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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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Represents information related to unearned revenue from unsatisfied performance obligations.

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No definition available.

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No definition available.

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