XML 45 R29.htm IDEA: XBRL DOCUMENT v3.24.0.1
Segment Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
We are one of the largest specialty contractors in the United States and a leading provider of electrical and mechanical construction and facilities services, building services, and industrial services. Our services are provided to a broad range of commercial, technology, manufacturing, industrial, healthcare, utility, and institutional customers through approximately 100 operating subsidiaries. Such operating subsidiaries are organized into the following reportable segments:
•United States electrical construction and facilities services;
•United States mechanical construction and facilities services;
•United States building services;
•United States industrial services; and
•United Kingdom building services.
Our reportable segments and related disclosures reflect certain reclassifications of prior year amounts from our United States mechanical construction and facilities services segment to our United States building services segment due to changes in our internal reporting structure aimed at realigning our service offerings.
NOTE 18 - SEGMENT INFORMATION (Continued)
The following tables present financial information for each of our reportable segments for the years ended December 31, 2023, 2022, and 2021 (in thousands): 
 202320222021
Revenues from unrelated entities:
United States electrical construction and facilities services$2,783,723 $2,433,114 $2,029,893 
United States mechanical construction and facilities services5,074,803 4,292,208 3,922,200 
United States building services3,120,134 2,754,953 2,455,129 
United States industrial services1,167,790 1,118,767 986,407 
Total United States operations12,146,450 10,599,042 9,393,629 
United Kingdom building services436,423 477,078 509,951 
Total operations$12,582,873 $11,076,120 $9,903,580 
202320222021
Total revenues:
United States electrical construction and facilities services$2,786,895 $2,438,916 $2,033,863 
United States mechanical construction and facilities services5,134,686 4,338,584 3,935,737 
United States building services3,228,056 2,856,115 2,553,566 
United States industrial services1,179,321 1,175,469 1,021,217 
Less intersegment revenues(182,508)(210,042)(150,754)
Total United States operations12,146,450 10,599,042 9,393,629 
United Kingdom building services436,423 477,078 509,951 
Total operations$12,582,873 $11,076,120 $9,903,580 

202320222021
Operating income (loss):
United States electrical construction and facilities services$230,640 $148,728 $169,355 
United States mechanical construction and facilities services530,644 330,325 312,809 
United States building services182,995 146,639 124,335 
United States industrial services35,375 19,787 (1,666)
Total United States operations979,654 645,479 604,833 
United Kingdom building services25,681 29,838 27,998 
Corporate administration(127,229)(110,440)(102,031)
Impairment loss on long-lived assets
(2,350)— — 
Total operations875,756 564,877 530,800 
Other items:
Net periodic pension (cost) income(1,119)4,311 3,625 
Interest expense(17,199)(13,199)(6,071)
Interest income15,415 2,761 949 
Income before income taxes$872,853 $558,750 $529,303 
NOTE 18 - SEGMENT INFORMATION (Continued)
202320222021
Capital expenditures:   
United States electrical construction and facilities services$6,929 $11,228 $4,985 
United States mechanical construction and facilities services37,543 11,930 10,108 
United States building services19,843 13,303 11,539 
United States industrial services10,433 9,905 6,159 
Total United States operations74,748 46,366 32,791 
United Kingdom building services1,984 2,816 3,015 
Corporate administration1,672 107 386 
Total operations$78,404 $49,289 $36,192 
202320222021
Depreciation and amortization of property, plant, and equipment:
   
United States electrical construction and facilities services$8,402 $7,543 $7,229 
United States mechanical construction and facilities services12,503 11,492 11,354 
United States building services15,672 12,964 12,090 
United States industrial services11,146 10,888 11,723 
Total United States operations47,723 42,887 42,396 
United Kingdom building services3,116 2,752 3,938 
Corporate administration983 1,657 2,013 
Total operations$51,822 $47,296 $48,347 

December 31, 2023December 31, 2022December 31, 2021
Contract assets:  
United States electrical construction and facilities services$73,464 $75,603 $48,382 
United States mechanical construction and facilities services97,252 99,632 89,102 
United States building services61,867 56,694 42,818 
United States industrial services17,129 10,727 18,992 
Total United States operations249,712 242,656 199,294 
United Kingdom building services20,173 30,520 30,849 
Total operations$269,885 $273,176 $230,143 
December 31, 2023December 31, 2022December 31, 2021
Contract liabilities:  
United States electrical construction and facilities services$399,550 $271,161 $200,966 
United States mechanical construction and facilities services925,481 594,453 386,518 
United States building services223,202 184,821 150,333 
United States industrial services17,366 17,746 16,481 
Total United States operations1,565,599 1,068,181 754,298 
United Kingdom building services29,510 30,082 33,836 
Total operations$1,595,109 $1,098,263 $788,134 
   
NOTE 18 - SEGMENT INFORMATION (Continued)
December 31, 2023December 31, 2022December 31, 2021
Long-lived assets:
United States electrical construction and facilities services$290,896 $302,448 $237,766 
United States mechanical construction and facilities services526,567 517,649 514,065 
United States building services574,917 497,892 500,368 
United States industrial services318,077 341,646 365,563 
Total United States operations1,710,457 1,659,635 1,617,762 
United Kingdom building services9,761 10,320 11,402 
Corporate administration1,741 990 2,535 
Total operations$1,721,959 $1,670,945 $1,631,699 
December 31, 2023December 31, 2022December 31, 2021
Total assets:
United States electrical construction and facilities services$1,243,707 $1,078,405 $855,417 
United States mechanical construction and facilities services2,242,833 1,835,001 1,664,822 
United States building services1,382,664 1,206,518 1,097,568 
United States industrial services571,658 552,545 589,017 
Total United States operations5,440,862 4,672,469 4,206,824 
United Kingdom building services277,066 255,547 241,740 
Corporate administration891,793 596,591 992,882 
Total operations$6,609,721 $5,524,607 $5,441,446