XML 34 R23.htm IDEA: XBRL DOCUMENT v3.23.3
Segment Information
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
We are one of the largest specialty contractors in the United States and a leading provider of electrical and mechanical construction and facilities services, building services, and industrial services. Our services are provided to a broad range of commercial, technology, manufacturing, industrial, healthcare, utility, and institutional customers through approximately 100 operating subsidiaries. Such operating subsidiaries are organized into the following reportable segments:
United States electrical construction and facilities services;
United States mechanical construction and facilities services;
United States building services;
United States industrial services; and
United Kingdom building services.
We refer to our United States electrical construction and facilities services segment and our United States mechanical construction and facilities services segment together as our United States construction segments.
Our reportable segments and related disclosures reflect certain reclassifications of prior year amounts from our United States mechanical construction and facilities services segment to our United States building services segment due to changes in our internal reporting structure aimed at realigning our service offerings.
NOTE 14 - Segment Information (Continued)
The following tables present financial information for each of our reportable segments for the three and nine months ended September 30, 2023 and 2022 (in thousands): 
 For the three months ended
September 30,
 20232022
Revenues from unrelated entities:
United States electrical construction and facilities services$697,406 $633,383 
United States mechanical construction and facilities services1,329,600 1,108,655 
United States building services817,718 719,383 
United States industrial services252,148 247,239 
Total United States operations3,096,872 2,708,660 
United Kingdom building services110,726 117,701 
Total operations$3,207,598 $2,826,361 
Total revenues:
United States electrical construction and facilities services$697,897 $634,957 
United States mechanical construction and facilities services1,342,149 1,125,162 
United States building services846,400 744,801 
United States industrial services252,244 266,182 
Less intersegment revenues(41,818)(62,442)
Total United States operations3,096,872 2,708,660 
United Kingdom building services110,726 117,701 
Total operations$3,207,598 $2,826,361 

 For the nine months ended
September 30,
 20232022
Revenues from unrelated entities:
United States electrical construction and facilities services$2,020,319 $1,719,525 
United States mechanical construction and facilities services3,602,271 3,158,948 
United States building services2,318,105 2,041,555 
United States industrial services875,314 842,524 
Total United States operations8,816,009 7,762,552 
United Kingdom building services327,643 363,746 
Total operations$9,143,652 $8,126,298 
Total revenues:
United States electrical construction and facilities services$2,022,557 $1,724,400 
United States mechanical construction and facilities services3,650,875 3,187,117 
United States building services2,397,944 2,116,385 
United States industrial services883,808 878,123 
Less intersegment revenues(139,175)(143,473)
Total United States operations8,816,009 7,762,552 
United Kingdom building services327,643 363,746 
Total operations$9,143,652 $8,126,298 
NOTE 14 - Segment Information (Continued)
For the three months ended
September 30,
20232022
Operating income (loss):
United States electrical construction and facilities services$63,127 $35,558 
United States mechanical construction and facilities services138,476 90,500 
United States building services57,156 46,041 
United States industrial services(174)(1,392)
Total United States operations258,585 170,707 
United Kingdom building services8,869 8,369 
Corporate administration(30,121)(28,982)
Impairment loss on long-lived assets
(2,350)— 
Total operations234,983 150,094 
Other items:
Net periodic pension (cost) income(284)1,025 
Interest expense, net(90)(3,194)
Income before income taxes$234,609 $147,925 
For the nine months ended
September 30,
20232022
Operating income (loss):
United States electrical construction and facilities services$154,365 $90,646 
United States mechanical construction and facilities services344,550 225,545 
United States building services140,943 108,698 
United States industrial services22,733 18,324 
Total United States operations662,591 443,213 
United Kingdom building services20,220 25,372 
Corporate administration(93,901)(80,890)
Impairment loss on long-lived assets
(2,350)— 
Total operations586,560 387,695 
Other items:
Net periodic pension (cost) income(840)3,288 
Interest expense, net(4,614)(6,234)
Income before income taxes$581,106 $384,749 
NOTE 14 - Segment Information (Continued)
September 30,
2023
December 31,
2022
Total assets:
United States electrical construction and facilities services$1,173,992 $1,078,405 
United States mechanical construction and facilities services2,159,947 1,835,001 
United States building services1,415,194 1,206,518 
United States industrial services586,360 552,545 
Total United States operations5,335,493 4,672,469 
United Kingdom building services262,629 255,547 
Corporate administration626,071 596,591 
Total operations$6,224,193 $5,524,607