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Revenue Recognition
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition REVENUE RECOGNITION
As described in Note 1, our operations are assessed based on two reportable segments.
Disaggregated Revenues
Revenues by geographic area and customer type were as follows:
 Three Months Ended March 31, 2024Three Months Ended March 31, 2023
Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal
 (In thousands)
United States:
Government$462,232 $— $462,232 $431,578 $— $431,578 
Non-Government21,610 16,795 38,405 23,692 11,278 34,970 
$483,842 $16,795 $500,637 $455,270 $11,278 $466,548 
Canada:
Government$2 $— $2 $51 $— $51 
Non-Government17 95,012 95,029 208 93,019 93,227 
$19 $95,012 $95,031 $259 $93,019 $93,278 
Other:
Government$1,026 $— $1,026 $1,148 $— $1,148 
Non-Government2,234 5,231 7,465 3,209 4,627 7,836 
$3,260 $5,231 $8,491 $4,357 $4,627 $8,984 
Segment Revenues$487,121 $117,038 604,159 $459,886 $108,924 568,810 
Eliminations(193)(450)
Revenues$603,966 $568,360 
Revenues by timing of transfer of goods or services were as follows:
 Three Months Ended March 31, 2024Three Months Ended March 31, 2023
Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal
 (In thousands)
Over time$484,288 $96,855 $581,143 $454,811 $95,952 $550,763 
Point-in-time2,833 20,183 23,016 5,075 12,972 18,047 
Segment Revenues$487,121 $117,038 604,159 $459,886 $108,924 568,810 
Eliminations(193)(450)
Revenues$603,966 $568,360 
Revenues by contract type were as follows:
 Three Months Ended March 31, 2024Three Months Ended March 31, 2023
Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal
 (In thousands)
Fixed-Price Incentive Fee$297,251 $5,522 $302,773 $292,159 $4,184 $296,343 
Firm-Fixed-Price94,920 67,205 162,125 94,718 71,552 166,270 
Cost-Plus Fee93,715 — 93,715 72,815 — 72,815 
Time-and-Materials1,235 44,311 45,546 194 33,188 33,382 
Segment Revenues$487,121 $117,038 604,159 $459,886 $108,924 568,810 
Eliminations(193)(450)
Revenues$603,966 $568,360 
Performance Obligations
As we progress on our contracts and the underlying performance obligations for which we recognize revenue over time, we refine our estimates of variable consideration and total estimated costs at completion, which impact the overall profitability on our contracts and performance obligations. Changes in these estimates result in the recognition of cumulative catch-up adjustments that impact our revenues and/or costs of contracts. The aggregate impact of changes in estimates decreased our revenue and operating income as follows:
Three Months Ended
March 31,
 20242023
 (In thousands)
Revenues (1)
$(693)$(7,833)
Operating Income (1)
$(1,271)$(7,833)
(1)During the three months ended March 31, 2024 and 2023, no adjustment to any one contract had a material impact on our consolidated financial statements.
Contract Assets and Liabilities
We include revenues and related costs incurred, plus accumulated contract costs that exceed amounts invoiced to customers under the terms of the contracts, in Contracts in progress. Costs specific to certain contracts for which we recognize revenue at a point in time are also included in Contracts in progress. We include in Advance billings on contracts billings that exceed accumulated contract costs and revenues recognized over time. Amounts that are withheld on our fixed-price incentive fee contracts are classified within Retainages. Certain of these amounts require conditions other than the passage of time to be achieved, with the remaining amounts only requiring the passage of time. Most long-term contracts contain provisions for progress payments. Our unbilled receivables do not contain an allowance for credit losses as we expect to invoice customers and collect all amounts for unbilled receivables. Changes in Contracts in progress and Advance billings on contracts are primarily driven by differences in the timing of revenue recognition and billings to our customers. Our fixed-price incentive fee contracts for our Government Operations segment include provisions that result in an increase in retainages on contracts during the first and third quarters of the year, with larger payments received during the second and fourth quarters. Retainages also vary as a result of timing differences between incurring costs and achieving milestones that allow us to recover these amounts.
 March 31,December 31,
 20242023
 (In thousands)
Included in Contracts in progress:
Unbilled receivables$532,092 $519,931 
Retainages$81,506 $55,181 
Advance billings on contracts$112,361 $107,391 
During the three months ended March 31, 2024 and 2023, we recognized $42.8 million and $39.5 million, respectively, of revenues that were in Advance billings on contracts at the beginning of each year.
Remaining Performance Obligations
Remaining performance obligations represent the dollar amount of revenue we expect to recognize in the future from performance obligations on contracts previously awarded and in progress. At March 31, 2024, our remaining performance obligations were $3,635.5 million. We expect to recognize approximately 80% of the revenue associated with our remaining performance obligations by the end of 2025, with the remainder to be recognized thereafter.