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Revenue from Contracts with Customers (Tables)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Performance Obligation Satisfied In Previous Period
Based on an evaluation of individual projects that were substantially complete in prior periods but had revisions to total estimated cost or anticipated contract value that resulted in an increase to profitability in excess of $1.0 million, we recognized revenue during the three and nine months ended September 30, 2024 and 2023, as summarized in the following table (in thousands):
 
For the three months ended
September 30,
For the nine months ended
September 30,
 2024202320242023
United States electrical construction and facilities services$7,540 $4,223 $9,457 $4,287 
United States mechanical construction and facilities services5,672 5,814 9,351 18,353 
Total impact$13,212 $10,037 $18,808 $22,640 
Cumulative Catch-Up Adjustment
Based on an evaluation of individual projects that had revisions to total estimated costs or anticipated contract value that resulted in a reduction of profitability in excess of $1.0 million, our operating results were negatively impacted during the three and nine months ended September 30, 2024 and 2023, as summarized in the following table (in thousands):
 
For the three months ended
September 30,
For the nine months ended
September 30,
 2024202320242023
United States electrical construction and facilities services$— $2,635 $16,758 $12,219 
United States mechanical construction and facilities services10,066 7,933 23,863 13,416 
United States building services— — — 2,977 
Total impact$10,066 $10,568 $40,621 $28,612 
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, 2024 and 2023 (in thousands, except for percentages). Refer to Note 14 - Segment Information of the notes to consolidated financial statements for additional information on how we disaggregate our revenues by reportable segment.

For the three months ended September 30,
2024% of
Total		2023% of
Total
United States electrical construction and facilities services:
Network and communications market sector$367,555 43 %$236,454 34 %
Commercial market sector70,366 8 %104,270 15 %
Manufacturing and industrial market sector109,528 13 %97,788 14 %
Healthcare market sector62,102 7 %62,126 9 %
High-tech manufacturing market sector48,960 6 %33,482 5 %
Institutional market sector51,504 6 %37,916 6 %
Transportation market sector47,720 6 %43,287 6 %
Water and wastewater market sector8,038 1 %6,327 1 %
Hospitality and entertainment market sector16,835 2 %16,708 2 %
Short-duration projects (1)
48,225 6 %43,481 6 %
Service work15,231 2 %15,927 2 %
846,064 697,766 
Less intersegment revenues(1,034)(360)
Total segment revenues$845,030 $697,406 
 ________
(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,
2024% of
Total		2023% of
Total
United States mechanical construction and facilities services:
Network and communications market sector$221,700 13 %$102,630 8 %
Commercial market sector243,629 15 %283,659 21 %
Manufacturing and industrial market sector176,127 11 %178,123 13 %
Healthcare market sector152,851 9 %123,025 9 %
High-tech manufacturing market sector388,084 23 %255,229 19 %
Institutional market sector136,218 8 %89,215 7 %
Transportation market sector13,834 1 %10,168 1 %
Water and wastewater market sector74,478 5 %65,219 5 %
Hospitality and entertainment market sector20,272 1 %14,716 1 %
Short-duration projects (1)
71,085 4 %81,851 6 %
Service work165,540 10 %128,912 10 %
1,663,818 1,332,747 
Less intersegment revenues(1,607)(3,147)
Total segment revenues$1,662,211 $1,329,600 
 ________
(1)Represents those projects which generally are completed within three months or less.
For the three months ended September 30,
2024% of
Total		2023% of
Total
United States building services:
Mechanical services$599,371 75 %$542,371 66 %
Commercial site-based services151,852 19 %222,499 27 %
Government site-based services45,700 6 %52,848 7 %
Total segment revenues$796,923 $817,718 
For the three months ended September 30,
2024% of
Total		2023% of
Total
United States industrial services:
Field services$251,552 88 %$214,341 85 %
Shop services34,858 12 %37,807 15 %
Total segment revenues$286,410 $252,148 
Total United States operations$3,590,574 $3,096,872 
For the three months ended September 30,
2024% of
Total		2023% of
Total
United Kingdom building services:
Service work$49,530 47 %$54,286 49 %
Project work56,820 53 %56,440 51 %
Total segment revenues$106,350 $110,726 
Total operations$3,696,924 $3,207,598 
NOTE 3 - Revenue from Contracts with Customers (Continued)
For the nine months ended September 30,
2024% of
Total		2023% of
Total
United States electrical construction and facilities services:
Network and communications market sector$1,002,116 42 %$665,493 33 %
Commercial market sector233,365 10 %295,188 15 %
Manufacturing and industrial market sector313,454 13 %278,912 14 %
Healthcare market sector177,059 7 %182,442 9 %
High-tech manufacturing market sector137,306 6 %102,075 5 %
Institutional market sector128,075 5 %112,577 5 %
Transportation market sector147,701 6 %118,436 6 %
Water and wastewater market sector23,337 1 %18,388 1 %
Hospitality and entertainment market sector55,143 2 %56,510 3 %
Short-duration projects (1)
150,508 6 %141,901 7 %
Service work44,789 2 %50,080 2 %
2,412,853 2,022,002 
Less intersegment revenues(3,118)(1,683)
Total segment revenues$2,409,735 $2,020,319 
________
(1)Represents those projects which generally are completed within three months or less.

For the nine months ended September 30,
2024% of
Total		2023% of
Total
United States mechanical construction and facilities services:
Network and communications market sector$527,404 11 %$289,085 8 %
Commercial market sector775,767 16 %828,809 23 %
Manufacturing and industrial market sector568,502 12 %485,809 13 %
Healthcare market sector426,275 9 %353,595 10 %
High-tech manufacturing market sector1,075,890 23 %549,678 15 %
Institutional market sector360,602 8 %224,889 6 %
Transportation market sector43,496 1 %31,615 1 %
Water and wastewater market sector224,921 5 %201,167 6 %
Hospitality and entertainment market sector49,902 1 %38,324 1 %
Short-duration projects (1)
253,916 5 %237,246 7 %
Service work443,055 9 %368,378 10 %
4,749,730 3,608,595 
Less intersegment revenues(4,673)(6,324)
Total segment revenues$4,745,057 $3,602,271 
________
(1)Represents those projects which generally are completed within three months or less.
NOTE 3 - Revenue from Contracts with Customers (Continued)
For the nine months ended September 30,
2024% of
Total		2023% of
Total
United States building services:
Mechanical services$1,695,254 72 %$1,519,410 65 %
Commercial site-based services522,353 22 %639,193 28 %
Government site-based services141,584 6 %159,502 7 %
Total segment revenues$2,359,191 $2,318,105 
For the nine months ended September 30,
2024% of
Total		2023% of
Total
United States industrial services:
Field services$837,224 87 %$751,062 86 %
Shop services127,286 13 %124,252 14 %
Total segment revenues$964,510 $875,314 
Total United States operations$10,478,493 $8,816,009 
For the nine months ended September 30,
2024% of
Total		2023% of
Total
United Kingdom building services:
Service work$150,534 47 %$157,631 48 %
Project work167,070 53 %170,012 52 %
Total segment revenues$317,604 $327,643 
Total operations$10,796,097 $9,143,652 
Accounts Receivable, Allowance for Credit Losses
The change in the allowance for credit losses for the nine months ended September 30, 2024 was as follows (in thousands):
Balance at December 31, 2023$22,502 
Provision for credit losses12,585 
Amounts written off against the allowance, net of recoveries(2,385)
Balance at September 30, 2024$32,702 
Contract Assets and Contract Liabilities
Net contract liabilities in the accompanying Consolidated Balance Sheets consisted of the following amounts as of September 30, 2024 and December 31, 2023 (in thousands):
September 30,
2024		December 31, 2023
Contract assets, current$296,523 $269,885 
Contract assets, non-current— — 
Contract liabilities, current(1,881,444)(1,595,109)
Contract liabilities, non-current(1,995)(1,812)
Net contract liabilities$(1,586,916)$(1,327,036)
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, 2024 (in thousands, except for percentages):
September 30,
2024		% of Total
Remaining performance obligations:
United States electrical construction and facilities services$2,767,672 28 %
United States mechanical construction and facilities services5,362,689 55 %
United States building services1,334,163 14 %
United States industrial services110,583 1 %
Total United States operations9,575,107 98 %
United Kingdom building services214,345 2 %
Total operations$9,789,452 100 %
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$2,263,240 $504,432 
United States mechanical construction and facilities services4,483,395 879,294 
United States building services1,208,377 125,786 
United States industrial services110,583 — 
Total United States operations8,065,595 1,509,512 
United Kingdom building services175,644 38,701 
Total operations$8,241,239 $1,548,213