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Unearned Revenue | 12 Months Ended
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Dec. 31, 2024
Financial Guarantee Insurance Contracts, Unearned Premium Revenue, Fiscal Year Maturity [Abstract] |
Unearned Revenue | 5. Unearned Revenue The following table presents our unearned revenue as of the respective periods:
(in thousands) | December 31, 2024 |  | December 31, 2023
Public | $ | 2,801,273 |  |  | $ | 2,892,255 |
Private | 783,105 |  |  | 704,421 |
Total | $ | 3,584,378 |  |  | $ | 3,596,676 |
All unearned revenue is in the Construction segment. Approximately $2.6 billion of the December 31, 2024 unearned revenue is expected to be recognized within the next twelve months and the remaining amount will be recognized thereafter.

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