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Contracts with Customers (Tables) | 3 Months Ended
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Mar. 31, 2020
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 |
|  | March 31, 2020 |  |  | March 31, 2019 |
Fixed-Price |  | $ | 308,308 |  |  | $ | 257,695 |
Time-and-Materials |  |  | 252,439 |  |  |  | 255,706 |
Cost-Plus |  |  | 410,246 |  |  |  | 391,004 |
Total |  | $ | 970,993 |  |  | $ | 904,405 |
Summary of Contract Assets and Contract Liabilities | Contract assets and contract liabilities balances at March 31, 2020 and December 31, 2019 were as follows (in thousands):
|  | March 31, 2020 |  |  | December 31, 2019 |
Contract assets |  | $ | 626,513 |  |  | $ | 575,089 |
Contract liabilities |  |  | 241,178 |  |  |  | 230,681 |
Net contract assets (liabilities) (1) |  | $ | 385,335 |  |  | $ | 344,408 |
(1) | Total contract retentions included in net contract assets (liabilities) were $88.9 million as of March 31, 2020, of which $47.5 million are not expected to be paid in the next 12 months. Total contract retentions included in net contract assets (liabilities) were $85.5 million as of December 31,2019. Contract assets at March 31, 2020 and December 31, 2019 include $87.8 million and $73.0 million, respectively, related to unapproved change orders, claims, and requests for equitable adjustment. For the three months ended March 31, 2020 and March 31, 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:
|  | March 31, 2020 |  |  | December 31, 2019 |
Acquired contract assets |  | $ | - |  |  | $ | 9,747 |
Acquired contract liabilities |  |  | - |  |  |  | 1,300 |
Change in the estimate of variable consideration |  |  | - |  |  |  | 12,166 |
Summary of Accounts Receivable, Net | Accounts receivable, net consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands):
|  | March 31, 2020 |  |  | December 31, 2019 |
Billed |  | $ | 544,444 |  |  | $ | 475,528 |
Unbilled |  |  | 220,278 |  |  |  | 201,461 |
Total accounts receivable, gross |  |  | 764,722 |  |  |  | 676,989 |
Allowance for doubtful accounts |  |  | (6,497 | ) |  |  | (5,497 | )
Total accounts receivable, net |  | $ | 758,225 |  |  | $ | 671,492 |
Summary of Remaining Unsatisfied Performance Obligations Expect to Satisfy | The Company expects to satisfy its RUPO as of March 31, 2020 over the following periods (in thousands):
Period RUPO Will Be Satisfied |  | Within One Year |  |  | Within One to Two Years |  |  | Thereafter |
Federal Solutions |  | $ | 1,319,438 |  |  | $ | 550,073 |  |  | $ | 315,965 |
Critical Infrastructure |  |  | 1,691,579 |  |  |  | 533,120 |  |  |  | 713,875 |
Total |  | $ | 3,011,017 |  |  | $ | 1,083,193 |  |  | $ | 1,029,840 |

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