XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.23.1

Revenue | 3 Months Ended
--- | ---
Mar. 31, 2023
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue Disaggregation of Revenues Our revenues are derived from the delivery of products to our customers and from services performed for commercial customers, the United States Department of Defense ("DoD"), and various other government agencies. A summary of revenues by customer for our each of our operating segments for the three months ended March 31, 2023 and 2022 is as follows (in thousands):
|  | Three months ended March 31, 2023
|  | Aviation |  | Fleet |  | Federal and Defense |  | Total
Commercial |  | $ | 112,060 |  |  | $ | 32,544 |  |  | $ | 154 |  |  | $ | 144,758 |
DoD |  | — |  |  | — |  |  | 54,579 |  |  | 54,579 |
Other government |  | 1,175 |  |  | 42,808 |  |  | 12,113 |  |  | 56,096 |
Total |  | $ | 113,235 |  |  | $ | 75,352 |  |  | $ | 66,846 |  |  | $ | 255,433 |
|  | Three months ended March 31, 2022
|  | Aviation |  | Fleet |  | Federal and Defense |  | Total
Commercial |  | $ | 91,912 |  |  | $ | 27,856 |  |  | $ | 92 |  |  | $ | 119,860 |
DoD |  | — |  |  | 1,729 |  |  | 50,395 |  |  | 52,124 |
Other government |  | 1,378 |  |  | 37,445 |  |  | 20,432 |  |  | 59,255 |
Total |  | $ | 93,290 |  |  | $ | 67,030 |  |  | $ | 70,919 |  |  | $ | 231,239 |
A summary of revenues by type for our each of our operating segments for the three months ended March 31, 2023 and 2022 is as follows (in thousands):
|  | Three months ended March 31, 2023
|  | Aviation |  | Fleet |  | Federal and Defense |  | Total
Repair |  | $ | 32,054 |  |  | $ | — |  |  | $ | — |  |  | $ | 32,054 |
Distribution |  | 81,181 |  |  | 75,352 |  |  | — |  |  | 156,533 |
Cost Plus Contract |  | — |  |  | — |  |  | 33,901 |  |  | 33,901 |
Fixed Price Contract |  | — |  |  | — |  |  | 24,682 |  |  | 24,682 |
T&M Contract |  | — |  |  | — |  |  | 8,263 |  |  | 8,263 |
Total |  | $ | 113,235 |  |  | $ | 75,352 |  |  | $ | 66,846 |  |  | $ | 255,433 |
|  | Three months ended March 31, 2022
|  | Aviation |  | Fleet |  | Federal and Defense(1) |  | Total
Repair |  | $ | 22,363 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,363 |
Distribution |  | 70,927 |  |  | 67,030 |  |  | — |  |  | 137,957 |
Cost Plus Contract |  | — |  |  | — |  |  | 30,577 |  |  | 30,577 |
Fixed Price Contract |  | — |  |  | — |  |  | 24,482 |  |  | 24,482 |
T&M Contract |  | — |  |  | — |  |  | 15,860 |  |  | 15,860 |
Total |  | $ | 93,290 |  |  | $ | 67,030 |  |  | $ | 70,919 |  |  | $ | 231,239 |
(1) In the fourth quarter of fiscal 2022, we reclassified revenues associated with a certain program within our Federal and Defense Segment from T&M to Fixed Price contract type. Prior year amounts have been reclassified to conform with current year presentation.
Contract Balances Contract balances were as follows (in thousands):
|  |  |  | March 31, |  | December 31,
|  | Financial Statement Classification |  | 2023 |  | 2022
Contract assets |  | Unbilled receivables |  | 35,884 |  |  | 38,307 |
Contract liabilities |  | Accrued expenses and other current liabilities |  | 7,953 |  |  | 6,402 |
For the three months ended March 31, 2023 and 2022, we recognized revenue that was previously included in the beginning balance of contract liabilities of $1.4 million and $2.1 million, respectively. Performance Obligations As of March 31, 2023, the aggregate amount of transaction prices allocated to unsatisfied or partially unsatisfied performance obligations was $185 million. The performance obligations expected to be satisfied within one year and greater than one year are 94% and 6%, 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 three months ended March 31, 2023 and 2022, 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 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