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Receivables, net | 6 Months Ended
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Jun. 30, 2025
Receivables [Abstract] |
Receivables, net | Receivables, net Receivables include billed and unbilled amounts for services provided to clients for which we have an unconditional right to payment as of the end of the applicable period and generally do not bear interest. The following table presents major categories of receivables:
(in thousands) | June 30, 2025 |  | December 31, 2024
Contracts completed and in progress: |  |  |
Billed | $ | 290,058 |  |  | $ | 250,656 |
Unbilled | 218,096 |  |  | 127,776 |
Total contracts completed and in progress | 508,154 |  |  | 378,432 |
Materials sales | 109,836 |  |  | 55,770 |
Other | 87,711 |  |  | 78,309 |
Total gross receivables | 705,701 |  |  | 512,511 |
Less: allowance for credit losses | 713 |  |  | 769 |
Total net receivables | $ | 704,988 |  |  | $ | 511,742 |
Included in other receivables at June 30, 2025 and December 31, 2024 were items such as estimated recovery from back charge claims, notes receivable and income and other tax refunds receivable. Other receivables at June 30, 2025 and December 31, 2024 also included $25.0 million of working capital contributions in the form of a loan to a partner in one of our unconsolidated construction joint ventures, plus accrued interest. None of our customers had a receivable balance in excess of 10% of our total net receivables as of June 30, 2025 or December 31, 2024.

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