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Equity Method Investments | 12 Months Ended
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Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Equity Method Investments | EQUITY METHOD INVESTMENTS We have investments in entities that we account for using the equity method. Our share of the undistributed earnings of our equity method investees were $31.1 million and $41.3 million at December 31, 2023 and 2022, respectively. These amounts are included in Investments in Unconsolidated Affiliates on our consolidated balance sheets. The following tables summarize combined balance sheet and income statement information for investments accounted for under the equity method:
|  | December 31,
|  | 2023 |  | 2022
|  | (In thousands)
Current assets |  | $ | 555,364 |  |  | $ | 566,076 |
Noncurrent assets |  | 1,933 |  |  | 445 |
Total Assets |  | $ | 557,297 |  |  | $ | 566,521 |
Total Liabilities |  | $ | 307,562 |  |  | $ | 292,081 |
Owners' equity |  | 249,735 |  |  | 274,440 |
Total Liabilities and Owners' Equity |  | $ | 557,297 |  |  | $ | 566,521 |
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (In thousands)
Revenues |  | $ | 5,334,822 |  |  | $ | 4,580,032 |  |  | $ | 4,254,635 |
Gross profit |  | $ | 185,345 |  |  | $ | 176,592 |  |  | $ | 159,935 |
Net income |  | $ | 181,981 |  |  | $ | 173,339 |  |  | $ | 156,994 |
Reimbursable costs recorded in revenues by the unconsolidated joint ventures in our Government Operations segment totaled $5,126.6 million, $4,453.7 million and $4,102.9 million for the years ended December 31, 2023, 2022 and 2021, respectively. Income taxes for the investees are the responsibility of the respective owners. Accordingly, no provision for income taxes has been recorded by the investees. Reconciliations of net income per combined income statement information of our investees to equity in income of investees per our consolidated statements of income are as follows:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (In thousands)
Equity income based on stated ownership percentages |  | $ | 50,595 |  |  | $ | 46,784 |  |  | $ | 31,870 |
GAAP and other adjustments |  | 212 |  |  | (811) |  |  | 1,628 |
Equity in income of investees |  | $ | 50,807 |  |  | $ | 45,973 |  |  | $ | 33,498 |
Our transactions with unconsolidated affiliates were as follows:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (In thousands)
Sales to |  | $ | 18,530 |  |  | $ | 19,857 |  |  | $ | 11,838 |
Dividends received |  | $ | 61,937 |  |  | $ | 42,512 |  |  | $ | 20,475 |
Capital contributions, net of returns |  | $ | — |  |  | $ | 11,450 |  |  | $ | — |
At December 31, 2023 and 2022, Accounts receivable – other included amounts due from unconsolidated affiliates of $1.1 million and $1.5 million, respectively.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
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