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

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Client Markets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy, environment, infrastructure, and disaster recovery

 

$

204,802

 

 

 

41

%

 

$

179,002

 

 

 

38

%

 

$

596,089

 

 

 

40

%

 

$

522,698

 

 

 

40

%

Health and social programs

 

 

210,501

 

 

 

42

%

 

 

197,225

 

 

 

42

%

 

 

620,198

 

 

 

42

%

 

 

511,312

 

 

 

39

%

Security and other civilian & commercial

 

 

86,216

 

 

 

17

%

 

 

91,550

 

 

 

20

%

 

 

268,599

 

 

 

18

%

 

 

270,345

 

 

 

21

%

Total

 

$

501,519

 

 

 

100

%

 

$

467,777

 

 

 

100

%

 

$

1,484,886

 

 

 

100

%

 

$

1,304,355

 

 

 

100

%

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Client Type:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. federal government

 

$

279,314

 

 

 

56

%

 

$

271,609

 

 

 

58

%

 

$

820,116

 

 

 

55

%

 

$

715,986

 

 

 

55

%

U.S. state and local government

 

 

76,393

 

 

 

15

%

 

 

64,910

 

 

 

14

%

 

 

232,274

 

 

 

16

%

 

 

194,778

 

 

 

15

%

International government

 

 

27,623

 

 

 

5

%

 

 

23,046

 

 

 

5

%

 

 

74,598

 

 

 

5

%

 

 

79,060

 

 

 

6

%

Total Government

 

 

383,330

 

 

 

76

%

 

 

359,565

 

 

 

77

%

 

 

1,126,988

 

 

 

76

%

 

 

989,824

 

 

 

76

%

Commercial

 

 

118,189

 

 

 

24

%

 

 

108,212

 

 

 

23

%

 

 

357,898

 

 

 

24

%

 

 

314,531

 

 

 

24

%

Total

 

$

501,519

 

 

 

100

%

 

$

467,777

 

 

 

100

%

 

$

1,484,886

 

 

 

100

%

 

$

1,304,355

 

 

 

100

%

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Contract Mix:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Time-and-materials

 

$

206,646

 

 

 

41

%

 

$

188,772

 

 

 

40

%

 

$

615,859

 

 

 

41

%

 

$

523,661

 

 

 

40

%

Fixed-price

 

 

223,173

 

 

 

45

%

 

 

210,919

 

 

 

45

%

 

 

667,711

 

 

 

45

%

 

 

580,836

 

 

 

45

%

Cost-based

 

 

71,700

 

 

 

14

%

 

 

68,086

 

 

 

15

%

 

 

201,316

 

 

 

14

%

 

 

199,858

 

 

 

15

%

Total

 

$

501,519

 

 

 

100

%

 

$

467,777

 

 

 

100

%

 

$

1,484,886

 

 

 

100

%

 

$

1,304,355

 

 

 

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 September 30, 2023 and December 31, 2022:

 

 

 

September 30, 2023

 

 

December 31, 2022

 

Contract assets

 

$

209,267

 

 

$

169,088

 

Contract liabilities

 

 

(16,989

)

 

 

(25,773

)

Net contract assets (liabilities)

 

$

192,278

 

 

$

143,315