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Contracts with Customers (Tables) | 9 Months Ended
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Sep. 30, 2019
Revenue From Contract With Customer [Abstract] |
Summary of Disaggregation of Revenue | The Company’s contracts contain both fixed-price and cost reimbursable components. Contract types are based on the component that represents the majority of the contract. The following table presents revenue disaggregated by contract type (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 28, 2018 |  |  | September 30, 2019 |  |  | September 28, 2018 |  |  | September 30, 2019 |
Fixed-Price |  | $ | 300,225 |  |  | $ | 288,316 |  |  | $ | 833,224 |  |  | $ | 850,658 |
Time-and-Materials |  |  | 254,435 |  |  |  | 285,586 |  |  |  | 732,555 |  |  |  | 810,656 |
Cost-Plus |  |  | 421,497 |  |  |  | 449,375 |  |  |  | 1,065,789 |  |  |  | 1,256,110 |
Total |  | $ | 976,157 |  |  | $ | 1,023,277 |  |  | $ | 2,631,568 |  |  | $ | 2,917,424 |
Summary of Contract Assets and Contract Liabilities | Contract assets and contract liabilities balances at December 31, 2018 and September 30, 2019 were as follows (in thousands):
|  | December 31, 2018 |  |  | September 30, 2019 |  |  | $ change |  |  | % change |
Contract assets |  | $ | 515,319 |  |  | $ | 583,670 |  |  | $ | 68,351 |  |  |  | 13.3 | %
Contract liabilities |  |  | 208,576 |  |  |  | 231,032 |  |  |  | 22,456 |  |  |  | 10.8 | %
Net contract assets (liabilities) (1) |  | $ | 306,743 |  |  | $ | 352,638 |  |  | $ | 45,895 |  |  |  | 15.0 | %
(1) | Total contract retentions included in net contract assets (liabilities) were $89.6 million as of December 31, 2018. Total contract retentions included in net contract assets (liabilities) were $87.1 million as of September 30, 2019, of which $39.7 million are not expected to be paid in the next 12 months. Contract assets at December 31, 2018 and September 30, 2019 include $47.1 million and $58.9 million, respectively, related to unapproved change orders, claims, and requests for equitable adjustment. For the three and nine months ended September 28, 2018 and September 30, 2019, there were no material losses recognized related to the collectability of claims, unapproved change orders, and requests for equitable adjustment.
Summary of Changes in Contract Assets and Contract Liabilities | The changes in contract assets and contract liabilities were the result of normal business activity and not significantly impacted by other factors, except as follows:
|  | December 31, 2018 |  |  | September 30, 2019 |
Acquired contract assets |  | $ | 35,229 |  |  | $ | 9,747 |
Acquired contract liabilities |  |  | 3,529 |  |  |  | 1,300 |
Change in the estimate of variable consideration |  |  | - |  |  |  | 14,506 |
Reversal of provision for contract losses (1) |  | $ | 133,180 |  |  | $ | - |
(1) | Reversal of provision for contract losses of $133.2 million, of which $55.1 million was recorded as an increase in revenue with the remainder recorded as other income.
Summary of Accounts Receivable, Net | Accounts receivable, net consisted of the following as of December 31, 2018 and September 30, 2019 (in thousands):
|  | December 31, 2018 |  |  | September 30, 2019 |
Billed |  | $ | 538,808 |  |  | $ | 516,099 |
Unbilled |  |  | 135,180 |  |  |  | 200,477 |
Total accounts receivable, gross |  |  | 673,988 |  |  |  | 716,576 |
Allowance for doubtful accounts |  |  | (50,702 | ) |  |  | (42,902 | )
Total accounts receivable, net |  | $ | 623,286 |  |  | $ | 673,674 |
Summary of Remaining Unsatisfied Performance Obligations Expect to Satisfy | The Company expects to satisfy its RUPO as of September 30, 2019 over the following periods (in thousands):
Period RUPO Will Be Satisfied |  | Within One Year |  |  | Within One to Two Years |  |  | Thereafter |
Federal Solutions |  | $ | 1,198,634 |  |  | $ | 436,620 |  |  | $ | 208,734 |
Critical Infrastructure |  |  | 1,636,525 |  |  |  | 960,469 |  |  |  | 643,170 |
Total |  | $ | 2,835,159 |  |  | $ | 1,397,089 |  |  | $ | 851,904 |

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