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REVENUE
 12 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
The Company's revenues from contracts with customers (clients) are derived from offerings that include management and technology consulting services, analytics, digital solutions, engineering, mission operations, and cyber services, substantially with the U.S. government and its agencies, and to a lesser extent, subcontractors. The Company also serves foreign governments, as well as domestic and international commercial clients. The Company performs under various types of contracts, which include cost-reimbursable-plus-fee contracts, time-and-materials contracts, and fixed-price contracts.
Disaggregation of Revenue
We disaggregate our revenue from contracts with customers by contract type, customer, as well as whether the Company acts as prime contractor or sub-contractor, as we believe these categories best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. The following series of tables presents our revenue disaggregated by these categories.
Revenue by Contract Type:
    We generate revenue under the following three basic types of contracts:
•Cost-Reimbursable Contracts: Cost-reimbursable contracts provide for the payment of allowable costs incurred during performance of the contract, up to a ceiling based on the amount that has been funded, plus a fixed fee or award fee.
•Time-and-Materials Contracts: Under contracts in this category, we are paid a fixed hourly rate for each direct labor hour expended, and we are reimbursed for billable material costs and billable out-of-pocket expenses inclusive of allocable indirect costs. We assume the financial risk on time-and-materials contracts because our costs of performance may exceed negotiated hourly rates.
•Fixed-Price Contracts: Under a fixed-price contract, we agree to perform the specified work for a predetermined price. To the extent our actual direct and allocated indirect costs decrease or increase from the estimates upon which the price was negotiated, we will generate more or less profit, respectively, or could incur a loss.

The table below presents the total revenue for each type of contract:
 Fiscal Year Ended March 31,
 202220212020
Cost-reimbursable$4,514,262 54%$4,419,533 56%$4,211,592 57%
Time-and-materials2,017,094 24%1,962,999 25%1,737,414 23%
Fixed-price1,832,344 22%1,476,406 19%1,514,835 20%
Total Revenue$8,363,700 100%$7,858,938 100%$7,463,841 100%
Revenue by Customer Type:    
Fiscal Year Ended March 31,
202220212020
U.S. government(1):
Defense Clients$3,955,473 47%$3,920,503 49%$3,596,081 47%
Intelligence Clients1,573,037 19%1,549,417 20%1,580,925 22%
Civil Clients2,618,914 31%2,183,184 28%2,020,320 27%
Total U.S. government8,147,424 97%7,653,104 97%7,197,326 96%
Global Commercial Clients216,276 3%205,834 3%266,515 4%
Total Revenue$8,363,700 100%$7,858,938 100%$7,463,841 100%
(1) Certain contracts were reassigned between the various verticals of our U.S. government business shown in the table above to better align our operations to the customers we serve within each market. Prior year revenue by customer type has been recast to reflect the changes.

Revenue by Whether the Company Acts as a Prime Contractor or a Sub-Contractor:    
Fiscal Year Ended March 31,
202220212020
Prime Contractor$7,864,273 94%$7,311,313 93%$6,884,763 92%
Sub-contractor499,427 6%547,625 7%579,078 8%
Total Revenue$8,363,700 100%$7,858,938 100%$7,463,841 100%

Performance Obligations
Remaining performance obligations represent the transaction price of exercised contracts for which work has not yet been performed, irrespective of whether funding has or has not been authorized and appropriated as of the date of exercise. Remaining performance obligations exclude negotiated but unexercised options, the unfunded value of expired contracts, and certain variable consideration which the Company does not expect to recognize as revenue.
As of March 31, 2022 and 2021, the Company had $7.4 billion and $6.7 billion of remaining performance obligations, respectively. We expect to recognize approximately 70% of the remaining performance obligations as of March 31, 2022 as revenue over the next 12 months, and approximately 85% over the next 24 months. The remainder is expected to be recognized thereafter.
Contract Balances
As discussed in Note 2, the Company's performance obligations are typically satisfied over time and revenue is generally recognized using a cost-based input method. Fixed-price contracts are typically billed to the customer using milestone or fixed monthly payments, while cost-reimbursable-plus-fee and time-and-materials contracts are typically billed to the customer at periodic intervals (e.g. monthly or weekly) as indicated by the terms of the contract. Disparities between the timing of revenue recognition and customer billings and cash collections result in net contract assets or liabilities being recognized at the end of each reporting period.
Contract assets primarily consist of unbilled receivables typically resulting from revenue recognized exceeding the amount billed to the customer and right to payment is not just subject to the passage of time. Unbilled amounts represent revenues for which billings have not yet been presented to customers. These amounts are generally billed and collected within one year subject to various conditions including, without limitation, appropriated and available funding. Long-term unbilled receivables not anticipated to be billed and collected within one year, which are primarily related to retainage, holdbacks, and long-term rate settlements to be billed at contract closeout, are included in other long-term assets in the accompanying condensed consolidated balance sheets. Contract liabilities primarily consist of advance payments, billings in excess of costs incurred and deferred revenue. Contract assets and liabilities are reported on a net contract basis at the end of each reporting period. The Company maintains an allowance for credit losses to provide for an estimate of uncollectible receivables. Benefit for credit losses recognized were $(1.5) million, $(2.6) million, and $(6.4) million for fiscal 2022, 2021, and 2020, respectively.
The following table summarizes the contract assets and liabilities, and accounts receivable, net of allowance recognized on the Company’s condensed consolidated balance sheets:
March 31,
20222021
Current assets:
Accounts receivable–billed$465,322 $375,383 
Accounts receivable–unbilled (contract assets)1,157,667 1,037,968 
Allowance for credit losses— (1,457)
Accounts receivable, net1,622,989 1,411,894 
Other long-term assets:
Accounts receivable–unbilled (contract assets)64,339 63,869 
Total accounts receivable, net$1,687,328 $1,475,763 
Other current liabilities
Advance payments, billings in excess of costs incurred and deferred revenue (contract liabilities)$26,747 $15,906 

Changes in contract assets and contract liabilities are primarily due to the timing difference between the Company’s performance of services and payments from customers. For fiscal 2022, 2021 and 2020, we recognized revenue of $14.9 million, $24.5 million and $18.9 million, respectively, related to our contract liabilities on April 1, 2021, 2020 and 2019, respectively. To determine revenue recognized from contract liabilities during the reporting periods, the Company allocates revenue to individual contract liability balances and applies revenue recognized during the reporting periods first to the beginning balances of contract liabilities until the revenue exceeds the balances.