May 2022 to January 2025
NECA-IBEW Pension Trust Fund |  | 51-6029903 | 001 |  | Green |  | Green |  | NA |  | 2,491 |  |  | 2,369 |  |  | 2,528 |  |  | No |  | May 2022 to December 2022
IBEW 332 Pension Fund - Part A |  | 94-2688032 | 004 |  | Green |  | Green |  | NA |  | 2,339 |  |  | 1,211 |  |  | 1,633 |  |  | No |  | May 2024
U.A. Plumbers Local 24 Pension Fund |  | 22-6042823 | 001 |  | Green |  | Green |  | NA |  | 2,270 |  |  | 2,460 |  |  | 2,460 |  |  | Yes |  | April 2025
IBEW Local 595 Pension Plan |  | 94-6279541 | 001 |  | Green |  | Green |  | NA |  | 2,042 |  |  | 569 |  |  | 1,653 |  |  | No |  | November 2022 to May 2023
Plumbing & Pipe Fitting Local 219 Pension Fund |  | 34-6682376 | 001 |  | Red |  | Red |  | Implemented |  | 1,167 |  |  | 1,680 |  |  | 1,937 |  |  | Yes |  | May 2022 to May 2025
Plumbers & Pipefitters Local 162 Pension Fund |  | 31-6125999 | 001 |  | Yellow |  | Yellow |  | Implemented |  | 1,034 |  |  | 969 |  |  | 1,124 |  |  | Yes |  | May 2022
Steamfitters Local Union No. 420 Pension Plan |  | 23-2004424 | 001 |  | Red |  | Red |  | Implemented |  | 677 |  |  | 553 |  |  | 641 |  |  | No |  | May 2022 to April 2024
South Florida Electrical Workers Pension Plan and Trust |  | 59-6230530 | 001 |  | Red |  | Red |  | Implemented |  | 594 |  |  | 261 |  |  | 323 |  |  | No |  | August 2022
Carpenters Pension Trust Fund for Northern California |  | 94-6050970 | 001 |  | Red |  | Red |  | Implemented |  | 568 |  |  | 385 |  |  | 435 |  |  | No |  | June 2023
Other Multiemployer Pension Plans |  |  |  |  |  |  |  |  |  |  | 55,315 |  |  | 54,587 |  |  | 55,070 |  |  |  |  | Various
Total Contributions |  |  |  |  |  |  |  |  |  |  | $ | 228,072 |  |  | $ | 204,082 |  |  | $ | 215,478 |  |  |  |  |
_________________ (1) The zone status represents the most recent available information for the respective MEPP, which may be 2020 or earlier for the 2021 year and 2019 or earlier for the 2020 year. In general, plans with a “green” zone status have a funding ratio of at least 80%, plans with an “orange” or “yellow” zone status have a funding ratio of between 65% and less than 80%, and plans with a “red” zone status are less than 65% funded. (2) This information was obtained from the respective plan’s Form 5500 (“Forms”) for the most current available filing. These dates may not correspond with our fiscal year contributions. The percentages of contributions are based upon disclosures contained in the plans’ Forms. Those Forms, among other things, disclose the names of individual participating employers whose annual contributions account for more than 5% of the aggregate annual amount contributed by all participating employers for a plan year. Accordingly, if the annual contribution of two or more of our subsidiaries each accounted for less than 5% of such contributions, but in the aggregate accounted for in excess of 5% of such contributions, that greater percentage is not available and accordingly is not disclosed. The nature and diversity of our operations may result in volatility in the amount of our contributions to a particular MEPP for any given period. That is because, in any given market, a change in the mix, volume of, or size of our projects could result in a change in our direct labor force and a corresponding change in our contributions to the MEPP(s) dictated by the applicable CBA. Additionally, the amount of contributions to a particular MEPP could also be affected by the terms of the CBA, which could require at a particular time, an increase in the contribution rate and/or surcharges. Acquisitions made by us since 2019 have resulted in incremental contributions to various MEPPs of approximately $3.8 million. Additionally, we contribute to certain multiemployer plans that provide post retirement benefits such as health and welfare benefits and/or defined contribution/annuity plans, among others. Our contributions to these plans were approximately $168.4 million, $156.1 million, and $153.5 million for the years ended December 31, 2021, 2020, and 2019, respectively. Acquisitions made by use since 2019 have resulted in incremental contributions to such other post retirement benefit plans of approximately $2.9 million. The amount of contributions to these plans is also subject, for the most part, to the factors discussed above in conjunction with the MEPPs.

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for retirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section S99 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(i) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (o) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (p) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(03) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (q) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (r)(1) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(iii) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (l) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (r)(2) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration