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Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2025

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, 2025				March 31, 2024
Fixed-Price		$	574,573			$	631,219
Time-and-Materials			347,090				350,651
Cost-Plus			632,697				553,806
Total		$	1,554,360			$	1,535,676

Summary of Contract Assets and Contract Liabilities

Contract assets and contract liabilities balances at March 31, 2025 and December 31, 2024 were as follows (in thousands):

		March 31, 2025				December 31, 2024
Contract assets		$	822,781			$	741,504
Contract liabilities			297,511				289,799
Net contract assets (liabilities) (1)		$	525,270			$	451,705

(1)Total contract retentions included in net contract assets (liabilities) were $95.3 million as of March 31, 2025, of which $40.0 million are not expected to be paid in the next 12 months. Total contract retentions included in net contract assets (liabilities) were $89.8 million as of December 31, 2024. Contract assets at March 31, 2025 and December 31, 2024 include $70.0 million and $70.7 million, respectively, related to net claim recoveries. For the three months ended March 31, 2025 and March 31, 2024, there were no material losses recognized related to the collectability of claims, unapproved change orders, and requests for equitable adjustment.

Summary of Accounts Receivable, Net

Accounts receivable, net consisted of the following as of March 31, 2025 and December 31, 2024 (in thousands):

		2025				2024
Billed		$	714,688			$	712,046
Unbilled			414,149				392,236
Total accounts receivable, gross			1,128,837				1,104,282
Allowance for doubtful accounts			(3,886	)			(3,886	)
Total accounts receivable, net		$	1,124,951			$	1,100,396

Summary of Remaining Unsatisfied Performance Obligations Expect to Satisfy

The Company expects to satisfy its RUPO as of March 31, 2025 over the following periods (in thousands):

Period RUPO Will Be Satisfied		Within One Year				Within One to Two Years				Thereafter
Federal Solutions		$	1,842,826			$	284,453			$	45,480
Critical Infrastructure			2,491,757				1,214,470				932,299
Total		$	4,334,583			$	1,498,923			$	977,779

X

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
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- Definition

Tabular disclosure of expected timing for satisfying remaining performance obligation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(1)
-SubTopic 10
-Topic 606
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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
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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-Publisher FASB
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