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Business Segment Data (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

Reconciliations of reportable segment operating revenues, inclusive of the Company’s significant segment expenses of Cost of sales and Selling, general and administrative expenses, to consolidated Income before income taxes and income from equity method investments for the Company’s reportable segments and “Corporate and Other” category were as follows:

Year ended December 31, 2025			E&M						T&D						Corporate and Other						Consolidated Total
			(In thousands)
Segment operating revenues			$	2,920,672					$	848,521					$	—					$	3,769,193
Eliminations			(10,017)						(12,789)						—						(22,806)
Total segment operating revenues			2,910,655						835,732						—						3,746,387
Cost of sales			2,585,771						705,827						701						3,292,299
Gross profit			324,884						129,905						(701)						454,088
Selling, general and administrative expenses			106,566						40,199						42,573						189,338
Operating income			$	218,318					$	89,706					$	(43,274)					264,750
Interest income																					4,573
Interest expense																					21,451
Other income, net																					9,939
Total consolidated income before income taxes and income from equity method investments																					$	257,811

Year ended December 31, 2024			E&M						T&D						Corporate and Other						Consolidated Total
			(In thousands)
Segment operating revenues			$	2,031,447					$	837,146					$	—					$	2,868,593
Eliminations			(7,536)						(11,372)						—						(18,908)
Total segment operating revenues			2,023,911						825,774						—						2,849,685
Cost of sales			1,804,095						703,152						2,987						2,510,234
Gross profit			219,816						122,622						(2,987)						339,451
Selling, general and administrative expenses			82,845						37,567						29,132						149,544
Operating income			$	136,971					$	85,055					$	(32,119)					189,907
Interest expense																					14,023
Other income, net																					4,875
Total consolidated income before income taxes and income from equity method investments																					$	180,759

Year ended December 31, 2023			E&M						T&D						Corporate and Other						Consolidated Total
			(In thousands)
Segment operating revenues			$	2,134,867					$	734,577					$	—					$	2,869,444
Eliminations			(9,324)						(5,730)						—						(15,054)
Total segment operating revenues			2,125,543						728,847						—						2,854,390
Cost of sales			1,911,721						620,738						13						2,532,472
Gross profit			213,822						108,109						(13)						321,918
Selling, general and administrative expenses			79,445						34,499						17,431						131,375
Operating income			$	134,377					$	73,610					$	(17,444)					190,543
Interest expense																					16,954
Other income, net																					3,981
Total consolidated income before income taxes and income from equity method investments																					$	177,570

Schedule of Segment Reporting Information by Segment

Additional financial information on the Company’s reportable segments is shown below, which follows the same accounting policies as those described in Note 2 – Basis of Presentation and Summary of Significant Accounting Policies:

Year ended December 31,			2025												2024												2023
			E&M						T&D						E&M						T&D						E&M						T&D
			(In thousands)
Depreciation and amortization expense			$	5,763					$	23,233					$	6,358					$	19,099					$	6,200					$	17,108
Interest expense, net1			(7,263)						3,433						(800)						4,027						4,957						4,490
Income taxes			63,218						22,172						38,609						20,989						33,143						17,399
Capital expenditures2			$	16,984					$	49,608					$	7,944					$	40,355					$	4,853					$	30,736

__________________

1.Amounts shown are included in Interest expense on the consolidated statements of income. Also, the amounts include intercompany transactions related to the Company’s cash management and financing program.

2.Capital expenditures for 2025, 2024 and 2023 include noncash transactions for capital expenditure-related accounts payable.

Reconciliation of Assets from Segments to Consolidated

Reconciliations of reportable segment assets to consolidated assets were as follows as of December 31:

			2025						2024
			(In thousands)
E&M segment assets			$	1,047,626					$	764,470
T&D segment assets			455,875						410,887
Total reportable segment assets			1,503,501						1,175,357
Other assets			267,577						161,016
Eliminations			(42,347)						(47,910)
Total consolidated assets			$	1,728,731					$	1,288,463

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

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Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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