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Revenue
9 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Remaining Performance Obligations
We had $680.0 million of remaining performance obligations yet to be satisfied as of March 31, 2024. We expect to recognize $431.9 million of our remaining performance obligations as revenue within the next twelve months.
Contract Balances
Contract terms with customers include the timing of billing and payments, which usually differs from the timing of revenue recognition. As a result, we carry contract assets and liabilities in our balance sheet. These contract assets and liabilities are calculated on a contract-by-contract basis and are classified as current. We present our contract assets in the balance sheet as Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts ("CIE"). CIE consists of revenue recognized in excess of billings. We present our contract liabilities in the balance sheet as Billings on Uncompleted Contracts in Excess of Costs and Estimated Earnings ("BIE"). BIE consists of billings in excess of revenue recognized. The following table provides information about CIE and BIE:
March 31,
2024
June 30,
2023
Change
 (In thousands)
Costs and estimated earnings in excess of billings on uncompleted contracts$34,600 $44,888 $(10,288)
Billings on uncompleted contracts in excess of costs and estimated earnings(167,657)(85,436)(82,221)
Net contract liabilities$(133,057)$(40,548)$(92,509)
The difference between the beginning and ending balances of our CIE and BIE primarily results from the timing of revenue recognized relative to the billings on the associated contract. The amount of revenue recognized during the nine months ended March 31, 2024 that was included in the June 30, 2023 BIE balance was $84.7 million.
Progress billings in accounts receivable at March 31, 2024 and June 30, 2023 included retentions to be collected within one year of $12.7 million and $16.3 million, respectively. Contract retentions collectible beyond one year are included in other assets, non-current in the Condensed Consolidated Balance Sheets and totaled $25.9 million as of March 31, 2024 and $10.0 million as of June 30, 2023.
Unpriced Change Orders and Claims
Costs and estimated earnings in excess of billings on uncompleted contracts included revenues for unpriced change orders and claims of $12.0 million at March 31, 2024 and $9.7 million at June 30, 2023. The amounts ultimately realized may be significantly different than the recorded amounts resulting in a material adjustment to future earnings. The determination of our legal basis for a claim requires significant judgment. Generally, collection of amounts related to unpriced change orders and claims is expected within twelve months. However, since customers may not pay these amounts until final resolution of related claims, collection of these amounts may extend beyond one year.
Disaggregated Revenue
Revenue disaggregated by reportable segment is presented in Note 9 - Segment Information. The following tables presents revenue disaggregated by geographic area where the work was performed and by contract type:
Geographic Disaggregation:
 Three Months EndedNine Months Ended
 March 31,
2024
March 31,
2023
March 31,
2024
March 31,
2023
 (In thousands)
United States$153,181 $178,261 $487,140 $524,731 
Canada11,998 6,932 43,419 52,742 
Other international834 1,702 8,155 11,693 
Total Revenue$166,013 $186,895 $538,714 $589,166 

Contract Type Disaggregation:                                                                
 Three Months EndedNine Months Ended
 March 31,
2024
March 31,
2023
March 31,
2024
March 31,
2023
 (In thousands)
Fixed-price contracts$90,878 $96,755 $305,346 $311,511 
Time and materials and other cost reimbursable contracts75,135 90,140 233,368 277,655 
Total Revenue$166,013 $186,895 $538,714 $589,166 
Revisions in Estimates
During fiscal 2023, unfavorable changes in the estimated recovery of change orders and increased forecasted costs to complete and closeout certain midstream gas processing construction work in the Process and Industrial Facilities segment resulted in a reduction of gross profit of $3.3 million and $12.7 million during the three and nine months ended March 31, 2023, respectively. This was primarily the result of the client not approving adequate compensation to us for the impact that excessive scope changes had on our ability to progress the work according to forecast and for the impacts of global supply chain issues and inflation.