2024 Q1 Form 10-K Financial Statement

#000087423824000032 Filed on February 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $440.4M $486.0M $1.972B
YoY Change 9.11% 66.66% 11.46%
Cost Of Revenue $363.5M $394.2M $1.635B
YoY Change 6.32% 76.32% 9.35%
Gross Profit $76.90M $91.76M $337.6M
YoY Change 24.56% 33.04% 22.97%
Gross Profit Margin 17.46% 18.88% 17.12%
Selling, General & Admin $27.30M $26.11M $98.70M
YoY Change 17.05% 93.16% 14.13%
% of Gross Profit 35.5% 28.46% 29.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.26M $14.87M $57.40M
YoY Change 18.74% 10.05% 10.25%
% of Gross Profit 21.14% 16.21% 17.0%
Operating Expenses $34.74M $35.47M $131.0M
YoY Change 20.11% 41.12% 15.02%
Operating Profit $42.13M $56.29M $205.8M
YoY Change 29.11% 51.96% 28.73%
Interest Expense -$762.0K -$991.0K -$15.18M
YoY Change -86.28% -82.65% -22.97%
% of Operating Profit -1.81% -1.76% -7.38%
Other Income/Expense, Net
YoY Change
Pretax Income $41.36M $54.78M $190.6M
YoY Change 52.78% 57.93% 35.99%
Income Tax $7.604M $12.34M $47.77M
% Of Pretax Income 18.38% 22.53% 25.06%
Net Earnings $31.05M $40.17M $138.7M
YoY Change 58.01% 26.63% 30.24%
Net Earnings / Revenue 7.05% 8.27% 7.03%
Basic Earnings Per Share $1.00 $4.51
Diluted Earnings Per Share $1.00 $1.27 $4.44
COMMON SHARES
Basic Shares Outstanding 30.93M shares 30.84M shares 30.76M shares
Diluted Shares Outstanding 31.19M shares 31.21M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $480.4M $471.6M $471.6M
YoY Change 137.15% 159.75% 159.75%
Cash & Equivalents $480.4M $471.6M $471.6M
Short-Term Investments
Other Short-Term Assets $17.88M $17.88M $17.88M
YoY Change 11.12% -38.66% -38.66%
Inventory
Prepaid Expenses
Receivables $362.3M $341.0M $341.0M
Other Receivables $18.22M $17.51M $17.51M
Total Short-Term Assets $878.9M $848.0M $848.0M
YoY Change 49.48% 41.98% 41.98%
LONG-TERM ASSETS
Property, Plant & Equipment $314.0M $300.9M $300.9M
YoY Change 13.14% 9.45% 9.45%
Goodwill $281.4M $281.1M
YoY Change 7.12% 7.01%
Intangibles $324.1M $328.4M
YoY Change 9.72% 9.79%
Long-Term Investments $0.00
YoY Change
Other Assets $19.20M $18.81M $18.81M
YoY Change 152.19% 145.73% 145.73%
Total Long-Term Assets $938.6M $929.2M $929.2M
YoY Change 11.32% 10.05% 10.05%
TOTAL ASSETS
Total Short-Term Assets $878.9M $848.0M $848.0M
Total Long-Term Assets $938.6M $929.2M $929.2M
Total Assets $1.817B $1.777B $1.777B
YoY Change 27.0% 23.28% 23.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $135.4M $146.0M $146.0M
YoY Change 13.37% 19.76% 19.76%
Accrued Expenses $38.97M $47.40M $47.40M
YoY Change 13.69% 8.09% 8.09%
Deferred Revenue $485.0M $444.2M
YoY Change 100.16% 85.61%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $26.47M $26.52M $26.52M
YoY Change -24.5% -18.68% -18.68%
Total Short-Term Liabilities $705.7M $678.2M $678.2M
YoY Change 58.7% 51.85% 51.85%
LONG-TERM LIABILITIES
Long-Term Debt $308.7M $315.0M $315.0M
YoY Change -15.55% -21.0% -21.0%
Other Long-Term Liabilities $17.26M $16.57M $83.40M
YoY Change 269.93% 223.94% 24.82%
Total Long-Term Liabilities $326.0M $331.6M $398.4M
YoY Change -11.95% -17.9% -14.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $705.7M $678.2M $678.2M
Total Long-Term Liabilities $326.0M $331.6M $398.4M
Total Liabilities $1.165B $1.153B $1.158B
YoY Change 24.91% 19.66% 19.78%
SHAREHOLDERS EQUITY
Retained Earnings $356.1M $325.0M
YoY Change 72.83% 74.39%
Common Stock $311.0K $309.0K
YoY Change 0.97% 0.98%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares
Shareholders Equity $644.6M $618.9M $618.9M
YoY Change
Total Liabilities & Shareholders Equity $1.817B $1.777B $1.777B
YoY Change 27.0% 23.28% 23.28%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $31.05M $40.17M $138.7M
YoY Change 58.01% 26.63% 30.24%
Depreciation, Depletion And Amortization $16.26M $14.87M $57.40M
YoY Change 18.74% 10.05% 10.25%
Cash From Operating Activities $49.59M $147.4M $478.6M
YoY Change 1.09% 66.58% 118.42%
INVESTING ACTIVITIES
Capital Expenditures $22.43M $15.14M $64.38M
YoY Change 57.74% 15.74% 5.7%
Acquisitions $1.016M $51.18M
YoY Change 184.25%
Other Investing Activities $1.385M -$46.98M -$23.37M
YoY Change -93.32% 62.81% -18.97%
Cash From Investing Activities -$21.05M -$62.12M -$87.75M
YoY Change -423.55% 48.13% -2.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $6.678M $93.49M
YoY Change -78.35% 300.0%
Cash From Financing Activities -$19.69M -23.09M -$104.5M
YoY Change -43.94% 52.13% 218.81%
NET CHANGE
Cash From Operating Activities $49.59M 147.4M $478.6M
Cash From Investing Activities -$21.05M -62.12M -$87.75M
Cash From Financing Activities -$19.69M -23.09M -$104.5M
Net Change In Cash $8.851M 62.16M $286.3M
YoY Change -56.68% 98.24% 196.46%
FREE CASH FLOW
Cash From Operating Activities $49.59M $147.4M $478.6M
Capital Expenditures $22.43M $15.14M $64.38M
Free Cash Flow $27.16M $132.2M $414.2M
YoY Change -22.04% 75.4% 161.81%

Facts In Submission

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<div style="margin-bottom:4pt;margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:60.672%"><tr><td style="width:1.0%"></td><td style="width:5.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:92.394%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NATURE OF OPERATIONS</span></td></tr></table></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Business Summary</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sterling Infrastructure, Inc., (“Sterling,” “the Company,” “we,” “our” or “us”), a Delaware corporation, operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and the Pacific Islands. E-Infrastructure Solutions provides advanced, large-scale site development services for manufacturing, data centers, e-commerce distribution centers, warehousing, power generation and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail and storm drainage systems. Building Solutions includes residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, other concrete work, and plumbing services for new single-family residential builds. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society’s quality of life. Caring for our people and our communities, our customers and our investors – that is The Sterling Way.</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 30, 2022, we completed the disposition of our 50% ownership interest in our partnership with Myers &amp; Sons Construction L.P. (“Myers”), which represented a strategic shift that had a major effect on our operations and consolidated financial results. Accordingly, the historical results of Myers have been presented as discontinued operations in our Consolidated Statements of Operations and Consolidated Balance Sheets. Prior to being disclosed as a discontinued operation, the results of Myers were included within our Transportation Solutions segment. The following footnotes reflect continuing operations only, unless otherwise indicated.</span></div>
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CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Estimates and Judgments—</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the accompanying Consolidated Financial Statements in conformance with GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Certain accounting estimates of the Company require a higher degree of judgment than others in their application. These include the recognition of revenue and earnings from construction contracts over time, the valuation of long-lived assets, goodwill and purchase accounting estimates. Management continually evaluates all of its estimates and judgments based on available information and experience; however, actual results could differ from these estimates.</span></div>
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2023Q4 strl Contract With Customer Retainage Asset Current
ContractWithCustomerRetainageAssetCurrent
56855000 usd
CY2022Q4 strl Contract With Customer Retainage Asset Current
ContractWithCustomerRetainageAssetCurrent
65682000 usd
CY2023Q4 strl Contract With Customer Retainage Liability Current
ContractWithCustomerRetainageLiabilityCurrent
86895000 usd
CY2022Q4 strl Contract With Customer Retainage Liability Current
ContractWithCustomerRetainageLiabilityCurrent
63848000 usd
CY2023Q4 strl Contracts Receivable Retainage Percentage Estimated To Be Collected In Next Fiscal Year
ContractsReceivableRetainagePercentageEstimatedToBeCollectedInNextFiscalYear
0.70
CY2023 strl Increase Decrease In Contract With Customer Retainage Asset
IncreaseDecreaseInContractWithCustomerRetainageAsset
-21203000 usd
CY2023 strl Increase Decrease In Contract With Customer Retainage Liability
IncreaseDecreaseInContractWithCustomerRetainageLiability
204863000 usd
CY2023 strl Contract With Customer Liability Revenue Recognized During The Period
ContractWithCustomerLiabilityRevenueRecognizedDuringThePeriod
194132000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
95883000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
14100000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
11464000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
17000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
16700000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
16700000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
16700000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
16700000 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2067016000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
56731000 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
192886000 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
156167000 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
13751000 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
9353000 usd
CY2022 strl Disposal Group Including Discontinued Operation Other Operating Income Expense Net
DisposalGroupIncludingDiscontinuedOperationOtherOperatingIncomeExpenseNet
3158000 usd
CY2021 strl Disposal Group Including Discontinued Operation Other Operating Income Expense Net
DisposalGroupIncludingDiscontinuedOperationOtherOperatingIncomeExpenseNet
-1596000 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-7345000 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
276000 usd
CY2022 strl Disposal Group Including Discontinued Operation Gain Loss On Extinguishment Of Debt
DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt
2428000 usd
CY2021 strl Disposal Group Including Discontinued Operation Gain Loss On Extinguishment Of Debt
DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt
968000 usd
CY2022 strl Discontinued Operation Income Loss From Discontinued Operation Before Income Tax And Gain On Disposition
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTaxAndGainOnDisposition
-4848000 usd
CY2021 strl Discontinued Operation Income Loss From Discontinued Operation Before Income Tax And Gain On Disposition
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTaxAndGainOnDisposition
1214000 usd
CY2022 us-gaap Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax
16687000 usd
CY2021 us-gaap Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax
0 usd
CY2022 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
2095000 usd
CY2021 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
26000 usd
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
9744000 usd
CY2021 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
1188000 usd
CY2023Q4 strl Consolidated Entities Ownership Percentage
ConsolidatedEntitiesOwnershipPercentage
0.50
CY2023Q4 strl Consolidated Entities Ownership Percentage
ConsolidatedEntitiesOwnershipPercentage
0.50
CY2023Q4 strl Consolidated Entities Ownership Percentage
ConsolidatedEntitiesOwnershipPercentage
0.50
CY2023Q4 strl Death And Disability Insurance Policies Per Policy Amount
DeathAndDisabilityInsurancePoliciesPerPolicyAmount
20000000 usd
CY2023Q4 strl Members Interest Subject To Mandatory Redemption
MembersInterestSubjectToMandatoryRedemption
20000000 usd
CY2022Q4 strl Members Interest Subject To Mandatory Redemption
MembersInterestSubjectToMandatoryRedemption
20000000 usd
CY2023Q4 strl Undistributed Earnings Of Domestic Subsidiaries Net
UndistributedEarningsOfDomesticSubsidiariesNet
9108000 usd
CY2022Q4 strl Undistributed Earnings Of Domestic Subsidiaries Net
UndistributedEarningsOfDomesticSubsidiariesNet
1597000 usd
CY2023Q4 strl Members Interest Subject To Mandatory Redemption And Undistributed Earnings
MembersInterestSubjectToMandatoryRedemptionAndUndistributedEarnings
29108000 usd
CY2022Q4 strl Members Interest Subject To Mandatory Redemption And Undistributed Earnings
MembersInterestSubjectToMandatoryRedemptionAndUndistributedEarnings
21597000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
41707000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
1232000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
1056000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
779000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
423000 usd
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
195000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
148000 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
498000 usd
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
433644000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
372901000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
189996000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
157419000 usd
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
243648000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
215482000 usd
CY2023 us-gaap Depreciation
Depreciation
42177000 usd
CY2022 us-gaap Depreciation
Depreciation
36475000 usd
CY2021 us-gaap Depreciation
Depreciation
21039000 usd
CY2021 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 usd
CY2023 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 usd
CY2022 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 usd
CY2023Q4 us-gaap Goodwill
Goodwill
281117000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
262692000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
281117000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
262692000 usd
CY2023 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P24Y
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
76000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
693000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
224000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y8M12D
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
344281000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
434564000 usd
CY2023Q4 strl Longterm Debt Current Maturities Gross
LongtermDebtCurrentMaturitiesGross
26520000 usd
CY2022Q4 strl Longterm Debt Current Maturities Gross
LongtermDebtCurrentMaturitiesGross
32610000 usd
CY2023Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
2765000 usd
CY2022Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3219000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
314996000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
398735000 usd
CY2023 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2026000 usd
CY2022 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2160000 usd
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2242000 usd
CY2023 strl Lessee Lease Expiration Period
LesseeLeaseExpirationPeriod
P10Y
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
21775000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
16768000 usd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
16864000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
14092000 usd
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
195000 usd
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
148000 usd
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
17000 usd
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
13000 usd
CY2023 us-gaap Lease Cost
LeaseCost
212000 usd
CY2022 us-gaap Lease Cost
LeaseCost
161000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
20882000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
16701000 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
17000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
13000 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
195000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
148000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
16127000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
59461000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
664000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
57235000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
59415000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
19641000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
19715000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
37722000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
40103000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
57363000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
59818000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
2011000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
1479000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M24D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.058
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.056
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.066
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.043
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24874000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
21918000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
235000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
19322000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
158000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
12864000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
157000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3137000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
157000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1609000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
92000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
5079000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
63929000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
799000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6566000 usd
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
106000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
57363000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
693000 usd
CY2023 strl Self Insurance Workers Compensation Claims Amount Per Occurrence
SelfInsuranceWorkersCompensationClaimsAmountPerOccurrence
250000 usd
CY2023 strl General Liability And Workers Compensation Claim Per Occurrence That Would Affect Ultimate Liability
GeneralLiabilityAndWorkersCompensationClaimPerOccurrenceThatWouldAffectUltimateLiability
100000 usd
CY2023 strl Self Insurance General Liability Amount Per Occurrence
SelfInsuranceGeneralLiabilityAmountPerOccurrence
5900000 usd
CY2023Q4 strl Commercial Insurance Coverage
CommercialInsuranceCoverage
75000000 usd
CY2023Q4 strl Consolidated Entities Ownership Percentage
ConsolidatedEntitiesOwnershipPercentage
0.50
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
33024000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
9221000 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
3512000 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
14746000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
32486000 usd
CY2022Q4 strl Deferred Tax Assets Right Of Use Liability
DeferredTaxAssetsRightOfUseLiability
15259000 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
40029000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
29435000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
18650000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
8374000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.044
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
11064000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.079
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
5579000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.063
CY2023 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
880000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
EffectiveIncomeTaxRateReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
0.005
CY2022 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
366000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
EffectiveIncomeTaxRateReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
0.003
CY2021 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
521000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
EffectiveIncomeTaxRateReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
0.006
CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
8000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
1366000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.010
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
1698000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.019
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
239000 usd
CY2023 strl Effective Income Tax Rate Reconciliation Other Permanent Differences
EffectiveIncomeTaxRateReconciliationOtherPermanentDifferences
0.001
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
208000 usd
CY2022 strl Effective Income Tax Rate Reconciliation Other Permanent Differences
EffectiveIncomeTaxRateReconciliationOtherPermanentDifferences
0.001
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-532000 usd
CY2021 strl Effective Income Tax Rate Reconciliation Other Permanent Differences
EffectiveIncomeTaxRateReconciliationOtherPermanentDifferences
-0.006
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
47770000 usd
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.251
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
41707000 usd
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.298
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24874000 usd
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.280
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits
3780000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits
3287000 usd
CY2023Q4 strl Deferred Tax Assets Noncontrolling Interest
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