v3.26.1
Uncompleted Contracts (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Changes in Contract Assets and Liabilities
The changes in contract assets and liabilities were as follows:
March 31, 2026December 31, 2025Change
(In thousands)
Contract assets1
$77,188 $77,528 $(340)
Contract liabilities1
(30,301)(33,773)3,472 
Net contract assets
$46,887 $43,755 $3,132 
1Following the issuance of the FASB Staff Educational Paper on Topic 606: Presentation and Disclosure of Retainage for Construction Contractors, we have reclassed retention receivables on a contract-by-contract basis from accounts receivable to contract assets and liabilities. The change in presentation was on a prospective basis beginning with balances as of December 31, 2025.
March 31, 2025December 31, 2024Change
(In thousands)
Contract assets
$28,505 $31,283 $(2,778)
Contract liabilities(42,016)(42,126)110 
Net contract liabilities
$(13,511)$(10,843)$(2,668)