XML 30 R18.htm IDEA: XBRL DOCUMENT
v3.23.1

REVENUES | 6 Months Ended
--- | ---
Mar. 31, 2023
REVENUES |
REVENUES | 12. REVENUES Disaggregation of Revenues Revenues by customer type, geographic location, and revenue recognition method for the three and six-month periods ended March 31, 2023 are presented in the tables below as the Company deems it best depicts how the nature, amount, timing and uncertainty of net sales and cash flows are affected by economic factors. The tables below also include a reconciliation of the disaggregated revenue within each reportable segment. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three months ended March 31, 2023 | ​ | Aerospace | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) |  | & Defense |  | USG |  | Test |  | Total
Customer type: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Commercial | ​ | $ | 48,228 | ​ | $ | 78,110 | ​ | $ | 43,188 | ​ | $ | 169,526
Government | ​ |  | 50,754 | ​ |  | 1,051 | ​ |  | 7,805 | ​ |  | 59,610
Total revenues | ​ | $ | 98,982 | ​ | $ | 79,161 | ​ | $ | 50,993 | ​ | $ | 229,136
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Geographic location: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
United States | ​ | $ | 82,516 | ​ | $ | 53,020 | ​ | $ | 27,504 | ​ | $ | 163,040
International | ​ |  | 16,466 | ​ |  | 26,141 | ​ |  | 23,489 | ​ |  | 66,096
Total revenues | ​ | $ | 98,982 | ​ | $ | 79,161 | ​ | $ | 50,993 | ​ | $ | 229,136
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue recognition method: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Point in time | ​ | $ | 47,255 | ​ | $ | 64,080 | ​ | $ | 11,968 | ​ | $ | 123,303
Over time | ​ |  | 51,727 | ​ |  | 15,081 | ​ |  | 39,025 | ​ |  | 105,833
Total revenues | ​ | $ | 98,982 | ​ | $ | 79,161 | ​ | $ | 50,993 | ​ | $ | 229,136
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six months ended March 31, 2023 | ​ | Aerospace | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
(In thousands) |  | & Defense |  | USG |  | Test |  | Total
Customer type: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Commercial |  | $ | 84,968 | ​ | $ | 148,273 | ​ | $ | 89,180 | ​ | $ | 322,421
Government | ​ | ​ | 96,997 | ​ |  | 1,933 | ​ |  | 13,286 | ​ |  | 112,216
Total revenues |  | $ | 181,965 | ​ | $ | 150,206 | ​ | $ | 102,466 | ​ | $ | 434,637
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Geographic location: | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
United States |  | $ | 151,450 | ​ | $ | 99,399 | ​ | $ | 55,007 | ​ | $ | 305,856
International | ​ | ​ | 30,515 | ​ |  | 50,807 | ​ |  | 47,459 | ​ |  | 128,781
Total revenues |  | $ | 181,965 | ​ | $ | 150,206 | ​ | $ | 102,466 | ​ | $ | 434,637
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue recognition method: | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Point in time |  | $ | 80,859 | ​ | $ | 120,111 | ​ | $ | 21,069 | ​ | $ | 222,039
Over time | ​ | ​ | 101,106 | ​ |  | 30,095 | ​ |  | 81,397 | ​ |  | 212,598
Total revenues |  | $ | 181,965 | ​ | $ | 150,206 | ​ | $ | 102,466 | ​ | $ | 434,637
​ Revenues by customer type, geographic location, and revenue recognition method for the three and six-month periods ended March 31, 2022 are presented in the tables below.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three months ended March 31, 2022 | ​ | Aerospace | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
(In thousands) |  | & Defense |  | USG |  | Test |  | Total
Customer type: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | $ | 33,562 | ​ | $ | 63,379 | ​ | $ | 51,903 | ​ | $ | 148,844
Government | ​ |  | 51,259 | ​ |  | 812 | ​ |  | 4,013 | ​ |  | 56,084
Total revenues | ​ | $ | 84,821 | ​ | $ | 64,191 | ​ | $ | 55,916 | ​ | $ | 204,928
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Geographic location: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
United States | ​ | $ | 72,621 | ​ | $ | 41,458 | ​ | $ | 31,071 | ​ | $ | 145,150
International | ​ |  | 12,200 | ​ |  | 22,733 | ​ |  | 24,845 | ​ |  | 59,778
Total revenues | ​ | $ | 84,821 | ​ | $ | 64,191 | ​ | $ | 55,916 | ​ | $ | 204,928
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue recognition method: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Point in time | ​ | $ | 35,666 | ​ | $ | 51,202 | ​ | $ | 14,838 | ​ | $ | 101,706
Over time | ​ |  | 49,155 | ​ |  | 12,989 | ​ |  | 41,078 | ​ |  | 103,222
Total revenues | ​ | $ | 84,821 | ​ | $ | 64,191 | ​ | $ | 55,916 | ​ | $ | 204,928
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six months ended March 31, 2022 | ​ | Aerospace | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
(In thousands) |  | & Defense |  | USG |  | Test |  | Total
Customer type: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | $ | 61,489 | ​ | $ | 126,221 | ​ | $ | 92,941 | ​ | $ | 280,651
Government | ​ |  | 93,576 | ​ |  | 1,455 | ​ |  | 6,256 | ​ |  | 101,287
Total revenues | ​ | $ | 155,065 | ​ | $ | 127,676 | ​ | $ | 99,197 | ​ | $ | 381,938
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Geographic location: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
United States | ​ | $ | 133,313 | ​ | $ | 80,199 | ​ | $ | 54,047 | ​ | $ | 267,559
International | ​ |  | 21,752 | ​ |  | 47,477 | ​ |  | 45,150 | ​ |  | 114,379
Total revenues | ​ | $ | 155,065 | ​ | $ | 127,676 | ​ | $ | 99,197 | ​ | $ | 381,938
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue recognition method: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Point in time | ​ | $ | 64,223 | ​ | $ | 102,037 | ​ | $ | 27,660 | ​ | $ | 193,920
Over time | ​ |  | 90,842 | ​ |  | 25,639 | ​ |  | 71,537 | ​ |  | 188,018
Total revenues | ​ | $ | 155,065 | ​ | $ | 127,676 | ​ | $ | 99,197 | ​ | $ | 381,938
​ Revenue Recognition Payment terms with our customers vary by the type and location of the customer and the products or services offered. Arrangements with customers that include payment terms extending beyond one year are not significant. The transaction price for these contracts reflects our estimate of returns and discounts, which are based on historical, current and forecasted information to determine the expected amount to which we will be entitled in exchange for transferring the promised goods or services to the customer. The realization of variable consideration occurs within a short period of time from product delivery; therefore, the time value of money effect is not significant. We primarily provide standard warranty programs for products in our commercial businesses for periods that typically range from one to two years. These assurance-type programs typically cannot be purchased separately and do not meet the criteria to be considered a performance obligation. Under the typical payment terms of our long term fixed price contracts, the customer pays us either performance-based or progress payments. Performance-based payments represent interim payments based on quantifiable measures of performance or on the achievement of specified events or milestones. Progress payments are interim payments of costs incurred as the work progresses. For our overtime revenue recognized using the output method of costs incurred, contract cost is estimated utilizing current contract specifications and expected engineering requirements. Contract costs typically are incurred over a period of several months to one or more years, and the estimation of these costs requires judgment. Our cost estimation process is based on the professional knowledge and experience of engineers and program managers along with finance professionals. We review and update our projections of costs quarterly or more frequently when circumstances significantly change. In addition, in the USG segment, we recognize revenue as a series of distinct services based on each day of providing services (straight-line over the contract term) for certain of our USG segment contracts. Under the typical payment terms of our service contracts, the customer pays us in advance of when services are performed. In addition, in the Test segment, we use milestones to measure progress for our Test segment contracts because it best depicts the transfer of control to the customer that occurs as we incur costs on our contracts. Remaining Performance Obligations Remaining performance obligations, which is the equivalent of backlog, represent the expected transaction price allocated to contracts that the Company expects to recognize as revenue in future periods when the Company performs under the contracts. These remaining obligations include amounts that have been formally appropriated under contracts with the U.S. Government, and exclude unexercised contract options and potential orders under ordering-type contracts such as Indefinite Delivery, Indefinite Quantity contracts. At March 31, 2023, the Company had $740.9 million in remaining performance obligations of which the Company expects to recognize revenues of approximately 79% in the next twelve months. Contract assets and liabilities Assets and liabilities related to contracts with customers are reported on a contract-by-contract basis at the end of each reporting period. Because of the timing difference of revenue recognition and customer billing, these contracts will often result in revenue recognized in excess of billings and billings in excess of costs incurred. At March 31, 2023, contract assets and liabilities totaled $128.2 million and $131.7 million, respectively. During the first six months of 2023, the Company recognized approximately $55 million in revenues that were included in the contract liabilities balance at September 30, 2022. At September 30, 2022, contract assets and liabilities totaled $125.2 million and $137.6 million, respectively.

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 https://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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration