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Revenue Accounting for Contracts
3 Months Ended
Dec. 27, 2024
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 technical, digital, process, scientific and systems consulting services. We provide our services through offices and subsidiaries located primarily in North 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 December 27, 2024 and December 29, 2023 (in thousands):
Three Months Ended
December 27, 2024December 29, 2023
Revenues:
     United States$1,812,830 $1,734,649 
     Europe712,567 675,535 
     Canada58,972 63,138 
     Asia33,369 30,610 
     India36,935 35,743 
     Australia and New Zealand140,032 140,321 
     Middle East and Africa138,251 130,231 
Total$2,932,956 $2,810,227 
Contract Liabilities
Contract liabilities represent amounts billed to clients in excess of revenue recognized to date. Revenue recognized for the three months ended December 27, 2024 that was previously included in the contract liability balance on September 27, 2024 was $410.7 million. Revenue recognized for the three months ended December 29, 2023 that was included in the contract liability balance on September 29, 2023 was $339.4 million.
Remaining Performance Obligation
The Company’s remaining performance obligations as of December 27, 2024 represent a measure of the total dollar value of work to be performed on contracts awarded and in progress. The Company had approximately $14.6 billion in remaining performance obligations as of December 27, 2024. The Company expects to recognize approximately 49% of its remaining performance obligations into revenue within the next twelve months and the remaining 51% thereafter. The majority of the remaining performance obligations after the first twelve months are expected to be recognized over a four-year period.
Although our remaining performance obligations reflect business volumes that are considered to be firm, normal business activities including scope adjustments, deferrals or cancellations may occur that impact volume or 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.