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Revenue
9 Months Ended
Sep. 30, 2023
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 three and nine months ended September 30, 2023 and 2022.
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in thousands)2023202220232022
Civil segment revenue by end market:
Mass transit (includes certain transportation and tunneling projects)$293,209 $311,702 $842,751 $794,414 
Military facilities83,811 66,063 253,189 176,212 
Bridges72,112 86,042 154,083 212,362 
Commercial and industrial sites36,038 19,813 87,955 44,583 
Other35,324 17,285 86,509 67,751 
Total Civil segment revenue$520,494 $500,905 $1,424,487 $1,295,322 
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in thousands)2023202220232022
Building segment revenue by end market:
Government$120,493 $88,624 $307,927 $248,405 
Health care facilities82,417 48,602 188,673 134,439 
Education facilities57,429 41,538 159,926 102,574 
Mass transit (includes transportation projects)45,191 40,783 141,382 111,431 
Commercial and industrial facilities11,358 60,711 65,655 149,106 
Hospitality and gaming19,158 17,455 55,743 118,450 
Sports and entertainment16,129 7,143 42,959 17,089 
Other(a)
13,274 13,194 (35,821)34,145 
Total Building segment revenue$365,449 $318,050 $926,444 $915,639 
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in thousands)2023202220232022
Specialty Contractors segment revenue by end market:
Commercial and industrial facilities$51,613 $50,213 $159,423 $116,514 
Multi-unit residential31,751 31,461 93,754 84,642 
Mass transit (includes certain transportation and tunneling projects)18,349 95,281 70,867 289,703 
Water18,275 20,274 66,756 55,693 
Government19,948 17,738 61,780 43,356 
Health care facilities20,486 6,750 44,065 21,706 
Other(a)
14,340 30,254 11,180 61,532 
Total Specialty Contractors segment revenue$174,762 $251,971 $507,825 $673,146 
Three Months Ended
September 30, 2023
Three Months Ended
September 30, 2022
(in thousands)CivilBuildingSpecialty
Contractors
TotalCivilBuildingSpecialty
Contractors
Total
Revenue by customer type:
State and local agencies$354,819 $197,031 $81,366 $633,216 $375,566 $136,082 $113,907 $625,555 
Federal agencies97,593 49,853 (7,369)140,077 97,741 42,367 4,983 145,091 
Private owners68,082 118,565 100,765 287,412 27,598 139,601 133,081 300,280 
Total revenue$520,494 $365,449 $174,762 $1,060,705 $500,905 $318,050 $251,971 $1,070,926 
Nine Months Ended
September 30, 2023
Nine Months Ended
September 30, 2022
(in thousands)CivilBuildingSpecialty
Contractors
TotalCivilBuildingSpecialty
Contractors
Total
Revenue by customer type:
State and local agencies$971,259 $510,879 $221,927 $1,704,065 $1,008,819 $349,245 $297,955 $1,656,019 
Federal agencies292,288 138,678 (10,890)420,076 211,426 130,867 19,503 361,796 
Private owners(a)
160,940 276,887 296,788 734,615 75,077 435,527 355,688 866,292 
Total revenue$1,424,487 $926,444 $507,825 $2,858,756 $1,295,322 $915,639 $673,146 $2,884,107 

Three Months Ended
September 30, 2023
Three Months Ended
September 30, 2022
(in thousands)CivilBuildingSpecialty
Contractors
TotalCivilBuildingSpecialty
Contractors
Total
Revenue by contract type:
Fixed price$417,973 $130,422 $142,750 $691,145 $416,216 $103,804 $206,886 $726,906 
Guaranteed maximum price91 165,397 907 166,395 (13)144,831 5,627 150,445 
Unit price91,906 — 24,564 116,470 90,372 — 25,951 116,323 
Cost plus fee and other10,524 69,630 6,541 86,695 (5,670)69,415 13,507 77,252 
Total revenue$520,494 $365,449 $174,762 $1,060,705 $500,905 $318,050 $251,971 $1,070,926 
Nine Months Ended
September 30, 2023
Nine Months Ended
September 30, 2022
(in thousands)CivilBuildingSpecialty
Contractors
TotalCivilBuildingSpecialty
Contractors
Total
Revenue by contract type:
Fixed price$1,217,689 $362,591 $419,457 $1,999,737 $1,090,623 $270,618 $563,985 $1,925,226 
Guaranteed maximum price(a)
46 360,245 929 361,220 581 462,294 14,321 477,196 
Unit price183,580 — 69,696 253,276 213,092 33 62,837 275,962 
Cost plus fee and other23,172 203,608 17,743 244,523 (8,974)182,694 32,003 205,723 
Total revenue$1,424,487 $926,444 $507,825 $2,858,756 $1,295,322 $915,639 $673,146 $2,884,107 
____________________________________________________________________________________________________
(a)The nine-month period ended September 30, 2023 includes the negative impact of a non-cash charge of $83.6 million in the first quarter of 2023 that resulted from an adverse legal ruling (of which $72.2 million impacted the Building segment and $11.4 million impacted the Specialty Contractors segment). Refer to Note 17, Business Segments, for additional details.

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 nine months ended September 30, 2023 related to performance obligations satisfied (or partially satisfied) in prior periods by $55.3 million and $167.4 million, respectively. Refer to Note 17, Business Segments, for additional details on significant adjustments. Revenue was negatively impacted during the three and nine months ended September 30, 2022 related to performance obligations satisfied (or partially satisfied) in prior periods by $54.2 million and $164.1 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 September 30, 2023, the aggregate amounts of the transaction prices allocated to the remaining performance obligations of the Company’s construction contracts were $4.5 billion, $2.3 billion and $1.1 billion for the Civil, Building and Specialty Contractors segments, respectively. As of September 30, 2022, the aggregate amounts of the transaction prices allocated to the remaining performance obligations of the Company’s construction contracts were $4.7 billion, $2.3 billion and $1.3 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.