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Revenue Recognition (Tables) | 9 Months Ended
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Sep. 30, 2024
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 September 30, 2024 and 2023 were as follows:
|  | Three months ended September 30, 2024
|  | T&D |  | C&I |  | Total
(dollars in thousands) |  | Amount |  | Percent |  | Amount |  | Percent |  | Amount |  | Percent
Fixed price |  | $ | 197,087 |  |  | 40.9 | % |  | $ | 331,103 |  |  | 81.5 | % |  | $ | 528,190 |  |  | 59.5 | %
Unit price |  | 169,337 |  |  | 35.1 |  |  | 23,849 |  |  | 5.9 |  |  | 193,186 |  |  | 21.7 |
T&E |  | 115,452 |  |  | 24.0 |  |  | 51,215 |  |  | 12.6 |  |  | 166,667 |  |  | 18.8 |
|  | $ | 481,876 |  |  | 100.0 | % |  | $ | 406,167 |  |  | 100.0 | % |  | $ | 888,043 |  |  | 100.0 | %
|  | Three months ended September 30, 2023
|  | T&D |  | C&I |  | Total
(dollars in thousands) |  | Amount |  | Percent |  | Amount |  | Percent |  | Amount |  | Percent
Fixed price |  | $ | 283,440 |  |  | 51.7 | % |  | $ | 319,546 |  |  | 81.7 | % |  | $ | 602,986 |  |  | 64.2 | %
Unit price |  | 143,218 |  |  | 26.1 |  |  | 26,899 |  |  | 6.9 |  |  | 170,117 |  |  | 18.1 |
T&E |  | 121,937 |  |  | 22.2 |  |  | 44,436 |  |  | 11.4 |  |  | 166,373 |  |  | 17.7 |
|  | $ | 548,595 |  |  | 100.0 | % |  | $ | 390,881 |  |  | 100.0 | % |  | $ | 939,476 |  |  | 100.0 | %
The components of the Company’s revenue by contract type for the nine months ended September 30, 2024 and 2023 were as follows:
|  | Nine months ended September 30, 2024
|  | T&D |  | C&I |  | Total
(dollars in thousands) |  | Amount |  | Percent |  | Amount |  | Percent |  | Amount |  | Percent
Fixed price |  | $ | 654,969 |  |  | 45.8 | % |  | $ | 902,582 |  |  | 81.9 | % |  | $ | 1,557,551 |  |  | 61.5 | %
Unit price |  | 443,589 |  |  | 31.0 |  |  | 58,988 |  |  | 5.4 |  |  | 502,577 |  |  | 19.8 |
T&E |  | 331,922 |  |  | 23.2 |  |  | 140,445 |  |  | 12.7 |  |  | 472,367 |  |  | 18.7 |
|  | $ | 1,430,480 |  |  | 100.0 | % |  | $ | 1,102,015 |  |  | 100.0 | % |  | $ | 2,532,495 |  |  | 100.0 | %
|  | Nine months ended September 30, 2023
|  | T&D |  | C&I |  | Total
(dollars in thousands) |  | Amount |  | Percent |  | Amount |  | Percent |  | Amount |  | Percent
Fixed price |  | $ | 774,022 |  |  | 51.7 | % |  | $ | 938,576 |  |  | 82.2 | % |  | $ | 1,712,598 |  |  | 64.9 | %
Unit price |  | 396,855 |  |  | 26.5 |  |  | 68,099 |  |  | 6.0 |  |  | 464,954 |  |  | 17.6 |
T&E |  | 326,778 |  |  | 21.8 |  |  | 135,378 |  |  | 11.8 |  |  | 462,156 |  |  | 17.5 |
|  | $ | 1,497,655 |  |  | 100.0 | % |  | $ | 1,142,053 |  |  | 100.0 | % |  | $ | 2,639,708 |  |  | 100.0 | %
The components of the Company’s revenue by market type for the three months ended September 30, 2024 and 2023 were as follows:
|  | Three months ended September 30, 2024 |  | Three months ended September 30, 2023
(dollars in thousands) |  | Amount |  | Percent |  | Segment |  | Amount |  | Percent |  | Segment
Transmission |  | $ | 276,663 |  |  | 31.2 | % |  | T&D |  | $ | 357,708 |  |  | 38.1 | % |  | T&D
Distribution |  | 205,213 |  |  | 23.1 |  |  | T&D |  | 190,887 |  |  | 20.3 |  |  | T&D
Electrical construction |  | 406,167 |  |  | 45.7 |  |  | C&I |  | 390,881 |  |  | 41.6 |  |  | C&I
Total revenue |  | $ | 888,043 |  |  | 100.0 | % |  |  |  | $ | 939,476 |  |  | 100.0 | % |  |
The components of the Company’s revenue by market type for the nine months ended September 30, 2024 and 2023 were as follows:
|  | Nine months ended September 30, 2024 |  | Nine months ended September 30, 2023
(dollars in thousands) |  | Amount |  | Percent |  | Segment |  | Amount |  | Percent |  | Segment
Transmission |  | $ | 873,077 |  |  | 34.5 | % |  | T&D |  | $ | 978,078 |  |  | 37.0 | % |  | T&D
Distribution |  | 557,403 |  |  | 22.0 |  |  | T&D |  | 519,577 |  |  | 19.7 |  |  | T&D
Electrical construction |  | 1,102,015 |  |  | 43.5 |  |  | C&I |  | 1,142,053 |  |  | 43.3 |  |  | C&I
Total revenue |  | $ | 2,532,495 |  |  | 100.0 | % |  |  |  | $ | 2,639,708 |  |  | 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 September 30, 2024 that the Company expects to be realized and the amount of the remaining performance obligations that the Company reasonably estimates will be recognized within the next twelve months, and the amount estimated to be recognized after the next twelve months.
|  | Remaining Performance Obligations at September 30, 2024
(in thousands) |  | Total |  | Amount estimated to be recognized within 12 months |  | Amount estimated to be recognized after 12 months
T&D |  | $ | 582,030 |  |  | $ | 576,179 |  |  | $ | 5,851 |
C&I |  | 1,776,724 |  |  | 1,263,534 |  |  | 513,190 |
Total |  | $ | 2,358,754 |  |  | $ | 1,839,713 |  |  | $ | 519,041 |

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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(1) -SubTopic 10 -Topic 606 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 + Details
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