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v3.25.2

Unearned Revenue | 6 Months Ended
--- | ---
Jun. 30, 2025
Revenue Recognition and Deferred Revenue [Abstract] |
Unearned Revenue | Unearned Revenue The following table presents our unearned revenue disaggregated by customer type as of the respective periods:
(in thousands) | June 30, 2025 |  | December 31, 2024
Public | $ | 3,455,602 |  |  | $ | 2,801,273 |
Private | 657,951 |  |  | 783,105 |
Total | $ | 4,113,553 |  |  | $ | 3,584,378 |
All unearned revenue is in the Construction segment. Approximately $3.0 billion of the June 30, 2025 unearned revenue is expected to be recognized within the next twelve months and the remaining amount will be recognized thereafter.

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