XML 23 R11.htm IDEA: XBRL DOCUMENT
v3.21.2

Revenue | 9 Months Ended
--- | ---
Sep. 30, 2021
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue Disaggregated Revenue Our revenues are derived from the delivery of products to our customers and from contract services performed for the DoD or federal civilian agencies. Our customers also include various other government agencies and commercial clients. A summary of revenues for our operating segments by customer for the three and nine months ended September 30, 2021 are as follows (in thousands):
|  | Three months ended September 30, 2021
|  | Aviation |  | Fleet |  | Federal and Defense |  | Total
Commercial |  | $ | 72,542 |  |  | $ | 20,690 |  |  | $ | 931 |  |  | $ | 94,163 |
DoD |  | — |  |  | 2,739 |  |  | 58,123 |  |  | 60,862 |
Other government |  | 582 |  |  | 36,839 |  |  | 8,136 |  |  | 45,557 |
|  | $ | 73,124 |  |  | $ | 60,268 |  |  | $ | 67,190 |  |  | $ | 200,582 |
|  | Nine months ended September 30, 2021
|  | Aviation |  | Fleet |  | Federal and Defense |  | Total
Commercial |  | $ | 164,353 |  |  | $ | 52,757 |  |  | $ | 1,434 |  |  | $ | 218,544 |
DoD |  | — |  |  | 10,517 |  |  | 162,984 |  |  | 173,501 |
Other government |  | 657 |  |  | 109,798 |  |  | 38,175 |  |  | 148,630 |
|  | $ | 165,010 |  |  | $ | 173,072 |  |  | $ | 202,593 |  |  | $ | 540,675 |
A summary of revenues for our operating segments by customer for the three and nine months ended September 30, 2020 are as follows (in thousands):
|  | Three months ended September 30, 2020
|  | Aviation |  | Fleet |  | Federal and Defense |  | Total
Commercial |  | $ | 36,075 |  |  | $ | 12,471 |  |  | $ | 428 |  |  | $ | 48,974 |
DoD |  | 104 |  |  | 7,275 |  |  | 49,556 |  |  | 56,935 |
Other government |  | 39 |  |  | 43,973 |  |  | 15,584 |  |  | 59,596 |
|  | $ | 36,218 |  |  | $ | 63,719 |  |  | $ | 65,568 |  |  | $ | 165,505 |
|  | Nine months ended September 30, 2020
|  | Aviation |  | Fleet |  | Federal and Defense |  | Total
Commercial |  | $ | 125,295 |  |  | $ | 29,818 |  |  | $ | 1,317 |  |  | $ | 156,430 |
DoD |  | 941 |  |  | 16,937 |  |  | 168,078 |  |  | 185,956 |
Other government |  | 283 |  |  | 141,390 |  |  | 27,579 |  |  | 169,252 |
|  | $ | 126,519 |  |  | $ | 188,145 |  |  | $ | 196,974 |  |  | $ | 511,638 |
A summary of revenues for our operating segments by type for the three and nine months ended September 30, 2021 is as follows (in thousands):
|  | Three months ended September 30, 2021
|  | Aviation |  | Fleet |  | Federal and Defense |  | Total
Repair |  | $ | 18,714 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,714 |
Distribution |  | 54,410 |  |  | 60,268 |  |  | — |  |  | 114,678 |
Cost Plus Contract |  | — |  |  | — |  |  | 26,775 |  |  | 26,775 |
Fixed Price Contract |  | — |  |  | — |  |  | 25,729 |  |  | 25,729 |
T&M Contract |  | — |  |  | — |  |  | 14,686 |  |  | 14,686 |
Total |  | $ | 73,124 |  |  | $ | 60,268 |  |  | $ | 67,190 |  |  | $ | 200,582 |
|  | Nine months ended September 30, 2021
|  | Aviation |  | Fleet |  | Federal and Defense |  | Total
Repair |  | $ | 56,051 |  |  | $ | — |  |  | $ | — |  |  | $ | 56,051 |
Distribution |  | 108,959 |  |  | 173,072 |  |  | — |  |  | 282,031 |
Cost Plus Contract |  | — |  |  | — |  |  | 65,139 |  |  | 65,139 |
Fixed Price Contract |  | — |  |  | — |  |  | 82,090 |  |  | 82,090 |
T&M Contract |  | — |  |  | — |  |  | 55,364 |  |  | 55,364 |
Total |  | $ | 165,010 |  |  | $ | 173,072 |  |  | $ | 202,593 |  |  | $ | 540,675 |
A summary of revenues for our operating segments by type for the three and nine months ended September 30, 2020 is as follows (in thousands):
|  | Three months ended September 30, 2020
|  | Aviation |  | Fleet |  | Federal and Defense |  | Total
Repair |  | $ | 17,280 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,280 |
Distribution |  | 18,938 |  |  | 63,719 |  |  | — |  |  | 82,657 |
Cost Plus Contract |  | — |  |  | — |  |  | 18,194 |  |  | 18,194 |
Fixed Price Contract |  | — |  |  | — |  |  | 32,937 |  |  | 32,937 |
T&M Contract |  | — |  |  | — |  |  | 14,437 |  |  | 14,437 |
Total |  | $ | 36,218 |  |  | $ | 63,719 |  |  | $ | 65,568 |  |  | $ | 165,505 |
|  | Nine months ended September 30, 2020
|  | Aviation |  | Fleet |  | Federal and Defense |  | Total
Repair |  | $ | 66,936 |  |  | $ | — |  |  | $ | — |  |  | $ | 66,936 |
Distribution |  | 59,583 |  |  | 188,145 |  |  | — |  |  | 247,728 |
Cost Plus Contract |  | — |  |  | — |  |  | 61,182 |  |  | 61,182 |
Fixed Price Contract |  | — |  |  | — |  |  | 107,932 |  |  | 107,932 |
T&M Contract |  | — |  |  | — |  |  | 27,860 |  |  | 27,860 |
Total |  | $ | 126,519 |  |  | $ | 188,145 |  |  | $ | 196,974 |  |  | $ | 511,638 |
Contract Balances Unbilled receivables (contract assets) represent our right to consideration in exchange for goods or services that we have transferred to the customer prior to us having the right to payment for such goods or services. Contract liabilities are recorded when customers remit contractual cash payments in advance of us satisfying related performance obligations under contractual arrangements, including those with performance obligations to be satisfied over a period of time. We present our unbilled receivables and contract liabilities on a contract-by-contract basis. If a contract liability exists, it is netted against the unbilled receivables balance for that contract. Unbilled receivables increased from $22.4 million as of December 31, 2020 to $30.8 million as of September 30, 2021, primarily due to the unbilled receivables acquired as a result of the HSS acquisition and revenues recognized as performance obligations are satisfied in excess of billings. Contract liabilities, which are included in accrued expenses and other current liabilities in our consolidated balance sheets, decreased from $10.1 million as of December 31, 2020 to $8.6 million as of September 30, 2021, primarily due to revenue recognized in excess of advance payments received. For the nine months ended September 30, 2021 and September 30, 2020, we recognized revenue that was previously included in the beginning balance of contract liabilities of $2.7 million and $2.0 million, respectively. Performance Obligations Our performance obligations are satisfied either at a point in time or over time as work progresses. The majority of our revenue recognized at a point in time is for the sale of vehicle and aircraft parts in our Fleet and Aviation segments. Revenues from products and services transferred to customers at a point in time accounted for approximately 57% of our revenues for the three and nine months ended September 30, 2021 and 50% of our revenues for the three and nine months ended September 30, 2020. Revenues from products and services transferred to customers over time accounted for approximately 43% of our revenues for the three and nine months ended September 30, 2021 and 50% of our revenues for the three and nine months ended September 30, 2020, primarily related to revenues in our Federal and Defense segment and MRO services in our Aviation segment. As of September 30, 2021, the aggregate amount of transaction prices allocated to unsatisfied or partially unsatisfied performance obligations was $218 million. Performance obligations expected to be satisfied within one year and greater than one year are 90% and 10%, respectively. We have applied the practical expedient for certain parts sales and MRO services to exclude the amount of remaining performance obligations for (i) contracts with an original expected term of one year or less or (ii) contracts for which we recognize revenue in proportion to the amount we have the right to invoice for services performed. During the nine months ended September 30, 2021 and September 30, 2020, revenue recognized from performance obligations satisfied in prior periods was not material.

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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration