Company: EME
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000105634-25-000029
Chunk: 16

Company: EMCOR Group, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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ITEM 1. FINANCIAL STATEMENTS.

EMCOR Group, Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share data)

(Unaudited)March 31,2025December 31,2024ASSETSCurrent assets:Cash and cash equivalents$576,702 $1,339,550 Accounts receivable, less allowance for credit losses of $25,001 and $34,957, respectively3,808,216 3,577,537 Contract assets329,343 284,791 Inventories94,132 95,667 Prepaid expenses and other102,591 91,644 Total current assets4,910,984 5,389,189 Property, plant, and equipment, net228,982 207,489 Operating lease right-of-use assets358,703 316,128 Goodwill1,336,557 1,018,415 Identifiable intangible assets, net1,096,817 648,180 Other assets146,829 137,072 Total assets$8,078,872 $7,716,473 LIABILITIES AND EQUITYCurrent liabilities:Accounts payable$1,041,245 $937,087 Contract liabilities2,062,425 2,047,540 Accrued payroll and benefits600,561 751,434 Other accrued expenses and liabilities430,321 336,555 Operating lease liabilities, current87,710 81,247 Total current liabilities4,222,262 4,153,863 Borrowings under revolving credit facility250,000 — Operating lease liabilities, long-term297,856 261,575 Other long-term obligations356,826 362,341 Total liabilities5,126,944 4,777,779 Equity:EMCOR Group, Inc. stockholders’ equity:Preferred stock, $0.10 par value, 1,000,000 shares authorized, zero issued and outstanding— — Common stock, $0.01 par value, 200,000,000 shares authorized, 61,238,363 and 61,186,088 shares issued, respectively612 612 Capital surplus93,424 97,475 Accumulated other comprehensive loss(79,708)(85,527)Retained earnings5,007,257 4,778,