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Union-Sponsored Pension Plans and Other Employee Benefit Plans
 12 Months Ended
Dec. 31, 2025
Postemployment Benefits [Abstract]  
Union-Sponsored Pension Plans and Other Employee Benefit Plans Union-Sponsored Pension Plans and Other Employee Benefit Plans
Defined Pension Plans: Certain of the Company’s consolidated subsidiaries participate in various multiemployer defined benefit pension plans under the terms of collective bargaining agreements covering most of its union-represented employees. The risks of participation in these multiemployer plans are different than single-employer plans in the following aspects:
a.Assets contributed to the plan by a company may be used to provide benefits to participants of other companies;
b.If a participating company discontinues contributions to a plan, other participating employers may have to cover any unfunded liability that may exist; and
c.If a company stops participating in some of its multiemployer pension plans, the company may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability.
The following table lists multiemployer pension plans providing pension benefits, including total contributions made for the years ended December 31, 2025, 2024 and 2023 (contributions in thousands). Among other factors, plans in the red zone are less than 65 percent funded, plans in the yellow zone are between 65 percent and 80 percent funded and plans in the green zone are at least 80 percent funded.
Employee ID /
Pension Plan Number
PPA Zone Status (1)
FIP/RP Status (3)
ContributionsSurcharge ImposedExpiration dates of CBA
Pension Fund
2025 (2)
2024 (2)
202520242023
Sheet Metal Workers Pension Plan of Southern CA, AZ & NV95-6052257 / 001GreenGreenNA$4,115 $4,828 $2,567 No6/30/2026 to 6/30/2029
Arizona Pipe Trades Trust Fund86-6025734 / 001GreenGreenNA8,951 10,674 5,667 No6/30/2027
Electrical Workers Local 26 Pension Trust Fund52-6117919 / 001GreenGreenNA7,243 6,702 3,411 No5/31/2027
U.A. Local No. 393 Pension Plan94-6359772 / 001GreenGreenNA12,079 8,903 9,443 No6/30/2027
U.A. Local No. 467 Defined Benefit Plan94-2353807 / 001GreenGreenNA2,021 2,302 2,900 No6/30/2027
Northern CA Pipe Trades Pension Plan94-3190386 / 001GreenGreenNA2,895 2,895 2,830 No6/30/2027
Pipe Trades Services of MN Pension Plan41-6131800 / 001GreenGreenNA5,434 2,805 2,821 No4/30/2027 to 4/30/2028
Sheet Metal Workers Pension Plan of Northern CA51-6115939 / 001RedRedImplemented10,694 9,603 10,725 No6/28/2026
Southern CA Pipe Trades Retirement Fund51-6108443 / 001GreenGreenNA5,279 4,855 2,203 No8/31/2026
National Electrical Benefit Fund53-0181657 / 001GreenGreenNA3,000 2,523 2,173 No5/23/2026 to 5/31/2027
Sheet Metal Workers National Pension Fund52-6112463 / 001GreenGreenNA5,072 4,570 3,691 No6/28/2026 to 6/30/2029
United Association National Pension Fund52-6152779 / 001GreenGreenNA3,606 2,963 2,297 No8/31/2026 to 12/31/2030
All Other Plans5,214 3,616 4,066 
$75,603 $67,239 $54,794 
(1)Pension Protection Act of 2006 Status ("PPA").
(2)PPA Zone Status represents the most recent available information for the respective Pension Fund, which may be from 2024 or earlier for the 2025 year and from 2023 or earlier for the 2024 year.
(3)Funding Improvement Plan ("FIP") or Rehabilitation Plan ("RP") implemented.
The Company’s contributions to the following plans were five percent or more of the total contributions for the periods indicated based on the Forms 5500 for these plans for the years ended December 31, 2024 and 2023. Forms 5500 were not yet available for the year ended December 31, 2025.
Pension FundContributions to the plan exceeded more than 5% of total contributions (as of the plan's year-end)
Pipe Trades Services MN Pension Fund2024
Sheet Metal Workers Pension Plan of Northern CA2024 and 2023
Electrical Workers Local No. 26 Pension Trust Fund2024
Arizona Pipe Trades Pension Plan2024 and 2023
U.A. Local No. 467 Defined Benefit Plan2024 and 2023
Northern CA Pipe Trades Pension Plan2024
U.A. Local No. 393 Defined Benefit Pension Plan2024 and 2023
Pension contributions for the year ended December 31, 2025 include immaterial amounts related to the IMD acquisition. There were no pension contributions for the year ended December 31, 2024 related to the businesses acquired during 2024.
Pension contributions for the year ended December 31, 2023 include $4.6 million related to businesses acquired during 2023, primarily A.O. Reed. In the event of the termination of a multiemployer plan or a withdrawal from a multiemployer pension plan, the Company could incur material liabilities under applicable law.
Union Benefits: Additionally, the Company is required to make contributions to various unions for health, welfare, retirement and other benefits on behalf of employees covered by collective bargaining agreements. Contributions were $139.7 million, $103.9 million and $110.9 million for the years ended December 31, 2025, 2024 and 2023, respectively. Union benefit contributions for the year ended December 31, 2025 include immaterial amounts related to the IMD acquisition. There were no union benefit contributions for the year ended December 31, 2024 related to businesses acquired during 2024. Union benefit contributions for the year ended December 31, 2023 include $7.4 million related to businesses acquired during 2023, primarily A.O. Reed.
Total pension and union benefit contributions correspond to the number of union employees employed, and the amount may vary depending on the number and location of ongoing projects at a given time and the need for union resources related to those projects.
Defined Contribution Plans: The Company also offers a 401(k) defined contribution plan covering all employees meeting specified eligibility requirements who are not subject to a collective bargaining agreement. While the plan also allows for profit sharing, the Company has not used that feature. Employees can defer certain components of compensation, up to statutory limits, and the Company matches up to 4% of employees' compensation. The Company may make additional discretionary contributions. Contributions to the plans for non-union employees were $11.8 million, $9.6 million and $7.3 million for the years ended December 31, 2025, 2024 and 2023, respectively.