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Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Schedule of Changes in Benefit Obligations and Assets
The change in benefit obligations and assets of the UK Plan for the years ended December 31, 2022 and 2021 consisted of the following components (in thousands):
 20222021
Change in pension benefit obligation  
Benefit obligation at beginning of year$349,147 $383,142 
Interest cost5,693 5,326 
Actuarial gain(116,372)(22,071)
Benefits paid(11,095)(13,939)
Foreign currency exchange rate changes(33,417)(3,311)
Benefit obligation at end of year193,956 349,147 
Change in pension plan assets  
Fair value of plan assets at beginning of year356,532 347,411 
Actual (loss) return on plan assets(105,544)21,809 
Employer contributions4,875 4,956 
Benefits paid(11,095)(13,939)
Foreign currency exchange rate changes(34,484)(3,705)
Fair value of plan assets at end of year210,284 356,532 
Funded status at end of year$16,328 $7,385 
Schedule of Weighted Average Assumptions Used To Calculate Benefit Obligation
The weighted average assumptions used to determine benefit obligations of the UK Plan as of December 31, 2022 and 2021 were as follows:
 20222021
Discount rate5.0 %1.8 %
Components Of Net Periodic Pension Cost (Income)
The components of net periodic pension cost (income) of the UK Plan for the years ended December 31, 2022, 2021, and 2020 were as follows (in thousands):
 202220212020
Interest cost$5,693 $5,326 $6,401 
Expected return on plan assets(12,088)(12,726)(12,023)
Amortization of unrecognized loss2,073 3,642 2,389 
Net periodic pension cost (income)$(4,322)$(3,758)$(3,233)
Schedule of Weighted Average Assumptions Used To Calculate Net Periodic Pension Cost
The weighted average assumptions used to determine net periodic pension cost of the UK Plan for the years ended December 31, 2022, 2021, and 2020 were as follows:
 202220212020
Discount rate1.8 %1.4 %2.1 %
Annual rate of return on plan assets3.9 %3.9 %4.3 %
Schedule of Net Periodic Benefit Cost Not yet Recognized
Amounts pertaining to the UK Plan not yet reflected in net periodic pension cost and included in accumulated other comprehensive loss were as follows (in thousands):
 December 31, 2022December 31, 2021
Unrecognized actuarial losses$79,313 $89,572 
Schedule of Weighted Average Asset Allocations and Weighted Average Target Allocations The weighted average asset allocations and weighted average target allocations at December 31, 2022 and 2021 were as follows:
 
Asset CategoryTarget
Asset
Allocation		Actual
December 31, 2022		Actual
December 31, 2021
Debt75.0 %80.7 %76.0 %
Cash and cash equivalents15.0 %9.4 %16.5 %
Real estate10.0 %9.9 %7.5 %
Total100.0 %100.0 %100.0 %
Schedule of Plan Assets Fair Value Hierarchy
The following tables set forth the fair value of assets of the UK Plan as of December 31, 2022 and 2021 (in thousands):
 Assets at Fair Value as of December 31, 2022
Asset Category    Level 1Level 2Level 3Total
Corporate debt funds$— $23,998 $— $23,998 
Government bond funds— 45,619 — 45,619 
Cash and cash equivalents19,829 — — 19,829 
Total plan assets in fair value hierarchy$19,829 $69,617 $— 89,446 
Plan assets measured using NAV as a practical expedient: (1)
Debt funds99,990 
Real estate funds20,848 
Total plan assets at fair value$210,284 
 Assets at Fair Value as of December 31, 2021
Asset Category    Level 1Level 2Level 3Total
Corporate debt funds$— $67,226 $— $67,226 
Government bond funds— 91,899 — 91,899 
Cash and cash equivalents58,772 — — 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 funds111,971 
Real estate funds26,664 
Total plan assets at fair value$356,532 
_________________
(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.
Schedule of Expected Benefit Payments
The following estimated benefit payments are expected to be made from the UK Plan in the following years (in thousands):
 Pension
Benefit Payments
2023$9,884 
2024$10,201 
2025$10,627 
2026$11,106 
2027$11,476 
Succeeding five years$63,182 
Schedule of Multiemployer Plans
The following table lists all MEPPs to which our contributions exceeded $2.0 million in 2022. This table also lists all MEPPs to which we contributed in 2022 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 FundEIN/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)
20222021202220212020
National Automatic Sprinkler Industry Pension Fund52-6054620001GreenGreenNA$21,583 $20,987 $17,504 YesMay 2023 to
July 2027
United Association National Pension Fund (Formerly Plumbers & Pipefitters National Pension Fund)52-6152779001GreenGreenNA15,288 14,723 14,095 NoFebruary 2023 to
July 2027
National Electrical Benefit Fund53-0181657001GreenGreenNA15,192 12,310 11,573 NoMay 2023 to
May 2027
Sheet Metal Workers National Pension Fund52-6112463001GreenYellowNA9,505 10,307 11,621 NoMay 2023 to
June 2026
Pension, Hospitalization & Benefit Plan of the Electrical Industry-Pension Trust Account13-6123601001GreenGreenNA8,122 7,355 6,750 NoApril 2023 to
April 2025
Electrical Workers Local No. 26 Pension Trust Fund52-6117919001GreenGreenNA7,844 9,346 7,086 YesMay 2023 to August 2024
Plumbers Pipefitters & Mechanical Equipment Service Local Union 392 Pension Plan31-0655223001RedRedImplemented7,674 7,110 5,667 YesMay 2025
Central Pension Fund of the IUOE & Participating Employers36-6052390001GreenGreenNA7,651 6,627 6,115 NoMarch 2023 to
December 2026
Boilermaker-Blacksmith National Pension Trust48-6168020001GreenYellowNA6,434 3,479 1,574 NoSeptember 2023 to
April 2025
Sheet Metal Workers Pension Plan of Northern California51-6115939001RedRedImplemented6,074 7,850 6,605 NoJune 2023 to June 2026
Edison Pension Plan93-6061681001GreenGreenNA5,325 4,229 3,864 YesDecember 2023
Pipefitters Union Local 537 Pension Fund51-6030859001GreenGreenNA5,039 5,922 4,275 YesAugust 2025
Southern California Pipe Trades Retirement Fund51-6108443001GreenGreenNA4,650 6,272 4,043 NoAugust 2023 to August 2026
Heating, Piping & Refrigeration Pension Fund52-1058013001GreenGreenNA4,625 5,591 3,349 YesJuly 2023 to July 2025
Southern California IBEW-NECA Pension Trust Fund95-6392774001YellowYellowImplemented4,287 4,876 5,719 NoJune 2023 to
May 2026
San Diego Electrical Pension Plan95-6101801001GreenGreenNA4,258 4,068 4,383 YesMay 2024
IBEW 332 Pension Fund - Part A94-2688032004GreenGreenNA4,177 2,339 1,211 NoMay 2023 to May 2024
U.A. Local 393 Pension Trust Fund Defined Benefit94-6359772002GreenGreenNA3,517 3,507 3,168 YesJune 2023 to July 2027
Electrical Contractors Association of the City of Chicago Local Union 134, IBEW Joint Pension Trust of Chicago Pension Plan 251-6030753002GreenGreenNA3,516 4,225 3,004 NoJune 2023
Eighth District Electrical Pension Fund84-6100393001GreenGreenNA3,339 3,298 3,242 YesMay 2023 to August 2024
Northern California Pipe Trades Pension Plan94-3190386001GreenGreenNA3,238 2,663 2,463 NoJune 2023 to June 2024
NOTE 14 - RETIREMENT PLANS (Continued)
Pension FundEIN/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)
20222021202220212020
NECA-IBEW Pension Trust Fund51-6029903001GreenGreenNA3,034 2,491 2,369 NoMay 2023 to December 2023
Arizona Pipe Trades Pension Trust Fund86-6025734001GreenGreenNA2,940 2,020 2,301 YesJune 2023 to June 2024
Sheet Metal Workers Pension Plan of Southern California, Arizona & Nevada95-6052257001GreenYellowNA2,921 3,322 2,706 NoJune 2023 to June 2026
Electrical Workers Pension Plan Local 103 IBEW04-6063734001GreenGreenNA2,900 — — YesAugust 2023
IBEW Local 701 Pension Fund36-6455509001GreenGreenNA2,625 1,276 1,197 YesMay 2023 to September 2023
IBEW Local No. 82 Pension Plan31-6127268001GreenGreenNA2,549 956 18 YesDecember 2023 to October 2025
Local No. 697 IBEW and Electrical Industry Pension Fund51-6133048001GreenGreenNA2,287 1,753 1,583 YesMay 2023
U.A. Local 38 Defined Benefit Pension Fund94-1285319001GreenGreenNA2,010 1,903 2,874 NoJune 2023
Plumbing & Pipe Fitting Local 219 Pension Fund34-6682376001RedRedImplemented1,172 1,167 1,680 YesMay 2023
Plumbers & Pipefitters Local 162 Pension Fund31-6125999001YellowYellowImplemented1,132 1,034 969 YesMay 2023
Steamfitters Local Union No. 420 Pension Plan23-2004424001RedRedImplemented1,018 677 553 NoMay 2023 to April 2024
Carpenters Pension Trust Fund for Northern California94-6050970001RedRedImplemented532 568 385 NoJune 2023
Other Multiemployer Pension Plans    59,707 56,830 53,780  Various
Total Contributions    $236,165 $221,081 $197,726   
 _________________
(1)    The zone status represents the most recent available information for the respective MEPP, which may be 2021 or earlier for the 2022 year and 2020 or earlier for the 2021 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 therefore is not disclosed.