Contract Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Components of Contract Asset and Liability Balances

The components of the contract asset balances as of the respective dates were as follows:

(in thousands)	March 31, 2024		December 31, 2023
Costs in excess of billings and estimated earnings	$	142,853	$	100,106
Contract retention	163,151		162,881
Total contract assets	$	306,004	$	262,987

The components of the contract liability balances as of the respective dates were as follows:

(in thousands)	March 31, 2024		December 31, 2023
Billings in excess of costs and estimated earnings, net of retention	$	209,099	$	227,913
Provisions for losses	14,865		15,935
Total contract liabilities	$	223,964	$	243,848