XML 21 R9.htm IDEA: XBRL DOCUMENT v3.21.2
Revenue
6 Months Ended
Jun. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
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 for the three and six months ended June 30, 2021 and 2020.
Three Months Ended
June 30,
Six Months Ended
June 30,
(in thousands)2021202020212020
Civil segment revenue by end market:
Mass transit (includes certain transportation and tunneling projects)$366,534 $354,809 $675,409 $651,952 
Bridges65,775 89,100 111,942 141,284 
Military defense facilities44,585 35,042 94,121 58,652 
Water24,800 29,548 51,610 53,292 
Highways29,726 35,591 41,052 68,173 
Other23,932 24,886 56,793 82,252 
Total Civil segment revenue$555,352 $568,976 $1,030,927 $1,055,605 
Three Months Ended
June 30,
Six Months Ended
June 30,
(in thousands)2021202020212020
Building segment revenue by end market:
Commercial and industrial facilities$101,960 $106,899 $232,012 $239,948 
Hospitality and gaming86,145 107,942 186,712 226,929 
Municipal and government74,475 79,223 146,384 148,725 
Education facilities46,143 47,038 84,460 78,660 
Mass transit (includes transportation projects)34,344 66,552 60,879 124,399 
Mixed use16,127 13,101 35,676 23,073 
Health care facilities13,598 32,418 24,007 68,307 
Other9,868 19,848 19,763 44,744 
Total Building segment revenue$382,660 $473,021 $789,893 $954,785 
Three Months Ended
June 30,
Six Months Ended
June 30,
(in thousands)2021202020212020
Specialty Contractors segment revenue by end market:
Mass transit (includes certain transportation and tunneling projects)$148,045 $118,634 $329,208 $267,305 
Commercial and industrial facilities36,637 20,499 75,386 74,004 
Multi-unit residential30,649 37,611 73,444 64,104 
Water17,514 16,090 38,668 25,928 
Education facilities18,425 10,338 31,781 26,895 
Mixed use13,940 10,536 23,479 24,338 
Other16,021 20,722 34,052 34,192 
Total Specialty Contractors segment revenue$281,231 $234,430 $606,018 $516,766 
Three Months Ended
June 30, 2021
Three Months Ended
June 30, 2020
(in thousands)CivilBuildingSpecialty
Contractors
TotalCivilBuildingSpecialty
Contractors
Total
Revenue by customer type:
State and local agencies$481,333 $92,275 $124,080 $697,688 $503,828 $157,748 $113,623 $775,199 
Federal agencies49,335 49,287 5,704 104,326 42,590 34,648 11,292 88,530 
Private owners24,684 241,098 151,447 417,229 22,558 280,625 109,515 412,698 
Total revenue$555,352 $382,660 $281,231 $1,219,243 $568,976 $473,021 $234,430 $1,276,427 
Six Months Ended
June 30, 2021
Six Months Ended
June 30, 2020
(in thousands)CivilBuildingSpecialty
Contractors
TotalCivilBuildingSpecialty
Contractors
Total
Revenue by customer type:
State and local agencies$871,835 $168,856 $267,004 $1,307,695 $899,873 $303,764 $246,496 $1,450,133 
Federal agencies100,968 99,648 26,941 227,557 79,251 66,621 21,048 166,920 
Private owners58,124 521,389 312,073 891,586 76,481 584,400 249,222 910,103 
Total revenue$1,030,927 $789,893 $606,018 $2,426,838 $1,055,605 $954,785 $516,766 $2,527,156 
Three Months Ended
June 30, 2021
Three Months Ended
June 30, 2020
(in thousands)CivilBuildingSpecialty
Contractors
TotalCivilBuildingSpecialty
Contractors
Total
Revenue by contract type:
Fixed price$461,068 $95,349 $246,290 $802,707 $455,928 $114,229 $205,531 $775,688 
Guaranteed maximum price498 247,402 2,563 250,463 281 248,738 4,038 253,057 
Unit price88,516 (1,564)28,703 115,655 111,790 629 18,442 130,861 
Cost plus fee and other5,270 41,473 3,675 50,418 977 109,425 6,419 116,821 
Total revenue$555,352 $382,660 $281,231 $1,219,243 $568,976 $473,021 $234,430 $1,276,427 

Six Months Ended
June 30, 2021
Six Months Ended
June 30, 2020
(in thousands)CivilBuildingSpecialty
Contractors
TotalCivilBuildingSpecialty
Contractors
Total
Revenue by contract type:
Fixed price$880,224 $179,798 $539,758 $1,599,780 $864,899 $219,827 $454,047 $1,538,773 
Guaranteed maximum price1,768 517,856 3,693 523,317 589 486,511 6,587 493,687 
Unit price141,249 (1,453)57,000 196,796 183,148 1,163 39,593 223,904 
Cost plus fee and other7,686 93,692 5,567 106,945 6,969 247,284 16,539 270,792 
Total revenue$1,030,927 $789,893 $606,018 $2,426,838 $1,055,605 $954,785 $516,766 $2,527,156 

Changes in Contract Estimates that Impact Revenue
Changes to the total estimated contract revenue or cost for a given project, either due to unexpected events or revisions to management’s initial estimates, are recognized in the period in which they are determined. Revenue was negatively impacted during the three and six month periods ended June 30, 2021 related to performance obligations satisfied (or partially satisfied) in prior periods by $8.9 million and $29.0 million, respectively. Likewise, revenue was negatively impacted during the three and six month periods ended June 30, 2020 related to performance obligations satisfied (or partially satisfied) in prior periods by $19.8 million and $35.6 million, respectively.
Remaining Performance Obligations
Remaining performance obligations represent the transaction price of firm orders for which work has not been performed and exclude unexercised contract options. As of June 30, 2021, the aggregate amounts of the transaction prices allocated to the remaining performance obligations of the Company’s construction contracts were $4.3 billion, $1.5 billion and $1.5 billion for the Civil, Building and Specialty Contractors segments, respectively. As of June 30, 2020, the aggregate amounts of the transaction prices allocated to the remaining performance obligations of the Company’s construction contracts were $5.1 billion, $1.7 billion and $2.2 billion for the Civil, Building and Specialty Contractors segments, respectively. The Company typically recognizes revenue on Civil segment projects over a period of three to five years, whereas for projects in the Building and Specialty Contractors segments, the Company typically recognizes revenue over a period of one to three years.