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Construction Joint Ventures (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Summary of Condensed Income Statement | Summary VIE financial information is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenues | $ | 56,491 |  |  | $ | 8,964 |  |  | $ | 127,373 |  |  | $ | 34,227 |
Operating income | $ | 7,953 |  |  | $ | 599 |  |  | $ | 18,473 |  |  | $ | 2,281 |
Net income | $ | 8,824 |  |  | $ | 966 |  |  | $ | 20,512 |  |  | $ | 3,119 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenues | $ | 23,137 |  |  | $ | 17,296 |  |  | $ | 59,885 |  |  | $ | 49,073 |
Income before tax | $ | 2,303 |  |  | $ | 7,876 |  |  | $ | 6,420 |  |  | $ | 16,204 |
Sterling’s noncontrolling interest: |  |  |  |  |  |  |
Revenues | $ | 11,266 |  |  | $ | 6,891 |  |  | $ | 29,051 |  |  | $ | 19,674 |
Income before tax | $ | 1,146 |  |  | $ | 3,187 |  |  | $ | 3,113 |  |  | $ | 6,605 |
Summary of Condensed Balance Sheet | Combined financial amounts of joint ventures in which the Company has a noncontrolling interest and the Company’s share of such amounts which are included in the Company’s Condensed Consolidated Financial Statements are shown below:
| September 30, 2024 |  | December 31, 2023
Current assets | $ | 53,158 |  |  | $ | 51,604 |
Current liabilities | $ | (35,023) |  |  | $ | (10,081) |
Receivables from and equity in construction joint ventures | $ | 7,814 |  |  | $ | 17,506 |

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