XML 38 R27.htm IDEA: XBRL DOCUMENT v3.22.2.2
Revenue from Contracts with Customers (Tables)
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenues
The following tables provide further disaggregation of our revenues, by categories we use to evaluate our financial performance within each of our reportable segments, for the three and nine months ended September 30, 2022 and 2021 (in thousands):
For the three months ended September 30,
2022% of
Total		2021% of
Total
United States electrical construction and facilities services:
Commercial market sector$339,478 54 %$275,824 52 %
Manufacturing market sector78,562 12 %61,618 12 %
Healthcare market sector43,911 7 %29,419 5 %
Institutional market sector46,344 7 %42,153 8 %
Transportation market sector40,525 6 %49,578 9 %
Water and wastewater market sector5,466 1 %4,381 1 %
Hospitality market sector4,575 1 %2,522 1 %
Short duration projects (1)
58,637 9 %54,678 10 %
Service work16,829 3 %11,433 2 %
634,327 531,606 
Less intersegment revenues(944)(656)
Total segment revenues$633,383 $530,950 
 ________
(1)Represents those projects which generally are completed within three months or less.
NOTE 3 - Revenue from Contracts with Customers (Continued)
For the three months ended September 30,
2022% of
Total		2021% of
Total
United States mechanical construction and facilities services:
Commercial market sector$444,515 40 %$369,791 37 %
Manufacturing market sector156,524 14 %154,644 15 %
Healthcare market sector120,562 11 %123,415 12 %
Institutional market sector104,306 9 %74,867 8 %
Transportation market sector15,494 1 %23,954 2 %
Water and wastewater market sector66,667 6 %53,367 5 %
Hospitality market sector6,513 1 %10,806 1 %
Short duration projects (1)
77,261 7 %78,218 8 %
Service work128,792 11 %116,824 12 %
1,120,634 1,005,886 
Less intersegment revenues(3,246)(1,479)
Total segment revenues$1,117,388 $1,004,407 
 ________
(1)Represents those projects which generally are completed within three months or less.
For the three months ended September 30,
2022% of
Total		2021% of
Total
United States building services:
Mobile mechanical services$462,401 65 %$408,949 65 %
Commercial site-based services199,957 28 %166,375 27 %
Government site-based services48,292 7 %49,293 8 %
Total segment revenues$710,650 $624,617 
For the three months ended September 30,
2022% of
Total		2021% of
Total
United States industrial services:
Field services$213,866 87 %$196,846 85 %
Shop services33,373 13 %35,372 15 %
Total segment revenues$247,239 $232,218 
Total United States operations$2,708,660 $2,392,192 
For the three months ended September 30,
2022% of
Total		2021% of
Total
United Kingdom building services:
Service work$51,762 44 %$65,486 51 %
Project work65,939 56 %63,994 49 %
Total segment revenues$117,701 $129,480 
Total operations$2,826,361 $2,521,672 
NOTE 3 - Revenue from Contracts with Customers (Continued)
For the nine months ended September 30,
2022% of
Total		2021% of
Total
United States electrical construction and facilities services:
Commercial market sector$908,999 53 %$776,121 52 %
Manufacturing market sector210,331 12 %162,186 11 %
Healthcare market sector119,259 7 %75,417 5 %
Institutional market sector115,799 6 %138,973 9 %
Transportation market sector128,047 7 %144,788 10 %
Water and wastewater market sector15,962 1 %9,909 1 %
Hospitality market sector9,887 1 %11,286 1 %
Short duration projects (1)
167,553 10 %137,260 9 %
Service work47,253 3 %29,008 2 %
1,723,090 1,484,948 
Less intersegment revenues(3,565)(2,473)
Total segment revenues$1,719,525 $1,482,475 
For the nine months ended September 30,
2022% of
Total		2021% of
Total
United States mechanical construction and facilities services:
Commercial market sector$1,225,897 38 %$1,133,092 39 %
Manufacturing market sector461,385 15 %394,439 14 %
Healthcare market sector367,866 12 %357,483 12 %
Institutional market sector267,373 8 %215,635 7 %
Transportation market sector47,793 1 %63,075 2 %
Water and wastewater market sector196,157 6 %141,917 5 %
Hospitality market sector22,892 1 %30,593 1 %
Short duration projects (1)
257,571 8 %246,812 9 %
Service work345,414 11 %308,871 11 %
3,192,348 2,891,917 
Less intersegment revenues(8,143)(4,345)
Total segment revenues$3,184,205 $2,887,572 
________
(1)Represents those projects which generally are completed within three months or less.
For the nine months ended September 30,
2022% of
Total		2021% of
Total
United States building services:
Mobile mechanical services$1,275,298 63 %$1,172,663 65 %
Commercial site-based services596,589 30 %494,873 27 %
Government site-based services144,411 7 %136,952 8 %
Total segment revenues$2,016,298 $1,804,488 
NOTE 3 - Revenue from Contracts with Customers (Continued)
For the nine months ended September 30,
2022% of
Total		2021% of
Total
United States industrial services:
Field services$732,826 87 %$613,197 87 %
Shop services109,698 13 %89,566 13 %
Total segment revenues$842,524 $702,763 
Total United States operations$7,762,552 $6,877,298 
For the nine months ended September 30,
2022% of
Total		2021% of
Total
United Kingdom building services:
Service work$170,840 47 %$194,049 50 %
Project work192,906 53 %192,040 50 %
Total segment revenues$363,746 $386,089 
Total operations$8,126,298 $7,263,387 
Accounts Receivable, Allowance for Credit Losses
The change in the allowance for credit losses for the nine months ended September 30, 2022 was as follows (in thousands):
Balance at December 31, 2021$23,534 
Provision for credit losses3,211 
Amounts written off against the allowance, net of recoveries(1,475)
Balance at September 30, 2022$25,270 
Contract Assets and Contract Liabilities
Net contract liabilities in the accompanying Consolidated Balance Sheets consisted of the following as of September 30, 2022 and December 31, 2021 (in thousands):
September 30,
2022		December 31, 2021
Contract assets, current$299,336 $230,143 
Contract assets, non-current— — 
Contract liabilities, current(1,046,312)(788,134)
Contract liabilities, non-current(1,972)(2,505)
Net contract liabilities$(748,948)$(560,496)
Remaining Performance Obligations
The following table presents the transaction price allocated to remaining unsatisfied performance obligations (“remaining performance obligations”) for each of our reportable segments and their respective percentages of total remaining performance obligations as of September 30, 2022 (in thousands, except for percentages):
September 30,
2022		% of Total
Remaining performance obligations:
United States electrical construction and facilities services$2,063,134 29 %
United States mechanical construction and facilities services3,662,623 51 %
United States building services1,109,221 16 %
United States industrial services122,714 2 %
Total United States operations6,957,692 98 %
United Kingdom building services143,769 2 %
Total operations$7,101,461 100 %
Remaining Performance Obligations, Expected Timing of Satisfaction
Refer to the table below for additional information regarding our remaining performance obligations, including an estimate of when we expect to recognize such remaining performance obligations as revenue (in thousands):
Within one yearGreater than one year
Remaining performance obligations:
United States electrical construction and facilities services$1,758,203 $304,931 
United States mechanical construction and facilities services3,051,512 611,111 
United States building services990,999 118,222 
United States industrial services122,714 — 
Total United States operations5,923,428 1,034,264 
United Kingdom building services120,548 23,221 
Total operations$6,043,976 $1,057,485