Contracts with Customers (Tables) |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from Contract with Customer [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Disaggregation of Revenue | The Company’s contracts contain both fixed-price and cost reimbursable components. Contract types are based on the component that represents the majority of the contract. The following table presents revenue disaggregated by contract type (in thousands):
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| Summary of Contract Assets and Contract Liabilities | Contract assets and contract liabilities balances at September 30, 2026 and December 31, 2025 were as follows (in thousands):
(1) Contract assets includes $18.6 million and $0.0 million of assets held for sale as of September 30, 2026 and December 31, 2025, respectively, and is reported in assets held for sale on the consolidated balance sheets. Refer to contracts held for sale section below. (2) Contract liabilities includes $57.4 million and $0.0 million of liabilities held for sale as of September 30, 2026 and December 31, 2025, respectively, and is reported in liabilities held for sale on the consolidated balance sheets. Refer to contracts held for sale section below. (3)
Total contract retentions included in net contract assets (liabilities) were $110.2 million as of September 30, 2026, of which $53.5 million are not expected to be paid in the next 12 months. Total contract retentions included in net contract assets (liabilities) were $114.6 million as of December 31, 2025. Contract assets as of September 30, 2026 and December 31, 2025 include $58.9 million and $58.9 million, respectively, related to net claim recoveries. For the three and nine months ended September 30, 2026 and September 30, 2025, there were no material losses recognized related to the collectability of claims, unapproved change orders, and requests for equitable adjustment. |
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| Summary of Changes in Contract Assets and Contract Liabilities | Certain changes in contract assets and contract liabilities consisted of the following (in thousands):
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| Summary of Financial Statement Impact From Revisions in Estimates | The following table presents revisions in estimates, such as changes in estimated claims or incentives, related to performance obligations partially satisfied in previous periods that individually had an impact of $5 million or more on revenue. In certain instances, revisions in estimates do not exceed the threshold in any particular quarter but exceed the threshold on a year-to-date basis (in thousands):
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| Summary of Accounts Receivable, Net | Accounts receivable, net consisted of the following as of September 30, 2026 and December 31, 2025 (in thousands):
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| Summary of Remaining Unsatisfied Performance Obligations Expect to Satisfy | The Company expects to satisfy its RUPO as of September 30, 2026 over the following periods (in thousands):
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