XML 42 R11.htm IDEA: XBRL DOCUMENT
v3.20.4

Contracts with Customers | 12 Months Ended
--- | ---
Dec. 31, 2020
Revenue From Contract With Customer [Abstract] |
Contracts with Customers |
4. | Contracts with Customers
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):
|  | December 31, 2020 |  |  | December 31, 2019 |  |  | December 31, 2018 |
Cost plus |  | $ | 1,631,140 |  |  | $ | 1,705,832 |  |  | $ | 1,473,815 |
Time-and-Materials |  |  | 1,034,596 |  |  |  | 1,074,037 |  |  |  | 961,759 |
Fixed price |  |  | 1,253,210 |  |  |  | 1,174,943 |  |  |  | 1,124,934 |
Total |  | $ | 3,918,946 |  |  | $ | 3,954,812 |  |  | $ | 3,560,508 |
Refer to “Note 21—Segment Information” for the Company’s revenues by business lines. Contract Assets and Contract Liabilities Contract assets and contract liabilities balances at December 31, 2020 and December 31, 2019 were as follows (in thousands):
|  | December 31, 2020 |  |  | December 31, 2019 |  |  | $ change |  |  | % change |
Contract assets |  | $ | 576,568 |  |  | $ | 575,089 |  |  | $ | 1,479 |  |  |  | 0.3 | %
Contract liabilities |  |  | 201,864 |  |  |  | 230,681 |  |  |  | (28,817 | ) |  |  | -12.5 | %
Net contract assets (liabilities) (1) |  | $ | 374,704 |  |  | $ | 344,408 |  |  | $ | 30,296 |  |  |  | 8.8 | %
(1) | Total contract retentions included in net contract assets (liabilities) were $93.8 million as of December 31, 2020, of which $43.1 million are not expected to be paid in 2021. Total contract retentions included in net contract assets (liabilities) were $85.5 million as of December 31, 2019. Contract assets at December 31, 2020 and December 31, 2019 include approximately $116.6 million and $73.0 million, respectively, related to unapproved change orders, claims, and requests for equitable adjustment. For the years ended December 31, 2020 and December 31, 2019, no material losses were recognized related to the collectability of claims, unapproved change orders, and requests for equitable adjustment.
During the years ended December 31, 2020 and December 31, 2019, the Company recognized revenue of approximately $137.4 million and $129.9 million, respectively, that was included in the corresponding contract liability balance at December 31, 2019 and December 31, 2018, respectively. Certain changes in contract assets and contract liabilities consisted of the following:
|  | December 31, 2020 |  |  | December 31, 2019 |
Acquired contract assets |  | $ | 8,350 |  |  | $ | 9,747 |
Acquired contract liabilities |  |  | 300 |  |  |  | 1,300 |
There was no significant impairment of contract assets recognized during the years ended December 31, 2020 and December 31, 2019. 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:
|  | 2020 |  |  | 2019 |  |  | 2018 |
Revenue impact, net |  | $ | 8,875 |  |  | $ | 12,166 |  |  | $ | - |
| Accounts Receivable, Net
Accounts receivable, net consisted of the following as of December 31, 2020 and December 31, 2019 (in thousands):
|  | 2020 |  |  | 2019 |
Billed |  | $ | 512,357 |  |  | $ | 475,528 |
Unbilled |  |  | 190,222 |  |  |  | 201,461 |
Total accounts receivable, gross |  |  | 702,579 |  |  |  | 676,989 |
Allowance for doubtful accounts |  |  | (4,001 | ) |  |  | (5,497 | )
Total accounts receivable, net |  | $ | 698,578 |  |  | $ | 671,492 |
Billed accounts receivable represents amounts billed to clients that have not been collected. Unbilled accounts receivable represents amounts where the Company has a present contractual right to bill but an invoice has not been issued to the customer at the period-end date. In connection with the adoption of ASU 2016-13, we have modified the historical presentation of gross receivables and the allowance for doubtful accounts to reflect only expected credit losses in the allowance in conformity with the current period presentation. The allowance for doubtful accounts was determined based on consideration of trends in actual and forecasted credit quality of clients, including delinquency and payment history, type of client, such as a government agency or commercial sector client, and general economic conditions and particular industry conditions that may affect a client’s ability to pay. COVID-19 Impacts: We have not seen and do not expect there to be a material risk of non-payment from either our government agency or commercial customers. We have experienced payment delays due to administrative limitations from both types of customers. Transaction Price Allocated to the Remaining Unsatisfied Performance Obligations The Company’s remaining unsatisfied performance obligations (“RUPO”) as of December 31, 2020 represent a measure of the total dollar value of work to be performed on contracts awarded and in progress. The Company had $5.2 billion in RUPO as of December 31, 2020. RUPO will increase with awards of new contracts and decrease as the Company performs work and recognizes revenue on existing contracts. Projects are included within RUPO at such time the project is awarded and agreement on contract terms has been reached. The difference between RUPO and backlog relates to unexercised option years that are included within backlog and the value of Indefinite Delivery/Indefinite Quantity (“IDIQ”) contracts included in backlog for which task orders have not been issued. RUPO is comprised of: (a) original transaction price, (b) change orders for which written confirmations from our customers have been received, (c) pending change orders for which the Company expects to receive confirmations in the ordinary course of business, and (d) claim amounts that the Company has made against customers for which it has determined that it has a legal basis under existing contractual arrangements and a significant reversal of revenue is not probable, less revenue recognized to-date. The Company expects to satisfy its RUPO as of December 31, 2020 over the following periods (in thousands):
Period RUPO Will Be Satisfied |  | Within One Year |  |  | Within One to Two Years |  |  | Thereafter |
Federal Solutions |  | $ | 1,317,910 |  |  | $ | 516,228 |  |  | $ | 292,648 |
Critical Infrastructure |  |  | 1,423,782 |  |  |  | 702,041 |  |  |  | 920,352 |
Total |  | $ | 2,741,692 |  |  | $ | 1,218,269 |  |  | $ | 1,213,000 |

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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=121604090&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=121604090&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=121604090&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=121604090&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=121604090&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=121604090&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=121604090&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=121604090&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=121604090&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration