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v3.26.1

Unearned Revenue | 3 Months Ended
--- | ---
Mar. 31, 2026
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) | March 31, 2026 |  | December 31, 2025
Public | $ | 4,407,747 |  |  | $ | 3,628,561 |
Private | 523,041 |  |  | 494,552 |
Total | $ | 4,930,788 |  |  | $ | 4,123,113 |
All unearned revenue is in the Construction segment. Approximately $3.8 billion of the March 31, 2026 unearned revenue is expected to be recognized within the next twelve months and the remaining amount will be recognized thereafter.

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