Contract Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 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)	June 30, 2024		December 31, 2023
Costs in excess of billings and estimated earnings	$	135,326	$	100,106
Contract retention	174,050		162,881
Total contract assets	$	309,376	$	262,987

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

(in thousands)	June 30, 2024		December 31, 2023
Billings in excess of costs and estimated earnings, net of retention	$	245,536	$	227,913
Provisions for losses	16,662		15,935
Total contract liabilities	$	262,198	$	243,848