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Revenues and Contract Balances
 9 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenues and Contract Balances Revenues and Contract Balances
Disaggregation of Revenues
The Company disaggregates revenues by contract type, customer type, prime vs. subcontractor, and whether the solution provided is primarily Expertise or Technology. These categories represent how the nature, amount, timing, and uncertainty of revenues and cash flows are affected.
Disaggregated revenues by contract type were as follows (in thousands):
Three Months Ended March 31, 2024Nine Months Ended March 31, 2024
DomesticInternationalTotalDomesticInternationalTotal
Cost-plus-fee$1,174,219 $— $1,174,219 $3,411,128 $— $3,411,128 
Fixed-price484,980 36,007 520,987 1,437,282 105,326 1,542,608 
Time-and-materials218,787 23,463 242,250 604,752 63,049 667,801 
Total$1,877,986 $59,470 $1,937,456 $5,453,162 $168,375 $5,621,537 
Three Months Ended March 31, 2023Nine Months Ended March 31, 2023
DomesticInternationalTotalDomesticInternationalTotal
Cost-plus-fee$1,008,688 $— $1,008,688 $2,896,778 $— $2,896,778 
Fixed-price494,095 35,691 529,786 1,420,858 100,057 1,520,915 
Time-and-materials191,696 14,100 205,796 540,913 40,839 581,752 
Total$1,694,479 $49,791 $1,744,270 $4,858,549 $140,896 $4,999,445 
Disaggregated revenues by customer type were as follows (in thousands):
Three Months Ended March 31, 2024Nine Months Ended March 31, 2024
DomesticInternationalTotalDomesticInternationalTotal
Department of Defense$1,452,264 $— $1,452,264 $4,163,079 $— $4,163,079 
Federal civilian agencies381,214 — 381,214 1,178,500 — 1,178,500 
Commercial and other44,508 59,470 103,978 111,583 168,375 279,958 
Total$1,877,986 $59,470 $1,937,456 $5,453,162 $168,375 $5,621,537 
Three Months Ended March 31, 2023Nine Months Ended March 31, 2023
DomesticInternationalTotalDomesticInternationalTotal
Department of Defense$1,298,700 $— $1,298,700 $3,554,080 $— $3,554,080 
Federal civilian agencies355,612 — 355,612 1,179,467 — 1,179,467 
Commercial and other40,167 49,791 89,958 125,002 140,896 265,898 
Total$1,694,479 $49,791 $1,744,270 $4,858,549 $140,896 $4,999,445 
Disaggregated revenues by prime vs. subcontractor were as follows (in thousands):
Three Months Ended March 31, 2024Nine Months Ended March 31, 2024
DomesticInternationalTotalDomesticInternationalTotal
Prime contractor$1,689,140 $52,637 $1,741,777 $4,878,820 $148,696 $5,027,516 
Subcontractor188,846 6,833 195,679 574,342 19,679 594,021 
Total$1,877,986 $59,470 $1,937,456 $5,453,162 $168,375 $5,621,537 
Three Months Ended March 31, 2023Nine Months Ended March 31, 2023
DomesticInternationalTotalDomesticInternationalTotal
Prime contractor$1,511,758 $44,975 $1,556,733 $4,339,579 $128,303 $4,467,882 
Subcontractor182,721 4,816 187,537 518,970 12,593 531,563 
Total$1,694,479 $49,791 $1,744,270 $4,858,549 $140,896 $4,999,445 
Disaggregated revenues by expertise or technology were as follows (in thousands):
Three Months Ended March 31, 2024Nine Months Ended March 31, 2024
DomesticInternationalTotalDomesticInternationalTotal
Expertise$895,791 $21,164 $916,955 $2,583,634 $60,956 $2,644,590 
Technology982,195 38,306 1,020,501 2,869,528 107,419 2,976,947 
Total$1,877,986 $59,470 $1,937,456 $5,453,162 $168,375 $5,621,537 
Three Months Ended March 31, 2023Nine Months Ended March 31, 2023
DomesticInternationalTotalDomesticInternationalTotal
Expertise$793,993 $18,307 $812,300 $2,237,146 $50,977 $2,288,123 
Technology900,486 31,484 931,970 2,621,403 89,919 2,711,322 
Total$1,694,479 $49,791 $1,744,270 $4,858,549 $140,896 $4,999,445 
Changes in Estimates
Aggregate net changes in estimates for the three and nine months ended March 31, 2024 reflected an increase to income before income taxes of $7.5 million ($0.25 per diluted share) and $24.5 million ($0.81 per diluted share), respectively, compared with $5.3 million ($0.17 per diluted share) and $16.8 million ($0.53 per diluted share), for the three and nine months ended March 31, 2023. The Company uses its statutory tax rate when calculating the impact to diluted earnings per share.
Revenues recognized from previously satisfied performance obligations were not material for the three and nine months ended March 31, 2024 and 2023, respectively. The change in revenues recognized from previously satisfied performance obligations generally relates to final true-up adjustments for estimated award or incentive fees in the period in which the customer’s final performance score was received or when it can be determined that more objective, contractually-defined criteria have been fully satisfied.
Remaining Performance Obligations
As of March 31, 2024, the Company had $9.7 billion of remaining performance obligations and expects to recognize approximately 46% and 67% as revenue over the next 12 and 24 months, respectively, with the remainder to be recognized thereafter.
Contract Balances
Contract balances consisted of the following (in thousands):
Description of Contract Related BalanceFinancial Statement ClassificationMarch 31, 2024June 30, 2023
Billed and billable receivablesAccounts receivable, net$838,927 $763,547 
Contract assets – current unbilled receivablesAccounts receivable, net174,750 131,399 
Contract assets – current costs to obtainPrepaid expenses and other current assets5,898 5,163 
Contract assets – noncurrent unbilled receivablesAccounts receivable, long-term12,557 11,857 
Contract assets – noncurrent costs to obtainOther long-term assets11,296 8,294 
Contract liabilities – current deferred revenue and other contract liabilitiesOther accrued expenses and current liabilities(134,355)(138,469)
Contract liabilities – noncurrent deferred revenue and other contract liabilitiesOther long-term liabilities(2,999)(5,522)
During the three and nine months ended March 31, 2024, we recognized $23.0 million and $117.4 million of revenues, respectively, compared with $10.8 million and $81.8 million of revenues for the three and nine months ended March 31, 2023, that was included in a previously recorded contract liability as of the beginning of the period.