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Revenue From Customers
9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue From Customers
4.REVENUE FROM CUSTOMERS
Remaining Performance Obligations (“RPOs”)—RPOs represent the aggregate amount of our contract transaction price related to performance obligations that are unsatisfied or partially satisfied at the end of the period. RPOs include the entire expected revenue values for joint ventures we consolidate and our proportionate value for those we proportionately consolidate. RPOs may not be indicative of future operating results. Projects included in RPOs may be canceled or modified by customers; however, the customer would be required to compensate the Company for additional contractual costs for cancellation or modifications. The following table presents the Company’s RPOs, by segment:
September 30,
2023
December 31,
2022
E-Infrastructure Solutions RPOs$891,356 $603,227 
Transportation Solutions RPOs1,022,927 713,173 
Building Solutions RPOs - Commercial96,124 97,942 
Total RPOs$2,010,407 $1,414,342 
The Company expects to recognize approximately 70% of its RPOs as revenue during the next twelve months, and the balance thereafter.
Revenue DisaggregationThe following tables present the Company’s revenue disaggregated by major end market and contract type:
Three Months Ended September 30,Nine Months Ended September 30,
Revenues by major end market2023202220232022
E-Infrastructure Solutions Revenues$253,948 $255,530 $719,936 $658,005 
Heavy Highway146,864 112,615 327,440 307,070 
Aviation18,948 25,441 50,694 61,558 
Other Non-Highway Services27,184 19,168 77,089 47,377 
Transportation Solutions Revenues192,996 157,224 455,223 416,005 
Residential77,866 51,304 204,993 166,045 
Commercial35,537 28,982 106,099 80,774 
Building Solutions Revenues113,403 80,286 311,092 246,819 
Total Revenues$560,347 $493,040 $1,486,251 $1,320,829 
Revenues by contract type
Lump-Sum$291,149 $279,185 $822,663 $723,637 
Fixed-Unit Price190,170 161,993 454,359 427,153 
Residential and Other79,028 51,862 209,229 170,039 
Total Revenues$560,347 $493,040 $1,486,251 $1,320,829 
Variable Consideration
The Company has projects that it is in the process of negotiating, or awaiting final approval of, unapproved change orders and claims with its customers. The Company is proceeding with its contractual rights to recoup additional costs incurred from its customers based on completing work associated with change orders, including change orders with pending change order pricing, or claims related to significant changes in scope which resulted in substantial delays and additional costs in completing the work. Unapproved change order and claim information has been provided to the Company’s customers and negotiations with the customers are ongoing. If additional progress with an acceptable resolution is not reached, legal action will be taken. Based upon the Company’s review of the provisions of its contracts, specific costs incurred and other related evidence supporting the unapproved change orders and claims, together in some cases as necessary with the views of the Company’s outside claim consultants, the Company concluded it was appropriate to include in project price amounts of $7,825 and $8,649, at September 30, 2023 and December 31, 2022, respectively, relating to unapproved change orders and claims. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined.
Contract Estimates
Accounting for long-term contracts and programs involves the use of various techniques to estimate total contract revenue and costs. For long-term contracts, the Company estimates the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract and recognizes such profit over the life of the contract. Contract estimates are based on various assumptions to project the outcome of future events that often span several years. These assumptions include labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials and the performance of subcontractors. Changes in job performance, job conditions and estimated profitability, including those changes arising from contract penalty provisions and final contract settlements, may result in revisions to costs and income and are recognized in the period in which the revisions are determined. Changes in contract estimates resulted in net increases of $19,822 and $36,557 for the three and nine months ended September 30, 2023, respectively, and net increases of $14,641 and $43,634 for the three and nine months ended September 30, 2022, respectively, included in “Operating income” on the Condensed Consolidated Statements of Operations.