Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Significant Accounting Policies

Schedule of disaggregation of revenue

	Three Months Ended March 31,
Revenue by Service Provided	2020				2019
Mechanical Services	$	565,464	80.8	%	$	534,585	99.3	%
Electrical Services		134,667	19.2	%		3,888	0.7	%
Total	$	700,131	100.0	%	$	538,473	100.0	%

	Three Months Ended March 31,
Revenue by Type of Customer	2020				2019
Industrial	$	275,198	39.3	%	$	168,660	31.3	%
Education		109,584	15.7	%		66,743	12.4	%
Office Buildings		75,572	10.8	%		66,212	12.3	%
Healthcare		99,259	14.2	%		92,023	17.1	%
Government		38,981	5.6	%		32,279	6.0	%
Retail, Restaurants and Entertainment		61,203	8.7	%		59,391	11.0	%
Multi-Family and Residential		18,731	2.7	%		30,235	5.6	%
Other		21,603	3.0	%		22,930	4.3	%
Total	$	700,131	100.0	%	$	538,473	100.0	%
	Three Months Ended March 31,
Revenue by Activity Type	2020				2019
New Construction	$	347,400	49.6	%	$	223,960	41.6	%
Existing Building Construction		207,166	29.6	%		182,296	33.8	%
Service Projects		51,648	7.4	%		50,384	9.4	%
Service Calls, Maintenance and Monitoring		93,917	13.4	%		81,833	15.2	%
Total	$	700,131	100.0	%	$	538,473	100.0	%

Schedule of activity in allowance for credit losses

Activity in our allowance for credit losses consisted of the following (in thousands):

	Service		Construction		Other		Total
Balance at beginning of year	$	3,192	$	3,400	$	315	$	6,907
Impact of new accounting standard		310		331		54		695
Bad debt expense (benefit)		2,754		1,797		—		4,551
Deductions for uncollectible receivables written off, net of recoveries		(234)		(6)		—		(240)
Credit allowance of acquired companies on the acquisition date		—		352		—		352
Purchase accounting adjustments		—		72		—		72
Reclass to other current liabilities		—		—		(315)		(315)
Balance at March 31, 2020	$	6,022	$	5,946	$	54	$	12,022

Schedule of contract assets and liabilities

The following table presents the changes in contract assets and contract liabilities (in thousands):

	Three Months Ended March 31,					Year Ended December 31,
	2020				2019
	Contract		Contract		Contract		Contract
	Assets		Liabilities		Assets		Liabilities
Balance at beginning of period	$	2,736	$	166,918	$	10,213	$	130,986
Change due to acquisitions / disposals		436		12,851		6,573		31,556
Change due to conditional versus unconditional		4,394		—		(14,050)		—
Change in timing for performance obligation to be satisfied		—		35,337		—		4,376
Change related to credit allowance		(25)		—		—		—
Balance at end of period	$	7,541	$	215,106	$	2,736	$	166,918

Schedule of lease assets and liabilities

The following table summarizes the lease assets and liabilities included in the consolidated Balance Sheet as follows (in thousands):

	March 31, 2020		December 31, 2019
Lease right-of-use assets	$	82,301	$	84,073
Lease liabilities:
Other current liabilities		14,515		14,016
Long-term lease liabilities		70,410		72,697
Total lease liabilities	$	84,925	$	86,713

Schedule of maturities of lease liabilities

The maturities of lease liabilities are as follows (in thousands):

Year ending December 31—
2020 (excluding the three months ended March 31, 2020)	$	13,376
2021		15,511
2022		13,261
2023		10,945
2024		9,436
Thereafter		36,982
Total Lease Payments		99,511
Less—Present Value Discount		(14,586)
Present Value of Lease Liabilities	$	84,925

Schedule of supplemental information related to leases

Supplemental information related to leases was as follows (in thousands):

	Three Months Ended March 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities	$	4,473	$	3,778
Lease right-of-use assets obtained in exchange for lease liabilities	$	2,278	$	174