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Contracts with Customers (Tables) | 9 Months Ended
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Sep. 30, 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 |  |  | Nine Months Ended |
|  | September 30, 2020 |  |  | September 30, 2019 |  |  | September 30, 2020 |  |  | September 30, 2019 |
Fixed-Price |  | $ | 324,901 |  |  | $ | 288,316 |  |  | $ | 944,577 |  |  | $ | 850,658 |
Time-and-Materials |  |  | 265,987 |  |  |  | 285,586 |  |  |  | 777,807 |  |  |  | 810,656 |
Cost-Plus |  |  | 413,348 |  |  |  | 449,375 |  |  |  | 1,232,304 |  |  |  | 1,256,110 |
Total |  | $ | 1,004,236 |  |  | $ | 1,023,277 |  |  | $ | 2,954,688 |  |  | $ | 2,917,424 |
Summary of Contract Assets and Contract Liabilities | Contract assets and contract liabilities balances at September 30, 2020 and December 31, 2019 were as follows (in thousands):
|  | September 30, 2020 |  |  | December 31, 2019 |  |  | $ change |  |  | % change |
Contract assets |  | $ | 610,893 |  |  | $ | 575,089 |  |  | $ | 35,804 |  |  |  | 6.2 | %
Contract liabilities |  |  | 212,373 |  |  |  | 230,681 |  |  |  | (18,308 | ) |  |  | -7.9 | %
Net contract assets (liabilities) (1) |  | $ | 398,520 |  |  | $ | 344,408 |  |  | $ | 54,112 |  |  |  | 15.7 | %
(1) | Total contract retentions included in net contract assets (liabilities) were $89.8 million as of September 30, 2020, of which $42.0 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 September 30, 2020 and December 31, 2019 include $96.2 million and $73.0 million, respectively, related to unapproved change orders, claims, and requests for equitable adjustment. For the three and nine months ended September 30, 2020 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 | Certain changes in contract assets and contract liabilities consisted of the following:
|  | September 30, 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 Changes in Revenue | Revisions in estimates, such as changes in estimated claims or incentives, related to performance obligations partially satisfied in previous periods that individually had an impact of $5 million or more on revenue resulted in the following changes in revenue:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2020 |  |  | September 30, 2019 |  |  | September 30, 2020 |  |  | September 30, 2019 |
Revenue impact, net |  | $ | (134 | ) |  | $ | 9,116 |  |  | $ | 8,848 |  |  | $ | 9,116 |
Summary of Accounts Receivable, Net | Accounts receivable, net consisted of the following as of September 30, 2020 and December 31, 2019 (in thousands):
|  | September 30, 2020 |  |  | December 31, 2019 |
Billed |  | $ | 527,654 |  |  | $ | 475,528 |
Unbilled |  |  | 252,963 |  |  |  | 201,461 |
Total accounts receivable, gross |  |  | 780,617 |  |  |  | 676,989 |
Allowance for doubtful accounts |  |  | (5,557 | ) |  |  | (5,497 | )
Total accounts receivable, net |  | $ | 775,060 |  |  | $ | 671,492 |
Summary of Remaining Unsatisfied Performance Obligations Expect to Satisfy | The Company expects to satisfy its RUPO as of September 30, 2020 over the following periods (in thousands):
Period RUPO Will Be Satisfied |  | Within One Year |  |  | Within One to Two Years |  |  | Thereafter |
Federal Solutions |  | $ | 1,174,719 |  |  | $ | 379,069 |  |  | $ | 560,850 |
Critical Infrastructure |  |  | 1,408,497 |  |  |  | 700,549 |  |  |  | 749,792 |
Total |  | $ | 2,583,216 |  |  | $ | 1,079,618 |  |  | $ | 1,310,642 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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