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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents ($161,906 and $131,738 related to variable interest entities (“VIEs”)) $ 276,489 $ 455,084
Restricted cash 40,296 9,104
Restricted investments 135,592 139,986
Accounts receivable ($85,435 and $51,953 related to VIEs) 1,298,255 986,893
Retention receivable ($180,920 and $171,704 related to VIEs) 591,623 560,163
Costs and estimated earnings in excess of billings ($142,088 and $95,219 related to VIEs) 947,539 942,522
Other current assets ($21,781 and $24,954 related to VIEs) 199,276 192,915
Total current assets 3,489,070 3,286,667
PROPERTY AND EQUIPMENT (“P&E”), net of accumulated depreciation of $577,797 and $566,308 (net P&E of $15,907 and $19,876 related to VIEs) 440,626 422,988
GOODWILL 205,143 205,143
INTANGIBLE ASSETS, NET 65,509 66,069
DEFERRED INCOME TAXES 133,816 143,289
OTHER ASSETS 120,134 118,554
TOTAL ASSETS 4,454,298 4,242,710
CURRENT LIABILITIES:    
Current maturities of long-term debt 13,842 24,113
Accounts payable ($37,849 and $22,845 related to VIEs) 757,652 631,468
Retention payable ($20,394 and $19,744 related to VIEs) 242,061 240,971
Billings in excess of costs and estimated earnings ($372,307 and $326,561 related to VIEs) 1,375,597 1,216,623
Accrued expenses and other current liabilities ($31,332 and $16,391 related to VIEs) 239,011 219,525
Total current liabilities 2,628,163 2,332,700
LONG-TERM DEBT, less current maturities, net of unamortized discount and debt issuance costs totaling $21,029 and $21,977 391,750 510,025
OTHER LONG-TERM LIABILITIES 246,788 241,379
TOTAL LIABILITIES 3,266,701 3,084,104
COMMITMENTS AND CONTINGENCIES (NOTE 11)
Stockholders' equity:    
Preferred stock - authorized 1,000,000 shares ($1 par value), none issued 0 0
Common stock - authorized 112,500,000 shares ($1 par value), issued and outstanding 52,702,538 and 52,485,719 shares 52,703 52,486
Additional paid-in capital 1,142,299 1,146,800
Accumulated deficit (2,577) (30,575)
Accumulated other comprehensive loss (32,190) (33,988)
Total stockholders' equity 1,160,235 1,134,723
Noncontrolling interests 27,362 23,883
TOTAL EQUITY 1,187,597 1,158,606
TOTAL LIABILITIES AND EQUITY $ 4,454,298 $ 4,242,710