XML 37 R24.htm IDEA: XBRL DOCUMENT

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of revenue by contract and market type

The components of the Company’s revenue by contract type for the three months ended June 30, 2023 and 2022 were as follows:


	Three months ended June 30, 2023
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	261,348	51.9	%	$	313,409	81.4	%	$	574,757	64.7	%
Unit price	139,929		27.8		23,558		6.1		163,487		18.4
T&E	102,460		20.3		47,912		12.5		150,372		16.9

	$	503,737	100.0	%	$	384,879	100.0	%	$	888,616	100.0	%


	Three months ended June 30, 2022
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	192,934	46.5	%	$	243,682	83.2	%	$	436,616	61.7	%
Unit price	117,609		28.3		17,932		6.1		135,541		19.1
T&E	104,692		25.2		31,265		10.7		135,957		19.2

	$	415,235	100.0	%	$	292,879	100.0	%	$	708,114	100.0	%

The components of the Company’s revenue by contract type for the six months ended June 30, 2023 and 2022 were as follows:


	Six months ended June 30, 2023
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	490,582	51.7	%	$	619,030	82.4	%	$	1,109,612	65.3	%
Unit price	253,637		26.7		41,200		5.5		294,837		17.3
T&E	204,841		21.6		90,942		12.1		295,783		17.4

	$	949,060	100.0	%	$	751,172	100.0	%	$	1,700,232	100.0	%


	Six months ended June 30, 2022
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	343,838	44.1	%	$	462,259	81.9	%	$	806,097	59.9	%
Unit price	221,930		28.4		32,735		5.8		254,665		19.0
T&E	214,323		27.5		69,653		12.3		283,976		21.1

	$	780,091	100.0	%	$	564,647	100.0	%	$	1,344,738	100.0	%

The components of the Company’s revenue by market type for the three months ended June 30, 2023 and 2022 were as follows:


	Three months ended June 30, 2023					Three months ended June 30, 2022
(dollars in thousands)	Amount		Percent		Segment	Amount		Percent		Segment
Transmission	$	322,272	36.3	%	T&D	$	250,078	35.3	%	T&D
Distribution	181,465		20.4		T&D	165,157		23.3		T&D
Electrical construction	384,879		43.3		C&I	292,879		41.4		C&I
Total revenue	$	888,616	100.0	%		$	708,114	100.0	%

The components of the Company’s revenue by market type for the six months ended June 30, 2023 and 2022 were as follows:


	Six months ended June 30, 2023					Six months ended June 30, 2022
(dollars in thousands)	Amount		Percent		Segment	Amount		Percent		Segment
Transmission	$	620,370	36.5	%	T&D	$	471,685	35.1	%	T&D
Distribution	328,690		19.3		T&D	308,406		22.9		T&D
Electrical construction	751,172		44.2		C&I	564,647		42.0		C&I
Total revenue	$	1,700,232	100.0	%		$	1,344,738	100.0	%

Schedule of amount of the remaining performance obligations that the company reasonably estimates will not be recognized within the next twelve months

The following table summarizes the amount of remaining performance obligations as of June 30, 2023 that the Company expects to be realized and the amount of the remaining performance obligations that the Company reasonably estimates will not be recognized within the next twelve months.


	Remaining Performance Obligations at June 30, 2023
(in thousands)	Total		Amount estimated to not be recognized within 12 months		Total at December 31, 2022
T&D	$	1,004,670	$	81,156	$	898,617
C&I	1,537,060		387,745		1,428,257
Total	$	2,541,730	$	468,901	$	2,326,874