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Contract Assets and Liabilities | 3 Months Ended
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Mar. 31, 2025
Disclosure Text Block [Abstract] |
Contract Assets and Liabilities | 4. Contract Assets and Liabilities Contract assets and liabilities as of March 31, 2025 and December 31, 2024 consisted of the following:
(in thousands) |  | March 31, 2025 |  |  | December 31, 2024 |
Costs and estimated earnings in excess of billings on uncompleted contracts |  | $ | 83,335 |  |  | $ | 69,889 |
Billings in excess of costs and estimated earnings on uncompleted contracts |  |  | 87,870 |  |  |  | 81,501 |
As of the beginning of the prior year period, or January 1, 2024, costs and estimated earnings in excess of billings on uncompleted contracts and billings in excess of costs and estimated earnings on uncompleted contracts were $66.6 million and $56.9 million, respectively. The contract liabilities recorded in “Accrued expenses” on the Condensed Consolidated Balance Sheets were $11.5 million, $9.7 million and $7.9 million as of March 31, 2025, December 31, 2024 and January 1, 2024, respectively. Approximately 30% of the Company's contract liabilities as of December 31, 2024 were recognized as revenue in the three months ended March 31, 2025.

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- Definition The entire disclosure for detailed information about regulatory assets and liabilities, including current and noncurrent assets created when regulatory agencies permit the deferral of costs to the balance sheet that would otherwise be required to appear on the company's income statement and would be charged against current expenses or revenues, as well as current and noncurrent liabilities created when regulatory agencies permit. + References No definition available. + Details
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