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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents ($390,374 and $131,738 related to variable interest entities (“VIEs”)) $ 695,732 $ 455,084
Restricted cash 62,352 9,104
Restricted investments 173,435 139,986
Accounts receivable ($167,189 and $51,953 related to VIEs) 1,299,908 986,893
Retention receivable ($211,090 and $171,704 related to VIEs) 661,907 560,163
Costs and estimated earnings in excess of billings ($106,182 and $95,219 related to VIEs) 847,778 942,522
Other current assets ($159,065 and $24,954 related to VIEs) 431,209 192,915
Total current assets 4,172,321 3,286,667
PROPERTY AND EQUIPMENT (“P&E”), net of accumulated depreciation of $567,677 and $566,308 (net P&E of $23,770 and $19,876 related to VIEs) 491,035 422,988
GOODWILL 205,143 205,143
INTANGIBLE ASSETS, NET 64,391 66,069
DEFERRED INCOME TAXES 102,808 143,289
OTHER ASSETS 129,556 118,554
TOTAL ASSETS 5,165,254 4,242,710
CURRENT LIABILITIES:    
Current maturities of long-term debt 20,068 24,113
Accounts payable ($72,177 and $22,845 related to VIEs) 647,050 631,468
Retention payable ($25,171 and $19,744 related to VIEs) 258,856 240,971
Billings in excess of costs and estimated earnings ($595,834 and $326,561 related to VIEs) 1,904,637 1,216,623
Accrued expenses and other current liabilities ($45,343 and $16,391 related to VIEs) 377,731 219,525
Total current liabilities 3,208,342 2,332,700
LONG-TERM DEBT, less current maturities, net of unamortized discount and debt issuance costs totaling $19,032 and $21,977 393,015 510,025
OTHER LONG-TERM LIABILITIES 310,484 241,379
TOTAL LIABILITIES 3,911,841 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 1,147,797 1,146,800
Retained earnings (deficit) 21,028 (30,575)
Accumulated other comprehensive loss (29,938) (33,988)
Total stockholders' equity 1,191,630 1,134,723
Noncontrolling interests 61,783 23,883
TOTAL EQUITY 1,253,413 1,158,606
TOTAL LIABILITIES AND EQUITY $ 5,165,254 $ 4,242,710