Quarterly report [Sections 13 or 15(d)]

Contract Assets and Liabilities (Tables)

v3.25.2
Contract Assets and Liabilities (Tables)
9 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Costs and Estimated Earnings Compared to Billings on Uncompleted Contracts
Costs and estimated earnings compared to billings on uncompleted contracts at June 30, 2025 and September 30, 2024 consisted of the following (in thousands):
June 30, 2025 September 30, 2024
(unaudited)
Costs on uncompleted contracts $ 3,405,243  $ 2,224,511 
Estimated earnings to date on uncompleted contracts 412,813  271,719 
3,818,056  2,496,230 
Billings to date on uncompleted contracts (3,887,644) (2,590,329)
Net billings in excess of costs and estimated earnings on uncompleted contracts $ (69,588) $ (94,099)
Significant changes to balances of costs and estimated earnings in excess of billings (contract asset) and billings in excess of costs and estimated earnings (contract liability) on uncompleted contracts from September 30, 2023 to June 30, 2024 and September 30, 2024 to June 30, 2025 are presented below (in thousands):
Costs and Estimated Earnings in Excess of Billings on
 Uncompleted Contracts
Billings in Excess of Costs and Estimated Earnings on
 Uncompleted Contracts
Net Billings in Excess of Costs and Estimated Earnings on Uncompleted Contracts
September 30, 2023 $ 27,296  $ (78,905) $ (51,609)
Changes in revenue billed, contract price or cost estimates 5,254  (34,290) (29,036)
June 30, 2024 (unaudited) $ 32,550  $ (113,195) $ (80,645)
September 30, 2024 $ 25,966  $ (120,065) $ (94,099)
Changes in revenue billed, contract price or cost estimates 28,598  (4,087) 24,511 
June 30, 2025 (unaudited) $ 54,564  $ (124,152) $ (69,588)