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Revenue from Contracts with Customers (Tables)
12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Cumulative Catch-Up Adjustment
Based on an evaluation of individual projects that had revisions to total estimated costs, or anticipated contract value, which resulted in a reduction of profitability in excess of $1.0 million, our operating results were negatively impacted during the years ended December 31, 2023, 2022, and 2021, as summarized in the following table (in thousands):
 202320222021
United States electrical construction and facilities services
$12,535 $33,463 $4,627 
United States mechanical construction and facilities services
10,864 13,679 2,264 
United States building services
5,658 1,261 — 
Total impact
$29,057 $48,403 $6,891 
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 (in thousands, except for percentages). Refer to Note 18 - Segment Information of the notes to consolidated financial statements for additional information on how we disaggregate our revenues by reportable segment.
Due to continued growth in certain of our end markets, during 2023, we have expanded the market sectors included in the disclosure for each of our United States construction segments, as shown below. All prior period disclosures have been adjusted to additionally reflect these changes.
2023% of
Total
2022% of
Total
2021% of
Total
United States electrical construction and facilities services:
Network and communications market sector
$934,455 34 %$801,052 33 %$621,139 30 %
Commercial market sector402,886 14 %414,539 17 %398,996 20 %
Manufacturing and industrial market sector
394,804 14 %301,606 12 %230,894 11 %
Healthcare market sector242,931 %178,348 %107,442 %
High-tech manufacturing market sector
140,471 %88,544 %35,196 %
Institutional market sector147,375 %154,077 %178,729 %
Transportation market sector167,976 %166,563 %196,313 10 %
Water and wastewater market sector21,234 %21,251 %14,962 %
Hospitality and entertainment market sector
81,815 %33,818 %23,257 %
Short duration projects (1)
186,722 %211,797 %185,277 %
Service work65,338 %65,709 %40,963 %
2,786,007 2,437,304 2,033,168 
Less intersegment revenues(2,284)(4,190)(3,275)
Total segment revenues$2,783,723 $2,433,114 $2,029,893 
2023% of
Total
2022% of
Total
2021% of
Total
United States mechanical construction and facilities services:
Network and communications market sector
$410,397 %$295,261 %$279,953 %
Commercial market sector1,115,993 22 %1,079,872 25 %1,042,751 27 %
Manufacturing and industrial market sector
698,993 14 %632,332 15 %579,176 15 %
Healthcare market sector489,485 10 %479,937 11 %487,111 12 %
High-tech manufacturing market sector
845,251 16 %320,597 %173,302 %
Institutional market sector316,255 %331,727 %263,285 %
Transportation market sector42,789 %57,026 %84,503 %
Water and wastewater market sector286,912 %261,501 %213,314 %
Hospitality and entertainment market sector
52,919 %44,615 %66,059 %
Short duration projects (1)
324,056 %333,066 %292,795 %
Service work500,853 10 %467,156 11 %446,786 11 %
5,083,903 4,303,090 3,929,035 
Less intersegment revenues(9,100)(10,882)(6,835)
Total segment revenues$5,074,803 $4,292,208 $3,922,200 
_________________
(1)Represents those projects which generally are completed within three months or less.
NOTE 3 - REVENUE FROM CONTRACTS WITH CUSTOMERS (Continued)
2023% of
Total
2022% of
Total
2021% of
Total
United States building services:
Mechanical services
$2,042,244 65 %$1,748,455 64 %$1,590,506 65 %
Commercial site-based services865,232 28 %810,210 29 %680,351 28 %
Government site-based services212,658 %196,288 %184,272 %
Total segment revenues$3,120,134 $2,754,953 $2,455,129 

2023% of
Total
2022% of
Total
2021% of
Total
United States industrial services:
Field services$991,466 85 %$972,894 87 %$853,143 86 %
Shop services176,324 15 %145,873 13 %133,264 14 %
Total segment revenues$1,167,790 $1,118,767 $986,407 
Total United States operations$12,146,450 $10,599,042 $9,393,629 
2023% of
Total
2022% of
Total
2021% of
Total
United Kingdom building services:
Service work$210,414 48 %$221,123 46 %$261,889 51 %
Project work226,009 52 %255,955 54 %248,062 49 %
Total segment revenues$436,423 $477,078 $509,951 
Total operations$12,582,873 $11,076,120 $9,903,580 
Contract Assets and Contract Liabilities
Net contract liabilities in the accompanying Consolidated Balance Sheets consisted of the following amounts as of December 31, 2023 and 2022 (in thousands):
December 31, 2023December 31, 2022
Contract assets, current$269,885 $273,176 
Contract assets, non-current— — 
Contract liabilities, current(1,595,109)(1,098,263)
Contract liabilities, non-current(1,812)(2,273)
Net contract liabilities$(1,327,036)$(827,360)
Net Contract Liabilities on Uncompleted Construction Projects
Included within net contract liabilities were $1,261.1 million and $763.2 million of net contract liabilities on uncompleted construction projects as of December 31, 2023 and 2022, respectively, as follows (in thousands):
 December 31, 2023December 31, 2022
Costs incurred on uncompleted construction contracts$15,100,829 $13,231,612 
Estimated earnings, thereon2,381,049 2,025,929 
 17,481,878 15,257,541 
Less: billings to date18,742,934 16,020,704 
 $(1,261,056)$(763,163)
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 December 31, 2023 (in thousands, except for percentages):
December 31, 2023% of Total
Remaining performance obligations:
United States electrical construction and facilities services$2,387,844 27 %
United States mechanical construction and facilities services4,940,519 56 %
United States building services1,264,818 14 %
United States industrial services113,291 %
Total United States operations8,706,472 98 %
United Kingdom building services140,949 %
Total operations$8,847,421 100 %
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 year
Greater than one year
Remaining performance obligations:
        United States electrical construction and facilities services$1,978,179 $409,665 
        United States mechanical construction and facilities services4,314,365 626,154 
        United States building services1,157,845 106,973 
        United States industrial services113,291 — 
        Total United States operations7,563,680 1,142,792 
        United Kingdom building services94,711 46,238 
        Total operations$7,658,391 $1,189,030