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Revenue Recognition | 6 Months Ended
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Dec. 31, 2018
Revenue From Contract With Customer [Abstract] |
Revenue Recognition |
7. | Revenue Recognition
We disaggregate our revenue arrangements by contract type, customer, and whether the Company performs on the contract as the prime or subcontractor. We believe that these categories allow for a better understanding of the nature, amount, timing, and uncertainty of revenue and cash flows arising from our contracts. Revenue by Contract Type The Company generated revenue on our cost-plus-fee, firm fixed-price (including proprietary software product sales), and time-and-materials contracts as follows during the three and six months ended December 31, 2018 (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2018 |  |  | December 31, 2018 |
|  | Domestic |  |  | International |  |  | Total |  |  | Domestic |  |  | International |  |  | Total |
Cost-plus-fee |  | $ | 657,050 |  |  | $ | — |  |  | $ | 657,050 |  |  | $ | 1,298,577 |  |  | $ | — |  |  | $ | 1,298,577 |
Firm fixed-price |  |  | 313,018 |  |  |  | 24,356 |  |  |  | 337,374 |  |  |  | 634,089 |  |  |  | 47,289 |  |  |  | 681,378 |
Time and materials |  |  | 172,484 |  |  |  | 14,733 |  |  |  | 187,217 |  |  |  | 336,409 |  |  |  | 31,141 |  |  |  | 367,550 |
Total |  | $ | 1,142,552 |  |  | $ | 39,089 |  |  | $ | 1,181,641 |  |  | $ | 2,269,075 |  |  | $ | 78,430 |  |  | $ | 2,347,505 |
Customer Information The Company generated revenue from our primary customer groups as follows during the three and six months ended December 31, 2018 (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2018 |  |  | December 31, 2018 |
|  | Domestic |  |  | International |  |  | Total |  |  | Domestic |  |  | International |  |  | Total |
Department of Defense |  | $ | 834,797 |  |  | $ | — |  |  | $ | 834,797 |  |  | $ | 1,653,063 |  |  | $ | — |  |  | $ | 1,653,063 |
Federal civilian agencies |  |  | 287,915 |  |  |  | — |  |  |  | 287,915 |  |  |  | 580,117 |  |  |  | — |  |  |  | 580,117 |
Commercial and other |  |  | 19,840 |  |  |  | 39,089 |  |  |  | 58,929 |  |  |  | 35,895 |  |  |  | 78,430 |  |  |  | 114,325 |
Total |  | $ | 1,142,552 |  |  | $ | 39,089 |  |  | $ | 1,181,641 |  |  | $ | 2,269,075 |  |  | $ | 78,430 |  |  | $ | 2,347,505 |
Prime or Subcontractor The Company generated revenue as either the prime or subcontractor as follows during the three and six months ended December 31, 2018 (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2018 |  |  | December 31, 2018 |
|  | Domestic |  |  | International |  |  | Total |  |  | Domestic |  |  | International |  |  | Total |
Prime contractor |  | $ | 1,052,867 |  |  | $ | 39,089 |  |  | $ | 1,091,956 |  |  | $ | 2,103,398 |  |  | $ | 78,430 |  |  | $ | 2,181,828 |
Subcontractor |  |  | 89,685 |  |  |  | — |  |  |  | 89,685 |  |  |  | 165,677 |  |  |  | — |  |  |  | 165,677 |
Total |  | $ | 1,142,552 |  |  | $ | 39,089 |  |  | $ | 1,181,641 |  |  | $ | 2,269,075 |  |  | $ | 78,430 |  |  | $ | 2,347,505 |
Significant Estimates The Company uses an estimate at completion (EAC) as the basis to measure progress towards the complete satisfaction of our contractual performance obligations, for each of our contracts in which revenue is recognized using a percentage of completion calculation. The EAC process requires the Company to use professional judgment when assessing risks, estimating contract revenue and costs, estimating variable consideration, and making assumptions for schedule and technical issues. Based on changes in a contract’s EAC, a cumulative adjustment to revenue will be recorded. During the three and six months ended December 31, 2018, we recognized an increase to income before income taxes of $4.2 million ($0.12 per diluted share) and $10.6 million ($0.31 per diluted share), respectively, from EAC adjustments primarily related to the final true-up of firm fixed-price contracts. The Company used its statutory tax rate when calculating the impact to diluted earnings per share. The Company records final true-up adjustments to our estimated award or incentive fees in the period in which we receive the customer’s final performance score or when we can determine that more objective, contractually-defined criteria have been fully satisfied. These final true-up adjustments are disclosed as revenue recognized from previously satisfied performance obligations. For the three and six months ended December 31, 2018, the revenue recognized from previously satisfied performance obligations was not material. Remaining Performance Obligations The Company’s remaining performance obligations balance as of period end represents the expected revenue to be recognized for the satisfaction of remaining performance obligations on our existing contracts. This balance excludes unexercised contract option years and task orders that may be issued underneath an IDIQ vehicle. Our remaining performance obligations balance as of December 31, 2018 was $5.3 billion. The Company expects to recognize approximately 86 percent of our remaining performance obligations balance as revenue over the next year and the remaining 14 percent thereafter.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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