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Contracts in Progress | 12 Months Ended
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Dec. 31, 2025
Revenue from Contract with Customer [Abstract] |
Contracts in Progress | Contracts in Progress Costs and billings on uncompleted construction-type contracts consist of the following (in millions):
| December 31, 2025 |  | December 31, 2024
Costs incurred on contracts (from inception to completion) | $ | 466.9 |  |  | $ | 409.3 |
Estimated earnings | 282.4 |  |  | 253.1 |
Contracts in progress | 749.3 |  |  | 662.4 |
Less: billings to date | (680.2) |  |  | (607.0) |
| $ | 69.1 |  |  | $ | 55.4 |
The balances reflected in the table above include the open projects acquired in the Paragon purchase; refer to Note 2, Business Combinations, Acquisitions, and Business Disposals, for additional information regarding the Paragon purchase. The carrying amounts related to uncompleted construction-type contracts are included in the accompanying consolidated balance sheets under the following captions (in millions):
| December 31, 2025 |  | December 31, 2024
Costs and estimated earnings in excess of billings on uncompleted contracts – current | $ | 93.8 |  |  | $ | 67.0 |
Costs and estimated earnings in excess of billings on uncompleted contracts – non-current (1) | 21.5 |  |  | 20.2 |
Billings in excess of costs and estimated earnings on uncompleted contracts – current (2) | (43.7) |  |  | (31.0) |
Billings in excess of costs and estimated earnings on uncompleted contracts – non-current (3) | (2.5) |  |  | (0.8) |
| $ | 69.1 |  |  | $ | 55.4 |
(1)Included in other assets within the consolidated balance sheets. (2)Included in deferred contract revenue – current within the consolidated balance sheets. (3)Included in other liabilities within the consolidated balance sheets. The increase in the net carrying amount at December 31, 2025 as compared to December 31, 2024 was primarily due to the acquisition of Paragon, impact of foreign exchange rates on contract balances, and timing of milestone billing. For the year ended December 31, 2025, the Company has recognized revenue of $25.5 million and reached a settlement of €4.4 million (see Note 11, Commitments and Contingencies) related to the contract liabilities balance as of December 31, 2024.

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