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Revenue from Contracts with Customers (Tables) | 12 Months Ended
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Dec. 31, 2022
Revenue from Contracts with Customers |
Schedule of contracts in progress | Contracts in progress are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, |
​ |  | 2022 |  | 2021 |
Costs incurred on contracts in progress | ​ | $ | 4,801,264 | ​ | $ | 3,723,715 | ​
Estimated earnings, net of losses | ​ |  | 796,260 | ​ |  | 589,286 | ​
Less—Billings to date | ​ |  | (5,953,973) | ​ |  | (4,527,801) | ​
Less—Unbilled accounts receivable | ​ | ​ | (77,030) | ​ | ​ | (61,881) | ​
Less—Unbilled accounts receivable credit allowance | ​ | ​ | (1,011) | ​ | ​ | (715) | ​
​ | ​ | $ | (434,490) | ​ | $ | (277,396) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Costs and estimated earnings in excess of billings | ​ | $ | 27,211 | ​ | $ | 29,900 | ​
Plus—Costs and estimated earnings in excess of billings credit allowance | ​ | ​ | 80 | ​ | ​ | 84 | ​
Billings in excess of costs and estimated earnings | ​ |  | (461,781) | ​ |  | (307,380) | ​
​ | ​ | $ | (434,490) | ​ | $ | (277,396) | ​
​
Schedule of disaggregation of revenue | Our consolidated 2022 revenue was derived from contracts to provide service activities in the mechanical and electrical services segments we serve. Refer to Note 16 “Segment Information” for additional information on our reportable segments. We disaggregate our revenue from contracts with customers by activity, customer type and service provided, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. See details in the following tables (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Year Ended December 31, | ​
Revenue by Service Provided |  |  | 2022 | ​ |  | 2021 | ​ | ​ | 2020 | ​
Mechanical Services | ​ | ​ | $ | 3,178,475 |  | 76.8 | % | ​ | $ | 2,542,623 |  | 82.7 | % | ​ | $ | 2,430,632 | ​ | 85.1 | %
Electrical Services | ​ | ​ | ​ | 961,889 | ​ | 23.2 | % | ​ | ​ | 531,013 | ​ | 17.3 | % | ​ | ​ | 426,027 | ​ | 14.9 | %
Total | ​ | ​ | $ | 4,140,364 | ​ | 100.0 | % | ​ | $ | 3,073,636 | ​ | 100.0 | % | ​ | $ | 2,856,659 | ​ | 100.0 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Year Ended December 31, | ​
Revenue by Type of Customer | ​ | ​ | 2022 | ​ | ​ | 2021 |  | ​ | 2020 |
Industrial | ​ | ​ | $ | 1,973,252 | ​ | 47.7 | % | ​ | $ | 1,356,688 | ​ | 44.1 | % | ​ | $ | 1,112,075 | ​ | 38.9 | %
Healthcare | ​ | ​ | ​ | 584,023 | ​ | 14.1 | % | ​ | ​ | 417,901 | ​ | 13.6 | % | ​ | ​ | 371,105 | ​ | 13.0 | %
Education | ​ | ​ | ​ | 445,638 | ​ | 10.8 | % | ​ | ​ | 390,251 | ​ | 12.7 | % | ​ | ​ | 487,922 | ​ | 17.1 | %
Office Buildings | ​ | ​ | ​ | 349,235 | ​ | 8.4 | % | ​ | ​ | 308,799 | ​ | 10.1 | % | ​ | ​ | 319,426 | ​ | 11.2 | %
Retail, Restaurants and Entertainment | ​ | ​ | ​ | 311,697 | ​ | 7.5 | % | ​ | ​ | 213,386 | ​ | 6.9 | % | ​ | ​ | 239,541 | ​ | 8.4 | %
Government | ​ | ​ | ​ | 255,314 | ​ | 6.2 | % | ​ | ​ | 174,813 | ​ | 5.7 | % | ​ | ​ | 163,717 | ​ | 5.7 | %
Multi-Family and Residential | ​ | ​ | ​ | 126,339 | ​ | 3.0 | % | ​ | ​ | 112,779 | ​ | 3.7 | % | ​ | ​ | 86,799 | ​ | 3.0 | %
Other | ​ | ​ | ​ | 94,866 | ​ | 2.3 | % | ​ | ​ | 99,019 | ​ | 3.2 | % | ​ | ​ | 76,074 | ​ | 2.7 | %
Total | ​ | ​ | $ | 4,140,364 | ​ | 100.0 | % | ​ | $ | 3,073,636 | ​ | 100.0 | % | ​ | $ | 2,856,659 | ​ | 100.0 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Year Ended December 31, | ​
Revenue by Activity Type | ​ | ​ | 2022 | ​ | ​ | 2021 |  | ​ | 2020 | ​
New Construction | ​ | ​ | $ | 2,011,992 | ​ | 48.6 | % | ​ | $ | 1,421,784 | ​ | 46.3 | % | ​ | $ | 1,333,739 | ​ | 46.7 | %
Existing Building Construction | ​ | ​ | ​ | 1,210,512 | ​ | 29.2 | % | ​ | ​ | 963,461 | ​ | 31.3 | % | ​ | ​ | 910,807 | ​ | 31.9 | %
Service Projects | ​ | ​ | ​ | 382,155 | ​ | 9.2 | % | ​ | ​ | 278,582 | ​ | 9.1 | % | ​ | ​ | 241,402 | ​ | 8.4 | %
Service Calls, Maintenance and Monitoring | ​ | ​ | ​ | 535,705 | ​ | 13.0 | % | ​ | ​ | 409,809 | ​ | 13.3 | % | ​ | ​ | 370,711 | ​ | 13.0 | %
Total | ​ | ​ | $ | 4,140,364 | ​ | 100.0 | % | ​ | $ | 3,073,636 | ​ | 100.0 | % | ​ | $ | 2,856,659 | ​ | 100.0 | %
​
Schedule of contract assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended December 31, | ​ | ​ | Year Ended December 31,
​ | 2022 | ​ | 2021
​ | Contract |  | Contract | ​ | Contract |  | Contract
​ | Assets | ​ | Liabilities | ​ | Assets | ​ | Liabilities
Balance at beginning of period | $ | 29,900 | ​ | $ | 307,380 | ​ | $ | 18,622 | ​ | $ | 226,237
Change due to acquisitions / disposals | ​ | 2,426 | ​ | ​ | 1,160 | ​ | ​ | 10,356 | ​ | ​ | 36,523
Change related to credit allowance | ​ | 4 | ​ | ​ | — | ​ | ​ | (5) | ​ | ​ | —
Other changes in the period | ​ | (5,119) | ​ | ​ | 239,753 | ​ | ​ | 927 | ​ | ​ | 44,620
Balance at end of period | $ | 27,211 | ​ | $ | 548,293 | ​ | $ | 29,900 |  | $ | 307,380

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