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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Loss Before Taxes

Loss before income taxes is summarized as follows:

			Year Ended December 31,
(in thousands)			2024						2023						2022
United States operations			$	(261,147)					$	(232,512)					$	(288,954)
Foreign and U.S. territory operations			88,139						49,958						21,284
Total			$	(173,008)					$	(182,554)					$	(267,670)

Schedule of Provision for Income Taxes

The income tax expense (benefit) is as follows:

			Year Ended December 31,
(in thousands)			2024						2023						2022
Current expense (benefit):
Federal			$	8,832					$	(178)					$	(1,653)
State			3,997						1,888						930
Foreign and U.S. territories			14,510						8,153						5,074
Total current expense:			27,339						9,863						4,351
Deferred expense (benefit):
Federal			(51,758)						(48,634)						(54,526)
State			(24,862)						(17,612)						(25,395)
Foreign and U.S. territories			(1,388)						1,426						472
Total deferred benefit:			(78,008)						(64,820)						(79,449)
Total benefit:			$	(50,669)					$	(54,957)					$	(75,098)

Schedule of Reconciliation of Provision for Income Taxes

The following table is a reconciliation of the Company’s income tax expense (benefit) at the statutory federal tax rate to the Company’s effective tax rate:

			Year Ended December 31,
			2024												2023												2022
(dollars in thousands)			Amount						Rate						Amount						Rate						Amount						Rate
Federal income tax benefit at statutory tax rate			$	(36,332)					21.0		%				$	(38,336)					21.0		%				$	(56,211)					21.0		%
State income taxes, net of federal tax benefit			(16,591)						9.6						(10,556)						5.8						(21,784)						8.1
Share-based compensation			1,122						(0.6)						446						(0.2)						1,227						(0.5)
Officers' compensation			9,825						(5.7)						5,129						(2.8)						2,840						(1.1)
Noncontrolling interests			(9,892)						5.7						(9,795)						5.4						(3,861)						1.4
Federal R&D credits			(750)						0.4						(493)						0.3						128						—
Foreign tax rate differences			(422)						0.2						(297)						0.2						(1,438)						0.5
Valuation allowance			3,968						(2.3)						347						(0.2)						7,991						(3.0)
Other			(1,597)						1.0						(1,402)						0.6						(3,990)						1.7
Income tax benefit			$	(50,669)					29.3		%				$	(54,957)					30.1		%				$	(75,098)					28.1		%

Schedule of Significant Components of Deferred Tax Assets and Liabilities

The following is a summary of the significant components of the deferred tax assets and liabilities:

			As of December 31,
(in thousands)			2024						2023
Deferred tax assets:
Timing of expense recognition			$	90,959					$	72,828
Net operating losses			144,148						113,623
Goodwill			—						80
Joint ventures			12,571						—
Other, net			29,001						16,113
Deferred tax assets			276,679						202,644
Valuation allowance			(14,014)						(9,193)
Net deferred tax assets			262,665						193,451
Deferred tax liabilities:
Goodwill			(3,969)						—
Intangible assets, due primarily to purchase accounting			(16,786)						(17,451)
Fixed assets			(53,382)						(54,953)
Construction contract accounting			(7,212)						(7,711)
Joint ventures			(23,079)						(16,132)
Other			(14,948)						(24,077)
Deferred tax liabilities			(119,376)						(120,324)
Net deferred tax assets			$	143,289					$	73,127

The net deferred tax assets are presented in the Consolidated Balance Sheets as follows:

			As of December 31,
(in thousands)			2024						2023
Deferred tax assets			$	143,289					$	74,083
Deferred tax liabilities			—						(956)
Net deferred tax assets			$	143,289					$	73,127

Schedule of Reconciliation of Gross Unrecognized Tax Benefit

The Company accounts for its uncertain tax positions in accordance with GAAP. The following is a reconciliation of the beginning and ending amounts of these unrecognized tax benefits for the three years ended December 31:

			As of December 31,
(in thousands)			2024						2023						2022
Beginning balance			$	4,773					$	7,525					$	7,539
Change in tax positions of prior years			6,756						438						(416)
Change in tax positions of current year			6,385						(189)						625
Reduction in tax positions for statute expirations			(1,046)						(3,001)						(223)
Ending balance			$	16,868					$	4,773					$	7,525

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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