v3.26.1
Contract Assets and Liabilities (Tables)
6 Months Ended
Jun. 30, 2026
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, 2026December 31, 2025
Costs in excess of billings and estimated earnings$115,146 $73,079 
Contract retention168,045 163,800 
Total contract assets$283,191 $236,879 
The components of the contract liability balances as of the respective dates were as follows:
(in thousands)June 30, 2026December 31, 2025
Billings in excess of costs and estimated earnings, net of retention$435,251 $320,593 
Provisions for losses5,113 6,779 
Total contract liabilities$440,364 $327,372