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Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 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 June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Client Markets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy, environment, infrastructure, and disaster recovery

 

$

232,655

 

 

 

45

%

 

$

203,834

 

 

 

41

%

 

$

457,260

 

 

 

45

%

 

$

391,027

 

 

 

40

%

Health and social programs

 

 

194,929

 

 

 

38

%

 

 

205,530

 

 

 

41

%

 

 

385,053

 

 

 

39

%

 

 

408,239

 

 

 

41

%

Security and other civilian & commercial

 

 

84,445

 

 

 

17

%

 

 

90,721

 

 

 

18

%

 

 

164,152

 

 

 

16

%

 

 

184,101

 

 

 

19

%

Total

 

$

512,029

 

 

 

100

%

 

$

500,085

 

 

 

100

%

 

$

1,006,465

 

 

 

100

%

 

$

983,367

 

 

 

100

%

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Client Type:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. federal government

 

$

273,471

 

 

 

53

%

 

$

273,060

 

 

 

55

%

 

$

547,666

 

 

 

54

%

 

$

540,802

 

 

 

55

%

U.S. state and local government

 

 

84,850

 

 

 

17

%

 

 

81,054

 

 

 

16

%

 

 

161,803

 

 

 

16

%

 

 

156,296

 

 

 

16

%

International government

 

 

28,696

 

 

 

6

%

 

 

26,212

 

 

 

5

%

 

 

53,959

 

 

 

6

%

 

 

46,831

 

 

 

5

%

Total Government

 

 

387,017

 

 

 

76

%

 

 

380,326

 

 

 

76

%

 

 

763,428

 

 

 

76

%

 

 

743,929

 

 

 

76

%

Commercial

 

 

125,012

 

 

 

24

%

 

 

119,759

 

 

 

24

%

 

 

243,037

 

 

 

24

%

 

 

239,438

 

 

 

24

%

Total

 

$

512,029

 

 

 

100

%

 

$

500,085

 

 

 

100

%

 

$

1,006,465

 

 

 

100

%

 

$

983,367

 

 

 

100

%

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Contract Mix:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Time-and-materials

 

$

217,587

 

 

 

42

%

 

$

208,171

 

 

 

42

%

 

$

423,680

 

 

 

42

%

 

$

409,290

 

 

 

42

%

Fixed-price

 

 

235,398

 

 

 

46

%

 

 

225,731

 

 

 

45

%

 

 

460,253

 

 

 

46

%

 

 

444,637

 

 

 

45

%

Cost-based

 

 

59,044

 

 

 

12

%

 

 

66,183

 

 

 

13

%

 

 

122,532

 

 

 

12

%

 

 

129,440

 

 

 

13

%

Total

 

$

512,029

 

 

 

100

%

 

$

500,085

 

 

 

100

%

 

$

1,006,465

 

 

 

100

%

 

$

983,367

 

 

 

100

%

Schedule of Contract Assets and Liabilities

The following table summarizes the contract assets and liabilities as of June 30, 2024 and December 31, 2023:

 

 

 

June 30, 2024

 

 

December 31, 2023

 

Contract assets

 

$

222,767

 

 

$

201,832

 

Contract liabilities

 

 

(20,102

)

 

 

(21,997

)

Net contract assets (liabilities)

 

$

202,665

 

 

$

179,835