XML 28 R13.htm IDEA: XBRL DOCUMENT v3.20.4
Revenue Accounting for Contracts
 3 Months Ended
Jan. 01, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Accounting for Contracts Revenue Accounting for Contracts
Disaggregation of Revenues
Our revenues are principally derived from contracts to provide a diverse range of technical, professional, and construction services to a large number of industrial, commercial, and governmental clients. We provide a broad range of engineering, design, and architectural services; construction and construction management services; operations and maintenance services; and process, scientific, and systems consulting services. We provide our services through offices and subsidiaries located primarily in North America, South America, Europe, the Middle East, India, Australia, Africa, and Asia. We provide our services under cost-reimbursable and fixed-price contracts. Our contracts are with many different customers in numerous industries. Refer to Note 19- Segment Information for additional information on how we disaggregate our revenues by reportable segment.
The following table further disaggregates our revenue by geographic area for the three months ended January 1, 2021 and December 27, 2019 (in thousands):
Three Months Ended
January 1, 2021December 27, 2019
Revenues:
     United States$2,457,041 $2,532,716 
     Europe639,315 551,272 
     Canada55,627 55,396 
     Asia27,405 30,440 
     India14,548 5,980 
     Australia and New Zealand137,408 129,194 
     Middle East and Africa50,492 55,051 
Total$3,381,836 $3,360,049 
Contract Liabilities
Contract liabilities represent amounts billed to clients in excess of revenue recognized to date. Revenue recognized for the three months ended January 1, 2021 and December 27, 2019 that was included in the contract liability balance on October 2, 2020 and September 27, 2019, respectively was $259.0 million and $244.1 million, respectively.
Remaining Performance Obligations     
The Company’s remaining performance obligations as of January 1, 2021 represent a measure of the total dollar value of work to be performed on contracts awarded and in progress. The Company had approximately $17.3 billion in remaining performance obligations as of January 1, 2021. The Company expects to recognize approximately 44% of our remaining performance obligations into revenue within the next twelve months and the remaining 56% thereafter.
Although remaining performance obligations reflect business that is considered to be firm, cancellations, scope adjustments, foreign currency exchange fluctuations or deferrals may occur that impact their volume or the expected timing of their recognition. Remaining performance obligations are adjusted to reflect any known project cancellations, revisions to project scope and cost, foreign currency exchange fluctuations and project deferrals, as appropriate.