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v3.21.2

Segments and Related Information (Tables) | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Schedule of Financial Information by Reportable Segment |
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
Revenue: | 2021 |  | 2020 |  | 2021 |  | 2020
Communications (a) | $ | 670.3 |  |  | $ | 645.4 |  |  | $ | 1,869.3 |  |  | $ | 1,943.8 |
Clean Energy and Infrastructure | 518.4 |  |  | 468.9 |  |  | 1,350.3 |  |  | 1,181.4 |
Oil and Gas | 858.4 |  |  | 462.5 |  |  | 2,205.3 |  |  | 1,190.1 |
Electrical Transmission | 365.3 |  |  | 128.5 |  |  | 731.4 |  |  | 380.7 |
Other | 0.0 |  |  | 0.1 |  |  | 0.0 |  |  | 0.2 |
Eliminations | (8.1) |  |  | (7.1) |  |  | (13.9) |  |  | (12.0) |
Consolidated revenue | $ | 2,404.3 |  |  | $ | 1,698.3 |  |  | $ | 6,142.4 |  |  | $ | 4,684.2 |
(a) Revenue generated primarily by utilities customers represented 22.2% and 15.7% of Communications segment revenue for the three month periods ended September 30, 2021 and 2020, respectively, and represented 21.0% and 15.3% for the nine month periods ended September 30, 2021 and 2020, respectively.
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
EBITDA: | 2021 |  | 2020 |  | 2021 |  | 2020
Communications | $ | 71.6 |  |  | $ | 79.6 |  |  | $ | 193.1 |  |  | $ | 206.8 |
Clean Energy and Infrastructure | 13.8 |  |  | 34.4 |  |  | 40.2 |  |  | 69.5 |
Oil and Gas | 170.6 |  |  | 160.4 |  |  | 476.2 |  |  | 315.0 |
Electrical Transmission | 34.9 |  |  | 9.1 |  |  | 47.8 |  |  | 14.2 |
Other | 7.5 |  |  | 7.6 |  |  | 23.3 |  |  | 22.5 |
Corporate | (26.6) |  |  | (37.5) |  |  | (86.3) |  |  | (100.6) |
Consolidated EBITDA | $ | 271.8 |  |  | $ | 253.6 |  |  | $ | 694.3 |  |  | $ | 527.4 |
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
Depreciation and Amortization: | 2021 |  | 2020 |  | 2021 |  | 2020
Communications | $ | 26.4 |  |  | $ | 21.1 |  |  | $ | 72.0 |  |  | $ | 62.1 |
Clean Energy and Infrastructure | 13.0 |  |  | 5.0 |  |  | 31.1 |  |  | 13.7 |
Oil and Gas | 55.5 |  |  | 47.5 |  |  | 163.8 |  |  | 107.7 |
Electrical Transmission | 21.1 |  |  | 6.2 |  |  | 41.3 |  |  | 18.6 |
Other | 0.0 |  |  | 0.0 |  |  | 0.0 |  |  | 0.0 |
Corporate | 2.7 |  |  | 2.8 |  |  | 8.5 |  |  | 8.5 |
Consolidated depreciation and amortization | $ | 118.7 |  |  | $ | 82.6 |  |  | $ | 316.7 |  |  | $ | 210.6 |
Reconciliation of Consolidated Income before Income Taxes to EBITDA |
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
EBITDA Reconciliation: | 2021 |  | 2020 |  | 2021 |  | 2020
Income before income taxes | $ | 140.0 |  |  | $ | 157.4 |  |  | $ | 338.3 |  |  | $ | 271.5 |
Plus: |  |  |  |  |  |  |
Interest expense, net | 13.1 |  |  | 13.6 |  |  | 39.4 |  |  | 45.4 |
Depreciation | 95.4 |  |  | 71.4 |  |  | 262.1 |  |  | 182.2 |
Amortization of intangible assets | 23.4 |  |  | 11.2 |  |  | 54.5 |  |  | 28.4 |
Consolidated EBITDA | $ | 271.8 |  |  | $ | 253.6 |  |  | $ | 694.3 |  |  | $ | 527.4 |
Schedule of Revenue by Major Customers by Reporting Segments | Revenue concentration information for significant customers as a percentage of total consolidated revenue was as follows:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
Customer: | 2021 |  | 2020 |  | 2021 |  | 2020
Enbridge, Inc. (a) | 21% |  | 1% |  | 19% |  | 1%
AT&T (excluding DIRECTV®) (b)(c) | 7% |  | 12% |  | 8% |  | 16%
(a) The Company’s relationship with Enbridge, Inc. is based upon various construction contracts for pipeline activities, for which the related revenue is included within the Oil and Gas segment. (b) DIRECTV® was spun off from AT&T in July 2021. Revenue from DIRECTV® is excluded from AT&T for all periods presented. (c) The Company’s relationship with AT&T is based upon multiple separate master service and other service agreements, including for installation and maintenance services, as well as construction/installation contracts for AT&T’s: (i) wireless; (ii) wireline/fiber; and (iii) other installation services, including smart city initiatives. Revenue from AT&T is included within the Communications segment.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. + References No definition available. + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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