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Revenue and Contracts in Process (Tables) | 3 Months Ended
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Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Reconciliation of Revenue from Segments to Consolidated | Revenue from contracts with customers consists of the following (in millions):
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2024 |  | 2023
Infrastructure |  |  |  |  |  | $ | 307.9 |  |  | $ | 311.7 |
Life Sciences |  |  |  |  |  | 1.0 |  |  | 0.5 |
Spectrum |  |  |  |  |  | 6.3 |  |  | 5.7 |
Total revenue |  |  |  |  |  | $ | 315.2 |  |  | $ | 317.9 |
Schedule of Accounts Receivable, net | Accounts receivables, net, from contracts with customers consist of the following (in millions):
|  | March 31, 2024 |  | December 31, 2023
Infrastructure |  | $ | 262.6 |  |  | $ | 271.5 |
Life Sciences |  | 0.5 |  |  | 0.3 |
Spectrum |  | 1.6 |  |  | 1.4 |
Total accounts receivables with customers |  | $ | 264.7 |  |  | $ | 273.2 |
Accounts receivable, net, consisted of the following (in millions):
|  | March 31, 2024 |  | December 31, 2023
Contracts in progress |  | $ | 262.7 |  |  | $ | 271.7 |
Unbilled retentions |  | 0.1 |  |  | — |
Trade receivables |  | 2.0 |  |  | 1.9 |
Other receivables |  | 4.6 |  |  | 5.2 |
Allowance for expected credit losses (1) |  | (0.1) |  |  | (0.4) |
Total |  | $ | 269.3 |  |  | $ | 278.4 |
(1) There was no change to the allowance for expected credit losses as a result of the adoption of ASU 2016-13 on January 1, 2023.
Schedule of Disaggregation of Revenue | The following table disaggregates DBMG's revenue by market (in millions):
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2024 |  | 2023
Transportation |  |  |  |  |  | $ | 100.4 |  |  | $ | 41.5 |
Industrial |  |  |  |  |  | 84.1 |  |  | 91.3 |
Commercial |  |  |  |  |  | 77.3 |  |  | 112.5 |
Healthcare |  |  |  |  |  | 34.3 |  |  | 31.4 |
Convention |  |  |  |  |  | 5.5 |  |  | 25.4 |
Government |  |  |  |  |  | 2.7 |  |  | 3.7 |
Energy |  |  |  |  |  | 2.2 |  |  | 2.7 |
Leisure |  |  |  |  |  | 1.0 |  |  | 3.2 |
Total revenue from contracts with customers |  |  |  |  |  | $ | 307.5 |  |  | $ | 311.7 |
Other revenue |  |  |  |  |  | 0.4 |  |  | — |
Total Infrastructure segment revenue |  |  |  |  |  | $ | 307.9 |  |  | $ | 311.7 |
The following table disaggregates the Life Sciences segment's revenue by type (in millions):
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2024 |  | 2023
Systems and consumables revenue |  |  |  |  |  | $ | 1.0 |  |  | $ | 0.5 |
Total Life Sciences segment revenue |  |  |  |  |  | $ | 1.0 |  |  | $ | 0.5 |
The following table disaggregates the Spectrum segment's revenue by type (in millions):
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2024 |  | 2023
Broadcast station |  |  |  |  |  | $ | 6.3 |  |  | $ | 5.2 |
Other |  |  |  |  |  | — |  |  | 0.5 |
Total Spectrum segment revenue |  |  |  |  |  | $ | 6.3 |  |  | $ | 5.7 |
Schedule of Costs and Recognized Earnings in Excess of Billings and Billings in Excess of Costs and Recognized Earnings on Uncompleted Contracts | Contract assets and contract liabilities and recognized earnings consisted of the following (in millions):
|  | March 31, 2024 |  | December 31, 2023
Costs incurred on contracts in progress |  | $ | 2,979.0 |  |  | $ | 2,811.8 |
Estimated earnings |  | 548.2 |  |  | 510.1
Contract revenue earned on uncompleted contracts |  | 3,527.2 |  |  | 3,321.9 |
Less: progress billings |  | 3,570.4 |  |  | 3,356.8 |
|  | $ | (43.2) |  |  | $ | (34.9) |
The above is included in the accompanying Condensed Consolidated Balance Sheets under the following line items:
Contract assets |  | $ | 82.2 |  |  | $ | 118.6 |
Contract liabilities |  | (125.4) |  |  | (153.5) |
|  | $ | (43.2) |  |  | $ | (34.9) |
Schedule of Contract with Customer, Asset and Liability |
|  | March 31, 2024 |  | December 31, 2023
Cost in excess of billings and estimated earnings |  | $ | 46.4 |  |  | $ | 73.8 |
Conditional retainage |  | 35.8 |  |  | 44.8 |
Contract assets |  | $ | 82.2 |  |  | $ | 118.6 |
Billings in excess of costs and estimated earnings |  | $ | (194.5) |  |  | $ | (229.3) |
Conditional retainage |  | 69.1 |  |  | 75.8 |
Contract liabilities |  | $ | (125.4) |  |  | $ | (153.5) |
Schedule of Remaining Performance Obligations | As of March 31, 2024, the transaction price allocated to remaining unsatisfied performance obligations consisted of the following (in millions):
|  | Within One Year |  | Within Five Years |  |  |  | Total
Healthcare |  | $ | 175.0 |  |  | $ | 194.5 |  |  |  |  | $ | 369.5 |
Commercial |  | 219.0 |  |  | 0.4 |  |  |  |  | 219.4 |
Industrial |  | 174.3 |  |  | 0.4 |  |  |  |  | 174.7 |
Transportation |  | 107.0 |  |  | 32.1 |  |  |  |  | 139.1 |
Government |  | 9.8 |  |  | — |  |  |  |  | 9.8 |
Convention |  | 8.2 |  |  | — |  |  |  |  | 8.2 |
Energy |  | 1.9 |  |  | — |  |  |  |  | 1.9 |
Leisure |  | 2.6 |  |  | — |  |  |  |  | 2.6 |
Remaining unsatisfied performance obligations | $ | 697.8 |  |  | $ | 227.4 |  |  |  |  | $ | 925.2 |

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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