v3.26.1
Contracts in Progress
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Contracts in Progress Contracts in Progress
Costs and billings on uncompleted construction-type contracts consist of the following (in millions):
June 30, 2026December 31, 2025
Costs incurred on contracts (from inception to completion)$509.6 $466.9 
Estimated earnings299.1 282.4 
Contracts in progress808.7 749.3 
Less: billings to date(745.6)(680.2)
$63.1 $69.1 
The balances reflected in the table above include the open projects acquired in the Paragon purchase; refer to Note 2, Business Combinations, Acquisitions, and Business Disposals, for additional information regarding the Paragon purchase.
The carrying amounts related to uncompleted construction-type contracts are included in the accompanying unaudited Condensed Consolidated Balance Sheets under the following captions (in millions):
June 30, 2026December 31, 2025
Costs and estimated earnings in excess of billings on uncompleted contracts – current$90.2 $93.8 
Costs and estimated earnings in excess of billings on uncompleted contracts – non-current (1)
23.5 21.5 
Billings in excess of costs and estimated earnings on uncompleted contracts – current (2)
(48.0)(43.7)
Billings in excess of costs and estimated earnings on uncompleted contracts – non-current (3)
(2.6)(2.5)
$63.1 $69.1 
(1) Included in other assets within the unaudited Condensed Consolidated Balance Sheets.
(2) Included in deferred contract revenue – current within the unaudited Condensed Consolidated Balance Sheets.
(3) Included in other liabilities within the unaudited Condensed Consolidated Balance Sheets.
For the three and six months ended June 30, 2026, the Company has recognized revenue of $9.9 million and $27.0 million related to the contract liabilities balance as of December 31, 2025, respectively.