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

Disaggregation of Revenue

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

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Client Markets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy, environment, and infrastructure

 

$

156,661

 

 

 

40

%

 

$

147,188

 

 

 

41

%

 

$

488,018

 

 

 

42

%

 

$

445,592

 

 

 

42

%

Health, education, and social programs

 

 

182,334

 

 

 

46

%

 

 

158,297

 

 

 

44

%

 

 

508,255

 

 

 

44

%

 

 

461,808

 

 

 

43

%

Safety and security

 

 

28,304

 

 

 

7

%

 

 

30,539

 

 

 

8

%

 

 

89,120

 

 

 

7

%

 

 

90,944

 

 

 

8

%

Consumer and financial services

 

 

26,761

 

 

 

7

%

 

 

24,291

 

 

 

7

%

 

 

79,670

 

 

 

7

%

 

 

74,196

 

 

 

7

%

Total

 

$

394,060

 

 

 

100

%

 

$

360,315

 

 

 

100

%

 

$

1,165,063

 

 

 

100

%

 

$

1,072,540

 

 

 

100

%

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Client Type:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. federal government

 

$

195,107

 

 

 

49

%

 

$

175,126

 

 

 

49

%

 

$

553,232

 

 

 

48

%

 

$

501,525

 

 

 

47

%

U.S. state and local government

 

 

58,516

 

 

 

15

%

 

 

50,819

 

 

 

14

%

 

 

173,451

 

 

 

15

%

 

 

169,001

 

 

 

16

%

International government

 

 

32,249

 

 

 

8

%

 

 

20,194

 

 

 

5

%

 

 

107,175

 

 

 

9

%

 

 

60,861

 

 

 

5

%

Total Government

 

 

285,872

 

 

 

72

%

 

 

246,139

 

 

 

68

%

 

 

833,858

 

 

 

72

%

 

 

731,387

 

 

 

68

%

Commercial

 

 

108,188

 

 

 

28

%

 

 

114,176

 

 

 

32

%

 

 

331,205

 

 

 

28

%

 

 

341,153

 

 

 

32

%

Total

 

$

394,060

 

 

 

100

%

 

$

360,315

 

 

 

100

%

 

$

1,165,063

 

 

 

100

%

 

$

1,072,540

 

 

 

100

%

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

Contract Mix:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Time-and-materials

 

$

157,571

 

 

 

40

%

 

$

168,250

 

 

 

47

%

 

$

479,632

 

 

 

41

%

 

$

504,772

 

 

 

47

%

Fixed price

 

 

166,121

 

 

 

42

%

 

 

135,260

 

 

 

37

%

 

 

473,901

 

 

 

41

%

 

 

392,525

 

 

 

37

%

Cost-based

 

 

70,368

 

 

 

18

%

 

 

56,805

 

 

 

16

%

 

 

211,530

 

 

 

18

%

 

 

175,243

 

 

 

16

%

Total

 

$

394,060

 

 

 

100

%

 

$

360,315

 

 

 

100

%

 

$

1,165,063

 

 

 

100

%

 

$

1,072,540

 

 

 

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, 2021 and December 31, 2020:

 

 

September 30, 2021

 

 

December 31, 2020

 

 

$ Change

 

 

% Change

 

Contract assets

 

$

154,804

 

 

$

143,369

 

 

$

11,435

 

 

 

8.0

%

Contract liabilities

 

 

(38,108

)

 

 

(42,050

)

 

 

3,942

 

 

 

(9.4

%)

Net contract assets (liabilities)

 

$

116,696

 

 

$

101,319

 

 

$

15,377

 

 

 

15.2

%