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Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 2025
Revenue Recognition [Abstract]  
Summary of Total Revenue by Company's Segments

The following table summarizes total revenue by the Company’s segments:

 

 

Three months ended March 31,

 

 

2025

 

 

2024

 

 

(in thousands)

 

Revenue:

 

 

 

 

 

 

Engine Services

 

$

1,268,313

 

 

$

1,097,392

 

Component Repair Services

 

 

167,275

 

 

 

138,331

 

Total revenue

 

$

1,435,588

 

 

$

1,235,723

 

Summary of Revenue from Customers Contribution

The following table presents revenues from customers that contributed to more than 10% of revenues:

 

 

Three months ended March 31,

 

 

2025

 

 

2024

 

Customer A

 

 

15.9

%

 

 

22.9

%

Summary of Revenues from External Customers By End Market

The following table presents revenues from external customers by end market:

 

 

Three months ended March 31,

 

 

2025

 

 

2024

 

 

(in thousands)

 

Commercial Aerospace

 

$

853,036

 

 

$

722,515

 

Military & Helicopter

 

 

249,527

 

 

 

227,103

 

Business Aviation

 

 

283,293

 

 

 

250,928

 

Other

 

 

49,732

 

 

 

35,177

 

 

$

1,435,588

 

 

$

1,235,723

 

 

Schedule of Contract Assets and Contract Liabilities The following table provides information about contract assets and contract liabilities from contracts with customers:

 

 

 

March 31, 2025

 

 

December 31, 2024

 

 

(in thousands)

 

Contract assets

 

$

972,126

 

 

$

915,940

 

Less: allowance for credit loss

 

 

(519

)

 

 

(740

)

Contract assets, net

 

$

971,607

 

 

$

915,200

 

Contract liabilities

 

$

407,277

 

 

$

400,025