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Revenue
12 Months Ended
Mar. 31, 2020
Revenue from Contract with Customer [Abstract]  
Revenue
Revenue

We disaggregate our revenue from contracts with customers by contract-type, whether the Company performs on the contract as the prime contractor or subcontractor, and customer-type for each of our segments, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.

Revenue by contract type was as follows:
 
 
Fiscal Year Ended March 31, 2020
 
Fiscal Year Ended March 31, 2019
(in millions)
 
Defense and
Intelligence
 
Civilian and
Health Care
 
Total
 
Defense and
Intelligence
 
Civilian and
Health Care
 
Total
Cost-reimbursable
 
$
1,100

 
$
107

 
$
1,207

 
$
830

 
$
90

 
$
920

Fixed-price
 
1,602

 
837

 
2,439

 
1,365

 
916

 
2,281

Time-and-materials
 
399

 
459

 
858

 
392

 
437

 
829

Total
 
$
3,101

 
$
1,403

 
$
4,504

 
$
2,587

 
$
1,443

 
$
4,030

Revenue by prime or subcontractor was as follows:
 
 
Fiscal Year Ended March 31, 2020
 
Fiscal Year Ended March 31, 2019
(in millions)
 
Defense and
Intelligence
 
Civilian and
Health Care
 
Total
 
Defense and
Intelligence
 
Civilian and
Health Care
 
Total
Prime contractor
 
$
2,915

 
$
1,300

 
$
4,215

 
$
2,431

 
$
1,343

 
$
3,774

Subcontractor
 
186

 
103

 
289

 
156

 
100

 
256

Total
 
$
3,101

 
$
1,403

 
$
4,504

 
$
2,587

 
$
1,443

 
$
4,030


Revenue by customer type was as follows:
 
 
Fiscal Year Ended March 31, 2020
 
Fiscal Year Ended March 31, 2019
(in millions)
 
Defense and
Intelligence
 
Civilian and
Health Care
 
Total
 
Defense and
Intelligence
 
Civilian and
Health Care
 
Total
U.S. federal government, including independent agencies
 
$
3,084

 
$
1,141

 
$
4,225

 
$
2,574

 
$
1,185

 
$
3,759

Non-federal (state, local and other)
 
17

 
262

 
279

 
13

 
258

 
271

Total
 
$
3,101

 
$
1,403

 
$
4,504

 
$
2,587

 
$
1,443

 
$
4,030



Performance Obligations

As of March 31, 2020, approximately $3.84 billion of revenue is expected to be recognized from remaining unsatisfied performance obligations on executed contracts. The Company expects to recognize approximately 79% of these remaining performance obligations as revenue within one year and approximately 89% within two years, with the remainder recognized thereafter.

Contract Balances

Contract assets and contract liabilities consisted of the following:
(in millions)
 
Balance Sheets Line Item
 
March 31, 2020
 
March 31, 2019
Contract assets:
 
 
 
 
 
 
Unbilled receivables
 
Receivables, net
 
$
341

 
$
301

Contract liabilities:
 
 
 
 
 
 
Current portion of deferred revenue and advance contract payments
 
Other current liabilities
 
$
25

 
$
33

Non-current portion of deferred revenue and advance contract payments
 
Other long-term liabilities
 
2

 
12



Contract assets increased $40 million during the fiscal year ended March 31, 2020, primarily due to the timing of billings and the acquisition of Knight Point. Contract assets were net of $12 million and $31 million of advance contract payments as of March 31, 2020 and 2019, respectively. There were no significant impairment losses related to the Company’s contract assets during the fiscal year ended March 31, 2020.
Contract liabilities decreased $18 million during the fiscal year ended March 31, 2020, primarily due to revenue recognized in excess of payments received. During the fiscal year ended March 31, 2020, the Company recognized $32 million of the deferred revenue and advance contract payments at March 31, 2019 as revenue. During the fiscal year ended March 31, 2019, the Company recognized $25 million of the deferred revenue and advance contract payments at April 1, 2018 as revenue.