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Revenue Accounting for Contracts and Adoption of ASC Topic 606 (Tables)

9 Months Ended

Jun. 28, 2019

Revenue from Contract with Customer [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following table presents how the adoption of ASC Topic 606 affected certain line items in the Consolidated Balance Sheets:

	June 28, 2019
(in thousands)	Recognition Under Previous Guidance				Impact of the Adoption of ASC Topic 606				Recognition Under ASC Topic 606
Receivables and contract assets (previously presented as Receivables)	$	2,775,479			$	3,710			$	2,779,189
Current assets held for sale	$	4,920			$	(2,216	)		$	2,704
Miscellaneous noncurrent assets	$	771,423			$	(3,321	)		$	768,102
Contract Liabilities (previously presented as Billings in excess of costs)	$	519,561			$	(13,167	)		$	506,394
Current liabilities held for sale	$	5,470			$	(3,367	)		$	2,103

The following table presents how the adoption of ASC Topic 606 affected certain line items in the Consolidated Statements of Earnings:

	Three Months Ended												Nine Months Ended
	June 28, 2019												June 28, 2019
(in thousands)	Recognition Under Previous Guidance				Impact of the Adoption of ASC Topic 606				Recognition Under ASC Topic 606				Recognition Under Previous Guidance				Impact of the Adoption of ASC Topic 606				Recognition Under ASC Topic 606
Revenues	$	3,166,867			$	2,755			$	3,169,622			$	9,328,219			$	16,786			$	9,345,005
Direct costs of contracts	(2,543,488		)		—				(2,543,488		)		(7,533,511		)		—				(7,533,511		)
Gross profit	623,379				2,755				626,134				1,794,708				16,786				1,811,494
Operating Profit	87,199				2,755				89,954				288,977				16,786				305,763
Earnings from Continuing Operations Before Taxes	90,644				2,755				93,399				280,633				16,786				297,419
Income tax expense for Continuing Operations	2,831				(850		)		1,981				(9,508		)		(3,321		)		(12,829		)
Net Earnings of the Group from Continuing Operations	93,475				1,905				95,380				271,125				13,465				284,590
Net Earnings of the Group from Discontinued Operations	434,442				1,242				435,684				434,087				4,750				438,837
Net Earnings of the Group	527,917				3,147				531,064				705,212				18,215				723,427
Net Earnings Attributable to Jacobs from Continuing Operations	87,460				1,905				89,365				255,547				13,465				269,012
Net Earnings Attributable to Jacobs from Discontinued Operations	433,835				1,242				435,077				431,892				4,750				436,642
Net Earnings Attributable to Jacobs	$	521,295			$	3,147			$	524,442			$	687,439			$	18,215			$	705,654

Disaggregation of Revenue

The following table further disaggregates our revenue by geographic area for the three and nine months ended June 28, 2019 and June 29, 2018 (in thousands):

	Three Months Ended								Nine Months Ended
	June 28, 2019				June 29, 2018				June 28, 2019				June 29, 2018
Revenues:
United States	$	2,357,836			$	2,047,974			$	6,701,474			$	5,086,405
Europe	491,036				561,689				1,706,163				1,649,181
Canada	59,830				56,104				160,339				115,659
Asia	33,918				45,241				113,294				119,699
India	12,129				13,629				43,131				38,987
Australia and New Zealand	136,711				146,536				386,594				437,244
South America and Mexico	1,225				5,964				7,244				12,924
Middle East and Africa	76,937				56,486				226,766				127,817
Total	$	3,169,622			$	2,933,623			$	9,345,005			$	7,587,916

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
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