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Investments in and Advances to Joint Ventures (Tables)

9 Months Ended

Sep. 30, 2025

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Financial Information of Consolidated Joint Ventures

The following represents financial information for consolidated joint ventures included in the consolidated financial statements (in thousands):


		September 30, 2025				December 31, 2024
Current assets		$	515,072			$	519,450
Noncurrent assets			8,184				9,841
Total assets			523,256				529,291
Current liabilities			309,665				296,774
Noncurrent liabilities			3,022				2,203
Total liabilities			312,687				298,977
Total joint venture equity		$	210,569			$	230,314


		Three Months Ended								Nine Months Ended
		September 30, 2025				September 30, 2024				September 30, 2025				September 30, 2024
Revenue		$	213,752			$	193,461			$	602,905			$	582,209
Costs			178,123				165,873				505,145				500,308
Net income		$	35,629			$	27,588			$	97,760			$	81,901
Net income attributable to noncontrolling interests		$	17,671			$	13,638			$	(48,514	)		$	40,428

Summary of Financial Information for Unconsolidated Joint Ventures

The following represents the financial information of the Company’s unconsolidated joint ventures as presented in their unaudited financial statements (in thousands):


		September 30, 2025				December 31, 2024
Current assets		$	1,431,451			$	1,477,950
Noncurrent assets			433,197				431,476
Total assets			1,864,648				1,909,426
Current liabilities			937,469				947,072
Noncurrent liabilities			477,035				469,808
Total liabilities			1,414,504				1,416,880
Total joint venture equity		$	450,144			$	492,546
Investments in and advances to unconsolidated joint ventures		$	156,421			$	138,759


		Three Months Ended								Nine Months Ended
		September 30, 2025				September 30, 2024				September 30, 2025				September 30, 2024
Revenue		$	608,305			$	581,232			$	1,558,656			$	1,598,764
Costs			563,832				560,492				1,476,009				1,593,213
Net income		$	44,473			$	20,740			$	82,647			$	5,551
Equity in earnings of unconsolidated joint ventures		$	8,266			$	872			$	6,937			$	(18,025	)

Summary of Financial Statement Impact From Changes In Estimates on an Unconsolidated Joint Ventures

The following table presents certain financial statement impacts from changes in estimates on unconsolidated joint ventures in the Critical Infrastructure segment. In certain instances, revisions in estimates on unconsolidated joint ventures do not exceed the threshold in any particular quarter but exceed the threshold on a year-to-date basis (in thousands):


		Three Months Ended								Nine Months Ended
		September 30, 2025				September 30, 2024				September 30, 2025				September 30, 2024
Operating loss		$	-			$	(6,716	)		$	(14,478	)		$	(37,509	)
Net loss			-				(4,936	)			(10,869	)			(35,258	)
Diluted loss per share		$	-			$	(0.04	)		$	(0.10	)		$	(0.33	)