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Revenue | 12 Months Ended
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Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue Disaggregation of Revenue We disaggregate our revenue from contracts with customers by contract type and by customer type, as well as by 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: |  |  | Fiscal Year Ended March 31,
|  |  |  |  | 2024 |  | 2023 |  | 2022
Cost-reimbursable |  |  |  |  |  |  | $ | 5,873,045 |  | 55% |  | $ | 4,908,451 |  | 53% |  | $ | 4,514,262 |  | 54%
Time-and-materials |  |  |  |  |  |  | 2,530,366 |  | 24% |  | 2,296,965 |  | 25% |  | 2,017,094 |  | 24%
Fixed-price |  |  |  |  |  |  | 2,258,485 |  | 21% |  | 2,053,495 |  | 22% |  | 1,832,344 |  | 22%
Total Revenue |  |  |  |  |  |  | $ | 10,661,896 |  | 100% |  | $ | 9,258,911 |  | 100% |  | $ | 8,363,700 |  | 100%
Revenue by Customer Type: |  |  | Fiscal Year Ended March 31,
|  |  |  |  | 2024 |  | 2023 |  | 2022
U.S. government(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |
Defense Clients |  |  |  |  |  |  | $ | 5,055,779 |  | 47% |  | $ | 4,228,110 |  | 45% |  | $ | 3,965,590 |  | 47%
Intelligence Clients |  |  |  |  |  |  | 1,774,405 |  | 17% |  | 1,686,622 |  | 18% |  | 1,573,216 |  | 19%
Civil Clients |  |  |  |  |  |  | 3,658,465 |  | 34% |  | 3,112,537 |  | 34% |  | 2,608,618 |  | 31%
Total U.S. government |  |  |  |  |  |  | 10,488,649 |  | 98% |  | 9,027,269 |  | 97% |  | 8,147,424 |  | 97%
Global Commercial Clients |  |  |  |  |  |  | 173,247 |  | 2% |  | 231,642 |  | 3% |  | 216,276 |  | 3%
Total Revenue |  |  |  |  |  |  | $ | 10,661,896 |  | 100% |  | $ | 9,258,911 |  | 100% |  | $ | 8,363,700 |  | 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. Comparative periods 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,
|  |  |  | 2024 |  | 2023 |  | 2022
Prime Contractor |  |  |  |  |  |  | $ | 10,143,192 |  | 95% |  | $ | 8,755,628 |  | 95% |  | $ | 7,864,273 |  | 94%
Sub-contractor |  |  |  |  |  |  | 518,704 |  | 5% |  | 503,283 |  | 5% |  | 499,427 |  | 6%
Total Revenue |  |  |  |  |  |  | $ | 10,661,896 |  | 100% |  | $ | 9,258,911 |  | 100% |  | $ | 8,363,700 |  | 100%
Performance Obligations As of March 31, 2024 and 2023, the Company had $8.7 billion and $7.9 billion of remaining performance obligations, respectively. We expect to recognize approximately 70% of the remaining performance obligations as of March 31, 2024 as revenue over the next 12 months, and approximately 80% over the next 24 months. The remainder is expected to be recognized thereafter. Contract Balances The following table summarizes the contract assets and liabilities, and accounts receivable, net of allowance recognized on the Company’s consolidated balance sheets:
| March 31,
| 2024 |  | 2023
Current assets: |  |  |
Accounts receivable–billed | $ | 700,066 |  |  | $ | 551,666 |
Accounts receivable–unbilled (contract assets) | 1,347,577 |  |  | 1,223,482 |
Allowance for credit losses | (301) |  |  | (318) |
Accounts receivable, net | 2,047,342 |  |  | 1,774,830 |
Other long-term assets: |  |  |
Accounts receivable–unbilled (contract assets) | 57,355 |  |  | 59,455 |
Total accounts receivable, net | $ | 2,104,697 |  |  | $ | 1,834,285 |
Other current liabilities |  |  |
Advance payments, billings in excess of costs incurred and deferred revenue (contract liabilities) | $ | 15,527 |  |  | $ | 18,995 |
For fiscal 2024, 2023 and 2022, we recognized revenue of $17.2 million, $24.4 million and $14.9 million, respectively, related to our contract liabilities on April 1, 2023, 2022 and 2021, respectively. Benefit for credit losses recognized were $(0.3) million, $(2.0) million, and $(1.5) million for fiscal 2024, 2023, and 2022, respectively.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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