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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents ($198,873 and $131,738 related to variable interest entities (“VIEs”)) $ 526,090 $ 455,084
Restricted cash 20,990 9,104
Restricted investments 157,373 139,986
Accounts receivable ($189,220 and $51,953 related to VIEs) 1,337,652 986,893
Retention receivable ($198,276 and $171,704 related to VIEs) 629,735 560,163
Costs and estimated earnings in excess of billings ($117,234 and $95,219 related to VIEs) 856,379 942,522
Other current assets ($95,196 and $24,954 related to VIEs) 370,003 192,915
Total current assets 3,898,222 3,286,667
PROPERTY AND EQUIPMENT (“P&E”), net of accumulated depreciation of $559,970 and $566,308 (net P&E of $16,250 and $19,876 related to VIEs) 454,554 422,988
GOODWILL 205,143 205,143
INTANGIBLE ASSETS, NET 64,950 66,069
DEFERRED INCOME TAXES 117,173 143,289
OTHER ASSETS 130,035 118,554
TOTAL ASSETS 4,870,077 4,242,710
CURRENT LIABILITIES:    
Current maturities of long-term debt 26,120 24,113
Accounts payable ($60,841 and $22,845 related to VIEs) 716,428 631,468
Retention payable ($23,766 and $19,744 related to VIEs) 254,077 240,971
Billings in excess of costs and estimated earnings ($465,721 and $326,561 related to VIEs) 1,684,397 1,216,623
Accrued expenses and other current liabilities ($25,994 and $16,391 related to VIEs) 274,908 219,525
Total current liabilities 2,955,930 2,332,700
LONG-TERM DEBT, less current maturities, net of unamortized discount and debt issuance costs totaling $20,047 and $21,977 393,298 510,025
OTHER LONG-TERM LIABILITIES 281,030 241,379
TOTAL LIABILITIES 3,630,258 3,084,104
COMMITMENTS AND CONTINGENCIES (NOTE 12)
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 52,743,248 and 52,485,719 shares 52,743 52,486
Additional paid-in capital 1,145,283 1,146,800
Retained earnings (deficit) 17,397 (30,575)
Accumulated other comprehensive loss (30,244) (33,988)
Total stockholders' equity 1,185,179 1,134,723
Noncontrolling interests 54,640 23,883
TOTAL EQUITY 1,239,819 1,158,606
TOTAL LIABILITIES AND EQUITY $ 4,870,077 $ 4,242,710