Sterling Infrastructure (STRL) 10-Q 2 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Jul. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	1-31993
Entity Registrant Name	STERLING INFRASTRUCTURE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	25-1655321
Entity Address, Address Line One	1800 Hughes Landing Blvd.
Entity Address, City or Town	The Woodlands
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77380
City Area Code	281
Local Phone Number	214-0777
Entity Information, Former Legal or Registered Name	Sterling Construction Company, Inc.
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	STRL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		30,300,393
Entity Central Index Key	0000874238
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenues	$ 510,568	$ 401,666	$ 920,888	$ 716,982
Cost of revenues	(442,184)	(345,419)	(796,365)	(615,703)
Gross profit	68,384	56,247	124,523	101,279
General and administrative expense	(23,424)	(15,829)	(46,496)	(32,928)
Intangible asset amortization	(3,514)	(2,866)	(7,082)	(5,732)
Acquisition related costs	(230)	0	(485)	0
Other operating expense, net	(126)	(4,832)	(1,101)	(7,144)
Operating income	41,090	32,720	69,359	55,475
Interest income	30	12	40	26
Interest expense	(4,480)	(5,737)	(9,067)	(11,741)
Gain on extinguishment of debt, net	0	1,401	2,428	1,064
Income before income taxes	36,640	28,396	62,760	44,824
Income tax expense	(10,268)	(8,179)	(16,865)	(12,939)
Net income	26,372	20,217	45,895	31,885
Less: Net income attributable to noncontrolling interests	(411)	(161)	(682)	(1,274)
Net income attributable to Sterling common stockholders	$ 25,961	$ 20,056	$ 45,213	$ 30,611
Net income per share attributable to Sterling common stockholders:
Basic (in dollars per share)	$ 0.86	$ 0.70	$ 1.50	$ 1.08
Diluted (in dollars per share)	$ 0.86	$ 0.69	$ 1.50	$ 1.06
Weighted average common shares outstanding:
Basic (in shares)	30,225	28,582	30,094	28,433
Diluted (in shares)	30,362	29,054	30,229	28,878

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 26,372	$ 20,217	$ 45,895	$ 31,885
Other comprehensive income, net of tax
Change in interest rate swap, net of tax	839	728	2,402	1,623
Total comprehensive income	27,211	20,945	48,297	33,508
Less: Comprehensive income attributable to noncontrolling interests	(411)	(161)	(682)	(1,274)
Comprehensive income attributable to Sterling common stockholders	$ 26,800	$ 20,784	$ 47,615	$ 32,234

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents ($30,328 and $35,378 related to variable interest entities (“VIEs”))	$ 72,905	$ 81,840
Accounts receivable ($26,282 and $26,176 related to VIEs)	302,844	232,153
Contract assets ($15,345 and $10,249 related to VIEs)	121,667	83,310
Receivables from and equity in construction joint ventures ($6,696 and $7,058 related to VIEs)	16,910	16,896
Other current assets ($865 and $1,087 related to VIEs)	23,170	20,492
Total current assets	537,496	434,691
Property and equipment, net ($10,095 and $10,420 related to VIEs)	214,976	204,316
Operating lease right-of-use assets, net ($5,246 and $5,097 related to VIEs)	46,628	24,520
Goodwill ($1,501 and $1,501 related to VIEs)	252,887	259,791
Other intangibles, net	297,041	303,223
Other non-current assets, net	4,502	4,455
Total assets	1,353,530	1,230,996
Current liabilities:
Accounts payable ($33,597 and $23,611 related to VIEs)	164,506	144,982
Contract liabilities ($15,919 and $22,583 related to VIEs)	161,961	127,932
Current maturities of long-term debt ($0 and $4,857 related to VIEs)	26,273	28,230
Current portion of long-term lease obligations ($2,396 and $2,334 related to VIEs)	12,582	8,841
Accrued compensation ($3,175 and $2,388 related to VIEs)	33,044	22,803
Other current liabilities ($700 and $889 related to VIEs)	9,023	18,972
Total current liabilities	407,389	351,760
Long-term debt ($0 and $81 related to VIEs)	415,998	428,588
Long-term lease obligations ($2,850 and $2,763 related to VIEs)	34,103	15,831
Members’ interest subject to mandatory redemption and undistributed earnings	54,214	55,115
Deferred tax liability, net	29,871	14,656
Other long-term liabilities	4,580	4,819
Total liabilities	946,155	870,769
Commitments and contingencies (Note 12)
Stockholders’ equity:
Common stock, par value $0.01 per share; 38,000 shares authorized, 30,299 and 29,838 shares issued and outstanding	303	298
Additional paid in capital	279,120	280,274
Retained earnings	125,131	79,918
Accumulated other comprehensive gain (loss)	679	(1,723)
Total Sterling stockholders’ equity	405,233	358,767
Noncontrolling interests	2,142	1,460
Total stockholders’ equity	407,375	360,227
Total liabilities and stockholders’ equity	$ 1,353,530	$ 1,230,996

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Cash and cash equivalents	$ 72,905	$ 81,840
Accounts receivable	302,844	232,153
Contract assets	121,667	83,310
Sterling’s receivables from and equity in construction joint ventures	16,910	16,896
Other current assets	23,170	20,492
Property and equipment, net	214,976	204,316
Operating lease right-of-use assets	46,628	24,520
Goodwill	252,887	259,791
Accounts payable	164,506	144,982
Contract liabilities	161,961	127,932
Current maturities of long-term debt	26,273	28,230
Current portion of long-term lease obligations	12,582	8,841
Accrued compensation	33,044	22,803
Other current liabilities	9,023	18,972
Total long-term debt	415,998	428,588
Long-term lease obligations	$ 34,103	$ 15,831
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	38,000	38,000
Ending balance (in shares)	30,299	30,299
Common stock outstanding (in shares)	29,838	29,838
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents	$ 30,328	$ 35,378
Accounts receivable	26,282	26,176
Contract assets	15,345	10,249
Sterling’s receivables from and equity in construction joint ventures	6,696	7,058
Other current assets	865	1,087
Property and equipment, net	10,095	10,420
Operating lease right-of-use assets	5,246	5,097
Goodwill	1,501	1,501
Accounts payable	33,597	23,611
Contract liabilities	15,919	22,583
Current maturities of long-term debt	0	4,857
Current portion of long-term lease obligations	2,396	2,334
Accrued compensation	3,175	2,388
Other current liabilities	700	889
Total long-term debt	0	81
Long-term lease obligations	$ 2,850	$ 2,763

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 26,372	$ 20,217	$ 45,895	$ 31,885
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			25,412	16,707
Amortization of debt issuance costs and non-cash interest			1,102	1,264
Gain on disposal of property and equipment			(716)	(437)
Gain on debt extinguishment, net	0	(1,401)	(2,428)	(1,064)
Deferred taxes	8,865	7,152	14,505	11,294
Stock-based compensation			6,463	3,850
Change in fair value of interest rate swap			(173)	(51)
Changes in operating assets and liabilities (Note 16)			(55,471)	28,044
Net cash provided by operating activities			34,589	91,492
Cash flows from investing activities:
Acquisitions, net of cash acquired			(3,033)	0
Capital expenditures			(28,945)	(22,150)
Proceeds from sale of property and equipment			951	690
Net cash used in investing activities			(31,027)	(21,460)
Cash flows from financing activities:
Repayments of debt			(11,770)	(40,072)
Distributions to noncontrolling interest owners			0	(1,959)
Other			0	(602)
Net cash used in financing activities			(11,770)	(42,633)
Net change in cash, cash equivalents, and restricted cash			(8,208)	27,399
Cash, cash equivalents, and restricted cash at beginning of period			88,693	72,642
Cash, cash equivalents, and restricted cash at end of period	80,485	100,041	80,485	100,041
Less: restricted cash (other current assets)	(7,580)	(6,411)	(7,580)	(6,411)
Cash and cash equivalents at end of period	$ 72,905	$ 93,630	72,905	93,630
Non-cash items:
Capital expenditures			$ 1,097	$ 4,425

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Total Sterling Stockholders’ Equity	Common Stock	Additional Paid in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive (Loss) Gain	Non-controlling Interests
Beginning balance (in shares) at Dec. 31, 2020			28,184
Beginning balance (in shares) at Dec. 31, 2020					95
Beginning balance at Dec. 31, 2020	$ 268,729	$ 267,270	$ 283	$ 256,423	$ (1,445)	$ 17,273	$ (5,264)	$ 1,459
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11,668	10,555				10,555		1,113
Change in interest rate swap	895	895					895
Stock-based compensation	1,835	1,835		1,835
Distributions to owners	(1,959)							(1,959)
Issuance of stock (in shares)			668		(111)
Issuance of stock	144	144	$ 5	(1,602)	$ 1,741
Shares withheld for taxes (in shares)			246		16
Shares withheld for taxes	(5,619)	(5,619)	$ (2)	(5,321)	$ (296)
Ending balance (in shares) at Mar. 31, 2021			28,606
Ending balance (in shares) at Mar. 31, 2021					0
Ending balance at Mar. 31, 2021	275,693	275,080	$ 286	251,335	$ 0	27,828	(4,369)	613
Beginning balance (in shares) at Dec. 31, 2020			28,184
Beginning balance (in shares) at Dec. 31, 2020					95
Beginning balance at Dec. 31, 2020	268,729	267,270	$ 283	256,423	$ (1,445)	17,273	(5,264)	1,459
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	31,885
Change in interest rate swap	1,623
Ending balance (in shares) at Jun. 30, 2021			28,638
Ending balance (in shares) at Jun. 30, 2021					0
Ending balance at Jun. 30, 2021	298,770	297,996	$ 286	253,467	$ 0	47,884	(3,641)	774
Beginning balance (in shares) at Mar. 31, 2021			28,606
Beginning balance (in shares) at Mar. 31, 2021					0
Beginning balance at Mar. 31, 2021	275,693	275,080	$ 286	251,335	$ 0	27,828	(4,369)	613
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,217	20,056				20,056		161
Change in interest rate swap	728	728					728
Stock-based compensation	2,015	2,015		2,015
Issuance of stock (in shares)			32
Issuance of stock	120	120		120
Other	(3)	(3)		(3)
Ending balance (in shares) at Jun. 30, 2021			28,638
Ending balance (in shares) at Jun. 30, 2021					0
Ending balance at Jun. 30, 2021	$ 298,770	297,996	$ 286	253,467	$ 0	47,884	(3,641)	774
Beginning balance (in shares) at Dec. 31, 2021	29,838		29,838
Beginning balance at Dec. 31, 2021	$ 360,227	358,767	$ 298	280,274		79,918	(1,723)	1,460
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	19,523	19,252				19,252		271
Change in interest rate swap	1,563	1,563					1,563
Stock-based compensation	3,521	3,521		3,521
Issuance of stock (in shares)			688
Issuance of stock	192	192	$ 7	185
Shares withheld for taxes (in shares)			263
Shares withheld for taxes	(7,386)	(7,386)	$ (3)	(7,383)
Ending balance (in shares) at Mar. 31, 2022			30,263
Ending balance at Mar. 31, 2022	$ 377,640	375,909	$ 302	276,597		99,170	(160)	1,731
Beginning balance (in shares) at Dec. 31, 2021	29,838		29,838
Beginning balance at Dec. 31, 2021	$ 360,227	358,767	$ 298	280,274		79,918	(1,723)	1,460
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	45,895
Change in interest rate swap	$ 2,402
Ending balance (in shares) at Jun. 30, 2022	29,838		30,299
Ending balance at Jun. 30, 2022	$ 407,375	405,233	$ 303	279,120		125,131	679	2,142
Beginning balance (in shares) at Mar. 31, 2022			30,263
Beginning balance at Mar. 31, 2022	377,640	375,909	$ 302	276,597		99,170	(160)	1,731
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	26,372	25,961				25,961		411
Change in interest rate swap	839	839
Stock-based compensation	2,333	2,333		2,333
Issuance of stock (in shares)			36
Issuance of stock	$ 191	191	$ 1	190
Ending balance (in shares) at Jun. 30, 2022	29,838		30,299
Ending balance at Jun. 30, 2022	$ 407,375	$ 405,233	$ 303	$ 279,120		$ 125,131	$ 679	$ 2,142

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. NATURE OF OPERATIONS Business Summary Sterling Infrastructure, Inc. (“Sterling,” “the Company,” “we,” “our” or “us”), a Delaware corporation, operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States (the “U.S.”), primarily across the Southern, Northeastern, Mid-Atlantic and the Rocky Mountain States, California and Hawaii, as well as other areas with strategic construction opportunities. E-Infrastructure Solutions projects develop advanced, large-scale site development systems and services for data centers, e-commerce distribution centers, warehousing, transportation, energy and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater and storm drainage systems. Building Solutions projects include residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs and other concrete work. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society’s quality of life. Caring for our people and our communities, our customers and our investors – that is The Sterling Way.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Presentation Basis— The accompanying Condensed Consolidated Financial Statements are presented in accordance with accounting policies generally accepted in the United States (“GAAP”) and reflect all wholly owned subsidiaries and those entities the Company is required to consolidate. See Note 5 - Consolidated 50% Owned Subsidiaries and Note 6 - Construction Joint Ventures for further discussion of the Company’s consolidation policy for those entities that are not wholly owned. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair presentation have been included. All significant intercompany accounts and transactions have been eliminated in consolidation. Values presented within tables (excluding per share data) are in thousands. Reclassifications have been made to historical financial data to conform to the current period presentation. Estimates and Judgments— The preparation of the accompanying Condensed Consolidated Financial Statements in conformance with GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Certain accounting estimates of the Company require a higher degree of judgment than others in their application. These include the recognition of revenue and earnings from construction contracts over time, the valuation of long-lived assets, goodwill and purchase accounting estimates. Management continually evaluates all of its estimates and judgments based on available information and experience; however, actual results could differ from these estimates. Significant Accounting Policies Consistent with Regulation S-X Rule 10-1(a), the Company has omitted significant accounting policies in this quarterly report that would duplicate the disclosures contained in the Company’s annual report on Form 10-K for the year ended December 31, 2021 under “Part II, Item 8. - Notes to Consolidated Financial Statements.” This quarterly report should be read in conjunction with the Company’s most recent annual report on Form 10-K. Accounts Receivable— Receivables are generally based on amounts billed to the customer in accordance with contractual provisions. Receivables are written off based on the individual credit evaluation and specific circumstances of the customer, when such treatment is warranted. The Company performs a review of outstanding receivables, historical collection information and existing economic conditions to determine if there are potential uncollectible receivables. At June 30, 2022 and December 31, 2021, our allowance for our estimate of expected credit losses was zero. Contracts in Progress— For performance obligations satisfied over time, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals (e.g., biweekly or monthly) or upon achievement of contractual milestones. Typically, Sterling bills for advances or deposits from its customers before revenue is recognized, resulting in contract liabilities. However, the Company occasionally bills subsequent to revenue recognition, resulting in contract assets. Many of the contracts under which the Company performs work also contain retainage provisions. Retainage refers to that portion of our billings held for payment by the customer pending satisfactory completion of the project. Unless reserved, the Company assumes that all amounts retained by customers under such provisions are fully collectible. At June 30, 2022 and December 31, 2021, contract assets included $68,316 and $47,308 of retainage, respectively, and contract liabilities included $47,037 and $46,882 of retainage, respectively. Retainage on active contracts is classified as current regardless of the term of the contract and is generally collected within one year of the completion of a contract. We anticipate collecting approximately 61% of our June 30, 2022 retainage during the next twelve months. These assets and liabilities are reported on the Condensed Consolidated Balance Sheet within “Contract assets” and “Contract liabilities” on a contract-by-contract basis at the end of each reporting period. Revenue recognized for the three and six months ended June 30, 2022 that was included in the contract liability balance on December 31, 2021 was $245,185 and $472,264, respectively. Revenue recognized for the three and six months ended June 30, 2021 that was included in the contract liability balance on December 31, 2020 was $141,813 and $297,370, respectively. Cash and Restricted Cash— Our cash is comprised of highly liquid investments with maturities of three months or less. Restricted cash of $7,580 and $6,853 is included in “Other current assets” on the Condensed Consolidated Balance Sheets at June 30, 2022 and December 31, 2021, respectively. This primarily represents cash deposited by the Company into separate accounts and designated as collateral for standby letters of credit in the same amount in accordance with contractual agreements.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	3. ACQUISITIONS General— On December 30, 2021 (the “Closing Date”), Sterling completed the acquisition (the “Acquisition”) of Petillo LLC and its related entities (collectively, “Petillo”). The Acquisition is accounted for using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations . Purchase Consideration— Sterling completed the Acquisition for a purchase price of $196,763, net of cash acquired, detailed as follows: Cash consideration transferred, net of cash acquired $ 175,000 Equity consideration transferred (759 shares at $26.87 per share (1) ) 20,406 Target working capital adjustment 1,357 Total consideration $ 196,763 (1) Sterling’s closing stock price on December 29, 2021. Preliminary Purchase Price Allocation— The aggregate purchase price noted above was allocated to the assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon a preliminary external appraisal and valuation of certain assets, including specifically identified intangible assets. The excess of the purchase price over the estimated fair value of the net tangible and identifiable intangible assets acquired totaling $60,873 was recorded as goodwill. This goodwill represents the value of expected future earnings and cash flows, as well as the synergies created by the integration of the new business within our organization, including cross-selling opportunities to help strengthen our existing service offerings and expand our market position. Goodwill and intangibles of approximately $132,000 related to the Acquisition, are deductible and amortizable for tax purposes over the next 15 years. The following table summarizes our purchase price allocation at the Acquisition Closing Date, net of cash acquired: Net tangible assets: Accounts receivable $ 45,016 Contract assets 5,953 Other current assets 193 Property and equipment, net 47,141 Other non-current assets, net 5,498 Accounts payable (21,810) Contract liabilities (8,585) Other current liabilities (8,216) Total net tangible assets 65,190 Identifiable intangible assets 70,700 Goodwill 60,873 Total consideration transferred $ 196,763 During the six months ended June 30, 2022, the total consideration and purchase price allocation (goodwill) changed by $7,800, primarily due to an updated estimate of the tax basis step-up payment. The purchase price allocation above is subject to further change when additional information is obtained. We have not finalized our assessment of the fair values primarily for intangible assets and property and equipment. We intend to finalize the purchase price allocation as soon as practicable within the measurement period, but in no event later than one year following the Closing Date of the Acquisition. Our final purchase price allocation may result in additional adjustments to various other assets and liabilities, including the residual amount allocated to goodwill during the measurement period. Identifiable Intangible Assets — Intangible assets identified as part of the Acquisition are reflected in the table below and are recorded at their estimated fair value, as determined by the Company’s management, based on available information which includes a preliminary valuation from external experts. The estimated useful lives for intangible assets were determined based upon the remaining useful economic lives of the intangible assets that are expected to contribute directly or indirectly to future cash flows. Weighted Average Life (Years) December 30, 2021 Customer relationships 25 $ 43,200 Trade names 25 27,500 Total $ 70,700 Supplemental Pro Forma Information (Unaudited) — The following unaudited pro forma combined financial information (“the pro forma financial information”) gives effect to the Acquisition, accounted for as a business combination using the purchase method of accounting. The pro forma financial information reflects the Acquisition and related events as if they occurred at the beginning of the period and includes adjustments to (1) include compensation expense associated with the employment agreement the Company entered into with Mr. Petillo, (2) include additional intangible asset amortization associated with the Acquisition, (3) include additional interest expense associated with the Acquisition and (4) include the pro forma results of Petillo for the three and six month periods ending June 30, 2021. This pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved had the pro forma events taken place on the dates indicated. Further, the pro forma financial information does not purport to project the future operating results of the combined company following the Acquisition. Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Pro forma revenue $ 455,827 $ 799,366 Pro forma net income attributable to Sterling $ 24,053 $ 34,345

Revenue From Customers

Revenue From Customers	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue From Customers	4. REVENUE FROM CUSTOMERS Backlog — The following table presents the Company’s backlog, by segment: June 30, December 31, E-Infrastructure Solutions Backlog $ 523,703 $ 432,613 Transportation Solutions Backlog 939,329 963,267 Building Solutions Backlog - Commercial 80,624 97,235 Total Backlog $ 1,543,656 $ 1,493,115 The Company expects to recognize approximately 65% of its backlog as revenue during the next twelve months, and the balance thereafter. Revenue Disaggregation — The following tables present the Company’s revenue disaggregated by major end market and contract type: Three Months Ended June 30, Six Months Ended June 30, Revenues by major end market 2022 2021 2022 2021 E-Infrastructure Solutions Revenues $ 233,548 $ 123,743 $ 402,475 $ 220,315 Heavy Highway 139,624 139,189 252,369 238,705 Aviation 18,934 36,754 36,517 63,976 Water Containment and Treatment 17,117 16,208 37,004 30,427 Other 15,706 11,002 25,990 17,099 Transportation Solutions Revenues 191,381 203,153 351,880 350,207 Residential 60,471 46,609 114,741 90,783 Commercial 25,168 28,161 51,792 55,677 Building Solutions Revenues 85,639 74,770 166,533 146,460 Total Revenues $ 510,568 $ 401,666 $ 920,888 $ 716,982 Revenues by contract type Fixed-Unit Price $ 180,408 $ 225,886 $ 336,718 $ 403,434 Lump-Sum 267,274 127,416 465,142 218,571 Residential and Other 62,886 48,364 119,028 94,977 Total Revenues $ 510,568 $ 401,666 $ 920,888 $ 716,982 Each of these contract types presents advantages and disadvantages. Typically, the Company assumes more risk with lump-sum contracts; however, these types of contracts offer additional profits if the work is completed for less than originally estimated. Under fixed-unit price contracts, the Company’s profit may vary if actual labor-hour costs vary significantly from the negotiated rates. Also, because some contracts can provide little or no fee for managing material costs, the components of contract cost can impact profitability. Variable Consideration The Company has projects that it is in the process of negotiating, or awaiting final approval of, unapproved change orders and claims with its customers. The Company is proceeding with its contractual rights to recoup additional costs incurred from its customers based on completing work associated with change orders, including change orders with pending change order pricing, or claims related to significant changes in scope which resulted in substantial delays and additional costs in completing the work. Unapproved change order and claim information has been provided to the Company’s customers and negotiations with the customers are ongoing. If additional progress with an acceptable resolution is not reached, legal action will be taken. Based upon the Company’s review of the provisions of its contracts, specific costs incurred and other related evidence supporting the unapproved change orders and claims, together in some cases as necessary with the views of the Company’s outside claim consultants, the Company concluded it was appropriate to include in project price amounts of $13,985 and $13,905, at June 30, 2022 and December 31, 2021, respectively, relating to unapproved change orders and claims. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Contract Estimates Accounting for long-term contracts and programs involves the use of various techniques to estimate total contract revenue and costs. For long-term contracts, the Company estimates the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract and recognizes such profit over the life of the contract. Contract estimates are based on various assumptions to project the outcome of future events that often span several years. These assumptions include labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials and the performance of subcontractors. Changes in job performance, job conditions and estimated profitability, including those changes arising from contract penalty provisions and final contract settlements, may result in revisions to costs and income and are recognized in the period in which the revisions are determined. Changes in contract estimates and variations in project scope of work resulted in net increases of approximately $10,600 and $26,000 for the three and six months ended June 30, 2022, respectively, and net increases of approximately $3,700 and $12,000 for the three and six months ended June 30, 2021, respectively, included in “Operating income” on the Condensed Consolidated Statements of Operations.

Consolidated 50% Owned Subsidia

Consolidated 50% Owned Subsidiaries	6 Months Ended
	Jun. 30, 2022
Noncontrolling Interest [Abstract]
Consolidated 50% Owned Subsidiaries	5. CONSOLIDATED 50% OWNED SUBSIDIARIES The Company has 50% ownership interests in two subsidiaries (“Myers” and “RHB”) that it fully consolidates as a result of its exercise of control over the entities. The earnings attributable to the 50% portions the Company does not own were approximately $100 and $1,100 for the three and six months ended June 30, 2022, respectively, and were approximately $4,800 and $6,600 for the three and six months ended June 30, 2021, respectively, and are eliminated within “Other operating expense, net” in the Condensed Consolidated Statements of Operations. Any undistributed earnings for partners are included in “Members’ interest subject to mandatory redemption and undistributed earnings” within the Condensed Consolidated Balance Sheets and are mandatorily payable at the time of the noncontrolling owners’ death or permanent disability. These two subsidiaries have individual mandatory redemption provisions which, under circumstances outlined in the partner agreements, are certain to occur and obligate the Company to purchase each partner’s remaining 50% interests for $20,000 ($40,000 in the aggregate). The Company has purchased two separate $20,000 death and permanent total disability insurance policies to mitigate the Company’s cash draw if such events were to occur. These purchase obligations are also recorded in “Members’ interest subject to mandatory redemption and undistributed earnings” on the Condensed Consolidated Balance Sheets. The liability consists of the following: June 30, December 31, Members’ interest subject to mandatory redemption $ 40,000 $ 40,000 Net accumulated earnings 14,214 15,115 Total liability $ 54,214 $ 55,115 The Company must determine whether any of its entities, including these two 50% owned subsidiaries, in which it participates, is a VIE. The Company determined that Myers is a VIE and that the Company is the primary beneficiary because, pursuant to the terms of the Myers Operating Agreement, the Company is exposed to the majority of potential losses of the partnership. Summary financial information for Myers is as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenues $ 48,741 $ 43,137 $ 93,099 $ 71,094 Operating (loss) income $ (4,608) $ 747 $ (6,056) $ 1,465 Net (loss) income $ (2,305) $ 366 $ (568) $ 717

Construction Joint Ventures

Construction Joint Ventures	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Construction Joint Ventures	6. CONSTRUCTION JOINT VENTURES Joint Ventures with a Controlling Interest —We consolidate any venture that is determined to be a VIE for which we are the primary beneficiary, or which we otherwise effectively control. The equity held by the remaining owners and their portions of net income (loss) are reflected in stockholders’ equity on the Condensed Consolidated Balance Sheets line item “Noncontrolling interests” and in the Condensed Consolidated Statements of Operations line item “Net income attributable to noncontrolling interests,” respectively. The Company determined that a joint venture in which the Company’s Ralph L. Wadsworth Construction subsidiary is a 51% owner is a VIE and the Company is the primary beneficiary. Summary financial information for this construction joint venture is as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenues $ 12,609 $ 9,325 $ 20,462 $ 17,566 Operating income $ 836 $ 613 $ 1,388 $ 3,140 Net income $ 840 $ 615 $ 1,394 $ 3,143 Joint Ventures with a Noncontrolling Interest —The Company accounts for unconsolidated joint ventures using a pro-rata basis in the Condensed Consolidated Statements of Operations and as a single line item (“Receivables from and equity in construction joint ventures”) in the Condensed Consolidated Balance Sheets. This method is a permissible modification of the equity method of accounting which is a common practice in the construction industry. Combined financial amounts of joint ventures in which the Company has a noncontrolling interest and the Company’s share of such amounts which are included in the Company’s Condensed Consolidated Financial Statements are shown below: June 30, December 31, Current assets $ 109,823 $ 130,898 Current liabilities $ (67,427) $ (91,121) Sterling’s receivables from and equity in construction joint ventures $ 16,910 $ 16,896 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenues $ 57,918 $ 62,489 $ 116,477 $ 111,906 Income before tax $ 7,567 $ 8,780 $ 14,344 $ 13,415 Sterling’s noncontrolling interest: Revenues $ 23,970 $ 26,994 $ 50,578 $ 48,938 Income before tax $ 2,948 $ 3,676 $ 6,015 $ 5,811 The caption “Receivables from and equity in construction joint ventures” includes undistributed earnings and receivables owed to the Company. Undistributed earnings are typically released to the joint venture partners after the customer accepts the project as completed and the warranty period, if any, has passed. Other —The use of joint ventures exposes us to a number of risks, including the risk that our partners may be unable or unwilling to provide their share of capital investment to fund the operations of the venture or complete their obligations to us, the venture, or ultimately, the customer. Differences in opinions or views among joint venture partners could also result in delayed decision-making or failure to agree on material issues, which could adversely affect the business and operations of the joint venture. In addition, agreement terms may subject us to joint and several liability for our venture partners, and the failure of our venture partners to perform their obligations could impose additional performance and financial obligations on us. The aforementioned factors could result in unanticipated costs to complete the projects, liquidated damages or contract disputes, including claims against our partners.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	7. PROPERTY AND EQUIPMENT Property and equipment are summarized as follows: June 30, December 31, Construction and transportation equipment $ 342,504 $ 316,381 Buildings and improvements 25,366 24,042 Land 3,891 3,891 Office equipment 3,513 3,270 Total property and equipment 375,274 347,584 Less accumulated depreciation (160,298) (143,268) Total property and equipment, net $ 214,976 $ 204,316 Depreciation Expense— Depreciation expense is primarily included within cost of revenues and was $10,131 and $18,330 for the three and six months ended June 30, 2022, respectively, and $5,536 and $10,975 for the three and six months ended June 30, 2021, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	8. OTHER INTANGIBLE ASSETS The following table presents our acquired finite-lived intangible assets, including the weighted-average useful lives for each major intangible asset category and in total: June 30, 2022 December 31, 2021 Weighted Gross Accumulated Gross Accumulated Customer relationships 25 $ 275,823 $ (31,441) $ 274,923 $ (25,838) Trade names 24 57,607 (5,970) 57,607 (4,726) Non-compete agreements 5 2,487 (1,465) 2,487 (1,230) Total 24 $ 335,917 $ (38,876) $ 335,017 $ (31,794) The Company’s intangible amortization expense was $3,514 and $7,082 for the three and six months ended June 30, 2022, respectively, and $2,866 and $5,732 for the three and six months ended June 30, 2021, respectively.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	9. DEBT The Company’s outstanding debt was as follows: June 30, December 31, Term Loan Facility $ 435,275 $ 446,888 Revolving Credit Facility — — Credit Facility 435,275 446,888 Other debt 11,274 15,309 Total debt 446,549 462,197 Less - Current maturities of long-term debt (26,273) (28,230) Less - Unamortized debt issuance costs (4,278) (5,379) Total long-term debt $ 415,998 $ 428,588 Credit Facility —Our amended credit agreement (as amended, the “Credit Agreement”) provides the Company with senior secured debt financing (collectively, the “Credit Facility”) consisting of (i) a senior secured first lien term loan facility (the “Term Loan Facility”) in the aggregate principal amount of $540,000 and (ii) a senior secured first lien revolving credit facility (the “Revolving Credit Facility”) in an aggregate principal amount of $75,000 (with a $75,000 limit for the issuance of letters of credit and a $15,000 sublimit for swing line loans). The obligations under the Credit Facility are secured by substantially all assets of the Company and the subsidiary guarantors, subject to certain permitted liens and interests of other parties. The Credit Facility will mature on October 2, 2024. The Term Loan Facility bears interest at either the base rate plus a margin, or at a one to twelve-month LIBOR rate plus a margin, at the Company’s election. At June 30, 2022, the Company calculated interest using a one-month LIBOR rate and an applicable margin of 1.06% and 2.00% per annum, respectively. We continue to utilize an interest rate swap to hedge against $200,000 of the outstanding Term Loan Facility, which resulted in a weighted average interest rate of approximately 4.13% per annum during the six months ended June 30, 2022. Scheduled principal payments on the Term Loan Facility are made quarterly and total approximately $23,200, $31,900, and $26,100 for each of the years ending 2022, 2023 and 2024, respectively. A final payment of all principal and interest then outstanding on the Term Loan Facility is due on October 2, 2024. The Company is required to make mandatory prepayments on the Credit Facility with proceeds received from issuances of debt, events of loss and certain dispositions, and is also required to prepay the Credit Facility with a certain percentage of its excess cash flow within 5 days after receipt of its annual audited financial statements. For the six months ended June 30, 2022, the Company made scheduled term loan payments of $11,612. The Revolving Credit Facility bears interest at the same rate options as the Term Loan Facility. In addition to interest on debt borrowings, we are assessed quarterly commitment fees on the unutilized portion of the facility as well as letter of credit fees on outstanding instruments. At June 30, 2022, we had no outstanding borrowings under the $75,000 Revolving Credit Facility. Debt Issuance Costs —The costs associated with the Credit Facility are reflected on the Condensed Consolidated Balance Sheets as a direct reduction from the related debt liability and amortized over the term of the facility. Amortization of debt issuance costs was $546 and $1,102 for the three and six months ended June 30, 2022, respectively, and $604 and $1,264 for the three and six months ended June 30, 2021, respectively, and was recorded as interest expense. Other Debt —At December 31, 2021, other debt primarily consisted of a $10,000 subordinated promissory note to one of the Plateau sellers and a short-term Paycheck Protection Program loan (the “PPP Loan”) received by one of the Company’s 50% owned subsidiaries. During the first quarter of 2022, the Small Business Administration forgave the outstanding PPP Loan of approximately $4,800, of which the Company recorded a gain on debt extinguishment of $2,428 for its 50% portion of the gain. Compliance and Other —The Credit Agreement contains various affirmative and negative covenants that may, subject to certain exceptions, restrict the ability of us and our subsidiaries to, among other things, grant liens, incur additional indebtedness, make loans, advances or other investments, make non-ordinary course asset sales, declare or pay dividends or make other distributions with respect to equity interests, purchase, redeem or otherwise acquire or retire capital stock or other equity interests, or merge or consolidate with any other person, among various other things. In addition, the Company is required to maintain certain financial covenants. As of June 30, 2022, we were in compliance with all of our restrictive and financial covenants. The Company’s debt is recorded at its carrying amount in the Condensed Consolidated Balance Sheets. At June 30, 2022 and December 31, 2021, the fair value of our debt outstanding approximated the carrying value.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	10. FINANCIAL INSTRUMENTS Interest Rate Derivative —We continue to utilize a swap arrangement to hedge against interest rate variability associated with $200,000 of the $435,275 outstanding under the Term Loan Facility. The Company has designated its interest rate swap agreement as a cash flow hedging derivative. To the extent the derivative instrument is effective and the documentation requirements have been met, changes in fair value are recognized in other comprehensive income (loss) (“OCI”) until the underlying hedged item is recognized in earnings. At June 30, 2022, the fair value of the swap recorded in accumulated other comprehensive income (loss) (“AOCI”) was a net gain of $878. Derivatives Disclosures Fair Value —Financial instruments are required to be categorized within a valuation hierarchy based upon the lowest level of input that is significant to the fair value measurement. The three levels of the valuation hierarchy are as follows: • Level 1—Fair value is based on quoted prices in active markets. • Level 2—Fair value is based on internally developed models that use, as their basis, readily observable market parameters. Our derivative positions are classified within level 2 of the valuation hierarchy as they are valued using quoted market prices for similar assets and liabilities in active markets. These level 2 derivatives are valued utilizing an income approach, which discounts future cash flow based on current market expectations and adjusts for credit risk. • Level 3—Fair value is based on internally developed models that use, as their basis, significant unobservable market parameters. The Company did not have any level 3 classifications at June 30, 2022 or December 31, 2021. The following table presents the fair value of the interest rate derivative by valuation hierarchy and balance sheet classification: June 30, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Derivative Assets Other current assets $ — $ 847 $ — $ 847 $ — $ — $ — $ — Other non-current assets — — — — — — — — Total assets at fair value $ — $ 847 $ — $ 847 $ — $ — $ — $ — Derivative Liabilities Other current liabilities $ — $ — $ — $ — $ — $ (2,438) $ — $ (2,438) Other non-current liabilities — — — — — — — — Total liabilities at fair value $ — $ — $ — $ — $ — $ (2,438) $ — $ (2,438) OCI —The following table presents the total value recognized in OCI and reclassified from AOCI into earnings during the three and six months ended June 30, 2022 and 2021 for derivatives designated as cash flow hedges: Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Before Tax Tax Net of Tax Before Tax Tax Net of Tax Net gain (loss) recognized in OCI $ 672 $ (153) $ 519 $ 1,957 $ (446) $ 1,511 Net amount reclassified from AOCI into earnings (1) 415 (95) 320 1,156 (265) 891 Change in other comprehensive income $ 1,087 $ (248) $ 839 $ 3,113 $ (711) $ 2,402 Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Before Tax Tax Net of Tax Before Tax Tax Net of Tax Net gain (loss) recognized in OCI $ (82) $ 19 $ (63) $ 44 $ (10) $ 34 Net amount reclassified from AOCI into earnings (1) 1,024 (233) 791 2,058 (469) 1,589 Change in other comprehensive income $ 942 $ (214) $ 728 $ 2,102 $ (479) $ 1,623 (1) Net unrealized gains totaling $878 are anticipated to be reclassified from AOCI into earnings during the next 12 months due to settlement of the associated underlying obligations.

Lease Obligations

Lease Obligations	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Lease Obligations	11. LEASE OBLIGATIONS The Company has operating and finance leases primarily for construction and transportation equipment, as well as office space. The Company’s leases have remaining lease terms of one month to ten years, some of which include options to extend the leases for up to ten years. The components of lease expense are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost $ 5,452 $ 1,510 $ 8,145 $ 3,022 Short-term lease cost $ 3,180 $ 2,911 $ 6,348 $ 5,035 Finance lease cost: Amortization of right-of-use assets $ 36 $ 46 $ 77 $ 96 Interest on lease liabilities 3 5 7 11 Total finance lease cost $ 39 $ 51 $ 84 $ 107 Supplemental cash flow information related to leases is as follows: Six Months Ended June 30, Cash paid for amounts included in the measurement of lease liabilities: 2022 2021 Operating cash flows from operating leases $ 8,311 $ 2,980 Operating cash flows from finance leases $ 7 $ 11 Financing cash flows from finance leases $ 77 $ 96 Right-of-use assets obtained in exchange for lease obligations (non-cash): Operating leases $ 30,192 $ 3,496 Finance leases $ — $ — Supplemental balance sheet information related to leases is as follows: Operating Leases June 30, December 31, Operating lease right-of-use assets $ 46,628 $ 24,520 Current portion of long-term lease obligations $ 12,582 $ 8,841 Long-term lease obligations 34,103 15,831 Total operating lease liabilities $ 46,685 $ 24,672 Finance Leases Property and equipment, at cost $ 1,479 $ 1,479 Accumulated depreciation (987) (907) Property and equipment, net $ 492 $ 572 Current maturities of long-term debt $ 144 $ 148 Long-term debt 151 224 Total finance lease liabilities $ 295 $ 372 Weighted Average Remaining Lease Term Operating leases 5.0 5.4 Finance leases 2.0 2.5 Weighted Average Discount Rate Operating leases 5.0 % 5.0 % Finance leases 4.3 % 4.3 % Maturities of lease liabilities are as follows: Year Ending December 31, Operating Finance 2022 (excluding the six months ended June 30, 2022) $ 6,741 $ 77 2023 13,091 154 2024 11,111 77 2025 8,377 — 2026 5,093 — 2027 2,163 — Thereafter 6,391 — Total lease payments $ 52,967 $ 308 Less imputed interest (6,282) (13) Total $ 46,685 $ 295
Lease Obligations	11. LEASE OBLIGATIONS The Company has operating and finance leases primarily for construction and transportation equipment, as well as office space. The Company’s leases have remaining lease terms of one month to ten years, some of which include options to extend the leases for up to ten years. The components of lease expense are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost $ 5,452 $ 1,510 $ 8,145 $ 3,022 Short-term lease cost $ 3,180 $ 2,911 $ 6,348 $ 5,035 Finance lease cost: Amortization of right-of-use assets $ 36 $ 46 $ 77 $ 96 Interest on lease liabilities 3 5 7 11 Total finance lease cost $ 39 $ 51 $ 84 $ 107 Supplemental cash flow information related to leases is as follows: Six Months Ended June 30, Cash paid for amounts included in the measurement of lease liabilities: 2022 2021 Operating cash flows from operating leases $ 8,311 $ 2,980 Operating cash flows from finance leases $ 7 $ 11 Financing cash flows from finance leases $ 77 $ 96 Right-of-use assets obtained in exchange for lease obligations (non-cash): Operating leases $ 30,192 $ 3,496 Finance leases $ — $ — Supplemental balance sheet information related to leases is as follows: Operating Leases June 30, December 31, Operating lease right-of-use assets $ 46,628 $ 24,520 Current portion of long-term lease obligations $ 12,582 $ 8,841 Long-term lease obligations 34,103 15,831 Total operating lease liabilities $ 46,685 $ 24,672 Finance Leases Property and equipment, at cost $ 1,479 $ 1,479 Accumulated depreciation (987) (907) Property and equipment, net $ 492 $ 572 Current maturities of long-term debt $ 144 $ 148 Long-term debt 151 224 Total finance lease liabilities $ 295 $ 372 Weighted Average Remaining Lease Term Operating leases 5.0 5.4 Finance leases 2.0 2.5 Weighted Average Discount Rate Operating leases 5.0 % 5.0 % Finance leases 4.3 % 4.3 % Maturities of lease liabilities are as follows: Year Ending December 31, Operating Finance 2022 (excluding the six months ended June 30, 2022) $ 6,741 $ 77 2023 13,091 154 2024 11,111 77 2025 8,377 — 2026 5,093 — 2027 2,163 — Thereafter 6,391 — Total lease payments $ 52,967 $ 308 Less imputed interest (6,282) (13) Total $ 46,685 $ 295

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. COMMITMENTS AND CONTINGENCIES The Company is required by its insurance providers to obtain and hold standby letters of credit. These letters of credit serve as a guarantee by the banking institution to pay the Company’s insurance providers the incurred claim costs attributable to its general liability, workers’ compensation and automobile liability claims, up to the amount stated in the standby letters of credit, in the event that these claims were not paid by the Company. These letters of credit are cash collateralized, resulting in the cash being designated as restricted. The Company, including its construction joint ventures and its consolidated 50% owned subsidiaries, is now and may in the future be involved as a party to various legal proceedings that are incidental to the ordinary course of business. Management, after consultation with legal counsel, does not believe that the outcome of these actions will have a material impact on the Condensed Consolidated Financial Statements of the Company.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	13. INCOME TAXES The Company and its subsidiaries are based in the U.S. and file federal and various state income tax returns. The components of the provision for income taxes were as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Current tax expense $ 1,403 $ 1,027 $ 2,360 $ 1,645 Deferred tax expense 8,865 7,152 14,505 11,294 Income tax expense $ 10,268 $ 8,179 $ 16,865 $ 12,939 Cash paid for income taxes $ 2,798 $ 1,700 $ 2,798 $ 1,700 The effective income tax rate for the three and six months ended June 30, 2022 was 28.0% and 26.9%, respectively. The rates varied from the statutory rate primarily as a result of state income taxes, nondeductible compensation and other permanent differences. The rate for six months ended June 30, 2022 was additionally benefited by non-taxed PPP loan forgiveness in the first quarter of 2022. Due to net operating loss carryforwards, the Company expects no cash payments for federal income taxes for 2022 or 2021. The Company makes cash payments for state income taxes in states in which the Company does not have net operating loss carry forwards. At December 31, 2021 the Company had federal and state net operating loss (“NOL”) carryforwards of $33,780 and $32,064, respectively, which expire at various dates in the next 17 years for U.S. federal income tax and in the next 6 to 16 years for the various state jurisdictions where we operate. Such NOL carryforwards expire beginning in 2028 through 2039. As a result of the Company’s analysis, management has determined that the Company does not have any material uncertain tax positions.

Stock Incentive Plan

Stock Incentive Plan	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Stock Incentive Plan	14. STOCK INCENTIVE PLAN General —The Company has a stock incentive plan (the “Stock Incentive Plan”) and an employee stock purchase plan (the “ESPP”) that are administered by the Compensation and Talent Development Committee of the Board of Directors. Under the Stock Incentive Plan, the Company can issue shares to employees and directors in the form of restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and performance share units (“PSUs”). Changes in common stock, additional paid in capital and treasury stock during the six months ended June 30, 2022 primarily relate to activity associated with the Stock Incentive Plan, the ESPP and shares withheld for taxes. Share Grants —During the six months ended June 30, 2022, the Company granted the following awards under the Stock Incentive Plan: Shares Weighted Average Grant-Date Fair Value per Share RSAs 26 $ 23.43 RSUs 110 $ 26.51 PSUs (at target) 154 $ 26.82 Total shares granted 290 Share Issuances —During the six months ended June 30, 2022, the Company issued the following shares under the Stock Incentive Plan and the ESPP: Shares RSAs (issued upon grant) 26 RSUs (issued upon vesting) 5 PSUs (issued upon vesting) 675 ESPP (issued upon sale) 18 Total shares issued 724 Stock-Based Compensation —During the three and six months ended June 30, 2022, the Company recognized $2,333 and $4,629, respectively, of stock-based compensation expense, and during the three and six months ended June 30, 2021, the Company recognized $2,015 and $3,850 of stock-based compensation expense, respectively, primarily within general and administrative expenses. Included within total stock-based compensation expense for the three and six months ended June 30, 2022 is $33 and $67, respectively, of expense related to the ESPP, and during the three and six months ended June 30, 2021, the Company recognized $22 and $47, respectively, of expense related to the ESPP. Additionally, the Company has liability-based awards for which the number of units awarded is not determined until the vesting date . During the three and six months ended June 30, 2022, the Company recognized $0 and $1,225, respectively, within additional paid in capital for the vesting of liability-based awards. The Company did not have any liability-based awards vest during 2021. The Company recognizes forfeitures as they occur, rather than estimating expected forfeitures. Shares Withheld for Taxes —The Company withheld zero and 263 shares for taxes on RSU/PSU stock-based compensation vestings for $0 and $7,386 during the three and six months ended June 30, 2022, respectively. AOCI —During the three and six months ended June 30, 2022, changes in AOCI were a result of net gains (losses) recognized in OCI and amounts reclassified from AOCI into earnings related to our interest rate derivative. See Note 10 - Financial Instruments for further discussion.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	15. EARNINGS PER SHARE The following table reconciles the numerators and denominators of the basic and diluted earnings per share computations for the three and six months ended June 30, 2022 and 2021: Three Months Ended June 30, Six Months Ended June 30, Numerator: 2022 2021 2022 2021 Net income attributable to Sterling common stockholders $ 25,961 $ 20,056 $ 45,213 $ 30,611 Denominator: Weighted average common shares outstanding — basic 30,225 28,582 30,094 28,433 Shares for dilutive unvested stock and warrants 137 472 135 445 Weighted average common shares outstanding — diluted 30,362 29,054 30,229 28,878 Basic net income per share attributable to Sterling common stockholders $ 0.86 $ 0.70 $ 1.50 $ 1.08 Diluted net income per share attributable to Sterling common stockholders $ 0.86 $ 0.69 $ 1.50 $ 1.06

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	16. SUPPLEMENTAL CASH FLOW INFORMATION Operating Assets and Liabilities— The following table summarizes the changes in the components of operating assets and liabilities: Six Months Ended June 30, 2022 2021 Accounts receivable $ (70,745) $ (34,105) Contracts in progress, net (4,328) 26,008 Receivables from and equity in construction joint ventures (14) (1,358) Other current and non-current assets (1,245) (8,448) Accounts payable 18,480 38,308 Accrued compensation and other liabilities 5,711 3,936 Members' interest subject to mandatory redemption and undistributed earnings (3,330) 3,703 Changes in operating assets and liabilities $ (55,471) $ 28,044

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	17. SEGMENT INFORMATION The Company’s internal and public segment reporting are aligned based upon the services offered by its operating segments. With the December 30, 2021 acquisition of Petillo, the Company realigned its operating groups to reflect management’s present oversight of operations. After realignment, the Company’s operations consist of three reportable segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions, with the commercial business reclassified from the previously reported Specialty Services operating group into the newly formed Building Solutions operating group. The segment information for the prior period has been recast to conform to the current presentation. The Company’s Chief Operating Decision Maker evaluates the performance of the operating segment based upon revenue and income from operations. We incur expenses at the corporate level that relate to our business as a whole. Certain of these amounts have been charged to our business segments by various methods, largely on the basis of usage, with the unallocated remainder reported in the “Corporate” line. Corporate overhead is primarily comprised of corporate headquarters facility expense, the cost of the executive management team, and expenses pertaining to certain centralized functions that benefit the entire Company but are not directly attributable to the businesses, such as corporate human resources, legal, governance and finance functions. The following table presents total revenue and income from operations by reportable segment for the three and six months ended June 30, 2022 and 2021: Three Months Ended June 30, Six Months Ended June 30, Revenues 2022 2021 2022 2021 E-Infrastructure Solutions $ 233,548 $ 123,743 $ 402,475 $ 220,315 Transportation Solutions 191,381 203,153 351,880 350,207 Building Solutions 85,639 74,770 166,533 146,460 Total Revenues $ 510,568 $ 401,666 $ 920,888 $ 716,982 Operating Income E-Infrastructure Solutions $ 32,824 $ 24,714 $ 54,109 $ 42,526 Transportation Solutions 5,107 4,796 8,793 7,462 Building Solutions 9,751 6,790 19,109 14,151 Segment Operating Income 47,682 36,300 82,011 64,139 Corporate (6,362) (3,580) (12,167) (8,664) Acquisition Related Costs (230) — (485) — Total Operating Income $ 41,090 $ 32,720 $ 69,359 $ 55,475

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Presentation Basis	Presentation Basis— The accompanying Condensed Consolidated Financial Statements are presented in accordance with accounting policies generally accepted in the United States (“GAAP”) and reflect all wholly owned subsidiaries and those entities the Company is required to consolidate. See Note 5 - Consolidated 50% Owned Subsidiaries and Note 6 - Construction Joint Ventures for further discussion of the Company’s consolidation policy for those entities that are not wholly owned. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair presentation have been included. All significant intercompany accounts and transactions have been eliminated in consolidation. Values presented within tables (excluding per share data) are in thousands. Reclassifications have been made to historical financial data to conform to the current period presentation.
Estimates and Judgments	Estimates and Judgments— The preparation of the accompanying Condensed Consolidated Financial Statements in conformance with GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Certain accounting estimates of the Company require a higher degree of judgment than others in their application. These include the recognition of revenue and earnings from construction contracts over time, the valuation of long-lived assets, goodwill and purchase accounting estimates. Management continually evaluates all of its estimates and judgments based on available information and experience; however, actual results could differ from these estimates.
Accounts Receivable	Accounts Receivable— Receivables are generally based on amounts billed to the customer in accordance with contractual provisions. Receivables are written off based on the individual credit evaluation and specific circumstances of the customer, when such treatment is warranted. The Company performs a review of outstanding receivables, historical collection information and existing economic conditions to determine if there are potential uncollectible receivables. At June 30, 2022 and December 31, 2021, our allowance for our estimate of expected credit losses was zero.
Contracts in Progress	Contracts in Progress— For performance obligations satisfied over time, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals (e.g., biweekly or monthly) or upon achievement of contractual milestones. Typically, Sterling bills for advances or deposits from its customers before revenue is recognized, resulting in contract liabilities. However, the Company occasionally bills subsequent to revenue recognition, resulting in contract assets. Many of the contracts under which the Company performs work also contain retainage provisions. Retainage refers to that portion of our billings held for payment by the customer pending satisfactory completion of the project. Unless reserved, the Company assumes that all amounts retained by customers under such provisions are fully collectible. At June 30, 2022 and December 31, 2021, contract assets included $68,316 and $47,308 of retainage, respectively, and contract liabilities included $47,037 and $46,882 of retainage, respectively. Retainage on active contracts is classified as current regardless of the term of the contract and is generally collected within one year of the completion of a contract. We anticipate collecting approximately 61% of our June 30, 2022 retainage during the next twelve months. These assets and liabilities are reported on the Condensed Consolidated Balance Sheet within “Contract assets” and “Contract liabilities” on a contract-by-contract basis at the end of each reporting period. Revenue recognized for the three and six months ended June 30, 2022 that was included in the contract liability balance on December 31, 2021 was $245,185 and $472,264, respectively. Revenue recognized for the three and six months ended June 30, 2021 that was included in the contract liability balance on December 31, 2020 was $141,813 and $297,370, respectively.
Cash and Restricted Cash	Cash and Restricted Cash— Our cash is comprised of highly liquid investments with maturities of three months or less. Restricted cash of $7,580 and $6,853 is included in “Other current assets” on the Condensed Consolidated Balance Sheets at June 30, 2022 and December 31, 2021, respectively. This primarily represents cash deposited by the Company into separate accounts and designated as collateral for standby letters of credit in the same amount in accordance with contractual agreements.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Summary of Fair Value Consideration Transferred	Purchase Consideration— Sterling completed the Acquisition for a purchase price of $196,763, net of cash acquired, detailed as follows: Cash consideration transferred, net of cash acquired $ 175,000 Equity consideration transferred (759 shares at $26.87 per share (1) ) 20,406 Target working capital adjustment 1,357 Total consideration $ 196,763 (1) Sterling’s closing stock price on December 29, 2021.
Summary of Preliminary Purchase Price Allocation	The following table summarizes our purchase price allocation at the Acquisition Closing Date, net of cash acquired: Net tangible assets: Accounts receivable $ 45,016 Contract assets 5,953 Other current assets 193 Property and equipment, net 47,141 Other non-current assets, net 5,498 Accounts payable (21,810) Contract liabilities (8,585) Other current liabilities (8,216) Total net tangible assets 65,190 Identifiable intangible assets 70,700 Goodwill 60,873 Total consideration transferred $ 196,763
Schedule of Identifiable Intangible Assets Acquired	Weighted Average Life (Years) December 30, 2021 Customer relationships 25 $ 43,200 Trade names 25 27,500 Total $ 70,700
Summary of Proforma Information	Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Pro forma revenue $ 455,827 $ 799,366 Pro forma net income attributable to Sterling $ 24,053 $ 34,345

Revenue From Customers (Tables)

Revenue From Customers (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Backlog By Segment	The following table presents the Company’s backlog, by segment: June 30, December 31, E-Infrastructure Solutions Backlog $ 523,703 $ 432,613 Transportation Solutions Backlog 939,329 963,267 Building Solutions Backlog - Commercial 80,624 97,235 Total Backlog $ 1,543,656 $ 1,493,115
Disaggregation of Revenue	The following tables present the Company’s revenue disaggregated by major end market and contract type: Three Months Ended June 30, Six Months Ended June 30, Revenues by major end market 2022 2021 2022 2021 E-Infrastructure Solutions Revenues $ 233,548 $ 123,743 $ 402,475 $ 220,315 Heavy Highway 139,624 139,189 252,369 238,705 Aviation 18,934 36,754 36,517 63,976 Water Containment and Treatment 17,117 16,208 37,004 30,427 Other 15,706 11,002 25,990 17,099 Transportation Solutions Revenues 191,381 203,153 351,880 350,207 Residential 60,471 46,609 114,741 90,783 Commercial 25,168 28,161 51,792 55,677 Building Solutions Revenues 85,639 74,770 166,533 146,460 Total Revenues $ 510,568 $ 401,666 $ 920,888 $ 716,982 Revenues by contract type Fixed-Unit Price $ 180,408 $ 225,886 $ 336,718 $ 403,434 Lump-Sum 267,274 127,416 465,142 218,571 Residential and Other 62,886 48,364 119,028 94,977 Total Revenues $ 510,568 $ 401,666 $ 920,888 $ 716,982

Consolidated 50% Owned Subsid_2

Consolidated 50% Owned Subsidiaries (Tables)	6 Months Ended
	Jun. 30, 2022
Noncontrolling Interest [Abstract]
Summary of Liability Breakdown	The liability consists of the following: June 30, December 31, Members’ interest subject to mandatory redemption $ 40,000 $ 40,000 Net accumulated earnings 14,214 15,115 Total liability $ 54,214 $ 55,115
Summary of Financial Information	Summary financial information for Myers is as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenues $ 48,741 $ 43,137 $ 93,099 $ 71,094 Operating (loss) income $ (4,608) $ 747 $ (6,056) $ 1,465 Net (loss) income $ (2,305) $ 366 $ (568) $ 717 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenues $ 12,609 $ 9,325 $ 20,462 $ 17,566 Operating income $ 836 $ 613 $ 1,388 $ 3,140 Net income $ 840 $ 615 $ 1,394 $ 3,143 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenues $ 57,918 $ 62,489 $ 116,477 $ 111,906 Income before tax $ 7,567 $ 8,780 $ 14,344 $ 13,415 Sterling’s noncontrolling interest: Revenues $ 23,970 $ 26,994 $ 50,578 $ 48,938 Income before tax $ 2,948 $ 3,676 $ 6,015 $ 5,811

Construction Joint Ventures (Ta

Construction Joint Ventures (Tables)	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Condensed Income Statement	Summary financial information for Myers is as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenues $ 48,741 $ 43,137 $ 93,099 $ 71,094 Operating (loss) income $ (4,608) $ 747 $ (6,056) $ 1,465 Net (loss) income $ (2,305) $ 366 $ (568) $ 717 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenues $ 12,609 $ 9,325 $ 20,462 $ 17,566 Operating income $ 836 $ 613 $ 1,388 $ 3,140 Net income $ 840 $ 615 $ 1,394 $ 3,143 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenues $ 57,918 $ 62,489 $ 116,477 $ 111,906 Income before tax $ 7,567 $ 8,780 $ 14,344 $ 13,415 Sterling’s noncontrolling interest: Revenues $ 23,970 $ 26,994 $ 50,578 $ 48,938 Income before tax $ 2,948 $ 3,676 $ 6,015 $ 5,811
Condensed Balance Sheet	June 30, December 31, Current assets $ 109,823 $ 130,898 Current liabilities $ (67,427) $ (91,121) Sterling’s receivables from and equity in construction joint ventures $ 16,910 $ 16,896

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment are summarized as follows: June 30, December 31, Construction and transportation equipment $ 342,504 $ 316,381 Buildings and improvements 25,366 24,042 Land 3,891 3,891 Office equipment 3,513 3,270 Total property and equipment 375,274 347,584 Less accumulated depreciation (160,298) (143,268) Total property and equipment, net $ 214,976 $ 204,316

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following table presents our acquired finite-lived intangible assets, including the weighted-average useful lives for each major intangible asset category and in total: June 30, 2022 December 31, 2021 Weighted Gross Accumulated Gross Accumulated Customer relationships 25 $ 275,823 $ (31,441) $ 274,923 $ (25,838) Trade names 24 57,607 (5,970) 57,607 (4,726) Non-compete agreements 5 2,487 (1,465) 2,487 (1,230) Total 24 $ 335,917 $ (38,876) $ 335,017 $ (31,794)

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The Company’s outstanding debt was as follows: June 30, December 31, Term Loan Facility $ 435,275 $ 446,888 Revolving Credit Facility — — Credit Facility 435,275 446,888 Other debt 11,274 15,309 Total debt 446,549 462,197 Less - Current maturities of long-term debt (26,273) (28,230) Less - Unamortized debt issuance costs (4,278) (5,379) Total long-term debt $ 415,998 $ 428,588

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Liabilities at Fair Value	The following table presents the fair value of the interest rate derivative by valuation hierarchy and balance sheet classification: June 30, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Derivative Assets Other current assets $ — $ 847 $ — $ 847 $ — $ — $ — $ — Other non-current assets — — — — — — — — Total assets at fair value $ — $ 847 $ — $ 847 $ — $ — $ — $ — Derivative Liabilities Other current liabilities $ — $ — $ — $ — $ — $ (2,438) $ — $ (2,438) Other non-current liabilities — — — — — — — — Total liabilities at fair value $ — $ — $ — $ — $ — $ (2,438) $ — $ (2,438)
Schedule of Changes in AOCI	Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Before Tax Tax Net of Tax Before Tax Tax Net of Tax Net gain (loss) recognized in OCI $ 672 $ (153) $ 519 $ 1,957 $ (446) $ 1,511 Net amount reclassified from AOCI into earnings (1) 415 (95) 320 1,156 (265) 891 Change in other comprehensive income $ 1,087 $ (248) $ 839 $ 3,113 $ (711) $ 2,402 Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Before Tax Tax Net of Tax Before Tax Tax Net of Tax Net gain (loss) recognized in OCI $ (82) $ 19 $ (63) $ 44 $ (10) $ 34 Net amount reclassified from AOCI into earnings (1) 1,024 (233) 791 2,058 (469) 1,589 Change in other comprehensive income $ 942 $ (214) $ 728 $ 2,102 $ (479) $ 1,623 (1) Net unrealized gains totaling $878 are anticipated to be reclassified from AOCI into earnings during the next 12 months due to settlement of the associated underlying obligations.

Lease Obligations (Tables)

Lease Obligations (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Schedule of Lease Expenses	The components of lease expense are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost $ 5,452 $ 1,510 $ 8,145 $ 3,022 Short-term lease cost $ 3,180 $ 2,911 $ 6,348 $ 5,035 Finance lease cost: Amortization of right-of-use assets $ 36 $ 46 $ 77 $ 96 Interest on lease liabilities 3 5 7 11 Total finance lease cost $ 39 $ 51 $ 84 $ 107 Supplemental cash flow information related to leases is as follows: Six Months Ended June 30, Cash paid for amounts included in the measurement of lease liabilities: 2022 2021 Operating cash flows from operating leases $ 8,311 $ 2,980 Operating cash flows from finance leases $ 7 $ 11 Financing cash flows from finance leases $ 77 $ 96 Right-of-use assets obtained in exchange for lease obligations (non-cash): Operating leases $ 30,192 $ 3,496 Finance leases $ — $ — Supplemental balance sheet information related to leases is as follows: Operating Leases June 30, December 31, Operating lease right-of-use assets $ 46,628 $ 24,520 Current portion of long-term lease obligations $ 12,582 $ 8,841 Long-term lease obligations 34,103 15,831 Total operating lease liabilities $ 46,685 $ 24,672 Finance Leases Property and equipment, at cost $ 1,479 $ 1,479 Accumulated depreciation (987) (907) Property and equipment, net $ 492 $ 572 Current maturities of long-term debt $ 144 $ 148 Long-term debt 151 224 Total finance lease liabilities $ 295 $ 372 Weighted Average Remaining Lease Term Operating leases 5.0 5.4 Finance leases 2.0 2.5 Weighted Average Discount Rate Operating leases 5.0 % 5.0 % Finance leases 4.3 % 4.3 %
Maturities of Lease Liabilities, Operating Leases	Maturities of lease liabilities are as follows: Year Ending December 31, Operating Finance 2022 (excluding the six months ended June 30, 2022) $ 6,741 $ 77 2023 13,091 154 2024 11,111 77 2025 8,377 — 2026 5,093 — 2027 2,163 — Thereafter 6,391 — Total lease payments $ 52,967 $ 308 Less imputed interest (6,282) (13) Total $ 46,685 $ 295
Maturities of Lease Liabilities, Finance Leases	Maturities of lease liabilities are as follows: Year Ending December 31, Operating Finance 2022 (excluding the six months ended June 30, 2022) $ 6,741 $ 77 2023 13,091 154 2024 11,111 77 2025 8,377 — 2026 5,093 — 2027 2,163 — Thereafter 6,391 — Total lease payments $ 52,967 $ 308 Less imputed interest (6,282) (13) Total $ 46,685 $ 295

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Taxes	The components of the provision for income taxes were as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Current tax expense $ 1,403 $ 1,027 $ 2,360 $ 1,645 Deferred tax expense 8,865 7,152 14,505 11,294 Income tax expense $ 10,268 $ 8,179 $ 16,865 $ 12,939 Cash paid for income taxes $ 2,798 $ 1,700 $ 2,798 $ 1,700

Stock Incentive Plan (Tables)

Stock Incentive Plan (Tables)	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of Share Grants and Issuances	During the six months ended June 30, 2022, the Company granted the following awards under the Stock Incentive Plan: Shares Weighted Average Grant-Date Fair Value per Share RSAs 26 $ 23.43 RSUs 110 $ 26.51 PSUs (at target) 154 $ 26.82 Total shares granted 290 Shares RSAs (issued upon grant) 26 RSUs (issued upon vesting) 5 PSUs (issued upon vesting) 675 ESPP (issued upon sale) 18 Total shares issued 724

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles the numerators and denominators of the basic and diluted earnings per share computations for the three and six months ended June 30, 2022 and 2021: Three Months Ended June 30, Six Months Ended June 30, Numerator: 2022 2021 2022 2021 Net income attributable to Sterling common stockholders $ 25,961 $ 20,056 $ 45,213 $ 30,611 Denominator: Weighted average common shares outstanding — basic 30,225 28,582 30,094 28,433 Shares for dilutive unvested stock and warrants 137 472 135 445 Weighted average common shares outstanding — diluted 30,362 29,054 30,229 28,878 Basic net income per share attributable to Sterling common stockholders $ 0.86 $ 0.70 $ 1.50 $ 1.08 Diluted net income per share attributable to Sterling common stockholders $ 0.86 $ 0.69 $ 1.50 $ 1.06

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following table summarizes the changes in the components of operating assets and liabilities: Six Months Ended June 30, 2022 2021 Accounts receivable $ (70,745) $ (34,105) Contracts in progress, net (4,328) 26,008 Receivables from and equity in construction joint ventures (14) (1,358) Other current and non-current assets (1,245) (8,448) Accounts payable 18,480 38,308 Accrued compensation and other liabilities 5,711 3,936 Members' interest subject to mandatory redemption and undistributed earnings (3,330) 3,703 Changes in operating assets and liabilities $ (55,471) $ 28,044

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents total revenue and income from operations by reportable segment for the three and six months ended June 30, 2022 and 2021: Three Months Ended June 30, Six Months Ended June 30, Revenues 2022 2021 2022 2021 E-Infrastructure Solutions $ 233,548 $ 123,743 $ 402,475 $ 220,315 Transportation Solutions 191,381 203,153 351,880 350,207 Building Solutions 85,639 74,770 166,533 146,460 Total Revenues $ 510,568 $ 401,666 $ 920,888 $ 716,982 Operating Income E-Infrastructure Solutions $ 32,824 $ 24,714 $ 54,109 $ 42,526 Transportation Solutions 5,107 4,796 8,793 7,462 Building Solutions 9,751 6,790 19,109 14,151 Segment Operating Income 47,682 36,300 82,011 64,139 Corporate (6,362) (3,580) (12,167) (8,664) Acquisition Related Costs (230) — (485) — Total Operating Income $ 41,090 $ 32,720 $ 69,359 $ 55,475

Nature of Operations (Details)

Nature of Operations (Details)	6 Months Ended
	Jun. 30, 2022 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Allowance for doubtful accounts against contracts receivable	$ 0		$ 0		$ 0
Contract receivables	68,316,000		68,316,000		47,308,000
Contract liabilities, retainage	$ 47,037,000		$ 47,037,000		46,882,000
Percentage of receivables estimated to be collected in next fiscal year	61%		61%
Contract liability recognized during period	$ 245,185,000		$ 472,264,000
Contract liability revenue recognized		$ 141,813,000		$ 297,370,000
Restricted cash	7,580,000	$ 6,411,000	7,580,000	$ 6,411,000
Other current assets
Property, Plant and Equipment [Line Items]
Restricted cash	$ 7,580,000		$ 7,580,000		$ 6,853,000

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands		6 Months Ended
	Dec. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 252,887	$ 259,791
Expected tax deductible, period	15 years
Petillo
Business Acquisition [Line Items]
Goodwill	$ 60,873
Expected tax deductible amount	$ 132,000
Consideration transferred		$ 7,800

Acquisitions - Consideration Tr

Acquisitions - Consideration Transferred and Purchase Price Allocation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Dec. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract]
Goodwill		$ 252,887	$ 259,791
Petillo
Business Combination, Consideration Transferred [Abstract]
Cash consideration transferred, net of cash acquired	$ 175,000
Equity consideration transferred (in shares)	759
Business acquisition, price per share	$ 26.87
Share consideration given for acquisitions	$ 20,406
Target working capital adjustment	1,357
Aggregate consideration	196,763
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract]
Accounts receivable	45,016
Contract assets	5,953
Other current assets	193
Property and equipment, net	47,141
Other non-current assets, net	5,498
Accounts payable	(21,810)
Contract liabilities	(8,585)
Other current liabilities	(8,216)
Total net tangible assets	65,190
Identifiable intangible assets	70,700
Goodwill	60,873
Total consideration transferred	$ 196,763

Acquisitions - Schedule of Iden

Acquisitions - Schedule of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands		6 Months Ended
	Dec. 30, 2021	Jun. 30, 2022
Business Acquisition [Line Items]
Weighted Average Life (Years)		24 years
Petillo
Business Acquisition [Line Items]
Fair value	$ 70,700
Customer relationships
Business Acquisition [Line Items]
Weighted Average Life (Years)		25 years
Customer relationships | Petillo
Business Acquisition [Line Items]
Weighted Average Life (Years)	25 years
Fair value	$ 43,200
Trade names
Business Acquisition [Line Items]
Weighted Average Life (Years)		24 years
Trade names | Petillo
Business Acquisition [Line Items]
Weighted Average Life (Years)	25 years
Fair value	$ 27,500

Acquisitions - Supplemental Pro

Acquisitions - Supplemental Pro Forma Information (Details) - Petillo - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Business Acquisition [Line Items]
Pro forma revenue	$ 455,827	$ 799,366
Pro forma net income attributable to Sterling	$ 24,053	$ 34,345

Revenue From Customers - Backlo

Revenue From Customers - Backlog By Segment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Backlog	$ 1,543,656	$ 1,493,115
E-Infrastructure Solutions Backlog
Disaggregation of Revenue [Line Items]
Backlog	523,703	432,613
Transportation Solutions Revenues
Disaggregation of Revenue [Line Items]
Backlog	939,329	963,267
Building Solutions Backlog - Commercial
Disaggregation of Revenue [Line Items]
Backlog	$ 80,624	$ 97,235

Revenue from Customers - Revenu

Revenue from Customers - Revenue Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 510,568	$ 401,666	$ 920,888	$ 716,982
Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	510,568	401,666	920,888	716,982
E-Infrastructure Solutions Backlog | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	233,548	123,743	402,475	220,315
Transportation Solutions Revenues | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	191,381	203,153	351,880	350,207
Transportation Solutions Revenues | Heavy Highway
Disaggregation of Revenue [Line Items]
Revenues	139,624	139,189	252,369	238,705
Transportation Solutions Revenues | Aviation
Disaggregation of Revenue [Line Items]
Revenues	18,934	36,754	36,517	63,976
Transportation Solutions Revenues | Water Containment and Treatment
Disaggregation of Revenue [Line Items]
Revenues	17,117	16,208	37,004	30,427
Transportation Solutions Revenues | Other
Disaggregation of Revenue [Line Items]
Revenues	15,706	11,002	25,990	17,099
Building Solutions Backlog - Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	85,639	74,770	166,533	146,460
Building Solutions Backlog - Commercial | Residential
Disaggregation of Revenue [Line Items]
Revenues	60,471	46,609	114,741	90,783
Building Solutions Backlog - Commercial | Commercial
Disaggregation of Revenue [Line Items]
Revenues	25,168	28,161	51,792	55,677
Fixed-Unit Price
Disaggregation of Revenue [Line Items]
Revenues	180,408	225,886	336,718	403,434
Lump-Sum
Disaggregation of Revenue [Line Items]
Revenues	267,274	127,416	465,142	218,571
Residential and Other
Disaggregation of Revenue [Line Items]
Revenues	$ 62,886	$ 48,364	$ 119,028	$ 94,977

Revenue from Customers - Narrat

Revenue from Customers - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation expected to be recognized over next twelve months	65%		65%
Remaining performance obligation period	12 months		12 months
Operating income (Loss)
Disaggregation of Revenue [Line Items]
Estimated construction gain (loss) before tax	$ 10,600	$ 3,700	$ 26,000	$ 12,000
Costs and Estimated Earnings in Excess of Billings
Disaggregation of Revenue [Line Items]
Contracts receivable unpaid project contract price	$ 13,985		$ 13,985		$ 13,905

Consolidated 50% Owned Subsid_3

Consolidated 50% Owned Subsidiaries - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) insurancePolicy entity	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) entity	Jun. 30, 2021 USD ($)	Mar. 31, 2022	Dec. 31, 2021 USD ($) entity
Noncontrolling Interest [Line Items]
Ownership interest in subsidiaries	50%		50%		50%	50%
Number of entities | entity	2		2			1
Members’ interest subject to mandatory redemption	$ 40,000		$ 40,000			$ 40,000
Number of death and disability insurance policies | insurancePolicy	2
Total disability insurance policies, per policy amount	$ 20,000		20,000
Myers
Noncontrolling Interest [Line Items]
Net accumulated earnings	100	$ 4,800	1,100	$ 6,600
Variable Interest Entity, Primary Beneficiary | Myers
Noncontrolling Interest [Line Items]
Members’ interest subject to mandatory redemption	$ 20,000		$ 20,000

Consolidated 50% Owned Subsid_4

Consolidated 50% Owned Subsidiaries - Components of Noncontrolling Interest (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Noncontrolling Interest [Abstract]
Members’ interest subject to mandatory redemption	$ 40,000	$ 40,000
Net accumulated earnings	14,214	15,115
Total liability	$ 54,214	$ 55,115

Consolidated 50% Owned Subsid_5

Consolidated 50% Owned Subsidiaries Consolidated 50% Owned Subsidiaries - Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Variable Interest Entity [Line Items]
Operating income	$ 41,090	$ 32,720	$ 69,359	$ 55,475
Net (loss) income	25,961	20,056	45,213	30,611
Variable Interest Entity, Primary Beneficiary | Myers
Variable Interest Entity [Line Items]
Revenues	48,741	43,137	93,099	71,094
Operating income	(4,608)	747	(6,056)	1,465
Net (loss) income	$ (2,305)	$ 366	$ (568)	$ 717

Construction Joint Ventures - S

Construction Joint Ventures - SEMA Financials (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule of Equity Method Investments [Line Items]
Operating income	$ 41,090	$ 32,720	$ 69,359	$ 55,475
Net (loss) income	25,961	20,056	$ 45,213	30,611
RLW | Joint Ventures
Schedule of Equity Method Investments [Line Items]
Ownership percentage			51%
SEMA Construction Inc | Joint Ventures | Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Revenues	12,609	9,325	$ 20,462	17,566
Operating income	836	613	1,388	3,140
Net (loss) income	$ 840	$ 615	$ 1,394	$ 3,143

Construction Joint Ventures - C

Construction Joint Ventures - Construction Joint Ventures, Partner Share (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Current assets	$ 537,496	$ 434,691
Current liabilities	(407,389)	(351,760)
Sterling’s receivables from and equity in construction joint ventures	16,910	16,896
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Current assets	109,823	130,898
Current liabilities	(67,427)	(91,121)
Sterling’s receivables from and equity in construction joint ventures	$ 16,910	$ 16,896

Construction Joint Ventures - I

Construction Joint Ventures - Income Statement Information (Details) - Equity Method Investment, Nonconsolidated Investee or Group of Investees - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule of Equity Method Investments [Line Items]
Revenues	$ 57,918
Joint Ventures
Schedule of Equity Method Investments [Line Items]
Revenues		$ 62,489	$ 116,477	$ 111,906
Income before tax	7,567	8,780	14,344	13,415
Sterling’s noncontrolling interest:
Revenues	23,970	26,994	50,578	48,938
Income before tax	$ 2,948	$ 3,676	$ 6,015	$ 5,811

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 375,274		$ 375,274		$ 347,584
Less accumulated depreciation	(160,298)		(160,298)		(143,268)
Total property and equipment, net	214,976		214,976		204,316
Depreciation	10,131	$ 5,536	18,330	$ 10,975
Construction and transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	342,504		342,504		316,381
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	25,366		25,366		24,042
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,891		3,891		3,891
Office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 3,513		$ 3,513		$ 3,270

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)			24 years
Gross Carrying Amount	$ 335,917		$ 335,917		$ 335,017
Accumulated Amortization	(38,876)		(38,876)		(31,794)
Amortization of intangible assets	3,514	$ 2,866	$ 7,082	$ 5,732
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)			25 years
Gross Carrying Amount	275,823		$ 275,823		274,923
Accumulated Amortization	(31,441)		$ (31,441)		(25,838)
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)			24 years
Gross Carrying Amount	57,607		$ 57,607		57,607
Accumulated Amortization	(5,970)		$ (5,970)		(4,726)
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)			5 years
Gross Carrying Amount	2,487		$ 2,487		2,487
Accumulated Amortization	$ (1,465)		$ (1,465)		$ (1,230)

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt	$ 446,549,000	$ 462,197,000
Less - Current maturities of long-term debt	(26,273,000)	(28,230,000)
Less - Unamortized debt issuance costs	(4,278,000)	(5,379,000)
Total long-term debt	415,998,000	428,588,000
Other debt
Debt Instrument [Line Items]
Long-term debt	11,274,000	15,309,000
Secured Debt | Term Loan Facility
Debt Instrument [Line Items]
Long-term debt	435,275,000	446,888,000
Secured Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	0	0
Secured Debt | Credit Facility
Debt Instrument [Line Items]
Long-term debt	$ 435,275,000	$ 446,888,000

Debt - Narrative (Details)

Debt - Narrative (Details)		3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($) entity	Jun. 30, 2022 USD ($) entity	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) entity	Jun. 30, 2021 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) entity
Debt Instrument [Line Items]
Long-term debt	$ 446,549,000	$ 446,549,000			$ 446,549,000					$ 462,197,000
Amortization of debt issuance costs		$ 546,000		$ 604,000	$ 1,102,000	$ 1,264,000
Number of entities | entity	2	2			2					1
Ownership interest in subsidiaries	50%	50%	50%		50%					50%
Gain (loss) on extinguishment of debt		$ 0		$ 1,401,000	$ 2,428,000	$ 1,064,000
Plateau Excavation
Debt Instrument [Line Items]
Estimated tax basis step-up payment										$ 10,000,000
Credit Agreement
Debt Instrument [Line Items]
Cash flow prepayment term					5 days
Paycheck Protection Program
Debt Instrument [Line Items]
Loan amount forgiven			$ 4,800,000
Gain (loss) on extinguishment of debt			$ 2,428,000
Secured Debt | Interest Rate Swap
Debt Instrument [Line Items]
Derivative, notional amount	$ 200,000,000	$ 200,000,000			$ 200,000,000
Secured Debt | Term Loan Facility
Debt Instrument [Line Items]
Weighted average interest rate	4.13%	4.13%			4.13%
Repayments of debt					$ 11,612,000
Long-term debt	$ 435,275,000	$ 435,275,000			435,275,000					$ 446,888,000
Secured Debt | Term Loan Facility | Forecast
Debt Instrument [Line Items]
Periodic payments							$ 26,100,000	$ 31,900,000	$ 23,200,000
Secured Debt | Term Loan Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument face amount	540,000,000	540,000,000			540,000,000
Line of Credit | Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 75,000,000	75,000,000			75,000,000
Debt instrument, LIBOR interest rate	1.06%
Line of Credit | Revolving Credit Facility | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	2%
Line of Credit | Revolving Credit Facility | Swing Line Loan
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 15,000,000	$ 15,000,000			$ 15,000,000

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Derivative [Line Items]
Long-term debt	$ 446,549		$ 446,549		$ 462,197
Fair value of contracts	1,087	$ 942	3,113	$ 2,102
Interest Rate Swap
Derivative [Line Items]
Fair value of contracts			878
Secured Debt | Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	200,000		200,000
Secured Debt | Term Loan Facility
Derivative [Line Items]
Long-term debt	$ 435,275		$ 435,275		$ 446,888

Financial Instruments - Fair Va

Financial Instruments - Fair Value of the Interest Rate Derivative (Details) - Fair Value, Recurring - Interest Rate Swap - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivative Assets
Other current assets	$ 847	$ 0
Other non-current assets	0	0
Total assets at fair value	847	0
Derivative Liabilities
Other current liabilities	0	(2,438)
Other non-current liabilities	0	0
Total liabilities at fair value	0	(2,438)
Level 1
Derivative Assets
Other current assets	0	0
Other non-current assets	0	0
Total assets at fair value	0	0
Derivative Liabilities
Other current liabilities	0	0
Other non-current liabilities	0	0
Total liabilities at fair value	0	0
Level 2
Derivative Assets
Other current assets	847	0
Other non-current assets	0	0
Total assets at fair value	847	0
Derivative Liabilities
Other current liabilities	0	(2,438)
Other non-current liabilities	0	0
Total liabilities at fair value	0	(2,438)
Level 3
Derivative Assets
Other current assets	0	0
Other non-current assets	0	0
Total assets at fair value	0	0
Derivative Liabilities
Other current liabilities	0	0
Other non-current liabilities	0	0
Total liabilities at fair value	$ 0	$ 0

Financial Instruments - Schedul

Financial Instruments - Schedule of Total Value Recognized in Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net gain (loss) recognized in OCI, before tax amount	$ 672		$ (82)		$ 1,957	$ 44
Net gain (loss) recognized in OCI, tax amount	(153)		19		(446)	(10)
Net gain (loss) recognized in OCI, net of tax amount	519		(63)		1,511	34
Net amount reclassified from AOCI into earnings, before tax amount	415		1,024		1,156	2,058
Net amount reclassified from AOCI into earnings, tax amount	(95)		(233)		(265)	(469)
Net amount reclassified from AOCI into earnings, net of tax amount	320		791		891	1,589
Change in OCI, before tax amount	1,087		942		3,113	2,102
Change in OCI, tax amount	(248)		(214)		(711)	(479)
Change in OCI, net of tax amount	$ 839	$ 1,563	$ 728	$ 895	2,402	$ 1,623
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Change in OCI, before tax amount					878
Interest Expense | Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized gains expected to be reclassified from AOCI within next 12 months					$ 878

Lease Obligations (Details)

Lease Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Lease termination period			10 years
Lease, Cost [Abstract]
Operating lease cost	$ 5,452	$ 1,510	$ 8,145	$ 3,022
Short-term lease cost	3,180	2,911	6,348	5,035
Finance lease cost:
Amortization of right-of-use assets	36	46	77	96
Interest on lease liabilities	3	5	7	11
Total finance lease cost	39	$ 51	84	107
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			8,311	2,980
Operating cash flows from finance leases			7	11
Financing cash flows from finance leases			77	96
Right-of-use assets obtained in exchange for lease obligations (non-cash):
Operating leases			30,192	3,496
Finance leases			0	$ 0
Assets and Liabilities, Lessee [Abstract]
Operating lease right-of-use assets	46,628		46,628		$ 24,520
Current portion of long-term lease obligations	12,582		12,582		8,841
Long-term lease obligations	34,103		34,103		15,831
Total operating lease liabilities	46,685		46,685		24,672
Property and equipment, at cost	1,479		1,479		1,479
Accumulated depreciation	$ (987)		$ (987)		$ (907)
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property and equipment, net ($10,095 and $10,420 related to VIEs)		Property and equipment, net ($10,095 and $10,420 related to VIEs)		Property and equipment, net ($10,095 and $10,420 related to VIEs)
Property and equipment, net	$ 492		$ 492		$ 572
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current maturities of long-term debt ($0 and $4,857 related to VIEs)		Current maturities of long-term debt ($0 and $4,857 related to VIEs)		Current maturities of long-term debt ($0 and $4,857 related to VIEs)
Current maturities of long-term debt	$ 144		$ 144		$ 148
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt ($0 and $81 related to VIEs)		Long-term debt ($0 and $81 related to VIEs)		Long-term debt ($0 and $81 related to VIEs)
Long-term debt	$ 151		$ 151		$ 224
Total finance lease liabilities	$ 295		$ 295		$ 372
Weighted average remaining lease term: operating leases	5 years		5 years		5 years 4 months 24 days
Weighted average remaining lease term: financing leases	2 years		2 years		2 years 6 months
Weighted average discount rate: operating lease	5%		5%		5%
Weighted average discount rate: financing lease	4.30%		4.30%		4.30%
Operating Leases
2022 (excluding the six months ended June 30, 2022)	$ 6,741		$ 6,741
2023	13,091		13,091
2024	11,111		11,111
2025	8,377		8,377
2026	5,093		5,093
2027	2,163		2,163
Thereafter	6,391		6,391
Total lease payments	52,967		52,967
Less imputed interest	(6,282)		(6,282)
Total operating lease liabilities	46,685		46,685		$ 24,672
Finance Leases
2022 (excluding the six months ended June 30, 2022)	77		77
2023	154		154
2024	77		77
2025	0		0
2026	0		0
2027	0		0
Thereafter	0		0
Total lease payments	308		308
Less imputed interest	(13)		(13)
Total finance lease liabilities	$ 295		$ 295		$ 372
Minimum
Lessee, Lease, Description [Line Items]
Lease renewal term			1 month
Maximum
Lessee, Lease, Description [Line Items]
Lease renewal term			10 years

Commitments and Contingencies (

Commitments and Contingencies (Details)	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Ownership interest in subsidiaries	50%	50%	50%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Current tax expense	$ 1,403	$ 1,027	$ 2,360	$ 1,645
Deferred tax expense	8,865	7,152	14,505	11,294
Income tax expense	10,268	8,179	16,865	12,939
Cash paid for income taxes	$ 2,798	$ 1,700	$ 2,798	$ 1,700
Effective income tax rate reconciliation	28%		26.90%
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards					$ 33,780
Operating loss carryforward expiration period			17 years
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards					$ 32,064
Minimum | State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforward expiration period			6 years
Maximum | State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforward expiration period			16 years

Stock Incentive Plan - Share Gr

Stock Incentive Plan - Share Grants (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Class of Stock [Line Items]
Shares granted (in shares)	290
RSAs
Class of Stock [Line Items]
Shares granted (in shares)	26
Weighted Average Grant-Date Fair Value per Share (in dollars per share) | $ / shares	$ 23.43
RSUs
Class of Stock [Line Items]
Shares granted (in shares)	110
Weighted Average Grant-Date Fair Value per Share (in dollars per share) | $ / shares	$ 26.51
PSUs
Class of Stock [Line Items]
Shares granted (in shares)	154
Weighted Average Grant-Date Fair Value per Share (in dollars per share) | $ / shares	$ 26.82

Stock Incentive Plan - Share Is

Stock Incentive Plan - Share Issuances (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2022 shares
Class of Stock [Line Items]
Shares issued (in shares)	724
RSAs
Class of Stock [Line Items]
Shares issued (in shares)	26
RSUs
Class of Stock [Line Items]
Shares issued (in shares)	5
PSUs
Class of Stock [Line Items]
Shares issued (in shares)	675
ESPP
Class of Stock [Line Items]
Shares issued (in shares)	18

Stock Incentive Plan - Narrativ

Stock Incentive Plan - Narrative (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Sale of Stock [Line Items]
Stock-based compensation expense	$ 2,333		$ 2,015		$ 4,629	$ 3,850
Shares withheld for taxes		$ 7,386		$ 5,619
Additional Paid in Capital
Sale of Stock [Line Items]
Shares withheld for taxes		$ 7,383		$ 5,321
Liability-Based Awards | Additional Paid in Capital
Sale of Stock [Line Items]
Stock-based compensation expense	$ 0				$ 1,225
RSU/PSU
Sale of Stock [Line Items]
Shares withheld for taxes (in shares)	0				263
Shares withheld for taxes	$ 0				$ 7,386
Employee Stock Purchase Plan | ESPP
Sale of Stock [Line Items]
Stock-based compensation expense	$ 33		$ 22		$ 67	$ 47

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net income attributable to Sterling common stockholders	$ 25,961	$ 20,056	$ 45,213	$ 30,611
Denominator:
Weighted average common shares outstanding - basic (in shares)	30,225	28,582	30,094	28,433
Shares for dilutive unvested stock and warrants (in shares)	137	472	135	445
Weighted average common shares outstanding - diluted (in shares)	30,362	29,054	30,229	28,878
Basic net income per share attributable to Sterling common stockholders (in dollars per share)	$ 0.86	$ 0.70	$ 1.50	$ 1.08
Diluted net income per share attributable to Sterling common stockholders (in dollars per share)	$ 0.86	$ 0.69	$ 1.50	$ 1.06

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Accounts receivable	$ (70,745)	$ (34,105)
Contracts in progress, net	(4,328)	26,008
Receivables from and equity in construction joint ventures	(14)	(1,358)
Other current and non-current assets	(1,245)	(8,448)
Accounts payable	18,480	38,308
Accrued compensation and other liabilities	5,711	3,936
Members' interest subject to mandatory redemption and undistributed earnings	(3,330)	3,703
Changes in operating assets and liabilities	$ (55,471)	$ 28,044

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			3
Revenues	$ 510,568	$ 401,666	$ 920,888	$ 716,982
Operating Income	41,090	32,720	69,359	55,475
Acquisition related costs	(230)	0	(485)	0
Operating Segments
Segment Reporting Information [Line Items]
Revenues	510,568	401,666	920,888	716,982
Operating Income	47,682	36,300	82,011	64,139
Corporate
Segment Reporting Information [Line Items]
Operating Income	(6,362)	(3,580)	(12,167)	(8,664)
E-Infrastructure Solutions Backlog | Operating Segments
Segment Reporting Information [Line Items]
Revenues	233,548	123,743	402,475	220,315
Operating Income	32,824	24,714	54,109	42,526
Transportation Solutions Revenues | Operating Segments
Segment Reporting Information [Line Items]
Revenues	191,381	203,153	351,880	350,207
Operating Income	5,107	4,796	8,793	7,462
Building Solutions Backlog - Commercial | Operating Segments
Segment Reporting Information [Line Items]
Revenues	85,639	74,770	166,533	146,460
Operating Income	$ 9,751	$ 6,790	$ 19,109	$ 14,151