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Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue

The Company disaggregates revenue from clients into categories that depict how the nature, amount, and uncertainty of revenue and cash flows are affected by economic and business factors. Those categories are client market, client type, and contract mix.

 

 

 

Three Months Ended March 31,

 

 

 

 

2024

 

 

2023

 

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Client Markets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy, environment, infrastructure, and disaster recovery

 

$

224,689

 

 

 

45

%

 

$

187,218

 

 

 

39

%

 

Health and social programs

 

 

190,148

 

 

 

39

%

 

 

202,782

 

 

 

42

%

 

Security and other civilian & commercial

 

 

79,599

 

 

 

16

%

 

 

93,282

 

 

 

19

%

 

Total

 

$

494,436

 

 

 

100

%

 

$

483,282

 

 

 

100

%

 

 

 

 

Three Months Ended March 31,

 

 

 

 

2024

 

 

2023

 

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Client Type:

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. federal government

 

$

274,177

 

 

 

55

%

 

$

267,742

 

 

 

55

%

 

U.S. state and local government

 

 

76,905

 

 

 

16

%

 

 

75,242

 

 

 

16

%

 

International government

 

 

25,276

 

 

 

5

%

 

 

20,684

 

 

 

4

%

 

Total Government

 

 

376,358

 

 

 

76

%

 

 

363,668

 

 

 

75

%

 

Commercial

 

 

118,078

 

 

 

24

%

 

 

119,614

 

 

 

25

%

 

Total

 

$

494,436

 

 

 

100

%

 

$

483,282

 

 

 

100

%

 

 

 

 

 

Three Months Ended March 31,

 

 

 

 

2024

 

 

2023

 

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Contract Mix:

 

 

 

 

 

 

 

 

 

 

 

 

 

Time-and-materials

 

$

206,160

 

 

 

42

%

 

$

201,203

 

 

 

42

%

 

Fixed-price

 

 

224,725

 

 

 

45

%

 

 

218,735

 

 

 

45

%

 

Cost-based

 

 

63,551

 

 

 

13

%

 

 

63,344

 

 

 

13

%

 

Total

 

$

494,436

 

 

 

100

%

 

$

483,282

 

 

 

100

%

 

Schedule of Contract Assets and Liabilities

The following table summarizes the contract assets and liabilities as of March 31, 2024 and December 31, 2023:

 

 

 

March 31, 2024

 

 

December 31, 2023

 

Contract assets

 

$

230,412

 

 

$

201,832

 

Contract liabilities

 

 

(22,099

)

 

 

(21,997

)

Net contract assets (liabilities)

 

$

208,313

 

 

$

179,835