Segments and Related Information (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Financial Information by Reportable Segment


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
Revenue:	2021		2020		2021		2020
Communications (a)	$	630.4	$	654.3	$	1,199.0	$	1,298.4
Clean Energy and Infrastructure	481.5		426.1		831.9		712.4
Oil and Gas	621.4		368.5		1,346.9		727.6
Electrical Transmission	232.5		124.1		366.0		252.2
Other	0.0		0.1		0.0		0.1
Eliminations	(3.1)		(3.8)		(5.7)		(4.8)
Consolidated revenue	$	1,962.7	$	1,569.3	$	3,738.1	$	2,985.9

(a) Revenue generated primarily by utilities customers represented 20.6% and 14.9% of Communications segment revenue for the three month periods ended June 30, 2021 and 2020, respectively, and represented 20.4% and 15.0% for the six month periods ended June 30, 2021 and 2020, respectively.


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
EBITDA:	2021		2020		2021		2020
Communications	$	72.7	$	76.4	$	121.5	$	127.2
Clean Energy and Infrastructure	15.6		30.1		26.4		35.0
Oil and Gas	138.1		80.1		305.7		154.5
Electrical Transmission	9.3		(3.2)		12.9		5.1
Other	8.3		7.5		15.8		14.9
Corporate	(19.9)		(31.0)		(59.8)		(62.9)
Consolidated EBITDA	$	224.1	$	159.9	$	422.5	$	273.8


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
Depreciation and Amortization:	2021		2020		2021		2020
Communications	$	23.8	$	21.4	$	45.6	$	41.0
Clean Energy and Infrastructure	10.5		4.7		18.1		8.7
Oil and Gas	56.2		32.1		108.3		60.2
Electrical Transmission	14.1		6.6		20.2		12.4
Other	0.0		0.0		0.0		0.0
Corporate	2.8		2.7		5.7		5.7
Consolidated depreciation and amortization	$	107.4	$	67.5	$	197.9	$	128.0

Reconciliation of Consolidated Income before Income Taxes to EBITDA


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
EBITDA Reconciliation:	2021		2020		2021		2020
Income before income taxes	$	102.8	$	77.6	$	198.3	$	114.1
Plus:
Interest expense, net	13.8		14.8		26.3		31.8
Depreciation	87.5		57.7		166.8		110.8
Amortization of intangible assets	19.9		9.8		31.2		17.2
Consolidated EBITDA	$	224.1	$	159.9	$	422.5	$	273.8

Schedule of Revenue by Major Customers by Reporting Segments

Revenue concentration information for significant customers as a percentage of total consolidated revenue was as follows:


	For the Three Months Ended June 30,		For the Six Months Ended June 30,
Customer:	2021	2020	2021	2020
Enbridge, Inc. (a)	12%	1%	18%	1%
AT&T (b)	12%	19%	12%	21%

Permian Highway Pipeline (c)	0%	10%	0%	7%

(a) The Company’s relationship with Enbridge, Inc. is based upon various construction contracts for pipeline activities, for which the related revenue is included within the Oil and Gas segment.

(b) The Company’s relationship with AT&T is based upon multiple separate master service and other service agreements, including for installation and maintenance services, as well as construction/installation contracts for AT&T’s: (i) wireless; (ii) wireline/fiber; and (iii) various install-to-the-home businesses. Revenue from AT&T is included within the Communications segment. The decrease in AT&T revenue for the three and six month periods ended June 30, 2021 as compared with the same periods in 2020 was primarily due to lower levels of wireless services, including from the effects of temporary project timing delays related to recently completed 5G spectrum auctions, and, for the six month period ended June 30, 2021, was also due to the effects of the COVID-19 pandemic.

(c) The Company's relationship with Permian Highway Pipeline is based upon various construction contracts for pipeline activities, for which the related revenue is included in the Oil and Gas segment.