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Revenues and Contract Balances
 3 Months Ended
Sep. 30, 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 September 30, 2024Three Months Ended September 30, 2023
DomesticInternationalTotalDomesticInternationalTotal
Cost-plus-fee$1,280,010 $— $1,280,010 $1,134,435 $— $1,134,435 
Fixed-price439,240 36,016 475,256 467,216 34,861 502,077 
Time-and-materials277,071 24,552 301,623 193,517 20,118 213,635 
Total$1,996,321 $60,568 $2,056,889 $1,795,168 $54,979 $1,850,147 
Disaggregated revenues by customer type were as follows (in thousands):
Three Months Ended September 30, 2024Three Months Ended September 30, 2023
DomesticInternationalTotalDomesticInternationalTotal
Department of Defense$1,534,533 $— $1,534,533 $1,352,306 $— $1,352,306 
Federal civilian agencies439,371 — 439,371 407,344 — 407,344 
Commercial and other22,417 60,568 82,985 35,518 54,979 90,497 
Total$1,996,321 $60,568 $2,056,889 $1,795,168 $54,979 $1,850,147 
Disaggregated revenues by prime vs. subcontractor were as follows (in thousands):
Three Months Ended September 30, 2024Three Months Ended September 30, 2023
DomesticInternationalTotalDomesticInternationalTotal
Prime contractor$1,826,763 $53,656 $1,880,419 $1,601,091 $48,271 $1,649,362 
Subcontractor169,558 6,912 176,470 194,077 6,708 200,785 
Total$1,996,321 $60,568 $2,056,889 $1,795,168 $54,979 $1,850,147 
Disaggregated revenues by expertise or technology were as follows (in thousands):
Three Months Ended September 30, 2024Three Months Ended September 30, 2023
DomesticInternationalTotalDomesticInternationalTotal
Expertise$956,496 $31,769 $988,265 $857,196 $20,898 $878,094 
Technology1,039,825 28,799 1,068,624 937,972 34,081 972,053 
Total$1,996,321 $60,568 $2,056,889 $1,795,168 $54,979 $1,850,147 
Changes in Estimates
Aggregate net changes in estimates for the three months ended September 30, 2024 reflected an increase to income before income taxes of $3.7 million ($0.12 per diluted share), compared with $2.4 million ($0.08 per diluted share), for the three months ended September 30, 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 months ended September 30, 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 September 30, 2024, the Company had $11.8 billion of remaining performance obligations and expects to recognize approximately 42% and 61% 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 ClassificationSeptember 30, 2024June 30, 2024
Billed and billable receivablesAccounts receivable, net$906,720 $885,552 
Contract assets – current unbilled receivablesAccounts receivable, net162,891 145,759 
Contract assets – current costs to obtainPrepaid expenses and other current assets6,505 6,142 
Contract assets – noncurrent unbilled receivablesAccounts receivable, long-term14,130 13,311 
Contract assets – noncurrent costs to obtainOther long-term assets14,327 12,310 
Contract liabilities – current deferred revenue and other contract liabilitiesOther accrued expenses and current liabilities(158,624)(139,745)
Contract liabilities – noncurrent deferred revenue and other contract liabilitiesOther long-term liabilities(4,624)(4,607)
During the three months ended September 30, 2024, we recognized $64.1 million of revenues, compared with $64.4 million of revenues for the three months ended September 30, 2023, that was included in a previously recorded contract liability as of the beginning of the period.