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Revenue (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of contract assets

Contract assets consist of the following (in thousands):

​	​	​	​	​	​	​
​	​	September 30,		​	December 31,
​		2024			2023
Unbilled revenue	​	$	533,852	​	$	604,166
Retention receivable	​	​	227,105	​	​	202,358
Contract materials (not yet installed)	​		44,966	​		39,652
​	​	$	805,923	​	$	846,176

Schedule of contract liabilities

Contract liabilities consist of the following (in thousands):

​	​	​	​	​	​	​
​	​	September 30,		​	December 31,
​		2024			2023
Deferred revenue	​	$	655,215	​	$	363,159
Accrued loss provision	​		1,886	​		3,317
​	​	$	657,101	​	$	366,476

Schedule of revenue disaggregation by various categories

MSA and Non-MSA revenue was as follows (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​	​	For the three months ended September 30, 2024
Segment		MSA			Non-MSA			Total
Utilities	​	$	552,741		$	113,499		$	666,240
Energy	​	​	72,295	​	​	938,563	​	​	1,010,858
Intersegment eliminations	​	​	(20)	​	​	(27,992)	​	​	(28,012)
Total	​	$	625,016		$	1,024,070		$	1,649,086

​

​

​	​	​	​	​	​	​	​	​	​
​	​	For the nine months ended September 30, 2024
Segment		MSA			Non-MSA			Total
Utilities	​	$	1,430,696	​	$	344,266	​	$	1,774,962
Energy	​	​	243,013	​	​	2,688,915	​	​	2,931,928
Intersegment eliminations	​	​	(258)	​	​	(81,124)	​	​	(81,382)
Total	​	$	1,673,451		$	2,952,057		$	4,625,508

​

​

​	​	​	​	​	​	​	​	​	​
​	​	For the three months ended September 30, 2023
Segment	​	MSA			Non-MSA			Total
Utilities	​	$	505,728		$	144,936		$	650,664
Energy	​	​	78,825	​	​	808,918	​	​	887,743
Intersegment eliminations	​	​	(768)	​	​	(8,153)	​	​	(8,921)
Total	​	$	583,785		$	945,701		$	1,529,486

​

​

​	​	​	​	​	​	​	​	​	​
​	​	For the nine months ended September 30, 2023
Segment	​	MSA		​	Non-MSA		​	Total
Utilities	​	$	1,359,495	​	$	474,170	​	$	1,833,665
Energy	​	​	223,181	​	​	2,170,933	​	​	2,394,114
Intersegment eliminations	​	​	(5,385)	​	​	(22,634)	​	​	(28,019)
Total	​	$	1,577,291		$	2,622,469		$	4,199,760

​

​

Revenue by contract type was as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the three months ended September 30, 2024

Segment

Fixed-price

Unit-price

Cost reimbursable (1)

Total

Utilities

​

$

88,167

$

437,493

$

140,580

$

666,240

Energy

​

​

608,899

​

​

179,403

​

​

222,556

​

​

1,010,858

Intersegment eliminations

​

​

(27,748)

​

​

(128)

​

​

(136)

​

​

(28,012)

Total

​

$

669,318

$

616,768

$

363,000

$

1,649,086

(1) Includes time and material and cost reimbursable plus fee contracts.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the nine months ended September 30, 2024

Segment

Fixed-price

Unit-price

Cost reimbursable (1)

Total

Utilities

​

$

268,738

​

$

1,122,898

​

$

383,326

​

$

1,774,962

Energy

​

​

1,751,605

​

​

486,792

​

​

693,531

​

​

2,931,928

Intersegment eliminations

​

​

(79,233)

​

​

(1,893)

​

​

(256)

​

​

(81,382)

Total

​

$

1,941,110

$

1,607,797

$

1,076,601

$

4,625,508

(1) Includes time and material and cost reimbursable plus fee contracts.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the three months ended September 30, 2023

Segment

​

Fixed-price

Unit-price

Cost reimbursable (1)

Total

Utilities

​

$

107,024

$

411,636

$

132,004

$

650,664

Energy

​

​

536,975

​

​

168,237

​

​

182,531

​

​

887,743

Intersegment eliminations

​

​

(1,660)

​

​

(5,444)

​

​

(1,817)

​

​

(8,921)

Total

​

$

642,339

$

574,429

$

312,718

$

1,529,486

(1) Includes time and material and cost reimbursable plus fee contracts.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the nine months ended September 30, 2023

Segment

​

Fixed-price

​

Unit-price

​

Cost reimbursable (1)

​

Total

Utilities

​

$

294,709

​

​

1,146,601

​

$

392,355

​

$

1,833,665

Energy

​

​

1,551,536

​

​

448,456

​

​

394,122

​

​

2,394,114

Intersegment eliminations

​

​

(7,719)

​

​

(17,309)

​

​

(2,991)

​

​

(28,019)

Total

​

$

1,838,526

$

1,577,748

$

783,486

$

4,199,760

(1) Includes time and material and cost reimbursable plus fee contracts.

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- Definition

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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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