Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2020

Revenue From Contract With Customer [Abstract]

Summary of Disaggregation of Revenue

The Company’s contracts contain both fixed-price and cost reimbursable components. Contract types are based on the component that represents the majority of the contract. The following table presents revenue disaggregated by contract type (in thousands):

	Three Months Ended
	March 31, 2020		March 31, 2019
Fixed-Price	$	308,308	$	257,695
Time-and-Materials		252,439		255,706
Cost-Plus		410,246		391,004
Total	$	970,993	$	904,405

Summary of Contract Assets and Contract Liabilities

Contract assets and contract liabilities balances at March 31, 2020 and December 31, 2019 were as follows (in thousands):

	March 31, 2020		December 31, 2019
Contract assets	$	626,513	$	575,089
Contract liabilities		241,178		230,681
Net contract assets (liabilities) (1)	$	385,335	$	344,408

(1) Total contract retentions included in net contract assets (liabilities) were $88.9 million as of March 31, 2020, of which $47.5 million are not expected to be paid in the next 12 months. Total contract retentions included in net contract assets (liabilities) were $85.5 million as of December 31,2019. Contract assets at March 31, 2020 and December 31, 2019 include $87.8 million and $73.0 million, respectively, related to unapproved change orders, claims, and requests for equitable adjustment. For the three months ended March 31, 2020 and March 31, 2019, there were no material losses recognized related to the collectability of claims, unapproved change orders, and requests for equitable adjustment.

Summary of Changes in Contract Assets and Contract Liabilities

The changes in contract assets and contract liabilities were the result of normal business activity and not significantly impacted by other factors, except as follows:

	March 31, 2020		December 31, 2019
Acquired contract assets	$	-	$	9,747
Acquired contract liabilities		-		1,300
Change in the estimate of variable consideration		-		12,166

Summary of Accounts Receivable, Net

Accounts receivable, net consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020			December 31, 2019
Billed	$	544,444		$	475,528
Unbilled		220,278			201,461
Total accounts receivable, gross		764,722			676,989
Allowance for doubtful accounts		(6,497	)		(5,497	)
Total accounts receivable, net	$	758,225		$	671,492

Summary of Remaining Unsatisfied Performance Obligations Expect to Satisfy

The Company expects to satisfy its RUPO as of March 31, 2020 over the following periods (in thousands):

Period RUPO Will Be Satisfied	Within One Year		Within One to Two Years		Thereafter
Federal Solutions	$	1,319,438	$	550,073	$	315,965
Critical Infrastructure		1,691,579		533,120		713,875
Total	$	3,011,017	$	1,083,193	$	1,029,840