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v3.25.3

Revenue and Contracts in Process (Tables) | 9 Months Ended
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Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Reconciliation of Revenue from Segments to Consolidated | Revenue from contracts with customers consisted of the following (in millions):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Infrastructure |  | $ | 338.4 |  |  | $ | 232.8 |  |  | $ | 836.4 |  |  | $ | 845.9 |
Life Sciences |  | 3.1 |  |  | 3.0 |  |  | 9.4 |  |  | 5.7 |
Spectrum |  | 5.6 |  |  | 6.4 |  |  | 17.5 |  |  | 18.9 |
Total revenue |  | $ | 347.1 |  |  | $ | 242.2 |  |  | $ | 863.3 |  |  | $ | 870.5 |
Schedule of Accounts Receivable, net | Accounts receivable, net, from contracts with customers consisted of the following (in millions):
|  | September 30, 2025 |  | December 31, 2024
Infrastructure |  | $ | 260.2 |  |  | $ | 184.8 |
Life Sciences |  | 2.3 |  |  | 1.5 |
Spectrum |  | 1.8 |  |  | 1.9 |
Total accounts receivable with customers |  | $ | 264.3 |  |  | $ | 188.2 |
Accounts receivable, net, consisted of the following (in millions):
|  | September 30, 2025 |  | December 31, 2024
Contracts in progress |  | $ | 260.2 |  |  | $ | 184.9 |
Unbilled retentions |  | 0.1 |  |  | 0.1 |
Trade receivables |  | 4.1 |  |  | 3.3 |
Other receivables |  | 1.3 |  |  | 5.8 |
Allowance for expected credit losses |  | (0.1) |  |  | (0.1) |
Total |  | $ | 265.6 |  |  | $ | 194.0 |
Schedule of Disaggregation of Revenue | The following table disaggregates DBMG's revenue by market (in millions):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Commercial |  | 116.1 |  |  | 57.1 |  |  | 246.2 |  |  | 230.9 |
Industrial |  | $ | 85.1 |  |  | $ | 64.7 |  |  | $ | 219.1 |  |  | $ | 242.5 |
Transportation |  | 48.6 |  |  | 58.2 |  |  | 134.6 |  |  | 228.0 |
Healthcare |  | 48.6 |  |  | 40.9 |  |  | 124.2 |  |  | 114.4 |
Government |  | 36.1 |  |  | 3.9 |  |  | 84.5 |  |  | 5.6 |
Leisure |  | 1.7 |  |  | 4.3 |  |  | 12.9 |  |  | 6.9 |
Convention |  | 0.2 |  |  | 1.8 |  |  | 8.3 |  |  | 10.3 |
Energy |  | 1.8 |  |  | 1.9 |  |  | 5.5 |  |  | 5.7 |
Total revenue from contracts with customers |  | $ | 338.2 |  |  | $ | 232.8 |  |  | $ | 835.3 |  |  | $ | 844.3 |
Other revenue |  | 0.2 |  |  | — |  |  | 1.1 |  |  | 1.6 |
Total Infrastructure segment revenue |  | $ | 338.4 |  |  | $ | 232.8 |  |  | $ | 836.4 |  |  | $ | 845.9 |
The following table disaggregates the Life Sciences segment's revenue by type (in millions):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Systems and consumables revenue |  | $ | 3.1 |  |  | $ | 3.0 |  |  | $ | 9.4 |  |  | $ | 5.7 |
Total Life Sciences segment revenue |  | $ | 3.1 |  |  | $ | 3.0 |  |  | $ | 9.4 |  |  | $ | 5.7 |
The following table disaggregates the Spectrum segment's revenue by type (in millions):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Broadcast station |  | $ | 5.6 |  |  | $ | 6.4 |  |  | $ | 17.5 |  |  | $ | 18.9 |
Total Spectrum segment revenue |  | $ | 5.6 |  |  | $ | 6.4 |  |  | $ | 17.5 |  |  | $ | 18.9 |
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 consisted of the following (in millions):
|  | September 30, 2025 |  | December 31, 2024
Costs incurred on contracts in progress |  | $ | 1,323.5 |  |  | $ | 1,435.2 |
Estimated earnings |  | 118.8 |  |  | 75.8
Contract revenue earned on uncompleted contracts |  | 1,442.3 |  |  | 1,511.0 |
Less: progress billings |  | 1,537.0 |  |  | 1,513.8 |
|  | $ | (94.7) |  |  | $ | (2.8) |
The above is included in the accompanying Condensed Consolidated Balance Sheets under the following line items:
Contract assets |  | $ | 80.8 |  |  | $ | 106.3 |
Contract liabilities |  | (175.5) |  |  | (109.1) |
|  | $ | (94.7) |  |  | $ | (2.8) |
Schedule of Contract with Customer, Asset and Liability |
|  | September 30, 2025 |  | December 31, 2024
Cost in excess of billings and estimated earnings |  | $ | 30.9 |  |  | $ | 50.8 |
Conditional retainage |  | 49.9 |  |  | 55.5 |
Contract assets |  | $ | 80.8 |  |  | $ | 106.3 |
Billings in excess of costs and estimated earnings |  | $ | (213.4) |  |  | $ | (147.7) |
Conditional retainage |  | 37.9 |  |  | 38.6 |
Contract liabilities |  | $ | (175.5) |  |  | $ | (109.1) |
Schedule of Remaining Performance Obligations | As of September 30, 2025, the transaction price allocated to remaining unsatisfied performance obligations consisted of the following (in millions):
|  | Within One Year |  | Within Five Years |  |  |  | Total
Commercial |  | $ | 283.0 |  |  | $ | 26.7 |  |  |  |  | $ | 309.7 |
Healthcare |  | 186.6 |  |  | 68.4 |  |  |  |  | 255.0 |
Industrial |  | 223.5 |  |  | 13.9 |  |  |  |  | 237.4 |
Transportation |  | 273.1 |  |  | 281.3 |  |  |  |  | 554.4 |
Government |  | 143.1 |  |  | 6.9 |  |  |  |  | 150.0 |
Leisure |  | 0.3 |  |  | 13.4 |  |  |  |  | 13.7 |
Convention |  | 0.6 |  |  | — |  |  |  |  | 0.6 |
Energy |  | 16.9 |  |  | — |  |  |  |  | 16.9 |
Remaining unsatisfied performance obligations | $ | 1,127.1 |  |  | $ | 410.6 |  |  |  |  | $ | 1,537.7 |

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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 -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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