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Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Client Markets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy, environment, infrastructure, and disaster recovery

 

$

202,723

 

 

 

41

%

 

$

172,103

 

 

 

41

%

 

$

389,254

 

 

 

40

%

 

$

343,025

 

 

 

41

%

Health and social programs

 

 

207,224

 

 

 

41

%

 

 

159,165

 

 

 

37

%

 

 

411,463

 

 

 

42

%

 

 

314,964

 

 

 

38

%

Security and other civilian & commercial

 

 

90,138

 

 

 

18

%

 

 

91,842

 

 

 

22

%

 

 

182,650

 

 

 

18

%

 

 

178,589

 

 

 

21

%

Total

 

$

500,085

 

 

 

100

%

 

$

423,110

 

 

 

100

%

 

$

983,367

 

 

 

100

%

 

$

836,578

 

 

 

100

%

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Client Type:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. federal government

 

$

271,817

 

 

 

55

%

 

$

225,298

 

 

 

53

%

 

$

539,578

 

 

 

55

%

 

$

444,341

 

 

 

53

%

U.S. state and local government

 

 

81,206

 

 

 

16

%

 

 

63,704

 

 

 

15

%

 

 

156,236

 

 

 

16

%

 

 

129,768

 

 

 

15

%

International government

 

 

26,322

 

 

 

5

%

 

 

28,616

 

 

 

7

%

 

 

46,995

 

 

 

5

%

 

 

55,994

 

 

 

7

%

Total Government

 

 

379,345

 

 

 

76

%

 

 

317,618

 

 

 

75

%

 

 

742,809

 

 

 

76

%

 

 

630,103

 

 

 

75

%

Commercial

 

 

120,740

 

 

 

24

%

 

 

105,492

 

 

 

25

%

 

 

240,558

 

 

 

24

%

 

 

206,475

 

 

 

25

%

Total

 

$

500,085

 

 

 

100

%

 

$

423,110

 

 

 

100

%

 

$

983,367

 

 

 

100

%

 

$

836,578

 

 

 

100

%

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Contract Mix:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Time-and-materials

 

$

208,417

 

 

 

42

%

 

$

169,923

 

 

 

40

%

 

$

409,368

 

 

 

42

%

 

$

334,890

 

 

 

40

%

Fixed-price

 

 

225,396

 

 

 

45

%

 

 

185,902

 

 

 

44

%

 

 

444,383

 

 

 

45

%

 

 

369,915

 

 

 

44

%

Cost-based

 

 

66,272

 

 

 

13

%

 

 

67,285

 

 

 

16

%

 

 

129,616

 

 

 

13

%

 

 

131,773

 

 

 

16

%

Total

 

$

500,085

 

 

 

100

%

 

$

423,110

 

 

 

100

%

 

$

983,367

 

 

 

100

%

 

$

836,578

 

 

 

100

%

 

Schedule of Contract Balances and Changes in Contract Balances

Contract Balances:

Contract assets consist primarily of unbilled amounts resulting from long-term contracts when revenue recognized exceeds the amount billed often due to billing schedule timing. Contract liabilities result from advance payments received on a contract or from billings in excess of revenue recognized on long-term contracts due to billing schedule timing.

The following table summarizes the contract balances as of June 30, 2023 and December 31, 2022:

 

 

 

June 30, 2023

 

 

December 31, 2022

 

Contract assets

 

$

200,202

 

 

$

169,088

 

Contract liabilities

 

 

(19,647

)

 

 

(25,773

)

Net contract assets (liabilities)

 

$

180,555

 

 

$

143,315