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Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 2022
Revenue From Contract With Customer [Abstract]  
Disaggregation of Revenue

Disaggregation of Revenue

Changes in the three months ended March 31, 2022 compared to the three months ended March 31, 2021 were driven primarily by an increase of $39.4 million and $6.2 million from U.S. federal government’s health, education, and social programs and energy, environment, and infrastructure client markets, respectively, $7.4 million and $0.5 million from U.S. state and local government’s health, education, and social programs and energy, environment, and infrastructure client markets, respectively, and $1.7 million from international government’s health, education, and social programs client market, offset by decreases of $11.1 million and $0.6 million from international government’s energy, environment, and infrastructure and safety and security client markets, respectively, $3.5 million, $2.6 million, and $1.2 million from commercial consumer and financial, energy, environment, and infrastructure, and health, education, and social programs client markets, respectively, and $1.2 million from U.S. federal government safety and security client market.

 

 

Three Months Ended March 31,

 

 

 

 

2022

 

 

2021

 

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Client Markets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy, environment, and infrastructure

 

$

156,644

 

 

 

38

%

 

$

163,582

 

 

 

43

%

 

Health, education, and social programs

 

 

205,532

 

 

 

50

%

 

 

158,268

 

 

 

42

%

 

Safety and security

 

 

29,400

 

 

 

7

%

 

 

31,198

 

 

 

8

%

 

Consumer and financial

 

 

21,892

 

 

 

5

%

 

 

25,430

 

 

 

7

%

 

Total

 

$

413,468

 

 

 

100

%

 

$

378,478

 

 

 

100

%

 

 

 

 

 

Three Months Ended March 31,

 

 

 

 

2022

 

 

2021

 

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Client Type:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. federal government

 

$

220,343

 

 

 

53

%

 

$

175,985

 

 

 

46

%

 

U.S. state and local government

 

 

64,833

 

 

 

16

%

 

 

56,878

 

 

 

15

%

 

International government

 

 

26,720

 

 

 

6

%

 

 

36,746

 

 

 

10

%

 

Total Government

 

 

311,896

 

 

 

75

%

 

 

269,609

 

 

 

71

%

 

Commercial

 

 

101,572

 

 

 

25

%

 

 

108,869

 

 

 

29

%

 

Total

 

$

413,468

 

 

 

100

%

 

$

378,478

 

 

 

100

%

 

 

 

 

Three Months Ended March 31,

 

 

 

 

2022

 

 

2021

 

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Contract Mix:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Time-and-materials

 

$

165,084

 

 

 

40

%

 

$

159,836

 

 

 

42

%

 

Fixed price

 

 

183,896

 

 

 

44

%

 

 

147,469

 

 

 

39

%

 

Cost-based

 

 

64,488

 

 

 

16

%

 

 

71,173

 

 

 

19

%

 

Total

 

$

413,468

 

 

 

100

%

 

$

378,478

 

 

 

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 March 31, 2022 and December 31, 2021:

 

 

March 31, 2022

 

 

December 31, 2021

 

 

$ Change

 

 

% Change

 

Contract assets

 

$

189,147

 

 

$

137,867

 

 

$

51,280

 

 

 

37.2

%

Contract liabilities

 

 

(31,491

)

 

 

(39,665

)

 

 

8,174

 

 

 

(20.6

%)

Net contract assets (liabilities)

 

$

157,656

 

 

$

98,202

 

 

$

59,454

 

 

 

60.5

%