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Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue

The Company's revenue by client markets, type, and contract mix are in the following tables. Certain immaterial revenue amounts in the prior years have been reclassified due to minor adjustments and reclassification.

 

Year ended December 31,

 

 

2023

 

 

2022

 

 

2021

 

Client Markets:

 

 

 

 

 

 

 

 

Energy, environment, infrastructure, and disaster recovery

$

806,482

 

 

$

714,628

 

 

$

693,572

 

Health and social programs

 

814,454

 

 

 

704,465

 

 

 

563,590

 

Security and other civilian & commercial

 

342,302

 

 

 

360,871

 

 

 

295,886

 

Total

$

1,963,238

 

 

$

1,779,964

 

 

$

1,553,048

 

 

 

Year ended December 31,

 

 

2023

 

 

2022

 

 

2021

 

Client Type:

 

 

 

 

 

 

 

 

U.S. federal government

$

1,084,043

 

 

$

980,746

 

 

$

735,032

 

U.S. state and local government

 

308,134

 

 

 

259,764

 

 

 

235,416

 

International government

 

103,399

 

 

 

103,609

 

 

 

139,229

 

Total Government

 

1,495,576

 

 

 

1,344,119

 

 

 

1,109,677

 

Commercial

 

467,662

 

 

 

435,845

 

 

 

443,371

 

Total

$

1,963,238

 

 

$

1,779,964

 

 

$

1,553,048

 

 

 

 

Year ended December 31,

 

 

2023

 

 

2022

 

 

2021

 

Contract Mix:

 

 

 

 

 

 

 

 

Time-and-materials

$

812,430

 

 

$

713,693

 

 

$

633,135

 

Fixed-price

 

885,465

 

 

 

802,568

 

 

 

645,809

 

Cost-based

 

265,343

 

 

 

263,703

 

 

 

274,104

 

Total

$

1,963,238

 

 

$

1,779,964

 

 

$

1,553,048

 

Schedule of Contract Assets and Liabilities and Changes in Contract Balances

Contract Assets and Liabilities:

Contract assets consist of unbilled receivables on contracts where revenue recognized exceeds the amount billed. Contract liabilities result from advance payments received on a contract or from billings in excess of revenue recognized on long-term contracts.

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

 

 

December 31, 2023

 

 

December 31, 2022

 

 

Change

 

Contract assets

$

201,832

 

 

$

169,088

 

 

$

32,744

 

Contract liabilities

 

(21,997

)

 

 

(25,773

)

 

 

3,776

 

Net contract assets (liabilities)

$

179,835

 

 

$

143,315

 

 

$

36,520

 

The net contract assets (liabilities) as of December 31, 2023 increased by $36.5 million as compared to December 31, 2022, primarily due to the timing difference between the performance of services and billings to and payments from customers. There were no material changes to contract balances due to impairments or credit losses during the period. During the years ended December 31, 2023 and 2022, the Company recognized $17.8 million and $27.4 million in revenue related to the contract liabilities balance at December 31, 2022 and 2021, respectively.

Unfulfilled