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Revenues | 12 Months Ended
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Jan. 03, 2025
Revenue from Contract with Customer [Abstract] |
Revenues | Note 4—Revenues REMAINING PERFORMANCE OBLIGATIONS Remaining performance obligations (“RPO”) represent the expected value of exercised contracts, both funded and unfunded, less revenue recognized to date. RPO does not include unexercised option periods and future potential task orders expected to be awarded under IDIQ contracts, General Services Administration Schedule or other master agreement contract vehicles, with the exception of certain IDIQ contracts where task orders are not competitively awarded and separately priced but instead are used as a funding mechanism, and where there is a basis for estimating future revenues and funding on future anticipated task orders. As of January 3, 2025, we had $16.3 billion of RPO and expect to recognize approximately 65% and 82% over the next 12 months and 24 months, respectively, with the remaining to be recognized thereafter. DISAGGREGATION OF REVENUES We disaggregate revenues by customer-type, contract-type and geographic location for each of our reportable segments. These categories represent how the nature, timing and uncertainty of revenues and cash flows are affected. Disaggregated revenues by customer-type were as follows:
| Year Ended January 3, 2025
(in millions) | National Security & Digital |  | Health & Civil |  | Commercial & International |  | Defense Systems |  | Total
DoD and U.S. Intelligence Community | $ | 5,074 |  |  | $ | 1,032 |  |  | $ | 44 |  |  | $ | 1,812 |  |  | $ | 7,962 |
Other U.S. government agencies(1) | 2,115 |  |  | 3,899 |  |  | 379 |  |  | 95 |  |  | 6,488 |
Commercial and non-U.S. customers | 115 |  |  | 63 |  |  | 1,825 |  |  | 123 |  |  | 2,126 |
Total | $ | 7,304 |  |  | $ | 4,994 |  |  | $ | 2,248 |  |  | $ | 2,030 |  |  | $ | 16,576 |
| Year Ended December 29, 2023
(in millions) | National Security & Digital |  | Health & Civil |  | Commercial & International |  | Defense Systems |  | Total
DoD and U.S. Intelligence Community | $ | 4,799 |  |  | $ | 1,059 |  |  | $ | 35 |  |  | $ | 1,684 |  |  | $ | 7,577 |
Other U.S. government agencies(1) | 2,212 |  |  | 3,082 |  |  | 319 |  |  | 121 |  |  | 5,734 |
Commercial and non-U.S. customers | 131 |  |  | 61 |  |  | 1,762 |  |  | 74 |  |  | 2,028 |
Total | $ | 7,142 |  |  | $ | 4,202 |  |  | $ | 2,116 |  |  | $ | 1,879 |  |  | $ | 15,339 |
| Year Ended December 30, 2022
(in millions) | National Security & Digital |  | Health & Civil |  | Commercial & International |  | Defense Systems |  | Total
DoD and U.S. Intelligence Community | $ | 4,502 |  |  | $ | 1,047 |  |  | $ | 31 |  |  | $ | 1,530 |  |  | $ | 7,110 |
Other U.S. government agencies(1) | 2,034 |  |  | 2,803 |  |  | 281 |  |  | 122 |  |  | 5,240 |
Commercial and non-U.S. customers | 165 |  |  | 63 |  |  | 1,554 |  |  | 155 |  |  | 1,937 |
Total | $ | 6,701 |  |  | $ | 3,913 |  |  | $ | 1,866 |  |  | $ | 1,807 |  |  | $ | 14,287 |
(1)Includes federal government agencies other than the DoD and U.S. Intelligence Community, as well as state and local government agencies. The majority of our revenues are generated from U.S. government contracts, either as a prime contractor or as a subcontractor to other contractors. Revenues from the U.S. government can be adversely impacted by spending caps or changes in budgetary priorities of the U.S. government, as well as delays in program start dates or the award of a contract. Disaggregated revenues by contract-type were as follows:
| Year Ended January 3, 2025
(in millions) | National Security & Digital |  | Health & Civil |  | Commercial & International |  | Defense Systems |  | Total
Cost-reimbursement and fixed-price-incentive-fee | $ | 3,870 |  |  | $ | 1,787 |  |  | $ | 358 |  |  | $ | 1,290 |  |  | $ | 7,305 |
Firm-fixed-price | 2,023 |  |  | 2,990 |  |  | 1,454 |  |  | 587 |  |  | 7,054 |
Time-and-materials and fixed-price-level-of-effort | 1,411 |  |  | 217 |  |  | 436 |  |  | 153 |  |  | 2,217 |
Total | $ | 7,304 |  |  | $ | 4,994 |  |  | $ | 2,248 |  |  | $ | 2,030 |  |  | $ | 16,576 |
| Year Ended December 29, 2023
(in millions) | National Security & Digital |  | Health & Civil |  | Commercial & International |  | Defense Systems |  | Total
Cost-reimbursement and fixed-price-incentive-fee | $ | 3,808 |  |  | $ | 2,015 |  |  | $ | 345 |  |  | $ | 1,173 |  |  | $ | 7,341 |
Firm-fixed-price | 2,040 |  |  | 2,006 |  |  | 1,351 |  |  | 567 |  |  | 5,964 |
Time-and-materials and fixed-price-level-of-effort | 1,294 |  |  | 181 |  |  | 420 |  |  | 139 |  |  | 2,034 |
Total | $ | 7,142 |  |  | $ | 4,202 |  |  | $ | 2,116 |  |  | $ | 1,879 |  |  | $ | 15,339 |
| Year Ended December 30, 2022
(in millions) | National Security & Digital |  | Health & Civil |  | Commercial & International |  | Defense Systems |  | Total
Cost-reimbursement and fixed-price-incentive-fee | $ | 3,618 |  |  | $ | 2,047 |  |  | $ | 306 |  |  | $ | 1,142 |  |  | $ | 7,113 |
Firm-fixed-price | 2,031 |  |  | 1,700 |  |  | 1,181 |  |  | 490 |  |  | 5,402 |
Time-and-materials and fixed-price-level-of-effort | 1,052 |  |  | 166 |  |  | 379 |  |  | 175 |  |  | 1,772 |
Total | $ | 6,701 |  |  | $ | 3,913 |  |  | $ | 1,866 |  |  | $ | 1,807 |  |  | $ | 14,287 |
Cost-reimbursement and FPIF contracts are generally lower risk and have lower profits. T&M and FPLOE contracts are also lower risk, but profits may vary depending on actual labor costs compared to negotiated contract billing rates. FFP contracts offer the potential for higher profits while increasing the exposure to risk of cost overruns. Disaggregated revenues by geographic location were as follows:
| Year Ended January 3, 2025
(in millions) | National Security & Digital |  | Health & Civil |  | Commercial & International |  | Defense Systems |  | Total
United States | $ | 7,274 |  |  | $ | 4,989 |  |  | $ | 961 |  |  | $ | 1,982 |  |  | $ | 15,206 |
International | 30 |  |  | 5 |  |  | 1,287 |  |  | 48 |  |  | 1,370 |
Total | $ | 7,304 |  |  | $ | 4,994 |  |  | $ | 2,248 |  |  | $ | 2,030 |  |  | $ | 16,576 |
| Year Ended December 29, 2023
(in millions) | National Security & Digital |  | Health & Civil |  | Commercial & International |  | Defense Systems |  | Total
United States | $ | 7,105 |  |  | $ | 4,197 |  |  | $ | 852 |  |  | $ | 1,861 |  |  | $ | 14,015 |
International | 37 |  |  | 5 |  |  | 1,264 |  |  | 18 |  |  | 1,324 |
Total | $ | 7,142 |  |  | $ | 4,202 |  |  | $ | 2,116 |  |  | $ | 1,879 |  |  | $ | 15,339 |
| Year Ended December 30, 2022
(in millions) | National Security & Digital |  | Health & Civil |  | Commercial & International |  | Defense Systems |  | Total
United States | $ | 6,661 |  |  | $ | 3,911 |  |  | $ | 760 |  |  | $ | 1,766 |  |  | $ | 13,098 |
International | 40 |  |  | 2 |  |  | 1,106 |  |  | 41 |  |  | 1,189 |
Total | $ | 6,701 |  |  | $ | 3,913 |  |  | $ | 1,866 |  |  | $ | 1,807 |  |  | $ | 14,287 |
Our international business operations, primarily located in Australia and the UK, are subject to additional and different risks than our U.S. business. Failure to comply with U.S. government laws and regulations applicable to international business, such as the Foreign Corrupt Practices Act or U.S. export control regulations, could have an adverse impact on our business with the U.S. government. In some countries, there is an increased chance for economic, legal or political changes that may adversely affect the performance of our services, sales of products or repatriation of profits. International transactions can also involve increased financial and legal risks arising from foreign exchange variability, imposition of tariffs or additional taxes and restrictive trade policies and delays or failure to collect amounts due to differing legal systems. Revenues by contract-type, customer-type and geographic location exclude lease income of $86 million, $99 million and $109 million for fiscal 2024, 2023 and 2022, respectively (see “Note 10—Leases”). CONTRACT ASSETS AND LIABILITIES Performance obligations are satisfied either over time as work progresses or at a point in time. Firm-fixed-price contracts are typically billed to the customer using milestone payments while cost-reimbursable and time and materials contracts are typically billed to the customer on a monthly or bi-weekly basis as indicated by the negotiated billing terms and conditions of the contract. As a result, the timing of revenue recognition, customer billings and cash collections for each contract results in a net contract asset or liability at the end of each reporting period. Contract assets consist of unbilled receivables, which is the amount of revenue recognized that exceeds the amount billed to the customer. Unbilled receivables exclude amounts billable where the right to consideration is solely subject to the passage of time. Contract liabilities consist of deferred revenue, which represents cash advances received prior to performance for programs and billings in excess of revenue recognized. The components of contract assets and contract liabilities consisted of the following:
(in millions) |  | Balance sheet line item |  | January 3, 2025 |  | December 29, 2023
Contract assets - current: |  |  |  |  |  |
Unbilled receivables |  | Receivables, net |  | $ | 842 |  |  | $ | 1,041 |
Contract liabilities - current: |  |  |  |  |  |
Deferred revenue(1) |  | Accounts payable and accrued liabilities |  | $ | 333 |  |  | $ | 442 |
Contract liabilities - non-current: |  |  |  |  |  |
Deferred revenue(1) |  | Other long-term liabilities |  | $ | 10 |  |  | $ | 21 |
(1)Certain contracts record revenue on a net contract basis, and therefore, the respective deferred revenue balance will not fully convert to revenue. The decrease in unbilled receivables was primarily due to the timing of billings, partially offset by revenue recognized on certain contracts during the period. The decrease in deferred revenue was primarily due to the timing of advanced payments and revenue recognized during the period. Revenue recognized during fiscal 2024 and 2023 of $278 million and $232 million, respectively, was included as a contract liability at December 29, 2023, and December 30, 2022, respectively. There were no impairment losses recognized on contract assets during fiscal 2024, 2023 and 2022.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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