XML 32 R12.htm IDEA: XBRL DOCUMENT
v3.24.1

Accounts Receivable and Significant Concentrations | 12 Months Ended
--- | ---
Dec. 31, 2023
Accounts Receivable and Significant Concentrations |
Accounts Receivable and Significant Concentrations | 4. Accounts Receivable and Significant Concentrations A significant portion of the Company’s revenue arrangements consist of firm fixed price contracts with agencies of the U.S. federal government and several large multinational publicly traded and private corporations. Accounts receivable consist of the following by customer type in the table below as of the periods presented:
|  | DECEMBER 31, |  |  | DECEMBER 31, |
|  | 2023 |  |  | 2022 |
U.S. Federal, State, and Local Government (1) |  | $ | 6,402,922 |  |  | $ | 7,272,993 |
Commercial (2) |  |  | 1,898,230 |  |  |  | 2,055,782 |
Gross accounts receivable |  |  | 8,301,152 |  |  |  | 9,328,775 |
Less: allowances for credit |  |  |  |  |  |  |  |
losses (3) |  |  | 81,359 |  |  |  | 51,666 |
Accounts receivable, net |  | $ | 8,219,793 |  |  | $ | 9,277,109 |
As of December 31, 2021, the Company had accounts receivable, net of $12.5 million. (1) Government contracts are generally firm fixed price not to exceed arrangements with a term of five (5) years, which consists of a base year and four (4) annual option year renewals. Government receivables are billed under a single consolidated monthly invoice and are billed approximately thirty (30) to sixty (60) days in arrears from the date of service and payment is generally due within thirty (30) days of the invoice date. Government accounts receivable payments could be delayed due to administrative processing delays by the government agency, continuing budget resolutions that may delay availability of contract funding, and/or administrative only invoice correction requests by contracting officers that may delay payment processing by our government customer. (2) Commercial contracts are generally fixed price arrangements with contract terms ranging from two (2) to three (3) years. Commercial accounts receivables are billed based on the underlying contract terms and conditions which generally have repayment terms that range from thirty (30) to ninety (90) days. Commercial receivables are stated at amounts due from customers net of an allowance for credit losses if deemed necessary. (3) During the year ended December 31, 2023 and 2022, the Company did not recognize any material provisions of recoveries of existing provision for credit losses. The Company has not historically maintained an allowance for credit losses for its government customers as it has not experienced material or recurring bad debt charges and the nature and size of the contracts has not necessitated the Company’s establishment of such an allowance for credit losses. Significant Concentrations The following table presents revenue by customer for each of the periods presented:
|  | YEARS ENDED |
|  | DECEMBER 31, |
Customer Type |  | 2023 |  |  | 2022 |
U.S. Federal Government (1) |  |  | 79.7 | % |  |  | 79.1 | %
U.S. State & Local and Foreign Governments |  |  | 0.6 | % |  |  | 0.6 | %
(1) Sales to the U.S. federal government include sales from contracts for which we are the prime contractor, as well as those for which we are a subcontractor and the ultimate customer is the U.S. government.

X
- Definition The entire disclosure for accounts receivable, contract receivable, receivable held-for-sale, and nontrade receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//326/tableOfContent + Details
Name: | us-gaap_AccountsAndNontradeReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration