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Contract Assets and Liabilities (Tables) | 9 Months Ended
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Sep. 30, 2024
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract] |
Schedule of Contract Assets and Liabilities | Contract assets include amounts due under retention provisions, costs and estimated earnings in excess of billings and capitalized contract costs. The amounts as included on the Condensed Consolidated Balance Sheets consisted of the following:
(in thousands) |  | As of September 30, 2024 |  | As of December 31, 2023
Retention receivable |  | $ | 549,736 |  |  | $ | 580,926 |
Costs and estimated earnings in excess of billings: |  |  |  |
Claims |  | 411,026 |  |  | 562,646 |
Unapproved change orders |  | 461,825 |  |  | 512,831 |
Other unbilled costs and profits |  | 93,400 |  |  | 68,369 |
Total costs and estimated earnings in excess of billings |  | 966,251 |  |  | 1,143,846 |
Capitalized contract costs |  | 93,118 |  |  | 117,913 |
Total contract assets |  | $ | 1,609,105 |  |  | $ | 1,842,685 |
Contract liabilities include amounts owed under retention provisions and billings in excess of costs and estimated earnings. The amount as reported on the Condensed Consolidated Balance Sheets consisted of the following:
(in thousands) |  | As of September 30, 2024 |  | As of December 31, 2023
Retention payable |  | $ | 226,033 |  |  | $ | 223,138 |
Billings in excess of costs and estimated earnings |  | 1,052,007 |  |  | 1,103,530 |
Total contract liabilities |  | $ | 1,278,040 |  |  | $ | 1,326,668 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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