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Revenues from Contracts with Customers | 6 Months Ended
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Dec. 31, 2021
Revenue From Contract With Customer [Abstract] |
Revenues from Contracts with Customers |
Note 6. | Revenues from Contracts with Customers
Disaggregation of Revenues The Company disaggregates revenues by contract type, customer type, prime vs. subcontractor, and whether the solution provided is primarily expertise or technology. These categories represent how the nature, amount, timing, and uncertainty of revenues and cash flows are affected. Disaggregated revenues by contract type were as follows (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2021 |  |  | December 31, 2021 |
|  | Domestic |  |  | International |  |  | Total |  |  | Domestic |  |  | International |  |  | Total |
Cost-plus-fee |  | $ | 889,358 |  |  | $ | — |  |  | $ | 889,358 |  |  | $ | 1,783,071 |  |  | $ | — |  |  | $ | 1,783,071 |
Fixed-price |  |  | 400,011 |  |  |  | 33,279 |  |  |  | 433,290 |  |  |  | 774,485 |  |  |  | 66,510 |  |  |  | 840,995 |
Time-and-materials |  |  | 148,881 |  |  |  | 14,249 |  |  |  | 163,130 |  |  |  | 324,416 |  |  |  | 28,194 |  |  |  | 352,610 |
Total |  | $ | 1,438,250 |  |  | $ | 47,528 |  |  | $ | 1,485,778 |  |  | $ | 2,881,972 |  |  | $ | 94,704 |  |  | $ | 2,976,676 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2020 |  |  | December 31, 2020 |
|  | Domestic |  |  | International |  |  | Total |  |  | Domestic |  |  | International |  |  | Total |
Cost-plus-fee |  | $ | 843,584 |  |  | $ | — |  |  | $ | 843,584 |  |  | $ | 1,667,193 |  |  | $ | — |  |  | $ | 1,667,193 |
Fixed-price |  |  | 411,114 |  |  |  | 29,707 |  |  |  | 440,821 |  |  |  | 820,698 |  |  |  | 53,937 |  |  |  | 874,635 |
Time-and-materials |  |  | 172,362 |  |  |  | 11,944 |  |  |  | 184,306 |  |  |  | 357,356 |  |  |  | 29,033 |  |  |  | 386,389 |
Total |  | $ | 1,427,060 |  |  | $ | 41,651 |  |  | $ | 1,468,711 |  |  | $ | 2,845,247 |  |  | $ | 82,970 |  |  | $ | 2,928,217 |
Disaggregated revenues by customer type were as follows (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2021 |  |  | December 31, 2021 |
|  | Domestic |  |  | International |  |  | Total |  |  | Domestic |  |  | International |  |  | Total |
Department of Defense |  | $ | 1,037,014 |  |  | $ | — |  |  | $ | 1,037,014 |  |  | $ | 2,037,141 |  |  | $ | — |  |  | $ | 2,037,141 |
Federal Civilian agencies |  |  | 371,897 |  |  |  | — |  |  |  | 371,897 |  |  |  | 785,561 |  |  |  | — |  |  |  | 785,561 |
Commercial and other |  |  | 29,339 |  |  |  | 47,528 |  |  |  | 76,867 |  |  |  | 59,270 |  |  |  | 94,704 |  |  |  | 153,974 |
Total |  | $ | 1,438,250 |  |  | $ | 47,528 |  |  | $ | 1,485,778 |  |  | $ | 2,881,972 |  |  | $ | 94,704 |  |  | $ | 2,976,676 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2020 |  |  | December 31, 2020 |
|  | Domestic |  |  | International |  |  | Total |  |  | Domestic |  |  | International |  |  | Total |
Department of Defense |  | $ | 1,012,875 |  |  | $ | — |  |  | $ | 1,012,875 |  |  | $ | 2,017,070 |  |  | $ | — |  |  | $ | 2,017,070 |
Federal Civilian agencies |  |  | 390,034 |  |  |  | — |  |  |  | 390,034 |  |  |  | 780,213 |  |  |  | — |  |  |  | 780,213 |
Commercial and other |  |  | 24,151 |  |  |  | 41,651 |  |  |  | 65,802 |  |  |  | 47,964 |  |  |  | 82,970 |  |  |  | 130,934 |
Total |  | $ | 1,427,060 |  |  | $ | 41,651 |  |  | $ | 1,468,711 |  |  | $ | 2,845,247 |  |  | $ | 82,970 |  |  | $ | 2,928,217 |
Disaggregated revenues by prime vs. subcontractor were as follows (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2021 |  |  | December 31, 2021 |
|  | Domestic |  |  | International |  |  | Total |  |  | Domestic |  |  | International |  |  | Total |
Prime contractor |  | $ | 1,292,529 |  |  | $ | 43,317 |  |  | $ | 1,335,846 |  |  | $ | 2,591,182 |  |  | $ | 86,223 |  |  | $ | 2,677,405 |
Subcontractor |  |  | 145,721 |  |  |  | 4,211 |  |  |  | 149,932 |  |  |  | 290,790 |  |  |  | 8,481 |  |  |  | 299,271 |
Total |  | $ | 1,438,250 |  |  | $ | 47,528 |  |  | $ | 1,485,778 |  |  | $ | 2,881,972 |  |  | $ | 94,704 |  |  | $ | 2,976,676 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2020 |  |  | December 31, 2020 |
|  | Domestic |  |  | International |  |  | Total |  |  | Domestic |  |  | International |  |  | Total |
Prime contractor |  | $ | 1,288,533 |  |  | $ | 38,492 |  |  | $ | 1,327,025 |  |  | $ | 2,577,238 |  |  | $ | 76,625 |  |  | $ | 2,653,863 |
Subcontractor |  |  | 138,527 |  |  |  | 3,159 |  |  |  | 141,686 |  |  |  | 268,009 |  |  |  | 6,345 |  |  |  | 274,354 |
Total |  | $ | 1,427,060 |  |  | $ | 41,651 |  |  | $ | 1,468,711 |  |  | $ | 2,845,247 |  |  | $ | 82,970 |  |  | $ | 2,928,217 |
Disaggregated revenues by expertise or technology were as follows (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2021 |  |  | December 31, 2021 |
|  | Domestic |  |  | International |  |  | Total |  |  | Domestic |  |  | International |  |  | Total |
Expertise |  | $ | 668,209 |  |  | $ | 18,100 |  |  | $ | 686,309 |  |  | $ | 1,351,833 |  |  | $ | 37,522 |  |  | $ | 1,389,355 |
Technology |  |  | 770,041 |  |  |  | 29,428 |  |  |  | 799,469 |  |  |  | 1,530,139 |  |  |  | 57,182 |  |  |  | 1,587,321 |
Total |  | $ | 1,438,250 |  |  | $ | 47,528 |  |  | $ | 1,485,778 |  |  | $ | 2,881,972 |  |  | $ | 94,704 |  |  | $ | 2,976,676 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2020 |  |  | December 31, 2020 |
|  | Domestic |  |  | International |  |  | Total |  |  | Domestic |  |  | International |  |  | Total |
Expertise |  | $ | 715,812 |  |  | $ | 16,464 |  |  | $ | 732,276 |  |  | $ | 1,439,009 |  |  | $ | 33,950 |  |  | $ | 1,472,959 |
Technology |  |  | 711,248 |  |  |  | 25,187 |  |  |  | 736,435 |  |  |  | 1,406,238 |  |  |  | 49,020 |  |  |  | 1,455,258 |
Total |  | $ | 1,427,060 |  |  | $ | 41,651 |  |  | $ | 1,468,711 |  |  | $ | 2,845,247 |  |  | $ | 82,970 |  |  | $ | 2,928,217 |
Changes in Estimates The Company recognizes revenues on many of its fixed price, award fee, and incentive fee arrangements over time primarily using a cost-to-cost input method based on the ratio of costs incurred to date to total estimated costs at completion. The process requires the Company to use professional judgment when assessing risks, estimating contract revenues and costs, estimating variable consideration, and making assumptions for schedule and technical issues. The Company periodically reassesses its assumptions and updates its estimates as needed. When estimates of total costs to be incurred on a contract exceed total revenues, a provision for the entire loss on the contract is recorded in the period in which the loss is determined. Aggregate net changes in estimates for the three and six months ended December 31, 2021 reflected an increase to income before income taxes of $5.5 million ($0.17 per diluted share) and $8.2 million ($0.26 per diluted share), respectively, compared with $18.1 million ($0.53 per diluted share) and $25.9 million ($0.75 per diluted share), for the three and six months ended December 31, 2020, respectively. The Company uses its statutory tax rate when calculating the impact to diluted earnings per share. Revenues recognized from previously satisfied performance obligations were not material for the three and six months ended December 31, 2021 or the three and six months ended December 31, 2020. The change in revenues generally relates to final true-up adjustments for estimated award or incentive fees in the period in which the customer’s final performance score was received or when it can be determined that more objective, contractually-defined criteria have been fully satisfied. Remaining Performance Obligations Remaining performance obligations (RPO) represent the expected revenues to be recognized for the satisfaction of remaining performance obligations on existing contracts. This balance excludes unexercised contract option years and task orders that may be issued underneath an Indefinite Delivery/Indefinite Quantity (IDIQ) vehicle until such task orders are awarded. The RPO balance generally increases with the execution of new contracts and converts into revenues as contractual performance obligations are satisfied. The Company continues to monitor this balance as it is subject to change from execution of new contracts, contract modifications or extensions, government deobligations, or early terminations. As of December 31, 2021, t he Company had $7.2 billion of RPO and expects to recognize approximately 85 percent over the next twelve mo n ths with the remainder to be recognized 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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