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Segment Information
12 Months Ended
Sep. 26, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company's two operating segments are comprised of Infrastructure and Advanced Facilities ("I&AF"), and its majority investment in PA Consulting. Subsequent to the Separation Transaction, the SpinCo businesses are now presented as discontinued operations for all periods and therefore not reflected in the segment disclosures below. For further information, refer to Note 14- Discontinued Operations.
The Company’s Chief Executive Officer is the Chief Decision Maker (“CODM”) and evaluates the performance of and makes appropriate resource allocations to each of the segments. For purposes of the Company’s goodwill impairment testing, it has been determined that the Company’s operating segments are also its reporting units based on management’s conclusion that the components comprising each of its operating segments share similar economic characteristics and meet the aggregation criteria for reporting units in accordance with ASC 350, Intangibles-Goodwill and Other.
Financial information for each segment is reviewed by the CODM to assess performance and make decisions regarding the allocation of resources. The CODM evaluates the operating performance of our operating segments primarily using segment operating profit. The Company incurs certain SG&A that relate to its business as a whole which are not allocated to the segments. The CODM does not review segment assets as a measure of segment performance.
The following tables present total revenues, direct cost of contracts, selling, general and administrative expenses and segment operating profit from continuing operations for each reportable segment (in thousands) and include a reconciliation of segment operating profit to total U.S. GAAP operating profit by including certain corporate-level expenses, Restructuring and other charges (as defined in Note 16- Restructuring and Other Charges) and transaction and integration costs (in thousands) for the years ended:
September 26, 2025
Infrastructure & Advanced FacilitiesPA ConsultingTotal
Revenues from External Customers (1)
$10,764,206 $1,265,577 $12,029,783 
Direct cost of contracts (2)
(8,228,935)(815,914)(9,044,849)
Selling, general and administrative expenses (2)
(1,631,723)(171,164)(1,802,887)
Segment Operating Profit (1)
$903,548 $278,499 $1,182,047 
Restructuring, Transaction and Other Charges (3)
(162,896)
Amortization of Intangible Assets(155,517)
Total U.S. GAAP Operating Profit$863,634 
Total Other (Expense) Income, net (4)
(320,157)
Earnings from Continuing Operations Before Taxes$543,477 
(1)
I&AF revenue and operating profit for the year ended September 26, 2025 were impacted by a reserve in connection with an unfavorable interim ruling against a consolidated joint venture in which the Company holds a 50% interest (the "Consolidated JV Matter"), with the noncontrolling partner’s share included in noncontrolling interests in the Consolidated Statements of Earnings for the respective period.
(2)Direct cost of contracts and SG&A are considered to be significant segment expense categories as amounts align with, or are easily computable from, the segment-level information regularly provided to the CODM.
(3)
The year ended September 26, 2025 included $58.8 million in restructuring and other charges related to the Separation Transaction (primarily professional services and employee separation costs), as well as $75.3 million in charges for certain subsidiary level compensation based agreements. The year ended September 26, 2025 included approximately $26.0 million in charges associated with the Company's TSA with Amentum.
(4)
The year ended September 26, 2025 included $227.3 million in mark-to-market losses and other related charges associated with our investment in Amentum stock in connection with the Separation Transaction, as well as $40.5 million in income associated with the Company's TSA with Amentum (see Note 14- Discontinued Operations). The year ended September 26, 2025 included $20.5 million in discounts and expenses associated with the Equity-for-Debt Transaction (see Note 9- Borrowings and Note 14- Discontinued Operations).
September 27, 2024
Infrastructure & Advanced FacilitiesPA ConsultingTotal
Revenues from External Customers$10,323,255 $1,177,686 $11,500,941 
Direct cost of contracts (1)
(7,915,256)(752,929)(8,668,185)
Selling, general and administrative expenses (1)
(1,609,624)(185,507)(1,795,131)
Segment Operating Profit $798,375 $239,250 $1,037,625 
Restructuring, Transaction and Other Charges (2)
(192,522)
Amortization of Intangible Assets(152,667)
Total U.S. GAAP Operating Profit$692,436 
Total Other (Expense) Income, net (3)
84,850 
Earnings from Continuing Operations Before Taxes$777,286 
(1)
Direct cost of contracts and SG&A are considered to be significant segment expense categories as amounts align with, or are easily computable from, the segment-level information regularly provided to the CODM.
(2)
The year ended September 27, 2024 included $163.4 million in restructuring and other charges related to the Separation Transaction (primarily professional services and employee separation costs) and $6.4 million in restructuring and other charges related to the Company's investment in PA Consulting (primarily employee separation costs), as well as certain subsidiary level compensation based agreements.
(3)
The year ended September 27, 2024 included $186.9 million in mark-to-market gains associated with our investment in Amentum stock in connection with the Separation Transaction and a $35.2 million realized gain on interest rate swaps settled during the fourth quarter of fiscal 2024.

September 29, 2023
Infrastructure & Advanced FacilitiesPA ConsultingTotal
Revenues from External Customers$9,693,276 $1,158,144 $10,851,420 
Direct cost of contracts (1)
(7,395,838)(744,722)(8,140,560)
Selling, general and administrative expenses (1) (2)
(1,563,836)(176,419)(1,740,255)
Segment Operating Profit $733,602 $237,003 $970,605 
Restructuring, Transaction and Other Charges (3)
(146,891)
Amortization of Intangible Assets(147,230)
Total U.S. GAAP Operating Profit$676,484 
Total Other (Expense) Income, net
(155,509)
Earnings from Continuing Operations Before Taxes$520,975 
(1)
Direct cost of contracts and SG&A are considered to be significant segment expense categories as amounts align with, or are easily computable from, the segment-level information regularly provided to the CODM.
(2)
In fiscal 2023, I&AF SG&A included approximately $15.0 million in net favorable impacts from cost reductions compared to the prior year period, which were associated mainly with net favorable impacts during first quarter from changes in employee benefit programs of $41.0 million offset by approximately $26.0 million in higher spend in company technology platforms and other personnel and corporate cost increases.
(3)
The year ended September 29, 2023 included $61.1 million in restructuring and other charges related to the Separation Transaction (primarily professional services and employee separation costs) and $14.3 million, in restructuring and other charges related to the Company's investment in PA Consulting (primarily employee separation costs), as well as certain subsidiary level compensation based agreements. Additionally, in fiscal year 2023, there were $46.7 million in charges associated mainly with real estate impairments.