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v3.21.2

Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2021
Segment Reporting Information [Line Items] |
Schedule of Segment Reporting Information, by Segment |
|  | Three Months Ended |  | Nine Months Ended |  |
|  | September 30, |  | September 30, |  |
|  | 2021 |  | 2020 |  | 2021 |  | 2020 |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 774.9 |  |  | $ | 615.8 |  |  | $ | 2,136.7 |  |  | $ | 1,860.7 |  |  |  |  |
Gross profit |  | 251.1 |  |  | 190.4 |  |  | 678.1 |  |  | 579.6 |  |  |  |  |
Operating income |  | 98.5 |  |  | 72.7 |  |  | 258.8 |  |  | 207.6 |  |  |  |  |
Depreciation |  | 3.5 |  |  | 3.7 |  |  | 10.4 |  |  | 10.9 |  |  |  |  |
Amortization |  | 7.3 |  |  | 5.7 |  |  | 18.6 |  |  | 16.5 |  |  |  |  |
Federal Government |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 298.9 |  |  | $ | 288.6 |  |  | $ | 819.0 |  |  | $ | 741.0 |  |  |  |  |
Gross profit |  | 57.6 |  |  | 45.9 |  |  | 150.6 |  |  | 126.8 |  |  |  |  |
Operating income |  | 23.3 |  |  | 16.7 |  |  | 56.8 |  |  | 44.3 |  |  |  |  |
Depreciation |  | 2.3 |  |  | 2.5 |  |  | 6.8 |  |  | 6.5 |  |  |  |  |
Amortization |  | 8.6 |  |  | 7.0 |  |  | 21.3 |  |  | 20.6 |  |  |  |  |
Consolidated |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 1,073.8 |  |  | $ | 904.4 |  |  | $ | 2,955.7 |  |  | $ | 2,601.7 |  |  |  |  |
Gross profit |  | 308.7 |  |  | 236.3 |  |  | 828.7 |  |  | 706.4 |  |  |  |  |
Operating income |  | 100.1 |  |  | 73.5 |  |  | 255.4 |  |  | 207.3 |  |  |  |  |
Depreciation |  | 7.1 |  |  | 7.5 |  |  | 21.7 |  |  | 20.7 |  |  |  |  |
Amortization |  | 15.9 |  |  | 12.7 |  |  | 39.9 |  |  | 37.1 |  |  |  |  |
___________________ Consolidated operating income includes corporate operating expenses, which are not allocated to the segments. These expenses include, among other things, stock-based compensation expense, compensation for corporate employees, acquisition, integration and strategic planning expenses and public company expenses. Consolidated depreciation includes depreciation expense for corporate assets.
Disaggregation of Revenue | Virtually all of the revenues from the Commercial Segment are generated from time-and-materials ("T&M") contracts where payments are based on fixed hourly rates for each direct labor hour expended and reimbursements for allowable material costs and out-of-pocket expenses. Revenues from the Federal Government Segment are generated from: (i) firm-fixed-price, (ii) T&M and (iii) cost reimbursable contracts. Virtually all of the Company's revenues are recognized over time. The following table presents revenues by segment and type (in millions).
|  | Three Months Ended |  | Nine Months Ended |  |
|  | September 30, |  | September 30, |  |
|  | 2021 |  | 2020 |  | 2021 |  | 2020 |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |
Assignment |  | $ | 587.3 |  |  | $ | 519.2 |  |  | $ | 1,687.2 |  |  | $ | 1,589.2 |  |  |  |  |
Consulting |  | 187.6 |  |  | 96.6 |  |  | 449.5 |  |  | 271.5 |  |  |  |  |
|  | 774.9 |  |  | 615.8 |  |  | 2,136.7 |  |  | 1,860.7 |  |  |  |  |
Federal Government |  |  |  |  |  |  |  |  |  |  |  |
Firm-fixed-price |  | 94.5 |  |  | 82.0 |  |  | 217.0 |  |  | 201.2 |  |  |  |  |
Time and materials |  | 106.0 |  |  | 80.8 |  |  | 296.9 |  |  | 234.6 |  |  |  |  |
Cost reimbursable |  | 98.4 |  |  | 125.8 |  |  | 305.1 |  |  | 305.2 |  |  |  |  |
|  | 298.9 |  |  | 288.6 |  |  | 819.0 |  |  | 741.0 |  |  |  |  |
Consolidated |  | $ | 1,073.8 |  |  | $ | 904.4 |  |  | $ | 2,955.7 |  |  | $ | 2,601.7 |  |  |  |  |
Revenue from External Customers by Products and Services | The following table presents the Federal Government Segment revenues by customer type (in millions).
|  | Three Months Ended |  | Nine Months Ended |  |
|  | September 30, |  | September 30, |  |
|  | 2021 |  | 2020 |  | 2021 |  | 2020 |  |  |  |
Department of Defense and Intelligence Agencies |  | $ | 166.0 |  |  | $ | 172.0 |  |  | $ | 450.8 |  |  | $ | 414.4 |  |  |  |  |
Federal Civilian |  | 112.1 |  |  | 96.2 |  |  | 303.5 |  |  | 276.1 |  |  |  |  |
Other |  | 20.8 |  |  | 20.4 |  |  | 64.7 |  |  | 50.5 |  |  |  |  |
|  | $ | 298.9 |  |  | $ | 288.6 |  |  | $ | 819.0 |  |  | $ | 741.0 |  |  |  |  |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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