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Revenue
 12 Months Ended
Dec. 31, 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 depict how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors for the years ended December 31, 2021, 2020 and 2019.
Year Ended December 31,
(in thousands)202120202019
Civil segment revenue by end market:
Mass transit (includes certain transportation and tunneling projects)$1,417,196 $1,367,412 $992,755 
Bridges238,345 306,161 334,117 
Military defense facilities194,701 146,969 59,082 
Water98,739 101,705 33,370 
Highways55,666 122,254 86,747 
Other91,113 155,398 273,281 
Total Civil segment revenue$2,095,760 $2,199,899 $1,779,352 
Year Ended December 31,
(in thousands)202120202019
Building segment revenue by end market:
Commercial and industrial facilities$352,265 $580,297 $459,806 
Hospitality and gaming338,998 474,329 297,700 
Municipal and government291,629 287,337 254,736 
Education facilities159,929 173,472 143,382 
Mass transit (includes transportation projects)130,923 218,930 201,400 
Health care facilities64,042 117,968 239,299 
Other90,316 132,308 145,717 
Total Building segment revenue$1,428,102 $1,984,641 $1,742,040 
Year Ended December 31,
(in thousands)202120202019
Specialty Contractors segment revenue by end market:
Mass transit (includes certain transportation and tunneling projects)$588,162 $592,430 $419,402 
Commercial and industrial facilities139,751 152,868 186,819 
Multi-unit residential133,085 139,924 83,903 
Water90,887 73,769 37,403 
Education facilities50,572 44,762 70,229 
Mixed use44,660 47,022 64,302 
Other70,851 83,448 67,382 
Total Specialty Contractors segment revenue$1,117,968 $1,134,223 $929,440 
Year Ended December 31, 2021
(in thousands)CivilBuildingSpecialty
Contractors		Total
Revenue by customer type:
State and local agencies$1,791,531 $363,686 $481,255 $2,636,472 
Federal agencies205,080 189,508 47,724 442,312 
Private owners99,149 874,908 588,989 1,563,046 
Total revenue$2,095,760 $1,428,102 $1,117,968 $4,641,830 
Year Ended December 31, 2020
(in thousands)CivilBuildingSpecialty
Contractors		Total
Revenue by customer type:
State and local agencies$1,875,653 $534,449 $533,768 $2,943,870 
Federal agencies175,933 143,327 75,067 394,327 
Private owners148,313 1,306,865 525,388 1,980,566 
Total revenue$2,199,899 $1,984,641 $1,134,223 $5,318,763 
Year Ended December 31, 2019
(in thousands)CivilBuildingSpecialty
Contractors		Total
Revenue by customer type:
State and local agencies$1,401,001 $573,049 $496,195 $2,470,245 
Federal agencies116,869 153,467 11,326 281,662 
Private owners261,482 1,015,524 421,919 1,698,925 
Total revenue$1,779,352 $1,742,040 $929,440 $4,450,832 
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, tunnels, 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 owners (i.e., 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.
Year Ended December 31, 2021
(in thousands)CivilBuildingSpecialty
Contractors		Total
Revenue by contract type:
Fixed price$1,815,079 $336,128 $988,941 $3,140,148 
Guaranteed maximum price2,854 888,345 14,505 905,704 
Unit price268,377 (1,373)96,782 363,786 
Cost plus fee and other9,450 205,002 17,740 232,192 
Total revenue$2,095,760 $1,428,102 $1,117,968 $4,641,830 
Year Ended December 31, 2020
(in thousands)CivilBuildingSpecialty
Contractors		Total
Revenue by contract type:
Fixed price$1,792,765 $508,655 $1,010,973 $3,312,393 
Guaranteed maximum price1,829 1,136,782 15,417 1,154,028 
Unit price392,548 867 83,257 476,672 
Cost plus fee and other12,757 338,337 24,576 375,670 
Total revenue$2,199,899 $1,984,641 $1,134,223 $5,318,763 
Year Ended December 31, 2019
(in thousands)CivilBuildingSpecialty
Contractors		Total
Revenue by contract type:
Fixed price$1,315,195 $561,831 $769,410 $2,646,436 
Guaranteed maximum price6,951 752,110 21,291 780,352 
Unit price436,015 12,063 91,803 539,881 
Cost plus fee and other21,191 416,036 46,936 484,163 
Total revenue$1,779,352 $1,742,040 $929,440 $4,450,832 
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.
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 year ended December 31, 2021 related to performance obligations satisfied (or partially satisfied) in prior periods by a net $37.5 million for various projects. Revenue was negatively impacted during the year ended December 31, 2020 related to performance obligations satisfied (or partially satisfied) in prior periods by a net $77.0 million for various projects. Revenue was negatively impacted during the year ended December 31, 2019 related to performance obligations satisfied (or partially satisfied) in prior periods by a net $177.5 million for various projects, including a $123.9 million revenue impact that resulted from the charge related to the Alaskan Way Viaduct Matter discussed in Note 8.
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 December 31, 2021, the aggregate amounts of the transaction prices allocated to the remaining performance obligations of the Company’s construction contracts were $4.6 billion, $2.2 billion and $1.3 billion for the Civil, Building and Specialty Contractors segments, respectively. As of December 31, 2020, the aggregate amounts of the transaction prices allocated to the remaining performance obligations of the Company’s construction contracts were $4.8 billion, $1.5 billion and $1.8 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.