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Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of segment's internal financial reports

The information in the following tables are derived from the segment’s internal financial reports used for corporate management purposes:


	For the Year ended December 31, 2024
(in thousands)	T&D		C&I		General Corporate		Consolidated
Contract revenues	$	1,880,501	$	1,481,789	$	—	$	3,362,290
Operating costs (1)	1,811,127		1,433,748		63,333		3,308,208
Income from operations	69,374		48,041		(63,333)		54,082
Other income (expense):
Interest income							415
Interest expense							(6,525)
Other income (expense), net							(1,479)
Income before provision for income taxes							46,493
Income tax expense							16,230
Net income							$	30,263


	For the Year ended December 31, 2023
(in thousands)	T&D		C&I		General Corporate		Consolidated
Contract revenues	$	2,089,196	$	1,554,709	$	—	$	3,643,905
Operating costs (1)	1,939,493		1,508,820		66,499		3,514,812
Income from operations	149,703		45,889		(66,499)		129,093
Other income (expense):
Interest income							888
Interest expense							(4,939)
Other income (expense), net							(38)
Income before provision for income taxes							125,004
Income tax expense							34,014
Net income							$	90,990


	For the Year ended December 31, 2022
(in thousands)	T&D		C&I		General Corporate		Consolidated
Contract revenues	$	1,745,792	$	1,262,750	$	—	$	3,008,542
Operating costs (1)	1,606,906		1,219,591		67,138		2,893,635
Income from operations	138,886		43,159		(67,138)		114,907
Other income (expense):
Interest income							187
Interest expense							(3,563)
Other income (expense), net							2,673
Income before provision for income taxes							114,204
Income tax expense							30,823
Net income							$	83,381

(1) Operating costs include T&D, C&I and general corporate portion of contract costs, selling, general and administrative expenses, amortization of intangible assets and gain on sale of property and equipment. The expenses found in these other segment items are generally viewed as operating costs by the CODM and are not considered individually significant segment reporting items.

Schedule of assets allocation by segment

Identifiable assets, consisting of contract receivables, contract assets, construction materials inventory, goodwill and intangibles for each segment are as follows as of December 31:


(in thousands)	2024		2023
T&D	$	601,546	$	632,788
C&I	539,687		502,451
General Corporate	432,826		443,507
	$	1,574,059	$	1,578,746

Schedule of depreciation and amortization by segment

An allocation of total depreciation, including depreciation of shared construction equipment, and amortization to each segment is as follows:


	For the Year ended December 31,
(in thousands)	2024		2023		2022
Depreciation and amortization
T&D	$	56,624	$	51,470	$	50,825
C&I	8,565		7,668		7,345
	$	65,189	$	59,138	$	58,170