Commitments and Contingencies	9 Months Ended
Sep. 30, 2024
Commitments and Contingencies.
Commitments and Contingencies	Note 13—Commitments and Contingencies Legal proceedings — We are subject to claims and legal proceedings from time to time arising out of our business. We accrue for loss contingencies when we conclude that a loss from such claims or legal proceedings is probable and the amount is reasonably estimable. When only a range of amounts is reasonably estimable and no amount within the range is more likely than another, the low end of the range is recorded. While the ultimate amount of liability incurred in any of these matters is dependent on future developments, in our opinion, the recorded liability is adequate to cover the future payment of such liability and claims. Any adjustments to the recorded liability will be reflected in earnings in the periods in which such adjustments become known. In determining whether it is possible to provide a reasonably estimable amount of possible loss, or range of possible loss, we review and evaluate our litigation and regulatory matters on a quarterly basis in light of potentially relevant factual and legal developments. If we determine an unfavorable outcome is not probable, or probable but not reasonably estimable, we do not accrue for a potential loss contingency, but the matter, if potentially material, is disclosed below. Management is unable to ascertain the ultimate outcome of claims and legal proceedings, and unfavorable or unexpected outcomes could result in additional expense that could be significant to results of operations in a particular year or quarter. However, after taking into consideration relevant factors concerning these matters, management believes that the reasonably possible outcome of such claims will not, individually or in the aggregate, have a material adverse effect on our consolidated results of operations, financial condition or cash flow. Bonding — As of September 30, 2024 and December 31, 2023, we had bid and completion bonds issued and outstanding totaling approximately $7.4 billion and $5.9 billion, respectively. The remaining performance obligation on those bonded projects totaled approximately $2.9 billion and $2.7 billion as of September 30, 2024, and December 31, 2023, respectively.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2024

Note 13—Commitments and Contingencies

Legal proceedings — We are subject to claims and legal proceedings from time to time arising out of our business. We accrue for loss contingencies when we conclude that a loss from such claims or legal proceedings is probable and the amount is reasonably estimable. When only a range of amounts is reasonably estimable and no amount within the range is more likely than another, the low end of the range is recorded. While the ultimate amount of liability incurred in any of these matters is dependent on future developments, in our opinion, the recorded liability is adequate to cover the future payment of such liability and claims. Any adjustments to the recorded liability will be reflected in earnings in the periods in which such adjustments become known. In determining whether it is possible to provide a reasonably estimable amount of possible loss, or range of possible loss, we review and evaluate our litigation and regulatory matters on a quarterly basis in light of potentially relevant factual and legal developments. If we determine an unfavorable outcome is not probable, or probable but not reasonably estimable, we do not accrue for a potential loss contingency, but the matter, if potentially material, is disclosed below.

Management is unable to ascertain the ultimate outcome of claims and legal proceedings, and unfavorable or unexpected outcomes could result in additional expense that could be significant to results of operations in a particular year or quarter. However, after taking into consideration relevant factors concerning these matters, management believes that the reasonably possible outcome of such claims will not, individually or in the aggregate, have a material adverse effect on our consolidated results of operations, financial condition or cash flow.

Bonding — As of September 30, 2024 and December 31, 2023, we had bid and completion bonds issued and outstanding totaling approximately $7.4 billion and $5.9 billion, respectively. The remaining performance obligation on those bonded projects totaled approximately $2.9 billion and $2.7 billion as of September 30, 2024, and December 31, 2023, respectively.