Revenue Accounting for Contracts

12 Months Ended

Oct. 02, 2020

Revenue from Contract with Customer [Abstract]

Revenue Accounting for Contracts

Revenue Accounting for Contracts

Disaggregation of Revenues

Our revenues are principally derived from contracts to provide a diverse range of technical, professional, and construction services to a large number of industrial, commercial, and governmental clients. We provide a broad range of engineering, design, and architectural services; construction and construction management services; operations and maintenance services; and process, scientific, and systems consulting services. We provide our services through offices and subsidiaries located primarily in North America, South America, Europe, the Middle East, India, Australia, Africa, and Asia. We provide our services under cost-reimbursable and fixed-price contracts. Our contracts are with many different customers in numerous industries. Refer to Note 19- Segment Information for additional information on how we disaggregate our revenues by reportable segment.

The following table further disaggregates our revenue by geographic area for the years ended October 2, 2020, September 27, 2019 and September 28, 2018 (in thousands):

	For the Years Ended
	October 2, 2020		September 27, 2019		September 28, 2018
Revenues:
United States	$	10,158,508	$	9,006,730	$	6,908,988
Europe	2,253,284		2,242,976		2,495,805
Canada	227,067		213,172		189,865
Asia	117,698		195,023		163,761
India	50,618		62,543		52,533
Australia and New Zealand	537,076		533,251		578,108
South America and Mexico	11		7,416		17,656
Middle East and Africa	222,713		476,757		173,057
Total	$	13,566,975	$	12,737,868	$	10,579,773

    The following table presents the revenues earned directly or indirectly from the U.S. federal government and its agencies, expressed as a percentage of total revenues:

For the Years Ended
October 2, 2020	September 27, 2019	September 28, 2018
33%	27%	32%

Contract Liabilities

Contract liabilities represent amounts billed to clients in excess of revenue recognized to date. Revenue recognized for the year ended October 2, 2020 that was included in the contract liability balance on September 27, 2019 was $410.0 million. Revenue recognized for the year ended September 27, 2019 that was included in the contract liability balance on September 28, 2018 was $350.3 million.

Remaining Performance Obligations     

The Company’s remaining performance obligations as of October 2, 2020 represent a measure of the total dollar value of work to be performed on contracts awarded and in progress. The Company had approximately $14.6 billion in remaining performance obligations as of October 2, 2020. The Company expects to recognize 50% of our remaining performance obligations within the next twelve months and the remaining 50% thereafter.

Although remaining performance obligations reflect business that is considered to be firm, cancellations, scope adjustments, foreign currency exchange fluctuations or project deferrals may occur that impact their volume or the expected timing of their recognition. Remaining performance obligations are adjusted to reflect any known project

cancellations, revisions to project scope and cost, foreign currency exchange fluctuations and project deferrals, as appropriate.