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Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021				March 31, 2020
Fixed-Price		$	229,942			$	308,308
Time-and-Materials			239,665				252,439
Cost-Plus			405,090				410,246
Total		$	874,697			$	970,993

Summary of Contract Assets and Contract Liabilities

Contract assets and contract liabilities balances at March 31, 2021 and December 31, 2020 were as follows (in thousands):

		March 31, 2021				December 31, 2020
Contract assets		$	607,676			$	576,568
Contract liabilities			186,028				201,864
Net contract assets (liabilities) (1)		$	421,648			$	374,704

(1) Total contract retentions included in net contract assets (liabilities) were $92.3 million as of March 31, 2021, of which $41.0 million are not expected to be paid in the next 12 months. Total contract retentions included in net contract assets (liabilities) were $93.8 million as of December 31, 2020. Contract assets at March 31, 2021 and December 31, 2020 include $117.8 million and $116.6 million, respectively, related to unapproved change orders, claims, and requests for equitable adjustment. For the three months ended March 31, 2021 and March 31, 2020, 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:

		March 31, 2021				December 31, 2020
Acquired contract assets		$	-			$	8,350
Acquired contract liabilities			-				300

Summary of Accounts Receivable, Net

Accounts receivable, net consisted of the following as of March 31, 2021 and December 31, 2020 (in thousands):

		2021				2020
Billed		$	521,031			$	512,357
Unbilled			176,552				190,222
Total accounts receivable, gross			697,583				702,579
Allowance for doubtful accounts			(3,999	)			(4,001	)
Total accounts receivable, net		$	693,584			$	698,578

Summary of Remaining Unsatisfied Performance Obligations Expect to Satisfy

The Company expects to satisfy its RUPO as of March 31, 2021 over the following periods (in thousands):

Period RUPO Will Be Satisfied		Within One Year				Within One to Two Years				Thereafter
Federal Solutions		$	1,096,552			$	493,388			$	376,121
Critical Infrastructure			1,590,691				603,192				980,126
Total		$	2,687,243			$	1,096,580			$	1,356,247

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Summary of changes in contract assets and contract liabilities.

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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
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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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Tabular disclosure of expected timing for satisfying remaining performance obligation.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
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-Topic 606
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