Revenue and Contract Balances (Tables)

9 Months Ended

Jun. 29, 2025

The following tables present our revenue disaggregated by client sector and contract type (in thousands):


	Three Months Ended				Nine Months Ended
	June 29, 2025		June 30, 2024		June 29, 2025		June 30, 2024

Client Sector:
U.S. federal government (1)	$	452,629	$	432,242	$	1,367,899	$	1,221,320
U.S. state and local government	189,181		146,401		599,606		444,877
U.S. commercial	221,351		241,838		666,027		665,675
International (2)	506,655		523,842		1,478,958		1,492,333
Total	$	1,369,816	$	1,344,323	$	4,112,490	$	3,824,205

Contract Type:
Fixed-price	$	633,508	$	548,452	$	1,678,280	$	1,478,915
Time-and-materials	595,082		589,301		1,799,288		1,730,796
Cost-plus	141,226		206,570		634,922		614,494
Total	$	1,369,816	$	1,344,323	$	4,112,490	$	3,824,205

(1) Includes revenue generated under U.S. federal government contracts performed outside the United States.

(2) Includes revenue generated from non-U.S. clients, primarily in United Kingdom, Australia and Canada.

Net contract assets/liabilities consisted of the following (in thousands):


	As of
	June 29, 2025		September 29, 2024

Contract assets (1)	$	142,852	$	129,678
Contract liabilities - current	(389,856)		(351,738)
Contract liabilities - non-current (2)	(6,687)		—
Net contract liabilities	$	(253,691)	$	(222,060)

(1) Includes $11.7 million and $7.9 million of contract retentions at June 29, 2025 and September 29, 2024, respectively.

(2) Reported under "Other non-current liabilities" on our consolidated balance sheet as of June 29, 2025.

Net accounts receivable consisted of the following (in thousands):


	As of
	June 29, 2025		September 29, 2024

Billed	$	795,947	$	707,406
Unbilled	338,861		348,907
Total accounts receivable	1,134,808		1,056,313
Allowance for doubtful accounts	(7,289)		(4,852)
Total accounts receivable, net	$	1,127,519	$	1,051,461

We expect to satisfy our RUPO at June 29, 2025 over the following periods (in thousands):