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Revenue | 6 Months Ended
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Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue | 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: | Three Months Ended September 30, |  | Six Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
| Cost-reimbursable | $ | 1,713 |  | 59 | % |  | $ | 1,781 |  | 57 | % |  | $ | 3,471 |  | 60 | % |  | $ | 3,441 |  | 56 | %
| Time-and-materials | 638 |  | 22 | % |  | 722 |  | 23 | % |  | 1,276 |  | 22 | % |  | 1,393 |  | 23 | %
| Fixed-price | 539 |  | 19 | % |  | 643 |  | 20 | % |  | 1,067 |  | 18 | % |  | 1,254 |  | 21 | %
| Total Revenue | $ | 2,890 |  | 100 | % |  | $ | 3,146 |  | 100 | % |  | $ | 5,814 |  | 100 | % |  | $ | 6,088 |  | 100 | %
Revenue by Customer Type (1): | Three Months Ended September 30, |  | Six Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
| Defense Customers | $ | 1,580 |  | 54 | % |  | $ | 1,547 |  | 49 | % |  | $ | 3,097 |  | 53 | % |  | $ | 2,968 |  | 48 | %
| Intelligence Customers | 483 |  | 17 | % |  | 494 |  | 16 | % |  | 967 |  | 17 | % |  | 951 |  | 16 | %
| Civil Customers | 827 |  | 29 | % |  | 1,105 |  | 35 | % |  | 1,750 |  | 30 | % |  | 2,169 |  | 36 | %
| Total Revenue | $ | 2,890 |  | 100 | % |  | $ | 3,146 |  | 100 | % |  | $ | 5,814 |  | 100 | % |  | $ | 6,088 |  | 100 | %
(1) Customer type is based on public market as determined by government agency hierarchy mapping. Revenue by customer type for comparative periods for certain contracts has been reclassified to align to the most recent mapping.
Revenue by Whether the Company Acts as a Prime Contractor or a Subcontractor: | Three Months Ended September 30, |  | Six Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
| Prime Contractor | $ | 2,701 |  | 93 | % |  | $ | 3,001 |  | 95 | % |  | $ | 5,442 |  | 94 | % |  | $ | 5,809 |  | 95 | %
| Subcontractor | 189 |  | 7 | % |  | 145 |  | 5 | % |  | 372 |  | 6 | % |  | 279 |  | 5 | %
| Total Revenue | $ | 2,890 |  | 100 | % |  | $ | 3,146 |  | 100 | % |  | $ | 5,814 |  | 100 | % |  | $ | 6,088 |  | 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 September 30, 2025 and March 31, 2025, the Company had $12.1 billion and $9.5 billion of remaining performance obligations, respectively. We expect to recognize approximately 65% of the remaining performance obligations at September 30, 2025 as revenue over the next 12 months, and approximately 70% 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 condensed consolidated balance sheets:
| September 30, 2025 |  | March 31, 2025
Current assets |  |  |
Accounts receivable–billed | $ | 636 |  |  | $ | 781 |
Accounts receivable–unbilled (contract assets) | 1,582 |  |  | 1,491 |
Allowance for credit losses | (1) |  |  | (1) |
Accounts receivable, net | 2,217 |  |  | 2,271 |
Other long-term assets |  |  |
Accounts receivable–unbilled (contract assets) | 59 |  |  | 58 |
Total accounts receivable, net | $ | 2,276 |  |  | $ | 2,329 |
Other current liabilities |  |  |
Advance payments, billings in excess of costs incurred and deferred revenue (contract liabilities) | $ | 19 |  |  | $ | 18 |
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 both the three months ended September 30, 2025 and 2024, we recognized revenue of $1 million, and for the six months ended September 30, 2025 and 2024, we recognized revenue of $12 million and $10 million, respectively, related to our contract liabilities on April 1, 2025 and 2024, 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 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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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