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Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2022
Revenue From Contract With Customer [Abstract]  
Disaggregation of Revenue

Disaggregation of Revenue

  

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

Percent

 

Client Markets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy, environment, and infrastructure

 

$

160,401

 

 

 

38

%

 

$

167,309

 

 

 

43

%

 

$

316,444

 

 

 

38

%

 

$

330,533

 

 

43

%

Health, education, and social programs

 

 

208,953

 

 

 

49

%

 

 

167,640

 

 

 

43

%

 

 

414,750

 

 

 

50

%

 

 

325,906

 

 

42

%

Safety and security

 

 

33,409

 

 

 

8

%

 

 

29,618

 

 

 

7

%

 

 

62,809

 

 

 

7

%

 

 

60,816

 

 

8

%

Consumer and financial

 

 

20,347

 

 

 

5

%

 

 

27,958

 

 

 

7

%

 

 

42,575

 

 

 

5

%

 

 

53,748

 

 

7

%

Total

 

$

423,110

 

 

 

100

%

 

$

392,525

 

 

 

100

%

 

$

836,578

 

 

 

100

%

 

$

771,003

 

 

100

%

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

Percent

 

Client Type:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. federal government

 

$

225,229

 

 

 

53

%

 

$

182,241

 

 

 

46

%

 

$

444,221

 

 

 

53

%

 

$

358,225

 

 

46

%

U.S. state and local government

 

 

64,056

 

 

 

15

%

 

 

58,487

 

 

 

15

%

 

 

130,165

 

 

 

16

%

 

 

115,637

 

 

15

%

International government

 

 

27,144

 

 

 

7

%

 

 

37,148

 

 

 

10

%

 

 

53,863

 

 

 

6

%

 

 

73,894

 

 

10

%

Total Government

 

 

316,429

 

 

 

75

%

 

 

277,876

 

 

 

71

%

 

 

628,249

 

 

 

75

%

 

 

547,756

 

 

71

%

Commercial

 

 

106,681

 

 

 

25

%

 

 

114,649

 

 

 

29

%

 

 

208,329

 

 

 

25

%

 

 

223,247

 

 

29

%

Total

 

$

423,110

 

 

 

100

%

 

$

392,525

 

 

 

100

%

 

$

836,578

 

 

 

100

%

 

$

771,003

 

 

100

%

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

Percent

 

Contract Mix:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Time-and-materials

 

$

169,980

 

 

 

40

%

 

$

162,249

 

 

 

41

%

 

$

334,821

 

 

 

40

%

 

$

322,085

 

 

42

%

Fixed price

 

 

185,823

 

 

 

44

%

 

 

160,288

 

 

 

41

%

 

 

369,962

 

 

 

44

%

 

 

307,757

 

 

40

%

Cost-based

 

 

67,307

 

 

 

16

%

 

 

69,988

 

 

 

18

%

 

 

131,795

 

 

 

16

%

 

 

141,161

 

 

18

%

Total

 

$

423,110

 

 

 

100

%

 

$

392,525

 

 

 

100

%

 

$

836,578

 

 

 

100

%

 

$

771,003

 

 

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, 2022 and December 31, 2021:

 

 

June 30, 2022

 

 

December 31, 2021

 

 

$ Change

 

 

% Change

 

Contract assets

 

$

190,506

 

 

$

137,867

 

 

$

52,639

 

 

 

38.2

%

Contract liabilities

 

 

(24,612

)

 

 

(39,665

)

 

 

15,053

 

 

 

(38.0

%)

Net contract assets (liabilities)

 

$

165,894

 

 

$

98,202

 

 

$

67,692

 

 

 

68.9

%