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Reportable Segment Information | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Reportable Segment Information | Reportable Segment Information We manage our operations under two reportable segments, Construction and Materials, which are distinguished by differences in business activities. Our reportable segments are the same as our operating segments and correspond with how our chief operating decision maker, or decision-making group (our “CODM”) regularly reviews financial information to allocate resources and assess performance. We identified our CODM as our Chief Executive Officer and our Chief Operating Officer. Our CODM evaluates segment performance and makes business decisions based on operating income, which excludes non-operating income or expense. Segment assets include property and equipment, intangibles, goodwill, inventory and equity in construction joint ventures. Summarized segment information is as follows (in thousands):
Three Months Ended March 31, | Construction |  | Materials |  | Total
2025 |  |  |  |  |
Total revenue from reportable segments | $ | 614,618 |  | $ | 105,580 |  | $ | 720,198
Elimination of intersegment revenue | — |  | (20,651) |  | (20,651)
Revenue | 614,618 |  | 84,929 |  | 699,547
Cost of revenue | 529,180 |  | 86,518 |  | 615,698
Gross profit (loss) | 85,438 |  | (1,589) |  | 83,849
Selling, general and administrative expenses | 62,327 |  | 8,545 |  | 70,872
Gain on sales of property and equipment, net | (1,849) |  | (69) |  | (1,918)
Operating income (loss) from reportable segments | $ | 24,960 |  | $ | (10,065) |  | $ | 14,895
Depreciation, depletion and amortization | $ | 14,452 |  | $ | 13,555 |  | $ | 28,007
Segment assets as of period end | $ | 613,882 |  | $ | 698,718 |  | $ | 1,312,600
2024 |  |  |  |  |
Total revenue from reportable segments | $ | 595,213 |  | $ | 88,704 |  | $ | 683,917
Elimination of intersegment revenue | — |  | (11,642) |  | (11,642)
Revenue | 595,213 |  | 77,062 |  | 672,275
Cost of revenue | 538,385 |  | 79,605 |  | 617,990
Gross profit (loss) | 56,828 |  | (2,543) |  | 54,285
Selling, general and administrative expenses | 48,824 |  | 5,142 |  | 53,966
Gain on sales of property and equipment, net | (1,222) |  | (528) |  | (1,750)
Operating income (loss) from reportable segments | $ | 9,226 |  | $ | (7,157) |  | $ | 2,069
Depreciation, depletion and amortization | $ | 13,703 |  | $ | 10,477 |  | $ | 24,180
Segment assets as of period end | $ | 594,437 |  | $ | 562,581 |  | $ | 1,157,018
A reconciliation of operating income from reportable segments to consolidated loss before income taxes is as follows:
| Three Months Ended March 31, |  |
(in thousands) | 2025 |  | 2024 |  |  |  |
Total operating income from reportable segments | $ | 14,895 |  |  | $ | 2,069 |  |  |  |  |
Corporate selling, general and administrative expenses | 45,039 |  |  | 34,027 |  |  |  |  |
Corporate loss on sales of property and equipment, net | 181 |  |  | 332 |  |  |  |  |
Other costs, net | 9,426 |  |  | 11,010 |  |  |  |  |
Total operating loss | (39,751) |  |  | (43,300) |  |  |  |  |
Total other (income) expense, net | 332 |  |  | (4,332) |  |  |  |  |
Loss before income taxes | $ | (40,083) |  |  | $ | (38,968) |  |  |  |  |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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