Retirement and Other Benefit Plans |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Retirement Benefits [Abstract] | |
| Retirement and Other Benefit Plans | 15. Retirement and Other Benefit Plans The Company’s principal retirement benefit plan is the ESOP, a stock bonus plan, established in 1975 to cover eligible employees of the Company and certain affiliated companies. Contributions of treasury stock to ESOP are made annually in amounts determined by the Company’s board of directors and are held in trust for the sole benefit of the participants. Shares allocated to a participant’s account are fully vested after three years of credited service, or in the event(s) of reaching age 65, death or disability while an active employee of the Company. As of December 31, 2025, the total shares of the Company’s common stock outstanding were 106,968,082, of which 50,864,117 were held by the ESOP. As of December 31, 2024, the total shares of the Company’s common stock outstanding were 106,775,350 of which 54,117,903 were held by the ESOP. A participant’s interest in their ESOP account is redeemable upon certain events, including retirement, death, termination due to permanent disability, a severe financial hardship following termination of employment, certain conflicts of interest following termination of employment, or the exercise of diversification rights. Distributions from the ESOP of participants’ interests are made in the Company’s common stock based on quoted prices of a share of the Company’s common stock on the NYSE. A participant will be able to sell such shares of common stock in the market, subject to any requirements of the federal securities laws. Total ESOP contribution expense was approximately $72.5 million, $59.8 million and $58.2 million for the years ended December 31, 2025, December 31, 2024 and December 31, 2023, respectively, and is recorded in “Direct costs of contracts” and “Selling, general and administrative expense” in the consolidated statements of income. The Company also maintains a defined contribution plan (the “401(k) Plan”). Substantially all domestic employees are entitled to participate in the 401(k) Plan, subject to certain minimum requirements. The Company’s contributions to the 401(k) Plan for the years ended December 31, 2025, December 31, 2024 and December 31, 2023 amounted to $45.8 million, $37.7 million, and $35.4 million, respectively. |