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Revenue from Contracts with Customers (Tables)
9 Months Ended
Sep. 30, 2024
Revenue from Contracts with Customers  
Schedule of disaggregation of revenue See details in the following tables (dollars in thousands):

Three Months Ended September 30,

Nine Months Ended September 30,

Revenue by Service Provided

   

2024

   

2023

   

2024

   

2023

Mechanical Segment

$

1,438,617

   

79.4

%

$

1,031,310

   

74.8

%

$

4,075,305

   

79.0

%

$

2,925,848

   

76.0

%

Electrical Segment

373,749

20.6

%

346,814

25.2

%

1,084,367

21.0

%

923,346

24.0

%

Total

$

1,812,366

100.0

%

$

1,378,124

100.0

%

$

5,159,672

100.0

%

$

3,849,194

100.0

%

Three Months Ended September 30,

Nine Months Ended September 30,

Revenue by Type of Customer

2024

2023

 

2024

2023

 

Technology

$

615,398

34.0

%

$

303,847

22.0

%

$

1,641,525

31.8

%

$

795,327

20.7

%

Manufacturing

452,157

24.9

%

469,173

34.0

%

1,439,772

27.9

%

1,271,348

33.0

%

Education

195,737

10.8

%

139,206

10.1

%

523,153

10.1

%

376,637

9.8

%

Healthcare

149,974

8.3

%

133,130

9.7

%

424,450

8.2

%

431,329

11.2

%

Office Buildings

109,233

6.0

%

104,937

7.6

%

326,137

6.3

%

299,103

7.8

%

Retail, Restaurants and Entertainment

114,572

6.3

%

77,802

5.6

%

309,658

6.0

%

234,779

6.1

%

Government

92,555

5.1

%

85,220

6.3

%

271,429

5.3

%

227,232

5.9

%

Multi-Family and Residential

33,838

1.9

%

45,523

3.3

%

110,870

2.2

%

136,825

3.5

%

Other

48,902

2.7

%

19,286

1.4

%

112,678

2.2

%

76,614

2.0

%

Total

$

1,812,366

100.0

%

$

1,378,124

100.0

%

$

5,159,672

100.0

%

$

3,849,194

100.0

%

Three Months Ended September 30,

Nine Months Ended September 30,

Revenue by Activity Type

2024

2023

 

2024

2023

 

New Construction

$

949,035

52.4

%

$

798,289

57.9

%

$

2,930,283

56.8

%

$

2,108,153

54.8

%

Existing Building Construction

570,288

31.5

%

305,795

22.2

%

1,407,231

27.3

%

974,085

25.3

%

Service Projects

125,249

6.9

%

117,202

8.5

%

355,643

6.9

%

335,053

8.7

%

Service Calls, Maintenance and Monitoring

167,794

9.2

%

156,838

11.4

%

466,515

9.0

%

431,903

11.2

%

Total

$

1,812,366

100.0

%

$

1,378,124

100.0

%

$

5,159,672

100.0

%

$

3,849,194

100.0

%

Schedule of contract assets and liabilities

Contract assets and liabilities in the Consolidated Balance Sheet consisted of the following amounts as of September 30, 2024 and December 31, 2023 (in thousands):

September 30, 2024

December 31, 2023

Contract assets:

Costs and estimated earnings in excess of billings, less allowance for credit losses

$

73,934

$

28,084

Contract liabilities:

Billings in excess of costs and estimated earnings and deferred revenue

$

1,197,532

$

909,538