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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2019	Jul. 26, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Registrant Name	MYR GROUP INC.
Entity Central Index Key	0000700923
Current Fiscal Year End Date	--12-31
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		16,643,675
Trading Symbol	MYRG
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes

UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 4,355	$ 7,507
Accounts receivable, net of allowances of $4,517 and $1,331, respectively	313,455	288,427
Contract assets	174,805	160,281
Current portion of receivable for insurance claims in excess of deductibles	10,083	10,572
Other current assets	10,681	8,847
Total current assets	513,379	475,634
Property and equipment, net of accumulated depreciation of $265,636 and $253,495, respectively	168,972	161,892
Operating lease right-of-use assets	14,130	0
Goodwill	56,596	56,588
Intangible assets, net of accumulated amortization of $8,500 and $7,031, respectively	31,818	33,266
Receivable for insurance claims in excess of deductibles	17,094	17,173
Investment in joint ventures	2,222	1,324
Other assets	2,484	2,878
Total assets	806,695	748,755
Current liabilities:
Current portion of long-term debt	6,856	3,681
Current portion of operating lease obligations	3,817	0
Current portion of finance lease obligations	1,135	1,119
Accounts payable	166,350	139,480
Contract liabilities	53,581	58,534
Current portion of accrued self-insurance	19,692	19,633
Other current liabilities	52,669	61,358
Total current liabilities	304,100	283,805
Deferred income tax liabilities	17,359	17,398
Long-term debt	99,623	86,111
Accrued self-insurance	33,664	34,406
Operating lease obligations, net of current maturities	10,456	0
Finance lease obligations, net of current maturities	923	1,514
Other liabilities	1,633	1,057
Total liabilities	467,758	424,291
Commitments and contingencies
Stockholders' equity:
Preferred stock—$0.01 par value per share; 4,000,000 authorized shares; none issued and outstanding at June 30, 2019 and December 31, 2018	0	0
Common stock—$0.01 par value per share; 100,000,000 authorized shares; 16,644,459 and 16,564,961 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	166	165
Additional paid-in capital	150,177	148,276
Accumulated other comprehensive loss	(393)	(193)
Retained earnings	189,089	174,736
Total stockholders' equity attributable to MYR Group Inc.	339,039	322,984
Noncontrolling interest	(102)	1,480
Total stockholders' equity	338,937	324,464
Total liabilities and stockholders' equity	$ 806,695	$ 748,755

UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Allowance for doubtful accounts receivable	$ 4,517	$ 1,331
Property and equipment, accumulated depreciation	265,636	253,495
Intangible assets, accumulated amortization	$ 8,500	$ 7,031
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	4,000,000	4,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	16,644,459	16,564,961
Common stock, shares outstanding (in shares)	16,644,459	16,564,961

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Contract revenues	$ 448,776	$ 339,676	$ 916,870	$ 685,287
Contract costs	405,613	301,046	830,831	610,904
Gross profit	43,163	38,630	86,039	74,383
Selling, general and administrative expenses	33,944	29,168	66,931	57,448
Amortization of intangible assets	735	119	1,469	236
Gain on sale of property and equipment	(926)	(1,014)	(1,397)	(2,065)
Income from operations	9,410	10,357	19,036	18,764
Other income (expense):
Interest expense	(1,168)	(783)	(2,373)	(1,504)
Other income, net	582	25	1,328	274
Income before provision for income taxes	8,824	9,599	17,991	17,534
Income tax expense	2,466	2,764	5,013	5,055
Net income	6,358	6,835	12,978	12,479
Less: net loss attributable to noncontrolling interest	(849)	0	(1,582)	0
Net income attributable to MYR Group Inc.	$ 7,207	$ 6,835	$ 14,560	$ 12,479
Income per common share attributable to MYR Group Inc.:
- Basic (in dollars per share)	$ 0.43	$ 0.42	$ 0.88	$ 0.76
- Diluted (in dollars per share)	$ 0.43	$ 0.41	$ 0.87	$ 0.75
Weighted average number of common shares and potential common shares outstanding:
- Basic (in shares)	16,600	16,455	16,557	16,388
- Diluted (in shares)	16,704	16,592	16,682	16,555
Net income	$ 6,358	$ 6,835	$ 12,978	$ 12,479
Other comprehensive income (loss):
Foreign currency translation adjustment	(123)	16	(200)	(1)
Other comprehensive income (loss)	(123)	16	(200)	(1)
Total comprehensive income	6,235	6,851	12,778	12,478
Less: net loss attributable to noncontrolling interest	(849)	0	(1,582)	0
Total comprehensive income attributable to MYR Group Inc.	$ 7,084	$ 6,851	$ 14,360	$ 12,478

UNAUDITED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (loss) [Member]	Retained Earnings [Member]	MYR Group Inc. Stockholders' Equity [Member]	Noncontrolling Interest [Member]
Balance at Dec. 31, 2017	$ 287,039	$ 0	$ 163	$ 143,934	$ (299)	$ 143,241	$ 287,039	$ 0
Balance (in shares) at Dec. 31, 2017			16,465
Net income	5,644					5,644	5,644
Adjustment to adopt ASU No. 2016-09 at Mar. 31, 2018	695					695	695
Stock issued under compensation plans, net	581		$ 1	580			581
Stock issued under compensation plans, net (in shares)			57
Stock-based compensation expense	420			420			420
Shares repurchased	(934)			(674)		(260)	(934)
Shares repurchased (in shares)			(30)
Other comprehensive income	(17)				(17)		(17)
Balance at Mar. 31, 2018	293,428	0	$ 164	144,260	(316)	149,320	293,428	0
Balance (in shares) at Mar. 31, 2018			16,492
Balance at Dec. 31, 2017	287,039	0	$ 163	143,934	(299)	143,241	287,039	0
Balance (in shares) at Dec. 31, 2017			16,465
Net income	12,479
Other comprehensive income	(1)
Balance at Jun. 30, 2018	302,626	0	$ 165	146,610	(300)	156,151	302,626	0
Balance (in shares) at Jun. 30, 2018			16,565
Balance at Mar. 31, 2018	293,428	0	$ 164	144,260	(316)	149,320	293,428	0
Balance (in shares) at Mar. 31, 2018			16,492
Net income	6,835					6,835	6,835
Stock issued under compensation plans, net	1,306		$ 1	1,305			1,306
Stock issued under compensation plans, net (in shares)			74
Stock-based compensation expense	1,058			1,058			1,058
Shares repurchased	(17)			(13)		(4)	(17)
Shares repurchased (in shares)			(1)
Other comprehensive income	16				16		16
Balance at Jun. 30, 2018	302,626	0	$ 165	146,610	(300)	156,151	302,626	0
Balance (in shares) at Jun. 30, 2018			16,565
Balance at Dec. 31, 2018	324,464	0	$ 165	148,276	(193)	174,736	322,984	1,480
Balance (in shares) at Dec. 31, 2018			16,565
Net income	6,620					7,353	7,353	(733)
Stock issued under compensation plans, net	282			282			282
Stock issued under compensation plans, net (in shares)			68
Stock-based compensation expense	951			951			951
Shares repurchased	(778)			(571)		(207)	(778)
Shares repurchased (in shares)			(23)
Other comprehensive income	(77)				(77)		(77)
Stock issued - other	12		$ 12				12
Stock issued - other (in shares)			0
Balance at Mar. 31, 2019	331,474	0	$ 177	148,938	(270)	181,882	330,727	747
Balance (in shares) at Mar. 31, 2019			16,610
Balance at Dec. 31, 2018	324,464	0	$ 165	148,276	(193)	174,736	322,984	1,480
Balance (in shares) at Dec. 31, 2018			16,565
Net income	12,978
Other comprehensive income	(200)
Balance at Jun. 30, 2019	338,937	0	$ 166	150,177	(393)	189,089	339,039	(102)
Balance (in shares) at Jun. 30, 2019			16,644
Balance at Mar. 31, 2019	331,474	0	$ 177	148,938	(270)	181,882	330,727	747
Balance (in shares) at Mar. 31, 2019			16,610
Net income	6,358					7,207	7,207	(849)
Stock issued under compensation plans, net	2		$ 1	1			2
Stock issued under compensation plans, net (in shares)			33
Stock-based compensation expense	1,202			1,202			1,202
Other comprehensive income	(123)				(123)		(123)
Stock issued - other	24		$ (12)	36			24
Stock issued - other (in shares)			1
Balance at Jun. 30, 2019	$ 338,937	$ 0	$ 166	$ 150,177	$ (393)	$ 189,089	$ 339,039	$ (102)
Balance (in shares) at Jun. 30, 2019			16,644

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 12,978	$ 12,479
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization of property and equipment	19,714	18,590
Amortization of intangible assets	1,469	236
Stock-based compensation expense	2,153	1,478
Deferred income taxes	23	323
Gain on sale of property and equipment	(1,397)	(2,065)
Other non-cash items	783	354
Changes in operating assets and liabilities:
Accounts receivable, net	(24,468)	7,071
Contract assets	(14,218)	(14,471)
Receivable for insurance claims in excess of deductibles	568	(330)
Other assets	(3,552)	2,144
Accounts payable	27,242	(9,845)
Contract liabilities	(5,035)	17,551
Accrued self insurance	(692)	(239)
Other liabilities	(8,169)	11,990
Net cash flows provided by operating activities	7,399	45,266
Cash flows from investing activities:
Proceeds from sale of property and equipment	1,658	2,426
Purchases of property and equipment	(27,961)	(28,019)
Net cash flows used in investing activities	(26,303)	(25,593)
Cash flows from financing activities:
Net repayments under revolving lines of credit	(5,896)	(21,156)
Borrowings under equipment notes	24,038	0
Payment of principal obligations under equipment notes	(1,455)	0
Payment of principal obligations under finance leases	(575)	(545)
Proceeds from exercise of stock options	284	1,887
Repurchase of common shares	(778)	(951)
Other financing activities	36	10
Net cash flows provided by (used in) financing activities	15,654	(20,755)
Effect of exchange rate changes on cash	98	(58)
Net decrease in cash and cash equivalents	(3,152)	(1,140)
Cash and cash equivalents:
Beginning of period	7,507	5,343
End of period	$ 4,355	$ 4,203

Organization, Business and Basis of Presentation

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Business and Basis of Presentation

1. Organization, Business and Basis of Presentation

Organization and Business

MYR Group Inc. (the “Company”) is a holding company of specialty electrical construction service providers and conducts operations through its wholly owned subsidiaries, including: The L. E. Myers Co., a Delaware corporation; Harlan Electric Company, a Michigan corporation; Great Southwestern Construction, Inc., a Colorado corporation; Sturgeon Electric Company, Inc., a Michigan corporation; MYR Transmission Services, Inc., a Delaware corporation; E.S. Boulos Company, a Delaware corporation; High Country Line Construction, Inc., a Nevada corporation; Sturgeon Electric California, LLC, a Delaware limited liability company; GSW Integrated Services, LLC, a Delaware limited liability company; Huen Electric, Inc., a Delaware corporation; MYR Transmission Services Canada, Ltd., a British Columbia corporation; Northern Transmission Services, Ltd., a British Columbia corporation and Western Pacific Enterprises Ltd., a British Columbia corporation.

The Company performs construction services in two business segments: Transmission and Distribution (“T&D”), and Commercial and Industrial (“C&I”). T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. T&D provides a broad range of services, which include design, engineering, procurement, construction, upgrade, maintenance and repair services, with a particular focus on construction, maintenance and repair. C&I customers include general contractors, commercial and industrial facility owners, local governments and developers. C&I provides a broad range of services, which include the design, installation, maintenance and repair of commercial and industrial wiring, the installation of traffic networks and the installation of bridge, roadway and tunnel lighting.

Basis of Presentation

Interim Consolidated Financial Information

The accompanying unaudited consolidated financial statements of the Company were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial reporting pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The Company believes that the disclosures made are adequate to make the information presented not misleading. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary to fairly state the financial position, results of operations, comprehensive income, stockholders’ equity and cash flows with respect to the interim consolidated financial statements, have been included. Certain reclassifications were made to prior year amounts to conform to the current year presentation. The consolidated balance sheet as of December 31, 2018 has been derived from the audited financial statements as of that date. The results of operations and comprehensive income are not necessarily indicative of the results for the full year or the results for any future periods. These financial statements should be read in conjunction with the audited financial statements and related notes for the year ended December 31, 2018, included in the Company’s Annual Report on Form 10-K, which was filed with the SEC on March 6, 2019.

Foreign Currency

The functional currency for the Company’s Canadian operations is the Canadian dollar. Assets and liabilities denominated in Canadian dollars are translated into U.S. dollars at the end-of-period exchange rate. Revenues and expenses are translated using average exchange rates for the periods reported. Equity accounts are translated at historical rates. Cumulative translation adjustments are included as a separate component of accumulated other comprehensive income in shareholders’ equity. Foreign currency transaction gains and losses, arising primarily from changes in exchange rates on short-term monetary assets and liabilities, and ineffective long-term monetary assets and liabilities are recorded in the “other income, net” line on the consolidated statements of operations. Foreign currency gains, recorded in other income, net, for the six months ended June 30, 2019 were $0.1 million. Foreign currency losses, recorded in other income, net, for the six months ended June 30, 2018 were not significant. Effective foreign currency transaction gains and losses, arising primarily from long-term monetary assets and liabilities, are recorded in the foreign currency translation adjustment line on the consolidated statements of comprehensive income.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. Actual results could differ from those estimates.

The most significant estimates are related to estimates of costs to complete contracts, pending change orders and claims, shared savings, insurance reserves, income tax reserves, estimates surrounding stock-based compensation, the recoverability of goodwill and intangibles and accounts receivable reserves. The Company estimates a cost accrual every quarter that represents costs incurred but not invoiced for services performed or goods delivered during the period, and estimates revenue from the contract cost portion of this accrual based on current gross margin rates to be consistent with its cost method of revenue recognition.

In the six months ended June 30, 2019 and 2018, the Company recognized revenues of $21.4 million and $6.7 million, respectively, related to significant change orders and/or claims that had been included as contract price adjustments on certain contracts which were in the process of being negotiated in the normal course of business.

The cost-to-cost method of accounting requires the Company to make estimates about the expected revenue and gross profit on each of its contracts in process. During the three months ended June 30, 2019, changes in estimates pertaining to certain projects decreased consolidated gross margin by 0.9%, which resulted in decreases in operating income of $4.2 million, net income attributable to MYR Group Inc. of $1.9 million and diluted earnings per common share attributable to MYR Group Inc. of $0.11. During the six months ended June 30, 2019, changes in estimates pertaining to certain projects decreased consolidated gross margin by 1.0%, which resulted in decreases in operating income of $9.1 million, net income attributable to MYR Group Inc. of $4.2 million and diluted earnings per common share attributable to MYR Group Inc. of $0.25.

During the three months ended June 30, 2018, changes in estimates pertaining to certain projects increased consolidated gross margin by 0.1%, which resulted in increases in operating income of $0.2 million, net income attributable to MYR Group Inc. of $0.2 million and diluted earnings per common share attributable to MYR Group Inc of $0.01. During the six months ended June 30, 2018, changes in estimates pertaining to certain projects increased consolidated gross margin by 0.1%, which resulted in increases in operating income of $0.1 million, net income attributable to MYR Group Inc. of $0.1

million and had an insignificant impact on diluted earnings per common share attributable to MYR Group Inc.

Recent Accounting Pronouncements

Changes to U.S. GAAP are typically established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification (“ASC”). The Company considers the applicability and impact of all ASUs. The Company, based on its assessment, determined that any recently issued or proposed ASUs not listed below are either not applicable to the Company or adoption will have minimal impact on its consolidated financial statements

Recently Adopted Accounting Pronouncements

In February 2016, the FASB issued ASU No. 2016-02,

Leases (Topic 842)

. The amendments under this pronouncement changed the way all leases with durations in excess of one year are treated. Under this guidance, lessees are required to recognize virtually all leases on the balance sheet as a right-of-use asset and an associated finance lease liability or operating lease liability. The right-of-use asset represents the lessee’s right to use, or control the use of, a specified asset for the specified lease term. The lease liability represents the lessee’s obligation to make lease payments arising from the lease, measured on a discounted basis. Based on certain characteristics, leases are classified as finance leases or operating leases. Finance lease liabilities, which contain provisions similar to capitalized leases under the prior accounting standards, are amortized as amortization expense and interest expense in the statement of operations. Operating lease liabilities and right-of-use assets are adjusted to result in a single straight-line lease expense over the life of the lease. On January 1, 2019, the Company adopted ASU No. 2016-02

, Leases (Topic 842)

using the modified retrospective method. The modified retrospective basis provides a method for recording existing leases at adoption and in comparative periods that approximates the results of a full retrospective approach using the cumulative-effect approach for recording the transition adjustment as of the effective date. Financial results reported in prior periods are unchanged. See Note 4–Lease Obligations for further information related to the Company’s accounting policy and transition disclosures associated with the adoption of this pronouncement.

Recently Issued Accounting Pronouncements

In January 2017, the FASB issued ASU No. 2017-04,

Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

, which simplifies the subsequent measurement of goodwill, through the elimination of Step 2 from the goodwill impairment test. Instead, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The update is effective for any annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The guidance requires application on a prospective basis. The Company does not expect that this pronouncement will have a significant impact on its financial statements.

Acquisition

6 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Acquisition

2. Acquisition

On July 2, 2018, the Company completed the acquisition of substantially all the assets of Huen Electric, Inc., an electrical contracting firm based in Illinois, Huen Electric New Jersey Inc., an electrical contracting firm based in New Jersey, and Huen New York, Inc., an electrical contracting firm based in New York (collectively, the “Huen Companies”). The Huen Companies provide a wide range of commercial and industrial electrical construction capabilities under the Company’s C&I segment in Illinois, New Jersey and New York. The total consideration after net asset adjustments of $10.8 million was approximately $57.9 million, which was funded through borrowings under the Company’s credit facility. The Company has finalized the purchase price accounting relating to the acquisition of the Huen Companies. All goodwill and identifiable intangible assets are expected to be tax deductible per applicable Internal Revenue Service regulations.

The purchase agreement also included contingent consideration provisions for margin guarantee adjustments based upon performance subsequent to the acquisition on certain contracts. The contracts were valued at fair value at the acquisition date, causing no margin guarantee estimate or adjustments for fair value. Changes in contract estimates, such as modified costs to complete or change order recognition, have resulted and will continue to result in changes to these margin guarantee estimates. Changes in contingent consideration, subsequent to the acquisition, related to the margin guarantee adjustments on certain contracts of approximately $0.6 million and $1.4 million were recorded in other income for the three and six months ended June 30, 2019, respectively. Future margin guarantee adjustments, if any, are expected to be recognized in 2019. The Company could also be required to make compensation payments contingent on the successful achievement of certain performance targets and continued employment of certain key executives of the Huen Companies. These payments are recognized as compensation expense in the consolidated statements of operations as incurred. For the three and six months ended June 30, 2019, the Company recognized $0.3 million and $0.6 million, respectively, of compensation expense associated with these contingent payments.

The following table summarizes the allocation of the opening balance sheet from the date of the Huen Companies acquisition through June 30, 2019:

(in thousands)	(as of acquisition date) July 2, 2018			Measurement Period Adjustments			Adjusted acquisition amounts as of June 30, 2019

Consideration paid	$	47,082		$	—		$	47,082
Preliminary estimated net asset adjustments		10,749			85			10,834
Total consideration, net of net asset adjustments	$	57,831		$	85		$	57,916

Accounts receivable, net	$	33,903		$	(207	)	$	33,696
Contract assets		10,570			1,010			11,580
Other current and long term assets		88			(11	)		77
Property and equipment		3,188			—			3,188
Intangible assets		—			24,300			24,300
Accounts payable		(9,592	)		(1,274	)		(10,866	)
Contract liabilities		(6,394	)		525			(5,869	)
Other current liabilities		(6,570	)		49			(6,521	)
Net identifiable assets and liabilities		25,193			24,392			49,585
Unallocated intangible assets		9,800			(9,800	)		—
Total acquired assets and liabilities		34,993			14,592			49,585
Fair value of acquired noncontrolling interest		(1,273	)		(7	)		(1,280	)
Goodwill	$	24,111		$	(14,500	)	$	9,611

Contract Assets and Liabilities

6 Months Ended

Jun. 30, 2019

Contractors [Abstract]

Contract Assets and Liabilities

3. Contract Assets and Liabilities

Contracts with customers usually stipulate the timing of payment, which is defined by the terms found within the various contracts under which work was performed during the period. Therefore, contract assets and liabilities are created when the timing of costs incurred on work performed does not coincide with the billing terms, which frequently include retention provisions contained in each contract.

The Company’s consolidated balance sheets present contract assets which contain unbilled revenue and contract retainages associated with contract work that has been completed and billed but not paid by customers, pursuant to retainage provisions, that are generally due once the job is completed and approved. The allowance for collection of contract retainage was not significant as of June 30, 2019 and 2018.

Contract assets consisted of the following:

	June 30,		December 31,
(in thousands)	2019		2018		Change

Unbilled revenue	$	109,287	$	111,153	$	(1,866	)
Contract retainages, net		65,518		49,128		16,390
Contract assets	$	174,805	$	160,281	$	14,524

The Company’s consolidated balance sheets present contract liabilities which contain deferred revenue and an accrual for contracts in a loss provision.

Contract liabilities consisted of the following:

	June 30,		December 31,
(in thousands)	2019		2018		Change

Deferred revenue	$	52,364	$	57,051	$	(4,687	)
Accrued loss provision		1,217		1,483		(266	)
Contract liabilities	$	53,581	$	58,534	$	(4,953	)

The following table provides information about contract assets and contract liabilities from contracts with customers:

	June 30,			December 31,
(in thousands)	2019			2018			Change

Contract assets	$	174,805		$	160,281		$	14,524
Contract liabilities		(53,581	)		(58,534	)		4,953
Net contract assets (liabilities)	$	121,224		$	101,747		$	19,477

The difference between the opening and closing balances of the Company’s contract assets and contract liabilities primarily results from the timing of the Company’s billings in relation to its performance of work. The amounts of revenue recognized in the period that were included in the opening contract liability balances were $4.4 million and $32.8

million for the three and six months ended June 30, 2019, respectively. The Company did not recognize any revenue that was included in the opening contract balance during the three months ended June 30, 2018 and recognized

$16.2

million for the six months ended June 30, 2018. This revenue consists primarily of work performed on previous billings to customers.

The net asset position for contracts in process consisted of the following:

	June 30,		December 31,
(in thousands)	2019		2018

Costs and estimated earnings on uncompleted contracts	$	2,686,781	$	2,718,713
Less: billings to date		2,629,858		2,664,611
	$	56,923	$	54,102

The net asset position for contracts in process is included within the contract asset and contract liability in the accompanying consolidated balance sheets as follows:

	June 30,			December 31,
(in thousands)	2019			2018

Unbilled revenue	$	109,287		$	111,153
Deferred revenue		(52,364	)		(57,051	)
	$	56,923		$	54,102

Lease Obligations

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lease Obligations

4. Lease Obligations

Change in Accounting Policy

On January 1, 2019, the Company adopted ASU No. 2016-02,

Leases (Topic 842)

using the modified retrospective method. Under this guidance, the net present value of future lease payments are recorded as right-of-use assets and liabilities. In addition, the Company elected the ‘package of practical expedients’ permitted under the transition guidance within the new standard, which among other things, allowed the Company to carry forward the historical lease classification. In addition, the Company elected not to utilize the hindsight practical expedient to determine the lease term for existing leases. The Company elected the short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, the Company did not recognize right-of-use assets or lease liabilities, including not recognizing right-of-use assets or lease liabilities for existing short-term leases of those assets in transition. The Company also elected the practical expedient to not separate lease and non-lease components for our real estate and vehicle leases. Adoption of the new standard resulted in the recording of additional operating right-of-use assets and operating lease liabilities of approximately $15.1 million, as of January 1, 2019. The adoption of Topic 842 did not impact the Company’s retained earnings, consolidated net earnings or cash flows.

The Company enters into non-cancelable leases for some of our facility, vehicle and equipment needs. These leases allow the Company to conserve cash by paying a monthly lease rental fee for the use of facilities, vehicles and equipment rather than purchasing them. The Company’s leases have remaining terms ranging from one to eight years, some of which may include options to extend the leases for up to five years, and some of which may include options to terminate the leases within one year. Currently, all the Company’s leases contain fixed payment terms. The Company may decide to cancel or terminate a lease before the end of its term, in which case we are typically liable to the lessor for the remaining lease payments under the term of the lease. Additionally, all of

Company’s

month-to-month leases are cancelable, by the Company or the lessor, at any time and are not included in our right-of-use asset or liability. At June 30, 2019, the Company had no leases with residual value guarantees. Typically, the Company has purchase options on the equipment underlying its long-term leases and many of its short-term rental arrangements. The Company may exercise some of these purchase options when the need for equipment is on-going and the purchase option price is attractive. Nonperformance-related default covenants, cross-default provisions, subjective default provisions and material adverse change clauses contained in material lease agreements, if any, are also evaluated to determine whether those clauses affect lease classification in accordance with ASC Topic 842-10-25. Leases are accounted for as operating or finance leases, depending on the terms of the lease.

Finance Leases

The Company leases some vehicles and certain equipment under finance leases. The economic substance of the leases is a financing transaction for acquisition of the vehicles and equipment. Accordingly, the right-of-use assets for these leases are included in the balance sheets in property and equipment, net of accumulated depreciation, with a corresponding amount recorded in current portion of finance lease obligations or finance lease obligations, net of current maturities, as appropriate. The finance lease assets are amortized over the life of the lease or, if shorter, the life of the leased asset, on a straight-line basis and included in depreciation expense. The interest associated with finance lease obligations is included in interest expense.

Operating Right-of-Use Leases

Operating right-of-use leases are included in operating lease right-of-use assets, and current portion of operating lease obligations and operating lease obligations, net of current maturities, as appropriate. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Company’s leases do not provide an implicit rate to calculate present value, the Company determines this rate by estimating the Company’s incremental borrowing rate, utilizing the borrowing rates associated with the Company’s various debt instruments. The operating lease right-of-use asset also includes any lease payments made and initial direct costs incurred and excludes lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term.

The following is a summary of the lease-related assets and liabilities recorded as of June 30, 2019:

(in thousands)
Assets	Classification on the Consolidated Balance Sheet
Operating lease right-of-use assets	Operating lease right-of-use assets	$	14,130
Finance lease right-of-use assets	Property and equipment, net of accumulated depreciation		2,054
Total right-of-use lease assets		$	16,184

Liabilities
Current
Operating lease obligations	Current portion of operating lease obligations	$	3,817
Finance lease obligations	Current portion of finance lease obligations		1,135
Total current obligations			4,952
Non-current
Operating lease obligations	Operating lease obligations, net of current maturities		10,456
Finance lease obligations	Finance lease obligations, net of current maturities		923
Total non-current obligations			11,379
Total lease obligations		$	16,331

The following is a summary of the lease terms and discount rates as of June 30, 2019:

Weighted-average remaining lease term - finance leases	1.89 years
Weighted-average remaining lease term - operating leases	4.54 years
Weighted-average discount rate - finance leases	2.5	%
Weighted-average discount rate - operating leases	3.8	%

The following is a summary of certain information related to the lease costs for finance and operating leases for the three and six months ended June 30, 2019:

		Three months ended		Six months ended
(in thousands)		June 30, 2019		June 30, 2019
Lease cost:
Finance lease cost:
Amortization of right-of-use assets	$	274	$	547
Interest on lease liabilities		17		37
Operating lease cost		1,472		2,929
Short-term lease cost		—		15
Variable lease costs		67		132
Total lease cost	$	1,830	$	3,660

The following is a summary of other information and supplemental cash flow information related to finance and operating leases for the six months ended June 30, 2019:

(in thousands)
Other information:
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	2,943
Right-of-use asset obtained in exchange for new operating lease obligations	$	1,234

The future undiscounted minimum lease payments, as reconciled to the discounted minimum lease obligation indicated on the Company’s consolidated balance sheets, under financial leases, less interest, and under operating leases, less imputed interest

, as of June 30, 2019 were as follows:

	Finance			Operating			Total
(In thousands)	Lease Obligations			Lease Obligations			Lease Obligations

Remainder of 2019	$	592		$	2,911		$	3,503
2020		1,185			4,481			5,666
2021		346			3,674			4,020
2022		—			2,830			2,830
2023		—			1,534			1,534
Thereafter		—			2,480			2,480
Total minimum lease payments		2,123			17,910			20,033
Financing component		(65	)		(3,637	)		(3,702	)
Net present value of minimum lease payments		2,058			14,273			16,331
Less: current portion of finance and operating lease obligations		(1,135	)		(3,817	)		(4,952	)
Long-term finance and operating lease obligations	$	923		$	10,456		$	11,379

The financing component for finance lease obligations represents the interest component of capital leases that will be recognized as interest expense in future periods. The financing component for operating lease obligations represents the effect of discounting the lease payments to their present value.

Certain subsidiaries of the Company have operating leases for facilities from third party companies that are owned, in whole or part, by employees of the subsidiaries. The terms and rental rates of these leases are at market rental rates. As of June 30, 2019, the minimum lease payments required under these leases totaled $2.5 million, which is to be paid over the next 4.0 years.

Capital Leases

Prior to the adoption of ASU No. 2016-02,

Leases (Topic 842)

, the Company leased vehicles and certain equipment under capital leases. The economic substance of these leases was a financing transaction for acquisition of the vehicles and equipment and, accordingly, the leases were included in the balance sheets in property and equipment, net of accumulated depreciation, with a corresponding amount recorded in current portion of lease obligations or lease obligations, net of current maturities, as appropriate. The capital lease assets were amortized on a straight-line basis over the life of the lease or, if shorter, the life of the leased asset, and were included in depreciation expense in the statements of operations. The interest associated with capital leases was included in interest expense in the statements of operations.

As of December 31, 2018, the Company had $2.7 million of capital lease obligations outstanding, $1.1 million of which was classified as a current liability.

As of December 31, 2018, $2.6 million of leased assets were capitalized in property and equipment, net of accumulated depreciation.

Fair Value Measurements

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

5. Fair Value Measurements

The Company uses the three-tier hierarchy of fair value measurement, which prioritizes the inputs used in measuring fair value based upon their degree of availability in external active markets. These tiers include: Level 1 (the highest priority), defined as observable inputs, such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3 (the lowest priority), defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

As of June 30, 2019 and December 31, 2018, the Company determined that the carrying value of cash and cash equivalents approximated fair value based on Level 1 inputs. As of June 30, 2019, the fair values of the Company’s long-term debt and finance lease obligations were based on Level 2 inputs. As of December 31, 2018, the fair values of the Company’s long-term debt and capital lease obligations were based on Level 2 inputs. The Company’s long-term debt was based on variable and fixed interest rates at June 30, 2019 and December 31, 2018, for new issues with similar remaining maturities, and approximated carrying value. In addition, based on borrowing rates currently available to the Company for borrowings with similar terms, the carrying values of the Company's finance lease obligations also approximated fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Debt

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Debt

6. Debt

The table below reflects the Company's total debt, including borrowings under its credit agreement and master loan agreements for equipment notes:

		Stated Interest		Payment	Term		Outstanding Balance as of June 30,			Outstanding Balance as of December 31,
(dollar amounts in thousands)	Inception Date	Rate (per annum)		Frequency	(years)		2019			2018

Credit Agreement
Revolving loans	6/30/2016		Variable	Variable		5	$	52,410		$	58,306

Equipment Notes
Equipment Note 1	9/28/2018		4.16%	Semi-annual		5		11,734			12,655
Equipment Note 2	9/28/2018		4.23%	Semi-annual		7		11,745			12,279
Equipment Note 3	12/31/2018		3.97%	Semi-annual		5		2,291			2,291
Equipment Note 4	12/31/2018		4.02%	Semi-annual		7		2,313			2,313
Equipment Note 5	12/31/2018		4.01%	Semi-annual		7		1,948			1,948
Equipment Note 6	6/25/2019		2.89%	Semi-annual		7		15,005			—
Equipment Note 7	6/24/2019		3.09%	Semi-annual		5		9,033			—
								54,069			31,486
Total debt								106,479			89,792
Less: current portion of long-term debt								(6,856	)		(3,681	)
Long-term debt							$	99,623		$	86,111

Credit Agreement

On June 30, 2016, the Company entered into a five-year amended and restated credit agreement as amended from time to time, (the “Credit Agreement”) with a syndicate of banks led by JPMorgan Chase Bank, N.A. and Bank of America, N.A, that provided for a $250 million facility (the “Facility”), which could be used for revolving loans and letters of credit. On September 28, 2018, the Company amended the Credit Agreement. This amendment, among other things, reduced the amount of the Facility available to be used for letters of credit to a maximum of $150 million. The Facility also allows for revolving loans and letters of credit in Canadian dollars and other currencies, up to the U.S. dollar equivalent of $50 million. The Company has an expansion option to increase the commitments under the Facility or enter into incremental term loans, subject to certain conditions, by up to an additional $100 million upon receipt of additional commitments from new or existing lenders. Subject to certain exceptions, the Facility is secured by substantially all of the assets of the Company and its domestic subsidiaries, and by a pledge of substantially all of the capital stock of the Company’s domestic subsidiaries and 65% of the capital stock of the direct foreign subsidiaries of the Company. Additionally, subject to certain exceptions, the Company’s domestic subsidiaries also guarantee the repayment of all amounts due under the Credit Agreement. If an event of default occurs and is continuing, on the terms and subject to the conditions set forth in the Credit Agreement, amounts outstanding under the Facility may be accelerated and may become or be declared immediately due and payable. Borrowings under the Credit Agreement are used for working capital, capital expenditures, acquisitions, stock repurchases and other general corporate purposes.

Amounts borrowed under the Credit Agreement bear interest, at the Company’s option, at a rate equal to either (1) the Alternate Base Rate (as defined in the Credit Agreement), plus an applicable margin ranging from 0.00% to 1.00%; or (2) Adjusted LIBO Rate (as defined in the Credit Agreement) plus an applicable margin ranging from 1.00% to 2.00%. The applicable margin is determined based on the Company’s consolidated leverage ratio (the “Leverage Ratio”) which is defined in the Credit Agreement as Consolidated Total Indebtedness divided by Consolidated EBITDA (as defined in the Credit Agreement). Letters of credit issued under the Facility are subject to a letter of credit fee of 1.125% to 2.125% for non-performance letters of credit or 0.625% to 1.125% for performance letters of credit, based on the Company’s consolidated Leverage Ratio. The Company is subject to a commitment fee of 0.20% to 0.375%, based on the Company’s consolidated Leverage Ratio, on any unused portion of the Facility. The Credit Agreement restricts certain types of payments when the Company’s consolidated Leverage Ratio exceeds 2.25. The weighted average interest rate on borrowings outstanding on the Facility for the six months ended June 30, 2019 was 3.51% per annum.

Under the Credit Agreement, the Company is subject to certain financial covenants and must maintain a maximum consolidated Leverage Ratio of 3.0 and a minimum interest coverage ratio of 3.0, which is defined in the Credit Agreement as Consolidated EBITDA (as defined in the Credit Agreement) divided by interest expense (as defined in the Credit Agreement). The Credit Agreement also contains covenants including limitations on asset sales, investments, indebtedness and liens. In connection with any permitted acquisition where the total consideration exceeds $50 million, the Company may request that the maximum permitted consolidated Leverage Ratio increase from 3.0 to 3.5. Any such increase shall begin in the quarter in which such permitted acquisition is consummated and shall continue in effect for four consecutive fiscal quarters. The Company was in compliance with all of its financial covenants under the Credit Agreement as of June 30, 2019.

As of June 30, 2019, the Company had letters of credit outstanding under the Facility of approximately $22.1 million, including $18.5 million related to the Company’s payment obligation under its insurance programs and approximately $3.6 million related to contract performance obligations.

As of December 31, 2018, the Company had letters of credit outstanding under the Facility of approximately $21.2 million, including $17.6 million related to the Company’s payment obligation under its insurance programs and approximately $3.6 million related to contract performance obligations.

The Company had remaining deferred debt issuance costs totaling $0.5 million as of June 30, 2019, related to the line of credit. As permitted under ASU No. 2015-15, debt issuance costs have been deferred and are presented as an asset within other assets, which is amortized as interest expense over the term of the line of credit.

Equipment Notes

The Company has entered into Master Equipment Loan and Security Agreements (the “Master Loan Agreements”) with multiple banks. The Master Loan Agreements may be used for the financing of equipment between the Company and the lending banks pursuant to one or more equipment notes ("Equipment Note"). Each Equipment Note executed under the Master Loan Agreements constitutes a separate, distinct and independent financing of equipment and a contractual obligation of the Company, which may contain prepayment clauses.

As of

June 30, 2019

, the Company had seven Equipment Notes outstanding under the Master Loan Agreements that are collateralized by equipment and vehicles owned by the

Company. The following table sets forth our remaining principal payments for the Company’s outstanding Equipment Notes as of June 30, 2019:

	Future
	Equipment Notes
(In thousands)	Principal Payments

Remainder of 2019	$	3,581
2020		6,608
2021		6,852
2022		7,107
2023		10,360
2024		5,964
Thereafter		13,597
Total future principal payments	$	54,069
Less: current portion of equipment notes		(6,856	)
Long-term principal obligations	$	47,213

Revenue Recognition

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue Recognition

7. Revenue Recognition

Disaggregation of Revenue

A majority of the Company’s revenues are earned through contracts with customers that normally provide for payment upon completion of specified work or units of work as identified in the contract. Although there is considerable variation in the terms of these contracts, they are primarily structured as fixed-price contracts, under which the Company agrees to do the entire project for a fixed amount, or unit-price contracts, under which the Company agrees to do the work at a fixed price per unit of work as specified in the contract. The Company also enters into time-and-equipment and time-and-materials contracts under which the Company is paid for labor and equipment at negotiated hourly billing rates and for other expenses, including materials, as incurred at rates agreed to in the contract. Finally, the Company sometimes enters into cost-plus contracts, where the Company is paid for costs plus a negotiated margin. On occasion, time-and-equipment, time-and-materials and cost-plus contracts include a guaranteed not-to-exceed maximum price.

Historically, fixed-price and unit-price contracts have had the highest potential margins; however, they have had a greater risk in terms of profitability because cost overruns may not be recoverable. Time-and-equipment, time-and-materials and cost-plus contracts have historically had less margin upside, but generally have had a lower risk of cost overruns. The Company also provides services under master service agreements (“MSAs”) and other variable-term service agreements. MSAs normally cover maintenance, upgrade and extension services, as well as new construction. Work performed under MSAs is typically billed on a unit-price, time-and-materials or time-and-equipment basis. MSAs are typically one to three years in duration; however, most of the Company’s contracts, including MSAs, may be terminated by the customer on short notice, typically 30 to 90 days, even if the Company is not in default under the contract. Under MSAs, customers generally agree to use the Company for certain services in a specified geographic region. Most MSAs include no obligation for the contract counterparty to assign specific volumes of work to the Company and do not require the counterparty to use the Company exclusively, although in some cases the MSA contract gives the Company a right of first refusal for certain work. Additional information related to the Company’s market types is provided in Note 11–Segment Information.

The components of the Company’s revenue by contract type for the three months ended June 30, 2019 and 2018 were as follows:

	Three months ended June 30, 2019
	T&D					C&I					Total
(in thousands)	Amount		Percent			Amount		Percent			Amount		Percent
Fixed price	$	119,572		46.7	%	$	115,117		59.7	%	$	234,689		52.3	%
Unit price		52,162		20.4			12,855		6.7			65,017		14.5
T&E		76,841		30.0			37,193		19.3			114,034		25.4
Other		7,335		2.9			27,701		14.3			35,036		7.8
	$	255,910		100.0	%	$	192,866		100.0	%	$	448,776		100.0	%

	Three months ended June 30, 2018
	T&D					C&I					Total
(in thousands)	Amount		Percent			Amount		Percent			Amount		Percent
Fixed price	$	77,230		39.2	%	$	90,439		63.4	%	$	167,669		49.4	%
Unit price		41,631		21.1			15,408		10.8			57,039		16.8
T&E		68,073		34.6			8,942		6.3			77,015		22.7
Other		9,991		5.1			27,962		19.5			37,953		11.1
	$	196,925		100.0	%	$	142,751		100.0	%	$	339,676		100.0	%

The components of the Company’s revenue by contract type for the six months ended June 30, 2019 and 2018 were as follows:

		Six months ended June 30, 2019
		T&D				C&I				Total
(in thousands)		Amount	Percent			Amount	Percent			Amount	Percent
Fixed price	$	252,896	47.9	%	$	248,828	64.1	%	$	501,724		54.7	%
Unit price		103,356	19.6			22,843	5.9			126,199		13.8
T&E		153,149	29.0			49,724	12.8			202,873		22.1
Other		19,057	3.5			67,017	17.2			86,074		9.4
	$	528,458	100.0	%	$	388,412	100.0	%	$	916,870		100.0	%

	Six months ended June 30, 2018
	T&D					C&I					Total
(in thousands)	Amount		Percent			Amount		Percent			Amount		Percent
Fixed price	$	156,665		37.9	%	$	179,594		66.0	%	$	336,259		49.1	%
Unit price		87,307		21.1			25,058		9.2			112,365		16.4
T&E		148,418		35.9			18,399		6.8			166,817		24.3
Other		20,921		5.1			48,925		18.0			69,846		10.2
	$	413,311		100.0	%	$	271,976		100.0	%	$	685,287		100.0	%

The components of the Company’s revenue by market type for the three months ended June 30, 2019 and 2018 were as follows:

	Three months ended June 30, 2019						Three months ended June 30, 2018
(in thousands)	Amount		Percent			Segment	Amount		Percent			Segment
Transmission	$	169,466		37.8	%	T&D	$	121,708		35.8	%	T&D
Distribution		86,444		19.2		T&D		75,217		22.2		T&D
Electrical construction		192,866		43.0		C&I		142,751		42.0		C&I
Total revenue	$	448,776		100.0	%		$	339,676		100.0	%

The components of the Company’s revenue by market type for the six months ended June 30, 2019 and 2018 were as follows:

	Six months ended June 30, 2019						Six months ended June 30, 2018
(in thousands)	Amount		Percent			Segment	Amount		Percent			Segment
Transmission	$	357,231		39.0	%	T&D	$	256,161		37.4	%	T&D
Distribution		171,227		18.6		T&D		157,150		22.9		T&D
Electrical construction		388,412		42.4		C&I		271,976		39.7		C&I
Total revenue	$	916,870		100.0	%		$	685,287		100.0	%

Remaining Performance Obligations

As of June 30, 2019, the Company had $1.06 billion of remaining performance obligations. The Company’s remaining performance obligations include projects that have a written award, a letter of intent, a notice to proceed or an agreed upon work order to perform work on mutually accepted terms and conditions.

The following table summarizes the amount of remaining performance obligations that the Company expects to be realized as of June 30, 2019 and the amount of the remaining performance obligations that the Company reasonably estimates will not be recognized within the next twelve months.

	Remaining Performance Obligations at June 30, 2019
(In thousands)	Total		Amount estimated to not be recognized within 12 months		Total at December 31, 2018

T&D	$	389,579	$	19,141	$	418,178
C&I		673,336		154,287		644,547
Total	$	1,062,915	$	173,428	$	1,062,725

The Company expects a vast majority of the remaining performance obligations to be recognized within twenty-four months, although the timing of the Company’s performance is not always under its control. Additionally, the difference between the remaining performance obligations and backlog is due to the exclusion of a portion of the Company’s MSAs under certain contract types from the Company’s remaining performance obligations as these contracts can be canceled for convenience at any time by the Company or the customer without considerable cost incurred by the customer. Additional information related to backlog is provided in

Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

Income Taxes

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

8. Income Taxes

The U.S. federal statutory tax rate was 21% for the three and six months ended June 30, 2019 and 2018. The Company’s effective tax rate for the three and six months ended June 30, 2019 was 27.9% of pretax income compared to the effective tax rate for the three and six months ended June 30, 2018 of 28.8%.

The difference between the U.S. federal statutory tax rate and the Company’s effective tax rate for the three and six months ended June 30, 2019 was primarily due to state income taxes offset by the impact of the Company’s noncontrolling interest.

The difference between the U.S. federal statutory tax rate and the Company’s effective tax rate for the three and six months ended June 30, 2018 was primarily due to state income taxes and the inability to utilize losses experienced in certain Canadian operations.

The Company had unrecognized tax benefits of approximately $0.3 million and $0.4 million as of June 30, 2019 and December 31, 2018, respectively, which were included in other liabilities in the accompanying consolidated balance sheets.

The Company’s policy is to recognize interest and penalties related to income tax liabilities as a component of income tax expense in the consolidated statements of operations. The amount of interest and penalties charged to income tax expense related to unrecognized tax benefits was not significant for the three and six months ended June 30, 2019 and 2018.

The Company is subject to taxation in various jurisdictions. The Company’s 2015 and 2017 tax returns are subject to examination by U.S. federal authorities. The Company’s tax returns are subject to examination by various state authorities for the years 2014 through 2017.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

9. Commitments and Contingencies

Purchase Commitments

As of June 30, 2019, the Company had approximately $8.3 million in outstanding purchase orders for certain construction equipment, with cash outlay scheduled to occur over the next

six

months.

Insurance and Claims Accruals

The Company carries insurance policies, which are subject to certain deductibles, for workers’ compensation, general liability, automobile liability and other insurance coverage. The deductible per occurrence for each line of coverage is up to $1.0 million, except for wildfire coverage, which has a deductible of $2.0 million. The Company’s health benefit plans are subject to deductibles of up to $0.2 million for qualified individuals. Losses up to the deductible amounts are accrued based upon the Company’s estimates of the ultimate liability for claims reported and an estimate of claims incurred but not yet reported.

The insurance and claims accruals are based on known facts, actuarial estimates and historical trends. While recorded accruals are based on the ultimate liability, which includes amounts in excess of the deductible, a corresponding receivable for amounts in excess of the deductible is included in current and long-term assets in the consolidated balance sheets.

Performance and Payment Bonds and Parent Guarantees

In certain circumstances, the Company is required to provide performance and payment bonds in connection with its future performance on certain contractual commitments. The Company has indemnified its sureties for any expenses paid out under these bonds. As of June 30, 2019, an aggregate of approximately $637.3 million in original face amount of bonds issued by the Company’s sureties were outstanding. The Company estimated the remaining cost to complete these bonded projects was approximately $326.6 million as of June 30, 2019.

From time to time, the Company guarantees the obligations of wholly owned subsidiaries, including obligations under certain contracts with customers, certain lease agreements, and, in some states, obligations in connection with obtaining contractors’ licenses. Additionally, from time to time the Company is required to post letters of credit to guarantee the obligations of wholly owned subsidiaries, which reduces the borrowing availability under the Facility.

Indemnities

From time to time, pursuant to its service arrangements, the Company indemnifies its customers for claims related to the services it provides under those service arrangements. These indemnification obligations may subject the Company to indemnity claims and liabilities and related litigation. The Company is not aware of any material unrecorded liabilities for asserted claims in connection with these indemnification obligations.

Collective Bargaining Agreements

Many of the Company’s subsidiaries’ craft labor employees are covered by collective bargaining agreements. The agreements require the subsidiaries to pay specified wages, provide certain benefits and contribute certain amounts to multi-employer pension plans. If a subsidiary withdraws from any of the multi-employer pension plans or if the plans were to otherwise become underfunded, the subsidiary could incur liabilities for additional contributions related to these plans. Although the Company has been informed that the underfunding of some of the multi-employer pension plans to which its subsidiaries contribute have been classified as “critical” status, the Company is not currently aware of any potential liabilities related to this issue.

Litigation and Other Legal Matters

The Company is from time-to-time party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of business. These actions typically seek, among other things, compensation for alleged personal injury, breach of contract, property damages, punitive damages, civil penalties or other losses, or injunctive or declaratory relief.

The Company is routinely subject to other civil claims, litigation and arbitration, and regulatory investigations arising in the ordinary course of our business, as well as in respect of our divested businesses. These claims, lawsuits and other proceedings include claims related to the Company’s current services and operations, as well as our historic operations.

With respect to all such lawsuits, claims and proceedings, the Company records reserves when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. The Company does not believe that any of these proceedings, separately or in the aggregate, would be expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Stock-Based Compensation

6 Months Ended

Jun. 30, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

10. Stock-Based Compensation

The Company maintains two equity compensation plans under which stock-based compensation has been granted: the 2017 Long-Term Incentive Plan, (the “LTIP”) and the 2007 Long-Term Incentive Plan (the “2007 Plan”). Upon the adoption of the LTIP, awards were no longer granted under the 2007 Plan. The LTIP provides for grants of (a) incentive stock options qualified as such under U.S. federal income tax laws, (b) stock options that do not qualify as incentive stock options, (c) stock appreciation rights, (d) restricted stock awards, (e) restricted stock units, (f) performance share awards, (g) phantom stock units, (h) stock bonuses, (i) dividend equivalents, and (j) any combination of such grants.

The company grants time-vested stock awards in the form of restricted stock awards, restricted stock units or equity-settled phantom stock. During the six months ended June 30, 2019, the Company granted 85,640

shares of time-vested stock awards under the LTIP, which vest ratably over three years for employee awards and one year for director awards, at a weighted average grant date fair value of

$34.22. Additionally, 96,625 shares of time-vested stock awards vested during the six months ended June 30, 2019, at a weighted average grant date fair value of $30.47.

During the six months ended June 30, 2019, the Company granted 72,932 performance share awards under the LTIP at target, which cliff vest on December 31, 2021, at a weighted average grant date fair value of $39.26. The number of shares ultimately earned under a performance award may vary from zero to 200% of the target shares awarded, based upon the Company’s performance compared to certain metrics. The metrics used were determined at the time of the grant by the Compensation Committee of the Board of Directors and were either based on internal measures, such as the Company’s financial performance compared to target, or on a market-based metric, such as the Company’s stock performance compared to a peer group. Performance awards cliff vest upon attainment of the stated performance targets and minimum service requirements and are paid in shares of the Company’s common stock.

During the six months ended June 30, 2019, plan participants exercised 11,507 stock options with a weighted average exercise price of $24.68.

The Company recognizes stock-based compensation expense related to restricted stock awards, phantom stock awards and restricted stock units based on the grant date fair value, which was the closing price of the Company’s stock on the date of grant. The fair value is expensed over the service period. The Company recognizes stock-based compensation expense related to market-based performance awards based on the grant date fair value, which is computed using a Monte Carlo simulation. The fair value is expensed over the service period, which is approximately 2.8 years. The Company recognizes stock-based compensation expense related to internal measure-based performance awards based on the grant date fair value, which was the closing price of the Company’s stock on the date of grant. The fair value is expensed over the service period of approximately 2.8 years, and the Company adjusts the stock-based compensation expense related to internal metric-based performance awards

according to its determination of the shares expected to vest at each reporting date.

Segment Information

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Information

11. Segment Information

MYR Group is a holding company of specialty contractors serving electrical utility infrastructure and commercial construction markets in the United States and western Canada. The Company has two reporting segments, each a separate operating segment, which are referred to as T&D and C&I. Performance measurement and resource allocation for the reporting segments are based on many factors. The primary financial measures used to evaluate the segment information are contract revenues and income from operations, excluding general corporate expenses. General corporate expenses include corporate facility and staffing costs, which include safety costs, professional fees, IT expenses, management fees, and intangible amortization. The accounting policies of the segments are the same as those described in the Note 1– Organization, Business and Significant Accounting Policies to the Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

Transmission and Distribution: The T&D segment provides a broad range of services on electric transmission and distribution networks and substation facilities which include design, engineering, procurement, construction, upgrade, maintenance and repair services with a particular focus on construction, maintenance and repair. T&D services include the construction and maintenance of high voltage transmission lines, substations and lower voltage underground and overhead distribution systems. The T&D segment also provides emergency restoration services in response to hurricane, ice or other storm-related damage. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors.

Commercial and Industrial: The C&I segment provides services such as the design, installation, maintenance and repair of commercial and industrial wiring, installation of traffic networks and the installation of bridge, roadway and tunnel lighting. Typical C&I contracts cover electrical contracting services for airports, hospitals, data centers, hotels, stadiums, convention centers, manufacturing plants, processing facilities, waste-water treatment facilities, mining facilities and transportation control and management systems. The C&I segment generally provides electric construction and maintenance services as a subcontractor to general contractors in the C&I industry, but also contracts directly with facility owners. The C&I segment has a diverse customer base with many long-standing relationships.

The information in the following table is derived from the segment’s internal financial reports used for corporate management purposes:

	Three months ended						Six months ended
	June 30,						June 30,
(In thousands)	2019			2018			2019			2018

Contract revenues:
T&D	$	255,910		$	196,925		$	528,458		$	413,311
C&I		192,866			142,751			388,412			271,976
	$	448,776		$	339,676		$	916,870		$	685,287
Income from operations:
T&D	$	16,050		$	11,018		$	30,980		$	24,559
C&I		4,512			9,635			9,570			14,971
GeneralCorporate		(11,152	)		(10,296	)		(21,514	)		(20,766	)
	$	9,410		$	10,357		$	19,036		$	18,764

For the three and six months ended June 30, 2019, contract revenues attributable to the Company’s Canadian operations were $20.8 million and $33.5 million, respectively, predominantly in the C&I segment. For the three and six months ended June 30, 2018, contract revenues attributable to the Company’s Canadian operations were $14.5 million and $29.2 million, respectively, predominantly in the C&I segment.

Noncontrolling Interest

6 Months Ended

Jun. 30, 2019

Noncontrolling Interest [Abstract]

Noncontrolling Interest

12. Noncontrolling Interest

On July 2, 2018, through the acquisition of certain assets of the Huen Companies, the Company became the majority controlling interest in a joint venture. As a result, the Company has consolidated the carrying value of the joint ventures’ assets and liabilities and results of operations in the Company’s consolidated financial statements. The equity owned by the other joint venture partners has been recorded as noncontrolling interest in the Company’s consolidated balance sheets, and their portions, if material, of net income (loss) and other comprehensive income shown as net income or other comprehensive income attributable to noncontrolling interest in the Company’s consolidated statements of operations and other comprehensive income. Additionally, the joint venture associated with the Company’s noncontrolling interest is a partnership, and consequently, the tax effect of only the Company’s share of the joint venture income is recognized by the Company.

The acquired joint venture made no distributions to its partners, and the Company made no capital contributions to the joint venture, during the three and six months ended June 30, 2019. Additionally, there have been no changes in ownership during the three and six months ended June 30, 2019.

The project associated with this joint venture is expected to be completed

in 2019. Net loss attributable to the noncontrolling interest, during the three and six months ended June 30, 2019, was $0.8

million and $1.6 million,

respectively.

Earnings Per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

13. Earnings Per Share

The Company computes earnings per share attributable to MYR Group Inc. using the treasury stock method. Under the treasury stock method, basic earnings per share attributable to MYR Group Inc. are computed by dividing net income available to stockholders by the weighted average number of common shares outstanding during the period, and diluted earnings per share are computed by dividing net income available to stockholders by the weighted average number of common shares outstanding during the period plus all potentially dilutive common stock equivalents, except in cases where the effect of the common stock equivalent would be anti-dilutive.

Net income attributable to MYR Group Inc. and the weighted average number of common shares used to compute basic and diluted earnings per share were as follows:

	Three months ended				Six months ended
	June 30,				June 30,
(In thousands, except per share data)	2019		2018		2019		2018

Numerator:
Net income attributable to MYR Group Inc.	$	7,207	$	6,835	$	14,560	$	12,479

Denominator:
Weighted average common shares outstanding		16,600		16,455		16,557		16,388
Weighted average dilutive securities		104		137		125		167
Weighted average common shares outstanding, diluted		16,704		16,592		16,682		16,555

Income per common share attributable to MYR Group Inc.:
Basic	$	0.43	$	0.42	$	0.88	$	0.76
Diluted	$	0.43	$	0.41	$	0.87	$	0.75

For the three and six months ended June 30, 2019 and 2018, certain common stock equivalents were excluded from the calculation of dilutive securities because their inclusion would either have been anti-dilutive or, for stock options, the exercise prices of those stock options were greater than the average market price of the Company’s common stock for the period. All of the Company’s non-participating unvested restricted shares were included in the computation of weighted average dilutive securities.

The following table summarizes the shares of common stock underlying the Company’s unvested stock options and performance awards that were excluded from the calculation of dilutive securities:

	Three months ended				Six months ended
	June 30,				June 30,
(In thousands)	2019		2018		2019		2018

Restricted stock		—		30		—		1
Performance awards		73		68		73		86

Subsequent Event

6 Months Ended

Jun. 30, 2019

Subsequent Events [Abstract]

Subsequent Event

14. Subsequent Event

On July 15, 2019, the Company completed the acquisition of substantially all the assets of CSI Electrical Contractors, Inc. (“CSI”), an electrical contracting firm based in California. CSI will provide services to a broad array of end markets under the Company’s C&I segment. The total consideration paid was approximately

$79.7

million, subject to working capital and net asset adjustments, entirely funded through borrowings under the Facility. Additionally, there could be contingent payments based on the achievement of certain performance targets and continued employment of certain key executives of CSI. The costs associated with these contingent payments will be recognized as compensation expense in the consolidated statements of operations and comprehensive income as earned over the period achievement becomes probable. The results of CSI will be included in the Company’s consolidated financial statements beginning on the transaction date. Approximately

$0.3

million of acquisition-related costs associated with this acquisition were expensed by the Company in the six months ended June 30, 2019. Due to the timing of the acquisition, the pro forma results of operations that include the impact of CSI will be provided by September 30, 2019, in an amendment to the Form 8-K filed by the Company on July 15, 2019.

Organization, Business and Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Interim Consolidated Financial Information

Foreign Currency

Use of Estimates

million and had an insignificant impact on diluted earnings per common share attributable to MYR Group Inc.

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In February 2016, the FASB issued ASU No. 2016-02,

Leases (Topic 842)

, Leases (Topic 842)

Recently Issued Accounting Pronouncements

In January 2017, the FASB issued ASU No. 2017-04,

Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

Change in Accounting Policy

On January 1, 2019, the Company adopted ASU No. 2016-02,

Leases (Topic 842)

Fair Value Measurements

Earnings Per Share

Acquisition (Tables)

6 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Schedule of acquisition

The following table summarizes the allocation of the opening balance sheet from the date of the Huen Companies acquisition through June 30, 2019:

(in thousands)	(as of acquisition date) July 2, 2018			Measurement Period Adjustments			Adjusted acquisition amounts as of June 30, 2019

Consideration paid	$	47,082		$	—		$	47,082
Preliminary estimated net asset adjustments		10,749			85			10,834
Total consideration, net of net asset adjustments	$	57,831		$	85		$	57,916

Accounts receivable, net	$	33,903		$	(207	)	$	33,696
Contract assets		10,570			1,010			11,580
Other current and long term assets		88			(11	)		77
Property and equipment		3,188			—			3,188
Intangible assets		—			24,300			24,300
Accounts payable		(9,592	)		(1,274	)		(10,866	)
Contract liabilities		(6,394	)		525			(5,869	)
Other current liabilities		(6,570	)		49			(6,521	)
Net identifiable assets and liabilities		25,193			24,392			49,585
Unallocated intangible assets		9,800			(9,800	)		—
Total acquired assets and liabilities		34,993			14,592			49,585
Fair value of acquired noncontrolling interest		(1,273	)		(7	)		(1,280	)
Goodwill	$	24,111		$	(14,500	)	$	9,611

Contract Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2019

Contractors [Abstract]

Schedule of contract assets and liabilities from contracts with customers

Contract assets consisted of the following:

	June 30,		December 31,
(in thousands)	2019		2018		Change

Unbilled revenue	$	109,287	$	111,153	$	(1,866	)
Contract retainages, net		65,518		49,128		16,390
Contract assets	$	174,805	$	160,281	$	14,524

Contract liabilities consisted of the following:

	June 30,		December 31,
(in thousands)	2019		2018		Change

Deferred revenue	$	52,364	$	57,051	$	(4,687	)
Accrued loss provision		1,217		1,483		(266	)
Contract liabilities	$	53,581	$	58,534	$	(4,953	)

The following table provides information about contract assets and contract liabilities from contracts with customers:

	June 30,			December 31,
(in thousands)	2019			2018			Change

Contract assets	$	174,805		$	160,281		$	14,524
Contract liabilities		(53,581	)		(58,534	)		4,953
Net contract assets (liabilities)	$	121,224		$	101,747		$	19,477

Schedule of net asset position for contracts in process

The net asset position for contracts in process consisted of the following:

	June 30,		December 31,
(in thousands)	2019		2018

Costs and estimated earnings on uncompleted contracts	$	2,686,781	$	2,718,713
Less: billings to date		2,629,858		2,664,611
	$	56,923	$	54,102

The net asset position for contracts in process is included within the contract asset and contract liability in the accompanying consolidated balance sheets as follows:

	June 30,			December 31,
(in thousands)	2019			2018

Unbilled revenue	$	109,287		$	111,153
Deferred revenue		(52,364	)		(57,051	)
	$	56,923		$	54,102

Lease Obligations (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Summary of lease related assets and liabilities

The following is a summary of the lease-related assets and liabilities recorded as of June 30, 2019:

(in thousands)
Assets	Classification on the Consolidated Balance Sheet
Operating lease right-of-use assets	Operating lease right-of-use assets	$	14,130
Finance lease right-of-use assets	Property and equipment, net of accumulated depreciation		2,054
Total right-of-use lease assets		$	16,184

Liabilities
Current
Operating lease obligations	Current portion of operating lease obligations	$	3,817
Finance lease obligations	Current portion of finance lease obligations		1,135
Total current obligations			4,952
Non-current
Operating lease obligations	Operating lease obligations, net of current maturities		10,456
Finance lease obligations	Finance lease obligations, net of current maturities		923
Total non-current obligations			11,379
Total lease obligations		$	16,331

Summary of lease terms and discount rates

The following is a summary of the lease terms and discount rates as of June 30, 2019:

Weighted-average remaining lease term - finance leases	1.89 years
Weighted-average remaining lease term - operating leases	4.54 years
Weighted-average discount rate - finance leases	2.5	%
Weighted-average discount rate - operating leases	3.8	%

Summary of lease costs

The following is a summary of certain information related to the lease costs for finance and operating leases for the three and six months ended June 30, 2019:

		Three months ended		Six months ended
(in thousands)		June 30, 2019		June 30, 2019
Lease cost:
Finance lease cost:
Amortization of right-of-use assets	$	274	$	547
Interest on lease liabilities		17		37
Operating lease cost		1,472		2,929
Short-term lease cost		—		15
Variable lease costs		67		132
Total lease cost	$	1,830	$	3,660

Summary of other and supplemental cash flow information related to leases

The following is a summary of other information and supplemental cash flow information related to finance and operating leases for the six months ended June 30, 2019:

(in thousands)
Other information:
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	2,943
Right-of-use asset obtained in exchange for new operating lease obligations	$	1,234

Schedule of future minimum operating lease payments

, as of June 30, 2019 were as follows:

	Finance			Operating			Total
(In thousands)	Lease Obligations			Lease Obligations			Lease Obligations

Remainder of 2019	$	592		$	2,911		$	3,503
2020		1,185			4,481			5,666
2021		346			3,674			4,020
2022		—			2,830			2,830
2023		—			1,534			1,534
Thereafter		—			2,480			2,480
Total minimum lease payments		2,123			17,910			20,033
Financing component		(65	)		(3,637	)		(3,702	)
Net present value of minimum lease payments		2,058			14,273			16,331
Less: current portion of finance and operating lease obligations		(1,135	)		(3,817	)		(4,952	)
Long-term finance and operating lease obligations	$	923		$	10,456		$	11,379

Schedule of future minimum finance lease payments

, as of June 30, 2019 were as follows:

	Finance			Operating			Total
(In thousands)	Lease Obligations			Lease Obligations			Lease Obligations

Remainder of 2019	$	592		$	2,911		$	3,503
2020		1,185			4,481			5,666
2021		346			3,674			4,020
2022		—			2,830			2,830
2023		—			1,534			1,534
Thereafter		—			2,480			2,480
Total minimum lease payments		2,123			17,910			20,033
Financing component		(65	)		(3,637	)		(3,702	)
Net present value of minimum lease payments		2,058			14,273			16,331
Less: current portion of finance and operating lease obligations		(1,135	)		(3,817	)		(4,952	)
Long-term finance and operating lease obligations	$	923		$	10,456		$	11,379

Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of total debt

The table below reflects the Company's total debt, including borrowings under its credit agreement and master loan agreements for equipment notes:

		Stated Interest		Payment	Term		Outstanding Balance as of June 30,			Outstanding Balance as of December 31,
(dollar amounts in thousands)	Inception Date	Rate (per annum)		Frequency	(years)		2019			2018

Credit Agreement
Revolving loans	6/30/2016		Variable	Variable		5	$	52,410		$	58,306

Equipment Notes
Equipment Note 1	9/28/2018		4.16%	Semi-annual		5		11,734			12,655
Equipment Note 2	9/28/2018		4.23%	Semi-annual		7		11,745			12,279
Equipment Note 3	12/31/2018		3.97%	Semi-annual		5		2,291			2,291
Equipment Note 4	12/31/2018		4.02%	Semi-annual		7		2,313			2,313
Equipment Note 5	12/31/2018		4.01%	Semi-annual		7		1,948			1,948
Equipment Note 6	6/25/2019		2.89%	Semi-annual		7		15,005			—
Equipment Note 7	6/24/2019		3.09%	Semi-annual		5		9,033			—
								54,069			31,486
Total debt								106,479			89,792
Less: current portion of long-term debt								(6,856	)		(3,681	)
Long-term debt							$	99,623		$	86,111

Schedule of remaining principal payments for long term obligations

The following table sets forth our remaining principal payments for the Company’s outstanding Equipment Notes as of June 30, 2019:

	Future
	Equipment Notes
(In thousands)	Principal Payments

Remainder of 2019	$	3,581
2020		6,608
2021		6,852
2022		7,107
2023		10,360
2024		5,964
Thereafter		13,597
Total future principal payments	$	54,069
Less: current portion of equipment notes		(6,856	)
Long-term principal obligations	$	47,213

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Schedule of revenue by contract and market type

The components of the Company’s revenue by contract type for the three months ended June 30, 2019 and 2018 were as follows:

	Three months ended June 30, 2019
	T&D					C&I					Total
(in thousands)	Amount		Percent			Amount		Percent			Amount		Percent
Fixed price	$	119,572		46.7	%	$	115,117		59.7	%	$	234,689		52.3	%
Unit price		52,162		20.4			12,855		6.7			65,017		14.5
T&E		76,841		30.0			37,193		19.3			114,034		25.4
Other		7,335		2.9			27,701		14.3			35,036		7.8
	$	255,910		100.0	%	$	192,866		100.0	%	$	448,776		100.0	%

	Three months ended June 30, 2018
	T&D					C&I					Total
(in thousands)	Amount		Percent			Amount		Percent			Amount		Percent
Fixed price	$	77,230		39.2	%	$	90,439		63.4	%	$	167,669		49.4	%
Unit price		41,631		21.1			15,408		10.8			57,039		16.8
T&E		68,073		34.6			8,942		6.3			77,015		22.7
Other		9,991		5.1			27,962		19.5			37,953		11.1
	$	196,925		100.0	%	$	142,751		100.0	%	$	339,676		100.0	%

The components of the Company’s revenue by contract type for the six months ended June 30, 2019 and 2018 were as follows:

		Six months ended June 30, 2019
		T&D				C&I				Total
(in thousands)		Amount	Percent			Amount	Percent			Amount	Percent
Fixed price	$	252,896	47.9	%	$	248,828	64.1	%	$	501,724		54.7	%
Unit price		103,356	19.6			22,843	5.9			126,199		13.8
T&E		153,149	29.0			49,724	12.8			202,873		22.1
Other		19,057	3.5			67,017	17.2			86,074		9.4
	$	528,458	100.0	%	$	388,412	100.0	%	$	916,870		100.0	%

	Six months ended June 30, 2018
	T&D					C&I					Total
(in thousands)	Amount		Percent			Amount		Percent			Amount		Percent
Fixed price	$	156,665		37.9	%	$	179,594		66.0	%	$	336,259		49.1	%
Unit price		87,307		21.1			25,058		9.2			112,365		16.4
T&E		148,418		35.9			18,399		6.8			166,817		24.3
Other		20,921		5.1			48,925		18.0			69,846		10.2
	$	413,311		100.0	%	$	271,976		100.0	%	$	685,287		100.0	%

The components of the Company’s revenue by market type for the three months ended June 30, 2019 and 2018 were as follows:

	Three months ended June 30, 2019						Three months ended June 30, 2018
(in thousands)	Amount		Percent			Segment	Amount		Percent			Segment
Transmission	$	169,466		37.8	%	T&D	$	121,708		35.8	%	T&D
Distribution		86,444		19.2		T&D		75,217		22.2		T&D
Electrical construction		192,866		43.0		C&I		142,751		42.0		C&I
Total revenue	$	448,776		100.0	%		$	339,676		100.0	%

The components of the Company’s revenue by market type for the six months ended June 30, 2019 and 2018 were as follows:

	Six months ended June 30, 2019						Six months ended June 30, 2018
(in thousands)	Amount		Percent			Segment	Amount		Percent			Segment
Transmission	$	357,231		39.0	%	T&D	$	256,161		37.4	%	T&D
Distribution		171,227		18.6		T&D		157,150		22.9		T&D
Electrical construction		388,412		42.4		C&I		271,976		39.7		C&I
Total revenue	$	916,870		100.0	%		$	685,287		100.0	%

Schedule of amount of the remaining performance obligations that the company reasonably estimates will not be recognized within the next twelve months

	Remaining Performance Obligations at June 30, 2019
(In thousands)	Total		Amount estimated to not be recognized within 12 months		Total at December 31, 2018

T&D	$	389,579	$	19,141	$	418,178
C&I		673,336		154,287		644,547
Total	$	1,062,915	$	173,428	$	1,062,725

Segment Information (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of segment's internal financial reports

The information in the following table is derived from the segment’s internal financial reports used for corporate management purposes:

	Three months ended						Six months ended
	June 30,						June 30,
(In thousands)	2019			2018			2019			2018

Contract revenues:
T&D	$	255,910		$	196,925		$	528,458		$	413,311
C&I		192,866			142,751			388,412			271,976
	$	448,776		$	339,676		$	916,870		$	685,287
Income from operations:
T&D	$	16,050		$	11,018		$	30,980		$	24,559
C&I		4,512			9,635			9,570			14,971
GeneralCorporate		(11,152	)		(10,296	)		(21,514	)		(20,766	)
	$	9,410		$	10,357		$	19,036		$	18,764

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of weighted average number of common shares used to compute basic and dilute earnings per share

Net income attributable to MYR Group Inc. and the weighted average number of common shares used to compute basic and diluted earnings per share were as follows:

	Three months ended				Six months ended
	June 30,				June 30,
(In thousands, except per share data)	2019		2018		2019		2018

Numerator:
Net income attributable to MYR Group Inc.	$	7,207	$	6,835	$	14,560	$	12,479

Denominator:
Weighted average common shares outstanding		16,600		16,455		16,557		16,388
Weighted average dilutive securities		104		137		125		167
Weighted average common shares outstanding, diluted		16,704		16,592		16,682		16,555

Income per common share attributable to MYR Group Inc.:
Basic	$	0.43	$	0.42	$	0.88	$	0.76
Diluted	$	0.43	$	0.41	$	0.87	$	0.75

Schedule of shared excluded from calculation of dilute securities

The following table summarizes the shares of common stock underlying the Company’s unvested stock options and performance awards that were excluded from the calculation of dilutive securities:

	Three months ended				Six months ended
	June 30,				June 30,
(In thousands)	2019		2018		2019		2018

Restricted stock		—		30		—		1
Performance awards		73		68		73		86

Organization, Business and Basis of Presentation - Narrative (Details) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019 USD ($) $ / shares	Jun. 30, 2018 USD ($) $ / shares	Jun. 30, 2019 USD ($) segment $ / shares	Jun. 30, 2018 USD ($) $ / shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of business segments (segment) \| segment			2
Foreign currency transaction gains (losses)			$ 100	$ 0
Revenue recognized related to change orders and claims			21,400	6,700
Increase (decrease) in operating income	$ 9,410	$ 10,357	19,036	18,764
Increase (decrease) in net income	$ 7,207	$ 6,835	$ 14,560	$ 12,479
Increase (decrease) in diluted earnings per common share (in dollars per share) \| $ / shares	$ 0.43	$ 0.41	$ 0.87	$ 0.75
Contracts Accounted for under Percentage of Completion [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in consolidated gross margin	(0.90%)	0.10%	(1.00%)	0.10%
Increase (decrease) in operating income	$ (4,200)	$ 200	$ (9,100)	$ 100
Increase (decrease) in net income	$ (1,900)	$ 200	$ (4,200)	$ 100
Increase (decrease) in diluted earnings per common share (in dollars per share) \| $ / shares	$ (0.11)	$ 0.01	$ (0.25)	$ 0

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 45
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
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-Paragraph 2
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Subparagraph (d)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Acquisition - Narrative (Details) - Huen Electric Inc [Member] - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Jul. 02, 2018	Jun. 30, 2019	Jun. 30, 2019
Preliminary estimated net asset adjustments	$ 10,749		$ 10,834
Total consideration, net of net asset adjustments	$ 57,831		57,916
Margin Guarantee [Member]
Change in contingent consideration		$ 600	1,400
Certain Performance Targets and Continued Employment of Key Executives [Member]
Change in contingent consideration		$ 300	$ 600

Acquisition - Summary of acquisition by acquisition (Details) - USD ($) $ in Thousands		6 Months Ended
	Jul. 02, 2018	Jun. 30, 2019	Dec. 31, 2018
Goodwill		$ 56,596	$ 56,588
Huen Electric Inc [Member]
Consideration paid	$ 47,082	47,082
Preliminary estimated net asset adjustments	10,749	10,834
Total consideration, net of net asset adjustments	57,831	57,916
Accounts receivable, net	33,903	33,696
Contract assets	10,570	11,580
Other current and long term assets	88	77
Property and equipment	3,188	3,188
Intangible assets	0	24,300
Accounts payable	(9,592)	(10,866)
Contract liabilities	(6,394)	(5,869)
Other current liabilities	(6,570)	(6,521)
Net identifiable assets and liabilities	25,193	49,585
Unallocated intangible assets	9,800	0
Total acquired assets and liabilities	34,993	49,585
Fair value of acquired noncontrolling interest	(1,273)	(1,280)
Goodwill	$ 24,111	9,611
Consideration paid		0
Preliminary estimated net asset adjustments		85
Total consideration, net of net asset adjustments		85
Accounts receivable, net		(207)
Contract assets		1,010
Other current and long term assets		(11)
Property and equipment		0
Intangible assets		24,300
Accounts payable		(1,274)
Contract liabilities		525
Other current liabilities		49
Net identifiable assets and liabilities		24,392
Unallocated intangible assets		(9,800)
Total acquired assets and liabilities		14,592
Fair value of acquired noncontrolling interest		(7)
Goodwill		$ (14,500)

Contract Assets and Liabilities - Summary of contract assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Unbilled revenue	$ 109,287		$ 111,153
Contract retainages, net	65,518		49,128
Contract assets	174,805		$ 160,281
Changes in contract assets	14,218	$ 14,471
Net Period Change [Member]
Changes in unbilled revenue	(1,866)
Changes in contract retainages, net	16,390
Changes in contract assets	$ 14,524

Contract Assets and Liabilities - Summary of contract liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Deferred revenue	$ 52,364		$ 57,051
Accrued loss provision	1,217		1,483
Contract liabilities	53,581		$ 58,534
Changes in contract liabilities	(5,035)	$ 17,551
Net Period Change [Member]
Changes in deferred revenue	(4,687)
Changes in accrued loss provision	(266)
Changes in contract liabilities	$ (4,953)

Contract Assets and Liabilities - Summary of assets and liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Contract assets	$ 174,805		$ 160,281
Contract liabilities	(53,581)		(58,534)
Net contract assets (liabilities)	121,224		$ 101,747
Changes in contract assets	14,218	$ 14,471
Net Period Change [Member]
Changes in contract assets	14,524
Changes in contract liabilities	4,953
Changes in net contract assets (liabilities)	$ 19,477

Contract Assets and Liabilities - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Contract with Customer, Asset and Liability [Abstract]
Revenue recognized during period	$ 4,400,000	$ 0	$ 32,800,000	$ 16,200,000

Contract Assets and Liabilities - Contracts in process (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Costs and estimated earnings on uncompleted contracts	$ 2,686,781	$ 2,718,713
Less: billings to date	2,629,858	2,664,611
Net asset position for contracts in process	$ 56,923	$ 54,102

Contract Assets and Liabilities - Summary of net asset position for contracts in process (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Unbilled revenue	$ 109,287	$ 111,153
Deferred revenue	(52,364)	(57,051)
Net asset position for contracts in process	$ 56,923	$ 54,102

Lease Obligations - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Additional right of use lease assets	$ 14,130		$ 0
Option to extend lease term (up to)	5 years
Option to terminate leases, period	1 year
Minimum lease payments required	$ 17,910
Capital lease obligations			2,600
Capital lease obligations classified as current			1,100
Leased assets capitalized			$ 2,700
Accounting Standards Update 2016-02 [Member]
Additional right of use lease assets		$ 15,100
Subsidiaries [Member] \| Employees [Member]
Minimum lease payments required	$ 2,500
Lease amortization period	4 years
Minimum [Member]
Remaining lease term	1 year
Maximum [Member]
Remaining lease term	8 years

Lease Obligations - Summary of lease-related assets and liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Operating lease right-of-use assets	$ 14,130	$ 0
Finance lease right-of-use assets	2,054
Total right-of-use lease assets	16,184
Current
Operating lease obligations	3,817	0
Finance lease obligations	1,135	1,119
Total current obligations	4,952
Non-current
Operating lease obligations	10,456	0
Finance lease obligations	923	$ 1,514
Total non-current obligations	11,379
Total lease obligations	$ 16,331

Lease Obligations - Summary of the lease terms and discount rates (Details)	Jun. 30, 2019
Lease, Cost [Abstract]
Weighted-average remaining lease term - finance leases	1 year 10 months 20 days
Weighted-average remaining lease term - operating leases	4 years 6 months 14 days
Weighted-average discount rate - finance leases	2.50%
Weighted-average discount rate - operating leases	3.80%

Lease Obligations - Summary of lease related costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Finance lease cost:
Amortization of right-of-use assets	$ 274	$ 547
Interest on lease liabilities	17	37
Operating lease cost	1,472	2,929
Short-term lease cost	0	15
Variable lease costs	67	132
Total lease cost	$ 1,830	$ 3,660

Lease Obligations - Summary of other and supplemental cash flow information related to leases (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
Other information:
Operating cash flows from operating leases	$ 2,943
Right-of-use asset obtained in exchange for new operating lease obligations	$ 1,234

Lease Obligations - Schedule of future minimum lease payments (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Finance Lease Obligations
Remainder of 2019	$ 592
2020	1,185
2021	346
2022	0
2023	0
Thereafter	0
Total minimum lease payments	2,123
Financing component	(65)
Net present value of minimum lease payments	2,058
Less: current portion of finance and operating lease obligations	(1,135)	$ (1,119)
Long-term finance and operating lease obligations	923	1,514
Operating Lease Obligations
Remainder of 2019	2,911
2020	4,481
2021	3,674
2022	2,830
2023	1,534
Thereafter	2,480
Total minimum lease payments	17,910
Financing component	(3,637)
Net present value of minimum lease payments	14,273
Less: current portion of finance and operating lease obligations	(3,817)	0
Long-term finance and operating lease obligations	10,456	$ 0
Total Lease Obligations
Remainder of 2019	3,503
2020	5,666
2021	4,020
2022	2,830
2023	1,534
Thereafter	2,480
Total minimum lease payments	20,033
Financing component	(3,702)
Net present value of minimum lease payments	16,331
Less: current portion of finance and operating lease obligations	(4,952)
Long-term finance and operating lease obligations	$ 11,379

Debt - Summary of total debt (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Total future principal payments	$ 106,479	$ 89,792
Less: Current portion of long-term debt	(6,856)	(3,681)
Long-term debt	99,623	86,111
Notes Payable to Banks [Member]
Total future principal payments	$ 54,069	31,486
Revolving Credit Facility [Member]
Term (years)	5 years
Total future principal payments	$ 52,410	58,306
Equipment Note One [Member] \| Notes Payable to Banks [Member]
Stated Interest Rate (per annum)	4.16%
Term (years)	5 years
Total future principal payments	$ 11,734	12,655
Equipment Note Two [Member] \| Notes Payable to Banks [Member]
Stated Interest Rate (per annum)	4.23%
Term (years)	7 years
Total future principal payments	$ 11,745	12,279
Equipment Note Three [Member] \| Notes Payable to Banks [Member]
Stated Interest Rate (per annum)	3.97%
Term (years)	5 years
Total future principal payments	$ 2,291	2,291
Equipment Note Four [Member] \| Notes Payable to Banks [Member]
Stated Interest Rate (per annum)	4.02%
Term (years)	7 years
Total future principal payments	$ 2,313	2,313
Equipment Note Five [Member] \| Notes Payable to Banks [Member]
Stated Interest Rate (per annum)	4.01%
Term (years)	7 years
Total future principal payments	$ 1,948	1,948
Equipment Note Six [Member] \| Notes Payable to Banks [Member]
Stated Interest Rate (per annum)	2.89%
Term (years)	7 years
Total future principal payments	$ 15,005	0
Equipment Note Seven [Member] \| Notes Payable to Banks [Member]
Stated Interest Rate (per annum)	3.09%
Term (years)	5 years
Total future principal payments	$ 9,033	$ 0

Debt - Narrative (Details) $ in Millions		6 Months Ended
Debt - Narrative (Details) $ in Millions	Jun. 30, 2016 USD ($)	Jun. 30, 2019 USD ($) equipment-note	Dec. 31, 2018 USD ($)	Sep. 28, 2018 USD ($)
Secured Debt [Member] \| Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument term	5 years
Maximum borrowing capacity	$ 250.0
Option to increase borrowing capacity	$ 100.0
Percentage of capital stock from direct foreign subsidiaries	65.00%
Debt instrument covenant leveraged debt ratio restriction		2.25
Interest rate on borrowings outstanding		3.51%
Leverage coverage ratio		3.0
Interest coverage ratio		3.0
Maximum acquisition consideration under credit agreement		$ 50.0
Leverage coverage ratio expansion		3.5
Deferred debt issuance costs		$ 0.5
Secured Debt [Member] \| Credit Agreement [Member] \| Canada, Dollars [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50.0
Secured Debt [Member] \| Credit Agreement [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 150.0
Letters of credit outstanding		22.1	$ 21.2
Secured Debt [Member] \| Credit Agreement [Member] \| Letter of Credit [Member] \| Insurance Program Obligations [Member]
Debt Instrument [Line Items]
Letters of credit outstanding		18.5	17.6
Secured Debt [Member] \| Credit Agreement [Member] \| Letter of Credit [Member] \| Contract Performance Obligations [Member]
Debt Instrument [Line Items]
Letters of credit outstanding		$ 3.6	$ 3.6
Secured Debt [Member] \| Credit Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Commitment fee on unused capacity		0.375%
Secured Debt [Member] \| Credit Agreement [Member] \| Maximum [Member] \| Performance letters of credit [Member]
Debt Instrument [Line Items]
Letter of credit facility commitment percentage		1.125%
Secured Debt [Member] \| Credit Agreement [Member] \| Maximum [Member] \| Non-performance Letters Of Credit [Member]
Debt Instrument [Line Items]
Letter of credit facility commitment percentage		2.125%
Secured Debt [Member] \| Credit Agreement [Member] \| Maximum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate margin		2.00%
Secured Debt [Member] \| Credit Agreement [Member] \| Maximum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Interest rate margin		1.00%
Secured Debt [Member] \| Credit Agreement [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Commitment fee on unused capacity		0.20%
Secured Debt [Member] \| Credit Agreement [Member] \| Minimum [Member] \| Performance letters of credit [Member]
Debt Instrument [Line Items]
Letter of credit facility commitment percentage		0.625%
Secured Debt [Member] \| Credit Agreement [Member] \| Minimum [Member] \| Non-performance Letters Of Credit [Member]
Debt Instrument [Line Items]
Letter of credit facility commitment percentage		1.125%
Secured Debt [Member] \| Credit Agreement [Member] \| Minimum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate margin		1.00%
Secured Debt [Member] \| Credit Agreement [Member] \| Minimum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Interest rate margin		0.00%
Notes Payable to Banks [Member] \| Master Loan Agreement [Member]
Debt Instrument [Line Items]
Number of equipment notes (equipment note) \| equipment-note		7

Debt - Schedule of remaining principal payments for long term obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Total future principal payments	$ 106,479	$ 89,792
Less: current portion of finance and operating lease obligations	(6,856)	(3,681)
Long-term principal obligations	99,623	86,111
Notes Payable to Banks [Member]
Total future principal payments	54,069	$ 31,486
Master Loan Agreement [Member] \| Notes Payable to Banks [Member]
Remainder of 2019	3,581
2020	6,608
2021	6,852
2022	7,107
2023	10,360
2024	5,964
Thereafter	13,597
Total future principal payments	54,069
Less: current portion of finance and operating lease obligations	(6,856)
Long-term principal obligations	$ 47,213

Revenue Recognition - Schedule of revenue by contract type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Amount	$ 448,776	$ 339,676	$ 916,870	$ 685,287
Sales Revenue, Net [Member]
Amount	$ 448,776	$ 339,676	$ 916,870	$ 685,287
Percent	100.00%	100.00%	100.00%	100.00%
Contract Type Fixed price [Member] \| Sales Revenue, Net [Member]
Amount	$ 234,689	$ 167,669	$ 501,724	$ 336,259
Percent	52.30%	49.40%	54.70%	49.10%
Contract Type Unit price [Member] \| Sales Revenue, Net [Member]
Amount	$ 65,017	$ 57,039	$ 126,199	$ 112,365
Percent	14.50%	16.80%	13.80%	16.40%
Contract Type T&E [Member] \| Sales Revenue, Net [Member]
Amount	$ 114,034	$ 77,015	$ 202,873	$ 166,817
Percent	25.40%	22.70%	22.10%	24.30%
Contract Type Other [Member] \| Sales Revenue, Net [Member]
Amount	$ 35,036	$ 37,953	$ 86,074	$ 69,846
Percent	7.80%	11.10%	9.40%	10.20%
T&D [Member] \| Sales Revenue, Net [Member]
Amount	$ 255,910	$ 196,925	$ 528,458	$ 413,311
Percent	100.00%	100.00%	100.00%	100.00%
T&D [Member] \| Contract Type Fixed price [Member] \| Sales Revenue, Net [Member]
Amount	$ 119,572	$ 77,230	$ 252,896	$ 156,665
Percent	46.70%	39.20%	47.90%	37.90%
T&D [Member] \| Contract Type Unit price [Member] \| Sales Revenue, Net [Member]
Amount	$ 52,162	$ 41,631	$ 103,356	$ 87,307
Percent	20.40%	21.10%	19.60%	21.10%
T&D [Member] \| Contract Type T&E [Member] \| Sales Revenue, Net [Member]
Amount	$ 76,841	$ 68,073	$ 153,149	$ 148,418
Percent	30.00%	34.60%	29.00%	35.90%
T&D [Member] \| Contract Type Other [Member] \| Sales Revenue, Net [Member]
Amount	$ 7,335	$ 9,991	$ 19,057	$ 20,921
Percent	2.90%	5.10%	3.50%	5.10%
C&I [Member] \| Sales Revenue, Net [Member]
Amount	$ 192,866	$ 142,751	$ 388,412	$ 271,976
Percent	100.00%	100.00%	100.00%	100.00%
C&I [Member] \| Contract Type Fixed price [Member] \| Sales Revenue, Net [Member]
Amount	$ 115,117	$ 90,439	$ 248,828	$ 179,594
Percent	59.70%	63.40%	64.10%	66.00%
C&I [Member] \| Contract Type Unit price [Member] \| Sales Revenue, Net [Member]
Amount	$ 12,855	$ 15,408	$ 22,843	$ 25,058
Percent	6.70%	10.80%	5.90%	9.20%
C&I [Member] \| Contract Type T&E [Member] \| Sales Revenue, Net [Member]
Amount	$ 37,193	$ 8,942	$ 49,724	$ 18,399
Percent	19.30%	6.30%	12.80%	6.80%
C&I [Member] \| Contract Type Other [Member] \| Sales Revenue, Net [Member]
Amount	$ 27,701	$ 27,962	$ 67,017	$ 48,925
Percent	14.30%	19.50%	17.20%	18.00%

Revenue Recognition - Schedule of revenue by market type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Amount	$ 448,776	$ 339,676	$ 916,870	$ 685,287
Sales Revenue, Net [Member]
Amount	$ 448,776	$ 339,676	$ 916,870	$ 685,287
Percent	100.00%	100.00%	100.00%	100.00%
T&D [Member] \| Sales Revenue, Net [Member]
Amount	$ 255,910	$ 196,925	$ 528,458	$ 413,311
Percent	100.00%	100.00%	100.00%	100.00%
T&D [Member] \| Market Type Transmission [Member] \| Sales Revenue, Net [Member]
Amount	$ 169,466	$ 121,708	$ 357,231	$ 256,161
Percent	37.80%	35.80%	39.00%	37.40%
T&D [Member] \| Market Type Distribution [Member] \| Sales Revenue, Net [Member]
Amount	$ 86,444	$ 75,217	$ 171,227	$ 157,150
Percent	19.20%	22.20%	18.60%	22.90%
C&I [Member] \| Sales Revenue, Net [Member]
Amount	$ 192,866	$ 142,751	$ 388,412	$ 271,976
Percent	100.00%	100.00%	100.00%	100.00%
C&I [Member] \| Market Type Electrical construction [Member] \| Sales Revenue, Net [Member]
Amount	$ 192,866	$ 142,751	$ 388,412	$ 271,976
Percent	43.00%	42.00%	42.40%	39.70%

Revenue Recognition - Narrative (Details) $ in Millions	Jun. 30, 2019 USD ($)
Remaining performance obligations	$ 1,060

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Federal statutory tax rate	21.00%	21.00%	21.00%	21.00%
Effective tax rate	27.90%	28.80%	27.90%	28.80%
Unrecognized tax benefits	$ 0.3		$ 0.3		$ 0.4

Commitments and Contingencies - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019 USD ($)
Other Commitments [Line Items]
Purchase orders outstanding	$ 8.3
Purchase orders outstanding, term	6 months
Performance Guarantee [Member]
Other Commitments [Line Items]
Bonds outstanding	$ 637.3
Estimated remaining costs for bonded projects	326.6
Contingencies Excluding Wildfire and Health Insurance [Member]
Other Commitments [Line Items]
Insurance coverage deductible	1.0
Wildfire [Member]
Other Commitments [Line Items]
Insurance coverage deductible	2.0
Health Insurance [Member]
Other Commitments [Line Items]
Insurance coverage deductible	$ 0.2

Stock-Based Compensation - Narrative (Details)	6 Months Ended
Stock-Based Compensation - Narrative (Details)	Jun. 30, 2019 plan $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity compensation plans (plan) \| plan	2
Long-Term Incentive Plan [Member] \| Restricted Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares) \| shares	85,640
Shares granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 34.22
Shares vested (in shares) \| shares	96,625
Shares vested, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 30.47
Long-Term Incentive Plan [Member] \| Performance awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares) \| shares	72,932
Shares granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 39.26
Long-Term Incentive Plan [Member] \| Performance awards [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of potential target shares awarded	0.00%
Long-Term Incentive Plan [Member] \| Performance awards [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of potential target shares awarded	200.00%
Long-Term Incentive Plan [Member] \| Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares exercised (in shares) \| shares	11,507
Shares exercised, weighted average exercise price (in dollars shares) \| $ / shares	$ 24.68
Long-Term Incentive Plan [Member] \| Market based Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	2 years 9 months 18 days
Long-Term Incentive Plan [Member] \| Internal Measure based Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	2 years 9 months 18 days
Long-Term Incentive Plan [Member] \| ShareBased Payment Arrangement Employee [Member] \| Restricted Awards [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amortization period	3 years
Long-Term Incentive Plan [Member] \| ShareBased Payment Arrangement Employee [Member] \| Restricted Awards [Member] \| Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amortization period	1 year

Segment Information - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
Segment Information - Narrative (Details) $ in Thousands	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) segment	Jun. 30, 2018 USD ($)
Segment Reporting Information [Line Items]
Contract revenues	$ 448,776	$ 339,676	$ 916,870	$ 685,287
Number of business segments (segment) \| segment			2
C&I [Member]
Segment Reporting Information [Line Items]
Contract revenues	192,866	142,751	$ 388,412	271,976
C&I [Member] \| CANADA
Segment Reporting Information [Line Items]
Contract revenues	$ 20,800	$ 14,500	$ 33,500	$ 29,200

Segment Information - Summary of segment's internal financial reports (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Contract revenues	$ 448,776	$ 339,676	$ 916,870	$ 685,287
Income from operations	9,410	10,357	19,036	18,764
T&D [Member]
Segment Reporting Information [Line Items]
Contract revenues	255,910	196,925	528,458	413,311
Income from operations	16,050	11,018	30,980	24,559
C&I [Member]
Segment Reporting Information [Line Items]
Contract revenues	192,866	142,751	388,412	271,976
Income from operations	4,512	9,635	9,570	14,971
GeneralCorporate [Member]
Segment Reporting Information [Line Items]
Income from operations	$ (11,152)	$ (10,296)	$ (21,514)	$ (20,766)

Noncontrolling Interest - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
Noncontrolling Interest - Narrative (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Capital contributions to joint venture	$ 0		$ 0
Net income attributable to noncontrolling interest	(849,000)	$ 0	(1,582,000)	$ 0
Huen Electric Inc [Member]
Distributions to partners	$ 0		$ 0

Earnings Per Share - Summary of weighted average number of common shares used to compute basic and dilute earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Net income attributable to MYR Group Inc.	$ 7,207	$ 6,835	$ 14,560	$ 12,479
Denominator:
Weighted average common shares outstanding (in shares)	16,600	16,455	16,557	16,388
Weighted average dilutive securities (in shares)	104	137	125	167
Weighted average common shares outstanding, diluted (in shares)	16,704	16,592	16,682	16,555
Income per common share attributable to MYR Group Inc.:
Basic (in dollars per share)	$ 0.43	$ 0.42	$ 0.88	$ 0.76
Diluted (in dollars per share)	$ 0.43	$ 0.41	$ 0.87	$ 0.75

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
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-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
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-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Earnings Per Share - Summary of shared excluded from calculation of dilute securities (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Restricted stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings (in shares)	0	30	0	1
Performance awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings (in shares)	73	68	73	86

Subsequent Event - Narrative (Details) - CSI Electrical Contractors [Member] - USD ($) $ in Millions	Jul. 15, 2019	Jun. 30, 2019
Subsequent Event [Line Items]
Acquisition related costs		$ 0.3
Subsequent Event [Member]
Subsequent Event [Line Items]
Total consideration paid	$ 79.7

Revenue Recognition - Summary of remaining performance obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total, Remaining Performance Obligations	$ 1,060,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		24 months
Total, Remaining Performance Obligations		$ 1,062,725
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	24 months
Total, Remaining Performance Obligations	$ 1,062,915
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	24 months
Total, Remaining Performance Obligations	$ 173,428
T&D [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		24 months
Total, Remaining Performance Obligations		$ 418,178
T&D [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	24 months
Total, Remaining Performance Obligations	$ 389,579
T&D [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	24 months
Total, Remaining Performance Obligations	$ 19,141
C&I [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		24 months
Total, Remaining Performance Obligations		$ 644,547
C&I [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	24 months
Total, Remaining Performance Obligations	$ 673,336
C&I [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	24 months
Total, Remaining Performance Obligations	$ 154,287