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Employee Benefit Plans | 12 Months Ended
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Dec. 31, 2023
Retirement Benefits [Abstract] |
Employee Benefit Plans | Employee Benefit Plans The Company sponsors multiple defined contribution plans for eligible employees not covered by collective bargaining agreements. The plans include various features such as voluntary employee pre-tax and Roth-based contributions and matching contributions made by the Company. In addition, at the discretion of our Board of Directors, we may make additional profit sharing contributions to the plans. Company contributions under these defined contribution plans are based upon a percentage of income with limitations as defined by each plan. Total contributions for the years ended December 31, 2023, 2022 and 2021 amounted to $15.9 million, $15.7 million, and $17.8 million, respectively. The Company contributes to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees, who are represented by more than 300 local unions. The related collective-bargaining agreements between those organizations and the Company, which specify the rate at which the Company must contribute to the multi-employer defined pension plan, expire at different times between 2024 and 2026. The risks of participating in these multiemployer defined benefit pension plans are different from single-employer plans in the following aspects: 1)Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers. 2)If a participating employer stops contributing to a plan, the unfunded obligations of the plan may be borne by the remaining participating employers. 3)If the Company chooses to stop participating in a multiemployer plan, it may be required to pay the plan an amount based on the underfunded status of the plan, referred to as a withdrawal liability. The amount of additional funds, if any, that the Company may be obligated to contribute to these plans in the future cannot be estimated due to uncertainty of the future levels of work that require the specific use of union employees covered by these plans, as well as the future contribution levels and possible surcharges on contributions applicable to these plans. The following table summarizes plan information relating to the Company’s participation in multi-employer defined benefit pension plans, including company contributions for the last three years, the status under the Pension Protection Act of 2006, as amended by the Consolidated and Further Continuing Appropriations Act of 2015 (“PPA”) of the plans and whether the plans are subject to a funding improvement or rehabilitation plan, or contribution surcharges. The most recent zone status is for the plan’s year-end indicated in the table. The zone status is based on information that the Company received from the plan, as well as from publicly available information on the U.S. Department of Labor website. The PPA zone status for the plan year ended on December 31, 2023 has not been listed because Forms 5500 were not yet available. Among other factors, plans in the red “critical” zone are generally less than 65 percent funded, plans in the yellow “endangered” zone are between 65 and 80 percent funded, and plans in the green zone are at least 80 percent funded. Also listed in the table below are the Company’s contributions to defined contribution plans. Information in the table has been presented separately for individually significant plans and in the aggregate for all other plans.
Pension Fund |  | EIN/Pension Plan Number |  | Pension Protection Act Zone Status |  | Contributions to Plan for the Year ended December 31, |  | Funding Plan |  | Surcharge Imposed
|  |  |  | Status |  | Plan Year End |  | Status |  | Plan Year End |  | 2023 |  | 2022 |  | 2021 |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  | (in thousands) |  |  |  |
Defined Benefit Plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Southern California IBEW-NECA Pension Trust Fund |  | 95-6392774 001 |  | Yellow |  | 6/30/2022 |  | Yellow |  | 6/30/2021 |  | $ | 51,136 |  |  | $ | 40,810 |  |  | $ | 39,529 |  |  | Yes |  | No
Eighth District Electrical Pension Fund |  | 84-6100393 001 |  | Green |  | 3/31/2023 |  | Green |  | 3/31/2022 |  | 15,158 |  |  | 15,097 |  |  | 12,007 |  |  | No |  | No
National Electrical Benefit Fund |  | 53-0181657 001 |  | Green |  | 12/31/2022 |  | Green |  | 12/31/2021 |  | 14,598 |  |  | 13,804 |  |  | 11,627 |  |  | No |  | No
IBEW Local 332 Pension Plan Part A |  | 94-2688032 004 |  | Green |  | 12/31/2022 |  | Green |  | 12/31/2021 |  | 4,292 |  |  | 5,723 |  |  | 6,409 |  |  | No |  | No
IBEW Local 769 Management Pension Plan A |  | 86-6049763 001 |  | Green |  | 6/30/2022 |  | Green |  | 6/30/2021 |  | 5,222 |  |  | 5,061 |  |  | 3,446 |  |  | No |  | No
IBEW Local Union 1249 Pension Fund |  | 15-6035161 001 |  | Green |  | 12/31/2022 |  | Green |  | 12/31/2021 |  | 5,706 |  |  | 3,791 |  |  | 3,684 |  |  | No |  | No
Laborers Local Union 158 Pension Fund |  | 23-6580323 001 |  | Green |  | 12/31/2022 |  | Green |  | 12/31/2021 |  | 3,246 |  |  | 256 |  |  | 37 |  |  | No |  | No
Defined Contribution Plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
National Electrical Annuity Plan |  | 52-6132372 001 |  |  |  | n/a |  |  |  | n/a |  | 30,758 |  |  | 36,982 |  |  | 27,974 |  |  | n/a |  | n/a
Eighth District Electrical Pension Fund Annuity Plan |  | 84-6100393 002 |  |  |  | n/a |  |  |  | n/a |  | 3,624 |  |  | 3,347 |  |  | 5,097 |  |  | n/a |  | n/a
San Mateo Country Electrical Construction Industry Retirement Plan |  | 51-6052127 001 |  |  |  | n/a |  |  |  | n/a |  | 4,752 |  |  | 2,953 |  |  | 5,976 |  |  | n/a |  | n/a
All other plans: |  |  |  |  |  |  |  |  |  |  |  | 40,716 |  |  | 28,014 |  |  | 30,094 |  |  |  |  |
Total contributions: |  |  |  |  |  |  |  |  |  |  |  | $ | 179,208 |  |  | $ | 155,838 |  |  | $ | 145,880 |  |  |  |  |
Total contributions to these plans, at any given time, correspond to the number of union employees employed and the plans in which they participate, which varies depending upon location, the number of ongoing projects and the need for union resources in connection with such projects at a given time. The PPA data presented in the table above represents data available to us for the two most recent plan years. One of the Company’s subsidiaries was listed in the Eighth District Electrical Pension Fund’s Form 5500 as providing more than five percent of the total contributions to that plan or was one of the top-ten highest contributors to that plan, for the plan years ended March 31, 2023, 2022 and 2021, in the National Electrical Benefit Fund’s Form 5500 as providing more than five percent of the total contributions to that plan or was one of the top-ten highest contributors to that plan, for the plan years ended December 31, 2022, and in the IBEW local 769 Management Pension Plan A’s Form 5500 as providing more than five percent of the total contributions to that plan or was one of the top-ten highest contributors to that plan, for the plan years ended June 30, 2022, 2021 and 2020. Another of the company’s subsidiaries was listed in the Southern California IBEW-NECA Pension Trust Fund Plan’s Form 5500 as providing more than five percent of the total contributions to that plan or was one of the top-ten highest contributors to that plan, for the plan year ended June 30, 2022, 2021 and 2020, and in the IBEW Local 332 Pension Plan Part A’s Form 5500 as providing more than five percent of the total contributions to that plan or was one of the top-ten highest contributors to that plan, for the plan years ended December 31, 2022.

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