Partnerships and Joint Ventures	6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]
Partnerships and Joint Ventures	Partnerships and Joint Ventures Many of our partnership and joint venture agreements provide for capital calls to fund operations, as necessary. Investments in a loss position of $54 million were included in other accrued liabilities as of both June 30, 2026 and December 31, 2025 and consisted primarily of a provision for anticipated losses on a legacy infrastructure project and an Energy Solutions joint venture. Accounts receivable related to work performed for unconsolidated partnerships and joint ventures included in “Accounts receivable, net” was $248 million and $219 million as of June 30, 2026 and December 31, 2025, respectively. During the 2026 Period, we sold our ownership interest in CFHI for proceeds of $124 million. We recognized a gain of $124 million upon the sale as the investment had previously been fully impaired. In July 2026, we sold our ownership interest in our joint venture in Mexico for $175 million, resulting in an estimated third quarter pre-tax book gain of $90 million and an estimated tax liability of $33 million, which we funded during August 2026. Variable Interest Entities The aggregate carrying value of unconsolidated VIEs (classified under both "Investments” and “Other accrued liabilities”) was a net asset of $458 million and $425 million as of June 30, 2026 and December 31, 2025, respectively. Some of our VIEs have debt which is non-recourse to us. Our maximum exposure to loss as a result of our investments in unconsolidated VIEs is typically limited to the aggregate of the carrying value of the investment and future funding necessary to satisfy the contractual obligations of the VIE. Future funding commitments as of June 30, 2026 for the unconsolidated VIEs were $26 million. We are required to consolidate certain VIEs. Assets and liabilities associated with the operations of our consolidated VIEs are presented on the balance sheet. The assets of a VIE are restricted for use only for the particular VIE and are not available for our general operations. We have agreements with certain VIEs to provide financial or performance assurances to clients, as discussed elsewhere.

Many of our partnership and joint venture agreements provide for capital calls to fund operations, as necessary. Investments in a loss position of $54 million were included in other accrued liabilities as of both June 30, 2026 and

December 31, 2025 and consisted primarily of a provision for anticipated losses on a legacy infrastructure project and an Energy Solutions joint venture. Accounts receivable related to work performed for unconsolidated partnerships and joint ventures included in “Accounts receivable, net” was $248 million and $219 million as of June 30, 2026 and December 31, 2025, respectively.

During the 2026 Period, we sold our ownership interest in CFHI for proceeds of $124 million. We recognized a gain of $124 million upon the sale as the investment had previously been fully impaired.

In July 2026, we sold our ownership interest in our joint venture in Mexico for $175 million, resulting in an estimated third quarter pre-tax book gain of $90 million and an estimated tax liability of $33 million, which we funded during August 2026.

The aggregate carrying value of unconsolidated VIEs (classified under both "Investments” and “Other accrued liabilities”) was a net asset of $458 million and $425 million as of June 30, 2026 and December 31, 2025, respectively. Some of our VIEs have debt which is non-recourse to us. Our maximum exposure to loss as a result of our investments in unconsolidated VIEs is typically limited to the aggregate of the carrying value of the investment and future funding necessary to satisfy the contractual obligations of the VIE. Future funding commitments as of June 30, 2026 for the unconsolidated VIEs were $26 million.

We are required to consolidate certain VIEs. Assets and liabilities associated with the operations of our consolidated VIEs are presented on the balance sheet. The assets of a VIE are restricted for use only for the particular VIE and are not available for our general operations. We have agreements with certain VIEs to provide financial or performance assurances to clients, as discussed elsewhere.