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Revenue Recognition | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Revenue Recognition Disaggregated Revenue Our revenues are derived from the delivery of products and services performed for commercial and government customers. A summary of revenues by customer for each of our operating segments is as follows (in thousands):
Year Ended December 31, 2024 | Aviation |  | Fleet |  | Total
Commercial | $ | 779,008 |  |  | $ | 178,509 |  |  | $ | 957,517 |
Other government | 7,248 |  |  | 115,367 |  |  | 122,615 |
Total | $ | 786,256 |  |  | $ | 293,876 |  |  | $ | 1,080,132 |
Year Ended December 31, 2023 |  |  |  |  |
Commercial | $ | 539,592 |  |  | $ | 150,835 |  |  | $ | 690,427 |
DoD | — |  |  | 209 |  |  | 209 |
Other government | 4,428 |  |  | 165,424 |  |  | 169,852 |
Total | $ | 544,020 |  |  | $ | 316,468 |  |  | $ | 860,488 |
Year Ended December 31, 2022 |  |  |  |  |
Commercial | $ | 403,155 |  |  | $ | 104,162 |  |  | $ | 507,317 |
DoD | — |  |  | 3,286 |  |  | 3,286 |
Other government | 4,957 |  |  | 153,888 |  |  | 158,845 |
Total | $ | 408,112 |  |  | $ | 261,336 |  |  | $ | 669,448 |
A summary of revenues by type for each of our operating segments is as follows (in thousands):
Year Ended December 31, 2024 | Aviation |  | Fleet |  | Total
Repair | $ | 293,063 |  |  | $ | — |  |  | $ | 293,063 |
Distribution | 493,193 |  |  | 293,876 |  |  | 787,069 |
Total | $ | 786,256 |  |  | $ | 293,876 |  |  | $ | 1,080,132 |
Year Ended December 31, 2023 |  |  |  |  |
Repair | $ | 157,154 |  |  | $ | — |  |  | $ | 157,154 |
Distribution | 386,866 |  |  | 316,468 |  |  | 703,334 |
Total | $ | 544,020 |  |  | $ | 316,468 |  |  | $ | 860,488 |
Year Ended December 31, 2022 |  |  |  |  |
Repair | $ | 107,399 |  |  | $ | — |  |  | $ | 107,399 |
Distribution | 300,713 |  |  | 261,336 |  |  | 562,049 |
Total | $ | 408,112 |  |  | $ | 261,336 |  |  | $ | 669,448 |
Contract Balances Contract balances were as follows (in thousands):
|  |  |  | As of December 31,
|  | Financial Statement Classification |  | 2024 |  | 2023
Billed and billable receivables |  | Receivables, net (a) |  | $ | 197,563 |  |  | $ | 127,958 |
Contract assets - unbilled receivables |  | Contract assets |  | $ | 29,960 |  |  | $ | 8,049 |
Contract liabilities |  | Accrued expenses and other current liabilities |  | $ | 4,479 |  |  | $ | 2,785 |
(a) Net of allowance of $6.5 million and $3.4 million as of December 31, 2024 and 2023, respectively. |  |  |  |
The increase in contract assets during fiscal 2024 is primarily in connection with the acquisition of TCI during the current period. Refer to Note (2) "Acquisitions" for further information. During fiscal 2024 and 2023, respectively, we recognized $2.1 million and $0.9 million of revenue that was previously included in the beginning balance of contract liabilities.

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- 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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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