Other Financial Information

12 Months Ended

Sep. 27, 2019

Other Financial Information [Abstract]

Receivables and contract assets

The following table presents the components of receivables appearing in the accompanying Consolidated Balance Sheets at September 27, 2019 and September 28, 2018 as well as certain other related information (in thousands):



	September 27, 2019		September 28, 2018
Components of receivables:
Amounts billed, net	$	1,222,339	$	1,107,250
Unbilled receivables and other	1,216,028		1,393,246
Contract assets	401,842		13,438
Total receivables and contract assets, net	$	2,840,209	$	2,513,934
Other information about receivables:
Amounts due from the United States federal government included above, net of advanced billings	$	630,975	$	472,846

Amounts billed, net consist of amounts invoiced to clients in accordance with the terms of the client contracts and are shown net of an allowance for doubtful accounts. We anticipate that substantially all of such billed amounts will be collected over the next twelve months.

Unbilled receivables and other, which represent an unconditional right to payment subject only to the passage of time, are reclassified to amounts billed when they are billed under the terms of the contract. Prior to adoption of ASC 606, receivables related to contractual milestones or achievement of performance-based targets were included in unbilled receivables. These are now included in contract assets. We anticipate that substantially all of such unbilled amounts will be billed and collected over the next twelve months.

Contract assets represent unbilled amounts where the right to payment is subject to more than merely the passage of time and includes performance-based incentives and services provided ahead of agreed contractual milestones. Contract assets are transferred to unbilled receivables when the right to consideration becomes unconditional and are transferred to amounts billed upon invoicing. The increase in contract assets was a result of the adoption of ASC 606 and was not materially impacted by any other factors.

Property, Equipment and Improvements, Net

The following table presents the components of our property, equipment and improvements, net at September 27, 2019 and September 28, 2018 (in thousands):



	September 27, 2019			September 28, 2018
Land	$	355		$	1,340
Buildings	14,331			12,867
Equipment	533,804			482,783
Leasehold improvements	247,660			198,287
Construction in progress	8,781			17,684
	804,931			712,961
Accumulated depreciation and amortization	(496,788		)	(455,102		)
	$	308,143		$	257,859

Miscellaneous Noncurrent Assets

The following table presents the components of “Miscellaneous noncurrent assets” shown in the accompanying Consolidated Balance Sheets at September 27, 2019 and September 28, 2018 (in thousands):



	September 27, 2019		September 28, 2018
Deferred income taxes	$	514,633	$	319,405
Deferred compensation arrangement investments	219,948		280,337
Equity Method Investments	157,919		150,052
Other	25,702		11,060
Total	$	918,202	$	760,854

Deferred compensation arrangement investments are comprised of the cash surrender value of life insurance policies and pooled-investment funds. The fair value of the pooled investment funds is derived using Level 2 inputs.

Accrued Liabilities

The following table presents the components of “Accrued liabilities” shown in the accompanying Consolidated Balance Sheets at September 27, 2019 and September 28, 2018 (in thousands):



	September 27, 2019		September 28, 2018
Accrued payroll and related liabilities	$	677,313	$	633,404
Project-related accruals	58,835		40,378
Non project-related accruals	258,312		295,463
Insurance liabilities	83,968		58,666
Sales and other similar taxes	34,390		58,728
Deferred rent	68,914		58,252
Dividends payable	23,439		22,111
Deferred gain on ECR disposition (1)	179,208		—
Total	$	1,384,379	$	1,167,002


(1)	See Note 7- Sale of Energy, Chemicals and Resource ("ECR") Business for discussion regarding deferred gain.

Other Deferred Liabilities

The following table presents the components of “Other deferred liabilities” shown in the accompanying Consolidated Balance Sheets at September 27, 2019 and September 28, 2018 (in thousands):



	September 27, 2019		September 28, 2018
Liabilities relating to defined benefit pension and early retirement plans	$	398,499	$	329,604
Liabilities relating to nonqualified deferred compensation arrangements	177,401		216,068
Deferred income taxes	233,111		152,613
Miscellaneous	609,994		562,692
Total	$	1,419,005	$	1,260,977