Disaggregation of Revenue

The following tables disaggregate revenue by end market, customer type and contract type, which the Company believes best depicts how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors.



	Three Months		Nine Months
	Ended September 30,		Ended September 30,
(in thousands)	2018		2018
Civil segment revenue by end market:
Mass transit	$	177,619	$	485,841
Bridges		128,240		311,979
Highways		46,553		129,619
Tunneling		33,377		66,009
Other		45,699		103,627
Total Civil segment revenue	$	431,488	$	1,097,075



	Three Months		Nine Months
	Ended September 30,		Ended September 30,
(in thousands)	2018		2018
Building segment revenue by end market:
Health care facilities	$	127,219	$	320,416
Commercial and industrial facilities		57,505		290,571
Hospitality and gaming		65,744		226,999
Municipal and government		67,003		187,984
Mixed use		40,758		121,348
Education facilities		43,405		108,763
Other		53,858		136,631
Total Building segment revenue	$	455,492	$	1,392,712



	Three Months		Nine Months
	Ended September 30,		Ended September 30,
(in thousands)	2018		2018
Specialty Contractors segment revenue by end market:
Mass transit	$	63,457	$	216,808
Mixed use		37,587		137,420
Commercial and industrial facilities		48,601		136,892
Education facilities		26,024		77,626
Transportation		17,150		73,154
Condominiums		18,254		64,104
Health care facilities		12,873		43,861
Other		12,211		31,726
Total Specialty Contractors segment revenue	$	236,157	$	781,591



	Three Months Ended September 30, 2018
					Specialty
(in thousands)	Civil		Building		Contractors		Total
Revenue by customer type:
State and local agencies	$	341,067	$	177,377	$	99,913	$	618,357
Federal agencies		26,944		52,890		12,058		91,892
Private owners		63,477		225,225		124,186		412,888
Total revenue	$	431,488	$	455,492	$	236,157	$	1,123,137



	Nine Months Ended September 30, 2018
					Specialty
(in thousands)	Civil		Building		Contractors		Total
Revenue by customer type:
State and local agencies	$	894,613	$	452,918	$	312,541	$	1,660,072
Federal agencies		67,571		149,464		45,770		262,805
Private owners		134,891		790,330		423,280		1,348,501
Total revenue	$	1,097,075	$	1,392,712	$	781,591	$	3,271,378

State and local agencies. The Company’s state and local government customers include state transportation departments, metropolitan authorities, cities, municipal agencies, school districts and public universities. Services provided to state and local customers are primarily pursuant to contracts awarded through competitive bidding processes. Construction services for state and local government customers have included mass-transit systems, bridges, highways, judicial and correctional facilities, schools and dormitories, health care facilities, convention centers, parking structures and other municipal buildings. The vast majority of the Company’s civil contracting and building construction services are provided in locations throughout the United States and its territories.

Federal agencies. The Company’s federal government customers include the U.S. State Department, the U.S. Navy, the U.S. Army Corps of Engineers, the U.S. Air Force and the National Park Service. Services provided to federal agencies are typically pursuant to competitively bid contracts for specific or multi-year assignments that involve new construction or infrastructure repairs or improvements. A portion of revenue from federal agencies is derived from projects in overseas locations.

Private owners. The Company’s private customers include real estate developers, health care companies, technology companies, hospitality and gaming resort owners, Native American sovereign nations, public corporations and private universities. Services are provided to private customers through negotiated contract arrangements, as well as through competitive bids.

Most federal, state and local government contracts contain provisions that permit the termination of contracts, in whole or in part, for the convenience of government customers, among other reasons.



	Three Months Ended September 30, 2018
					Specialty
(in thousands)	Civil		Building		Contractors		Total
Revenue by contract type:
Fixed price	$	272,996	$	91,972	$	193,607	$	558,575
Guaranteed maximum price		3,025		269,069		18,720		290,814
Unit price		141,917		9,938		7,939		159,794
Cost plus fee and other		13,550		84,513		15,891		113,954
Total revenue	$	431,488	$	455,492	$	236,157	$	1,123,137



	Nine Months Ended September 30, 2018
					Specialty
(in thousands)	Civil		Building		Contractors		Total
Revenue by contract type:
Fixed price	$	716,826	$	267,630	$	675,526	$	1,659,982
Guaranteed maximum price		11,200		801,537		51,762		864,499
Unit price		332,118		29,526		21,829		383,473
Cost plus fee and other		36,931		294,019		32,474		363,424
Total revenue	$	1,097,075	$	1,392,712	$	781,591	$	3,271,378

Fixed price. Fixed price or lump sum contracts are most commonly used for projects in the Civil and Specialty Contractors segments and generally commit the Company to provide all of the resources required to complete a project for a fixed sum. Usually, fixed price contracts transfer more risk to the Company, but offer the opportunity for greater profits. Billings on fixed price contracts are typically based on estimated progress against predetermined contractual milestones.

Guaranteed maximum price (“GMP”). GMP contracts provide for a cost plus fee arrangement up to a maximum agreed upon price. These contracts place risks on the Company for amounts in excess of the GMP, but may permit an opportunity for greater profits than under cost plus fee contracts through sharing agreements with the owner on any cost savings that may be realized. Services provided by our Building segment to various private customers are often performed under GMP contracts. Billings on GMP contracts typically occur on a monthly basis and are based on actual costs incurred plus a negotiated margin.

Unit price. Unit price contracts are most prevalent for projects in the Civil and Specialty Contractors segments and generally commit the Company to provide an estimated or undetermined number of units or components that comprise a project at a fixed price per unit. This approach shifts the risk of estimating the quantity of units required to the project owner, but the risk of increased cost per unit is borne by the Company, unless otherwise allowed for in the contract. Billings on unit price contracts typically occur on a monthly basis and are based on actual quantity of work performed or completed during the billing period.

Cost plus fee. Cost plus fee contracts are used for many projects in the Building and Specialty Contractors segments. Cost plus fee contracts include cost plus fixed fee contracts and cost plus award fee contracts. Cost plus fixed fee contracts provide for reimbursement of approved project costs plus a fixed fee. Cost plus award fee contracts provide for reimbursement of the project costs plus a base fee, as well as an incentive fee based on cost and/or schedule performance. Cost plus fee contracts serve to minimize the Company’s financial risk, but may also limit profits. Billings on cost plus fee contracts typically occur on a monthly basis based on actual costs incurred plus a negotiated margin.