v3.26.1
Variable Interest Entities and Equity Method Investments - Schedule of Carrying Amounts and Classification of the PCs' Assets and Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Variable Interest Entity [Line Items]    
Contract assets, net $ 355,750 $ 259,941
Total current assets 1,470,599 1,110,346
Total assets [1] 3,483,108 2,679,396
Accrued and other current liabilities 73,849 16,475
Total liabilities [1] 2,532,069 1,890,601
Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Cash 2,173 5,019
Accounts receivable, net 13,028 12,868
Contract assets, net 3,382 3,699
Total current assets 18,583 21,586
Other assets 210 224
Total assets 18,793 21,810
Accrued and other current liabilities 1,770 2,359
Contract liabilities 6,923 7,012
Total liabilities $ 8,693 $ 9,371
[1] As of March 31, 2026, total assets include $18.8 million and total liabilities include $8.7 million for consolidated variable interest PCs as defined in “Note 6—Variable Interest Entities and Equity Method Investments”. As of December 31, 2025, total assets include $21.8 million and total liabilities include $9.4 million for consolidated variable interest PCs. Substantially all of the remaining total assets and total liabilities are attributable to the consolidated Legence Holdings variable interest entity, excluding the Tax receivable agreement liability (refer to “Note 14—Tax Receivable Agreement”) and deferred tax assets net of valuation allowance of $51.9 million and $29.5 million included in Other assets as of March 31, 2026 and December 31, 2025, respectively. Assets of the variable interest entities can only be used to settle the liabilities of those entities. Refer to “Note 6—Variable Interest Entities and Equity Method Investments” for additional information.