XML 73 R34.htm IDEA: XBRL DOCUMENT

Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2019

Revenue From Contract With Customer [Abstract]

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):

	December 31, 2018		December 31, 2019
Cost plus	$	1,473,815	$	1,705,832
Time-and-Materials		961,759		1,074,037
Fixed price		1,124,934		1,174,943
Total	$	3,560,508	$	3,954,812

Summary of Contract Assets and Contract Liabilities

Contract assets and contract liabilities balances at December 31, 2018 and December 31, 2019 were as follows (in thousands):

	December 31, 2018		December 31, 2019		$ change		% change
Contract assets	$	515,319	$	575,089	$	59,770		11.60	%
Contract liabilities		208,576		230,681		22,105		10.60	%
Net contract assets (liabilities)(1)	$	306,743	$	344,408	$	37,665		12.28	%

(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 $85.5 million as of December 31, 2019, of which $41.7 million are not expected to be paid in fiscal 2020. Contract assets at December 31, 2018 and December 31, 2019 include approximately $47.1 million and $73.0 million, respectively, related to unapproved change orders, claims, and requests for equitable adjustment. For the years ended December 31, 2018 and December 31, 2019, no material losses were recognized related to the collectability of claims, unapproved change orders, and requests for equitable adjustment.

Schedule of Change in Contract Assets and Contract Liabilities

The change in contract assets and contract liabilities was the result of normal business activity and not significantly impacted by other factors, except as follows:

	December 31, 2018		December 31, 2019
Acquired contract assets	$	35,229	$	9,747
Acquired contract liabilities		3,529		1,300
Change in the estimate of variable consideration		—		12,166
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 December 31, 2019 (in thousands):

	2018			2019
Billed	$	538,808		$	494,366
Unbilled		135,180			218,959
Total accounts receivable, gross		673,988			713,325
Allowance for doubtful accounts		(50,702	)		(41,833	)
Total accounts receivable, net	$	623,286		$	671,492

Summary of Remaining Unsatisfied Performance Obligations Expect to Satisfy

The Company expects to satisfy its RUPO as of December 31, 2019 over the following periods (in thousands):

	Within One Year		Within One to Two Years		Thereafter
Federal Solutions	$	1,207,900	$	451,278	$	176,103
Critical Infrastructure		1,634,625		632,273		859,966
Total RUPO	$	2,842,525	$	1,083,551	$	1,036,069