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Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2021
Revenue From Contract With Customer [Abstract]  
Disaggregation of Revenue

Disaggregation of Revenue

Changes in the three and six months ended June 30, 2021 compared to the three and six months ended June 30, 2020 were driven by an increase of revenue in the energy, environment, and infrastructure client market, primarily led by revenue from international government clients, an increase in the health, education, and social programs client market led by revenue from U.S. federal government and international government clients, and an increase in the consumer and financial services client market led by revenue from commercial clients. Revenue from safety and security client market saw a slight decrease in the three months ended June 30, 2021 compared to 2020, mainly from U.S. federal government clients, and a slight increase in the six months ended June 30, 2021 compared to 2020, mainly from international government clients.

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Client Markets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy, environment, and infrastructure

 

$

168,230

 

 

 

43

%

 

$

150,234

 

 

 

42

%

 

$

332,510

 

 

 

43

%

 

$

299,050

 

 

 

42

%

Health, education, and social programs

 

 

167,319

 

 

 

43

%

 

 

152,036

 

 

 

43

%

 

 

325,255

 

 

 

42

%

 

 

303,388

 

 

 

43

%

Safety and security

 

 

29,618

 

 

 

7

%

 

 

30,086

 

 

 

9

%

 

 

60,816

 

 

 

8

%

 

 

60,403

 

 

 

8

%

Consumer and financial services

 

 

27,358

 

 

 

7

%

 

 

21,631

 

 

 

6

%

 

 

52,422

 

 

 

7

%

 

 

49,384

 

 

 

7

%

Total

 

$

392,525

 

 

 

100

%

 

$

353,987

 

 

 

100

%

 

$

771,003

 

 

 

100

%

 

$

712,225

 

 

 

100

%

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Client Type:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. federal government

 

$

182,188

 

 

 

46

%

 

$

170,786

 

 

 

48

%

 

$

358,100

 

 

 

46

%

 

$

326,389

 

 

 

46

%

U.S. state and local government

 

 

58,058

 

 

 

15

%

 

 

57,388

 

 

 

16

%

 

 

114,961

 

 

 

15

%

 

 

118,280

 

 

 

16

%

International government

 

 

37,801

 

 

 

10

%

 

 

17,858

 

 

 

5

%

 

 

74,925

 

 

 

10

%

 

 

40,667

 

 

 

6

%

Total Government

 

 

278,047

 

 

 

71

%

 

 

246,032

 

 

 

69

%

 

 

547,986

 

 

 

71

%

 

 

485,336

 

 

 

68

%

Commercial

 

 

114,478

 

 

 

29

%

 

 

107,955

 

 

 

31

%

 

 

223,017

 

 

 

29

%

 

 

226,889

 

 

 

32

%

Total

 

$

392,525

 

 

 

100

%

 

$

353,987

 

 

 

100

%

 

$

771,003

 

 

 

100

%

 

$

712,225

 

 

 

100

%

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Contract Mix:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Time-and-materials

 

$

162,368

 

 

 

41

%

 

$

168,371

 

 

 

48

%

 

$

322,146

 

 

 

42

%

 

$

336,521

 

 

 

47

%

Fixed price

 

 

160,169

 

 

 

41

%

 

 

124,141

 

 

 

35

%

 

 

307,696

 

 

 

40

%

 

 

257,265

 

 

 

36

%

Cost-based

 

 

69,988

 

 

 

18

%

 

 

61,475

 

 

 

17

%

 

 

141,161

 

 

 

18

%

 

 

118,439

 

 

 

17

%

Total

 

$

392,525

 

 

 

100

%

 

$

353,987

 

 

 

100

%

 

$

771,003

 

 

 

100

%

 

$

712,225

 

 

 

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, 2021 and December 31, 2020:

 

 

June 30, 2021

 

 

December 31, 2020

 

 

$ Change

 

 

% Change

 

Contract assets

 

$

150,390

 

 

$

143,369

 

 

$

7,021

 

 

 

4.9

%

Contract liabilities

 

 

(35,700

)

 

 

(42,050

)

 

 

6,350

 

 

 

(15.1

%)

Net contract assets (liabilities)

 

$

114,690

 

 

$

101,319

 

 

$

13,371

 

 

 

13.2

%