View Filing Data

(in thousands)

Time-vested stock awards

Performance awards

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of revenue by contract and market type

The components of the Company’s revenue by contract type were as follows for the year ended December 31:


	2019
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	564,251	49.7	%	$	704,743	75.2	%	$	1,268,994	61.3	%
Unit price		228,223	20.1			54,433	5.8			282,656	13.6
T&E		316,943	27.9			101,770	10.9			418,713	20.2
Other		24,994	2.3			75,802	8.1			100,796	4.9
	$	1,134,411	100.0	%	$	936,748	100.0	%	$	2,071,159	100.0	%


	2018
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	361,699	40.5	%	$	452,732	71.0	%	$	814,431	53.2	%
Unit Price		181,179	20.3			51,590	8.1			232,769	15.2
T&E		305,581	34.2			34,938	5.4			340,519	22.2
Other		44,649	5.0			98,801	15.5			143,450	9.4
	$	893,108	100.0	%	$	638,061	100.0	%	$	1,531,169	100.0	%

The components of the Company’s revenue by market type were as follows for the year ended December 31:


	2019					2018
(dollars in thousands)	Amount		Percent		Segment	Amount		Percent		Segment
Transmission	$	772,609	37.3	%	T&D	$	559,467	36.5	%	T&D
Distribution		361,802	17.5		T&D		333,641	21.8		T&D
Electrical construction		936,748	45.2		C&I		638,061	41.7		C&I
Total revenue	$	2,071,159	100.0	%		$	1,531,169	100.0	%

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

The following table summarizes that amount of remaining performance obligations as of December 31, 2019 that the Company expects to be realized 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 as of
	December 31, 2019
			Amount estimated to
			not be recognized
(in thousands)	Total		within 12 months
T&D	$	381,850	$	45,678
C&I		1,027,193		260,837
Total	$	1,409,043	$	306,515

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 12,397	$ 7,507
Accounts receivable, net of allowances of $3,364 and $1,331, respectively	388,479	288,427
Contract assets	217,109	160,281
Current portion of receivable for insurance claims in excess of deductibles	6,415	10,572
Refundable income taxes	1,973	0
Other current assets	12,811	8,847
Total current assets	639,184	475,634
Property and equipment, net of accumulated depreciation of $272,865 and $253,495, respectively	185,344	161,892
Operating lease right-of-use assets	22,958	0
Goodwill	66,060	56,588
Intangible assets, net of accumulated amortization of $10,880 and $7,031, respectively	54,940	33,266
Receivable for insurance claims in excess of deductibles	30,976	17,173
Investment in joint venture	4,722	1,324
Other assets	3,687	2,878
Total assets	1,007,871	748,755
Current liabilities
Current portion of long-term debt	8,737	3,681
Current portion of operating lease obligations	6,205	0
Current portion of finance lease obligations	1,135	1,119
Accounts payable	192,107	139,480
Contract liabilities	105,486	58,534
Current portion of accrued self-insurance	18,780	19,633
Other current liabilities	64,364	61,358
Total current liabilities	396,814	283,805
Deferred income tax liabilities	20,945	17,398
Long-term debt	157,087	86,111
Accrued self-insurance	48,024	34,406
Operating lease obligations, net of current maturities	16,884	0
Finance lease obligations, net of current maturities	338	1,514
Other liabilities	3,304	1,057
Total liabilities	643,396	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 December 31, 2019 and December 31,2018	0	0
Common stock-$0.01 par value per share; 100,000,000 authorized shares; 16,648,616 and 16,564,961 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively	166	165
Additional paid-in capital	152,532	148,276
Accumulated other comprehensive loss	(446)	(193)
Retained earnings	212,219	174,736
Total stockholders' equity attributable to MYR Group Inc.	364,471	322,984
Noncontrolling interest	4	1,480
Total stockholders' equity	364,475	324,464
Total liabilities and stockholders' equity	$ 1,007,871	$ 748,755

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	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]	Total
Balance at Dec. 31, 2016	$ 0	$ 162	$ 140,100	$ (433)	$ 123,345	$ 263,174	$ 0	$ 263,174
Balance (in shares) at Dec. 31, 2016		16,333
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					21,154	21,154		21,154
Stock issued under compensation plans, net		$ 2	1,230			1,232		1,232
Stock issued under compensation plans, net (in shares)		224
Stock-based compensation expense			4,376			4,376		4,376
Shares repurchased		$ (1)	(2,025)		(1,033)	(3,059)		(3,059)
Shares repurchased (in shares)		(93)
Other comprehensive income (loss)				134		134		134
Stock issued-other			28			28		28
Stock issued - other (in shares)		1
Balance at Dec. 31, 2017	0	$ 163	143,934	(299)	143,241	287,039	0	287,039
Balance (in shares) at Dec. 31, 2017		16,465
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustment to adopt new accounting principle			225		(225)			0
Net income					31,087	31,087	207	31,294
Stock issued under compensation plans, net		$ 2	1,895			1,897		1,897
Stock issued under compensation plans, net (in shares)		132
Stock-based compensation expense			3,165			3,165		3,165
Shares repurchased			(756)		(287)	(1,043)		(1,043)
Shares repurchased (in shares)		(33)
Noncontrolling interest acquired							1,273	1,273
Other comprehensive income (loss)				106		106		106
Stock issued-other			38			38		38
Stock issued - other (in shares)		1
Balance at Dec. 31, 2018	0	$ 165	148,276	(193)	174,736	322,984	1,480	324,464
Balance (in shares) at Dec. 31, 2018		16,565
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustment to adopt new accounting principle					695	695		695
Net income					37,690	37,690	(1,476)	36,214
Stock issued under compensation plans, net		$ 1	340			341		341
Stock issued under compensation plans, net (in shares)		105
Stock-based compensation expense			4,403			4,403		4,403
Shares repurchased			(571)		(207)	(778)		(778)
Shares repurchased (in shares)		(23)
Other comprehensive income (loss)				(253)		(253)		(253)
Stock issued-other			84			84		84
Stock issued - other (in shares)		2
Balance at Dec. 31, 2019	$ 0	$ 166	$ 152,532	$ (446)	$ 212,219	$ 364,471	$ 4	$ 364,475
Balance (in shares) at Dec. 31, 2019		16,649

Contract Assets and Liabilities - Contracts in process (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Contract Assets and Liabilities
Costs and estimated earnings on uncompleted contracts	$ 3,532,886	$ 2,718,713
Less: billings to date	3,509,472	2,664,611
Net asset position for contracts in process	$ 23,414	$ 54,102

Revenue Recognition - Schedule of revenue by contract type (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Contract revenues	$ 571,075	$ 583,214	$ 448,776	$ 468,094	$ 446,345	$ 399,537	$ 339,676	$ 345,611	$ 2,071,159	$ 1,531,169	$ 1,403,317
Concentration risk									100.00%	100.00%
Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 2,071,159	$ 1,531,169
Concentration risk									100.00%	100.00%
Fixed-price Contract [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 1,268,994	$ 814,431
Concentration risk									61.30%	53.20%
Unit Price Contract [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 282,656	$ 232,769
Concentration risk									13.60%	15.20%
TE Contract [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 418,713	$ 340,519
Concentration risk									20.20%	22.20%
Other Contract [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 100,796	$ 143,450
Concentration risk									4.90%	9.40%
T&D [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 1,134,411	$ 893,108
Concentration risk									100.00%	100.00%
T&D [Member] \| Fixed-price Contract [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 564,251	$ 361,699
Concentration risk									49.70%	40.50%
T&D [Member] \| Unit Price Contract [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 228,223	$ 181,179
Concentration risk									20.10%	20.30%
T&D [Member] \| TE Contract [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 316,943	$ 305,581
Concentration risk									27.90%	34.20%
T&D [Member] \| Other Contract [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 24,994	$ 44,649
Concentration risk									2.30%	5.00%
C&I [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 936,748	$ 638,061
Concentration risk									100.00%	100.00%
C&I [Member] \| Fixed-price Contract [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 704,743	$ 452,732
Concentration risk									75.20%	71.00%
C&I [Member] \| Unit Price Contract [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 54,433	$ 51,590
Concentration risk									5.80%	8.10%
C&I [Member] \| TE Contract [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 101,770	$ 34,938
Concentration risk									10.90%	5.40%
C&I [Member] \| Other Contract [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Contract revenues									$ 75,802	$ 98,801
Concentration risk									8.10%	15.50%

Acquisitions

12 Months Ended

Dec. 31, 2019

Acquisitions

Acquisitions

2. Acquisitions

CSI Electrical Contractors, Inc.

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 provides services to a broad array of end markets under the Company’s C&I segment. The total consideration, after net asset adjustments of approximately $1.0 million, was $80.7 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 CSI.

The purchase agreement also includes contingent consideration provisions for margin guarantee adjustments based upon contract performance subsequent to the acquisition. 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, will result in changes to these margin guarantee estimates. Changes in contingent consideration, subsequent to the acquisition, related to the margin guarantee adjustments on contracts of approximately $2.0 million were recorded in other expense for the year ended December 31, 2019. Future margin guarantee adjustments, if any, are expected to be recognized through 2020. 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 CSI. These payments are recognized as compensation expense on the Company’s consolidated statements of operations as incurred. For the year ended December 31, 2019 the Company recognized $0.4 million of compensation expense associated with these contingent payments.

The results of operations for CSI are included on the Company’s consolidated statement of operations and the C&I segment from the date of acquisition. Costs of approximately $0.6 million related to the acquisition were included in selling, general and administrative expenses on the Company’s consolidated statement of operations for the year ended December 31, 2019.

The following table summarizes the allocation of the opening balance sheet from the date of the CSI acquisition:



	(as of		Measurement
	acquisition date)		Period		Final Acquisition
(in thousands)	July 15, 2019		Adjustments		Allocation
Consideration paid	$	79,720	$	—	$	79,720
Net asset adjustments		633		354		987
Total consideration, net of net asset adjustments	$	80,353	$	354	$	80,707

Accounts receivable, net	$	59,579	$	186	$	59,765
Contract assets		38,970		994		39,964
Other current assets		83		—		83
Property and equipment		7,964		—		7,964
Operating lease right-of-use assets		9,933		—		9,933
Intangible assets		26,000		(500)		25,500
Other long term assets		149		—		149
Accounts payable		(29,533)		(1,100)		(30,633)
Accrued salaries and benefits		(8,091)		—		(8,091)
Contract liabilities		(18,934)		200		(18,734)
Current portion of operating lease obligations		(2,526)		(36)		(2,562)
Other current liabilities		(4,776)		73		(4,703)
Operating lease obligations, net of current maturities		(7,407)		36		(7,371)
Long-term debt		(20)		—		(20)
Net identifiable assets and liabilities		71,391		(147)		71,244
Goodwill	$	8,962	$	501	$	9,463

The Company has determined the fair value of the assets acquired and liabilities assumed for the purposes of allocating the purchase price. The goodwill to be recognized, which represents the excess of the purchase price over the net amount of the fair values assigned to assets acquired and liabilities assumed, is primarily attributable to the value of an assembled workforce and other non-identifiable assets. No synergies were anticipated in the acquisition as CSI will function as an individual district within the Company’s operating structure. All of the goodwill and identifiable intangible assets are expected to be tax deductible per applicable Internal Revenue Service regulations.

The following unaudited supplemental pro forma results of operations have been provided for illustrative purposes only and do not purport to be indicative of the actual results that would have been achieved by the combined companies for the periods presented or that may be achieved by the combined companies in the future. Future results may vary significantly from the results reflected in the following pro forma financial information because of future events and transactions, as well as other factors:


	Year ended December 31,
(in thousands, except per share data)	2019		2018
	(unaudited)		(unaudited)
Contract revenues	$	2,243,224	$	1,833,645
Net income	$	39,552	$	33,165
Net income attributable to MYR Group, Inc.	$	41,028	$	32,958
Income per common share attributable to MYR Group Inc.:
– Basic	$	2.47	$	2.00
– Diluted	$	2.46	$	1.99
Weighted average number of common shares and potential common shares outstanding:
– Basic		16,587		16,441
– Diluted		16,699		16,585

The pro forma combined results of operations for the year ended December 31, 2019 and 2018 were prepared by adjusting the historical results of the Company to include the historical results of CSI, as if the acquisition occurred on January 1, 2018. These pro forma results were adjusted for the following:

additional depreciation associated with the estimated step-up in fair value of the property and equipment acquired;

transaction costs associated with the acquisition;

estimated compensation expense related to contingent payments associated with the achievement of certain performance targets and continued employment of certain key executives of CSI;

the estimated amortization related to the acquired intangible assets discussed above;

interest expense recorded by CSI and the additional interest expense related to the incremental borrowings of $79.7 million on the Company’s credit facility as if the borrowing occurred on January 1, 2018; and

the income tax effect of pro forma adjustments at the statutory tax rate.

Revenues of approximately $137.7 million and net loss before income taxes of approximately $1.5 million, net of CSI margin guarantee adjustments on contracts of $2.0 million and intangible asset amortization of $1.8 million, were included on the Company’s consolidated results of operations for the year ended December 31, 2019 related to the acquisition of CSI.

Huen Electric, Inc.

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 approximately $10.8 million, was $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 includes contingent consideration provisions for margin guarantee adjustments based upon performance subsequent to the acquisition on certain contracts. The contracts are 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 $1.5 million were recorded in other expense for the year ended December 31, 2019. Margin guarantee adjustments are expected to be finalized in early 2020. 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 on the Company’s consolidated statements of operations as incurred. For the year ended December 31, 2019 the Company recognized $1.9 million 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 acquisition:


	(as of		Measurement
	acquisition date)		Period		Final Acquisition
(in thousands)	July 2, 2018		Adjustments		Allocation
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 liabilites		25,193		24,392		49,585
Unallocated intangible assets		9,800		(9,800)		—
Total aquired assets and liabilites		34,993		14,592		49,585
Fair value of aquired noncontrolling interests		(1,273)		(7)		(1,280)
Goodwill	$	24,111	$	(14,500)	$	9,611

Goodwill and Intangible Assets -Schedule of estimated future intangible asset amortization expense (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Goodwill and Intangible Assets
2020	$ 3,587
2021	2,312
2022	2,312
2023	2,312
2024	2,312
Thereafter	13,650
Amortizable Intangible Assets, Net Carrying Amount	$ 26,485

Income Taxes - Schedule of effective tax rate reconciliation (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes
U.S federal statutory rate	21.00%	21.00%	35.00%
Deferred balance adjustments due to Tax Act, net	0.00%	0.00%	(31.60%)
State income taxes, net of U.S. federal income tax expense	4.70%	5.20%	5.30%
Change in valuation allowance	(0.30%)	1.20%	6.40%
Domestic production/manufacturing deduction	(0.00%)	(0.00%)	(1.60%)
Tax differential on foreign earnings	0.40%	(0.50%)	3.20%
Deferred state tax adjustments, net	0.00%	0.00%	(2.40%)
Non-deductible meals and entertainment	0.80%	0.80%	1.70%
Stock compensation excess tax benefits	0.10%	(0.10%)	(3.10%)
Uncertain tax positions	(0.40%)	0.10%	2.00%
Provision to return adjustments, net	0.20%	(0.20%)	(0.30%)
Global intangible low tax income	0.30%	0.00%	0.00%
Non-controlling interest	0.90%	(0.50%)	0.00%
Other income, net	0.50%	0.30%	(0.50%)
Effective rate	28.20%	27.30%	14.10%

Contract Assets and Liabilities - Summary of contract assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Contractors [Line Items]
Unbilled revenue	$ 126,087	$ 111,153
Contract retainages, net	91,022	49,128
Contract assets	217,109	160,281
Changes in contract assets	16,443	$ 28,141	$ 17,857
Net Period Change [Member]
Contractors [Line Items]
Changes in unbilled revenue	14,934
Changes in contract retainages, net	41,894
Changes in contract assets	$ 56,828

Accrued Liabilities

12 Months Ended

Dec. 31, 2019

Accrued Liabilities

Accrued Liabilities

9. Accrued Liabilities

Other current liabilities consisted of the following at December 31:


(in thousands)	2019		2018
Payroll and incentive compensation	$	22,645	$	21,641
Union dues and benefits		18,747		11,465
Taxes		6,790		7,999
Profit sharing and thrift plan		5,325		1,215
Net asset adjustments		987		11,210
Joint venture liability		652		—
Other		9,218		7,828
	$	64,364	$	61,358

See additional information on net asset adjustments provided in Note 2—Acquisitions to the Financial Statements.

Goodwill and Intangible Assets - Summary of goodwill and intangible assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Intangible Assets And Goodwill [Line Items]
Goodwill, Gross Carrying Amount	$ 66,060	$ 56,588
Goodwill, Accumulated Amortization	0	0
Goodwill, Net Carrying Amount	66,060	56,588
Amortizable Intangible Assets, Accumulated Amortization	10,880	7,031
Amortizable Intangible Assets, Net Carrying Amount	26,485
Total intangible assets, Gross Carrying Amount	65,820	40,297
Total intangible assets, Net Carrying Amount	54,940	33,266
T&D [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Goodwill, Gross Carrying Amount	40,224	40,224
Goodwill, Accumulated Amortization	0	0
Goodwill, Net Carrying Amount	40,224	40,224
C&I [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Goodwill, Gross Carrying Amount	25,836	16,364
Goodwill, Accumulated Amortization	0	0
Goodwill, Net Carrying Amount	25,836	16,364
Trade names [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Indefinite-lived Intangible Assets	28,455	19,533
Backlog [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	5,289	2,789
Amortizable Intangible Assets, Accumulated Amortization	4,039	1,889
Amortizable Intangible Assets, Net Carrying Amount	1,250	900
Customer relationships [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	31,381	17,280
Amortizable Intangible Assets, Accumulated Amortization	6,623	4,970
Amortizable Intangible Assets, Net Carrying Amount	24,758	12,310
Trade names [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	695	695
Amortizable Intangible Assets, Accumulated Amortization	218	172
Amortizable Intangible Assets, Net Carrying Amount	$ 477	$ 523

Stock-Based Compensation - Additional information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($) plan shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity stock based compensation plans (plan) \| plan	2
Stock based compensation expense (reversal)	$ 4.4	$ 3.2	$ 4.4
Unrecognized stock-based compensation expense	$ 5.4
Long-Term Incentive Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares permitted for granting (in shares) \| shares	900,000
Performance awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of common stock at the time of vesting	$ 0.2	1.0	1.3
Unrecognized stock-based compensation expense	$ 2.6
Remaining weighted average vesting period	1 year 6 months
Performance awards [Member] \| Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	2 years 9 months 18 days
Stock based compensation expense (reversal)		(0.7)
Performance awards [Member] \| Long-Term Incentive Plan [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of potential target shares awarded	0.00%
Performance awards [Member] \| Long-Term Incentive Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of potential target shares awarded	200.00%
Time vested stock awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of common stock at the time of vesting	$ 3.4	$ 3.0	$ 3.8
Unrecognized stock-based compensation expense	$ 2.8
Remaining weighted average vesting period	1 year 7 months 6 days
Time vested stock awards [Member] \| Long-Term Incentive Plan [Member] \| Share-based Payment Arrangement, Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	3 years
Award vesting period	3 years
Time vested stock awards [Member] \| Long-Term Incentive Plan [Member] \| Share-based Payment Arrangement, Nonemployee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	1 year	1 year	3 years
Award vesting period	1 year
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised	$ 0.2	$ 1.3	$ 1.7
Stock Options [Member] \| Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period	10 years

Employee Benefit Plans - Additional information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($) item	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Multiemployer Plans, Pension [Member]
Number of local unions (union) \| item	100
Other Postretirement Benefits Plan [Member] \| UNITED STATES [Member] \| Profit Sharing And Thrift Employee Benefit Plan [Member]
Contributions to benefit plans \| $	$ 10.9	$ 5.8	$ 4.1

Income Taxes - Summary of liability for unrecognized tax benefits reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of the beginning and ending liabilities for unrecognized tax benefits
Balance at beginning of period	$ 327	$ 751
Gross increases in current period tax positions	31	25
Settlements with taxing authorities	(88)	0
Reductions in tax positions due to lapse of statutory limitations	(118)	(8)
Reclass from unrecognized tax benefits to deferred tax liability	0	(441)
Balance at end of period	152	327
Accrued interest and penalties at end of period	24	48
Total liability for unrecognized tax benefits	$ 176	$ 375

Contract Assets and Liabilities - Summary of net asset position for contracts in process (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Contract Assets and Liabilities
Unbilled revenue	$ 126,087	$ 111,153
Deferred revenue	(102,673)	(57,051)
Net asset position for contracts in process	$ 23,414	$ 54,102

Debt - Summary of total debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total debt	$ 165,824	$ 89,792
Less: current portion of long-term debt	(8,737)	(3,681)
Long-term debt	157,087	86,111
Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Total debt	$ 62,004	31,486
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Term (years)	5 years
Total debt	$ 103,820	58,306
Equipment Note One [Member] \| Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Stated Interest Rate (per annum)	4.16%
Term (years)	5 years
Total debt	$ 10,643	12,655
Equipment Note Two [Member] \| Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Stated Interest Rate (per annum)	4.23%
Term (years)	7 years
Total debt	$ 11,200	12,279
Equipment Note Three [Member] \| Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Stated Interest Rate (per annum)	3.97%
Term (years)	5 years
Total debt	$ 1,953	2,291
Equipment Note Four [Member] \| Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Stated Interest Rate (per annum)	4.02%
Term (years)	7 years
Total debt	$ 2,108	2,313
Equipment Note Five [Member] \| Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Stated Interest Rate (per annum)	4.01%
Term (years)	7 years
Total debt	$ 1,751	1,948
Equipment Note Six [Member] \| Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Stated Interest Rate (per annum)	2.89%
Term (years)	7 years
Total debt	$ 14,286	0
Equipment Note Seven [Member] \| Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Stated Interest Rate (per annum)	3.09%
Term (years)	5 years
Total debt	$ 9,033	0
Equipment Note Eight [Member] \| Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Stated Interest Rate (per annum)	2.75%
Term (years)	5 years
Total debt	$ 6,496	0
Equipment Note Nine [Member] \| Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Stated Interest Rate (per annum)	3.01%
Term (years)	7 years
Total debt	$ 4,534	$ 0

Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share.

Earnings Per Share

18. Earnings Per Share

The Company computes earnings per share 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 attributable to MYR Group Inc. by the weighted average number of common shares outstanding during the period. Diluted earnings per share attributable to MYR Group Inc. are computed by dividing net income attributable to MYR Group Inc. 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 was as follows:


	For the Year Ended December 31,
(in thousands, except per share data)	2019		2018		2017
Numerator:
Net income	$	36,214	$	31,294	$	21,154
Less: net income (loss) attributable to noncontrolling interest		(1,476)		207		—
Net income attributable to MYR Group Inc.	$	37,690	$	31,087	$	21,154
Denominator:
Weighted average common shares outstanding		16,587		16,441		16,273
Weighted average dilutive securities		112		144		223
Weighted average common shares outstanding, diluted		16,699		16,585		16,496
Net income per share attributable to MYR Group Inc.:
Basic	$	2.27	$	1.89	$	1.30
Diluted	$	2.26	$	1.87	$	1.28

For the years ended December 31, 2019, 2018 and 2017, 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 time-vested and performance awards that were excluded from the calculation of dilutive securities:

Share Repurchase Program

During 2019 and 2018, the Company repurchased 23,103 and 32,857 shares of stock, respectively, for approximately $0.8 million and $1.0 million, respectively, from its employees to satisfy tax obligations on shares vested under the Plans. All of the shares repurchased were retired and returned to authorized but unissued stock.

Acquisitions - Additional information (Details) - USD ($) $ in Thousands			12 Months Ended			18 Months Ended
	Jul. 15, 2019	Jul. 02, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Jan. 01, 2018
Business Acquisition [Line Items]
Revenues				$ 1,531,169
Income before income taxes			$ 50,442	43,068	$ 24,640
Intangible asset amortization			3,849	$ 1,843	$ 499
CSI Electrical Contractors, Inc [Member]
Business Acquisition [Line Items]
Preliminary estimated net asset adjustments	$ 633		987
Total consideration, net of net asset adjustments	$ 80,353		80,707
Acquisition related costs			600			$ 600
Revenues			137,700
Income before income taxes			1,500
Intangible asset amortization			1,800
CSI Electrical Contractors, Inc [Member] \| Revolving Credit Facility [Member] \| Pro Forma [Member]
Business Acquisition [Line Items]
Borrowings under line of credit							$ 79,700
CSI Electrical Contractors, Inc [Member] \| Margin Guarantee [Member]
Business Acquisition [Line Items]
Change in contingent consideration			2,000
CSI Electrical Contractors, Inc [Member] \| Certain Performance Targets and Continued Employment of Key Executives [Member]
Business Acquisition [Line Items]
Change in contingent consideration			400
Huen Electric Inc [Member]
Business Acquisition [Line Items]
Preliminary estimated net asset adjustments		$ 10,749				10,834
Total consideration, net of net asset adjustments		$ 57,831				$ 57,916
Huen Electric Inc [Member] \| Margin Guarantee [Member]
Business Acquisition [Line Items]
Change in contingent consideration			1,500
Huen Electric Inc [Member] \| Certain Performance Targets and Continued Employment of Key Executives [Member]
Business Acquisition [Line Items]
Change in contingent consideration			$ 1,900

Goodwill and Intangible Assets - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization	$ 3,849	$ 1,843	$ 499
CSI Electrical Contractors, Inc [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization	1,800
Increase in goodwill	$ 9,500
CSI Electrical Contractors, Inc [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization period	12 years
Trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	15 years
Customer Relationships and Backlog [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	12 years 6 months

Noncontrolling Interests	12 Months Ended
Noncontrolling Interests	Dec. 31, 2019
Noncontrolling Interests
Noncontrolling Interests	17. Noncontrolling Interests 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 on the Company’s consolidated financial statements. The Company records the equity owned by the other joint venture partners as noncontrolling interests on the Company’s consolidated balance sheets, consolidated statements of stockholders’ equity, and their portions, if material, of net income (loss) and other comprehensive income (loss) is shown as net income (loss) or other comprehensive income (loss) attributable to noncontrolling interests on the Company’s consolidated statements of operations and other comprehensive income (loss). Additionally the joint venture associated with the Company’s noncontrolling interests is a partnership, and consequently, the tax effect of only the Company’s share of the joint venture income (loss) 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 year ended December 31, 2019. Additionally, there have been no changes in ownership during the year ended December 31, 2019, and the underlying project was substantially completed in 2019. The balance of the Company’s noncontrolling interest consists of the preliminary fair value of noncontrolling interest acquired on July 2, 2018 with the Huen Companies. Net loss attributable to the noncontrolling interest, subsequent to the acquisition through December 31, 2019, was $1.5 million.

Contract Assets and Liabilities - Summary of contract liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Contractors [Line Items]
Deferred revenue	$ 102,673	$ 57,051
Accrued loss provision	2,813	1,483
Contract liabilities	105,486	58,534
Changes in contract liabilities	28,163	$ 22,551	$ (14,317)
Net Period Change [Member]
Contractors [Line Items]
Changes in deferred revenue	45,622
Changes in accrued loss provision	1,330
Changes in contract liabilities	$ 46,952

Lease Obligations - Summary of lease-related assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Operating lease right-of-use assets	$ 22,958	$ 0
Finance lease right-of-use assets	1,478
Total right-of-use lease assets	24,436
Current
Operating lease obligations	6,205	0
Finance lease obligation	1,135	1,119
Total current obligations	7,340
Non-current
Operating lease obligations	16,884	0
Finance lease obligations	338	$ 1,514
Total non-current obligations	17,222
Total lease obligations	$ 24,562

Segment Information - Summary of depreciation and amortization by segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Depreciation and amortization
Depreciation and amortization	$ 44,516	$ 39,913	$ 38,576
T&D [Member]
Depreciation and amortization
Depreciation and amortization	35,711	33,977	34,990
C&I [Member]
Depreciation and amortization
Depreciation and amortization	$ 8,805	$ 5,936	$ 3,586

Lease Obligations - Summary of the lease terms and discount rates (Details)	Dec. 31, 2019
Lease Obligations
Weighted-average remaining lease term - finance leases	1 year 4 months 24 days
Weighted-average remaining lease term - operating leases	3 years 10 months 24 days
Weighted-average discount rate - finance leases	2.50%
Weighted-average discount rate - operating leases	3.80%

Acquisitions - Summary of supplemental pro forma financial information (Details) - CSI Electrical Contractors, Inc [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Contract revenues	$ 2,243,224	$ 1,833,645
Net income	39,552	33,165
Net income attributable to MYR Group, Inc.	$ 41,028	$ 32,958
Income per common share attributable to MYR Group Inc.:
- Basic (in dollars per share)	$ 2.47	$ 2.00
- Diluted (in dollars per share)	$ 2.46	$ 1.99
Weighted average number of common shares and potential common shares outstanding:
- Basic (in shares)	16,587	16,441
- Diluted (in shares)	16,699	16,585

Accounts Receivable - Summary of allowance for doubtful accounts activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of period	$ 1,331	$ 605	$ 432
Less: reduction in (provision for) allowances	(2,532)	(860)	(263)
Less: Write offs, net of recoveries	501	123	92
Change in foreign currency translation	(2)	11	(2)
Balance at end of period	$ 3,364	$ 1,331	$ 605

Revenue Recognition - Additional information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Remaining performance obligations	$ 1,410
Minimum [Member]
Term of master service agreements	1 year
Short termination notice of master service agreements	30 days
Maximum [Member]
Term of master service agreements	3 years
Short termination notice of master service agreements	90 days

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Taxes

Income Taxes

12. Income Taxes

Income before income taxes by geographic area was, for the years ended December 31:


(in thousands)	2019		2018		2017
Federal	$	46,445	$	48,393	$	33,830
Foreign		3,997		(5,325)		(9,190)
	$	50,442	$	43,068	$	24,640

Income tax expense consisted of the following for the years ended December 31:


(in thousands)	2019		2018		2017
Current
Federal	$	6,976	$	5,155	$	7,020
State		3,562		3,310		1,557
		10,538		8,465		8,577
Deferred
Federal		3,010		4,936		(1,453)
Foreign		874		(822)		(875)
State		(194)		(805)		(2,763)
		3,690		3,309		(5,091)
Income tax expense	$	14,228	$	11,774	$	3,486

The differences between the U.S. federal statutory tax rate and the Company’s effective tax rate for operations were as follows for the years ended December 31:


	2019		2018		2017
U.S federal statutory rate	21.0	%	21.0	%	35.0	%
Deferred balance adjustments due to Tax Act, net	—		—		(31.6)
State income taxes, net of U.S. federal income tax expense	4.7		5.2		5.3
Change in valuation allowance	(0.3)		1.2		6.4
Domestic production/manufacturing deduction	—		—		(1.6)
Tax differential on foreign earnings	0.4		(0.5)		3.2
Deferred state tax adjustments, net	—		—		(2.4)
Non-deductible meals and entertainment	0.8		0.8		1.7
Stock compensation excess tax benefits	0.1		(0.1)		(3.1)
Uncertain tax positions	(0.4)		0.1		2.0
Provision to return adjustments, net	0.2		(0.2)		(0.3)
Global intangible low tax income	0.3		—		—
Non-controlling interest	0.9		(0.5)		—
Other income, net	0.5		0.3		(0.5)
Effective rate	28.2	%	27.3	%	14.1	%

The net deferred tax assets and (liabilities) arising from temporary differences was as follows at December 31:


(in thousands)	2019		2018
Deferred income tax assets:
Self insurance reserves	$	4,458	$	4,299
Contract loss reserves		642		350
Stock-based awards		1,164		1,143
Bonus		4,904		3,271
Operating lease liabilities		5,850		—
Non-U.S. operating loss		5,499		5,641
Other		3,439		1,958
Total deferred income tax assets before valuation allowances		25,956		16,662
Less: valuation allowances		(2,508)		(2,672)
Total deferred income tax assets		23,448		13,990
Deferred income tax liabilities:
Property and equipment – tax over book depreciation		(32,220)		(26,030)
Intangible assets – tax over book amortization		(1,856)		(1,890)
Right-of-use operating lease assets		(5,850)		—
Non-U.S. deferred income tax liabilities		(2,280)		(1,443)
Other		(2,187)		(2,025)
Total deferred income tax liabilities		(44,393)		(31,388)
Net deferred income taxes	$	(20,945)	$	(17,398)

The Company determined that it is more-likely-than-not that it will not realize the deferred tax assets on certain Canadian subsidiaries and recorded a valuation allowance against the entire related deferred tax assets for those entities.

As of December 31, 2019, the Company had no undistributed earnings of our Canadian subsidiaries. We expect future earnings to be reinvested. Accordingly, as of December 31, 2019 no expense for U.S. income taxes or foreign withholding taxes was recorded.

The Company is subject to taxation in various jurisdictions. The Company’s 2017 and 2018 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 2015 through 2018.

The Company has recorded a liability for unrecognized tax benefits related to tax positions taken on its various income tax returns. If recognized, the entire amount of unrecognized tax benefits would favorably impact the effective tax rate that is reported in future periods. The decrease in the unrecognized tax benefits as of December 31, 2019 was primarily due to the settlement of an Internal Revenue Service audit for the 2016 tax year and the lapses in the applicable status of limitations. The total unrecognized tax benefits is expected to be reduced by less than $0.1 million within the next 12 months. Interest and penalties related to uncertain income tax positions are included as a component of income tax expense in the Financial Statements.

The following is a reconciliation of the beginning and ending liability for unrecognized tax benefits at December 31:


(in thousands)	2019		2018
Balance at beginning of period	$	327	$	751
Gross increases in current period tax positions		31		25
Settlements with taxing authorities		(88)		—
Reductions in tax positions due to lapse of statutory limitations		(118)		(8)
Reclass from unrecognized tax benefits to deferred tax liability		—		(441)
Balance at end of period		152		327
Accrued interest and penalties at end of period		24		48
Total liability for unrecognized tax benefits	$	176	$	375

The liability for unrecognized tax benefits, including accrued interest and penalties, was included in other liabilities on the accompanying consolidated balance sheets. The amount of interest and penalties charged or credited to income tax expense as a result of the unrecognized tax benefits was not significant in the years ended December 31, 2019, 2018 and 2017.

Commitments and Contingencies - Additional information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Commitments [Line Items]
Purchase orders outstanding	$ 5.4
Purchase orders outstanding, term	3 months
Performance Guarantee [Member]
Other Commitments [Line Items]
Bonds outstanding	$ 902.0
Estimated remaining costs for bonded projects	399.2
Insurance Claims [Member]
Other Commitments [Line Items]
Insurance expense	48.5	$ 30.4	$ 29.5
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

Contract Assets and Liabilities - Additional information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Contract Assets and Liabilities
Revenues recognized during period	$ 39.2	$ 21.3
Allowance for contract retainage	$ 0.0	$ 0.0

Stock-Based Compensation - Summary of stock options outstanding and exercisable (Details)	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Options Outstanding and Exercisable
Number Of Options (in shares) \| shares	59,586
Weighted-Average Exercise Price (in dollars per share)	$ 22.26
Weighted-Average Remaining Contractual Term	2 years 2 months 12 days
Range Of Exercise Prices From Dollars 17.18 To 17.18
Stock options outstanding
Exercise price, low end of range	$ 17.18
Exercise price, high end of range	$ 17.18
Options Outstanding and Exercisable
Number Of Options (in shares) \| shares	4,435
Weighted-Average Exercise Price (in dollars per share)	$ 17.18
Weighted-Average Remaining Contractual Term	2 months 12 days
Range Of Exercise Prices From Dollars 17.48 To 17.48
Stock options outstanding
Exercise price, low end of range	$ 17.48
Exercise price, high end of range	$ 17.48
Options Outstanding and Exercisable
Number Of Options (in shares) \| shares	14,232
Weighted-Average Exercise Price (in dollars per share)	$ 17.48
Weighted-Average Remaining Contractual Term	2 years 2 months 12 days
Range Of Exercise Prices From Dollars 24.18 To 24.18
Stock options outstanding
Exercise price, low end of range	$ 24.18
Exercise price, high end of range	$ 24.18
Options Outstanding and Exercisable
Number Of Options (in shares) \| shares	17,318
Weighted-Average Exercise Price (in dollars per share)	$ 24.18
Weighted-Average Remaining Contractual Term	1 year 2 months 12 days
Range Of Exercise Prices From Dollars 24.68 To 24.68
Stock options outstanding
Exercise price, low end of range	$ 24.68
Exercise price, high end of range	$ 24.68
Options Outstanding and Exercisable
Number Of Options (in shares) \| shares	23,601
Weighted-Average Exercise Price (in dollars per share)	$ 24.68
Weighted-Average Remaining Contractual Term	3 years 2 months 12 days

Segment Information - Summary of assets allocation by segment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable assets	$ 1,007,871	$ 748,755
T&D [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable assets	306,226	274,038
C&I [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable assets	414,264	257,049
General Corporate [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable assets	$ 287,381	$ 217,668

Property and Equipment

12 Months Ended

Dec. 31, 2019

Property and Equipment

Property and Equipment

7. Property and Equipment

Property and equipment consisted of the following at December 31:


	Estimated
	Useful Life
(dollars in thousands)	in Years		2019		2018
Land		—	$	9,301	$	8,475
Buildings and improvements		3 to 39		29,747		23,228
Construction equipment		3 to 12		403,217		371,941
Office equipment		3 to 10		15,944		11,743
				458,209		415,387
Less: accumulated depreciation and amortization				(272,865)		(253,495)
			$	185,344	$	161,892

Construction equipment includes assets under finance leases — see additional information provided in Note 4 — Lease Obligations to the Financial Statements.

Depreciation and amortization expense of property and equipment for the years ended December 31, 2019, 2018 and 2017 was $40.7 million, $38.1 million and $38.1 million, respectively.

Stock-Based Compensation - Summary of time-vested stock awards activity (Details) - Time vested stock awards [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Shares
Outstanding, beginning of period (in shares)	175,431	188,648	223,416
Granted (in shares)	85,640	93,280	66,352
Vested (in shares)	(99,655)	(96,840)	(99,774)
Forfeited (in shares)	(3,034)	(9,657)	(1,346)
Outstanding, end of period (in shares)	158,382	175,431	188,648
Weighted-Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share)	$ 30.40	$ 29.55	$ 25.26
Granted (in dollars per shares)	34.22	30.22	37.49
Vested (in dollars per share)	30.51	28.91	25.19
Forfeited (in dollars per share)	35.88	27.02	31.22
Outstanding, end of period (in dollars per share)	$ 32.29	$ 30.40	$ 29.55

Income Taxes - Additional information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Expected reduction of unrecognized tax benefits	$ 0.1
Interest and penalties of unrecognized tax benefits	$ 0.0	$ 0.0	$ 0.0

Employee Benefit Plans

12 Months Ended

Dec. 31, 2019

Employee Benefit Plans

Employee Benefit Plans

15. Employee Benefit Plans

The Company sponsors multiple defined contribution plans for eligible employees not covered by collective bargaining agreements. The plans include various features such as voluntary employee pre-tax and Roth-based contributions and matching contributions made by the Company. In addition, at the discretion of our Board of Directors, we may make additional profit sharing contributions to the plans. Company contributions under these defined contribution plans are based upon a percentage of income with limitations as defined by each plan. Total contributions for the years ended December 31, 2019, 2018 and 2017 amounted to $10.9 million, $5.8 million, and $4.1 million, respectively. The increase in contributions for the year ended December 31, 2019 was due to an increase in profit sharing and the acquisition of CSI.

The Company contributes to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees, who are represented by more than 100 local unions. The related collective-bargaining agreements between those organizations and the Company, which specify the rate at which the Company must contribute to the multi-employer defined pension plan, expire at different times between 2020 and 2022.

The risks of participating in these multiemployer defined benefit pension plans are different from single-employer plans in the following aspects:

Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers.

If a participating employer stops contributing to a plan, the unfunded obligations of the plan may be borne by the remaining participating employers.

If the Company chooses to stop participating in a multiemployer plan, it may be required to pay the plan an amount based on the underfunded status of the plan, referred to as a withdrawal liability.

The amount of additional funds, if any, that the Company may be obligated to contribute to these plans in the future cannot be estimated due to uncertainty of the future levels of work that require the specific use of union employees covered by these plans, as well as the future contribution levels and possible surcharges on contributions applicable to these plans.

The following table summarizes plan information relating to the Company’s participation in multi-employer defined benefit pension plans, including company contributions for the last three years, the status under the Pension Protection Act of 2006, as amended by the Consolidated and Further Continuing Appropriations Act of 2015 (“PPA”) of the plans and whether the plans are subject to a funding improvement or rehabilitation plan, or contribution surcharges. The most recent zone status is for the plan’s year-end indicated in the table. The zone status is based on information that the Company received from the plan, as well as from publicly available information on the U.S. Department of Labor website. The PPA zone status for the plan year ended on December 31, 2019 has not been listed because Forms 5500 were not yet available. Among other factors, plans in the red “critical” zone are generally less than 65 percent funded, plans in the yellow “endangered” zone are between 65 and 80 percent funded, and plans in the green zone are at least 80 percent funded. Also listed in the table below are the Company’s contributions to defined contribution plans. Information in the table has been presented separately for individually significant plans and in the aggregate for all other plans.

EIN/Pension

Contributions to Plan for the

Funding

Surcharge

Pension Fund

Plan Number

Pension Protection Act Zone Status

Year Ended December 31,

Plan

Imposed

Plan Year

Status

End

Status

End

2019

2018

2017

(in thousands)

Defined Benefit Plans:

Southern California IBEW-NECA Pension Trust Fund

95-6392774 001

Yellow

6/30/2018

Yellow

6/30/2017

14,268

767

435

Yes

National Electrical Benefit Fund

53-0181657 001

Green

12/31/2018

Green

12/31/2017

11,050

9,840

9,542

Eighth District Electrical Pension Fund

84-6100393 001

Green

3/31/2019

Green

3/31/2018

11,199

9,707

7,908

IBEW Local 769 Management Pension Plan A

86-6049763 001

Green

6/30/2018

Green

6/30/2017

2,689

2,587

2,115

IBEW Local No. 640 and Arizona NECA Defined Benefit Pension Plan

86-0323980 001

Green

12/31/2018

Green

12/31/2017

2,397

1,629

—

Indiana/Kentucky/Ohio Regional Council of Carpenters Pension Fund

51-6123713 001

Green

6/30/2018

Green

6/30/2017

1,742

1,157

2,515

Alaska Electrical Pension Plan

92-6005171 001

Green

12/31/2018

Green

12/31/2017

1,408

2,723

1,951

Defined Contribution Plans:

National Electrical Annuity Plan

52-6132372 001

n/a

28,822

26,559

27,633

n/a

Eighth District Electrical Pension Fund Annuity Plan

84-6100393 002

n/a

5,339

4,785

4,109

n/a

All other plans:

23,295

10,666

8,680

Total contributions:

102,209

70,420

64,888

Total contributions to these plans, at any given time, correspond to the number of union employees employed and the plans in which they participate, which varies depending upon location, the number of ongoing projects and the need for union resources in connection with such projects at a given time. The PPA data presented in the table above represents data available to us for the two most recent plan years.

One of the Company’s subsidiaries was also in the Eighth District Electrical Pension Fund’s Form 5500 as providing more than five percent of the total contributions to that plan for the plan years ended March 31, 2019, 2018 and 2017, in the IBEW local 769 Management Pension Plan A’s Form 5500 as providing more than five percent of the total contributions to that plan for the plan years ended June 30, 2018 and 2017 and in the IBEW Local No. 640 and Arizona NECA Defined Benefit Pension Plan’s Form 5500 as providing more than five percent of the total contributions to that plan for the plan years ended December 31, 2018 and 2017.

Employee Benefit Plans - Summary of multi-employer benefit plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Significant multiemployer plans
Contributions to Plan	$ 102,209	$ 70,420	$ 64,888
Multiemployer Plans, Pension [Member] \| Southern California IBEW-NECA Pension Trust Fund [Member]
Significant multiemployer plans
Contributions to Plan	14,268	767	435
Multiemployer Plans, Pension [Member] \| National Electrical Benefit Fund [Member]
Significant multiemployer plans
Contributions to Plan	11,050	9,840	9,542
Multiemployer Plans, Pension [Member] \| Eighth District Electrical Pension Fund [Member]
Significant multiemployer plans
Contributions to Plan	11,199	9,707	7,908
Multiemployer Plans, Pension [Member] \| IBEW Local 769 Management Pension Plan A [Member]
Significant multiemployer plans
Contributions to Plan	2,689	2,587	2,115
Multiemployer Plans, Pension [Member] \| IBEW Local No. 640 and Arizona NECA Defined Benefit Pension Plan [Member]
Significant multiemployer plans
Contributions to Plan	2,397	1,629	0
Multiemployer Plans, Pension [Member] \| Indiana/Kentucky/Ohio Regional Council of Carpenters Pension Fund [Member]
Significant multiemployer plans
Contributions to Plan	1,742	1,157	2,515
Multiemployer Plans, Pension [Member] \| Alaska Electrical Pension Plan [Member]
Significant multiemployer plans
Contributions to Plan	1,408	2,723	1,951
Multiemployer Plans, Postretirement Benefit [Member] \| National Electrical Annuity Plan [Member]
Significant multiemployer plans
Contributions to Plan	28,822	26,559	27,633
Multiemployer Plans, Postretirement Benefit [Member] \| Eighth District Electrical Pension Fund Annuity Plan [Member]
Significant multiemployer plans
Contributions to Plan	5,339	4,785	4,109
Multiemployer Plans Other Pension Post Retirement And Supplemental Plans [Member] \| All other plans [Member]
Significant multiemployer plans
Contributions to Plan	$ 23,295	$ 10,666	$ 8,680

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets

Goodwill and Intangible Assets

8. Goodwill and Intangible Assets

Goodwill and intangible assets consisted of the following at December 31:


	2019						2018
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
(in thousands)	Amount		Amortization		Amount		Amount		Amortization		Amount
Goodwill
T&D	$	40,224	$	—	$	40,224	$	40,224	$	—	$	40,224
C&I		25,836		—		25,836		16,364		—		16,364
Total goodwill	$	66,060	$	—	$	66,060	$	56,588	$	—	$	56,588
Amortizable Intangible Assets
Backlog	$	5,289	$	4,039	$	1,250	$	2,789	$	1,889	$	900
Customer relationships		31,381		6,623		24,758		17,280		4,970		12,310
Trade names		695		218		477		695		172		523
Indefinite-lived Intangible Assets
Trade names		28,455		—		28,455		19,533		—		19,533
Total intangible assets	$	65,820	$	10,880	$	54,940	$	40,297	$	7,031	$	33,266

The increase in goodwill as of December 31, 2019 compared to December 31, 2018 was primarily due to the allocation of $9.5 million of goodwill related to the acquisition of CSI identified during the ongoing analysis of the purchase accounting. The increase in intangible assets also related to the acquisition of CSI and are being amortized on a straight-line basis over periods ranging up to 12 years. Additional financial information related to this acquisition is provided in Note 2 –Acquisitions to the Financial Statements. Immaterial foreign currency translation adjustments related to goodwill and intangible assets are netted with the amounts indicated above.

Customer relationships and backlog are being amortized on a straight-line method over an estimated useful life ranging up to 12.5 years and the remaining life of the contract, respectively, and have been determined to have no residual value. Amortizable trade names are being amortized on a straight-line basis over an estimated useful life of approximately 15 years. Certain trade names have indefinite lives and, therefore, are not being amortized. Intangible asset amortization expense was $3.8 million, $1.8 million and $0.5 million for the years ended December 31, 2019, 2018 and 2017, respectively.

As of December 31, 2019, estimated future intangible asset amortization expense for the each of the next five years and thereafter was as follows:


	Future
	Amortization
(in thousands)	Expense
2020	$	3,587
2021		2,312
2022		2,312
2023		2,312
2024		2,312
Thereafter		13,650
Total	$	26,485

Income Taxes - Summary of income before income taxes by geographical area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes
Federal	$ 46,445	$ 48,393	$ 33,830
Foreign	3,997	(5,325)	(9,190)
Income before provision for income taxes	$ 50,442	$ 43,068	$ 24,640

Lease Obligations - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating And Finance Leases [Line Items]
Additional right of use lease assets	$ 22,958		$ 0
Additional operating lease liabilities	16,884		0
Minimum lease payments required	29,514
Capital lease obligations outstanding			2,700
Current portion of capital lease obligations			1,100
Leased assets capitalized			$ 2,600
Subsidiaries [Member] \| Employees [Member]
Operating And Finance Leases [Line Items]
Minimum lease payments required	$ 4,500
Lease amortization period	4 years 6 months
Accounting Standards Update 2016-02 [Member]
Operating And Finance Leases [Line Items]
Additional right of use lease assets		$ 15,100
Additional operating lease liabilities		$ 15,100

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Employee Benefit Plans

Schedule of individually significant multi-employer plans and in aggregate other plans

EIN/Pension

Contributions to Plan for the

Funding

Surcharge

Pension Fund

Plan Number

Pension Protection Act Zone Status

Year Ended December 31,

Plan

Imposed

Plan Year

Status

End

Status

End

2019

2018

2017

(in thousands)

Defined Benefit Plans:

Southern California IBEW-NECA Pension Trust Fund

95-6392774 001

Yellow

6/30/2018

Yellow

6/30/2017

14,268

767

435

Yes

National Electrical Benefit Fund

53-0181657 001

Green

12/31/2018

Green

12/31/2017

11,050

9,840

9,542

Eighth District Electrical Pension Fund

84-6100393 001

Green

3/31/2019

Green

3/31/2018

11,199

9,707

7,908

IBEW Local 769 Management Pension Plan A

86-6049763 001

Green

6/30/2018

Green

6/30/2017

2,689

2,587

2,115

IBEW Local No. 640 and Arizona NECA Defined Benefit Pension Plan

86-0323980 001

Green

12/31/2018

Green

12/31/2017

2,397

1,629

—

Indiana/Kentucky/Ohio Regional Council of Carpenters Pension Fund

51-6123713 001

Green

6/30/2018

Green

6/30/2017

1,742

1,157

2,515

Alaska Electrical Pension Plan

92-6005171 001

Green

12/31/2018

Green

12/31/2017

1,408

2,723

1,951

Defined Contribution Plans:

National Electrical Annuity Plan

52-6132372 001

n/a

28,822

26,559

27,633

n/a

Eighth District Electrical Pension Fund Annuity Plan

84-6100393 002

n/a

5,339

4,785

4,109

n/a

All other plans:

23,295

10,666

8,680

Total contributions:

102,209

70,420

64,888

Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt

Schedule of total debt

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


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

Credit Agreement
Revolving loans	9/13/2019	Variable		Variable	5	$	103,820	$	58,306

Equipment Notes
Equipment Note 1	9/28/2018	4.16	%	Semi-annual	5		10,643		12,655
Equipment Note 2	9/28/2018	4.23	%	Semi-annual	7		11,200		12,279
Equipment Note 3	12/31/2018	3.97	%	Semi-annual	5		1,953		2,291
Equipment Note 4	12/31/2018	4.02	%	Semi-annual	7		2,108		2,313
Equipment Note 5	12/31/2018	4.01	%	Semi-annual	7		1,751		1,948
Equipment Note 6	6/25/2019	2.89	%	Semi-annual	7		14,286		—
Equipment Note 7	6/24/2019	3.09	%	Semi-annual	5		9,033		—
Equipment Note 8	12/27/2019	2.75	%	Semi-annual	5		6,496		—
Equipment Note 9	12/24/2019	3.01	%	Semi-annual	7		4,534		—
							62,004		31,486
Total debt							165,824		89,792
Less: current portion of long-term debt							(8,737)		(3,681)
Long-term debt						$	157,087	$	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 December 31, 2019:


	Future
	Equipment
	Notes Principal
(in thousands)	Payments
2020	$	8,737
2021		8,349
2022		8,645
2023		11,906
2024		8,923
Thereafter		15,444
Total future principal payments	$	62,004
Less: current portion of equipment notes		(8,737)
Long-term principal obligations	$	53,267

- 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

Commitments and Contingencies - Summary of accrued short- and long-term insurance liabilities (Details) - Insurance Claims [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accrued short- and long-term insurance liabilities
Balance at beginning of period	$ 54,039	$ 45,363	$ 42,584
Net increases in reserves	45,419	31,193	22,938
Net payments made	(32,654)	(22,517)	(20,159)
Balance at end of period	$ 66,804	$ 54,039	$ 45,363

Earnings Per Share - Additional information (Details) - Share Repurchase Program [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Line Items]
Stock repurchased during period (in shares)	23,103	32,857
Stock repurchased during period, values	$ 0.8	$ 1.0

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share.

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 was as follows:


	For the Year Ended December 31,
(in thousands, except per share data)	2019		2018		2017
Numerator:
Net income	$	36,214	$	31,294	$	21,154
Less: net income (loss) attributable to noncontrolling interest		(1,476)		207		—
Net income attributable to MYR Group Inc.	$	37,690	$	31,087	$	21,154
Denominator:
Weighted average common shares outstanding		16,587		16,441		16,273
Weighted average dilutive securities		112		144		223
Weighted average common shares outstanding, diluted		16,699		16,585		16,496
Net income per share attributable to MYR Group Inc.:
Basic	$	2.27	$	1.89	$	1.30
Diluted	$	2.26	$	1.87	$	1.28

Schedule of shared excluded from calculation of dilute securities

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

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2019	Feb. 28, 2020	Jun. 28, 2019
Document and Entity Information
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	MYR GROUP INC.
Entity Central Index Key	0000700923
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 506.5
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Trading Symbol	MYRG
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		16,657,072
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Shell Company	false

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2019

Property and Equipment

Schedule of property and equipment

Property and equipment consisted of the following at December 31:


	Estimated
	Useful Life
(dollars in thousands)	in Years		2019		2018
Land		—	$	9,301	$	8,475
Buildings and improvements		3 to 39		29,747		23,228
Construction equipment		3 to 12		403,217		371,941
Office equipment		3 to 10		15,944		11,743
				458,209		415,387
Less: accumulated depreciation and amortization				(272,865)		(253,495)
			$	185,344	$	161,892

Stock-Based Compensation

12 Months Ended

Dec. 31, 2019

Stock-Based Compensation

Stock-Based Compensation

14. 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 (Amended and Restated as of May 1, 2014) (the “2007 LTIP” and, collectively with the LTIP, the “Long-Term Incentive Plans“). Upon the adoption of the LTIP, awards were no longer granted under the 2007 LTIP. The LTIP was approved by our stockholders and 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 awards, (g) phantom stock, (h) stock bonuses, (i) dividend equivalents, or (j) any combination of such awards. The LTIP permits the granting of up to 900,000 shares to directors, officers and other employees of the Company. Grants of awards to employees are approved by the Compensation Committee of the Board of Directors and grants to independent members of the Board of Directors are approved by the Board of Directors. All awards are made with an exercise price or base price, as the case may be, that is not less than the full fair market value per share on the date of grant. No stock option or stock appreciation right may be exercised more than 10 years from the date of grant.

Shares issued as a result of stock option exercises or stock grants are made available from authorized unissued shares of common stock or treasury stock.

Stock Options

The Company has not awarded any stock options since 2013. Stock options granted to the Company’s employees or directors were granted with an exercise price equal to the market price of the Company’s stock on the date of grant. The Company used the Black-Scholes-Merton option-pricing model to estimate the fair value of options as of the date of grant. All stock options were fully expensed as of December 31, 2016.

Following is a summary of stock option activity for the three-year period ending December 31, 2019:


				Weighted-
		Weighted-		Average	Aggregate
		Average		Remaining	Intrinsic
		Exercise		Contractual	Value
	Options	Price		Term	(in thousands)
Outstanding at January 1, 2017	245,717	$	19.82
Exercised	(79,797)	$	15.43
Outstanding and Exercisable at December 31, 2017	165,920	$	21.92	4.2 years	$	2,292
Exercised	(88,053)	$	21.54
Expired	(1,103)	$	21.16
Outstanding and Exercisable at December 31, 2018	76,764	$	22.33	2.9 years	$	446
Exercised	(14,743)	$	23.16
Expired	(2,435)	$	19.86
Outstanding and Exercisable at December 31, 2019	59,586	$	22.26	2.2 years	$	352

During the years ended December 31, 2019, 2018 and 2017, the intrinsic value of stock options exercised was $0.2 million, $1.3 million and $1.7 million, respectively.

The following table summarizes information with respect to stock options outstanding and exercisable under the Company’s plans at December 31, 2019:


	Options Outstanding and Exercisable
				Weighted-
		Weighted-		Average
		Average		Remaining
	Number Of	Exercise		Contractual
Exercise Price	Options	Price		Term
$17.18 – $17.18	4,435	$	17.18	0.2 years
$17.48 – $17.48	14,232	$	17.48	2.2 years
$24.18 – $24.18	17,318	$	24.18	1.2 years
$24.68 – $24.68	23,601	$	24.68	3.2 years
	59,586	$	22.26	2.2 years

Time-Vested Stock Awards

The company grants time-vested stock awards under the LTIP in the form of restricted stock awards, restricted stock units or equity-settled phantom stock. The grant date fair value of the time-vested stock awards is equal to the closing market price of the Company’s common stock on the date of grant. Time-vested stock awards granted under the LTIP to eligible employees in 2019 generally vest ratably, on an annual basis, over three years. Time-vested stock awards granted under the LTIP to non-employee directors in 2019 vest over a one year period.

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, which is generally three years for time-vested stock awards granted to eligible employees and one year for non-employee directors.

During the years ended December 31, 2019, 2018 and 2017, time-vested stock vesting activity settled in common stock had an intrinsic value, at the time of vesting, of $3.4 million, $3.0 million and $3.8 million, respectively.

Following is a summary of time-vested stock awards activity for the three-year period ending December 31, 2019:


		Per Share
		Weighted-
		Average
		Grant Date
	Shares	Fair Value
Outstanding unvested at January 1, 2017	223,416	$	25.26
Granted	66,352	$	37.49
Vested	(99,774)	$	25.19
Forfeited	(1,346)	$	31.22
Outstanding unvested at December 31, 2017	188,648	$	29.55
Granted	93,280	$	30.22
Vested	(96,840)	$	28.91
Forfeited	(9,657)	$	27.02
Outstanding unvested at December 31, 2018	175,431	$	30.40
Granted	85,640	$	34.22
Vested	(99,655)	$	30.51
Forfeited	(3,034)	$	35.88
Outstanding unvested at December 31, 2019	158,382	$	32.29

Performance Awards

The Company grants performance awards under the LTIP. Under these awards, shares of the Company’s common stock may be earned based on the Company’s performance compared to defined metrics. The number of shares earned under a performance award may vary from zero to 200% of the target shares awarded, based upon the Company’s performance compared to the metrics. The metrics used for the grant are determined by the Compensation Committee of the Board of Directors and may be 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 at least the minimum stated performance targets and minimum service requirements and are paid in the Company’s common stock. During 2018, management concluded that it was probable that the minimum performance threshold would not be met for certain performance shares that were granted during 2017 and 2016. As a result , in the year ended December 31, 2018, the Company reversed $0.7 million in stock compensation from previous accruals.

For performance awards, the Company recognizes stock-based compensation expense based on the grant date fair value of the award. The fair value of internal metric-based performance awards is determined by the closing stock price of the Company’s common stock on the date of the grant. The fair value of market-based performance awards is computed using a Monte Carlo simulation. Performance awards are expensed over the service period of approximately 2.8 years. 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. Stock-based compensation expense related to market metric-based performance awards is expensed at their grant date fair value regardless of performance.

During the years ended December 31, 2019, 2018 and 2017, performance award vesting activity settled in common stock had an intrinsic value, at the time of vesting, of $0.2 million, $1.0 million and $1.3 million, respectively.

Following is a summary of performance share award activity for the three-year period ending December 31, 2019:


		Per Share
		Weighted-
		Average
		Grant Date
	Shares	Fair Value
Outstanding at January 1, 2017	144,023	$	32.92
Granted at target	47,454	$	47.12
Forfeited for performance below target	(24,873)	$	36.40
Vested	(39,407)	$	40.15
Forfeited	(222)	$	37.22
Outstanding at December 31, 2017	126,975	$	35.29
Granted at target	66,764	$	34.52
Forfeited for performance below target	(42,584)	$	29.73
Vested	(29,655)	$	33.35
Forfeited	(9,247)	$	30.85
Outstanding at December 31, 2018	112,253	$	39.73
Granted at target	72,932	$	39.26
Forfeited for performance below target	(36,581)	$	48.94
Vested	(8,854)	$	58.34
Forfeited	(1,505)	$	43.43
Outstanding at December 31, 2019	138,245	$	37.02

Stock-based Compensation Expense

The Company recognized stock-based compensation expense of approximately $4.4 million, $3.2 million and $4.4 million for the years ended December 31, 2019, 2018 and 2017, respectively, in selling, general and administrative expenses on the Company’s consolidated statements of operations. As of December 31, 2019, there was approximately $5.4 million of unrecognized stock-based compensation expense related to awards granted under the Plans. This included $2.8 million of unrecognized compensation cost related to unvested time-vested stock awards expected to be recognized over a remaining weighted average vesting period of approximately 1.6 years and $2.6 million of unrecognized compensation cost related to unvested performance awards, expected to be recognized over a remaining weighted average vesting period of approximately 1.5 years. Time-vested stock awards granted to non-employee directors in 2019 and 2018 vest at the end of a one year period and those granted prior to 2018 vest over a period of three years. The grant provision of the time-vested stock awards granted to non-employee directors prior to 2018 contained provisions that call for the vesting of all shares awarded upon a change in control or resignation from the board for any reason except breach of fiduciary duty. As a result of these provisions, the fair value of time-vested stock awards granted to all directors in 2017, was expensed on the date of the grant.

Income Taxes - Summary of income tax provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current
Federal	$ 6,976	$ 5,155	$ 7,020
State	3,562	3,310	1,557
Current income tax provision	10,538	8,465	8,577
Deferred
Federal	3,010	4,936	(1,453)
Foreign	874	(822)	(875)
State	(194)	(805)	(2,763)
Deferred income tax provision (benefit)	3,690	3,309	(5,091)
Income tax expense	$ 14,228	$ 11,774	$ 3,486

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Data (Unaudited)
Revenues	$ 571,075	$ 583,214	$ 448,776	$ 468,094	$ 446,345	$ 399,537	$ 339,676	$ 345,611	$ 2,071,159	$ 1,531,169	$ 1,403,317
Gross profit	68,922	59,197	43,163	42,876	47,391	45,286	38,630	35,753	214,158	167,060	125,004
Net income attributable to MYR Group	$ 12,775	$ 10,355	$ 7,207	$ 7,353	$ 10,651	$ 7,957	$ 6,835	$ 5,644	$ 37,690	$ 31,087	$ 21,154
Basic earnings per share attributable to MYR Group (in dollars per share)	$ 0.77	$ 0.62	$ 0.43	$ 0.45	$ 0.65	$ 0.48	$ 0.42	$ 0.35	$ 2.27	$ 1.89	$ 1.30
Diluted earnings per share attributable to MYR Group (in dollars per share)	$ 0.76	$ 0.62	$ 0.43	$ 0.44	$ 0.64	$ 0.48	$ 0.41	$ 0.34	$ 2.26	$ 1.87	$ 1.28

- Definition

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

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- 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.

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- Definition

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

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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
UNAUDITED CONSOLIDATED BALANCE SHEETS
Allowance for doubtful accounts receivable	$ 3,364	$ 1,331
Property and equipment, accumulated depreciation	272,865	253,495
Intangible assets, accumulated amortization	$ 10,880	$ 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)	16,648,616	16,564,961
Common stock, shares outstanding (in shares)	16,648,616	16,564,961

Organization, Business and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Organization, Business and Significant Accounting Policies
Organization, Business and Significant Accounting Policies	1. Organization, Business and Significant Accounting Policies Organization and Business MYR Group Inc. (the “Company”) is a holding company of specialty electrical construction service providers and is currently conducting operations through 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; CSI Electrical Contractors, 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, government agencies and developers. C&I provides a broad range of services, which include design, installation, maintenance and repair of commercial and industrial wiring, the installation of traffic networks and the installation of bridge, roadway and tunnel lighting. Significant Accounting Policies Consolidation The accompanying Financial Statements include the results of operations of the Company and its subsidiaries. Significant intercompany transactions and balances have been eliminated. Certain reclassifications were made to prior year amounts to conform to the current year presentation. Revenue Recognition On January 1, 2018, the Company adopted accounting standards update (“ASU”) No. 2014‑09, Revenue from Contracts with Customers (Topic 606) using the modified retrospective method for contracts that were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under this new pronouncement, while prior period amounts were not adjusted and continue to be reported under the accounting standard Revenue Recognition (Topic 605), which was in effect for those periods. Differences in revenue recognition under Topic 606 were due to accelerated recognition of contract provisions related to variable consideration previously not permitted to be recognized under Topic 605 until no remaining contingency existed related to this consideration. Under Topic 606, the Company recognizes revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for goods or services provided. Revenue associated with contracts with customers is recognized over time as the Company’s performance creates or enhances customer controlled assets or creates or enhances an asset with no alternative use, for which the Company has an enforceable right to receive compensation as defined under the contract. To determine the amount of revenue to recognize over time, the Company estimates profit by determining the difference between total estimated revenue and total estimated cost of a contract. In addition, the Company estimates a cost accrual every quarter that represents unbilled invoicing activity for services performed by subcontractors and suppliers during the quarter, 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. The estimated value of unbilled amounts are determined using a regression analysis that estimates value based on the Company’s historical experience, and is adjusted for large individual projects. The profit and corresponding revenue is recognized over the contract term based on costs incurred under the cost-to-cost method. The Company utilizes the cost-to-cost method as it believes cost incurred best represents the amount of work completed and remaining on projects, and is the most common basis for computing percentage of completion in the industry. For purposes of recognizing revenue, the Company follows the five-step approach outlined in Accounting Standards Codification (“ASC”) 606‑10‑25. As the cost-to-cost method is driven by incurred cost, the Company calculates the percentage of completion by dividing costs incurred to date by the total estimated cost. The percentage of completion is then multiplied by estimated revenues to determine inception-to-date revenue. Revenue recognized for the period is the current inception-to-date recognized revenue less the prior period inception-to-date recognized revenue. If a contract is projected to result in a loss, the entire contract loss is recognized in the period when the loss was first determined and the amount of the loss is updated in subsequent reporting periods. Because the Company’s billings are based on contract terms and do not coincide with our progress in a project, revenue recognition also includes an amount related to a contract asset or contract liability. If the recognized revenue is greater than the amount billed to the customer, a contract asset is recorded. Additionally, the contract asset includes retainage billed to the customer that cannot be collected until the contract work has been completed and approved. Conversely, if the amount billed to the customer is greater than the recognized revenue, a contract liability is recorded. Additionally, the contract liability includes a liability for the excess of costs over revenues for all contracts that are in a loss position. Contract costs incurred to date and expected total contract costs are continuously monitored during the term of the contract. Changes in the job performance, job conditions and final contract settlements are factors that influence management’s assessment of total contract value and the total estimated costs to complete those contracts, and therefore, profit and revenue recognition. Additionally, the Company estimates costs to complete on fixed price contracts which are determined on an individual contract basis by evaluating each project’s status as of the balance sheet date, and using our historical experience with the level of effort required to complete the underlying project. Claims and change orders are also measured based on our historical experience with individual customers and similar contracts, and are evaluated by management individually. A change order is a modification to a contract that changes the provisions of the contract, typically resulting from changes in scope, specifications, design, manner of performance, facilities, equipment, materials, sites, or period of completion of the work under the contract. A claim is an amount in excess of the agreed-upon contract price that the Company seeks to collect from its clients or others for client-caused delays, errors in specifications and designs, contract terminations, change orders that are either in dispute or are unapproved as to both scope and price, or other causes. The Company includes these estimated amounts of variable consideration to the extent that it is probable there will not be a significant reversal of revenue. Some of the Company’s contracts may have contract terms that include variable consideration such as safety or performance bonuses or liquidated damages. In accordance with ASC 606‑10‑32, the Company estimates the variable consideration using one of two methods. In contracts in which there is a binary outcome, the most likely amount method is used. In instances in which there is a range of possible outcomes, the expected value method is used. In accordance with ASC 606‑10‑32‑11, the Company includes the estimated amount of variable consideration in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative recognized revenue will not occur when the final outcome of the variable consideration is determined. In contracts in which a significant reversal may occur, the Company uses constraint in recognizing revenue on variable consideration. Although the Company often enters into contracts that contain liquidated damage clauses, the Company rarely incurs them, and as such, the Company does not include amounts associated with liquidated damage clauses until it is probable that liquidated damages will occur. These items are continually monitored by multiple levels of management throughout the reporting period. A portion of the work the Company performs requires financial assurances in the form of performance and payment bonds or letters of credit at the time of execution of the contract. Many of the Company’s contracts include retention provisions of up to 10%, which are generally withheld from each progress payment as retainage until the contract work has been completed and approved. The Company provides warranties to customers on a basis customary to the industry; however, the warranty period does not typically exceed one year. Historically, warranty claims have not been material to the Company. Total revenues do not include sales tax as the Company considers itself a pass-through conduit for collecting and remitting sales taxes. Sales tax and value added tax collected from customers is included in other current liabilities on the Company’s consolidated balance sheets. Prior to January 1, 2018 the Company reported revenue under the accounting standard Revenue Recognition (Topic 605), under which revenues from long-term contracts were accounted for using the percentage-of-completion method of accounting. Under the percentage-of-completion method, the Company estimated profit as the difference between total estimated revenue and total estimated cost of a contract and recognized that profit over the contract term based on costs incurred under the cost-to-cost method. Under Topic 605, revenues from the Company’s construction services were performed under fixed-price, time-and-equipment, time-and-materials, unit-price, and cost-plus fee contracts. For fixed-price and unit-price contracts, the Company used the ratio of cost incurred to date on the contract to management’s estimate of the contract’s total cost, to determine the percentage of completion on each contract. This method was used as management considered expended costs to be the best available measure of progression of these contracts. Contract cost included all direct costs on contracts, including labor and material, subcontractor costs and those indirect costs related to contract performance, such as supplies, fuel, tool repairs and depreciation. The Company recognized revenues from construction services with fees based on time-and-materials, or cost-plus fee as the services were performed and amounts were earned. If contracts included contract incentive or bonus provisions, they were included in estimated contract revenues only when the achievement of such incentive or bonus was reasonably certain. Under Topic 605, contract costs incurred to date and expected total contract costs were continuously monitored during the term of the contract. Changes in job performance, job conditions and final contract settlements were factors that influenced management’s assessment of total contract value and the total estimated costs to complete those contracts and therefore, the Company’s profit recognition. These changes, which included contracts with estimated costs in excess of estimated revenues, were recognized in contract costs in the period in which the revisions were determined. At the point the Company anticipated a loss on a contract, the Company estimated the ultimate loss through completion and recognized that loss in the period in which the possible loss was identified. Joint Ventures and Noncontrolling Interests The Company accounts for investments in joint ventures using the proportionate consolidation method for income statement reporting and under the equity method for balance sheet reporting, unless the Company has a controlling interest causing the joint venture to be consolidated with equity owned by other joint venture partners recorded as noncontrolling interests. Under the proportionate consolidation method, joint venture activity is allocated to the appropriate line items found on the consolidated statements of operations in proportion to the percentage of participation the Company has in the joint venture. Under the equity method the net investment in joint ventures is stated as a single item on the Company’s consolidated balance sheets. If an investment in a joint venture contains a recourse or unfunded commitments to provide additional equity, distributions and/or losses in excess of the investment a liability is recorded in other current liabilities on the Company's consolidated balance sheets. For joint ventures which the Company does not have a controlling interest, the Company’s share of any profits and assets and its share of any losses and liabilities are recognized based on the Company’s stated percentage partnership interest in the joint venture, and are normally recorded by the Company one month in arrears. The investments in joint ventures are recorded at cost and the carrying amounts are adjusted to recognize the Company’s proportionate share of cumulative income or loss, additional contributions made and dividends and capital distributions received. The Company records the effect of any impairment or any other-than-temporary decrease in the value of the joint venture investment as incurred, which may or may not be one month in arrears, depending on when the Company obtains the joint venture activity information. Additionally, the Company continually assesses the fair value of its investment in unconsolidated joint ventures despite using information that is one month in arrears for regular reporting purposes. The Company includes only its percentage ownership of each joint venture in its backlog. See Note 17—Noncontrolling Interests to the Financial Statements for further information related to joint ventures in which the Company has a majority controlling interest. 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 Company’s consolidated statements of operations. For the year ended December 31, 2019, the Company recorded foreign currency gains of approximately $0.1 million. Effective foreign currency transaction gains and losses, arising primarily from long-term assets and liabilities are recorded in the foreign currency translation adjustment line on the Company’s consolidated statements of comprehensive income. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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 on 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. Actual results could differ from these estimates. As of December 31, 2019 and 2018, the Company recognized revenues of $35.9 million and $3.4 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. These aggregate amounts, which were included in "Contract assets" in the accompanying consolidated balance sheets, represent the Company's estimates of additional contract revenues that were earned and probable of collection, however, the amount ultimately realized could be significantly higher or lower than the estimated amount. 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 year ended December 31, 2019, changes in estimates pertaining to certain projects decreased consolidated gross margin by 0.8%, which resulted in decreases in operating income of $11.7 million, net income attributable to MYR Group Inc. of $7.5 million and diluted earnings per common share attributable to MYR Group Inc. of $0.45. The estimates are reviewed and revised quarterly, as needed. During the year ended December 31, 2018, changes in estimates pertaining to certain projects decreased consolidated gross margin by 0.7%, which resulted in decreases in operating income of $10.5 million, net income attributable to MYR Group Inc. of $8.2 million and diluted earnings per common share attributable to MYR Group Inc. of $0.49. During the year ended December 31, 2017, changes in estimates pertaining to certain projects decreased consolidated gross margin by 0.7%, which resulted in decreases in operating income of $10.4 million, net income attributable to MYR Group Inc. of $6.2 million and diluted earnings per common share attributable to MYR Group Inc. of $0.38. Advertising Advertising costs are expensed when incurred. Advertising costs, included in selling, general and administrative expenses, were $0.8 million for the year ended December 31, 2019, and $0.7 million for the years ended December 31, 2018 and 2017, respectively. Income Taxes The Company follows the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recorded for future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and are measured using the enacted tax rates and laws that are expected to be in effect when the underlying assets or liabilities are recovered or settled. The Company also evaluates whether the recorded deferred tax assets and valuation allowances can be realized and, when necessary, reduces the amounts to what is expected to be realized. Interest and penalties related to uncertain income tax positions are included in income tax expense on the Company's consolidated statements of operations. Interest and penalties actually incurred are charged to interest expense and the "other income, net " line, respectively. Stock-Based Compensation The Company determines compensation expense for stock-based awards based on the estimated fair values at the grant date and recognize the related compensation expense over the vesting period. The Company uses the straight-line amortization method to recognize compensation expense related to stock-based awards, such as restricted stock, restricted stock units and phantom stock units, that have only service conditions. This method recognizes stock compensation expense on a straight-line basis over the requisite service period for the entire award. The Company recognizes compensation expense related to performance awards that vest based on internal performance metrics and service conditions on a straight-line basis over the service period, but adjust inception-to-date expense based upon our determination of the potential achievement of the performance target at each reporting date. The Company recognizes compensation expense related to performance awards with market-based performance metrics on a straight-line basis over the requisite service period. Upon adoption ASU No. 2016‑09, Compensation — Stock Compensation (Topic 718) in January of 2017, the Company elected to discontinue estimating future forfeitures and recognize forfeitures as they occur. Prior to the adoption, the Company used historical data to estimate the forfeiture rate applied to stock grants. Shares issued under the Company’s stock-based compensation program are taken out of authorized but unissued shares. Earnings Per Share The Company computes earnings per share 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 attributable to MYR Group Inc. by the weighted average number of common shares outstanding during the period. Diluted earnings per share attributable to MYR Group Inc. are computed by dividing net income attributable to MYR Group Inc. 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. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of December 31, 2019 and 2018, the Company held its cash in checking accounts or in highly liquid money market funds. The Company’s banking arrangements allow the Company to fund outstanding checks when presented to financial institutions for payment. The Company funds all intraday bank balances overdrafts during the same business day. Checks issued and outstanding in excess of bank balance are recorded in accounts payable on the Company’s consolidated balance sheets and are reflected as a financing activity on the Company’s Consolidated Statements of Cash Flows. Accounts Receivable and Allowance for Doubtful Accounts The Company does not charge interest to its customers and carries its customer receivables at their face amounts, less an allowance for doubtful accounts. Based on the Company’s experience in recent years, the majority of customer balances at each balance sheet date are collected within twelve months. As is common practice in the industry, the Company classifies all accounts receivable as current assets. The Company grants trade credit, on a non-collateralized basis (with the exception of lien rights against the property in certain cases), to its customers and is subject to potential credit risk related to changes in business and overall economic activity. The Company analyzes specific accounts receivable balances, historical bad debts, customer credit-worthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. In the event that a customer balance is deemed to be uncollectible, the account balance is written-off against the allowance for doubtful accounts. Classification of Contract Assets and Liabilities The Company recognizes revenue associated with its contracts with customers over time, for which the Company has an enforceable right to receive compensation. Many of our contracts contain specific provisions that determine when the Company can bill for its work performed under these contracts. Any revenue earned on a contract that has not yet been billed to the customer is recorded as a contract asset on the Company’s consolidated balance sheets. Contract retainages associated with contract work that has been completed and billed but not paid by its customers until the contracts are substantially complete, pursuant to contract retainage provisions under the contract, are also included in contract assets. The allowance for collection of contract retainage was not significant as of December 31, 2019 and 2018. The Company’s consolidated balance sheets present contract liabilities that contain deferred revenue that represent any costs incurred on contracts in process for which revenue has not yet been recognized. Additionally, accruals for contracts in a loss provision are included in contract liabilities. Property and Equipment Property and equipment is carried at cost. Depreciation is computed using the straight-line method over estimated useful lives. Major modifications or refurbishments which extend the useful life of the assets are capitalized and depreciated over the adjusted remaining useful life of the assets. Upon retirement or disposition of property and equipment, the cost and related accumulated depreciation are removed and any resulting gain or loss is recognized in income from operations. The cost of maintenance and repairs is charged to expense as incurred. Property and equipment is reviewed for impairment and tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value of property and equipment exceeds its fair value, an impairment charge would be recorded in the statement of operations. Leases 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. 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 seven 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 the 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. As of December 31, 2019, the Company had several leases with residual value guarantees, due to the acquisition of CSI. The total amount probable of being owed of residual leases guarantees is not significant. 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 on the Company’s consolidated 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 financing component associated with finance lease obligations is included in interest expense. Generally, for the Company's finance leases an implicit rate to calculate present value is provided in the lease agreement, however if a rate in not provided 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. Operating Right-of-Use Leases. Operating right-of-use leases are included in operating lease right-of-use assets, current portion of operating lease obligations and operating lease obligations, net of current maturities on the Company’s consolidated balance sheets, 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. Prior to January, 2019 the Company accounted for its leases in accordance with Leases (Topic 840). Leases with characteristics of operating leases were expensed on a straight-line basis over the life of the lease on the Company’s consolidated statements of operations. Leases with the characteristics of capital leases were recorded at fair value on the Company’s consolidated balance sheets. The asset portion was included in property and equipment on the Company’s consolidated balance sheets and was amortized as depreciation expense on the Company’s consolidated statements of operations. The liability portion was included on the Company’s consolidated balance sheets as current and long term portions of capital leases. These liabilities were amortized as interest expense and lease expense on the Company’s consolidated statements of operations. Insurance The Company carries insurance policies, which are subject to certain deductibles, for workers’ compensation, general liability, automobile liability and other coverages. The deductible for each line of coverage is up to $1.0 million, except for wildfire coverage which has a deductible of $2.0 million. Certain health benefit plans are subject to a deductible 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 assets on the Company’s consolidated balance sheets. Goodwill and Intangible Assets Goodwill and intangible assets with indefinite lives are not amortized. Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives. The Company reviews goodwill and intangible assets with indefinite lives for impairment on an annual basis at the beginning of the fourth quarter, or when circumstances change, such as a significant adverse change in the business climate or the decision to sell a business, both of which would indicate that impairment may have occurred. Intangible assets with finite lives are also reviewed for impairment and tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company may perform either a qualitative assessment or a two-step goodwill impairment test. The qualitative assessment considers financial, industry, segment and macroeconomic factors. If the qualitative assessment indicates a potential for impairment, the two-step method is used to determine if impairment exists. The two-step method begins with a comparison of the fair value of the reporting unit with its carrying value. If the carrying amount of the reporting unit exceeds its fair value, the second step of the process involves a comparison of the implied fair value and carrying value of the goodwill of that reporting unit. The company also performs a qualitative assessment on intangible assets with indefinite lives. If the qualitative assessment indicates a potential for impairment, a quantitative impairment test would be performed to compare the fair value of the indefinite-lived intangible asset with its carrying value. If the carrying value of goodwill or other indefinite-lived assets exceeds its implied fair value, an impairment charge would be recorded in the statement of operations. As a result of the annual qualitative review process in 2019 and 2017, the Company determined it was not necessary to perform a two-step analysis. In 2018, the Company performed a two-step analysis on goodwill and intangible assets with indefinite lives. The first step involves a comparison of the fair value of the reporting unit with its carrying value. If the carrying amount of the reporting unit exceeds its fair value, the second step of the process involves a comparison of the implied fair value and carrying value of the goodwill of that reporting unit. If the carrying value of goodwill exceeds its implied fair value, an impairment charge is recorded in the statement of operations. The step-one analysis did not indicate that the Company’s goodwill or indefinite-lived intangible assets were impaired. As a result, no step-two analysis was performed. Concentrations Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company maintains substantially all of its cash and cash equivalent balances with large financial institutions which are believed to be high quality institutions. The Company is subject to a concentration of risk because it derives a significant portion of its revenues from a few customers. The Company’s top ten customers accounted for approximately 30.8%, 32.9%, and 40.4% of consolidated revenues for the years ended December 31, 2019, 2018 and 2017, respectively. For the years ended December 31, 2019 and 2018, no single customer accounted for more than 10.0% of annual revenues. For the year ended December 31, 2017, one T&D customer accounted for 10.7% of our revenues. The Company grants trade credit under contractual payment terms, generally without collateral, to its customers, which include high credit quality electric utilities, governmental entities, general contractors and builders, owners and managers of commercial and industrial properties. Consequently, the Company is subject to potential credit risk related to changes in business and economic factors. However, the Company generally has certain statutory lien rights with respect to services provided. Under certain circumstances such as foreclosures or negotiated settlements, the Company may take title to the underlying assets in lieu of cash in settlement of receivables. As of December 31, 2019 and 2018, none of the Company's customers individually exceeded 10.0% of accounts receivable. The Company believes the terms and conditions in its contracts, billing and collection policies are adequate to minimize the potential credit risk. As of December 31, 2019, approximately 90% of the Company’s craft labor employees were covered by collective bargaining agreements. Although the majority of these agreements prohibit strikes and work stoppages, the Company cannot be certain that strikes or work stoppages will not occur in the future. Recent Accounting Pronouncements Changes to 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 may have minimal impact on its 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 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. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, which introduced an expected credit loss methodology for the measurement and recognition of credit losses on most financial instruments, including trade receivables and off-balance sheet credit exposures. Under this guidance, an entity is required to consider a broader range of information to estimate expected credit losses, which may result in earlier recognition of losses. This ASU also requires disclosure of information regarding how a company developed its allowance, including changes in the factors that influenced management’s estimate of expected credit losses and the reasons for those changes. The ASU and its related clarifying updates are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. The adoption of this standard will be through a cumulative-effect adjustment to retained earnings as of the effective date. Based on our historical experience, the Company does not expect that this pronouncement will have a significant impact in its financial statements or on the estimate of the allowance for uncollectable accounts. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements for Level 1, Level 2 and Level 3 instruments in the fair value hierarchy. The guidance is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted for any eliminated or modified disclosures. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements or disclosures. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistent application among reporting entities. The guidance is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years, with early adoption permitted. Upon adoption, the Company must apply certain aspects of this standard retrospectively for all periods presented while other aspects are applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company is evaluating the impact this update will have on its financial statements.

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Stock-Based Compensation

Schedule of stock option activity

Following is a summary of stock option activity for the three-year period ending December 31, 2019:


				Weighted-
		Weighted-		Average	Aggregate
		Average		Remaining	Intrinsic
		Exercise		Contractual	Value
	Options	Price		Term	(in thousands)
Outstanding at January 1, 2017	245,717	$	19.82
Exercised	(79,797)	$	15.43
Outstanding and Exercisable at December 31, 2017	165,920	$	21.92	4.2 years	$	2,292
Exercised	(88,053)	$	21.54
Expired	(1,103)	$	21.16
Outstanding and Exercisable at December 31, 2018	76,764	$	22.33	2.9 years	$	446
Exercised	(14,743)	$	23.16
Expired	(2,435)	$	19.86
Outstanding and Exercisable at December 31, 2019	59,586	$	22.26	2.2 years	$	352

Schedule of stock options outstanding and exercisable

The following table summarizes information with respect to stock options outstanding and exercisable under the Company’s plans at December 31, 2019:


	Options Outstanding and Exercisable
				Weighted-
		Weighted-		Average
		Average		Remaining
	Number Of	Exercise		Contractual
Exercise Price	Options	Price		Term
$17.18 – $17.18	4,435	$	17.18	0.2 years
$17.48 – $17.48	14,232	$	17.48	2.2 years
$24.18 – $24.18	17,318	$	24.18	1.2 years
$24.68 – $24.68	23,601	$	24.68	3.2 years
	59,586	$	22.26	2.2 years

Schedule of time-vested stock awards activity

Following is a summary of time-vested stock awards activity for the three-year period ending December 31, 2019:


		Per Share
		Weighted-
		Average
		Grant Date
	Shares	Fair Value
Outstanding unvested at January 1, 2017	223,416	$	25.26
Granted	66,352	$	37.49
Vested	(99,774)	$	25.19
Forfeited	(1,346)	$	31.22
Outstanding unvested at December 31, 2017	188,648	$	29.55
Granted	93,280	$	30.22
Vested	(96,840)	$	28.91
Forfeited	(9,657)	$	27.02
Outstanding unvested at December 31, 2018	175,431	$	30.40
Granted	85,640	$	34.22
Vested	(99,655)	$	30.51
Forfeited	(3,034)	$	35.88
Outstanding unvested at December 31, 2019	158,382	$	32.29

Schedule of performance share award activity

Following is a summary of performance share award activity for the three-year period ending December 31, 2019:


		Per Share
		Weighted-
		Average
		Grant Date
	Shares	Fair Value
Outstanding at January 1, 2017	144,023	$	32.92
Granted at target	47,454	$	47.12
Forfeited for performance below target	(24,873)	$	36.40
Vested	(39,407)	$	40.15
Forfeited	(222)	$	37.22
Outstanding at December 31, 2017	126,975	$	35.29
Granted at target	66,764	$	34.52
Forfeited for performance below target	(42,584)	$	29.73
Vested	(29,655)	$	33.35
Forfeited	(9,247)	$	30.85
Outstanding at December 31, 2018	112,253	$	39.73
Granted at target	72,932	$	39.26
Forfeited for performance below target	(36,581)	$	48.94
Vested	(8,854)	$	58.34
Forfeited	(1,505)	$	43.43
Outstanding at December 31, 2019	138,245	$	37.02

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Data (Unaudited)

Quarterly Financial Data (Unaudited)

19. Quarterly Financial Data (Unaudited)

The following table presents the unaudited consolidated operating results by quarter for the years ended December 31, 2019 and 2018:


	For the Three Months Ended
(in thousands, except per share data)	March 31,		June 30,		September 30,		December 31,
2019:
Revenues	$	468,094	$	448,776	$	583,214	$	571,075
Gross profit		42,876		43,163		59,197		68,922
Net income attributable to MYR Group		7,353		7,207		10,355		12,775
Basic earnings per share attributable to MYR Group(1)	$	0.45	$	0.43	$	0.62	$	0.77
Diluted earnings per share attributable to MYR Group(1)	$	0.44	$	0.43	$	0.62	$	0.76
2018:
Revenues	$	345,611	$	339,676	$	399,537	$	446,345
Gross profit		35,753		38,630		45,286		47,391
Net income attributable to MYR Group		5,644		6,835		7,957		10,651
Basic earnings per share attributable to MYR Group(1)	$	0.35	$	0.42	$	0.48	$	0.65
Diluted earnings per share attributable to MYR Group(1)	$	0.34	$	0.41	$	0.48	$	0.64

(1)

Earnings per share amounts for each quarter are required to be computed independently using the weighted average number of shares outstanding during the period. As a result, the sum of the individual quarterly earnings per share amounts may not agree to the earnings per share calculated for the year.

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Accrued Liabilities

Schedule of other current liabilities

Other current liabilities consisted of the following at December 31:


(in thousands)	2019		2018
Payroll and incentive compensation	$	22,645	$	21,641
Union dues and benefits		18,747		11,465
Taxes		6,790		7,999
Profit sharing and thrift plan		5,325		1,215
Net asset adjustments		987		11,210
Joint venture liability		652		—
Other		9,218		7,828
	$	64,364	$	61,358

Revenue Recognition

12 Months Ended

Dec. 31, 2019

Revenue Recognition

Revenue Recognition

11. 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 perform a defined scope of a 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 require the Company to 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 16 –Segment Information to the Financial Statements.

The components of the Company’s revenue by contract type were as follows for the year ended December 31:


	2019
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	564,251	49.7	%	$	704,743	75.2	%	$	1,268,994	61.3	%
Unit price		228,223	20.1			54,433	5.8			282,656	13.6
T&E		316,943	27.9			101,770	10.9			418,713	20.2
Other		24,994	2.3			75,802	8.1			100,796	4.9
	$	1,134,411	100.0	%	$	936,748	100.0	%	$	2,071,159	100.0	%


	2018
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	361,699	40.5	%	$	452,732	71.0	%	$	814,431	53.2	%
Unit Price		181,179	20.3			51,590	8.1			232,769	15.2
T&E		305,581	34.2			34,938	5.4			340,519	22.2
Other		44,649	5.0			98,801	15.5			143,450	9.4
	$	893,108	100.0	%	$	638,061	100.0	%	$	1,531,169	100.0	%

The components of the Company’s revenue by market type were as follows for the year ended December 31:


	2019					2018
(dollars in thousands)	Amount		Percent		Segment	Amount		Percent		Segment
Transmission	$	772,609	37.3	%	T&D	$	559,467	36.5	%	T&D
Distribution		361,802	17.5		T&D		333,641	21.8		T&D
Electrical construction		936,748	45.2		C&I		638,061	41.7		C&I
Total revenue	$	2,071,159	100.0	%		$	1,531,169	100.0	%

Remaining Performance Obligations

On December 31, 2019, the Company had $1.41 billion of remaining performance obligations. The Company’s remaining performance obligations includes 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.


	Remaining Performance Obligations as of
	December 31, 2019
			Amount estimated to
			not be recognized
(in thousands)	Total		within 12 months
T&D	$	381,850	$	45,678
C&I		1,027,193		260,837
Total	$	1,409,043	$	306,515

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 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this Annual Report.

Organization, Business and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Organization, Business and Significant Accounting Policies
Consolidation	Consolidation The accompanying Financial Statements include the results of operations of the Company and its subsidiaries. Significant intercompany transactions and balances have been eliminated. Certain reclassifications were made to prior year amounts to conform to the current year presentation.
Revenue Recognition	Revenue Recognition On January 1, 2018, the Company adopted accounting standards update (“ASU”) No. 2014‑09, Revenue from Contracts with Customers (Topic 606) using the modified retrospective method for contracts that were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under this new pronouncement, while prior period amounts were not adjusted and continue to be reported under the accounting standard Revenue Recognition (Topic 605), which was in effect for those periods. Differences in revenue recognition under Topic 606 were due to accelerated recognition of contract provisions related to variable consideration previously not permitted to be recognized under Topic 605 until no remaining contingency existed related to this consideration. Under Topic 606, the Company recognizes revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for goods or services provided. Revenue associated with contracts with customers is recognized over time as the Company’s performance creates or enhances customer controlled assets or creates or enhances an asset with no alternative use, for which the Company has an enforceable right to receive compensation as defined under the contract. To determine the amount of revenue to recognize over time, the Company estimates profit by determining the difference between total estimated revenue and total estimated cost of a contract. In addition, the Company estimates a cost accrual every quarter that represents unbilled invoicing activity for services performed by subcontractors and suppliers during the quarter, 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. The estimated value of unbilled amounts are determined using a regression analysis that estimates value based on the Company’s historical experience, and is adjusted for large individual projects. The profit and corresponding revenue is recognized over the contract term based on costs incurred under the cost-to-cost method. The Company utilizes the cost-to-cost method as it believes cost incurred best represents the amount of work completed and remaining on projects, and is the most common basis for computing percentage of completion in the industry. For purposes of recognizing revenue, the Company follows the five-step approach outlined in Accounting Standards Codification (“ASC”) 606‑10‑25. As the cost-to-cost method is driven by incurred cost, the Company calculates the percentage of completion by dividing costs incurred to date by the total estimated cost. The percentage of completion is then multiplied by estimated revenues to determine inception-to-date revenue. Revenue recognized for the period is the current inception-to-date recognized revenue less the prior period inception-to-date recognized revenue. If a contract is projected to result in a loss, the entire contract loss is recognized in the period when the loss was first determined and the amount of the loss is updated in subsequent reporting periods. Because the Company’s billings are based on contract terms and do not coincide with our progress in a project, revenue recognition also includes an amount related to a contract asset or contract liability. If the recognized revenue is greater than the amount billed to the customer, a contract asset is recorded. Additionally, the contract asset includes retainage billed to the customer that cannot be collected until the contract work has been completed and approved. Conversely, if the amount billed to the customer is greater than the recognized revenue, a contract liability is recorded. Additionally, the contract liability includes a liability for the excess of costs over revenues for all contracts that are in a loss position. Contract costs incurred to date and expected total contract costs are continuously monitored during the term of the contract. Changes in the job performance, job conditions and final contract settlements are factors that influence management’s assessment of total contract value and the total estimated costs to complete those contracts, and therefore, profit and revenue recognition. Additionally, the Company estimates costs to complete on fixed price contracts which are determined on an individual contract basis by evaluating each project’s status as of the balance sheet date, and using our historical experience with the level of effort required to complete the underlying project. Claims and change orders are also measured based on our historical experience with individual customers and similar contracts, and are evaluated by management individually. A change order is a modification to a contract that changes the provisions of the contract, typically resulting from changes in scope, specifications, design, manner of performance, facilities, equipment, materials, sites, or period of completion of the work under the contract. A claim is an amount in excess of the agreed-upon contract price that the Company seeks to collect from its clients or others for client-caused delays, errors in specifications and designs, contract terminations, change orders that are either in dispute or are unapproved as to both scope and price, or other causes. The Company includes these estimated amounts of variable consideration to the extent that it is probable there will not be a significant reversal of revenue. Some of the Company’s contracts may have contract terms that include variable consideration such as safety or performance bonuses or liquidated damages. In accordance with ASC 606‑10‑32, the Company estimates the variable consideration using one of two methods. In contracts in which there is a binary outcome, the most likely amount method is used. In instances in which there is a range of possible outcomes, the expected value method is used. In accordance with ASC 606‑10‑32‑11, the Company includes the estimated amount of variable consideration in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative recognized revenue will not occur when the final outcome of the variable consideration is determined. In contracts in which a significant reversal may occur, the Company uses constraint in recognizing revenue on variable consideration. Although the Company often enters into contracts that contain liquidated damage clauses, the Company rarely incurs them, and as such, the Company does not include amounts associated with liquidated damage clauses until it is probable that liquidated damages will occur. These items are continually monitored by multiple levels of management throughout the reporting period. A portion of the work the Company performs requires financial assurances in the form of performance and payment bonds or letters of credit at the time of execution of the contract. Many of the Company’s contracts include retention provisions of up to 10%, which are generally withheld from each progress payment as retainage until the contract work has been completed and approved. The Company provides warranties to customers on a basis customary to the industry; however, the warranty period does not typically exceed one year. Historically, warranty claims have not been material to the Company. Total revenues do not include sales tax as the Company considers itself a pass-through conduit for collecting and remitting sales taxes. Sales tax and value added tax collected from customers is included in other current liabilities on the Company’s consolidated balance sheets. Prior to January 1, 2018 the Company reported revenue under the accounting standard Revenue Recognition (Topic 605), under which revenues from long-term contracts were accounted for using the percentage-of-completion method of accounting. Under the percentage-of-completion method, the Company estimated profit as the difference between total estimated revenue and total estimated cost of a contract and recognized that profit over the contract term based on costs incurred under the cost-to-cost method. Under Topic 605, revenues from the Company’s construction services were performed under fixed-price, time-and-equipment, time-and-materials, unit-price, and cost-plus fee contracts. For fixed-price and unit-price contracts, the Company used the ratio of cost incurred to date on the contract to management’s estimate of the contract’s total cost, to determine the percentage of completion on each contract. This method was used as management considered expended costs to be the best available measure of progression of these contracts. Contract cost included all direct costs on contracts, including labor and material, subcontractor costs and those indirect costs related to contract performance, such as supplies, fuel, tool repairs and depreciation. The Company recognized revenues from construction services with fees based on time-and-materials, or cost-plus fee as the services were performed and amounts were earned. If contracts included contract incentive or bonus provisions, they were included in estimated contract revenues only when the achievement of such incentive or bonus was reasonably certain. Under Topic 605, contract costs incurred to date and expected total contract costs were continuously monitored during the term of the contract. Changes in job performance, job conditions and final contract settlements were factors that influenced management’s assessment of total contract value and the total estimated costs to complete those contracts and therefore, the Company’s profit recognition. These changes, which included contracts with estimated costs in excess of estimated revenues, were recognized in contract costs in the period in which the revisions were determined. At the point the Company anticipated a loss on a contract, the Company estimated the ultimate loss through completion and recognized that loss in the period in which the possible loss was identified.
Joint Ventures and Noncontrolling Interests	Joint Ventures and Noncontrolling Interests The Company accounts for investments in joint ventures using the proportionate consolidation method for income statement reporting and under the equity method for balance sheet reporting, unless the Company has a controlling interest causing the joint venture to be consolidated with equity owned by other joint venture partners recorded as noncontrolling interests. Under the proportionate consolidation method, joint venture activity is allocated to the appropriate line items found on the consolidated statements of operations in proportion to the percentage of participation the Company has in the joint venture. Under the equity method the net investment in joint ventures is stated as a single item on the Company’s consolidated balance sheets. If an investment in a joint venture contains a recourse or unfunded commitments to provide additional equity, distributions and/or losses in excess of the investment a liability is recorded in other current liabilities on the Company's consolidated balance sheets. For joint ventures which the Company does not have a controlling interest, the Company’s share of any profits and assets and its share of any losses and liabilities are recognized based on the Company’s stated percentage partnership interest in the joint venture, and are normally recorded by the Company one month in arrears. The investments in joint ventures are recorded at cost and the carrying amounts are adjusted to recognize the Company’s proportionate share of cumulative income or loss, additional contributions made and dividends and capital distributions received. The Company records the effect of any impairment or any other-than-temporary decrease in the value of the joint venture investment as incurred, which may or may not be one month in arrears, depending on when the Company obtains the joint venture activity information. Additionally, the Company continually assesses the fair value of its investment in unconsolidated joint ventures despite using information that is one month in arrears for regular reporting purposes. The Company includes only its percentage ownership of each joint venture in its backlog. See Note 17—Noncontrolling Interests to the Financial Statements for further information related to joint ventures in which the Company has a majority controlling interest.
Foreign Currency	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 Company’s consolidated statements of operations. For the year ended December 31, 2019, the Company recorded foreign currency gains of approximately $0.1 million. Effective foreign currency transaction gains and losses, arising primarily from long-term assets and liabilities are recorded in the foreign currency translation adjustment line on the Company’s consolidated statements of comprehensive income.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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 on 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. Actual results could differ from these estimates. As of December 31, 2019 and 2018, the Company recognized revenues of $35.9 million and $3.4 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. These aggregate amounts, which were included in "Contract assets" in the accompanying consolidated balance sheets, represent the Company's estimates of additional contract revenues that were earned and probable of collection, however, the amount ultimately realized could be significantly higher or lower than the estimated amount. 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 year ended December 31, 2019, changes in estimates pertaining to certain projects decreased consolidated gross margin by 0.8%, which resulted in decreases in operating income of $11.7 million, net income attributable to MYR Group Inc. of $7.5 million and diluted earnings per common share attributable to MYR Group Inc. of $0.45. The estimates are reviewed and revised quarterly, as needed. During the year ended December 31, 2018, changes in estimates pertaining to certain projects decreased consolidated gross margin by 0.7%, which resulted in decreases in operating income of $10.5 million, net income attributable to MYR Group Inc. of $8.2 million and diluted earnings per common share attributable to MYR Group Inc. of $0.49. During the year ended December 31, 2017, changes in estimates pertaining to certain projects decreased consolidated gross margin by 0.7%, which resulted in decreases in operating income of $10.4 million, net income attributable to MYR Group Inc. of $6.2 million and diluted earnings per common share attributable to MYR Group Inc. of $0.38.
Advertising	Advertising Advertising costs are expensed when incurred. Advertising costs, included in selling, general and administrative expenses, were $0.8 million for the year ended December 31, 2019, and $0.7 million for the years ended December 31, 2018 and 2017, respectively.
Income Taxes	Income Taxes The Company follows the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recorded for future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and are measured using the enacted tax rates and laws that are expected to be in effect when the underlying assets or liabilities are recovered or settled. The Company also evaluates whether the recorded deferred tax assets and valuation allowances can be realized and, when necessary, reduces the amounts to what is expected to be realized. Interest and penalties related to uncertain income tax positions are included in income tax expense on the Company's consolidated statements of operations. Interest and penalties actually incurred are charged to interest expense and the "other income, net " line, respectively.
Stock-Based Compensation	Stock-Based Compensation The Company determines compensation expense for stock-based awards based on the estimated fair values at the grant date and recognize the related compensation expense over the vesting period. The Company uses the straight-line amortization method to recognize compensation expense related to stock-based awards, such as restricted stock, restricted stock units and phantom stock units, that have only service conditions. This method recognizes stock compensation expense on a straight-line basis over the requisite service period for the entire award. The Company recognizes compensation expense related to performance awards that vest based on internal performance metrics and service conditions on a straight-line basis over the service period, but adjust inception-to-date expense based upon our determination of the potential achievement of the performance target at each reporting date. The Company recognizes compensation expense related to performance awards with market-based performance metrics on a straight-line basis over the requisite service period. Upon adoption ASU No. 2016‑09, Compensation — Stock Compensation (Topic 718) in January of 2017, the Company elected to discontinue estimating future forfeitures and recognize forfeitures as they occur. Prior to the adoption, the Company used historical data to estimate the forfeiture rate applied to stock grants. Shares issued under the Company’s stock-based compensation program are taken out of authorized but unissued shares.
Earnings Per Share	Earnings Per Share The Company computes earnings per share 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 attributable to MYR Group Inc. by the weighted average number of common shares outstanding during the period. Diluted earnings per share attributable to MYR Group Inc. are computed by dividing net income attributable to MYR Group Inc. 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.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of December 31, 2019 and 2018, the Company held its cash in checking accounts or in highly liquid money market funds. The Company’s banking arrangements allow the Company to fund outstanding checks when presented to financial institutions for payment. The Company funds all intraday bank balances overdrafts during the same business day. Checks issued and outstanding in excess of bank balance are recorded in accounts payable on the Company’s consolidated balance sheets and are reflected as a financing activity on the Company’s Consolidated Statements of Cash Flows.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts The Company does not charge interest to its customers and carries its customer receivables at their face amounts, less an allowance for doubtful accounts. Based on the Company’s experience in recent years, the majority of customer balances at each balance sheet date are collected within twelve months. As is common practice in the industry, the Company classifies all accounts receivable as current assets. The Company grants trade credit, on a non-collateralized basis (with the exception of lien rights against the property in certain cases), to its customers and is subject to potential credit risk related to changes in business and overall economic activity. The Company analyzes specific accounts receivable balances, historical bad debts, customer credit-worthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. In the event that a customer balance is deemed to be uncollectible, the account balance is written-off against the allowance for doubtful accounts.
Classification of Contract Assets and Liabilities	Classification of Contract Assets and Liabilities The Company recognizes revenue associated with its contracts with customers over time, for which the Company has an enforceable right to receive compensation. Many of our contracts contain specific provisions that determine when the Company can bill for its work performed under these contracts. Any revenue earned on a contract that has not yet been billed to the customer is recorded as a contract asset on the Company’s consolidated balance sheets. Contract retainages associated with contract work that has been completed and billed but not paid by its customers until the contracts are substantially complete, pursuant to contract retainage provisions under the contract, are also included in contract assets. The allowance for collection of contract retainage was not significant as of December 31, 2019 and 2018. The Company’s consolidated balance sheets present contract liabilities that contain deferred revenue that represent any costs incurred on contracts in process for which revenue has not yet been recognized. Additionally, accruals for contracts in a loss provision are included in contract liabilities.
Property and Equipment	Property and Equipment Property and equipment is carried at cost. Depreciation is computed using the straight-line method over estimated useful lives. Major modifications or refurbishments which extend the useful life of the assets are capitalized and depreciated over the adjusted remaining useful life of the assets. Upon retirement or disposition of property and equipment, the cost and related accumulated depreciation are removed and any resulting gain or loss is recognized in income from operations. The cost of maintenance and repairs is charged to expense as incurred. Property and equipment is reviewed for impairment and tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value of property and equipment exceeds its fair value, an impairment charge would be recorded in the statement of operations.
Leases	Leases 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. 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 seven 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 the 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. As of December 31, 2019, the Company had several leases with residual value guarantees, due to the acquisition of CSI. The total amount probable of being owed of residual leases guarantees is not significant. 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 on the Company’s consolidated 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 financing component associated with finance lease obligations is included in interest expense. Generally, for the Company's finance leases an implicit rate to calculate present value is provided in the lease agreement, however if a rate in not provided 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. Operating Right-of-Use Leases. Operating right-of-use leases are included in operating lease right-of-use assets, current portion of operating lease obligations and operating lease obligations, net of current maturities on the Company’s consolidated balance sheets, 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. Prior to January, 2019 the Company accounted for its leases in accordance with Leases (Topic 840). Leases with characteristics of operating leases were expensed on a straight-line basis over the life of the lease on the Company’s consolidated statements of operations. Leases with the characteristics of capital leases were recorded at fair value on the Company’s consolidated balance sheets. The asset portion was included in property and equipment on the Company’s consolidated balance sheets and was amortized as depreciation expense on the Company’s consolidated statements of operations. The liability portion was included on the Company’s consolidated balance sheets as current and long term portions of capital leases. These liabilities were amortized as interest expense and lease expense on the Company’s consolidated statements of operations.
Insurance	Insurance The Company carries insurance policies, which are subject to certain deductibles, for workers’ compensation, general liability, automobile liability and other coverages. The deductible for each line of coverage is up to $1.0 million, except for wildfire coverage which has a deductible of $2.0 million. Certain health benefit plans are subject to a deductible 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 assets on the Company’s consolidated balance sheets.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill and intangible assets with indefinite lives are not amortized. Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives. The Company reviews goodwill and intangible assets with indefinite lives for impairment on an annual basis at the beginning of the fourth quarter, or when circumstances change, such as a significant adverse change in the business climate or the decision to sell a business, both of which would indicate that impairment may have occurred. Intangible assets with finite lives are also reviewed for impairment and tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company may perform either a qualitative assessment or a two-step goodwill impairment test. The qualitative assessment considers financial, industry, segment and macroeconomic factors. If the qualitative assessment indicates a potential for impairment, the two-step method is used to determine if impairment exists. The two-step method begins with a comparison of the fair value of the reporting unit with its carrying value. If the carrying amount of the reporting unit exceeds its fair value, the second step of the process involves a comparison of the implied fair value and carrying value of the goodwill of that reporting unit. The company also performs a qualitative assessment on intangible assets with indefinite lives. If the qualitative assessment indicates a potential for impairment, a quantitative impairment test would be performed to compare the fair value of the indefinite-lived intangible asset with its carrying value. If the carrying value of goodwill or other indefinite-lived assets exceeds its implied fair value, an impairment charge would be recorded in the statement of operations. As a result of the annual qualitative review process in 2019 and 2017, the Company determined it was not necessary to perform a two-step analysis. In 2018, the Company performed a two-step analysis on goodwill and intangible assets with indefinite lives. The first step involves a comparison of the fair value of the reporting unit with its carrying value. If the carrying amount of the reporting unit exceeds its fair value, the second step of the process involves a comparison of the implied fair value and carrying value of the goodwill of that reporting unit. If the carrying value of goodwill exceeds its implied fair value, an impairment charge is recorded in the statement of operations. The step-one analysis did not indicate that the Company’s goodwill or indefinite-lived intangible assets were impaired. As a result, no step-two analysis was performed.
Concentrations	Concentrations Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company maintains substantially all of its cash and cash equivalent balances with large financial institutions which are believed to be high quality institutions. The Company is subject to a concentration of risk because it derives a significant portion of its revenues from a few customers. The Company’s top ten customers accounted for approximately 30.8%, 32.9%, and 40.4% of consolidated revenues for the years ended December 31, 2019, 2018 and 2017, respectively. For the years ended December 31, 2019 and 2018, no single customer accounted for more than 10.0% of annual revenues. For the year ended December 31, 2017, one T&D customer accounted for 10.7% of our revenues. The Company grants trade credit under contractual payment terms, generally without collateral, to its customers, which include high credit quality electric utilities, governmental entities, general contractors and builders, owners and managers of commercial and industrial properties. Consequently, the Company is subject to potential credit risk related to changes in business and economic factors. However, the Company generally has certain statutory lien rights with respect to services provided. Under certain circumstances such as foreclosures or negotiated settlements, the Company may take title to the underlying assets in lieu of cash in settlement of receivables. As of December 31, 2019 and 2018, none of the Company's customers individually exceeded 10.0% of accounts receivable. The Company believes the terms and conditions in its contracts, billing and collection policies are adequate to minimize the potential credit risk. As of December 31, 2019, approximately 90% of the Company’s craft labor employees were covered by collective bargaining agreements. Although the majority of these agreements prohibit strikes and work stoppages, the Company cannot be certain that strikes or work stoppages will not occur in the future.
Recent Accounting Pronouncements	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 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. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, which introduced an expected credit loss methodology for the measurement and recognition of credit losses on most financial instruments, including trade receivables and off-balance sheet credit exposures. Under this guidance, an entity is required to consider a broader range of information to estimate expected credit losses, which may result in earlier recognition of losses. This ASU also requires disclosure of information regarding how a company developed its allowance, including changes in the factors that influenced management’s estimate of expected credit losses and the reasons for those changes. The ASU and its related clarifying updates are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. The adoption of this standard will be through a cumulative-effect adjustment to retained earnings as of the effective date. Based on our historical experience, the Company does not expect that this pronouncement will have a significant impact in its financial statements or on the estimate of the allowance for uncollectable accounts. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements for Level 1, Level 2 and Level 3 instruments in the fair value hierarchy. The guidance is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted for any eliminated or modified disclosures. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements or disclosures. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistent application among reporting entities. The guidance is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years, with early adoption permitted. Upon adoption, the Company must apply certain aspects of this standard retrospectively for all periods presented while other aspects are applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company is evaluating the impact this update will have on its financial statements.
Fair Value Measurements	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.

Debt

12 Months Ended

Dec. 31, 2019

Debt

Debt

10. Debt

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


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

Credit Agreement
Revolving loans	9/13/2019	Variable		Variable	5	$	103,820	$	58,306

Equipment Notes
Equipment Note 1	9/28/2018	4.16	%	Semi-annual	5		10,643		12,655
Equipment Note 2	9/28/2018	4.23	%	Semi-annual	7		11,200		12,279
Equipment Note 3	12/31/2018	3.97	%	Semi-annual	5		1,953		2,291
Equipment Note 4	12/31/2018	4.02	%	Semi-annual	7		2,108		2,313
Equipment Note 5	12/31/2018	4.01	%	Semi-annual	7		1,751		1,948
Equipment Note 6	6/25/2019	2.89	%	Semi-annual	7		14,286		—
Equipment Note 7	6/24/2019	3.09	%	Semi-annual	5		9,033		—
Equipment Note 8	12/27/2019	2.75	%	Semi-annual	5		6,496		—
Equipment Note 9	12/24/2019	3.01	%	Semi-annual	7		4,534		—
							62,004		31,486
Total debt							165,824		89,792
Less: current portion of long-term debt							(8,737)		(3,681)
Long-term debt						$	157,087	$	86,111

Credit Agreement

On September 13, 2019, the Company entered into a five-year amended and restated credit agreement (the “Credit Agreement”) with a syndicate of banks led by JPMorgan Chase Bank, N.A. and Bank of America, N.A, that provides for a $375 million facility (the “Facility”), which can be used for revolving loans and up to $150 million may be used for letters of credit. 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 $75 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 $200 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 refinancing existing indebtedness, working capital, capital expenditures, acquisitions 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 0.75%; or (2) Adjusted LIBO Rate (as defined in the Credit Agreement) plus an applicable margin ranging from 1.00% to 1.75%. 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 (as defined in the Credit Agreement) 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 1.00% to 1.75% for non-performance letters of credit or 0.50% to 0.875% for performance letters of credit, based on the Company’s consolidated Leverage Ratio. The Company is subject to a commitment fee of 0.15% to 0.25%, 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 2.50 or the Company's consolidated Liquidity (as defined in the Credit Agreement) is less than $50 million. The weighted average interest rate on borrowings outstanding on the Facility for the year ended December 31, 2019 was 3.34% 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. The Company was in compliance with all of its financial covenants under the Credit Agreement as of December 31, 2019.

As of December 31, 2019, the Company had letters of credit outstanding under the Facility of approximately $10.6 million, including $10.0 million related to the Company’s payment obligation under its insurance programs and approximately $0.6 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 $1.4 million as of December 31, 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. Unamortized deferred debt issuance costs totaling $0.4 million relating to our previous credit agreement will be amortized over the life of the Credit Agreement.

Equipment Notes

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

As of December 31, 2019, the Company had nine Equipment Notes outstanding under the Master Loan Agreement 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 December 31, 2019:


	Future
	Equipment
	Notes Principal
(in thousands)	Payments
2020	$	8,737
2021		8,349
2022		8,645
2023		11,906
2024		8,923
Thereafter		15,444
Total future principal payments	$	62,004
Less: current portion of equipment notes		(8,737)
Long-term principal obligations	$	53,267

Segment Information

12 Months Ended

Dec. 31, 2019

Segment Information

Segment Information

16. 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 includes safety costs, professional fees, IT expenses and management fees.

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 including 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, renewable energy projects, 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 information in the following table is derived from the segment’s internal financial reports used for corporate management purposes:


	For the Year Ended December 31,
(in thousands)	2019		2018		2017
Contract revenues:
T&D	$	1,134,411	$	893,108	$	879,372
C&I		936,748		638,061		523,945
	$	2,071,159	$	1,531,169	$	1,403,317
Income from operations:
T&D	$	73,580	$	57,242	$	39,631
C&I		30,506		34,112		25,048
General Corporate		(46,908)		(41,042)		(35,121)
	$	57,178	$	50,312	$	29,558

The Company does not identify capital expenditures and total assets by segment in its internal financial reports due in part to the shared use of a centralized fleet of vehicles and specialized equipment. Identifiable assets, consisting of contract receivables, contract assets, construction materials inventory, goodwill and intangibles for each segment are as follows as of December 31:


(in thousands)	2019		2018
T&D	$	306,226	$	274,038
C&I		414,264		257,049
General Corporate		287,381		217,668
	$	1,007,871	$	748,755

An allocation of total depreciation, including depreciation of shared construction equipment, and amortization to each segment is as follows:


	For the Year Ended December 31,
(in thousands)	2019		2018		2017
Depreciation and amortization
T&D	$	35,711	$	33,977	$	34,990
C&I		8,805		5,936		3,586
	$	44,516	$	39,913	$	38,576

For the years ended December 31, 2019, 2018 and 2017 the Company had Canadian contract revenues of $79.5 million, $53.8 million and $84.1 million, respectively. Canadian contract revenues for the years ended December 31, 2019, 2018 and 2017 were predominantly in the C&I segment. As of December 31, 2019 and 2018, there were $24.8 million and $20.5 million, respectively, of identifiable assets attributable to Canadian operations.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
Contract revenues	$ 2,071,159	$ 1,531,169	$ 1,403,317
Contract costs	1,857,001	1,364,109	1,278,313
Gross profit	214,158	167,060	125,004
Selling, general and administrative expenses	156,674	118,737	98,611
Amortization of intangible assets	3,849	1,843	499
Gain on sale of property and equipment	(3,543)	(3,832)	(3,664)
Income from operations	57,178	50,312	29,558
Other income (expense):
Interest income	4	24	4
Interest expense	(6,225)	(3,652)	(2,603)
Other income (expense), net	(515)	(3,616)	(2,319)
Income before income tax expense	50,442	43,068	24,640
Income tax expense	14,228	11,774	3,486
Net income	36,214	31,294	21,154
Less: net income (loss) attributable to noncontrolling interest	(1,476)	207	0
Net income attributable to MYR Group Inc.	$ 37,690	$ 31,087	$ 21,154
Income per common share attributable to MYR Group Inc.:
Basic (in dollars per share)	$ 2.27	$ 1.89	$ 1.30
Diluted (in dollars per share)	$ 2.26	$ 1.87	$ 1.28
Weighted average number of common shares and potential common shares outstanding:
Basic (in shares)	16,587	16,441	16,273
Diluted (in shares)	16,699	16,585	16,496
Net income	$ 36,214	$ 31,294	$ 21,154
Other comprehensive income (loss):
Foreign currency translation adjustment	(253)	106	134
Other comprehensive income (loss)	(253)	106	134
Total comprehensive income	35,961	31,400	21,288
Less: net income (loss) attributable to noncontrolling interest	(1,476)	207	0
Total comprehensive income attributable to MYR Group Inc.	$ 37,437	$ 31,193	$ 21,288

Lease Obligations - Summary of other and supplemental cash flow information related to leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Other information:
Operating cash flow from operating leases	$ 7,337
Right-of-use asset obtained in exchange for new operating lease obligations	$ 13,301

Revenue Recognition - Summary of remaining performance obligations (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total, Remaining Performance Obligations	$ 1,410,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
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	$ 1,409,043
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
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	$ 306,515
T&D [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
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	$ 381,850
T&D [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
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	$ 45,678
C&I [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
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	$ 1,027,193
C&I [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
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	$ 260,837

Debt - Additional information (Details) $ in Millions		12 Months Ended
Debt - Additional information (Details) $ in Millions	Sep. 13, 2019 USD ($)	Dec. 31, 2019 USD ($) item	Dec. 31, 2018 USD ($)
Secured Debt [Member] \| Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument term	5 years
Maximum borrowing capacity	$ 375.0
Option to increase borrowing capacity	$ 200.0
Percentage of capital stock from direct foreign subsidiaries	65.00%
Debt instrument covenant leveraged debt ratio restriction		2.50
Interest rate on borrowings outstanding		3.34%
Leverage coverage ratio		3.0
Interest coverage ratio		3.0
Debt instrument restricted maximum liquidity		$ 50.0
Deferred debt issuance costs		1.4
Unamortized deferred debt issuance costs		0.4
Secured Debt [Member] \| Credit Agreement [Member] \| Canada, Dollars [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 75.0
Secured Debt [Member] \| Credit Agreement [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 150.0
Letters of credit outstanding		$ 10.6	$ 21.2
Secured Debt [Member] \| Credit Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Commitment fee on unused capacity		0.25%
Secured Debt [Member] \| Credit Agreement [Member] \| Maximum [Member] \| Performance letters of credit [Member]
Debt Instrument [Line Items]
Letter of credit facility commitment percentage		0.875%
Secured Debt [Member] \| Credit Agreement [Member] \| Maximum [Member] \| Non-performance Letters Of Credit [Member]
Debt Instrument [Line Items]
Letter of credit facility commitment percentage		1.75%
Secured Debt [Member] \| Credit Agreement [Member] \| Maximum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate margin		1.75%
Secured Debt [Member] \| Credit Agreement [Member] \| Maximum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Interest rate margin		0.75%
Secured Debt [Member] \| Credit Agreement [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Commitment fee on unused capacity		0.15%
Secured Debt [Member] \| Credit Agreement [Member] \| Minimum [Member] \| Performance letters of credit [Member]
Debt Instrument [Line Items]
Letter of credit facility commitment percentage		0.50%
Secured Debt [Member] \| Credit Agreement [Member] \| Minimum [Member] \| Non-performance Letters Of Credit [Member]
Debt Instrument [Line Items]
Letter of credit facility commitment percentage		1.00%
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%
Secured Debt [Member] \| Insurance Program Obligations [Member] \| Credit Agreement [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Letters of credit outstanding		$ 10.0	17.6
Secured Debt [Member] \| Contract Performance Obligations [Member] \| Credit Agreement [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Letters of credit outstanding		$ 0.6	$ 3.6
Notes Payable to Banks [Member] \| Master Loan Agreement [Member]
Debt Instrument [Line Items]
Number of equipment notes (equipment note) \| item		9

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies

Commitments and Contingencies

13. Commitments and Contingencies

Purchase Commitments

As of December 31, 2019, the Company had approximately $5.4 million in outstanding purchase orders for certain construction equipment, with cash outlay scheduled to occur over the next three 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 coverages. 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 total assets on the Company's consolidated balance sheets. The following table includes the Company’s accrued short- and long-term insurance liabilities at December 31:


(in thousands)	2019		2018		2017
Balance at beginning of period	$	54,039	$	45,363	$	42,584
Net increases in reserves		45,419		31,193		22,938
Net payments made		(32,654)		(22,517)		(20,159)
Balance at end of period	$	66,804	$	54,039	$	45,363

Insurance expense, including premiums, for workers’ compensation, general liability, automobile liability, employee health benefits, and other coverages for the years ended December 31, 2019, 2018 and 2017 was $48.5 million, $30.4 million and $29.5 million, respectively.

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 December 31, 2019, an aggregate of approximately $902.0 million in original face amount of bonds issued by the Company’s sureties were outstanding. Our estimated remaining cost to complete these bonded projects was approximately $399.2 million as of December 31, 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 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 its wholly owned subsidiaries, which reduces the borrowing availability under our 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, 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

Most 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 status of some multi-employer pension plans to which its subsidiaries contribute have been classified as “critical” the Company is not currently aware of any potential liabilities related to this issue. See Note 15 — Employee Benefit Plans to the Financial Statements for further information related to the Company’s participation in multi-employer plans.

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. 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 operation or cash flows.

The Company is routinely subject to other civil claims, litigation and arbitration, and regulatory investigations arising in the ordinary course of our present business as well as in respect of our divested businesses. Some of these claims and litigations include claims related to the Company’s current services and operations, the Company believes that it has strong defenses to these claims as well as insurance coverages that could contribute to any settlement or liability in the event claims are not resolved in our favor. These claims have not had a material impact on the Company to date, and the Company believes that the likelihood that a future material adverse outcome will result from these claims is remote. However, if facts and circumstances change in the future, the Company cannot be certain that an adverse outcome of one or more of these claims would not have a material adverse effect on the Company’s financial condition, results of operations or cash flows.

Lease Obligations - Schedule of future minimum lease payments under ASC 840 (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Future minimum lease payments under previous ASC 840 guidance
2019	$ 4,829
2020	3,754
2021	2,971
2022	2,379
2023	1,335
Thereafter	2,127
Total minimum lease payments	$ 17,395

Contract Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Contract Assets and Liabilities

Schedule of contract assets and liabilities from contracts with customers

Contract assets consisted of the following at December 31:


(in thousands)	2019		2018		Change
Unbilled revenue	$	126,087	$	111,153	$	14,934
Contract retainages, net		91,022		49,128		41,894
Contract assets	$	217,109	$	160,281	$	56,828

Contract liabilities consisted of the following at December 31:


(in thousands)	2019		2018		Change
Deferred revenue	$	102,673	$	57,051	$	45,622
Accrued loss provision		2,813		1,483		1,330
Contract liabilities	$	105,486	$	58,534	$	46,952

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


(in thousands)	2019		2018		Change
Contract assets	$	217,109	$	160,281	$	56,828
Contract liabilities		(105,486)		(58,534)		(46,952)
Net contract assets (liabilities)	$	111,623	$	101,747	$	9,876

Schedule of net asset position for contracts in process

The net asset position for contracts in process consisted of the following at December 31:


(in thousands)	2019		2018
Costs and estimated earnings on uncompleted contracts	$	3,532,886	$	2,718,713
Less: billings to date		3,509,472		2,664,611
	$	23,414	$	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 at December 31:


(in thousands)	2019		2018
Unbilled revenue	$	126,087	$	111,153
Deferred revenue		(102,673)		(57,051)
	$	23,414	$	54,102

Contract Assets and Liabilities

12 Months Ended

Dec. 31, 2019

Contract Assets and Liabilities

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 contains unbilled revenue (previously identified as costs and estimated earnings in excess of billings) 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 December 31, 2019 and 2018.

Contract assets consisted of the following at December 31:


(in thousands)	2019		2018		Change
Unbilled revenue	$	126,087	$	111,153	$	14,934
Contract retainages, net		91,022		49,128		41,894
Contract assets	$	217,109	$	160,281	$	56,828

The Company’s consolidated balance sheets present contract liabilities which contains deferred revenue (previously identified as billings in excess of costs and estimated earnings on uncompleted contracts) and an accrual for contracts in a loss provision.

Contract liabilities consisted of the following at December 31:


(in thousands)	2019		2018		Change
Deferred revenue	$	102,673	$	57,051	$	45,622
Accrued loss provision		2,813		1,483		1,330
Contract liabilities	$	105,486	$	58,534	$	46,952

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


(in thousands)	2019		2018		Change
Contract assets	$	217,109	$	160,281	$	56,828
Contract liabilities		(105,486)		(58,534)		(46,952)
Net contract assets (liabilities)	$	111,623	$	101,747	$	9,876

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 along with contract assets and contract liabilities acquired in the CSI acquisition. The amounts of revenues recognized in the period that were included in the opening contract liability balances were $39.2 million and $21.3 million for the year ended December 31, 2019 and 2018, respectively. This revenue consists primarily of work performed on previous billings to customers.

The net asset position for contracts in process consisted of the following at December 31:


(in thousands)	2019		2018
Costs and estimated earnings on uncompleted contracts	$	3,532,886	$	2,718,713
Less: billings to date		3,509,472		2,664,611
	$	23,414	$	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 at December 31:


(in thousands)	2019		2018
Unbilled revenue	$	126,087	$	111,153
Deferred revenue		(102,673)		(57,051)
	$	23,414	$	54,102

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2019
Fair Value Measurements
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 December 31, 2019 and 2018, the Company determined that the carrying value of cash and cash equivalents approximated fair value based on Level 1 inputs. As of December 31, 2019 and 2018, the fair value 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 December 31, 2019 and 2018. Long-term debt with variable interest rates was based on rates 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 capital lease obligations and long term debt with fixed interest rates 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

Lease Obligations - Schedule of future minimum lease payments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finance Lease Obligations
2020	$ 1,167
2021	341
2022	0
2023	0
2024	0
Thereafter	0
Total minimum lease payments	1,508
Financing component	(35)
Net present value of minimum lease payments	1,473
Less: current portion of finance and operating lease obligations	(1,135)	$ (1,119)
Long-term finance and operating lease obligations	338	1,514
Operating Lease Obligations
2020	8,431
2021	7,335
2022	5,999
2023	4,123
2024	1,978
Thereafter	1,648
Total minimum lease payments	29,514
Financing component	(6,425)
Net present value of minimum lease payments	23,089
Less: current portion of finance and operating lease obligations	(6,205)	0
Long-term finance and operating lease obligations	16,884	$ 0
Total Lease Obligations
2020	9,598
2021	7,676
2022	5,999
2023	4,123
2024	1,978
Thereafter	1,648
Total minimum lease payments	31,022
Financing component	(6,460)
Net present value of minimum lease payments	24,562
Less: current portion of finance and operating lease obligations	(7,340)
Long-term finance and operating lease obligations	$ 17,222

Segment Information - Summary of segment's internal financial reports (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Contract revenues	$ 571,075	$ 583,214	$ 448,776	$ 468,094	$ 446,345	$ 399,537	$ 339,676	$ 345,611	$ 2,071,159	$ 1,531,169	$ 1,403,317
Income from operations									57,178	50,312	29,558
T&D [Member]
Segment Reporting Information [Line Items]
Contract revenues									1,134,411	893,108	879,372
Income from operations									73,580	57,242	39,631
C&I [Member]
Segment Reporting Information [Line Items]
Contract revenues									936,748	638,061	523,945
Income from operations									30,506	34,112	25,048
General Corporate [Member]
Segment Reporting Information [Line Items]
Income from operations									$ (46,908)	$ (41,042)	$ (35,121)

Acquisitions - Summary of acquisition by acquisition (Details) - USD ($) $ in Thousands			6 Months Ended	12 Months Ended	18 Months Ended
	Jul. 15, 2019	Jul. 02, 2018	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill			$ 66,060	$ 66,060	$ 66,060	$ 56,588
CSI Electrical Contractors, Inc [Member]
Business Acquisition [Line Items]
Consideration paid	$ 79,720			79,720
Net asset adjustments	633			987
Total consideration, net of net asset adjustments	80,353			80,707
Accounts receivable, net	59,579		59,765	59,765	59,765
Contract assets	38,970		39,964	39,964	39,964
Other current assets	83		83	83	83
Property and equipment	7,964		7,964	7,964	7,964
Operating lease right-of-use assets	9,933		9,933	9,933	9,933
Intangible assets	26,000		25,500	25,500	25,500
Other long term assets	149		149	149	149
Accounts payable	(29,533)		(30,633)	(30,633)	(30,633)
Accrued salaries and benefits	(8,091)		(8,091)	(8,091)	(8,091)
Contract liabilities	(18,934)		(18,734)	(18,734)	(18,734)
Current portion of operating lease obligations	(2,526)		(2,562)	(2,562)	(2,562)
Other current liabilities	(4,776)		(4,703)	(4,703)	(4,703)
Operating lease obligations, net of current maturities	(7,407)		(7,371)	(7,371)	(7,371)
Long-term debt	(20)		(20)	(20)	(20)
Net identifiable assets and liabilities	71,391		71,244	71,244	71,244
Goodwill	$ 8,962		9,463	9,463	9,463
Consideration paid			0
Net asset adjustments			354
Total consideration, net of net asset adjustments			354
Accounts receivable, net			186
Contract assets			994
Other current and long term assets			0
Property and equipment			0
Operating lease right-of-use assets			0
Intangible assets			(500)
Other long term assets			0
Accounts payable			(1,100)
Accrued salaries and benefits			0
Contract liabilities			200
Current portion of operating lease obligations, Measurement Period Adjustments			(36)
Other current liabilities			73
Operating lease obligations, net of current maturities, Measurement Period Adjustments			36
Net identifiable assets and liabilities			(147)
Unallocated intangible assets			0
Goodwill			501
Huen Electric Inc [Member]
Business Acquisition [Line Items]
Consideration paid		$ 47,082			47,082
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	33,696	33,696
Contract assets		10,570	11,580	11,580	11,580
Other current and long term assets		88	77	77	77
Property and equipment		3,188	3,188	3,188	3,188
Intangible assets		0	24,300	24,300	24,300
Accounts payable		(9,592)	(10,866)	(10,866)	(10,866)
Contract liabilities		(6,394)	(5,869)	(5,869)	(5,869)
Other current liabilities		(6,570)	(6,521)	(6,521)	(6,521)
Net identifiable assets and liabilities		25,193	49,585	49,585	49,585
Unallocated intangible assets		9,800	0	0	0
Total acquired assets and liabilities		34,993	49,585	49,585	49,585
Fair value of acquired noncontrolling interest		(1,273)	(1,280)	(1,280)	(1,280)
Goodwill		$ 24,111	$ 9,611	$ 9,611	9,611
Consideration paid					0
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)

Lease Obligations (Tables)

12 Months Ended

Dec. 31, 2019

Lease Obligations

Summary of the lease-related assets and liabilities

The following is a summary of the lease-related assets and liabilities recorded as of December 31, 2019:


(in thousands)	Classification on the Consolidated Balance Sheet
Assets
Operating lease right-of-use assets	Operating lease right-of-use assets		$	22,958
Finance lease right-of-use assets	Property and equipment, net of accumulated depreciation			1,478
Total right-of-use lease assets			$	24,436

Liabilities
Current
Operating lease obligations		Current portion of operating lease obligations	$	6,205
Finance lease obligations		Current portion of finance lease obligations		1,135
Total current obligations				7,340
Non-current
Operating lease obligations		Operating lease obligations, net of current maturities		16,884
Finance lease obligations		Finance lease obligations, net of current maturities		338
Total non-current obligations				17,222
Total lease obligations			$	24,562

Summary of the lease terms and discount rates

The following is a summary of the lease terms and discount rates as of December 31, 2019:


Weighted-average remaining lease term - finance leases	1.4 years
Weighted-average remaining lease term - operating leases	3.9 years
Weighted-average discount rate - finance leases	2.5	%
Weighted-average discount rate - operating leases	3.8	%

Schedule of lease costs

The following is a summary of certain information related to the lease costs for finance and operating leases for the year ended December 31, 2019:


(in thousands)	Year ended December 31,
Lease cost:	2019
Finance lease cost:
Amortization of right-of-use assets	$	820
Interest on lease liabilities		66
Operating lease cost		7,282
Short-term lease cost		8
Variable lease costs		284
Total lease cost	$	8,460

Summary of supplemental cash flow information

The following is a summary of other information and supplemental cash flow information related to finance and operating leases for the year ended December 31, 2019:


(in thousands)
Other information:
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	7,337
Right-of-use asset obtained in exchange for new operating lease obligations	$	13,301

Schedule of future minimum finance lease payments

The future undiscounted minimum lease payments, as reconciled to the discounted minimum lease obligation indicated on the Company’s consolidated balance sheets, under current portion of operating lease obligations, current portion of finance lease obligations, and operating lease obligations, net of current maturities, as of December 31, 2019 were as follows:


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

2020	$	1,167	$	8,431	$	9,598
2021		341		7,335		7,676
2022		—		5,999		5,999
2023		—		4,123		4,123
2024		—		1,978		1,978
Thereafter		—		1,648		1,648
Total minimum lease payments		1,508		29,514		31,022
Financing component		(35)		(6,425)		(6,460)
Net present value of minimum lease payments		1,473		23,089		24,562
Less: current portion of finance and operating lease obligations		(1,135)		(6,205)		(7,340)
Long-term finance and operating lease obligations	$	338	$	16,884	$	17,222

Schedule of future minimum operating lease payments


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

2020	$	1,167	$	8,431	$	9,598
2021		341		7,335		7,676
2022		—		5,999		5,999
2023		—		4,123		4,123
2024		—		1,978		1,978
Thereafter		—		1,648		1,648
Total minimum lease payments		1,508		29,514		31,022
Financing component		(35)		(6,425)		(6,460)
Net present value of minimum lease payments		1,473		23,089		24,562
Less: current portion of finance and operating lease obligations		(1,135)		(6,205)		(7,340)
Long-term finance and operating lease obligations	$	338	$	16,884	$	17,222

Schedule of future minimum lease payments required under operating leases under previous ASC 840 guidance

The future minimum lease payments required under operating leases as of December 31, 2018 as reported in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 under previous ASC 840 guidance were as follows:


	Operating
(in thousands)	Lease Obligations

2019	$	4,829
2020		3,754
2021		2,971
2022		2,379
2023		1,335
Thereafter		2,127
Total minimum lease payments	$	17,395

Lease Obligations - Summary of lease related costs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Lease cost:
Amortization of right-of-use assets	$ 820
Interest on lease liabilities	66
Operating lease cost	7,282
Short-term lease cost	8
Variable lease costs	284
Total lease cost	$ 8,460

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Acquisitions

Schedule of acquisitions

The following table summarizes the allocation of the opening balance sheet from the date of the CSI acquisition:



	(as of		Measurement
	acquisition date)		Period		Final Acquisition
(in thousands)	July 15, 2019		Adjustments		Allocation
Consideration paid	$	79,720	$	—	$	79,720
Net asset adjustments		633		354		987
Total consideration, net of net asset adjustments	$	80,353	$	354	$	80,707

Accounts receivable, net	$	59,579	$	186	$	59,765
Contract assets		38,970		994		39,964
Other current assets		83		—		83
Property and equipment		7,964		—		7,964
Operating lease right-of-use assets		9,933		—		9,933
Intangible assets		26,000		(500)		25,500
Other long term assets		149		—		149
Accounts payable		(29,533)		(1,100)		(30,633)
Accrued salaries and benefits		(8,091)		—		(8,091)
Contract liabilities		(18,934)		200		(18,734)
Current portion of operating lease obligations		(2,526)		(36)		(2,562)
Other current liabilities		(4,776)		73		(4,703)
Operating lease obligations, net of current maturities		(7,407)		36		(7,371)
Long-term debt		(20)		—		(20)
Net identifiable assets and liabilities		71,391		(147)		71,244
Goodwill	$	8,962	$	501	$	9,463

The following table summarizes the allocation of the opening balance sheet from the date of the Huen acquisition:


	(as of		Measurement
	acquisition date)		Period		Final Acquisition
(in thousands)	July 2, 2018		Adjustments		Allocation
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 liabilites		25,193		24,392		49,585
Unallocated intangible assets		9,800		(9,800)		—
Total aquired assets and liabilites		34,993		14,592		49,585
Fair value of aquired noncontrolling interests		(1,273)		(7)		(1,280)
Goodwill	$	24,111	$	(14,500)	$	9,611

Schedule of supplemental pro forma financial information

Future results may vary significantly from the results reflected in the following pro forma financial information because of future events and transactions, as well as other factors:


	Year ended December 31,
(in thousands, except per share data)	2019		2018
	(unaudited)		(unaudited)
Contract revenues	$	2,243,224	$	1,833,645
Net income	$	39,552	$	33,165
Net income attributable to MYR Group, Inc.	$	41,028	$	32,958
Income per common share attributable to MYR Group Inc.:
– Basic	$	2.47	$	2.00
– Diluted	$	2.46	$	1.99
Weighted average number of common shares and potential common shares outstanding:
– Basic		16,587		16,441
– Diluted		16,699		16,585

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								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net income									$ 36,214	$ 31,294	$ 21,154
Less: net income (loss) attributable to noncontrolling interest									(1,476)	207	0
Net income attributable to MYR Group Inc.	$ 12,775	$ 10,355	$ 7,207	$ 7,353	$ 10,651	$ 7,957	$ 6,835	$ 5,644	$ 37,690	$ 31,087	$ 21,154
Denominator:
Weighted average common shares outstanding (in shares)									16,587	16,441	16,273
Weighted average dilutive securities (in shares)									112	144	223
Weighted average common shares outstanding, diluted (in shares)									16,699	16,585	16,496
Net income per share attributable to MYR Group Inc.:
Basic (in dollars per share)	$ 0.77	$ 0.62	$ 0.43	$ 0.45	$ 0.65	$ 0.48	$ 0.42	$ 0.35	$ 2.27	$ 1.89	$ 1.30
Diluted (in dollars per share)	$ 0.76	$ 0.62	$ 0.43	$ 0.44	$ 0.64	$ 0.48	$ 0.41	$ 0.34	$ 2.26	$ 1.87	$ 1.28

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 36,214	$ 31,294	$ 21,154
Adjustments to reconcile net income to net cash flows provided by (used in) operating activities:
Depreciation and amortization of property and equipment	40,667	38,070	38,077
Amortization of intangible assets	3,849	1,843	499
Stock-based compensation expense	4,403	3,165	4,376
Deferred income taxes	3,602	3,649	(5,091)
Gain on sale of property and equipment	(3,543)	(3,832)	(3,664)
Other non-cash items	1,029	237	1,194
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	(39,710)	(15,871)	(35,944)
Contract assets	(16,443)	(28,141)	(17,857)
Receivable for insurance claims in excess of deductibles	(9,646)	(9,229)	(39)
Other assets	(10,327)	2,280	(2,213)
Accounts payable	22,492	19,953	8,149
Contract liabilities	28,163	22,551	(14,317)
Accrued self-insurance	12,755	8,701	2,765
Other liabilities	(8,606)	10,119	(6,287)
Net cash flows provided by (used in) operating activities	64,899	84,789	(9,198)
Cash flows from investing activities:
Proceeds from sale of property and equipment	4,051	4,583	4,342
Cash paid for acquisitions, net of cash acquired	(79,720)	(47,082)	0
Purchases of property and equipment	(57,828)	(50,704)	(30,843)
Net cash flows used in investing activities	(133,497)	(93,203)	(26,501)
Cash flows from financing activities:
Net borrowings (repayments) under revolving lines of credit	45,514	(20,655)	19,890
Payment of principal obligations under equipment notes	(4,550)	0	0
Payment of principal obligations under finance leases	(1,201)	(1,081)	(1,203)
Borrowings under equipment notes	35,068	31,486	0
Proceeds from exercise of stock options	341	1,897	1,232
Debt refinancing costs	(1,122)	0	0
Repurchase of common shares	(778)	(1,043)	(3,058)
Other financing activities	84	38	28
Net cash flows provided by financing activities	73,356	10,642	16,889
Effect of exchange rate changes on cash	132	(64)	307
Net increase (decrease) in cash and cash equivalents	4,890	2,164	(18,503)
Cash and cash equivalents:
Beginning of period	7,507	5,343	23,846
End of period	12,397	7,507	5,343
Cash paid during the period for:
Income taxes payments	13,381	7,247	6,597
Interest payments	5,737	3,097	2,259
Noncash investing activities:
Acquisition of property and equipment for which payment is pending	$ 43	$ 953	$ 2,050

Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Information

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:


	For the Year Ended December 31,
(in thousands)	2019		2018		2017
Contract revenues:
T&D	$	1,134,411	$	893,108	$	879,372
C&I		936,748		638,061		523,945
	$	2,071,159	$	1,531,169	$	1,403,317
Income from operations:
T&D	$	73,580	$	57,242	$	39,631
C&I		30,506		34,112		25,048
General Corporate		(46,908)		(41,042)		(35,121)
	$	57,178	$	50,312	$	29,558

Schedule of assets allocation by segment

Identifiable assets, consisting of contract receivables, contract assets, construction materials inventory, goodwill and intangibles for each segment are as follows as of December 31:


(in thousands)	2019		2018
T&D	$	306,226	$	274,038
C&I		414,264		257,049
General Corporate		287,381		217,668
	$	1,007,871	$	748,755

Schedule of depreciation and amortization by segment

An allocation of total depreciation, including depreciation of shared construction equipment, and amortization to each segment is as follows:


	For the Year Ended December 31,
(in thousands)	2019		2018		2017
Depreciation and amortization
T&D	$	35,711	$	33,977	$	34,990
C&I		8,805		5,936		3,586
	$	44,516	$	39,913	$	38,576

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets

Schedule of goodwill and intangible assets

Goodwill and intangible assets consisted of the following at December 31:


	2019						2018
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
(in thousands)	Amount		Amortization		Amount		Amount		Amortization		Amount
Goodwill
T&D	$	40,224	$	—	$	40,224	$	40,224	$	—	$	40,224
C&I		25,836		—		25,836		16,364		—		16,364
Total goodwill	$	66,060	$	—	$	66,060	$	56,588	$	—	$	56,588
Amortizable Intangible Assets
Backlog	$	5,289	$	4,039	$	1,250	$	2,789	$	1,889	$	900
Customer relationships		31,381		6,623		24,758		17,280		4,970		12,310
Trade names		695		218		477		695		172		523
Indefinite-lived Intangible Assets
Trade names		28,455		—		28,455		19,533		—		19,533
Total intangible assets	$	65,820	$	10,880	$	54,940	$	40,297	$	7,031	$	33,266

Schedule of estimated future intangible asset amortization expense

As of December 31, 2019, estimated future intangible asset amortization expense for the each of the next five years and thereafter was as follows:


	Future
	Amortization
(in thousands)	Expense
2020	$	3,587
2021		2,312
2022		2,312
2023		2,312
2024		2,312
Thereafter		13,650
Total	$	26,485

Stock-Based Compensation - Summary of stock option activity (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Options
Outstanding, beginning of period (in shares)	76,764	165,920	245,717
Exercised (in shares)	(14,743)	(88,053)	(79,797)
Expired (in shares)	(2,435)	(1,103)
Outstanding, end of period (in shares)	59,586	76,764	165,920
Weighted-Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 22.33	$ 21.92	$ 19.82
Exercised (in dollars per share)	23.16	21.54	15.43
Expired (in dollars per share)	19.86	21.16
Outstanding, end of period (in dollars per share)	$ 22.26	$ 22.33	$ 21.92
Term and Intrinsic Value
Outstanding Weighted Average Remaining Contractual Term	2 years 2 months 12 days	2 years 10 months 24 days	4 years 2 months 12 days
Outstanding, Aggregate Intrinsic Value	$ 352	$ 446	$ 2,292

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Data (Unaudited)

Schedule of unaudited consolidated operating results by quarter

The following table presents the unaudited consolidated operating results by quarter for the years ended December 31, 2019 and 2018:


	For the Three Months Ended
(in thousands, except per share data)	March 31,		June 30,		September 30,		December 31,
2019:
Revenues	$	468,094	$	448,776	$	583,214	$	571,075
Gross profit		42,876		43,163		59,197		68,922
Net income attributable to MYR Group		7,353		7,207		10,355		12,775
Basic earnings per share attributable to MYR Group(1)	$	0.45	$	0.43	$	0.62	$	0.77
Diluted earnings per share attributable to MYR Group(1)	$	0.44	$	0.43	$	0.62	$	0.76
2018:
Revenues	$	345,611	$	339,676	$	399,537	$	446,345
Gross profit		35,753		38,630		45,286		47,391
Net income attributable to MYR Group		5,644		6,835		7,957		10,651
Basic earnings per share attributable to MYR Group(1)	$	0.35	$	0.42	$	0.48	$	0.65
Diluted earnings per share attributable to MYR Group(1)	$	0.34	$	0.41	$	0.48	$	0.64

(1)

Income Taxes - Summary of net deferred tax assets and (liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax assets:
Self insurance reserves	$ 4,458	$ 4,299
Contract loss reserves	642	350
Stock-based awards	1,164	1,143
Bonus	4,904	3,271
Operating lease liabilities	5,850	0
Non-U.S. operating loss	5,499	5,641
Other	3,439	1,958
Total deferred income tax assets before valuation allowances	25,956	16,662
Less: valuation allowances	(2,508)	(2,672)
Total deferred income tax assets	23,448	13,990
Deferred income tax liabilities:
Property and equipment-tax over book depreciation	(32,220)	(26,030)
Intangible assets-tax over book amortization	(1,856)	(1,890)
Right-of-use operating lease assets	(5,850)	0
Non-U.S. deferred income tax liabilities	(2,280)	(1,443)
Other	(2,187)	(2,025)
Total deferred income tax liabilities	(44,393)	(31,388)
Net deferred income taxes	$ (20,945)	$ (17,398)

Noncontrolling Interests - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Noncontrolling Interests [Line Items]
Capital contributions to joint venture	$ 0
Net loss attributable to noncontrolling interest	(1,476,000)	$ 207,000	$ 0
Huen Electric Inc [Member]
Noncontrolling Interests [Line Items]
Distributions to partners	$ 0

Property and Equipment - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property and Equipment
Depreciation and amortization expense	$ 40,667	$ 38,070	$ 38,077

Earnings Per Share - Summary of shares excluded from calculation of dilute securities (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Time vested stock awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings (in shares)	0	1	44
Performance awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings (in shares)	73	67	97

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Schedule of income before income taxes by geographical area

Income before income taxes by geographic area was, for the years ended December 31:


(in thousands)	2019		2018		2017
Federal	$	46,445	$	48,393	$	33,830
Foreign		3,997		(5,325)		(9,190)
	$	50,442	$	43,068	$	24,640

Schedule of income tax expense

Income tax expense consisted of the following for the years ended December 31:


(in thousands)	2019		2018		2017
Current
Federal	$	6,976	$	5,155	$	7,020
State		3,562		3,310		1,557
		10,538		8,465		8,577
Deferred
Federal		3,010		4,936		(1,453)
Foreign		874		(822)		(875)
State		(194)		(805)		(2,763)
		3,690		3,309		(5,091)
Income tax expense	$	14,228	$	11,774	$	3,486

Schedule of effective tax rate reconciliation

The differences between the U.S. federal statutory tax rate and the Company’s effective tax rate for operations were as follows for the years ended December 31:


	2019		2018		2017
U.S federal statutory rate	21.0	%	21.0	%	35.0	%
Deferred balance adjustments due to Tax Act, net	—		—		(31.6)
State income taxes, net of U.S. federal income tax expense	4.7		5.2		5.3
Change in valuation allowance	(0.3)		1.2		6.4
Domestic production/manufacturing deduction	—		—		(1.6)
Tax differential on foreign earnings	0.4		(0.5)		3.2
Deferred state tax adjustments, net	—		—		(2.4)
Non-deductible meals and entertainment	0.8		0.8		1.7
Stock compensation excess tax benefits	0.1		(0.1)		(3.1)
Uncertain tax positions	(0.4)		0.1		2.0
Provision to return adjustments, net	0.2		(0.2)		(0.3)
Global intangible low tax income	0.3		—		—
Non-controlling interest	0.9		(0.5)		—
Other income, net	0.5		0.3		(0.5)
Effective rate	28.2	%	27.3	%	14.1	%

Schedule of net deferred tax assets and (liabilities)

The net deferred tax assets and (liabilities) arising from temporary differences was as follows at December 31:


(in thousands)	2019		2018
Deferred income tax assets:
Self insurance reserves	$	4,458	$	4,299
Contract loss reserves		642		350
Stock-based awards		1,164		1,143
Bonus		4,904		3,271
Operating lease liabilities		5,850		—
Non-U.S. operating loss		5,499		5,641
Other		3,439		1,958
Total deferred income tax assets before valuation allowances		25,956		16,662
Less: valuation allowances		(2,508)		(2,672)
Total deferred income tax assets		23,448		13,990
Deferred income tax liabilities:
Property and equipment – tax over book depreciation		(32,220)		(26,030)
Intangible assets – tax over book amortization		(1,856)		(1,890)
Right-of-use operating lease assets		(5,850)		—
Non-U.S. deferred income tax liabilities		(2,280)		(1,443)
Other		(2,187)		(2,025)
Total deferred income tax liabilities		(44,393)		(31,388)
Net deferred income taxes	$	(20,945)	$	(17,398)

Schedule of liability for unrecognized tax benefits reconciliation

The following is a reconciliation of the beginning and ending liability for unrecognized tax benefits at December 31:


(in thousands)	2019		2018
Balance at beginning of period	$	327	$	751
Gross increases in current period tax positions		31		25
Settlements with taxing authorities		(88)		—
Reductions in tax positions due to lapse of statutory limitations		(118)		(8)
Reclass from unrecognized tax benefits to deferred tax liability		—		(441)
Balance at end of period		152		327
Accrued interest and penalties at end of period		24		48
Total liability for unrecognized tax benefits	$	176	$	375

Contract Assets and Liabilities - Summary of assets and liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Contractors [Line Items]
Contract assets	$ 217,109	$ 160,281
Contract liabilities	(105,486)	(58,534)
Net contract assets (liabilities)	111,623	101,747
Changes in contract assets	16,443	$ 28,141	$ 17,857
Net Period Change [Member]
Contractors [Line Items]
Changes in contract assets	56,828
Changes in contract liabilities	(46,952)
Changes in net contract assets (liabilities)	$ 9,876

Accounts Receivable - Schedule of accounts receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accounts Receivable
Contract receivables	$ 385,744	$ 282,283
Other	6,099	7,475
Accounts receivable, gross current	391,843	289,758
Less: Allowance for doubtful accounts	(3,364)	(1,331)
Accounts receivable, net	$ 388,479	$ 288,427

Lease Obligations

12 Months Ended

Dec. 31, 2019

Lease Obligations

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 following is a summary of the lease-related assets and liabilities recorded as of December 31, 2019:


(in thousands)	Classification on the Consolidated Balance Sheet
Assets
Operating lease right-of-use assets	Operating lease right-of-use assets		$	22,958
Finance lease right-of-use assets	Property and equipment, net of accumulated depreciation			1,478
Total right-of-use lease assets			$	24,436

Liabilities
Current
Operating lease obligations		Current portion of operating lease obligations	$	6,205
Finance lease obligations		Current portion of finance lease obligations		1,135
Total current obligations				7,340
Non-current
Operating lease obligations		Operating lease obligations, net of current maturities		16,884
Finance lease obligations		Finance lease obligations, net of current maturities		338
Total non-current obligations				17,222
Total lease obligations			$	24,562

The following is a summary of the lease terms and discount rates as of December 31, 2019:


Weighted-average remaining lease term - finance leases	1.4 years
Weighted-average remaining lease term - operating leases	3.9 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 year ended December 31, 2019:


(in thousands)	Year ended December 31,
Lease cost:	2019
Finance lease cost:
Amortization of right-of-use assets	$	820
Interest on lease liabilities		66
Operating lease cost		7,282
Short-term lease cost		8
Variable lease costs		284
Total lease cost	$	8,460

The following is a summary of other information and supplemental cash flow information related to finance and operating leases for the year ended December 31, 2019:


(in thousands)
Other information:
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	7,337
Right-of-use asset obtained in exchange for new operating lease obligations	$	13,301


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

2020	$	1,167	$	8,431	$	9,598
2021		341		7,335		7,676
2022		—		5,999		5,999
2023		—		4,123		4,123
2024		—		1,978		1,978
Thereafter		—		1,648		1,648
Total minimum lease payments		1,508		29,514		31,022
Financing component		(35)		(6,425)		(6,460)
Net present value of minimum lease payments		1,473		23,089		24,562
Less: current portion of finance and operating lease obligations		(1,135)		(6,205)		(7,340)
Long-term finance and operating lease obligations	$	338	$	16,884	$	17,222

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 December 31, 2019, the minimum lease payments required under these leases totaled $4.5 million, which is to be paid over the next 4.5 years.


	Operating
(in thousands)	Lease Obligations

2019	$	4,829
2020		3,754
2021		2,971
2022		2,379
2023		1,335
Thereafter		2,127
Total minimum lease payments	$	17,395

Capital Leases

Prior to the adoption of ASU No. 2016-02, Leases (Topic 842), certain of the Company’s leased vehicles and equipment leases met the characteristics of 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.

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies

Schedule of accrued short- and long-term insurance liabilities

The following table includes the Company’s accrued short- and long-term insurance liabilities at December 31:


(in thousands)	2019		2018		2017
Balance at beginning of period	$	54,039	$	45,363	$	42,584
Net increases in reserves		45,419		31,193		22,938
Net payments made		(32,654)		(22,517)		(20,159)
Balance at end of period	$	66,804	$	54,039	$	45,363

Accrued Liabilities - Schedule of other current liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accrued Liabilities
Payroll and incentive compensation	$ 22,645	$ 21,641
Union dues and benefits	18,747	11,465
Taxes	6,790	7,999
Profit sharing and thrift plan	5,325	1,215
Net asset adjustments	987	11,210
Joint venture liability	652	0
Other	9,218	7,828
Total other current liabilities	$ 64,364	$ 61,358

Property and Equipment - Summary of property and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 458,209	$ 415,387
Less: accumulated depreciation and amortization	(272,865)	(253,495)
Total property and equipment, net	185,344	161,892
Land [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 9,301	8,475
Estimated Useful Life in Years	0 years
Buildings and improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 29,747	23,228
Buildings and improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	39 years
Buildings and improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	3 years
Construction equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 403,217	371,941
Construction equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	12 years
Construction equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	3 years
Office equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 15,944	$ 11,743
Office equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	10 years
Office equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life in Years	3 years

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2019

Accounts Receivable

Schedule of accounts receivable

Accounts receivable consisted of the following at December 31:


(in thousands)	2019		2018
Contract receivables	$	385,744	$	282,283
Other		6,099		7,475
		391,843		289,758
Less: allowance for doubtful accounts		(3,364)		(1,331)
	$	388,479	$	288,427

Schedule of allowance for doubtful accounts

The roll-forward of activity in the allowance for doubtful accounts was as follows for the years ended December 31:


(in thousands)	2019		2018		2017
Balance at beginning of period	$	1,331	$	605	$	432
Less: reduction in (provision for) allowances		(2,532)		(860)		(263)
Less: write offs, net of recoveries		501		123		92
Change in foreign currency translation		(2)		11		(2)
Balance at end of period	$	3,364	$	1,331	$	605

Accounts Receivable

12 Months Ended

Dec. 31, 2019

Accounts Receivable

Accounts Receivable

6. Accounts Receivable

Accounts receivable consisted of the following at December 31:


(in thousands)	2019		2018
Contract receivables	$	385,744	$	282,283
Other		6,099		7,475
		391,843		289,758
Less: allowance for doubtful accounts		(3,364)		(1,331)
	$	388,479	$	288,427

The roll-forward of activity in the allowance for doubtful accounts was as follows for the years ended December 31:


(in thousands)	2019		2018		2017
Balance at beginning of period	$	1,331	$	605	$	432
Less: reduction in (provision for) allowances		(2,532)		(860)		(263)
Less: write offs, net of recoveries		501		123		92
Change in foreign currency translation		(2)		11		(2)
Balance at end of period	$	3,364	$	1,331	$	605

Organization, Business and Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares	Sep. 30, 2019 USD ($) $ / shares	Jun. 30, 2019 USD ($) $ / shares	Mar. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 USD ($) $ / shares	Sep. 30, 2018 USD ($) $ / shares	Jun. 30, 2018 USD ($) $ / shares	Mar. 31, 2018 USD ($) $ / shares	Dec. 31, 2019 USD ($) segment $ / shares	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2017 USD ($) $ / shares
Organization Consolidation and Presentation of Financial Statements [Line Items]
Number of business segments (segment) \| segment									2
Contract retention provision									10.00%
Foreign currency gains									$ 100
Revenue recognized, related to change orders and claims included as contract price adjustments									35,900	$ 3,400
Increase (decrease) in operating income									57,178	50,312	$ 29,558
Increase (decrease) in net income	$ 12,775	$ 10,355	$ 7,207	$ 7,353	$ 10,651	$ 7,957	$ 6,835	$ 5,644	$ 37,690	$ 31,087	$ 21,154
Increase (decrease) in diluted earnings per common share (in dollars per share) \| $ / shares	$ 0.76	$ 0.62	$ 0.43	$ 0.44	$ 0.64	$ 0.48	$ 0.41	$ 0.34	$ 2.26	$ 1.87	$ 1.28
Advertising cost									$ 800	$ 700	$ 700
Allowance for contract retainage	$ 0				$ 0				$ 0	$ 0
Concentration risk									100.00%	100.00%
Existence of option to extend lease									true
Option to extend lease term (up to)									5 years
Option to terminate leases, period									1 year
T&D [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Increase (decrease) in operating income									$ 73,580	$ 57,242	$ 39,631
Contingencies Excluding Wildfire and Health Insurance [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Insurance coverage deductible	1,000								1,000
Wildfire [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Insurance coverage deductible	2,000								2,000
Health Insurance [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Insurance coverage deductible	$ 200								$ 200
Maximum [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Remaining lease term									7 years
Minimum [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Remaining lease term									1 year
Revenue from Contract with Customer [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Concentration risk									100.00%	100.00%
Revenue from Contract with Customer [Member] \| Top Ten Customers [Member] \| Customer Concentration Risk [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Concentration risk									30.80%	32.90%	40.40%
Revenue from Contract with Customer [Member] \| Top One Customer [Member] \| Customer Concentration Risk [Member] \| T&D [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Concentration risk											10.70%
Labor employees covered by collective bargaining agreements [Member] \| Labor Force Concentration Risk [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Concentration risk									90.00%
Contracts Accounted for under Percentage of Completion [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Increase (decrease) in consolidated gross margin									(0.80%)	(0.70%)	(0.70%)
Increase (decrease) in operating income									$ (11,700)	$ (10,500)	$ (10,400)
Increase (decrease) in net income									$ (7,500)	$ (8,200)	$ (6,200)
Increase (decrease) in diluted earnings per common share (in dollars per share) \| $ / shares									$ (0.45)	$ (0.49)	$ (0.38)

Segment Information - Additional information (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2019 USD ($) segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Segment Reporting Information [Line Items]
Contract revenues	$ 571,075	$ 583,214	$ 448,776	$ 468,094	$ 446,345	$ 399,537	$ 339,676	$ 345,611	$ 2,071,159	$ 1,531,169	$ 1,403,317
Identifiable assets	1,007,871				748,755				$ 1,007,871	748,755
Number of business segments (segment) \| segment									2
C&I [Member]
Segment Reporting Information [Line Items]
Contract revenues									$ 936,748	638,061	523,945
Identifiable assets	414,264				257,049				414,264	257,049
CANADA
Segment Reporting Information [Line Items]
Identifiable assets	$ 24,800				$ 20,500				24,800	20,500
CANADA \| C&I [Member]
Segment Reporting Information [Line Items]
Contract revenues									$ 79,500	$ 53,800	$ 84,100

Revenue Recognition - Schedule of revenue by market type (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Amount	$ 571,075	$ 583,214	$ 448,776	$ 468,094	$ 446,345	$ 399,537	$ 339,676	$ 345,611	$ 2,071,159	$ 1,531,169	$ 1,403,317
Concentration risk									100.00%	100.00%
Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Amount									$ 2,071,159	$ 1,531,169
Concentration risk									100.00%	100.00%
T&D [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Amount									$ 1,134,411	$ 893,108
Concentration risk									100.00%	100.00%
T&D [Member] \| Market Type Transmission [Member]
Disaggregation of Revenue [Line Items]
Amount									$ 772,609	$ 559,467
Concentration risk									37.30%	36.50%
T&D [Member] \| Market Type Distribution [Member]
Disaggregation of Revenue [Line Items]
Amount									$ 361,802	$ 333,641
Concentration risk									17.50%	21.80%
C&I [Member] \| Revenue from Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Amount									$ 936,748	$ 638,061
Concentration risk									100.00%	100.00%
C&I [Member] \| Market Type Electrical construction [Member]
Disaggregation of Revenue [Line Items]
Amount									$ 936,748	$ 638,061
Concentration risk									45.20%	41.70%

Stock-Based Compensation - Summary of performance share award activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Performance awards [Member]
Shares
Outstanding, beginning of period (in shares)	112,253	126,975	144,023
Granted at target (in shares)	72,932	66,764	47,454
Vested (in shares)	(8,854)	(29,655)	(39,407)
Forfeited (in shares)	(1,505)	(9,247)	(222)
Outstanding, end of period (in shares)	138,245	112,253	126,975
Per Share Weighted-Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share)	$ 39.73	$ 35.29	$ 32.92
Granted at target (in dollars per share)	39.26	34.52	47.12
Vested (in dollars per share)	58.34	33.35	40.15
Forfeited (in dollars per share)	43.43	30.85	37.22
Outstanding, end of period (in dollars per share)	$ 37.02	$ 39.73	$ 35.29
Performance Shares Below Target [Member]
Shares
Forfeited for performance below target (in shares)	(36,581)	(42,584)	(24,873)
Per Share Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Forfeited for performance below target (in dollars per share)	$ 48.94	$ 29.73	$ 36.40

Debt - Schedule of remaining principal payments for long term obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total future principal payments	$ 165,824	$ 89,792
Less: current portion of equipment notes	(8,737)	(3,681)
Long-term principal obligations	157,087	86,111
Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Total future principal payments	62,004	$ 31,486
Master Loan Agreement [Member] \| Notes Payable to Banks [Member]
Debt Instrument [Line Items]
2020	8,737
2021	8,349
2022	8,645
2023	11,906
2024	8,923
Thereafter	15,444
Total future principal payments	62,004
Less: current portion of equipment notes	(8,737)
Long-term principal obligations	$ 53,267