Commitments and Contingencies |
12 Months Ended |
---|---|
Dec. 31, 2022 | |
Commitments and Contingencies. | |
Commitments and Contingencies | Note 12—Commitments and Contingencies Legal proceedings—We are subject to claims and legal proceedings arising out of our business. We record costs related to contingencies when a loss from such claims is probable and the amount is reasonably estimable. In determining whether it is possible to provide an estimate of loss, or range of possible loss, we review and evaluate our litigation and regulatory matters on a quarterly basis in light of potentially relevant factual and legal developments. If we determine an unfavorable outcome is not probable or reasonably estimable, we do not accrue for a potential litigation loss. Management is unable to ascertain the ultimate outcome of claims and legal proceedings; however, after review and consultation with counsel and taking into consideration relevant insurance coverage and related deductibles/self-insurance retention, management believes that it has meritorious defense to the claims and believes that the reasonably possible outcome of such claims will not, individually or in the aggregate, have a materially adverse effect on our consolidated results of operations, financial condition or cash flow. Bonding—As of December 31, 2022 and 2021, we had bid and completion bonds issued and outstanding totaling approximately $4.3 billion and $3.2 billion, respectively. The remaining performance obligation on those bonded projects totaled approximately $1.7 billion and $1.2 billion, respectively. |