Revenues (Tables)

6 Months Ended

Aug. 02, 2024

Revenue from Contract with Customer [Abstract]

Aggregate net changes in estimates on contracts accounted for using the cost-to-cost method of accounting were recognized in operating income as follows:


	Three Months Ended				Six Months Ended
	August 2, 2024		August 4, 2023		August 2, 2024		August 4, 2023
	(in millions, except per share amounts)
Net (unfavorable) favorable adjustments	$	(1)	$	(1)	$	—	$	4
Net (unfavorable) favorable adjustments, after tax	(1)		(1)		—		3
Diluted EPS impact	$	(0.02)	$	(0.02)	$	—	$	0.06

Disaggregated revenues by customer were as follows:


	Three Months Ended
	August 2, 2024						August 4, 2023
	Defense and Intelligence		Civilian		Total		Defense and Intelligence		Civilian		Total
	(in millions)
Department of Defense	$	950	$	—	$	950	$	917	$	2	$	919
Intelligence and other federal government agencies	455		369		824		469		359		828
Commercial, state and local governments and international	10		34		44		3		34		37
Total	$	1,415	$	403	$	1,818	$	1,389	$	395	$	1,784


	Six Months Ended
	August 2, 2024						August 4, 2023
	Defense and Intelligence		Civilian		Total		Defense and Intelligence		Civilian		Total
	(in millions)
Department of Defense	$	1,924	$	2	$	1,926	$	1,986	$	4	$	1,990
Intelligence and other federal government agencies	913		745		1,658		993		755		1,748
Commercial, state and local governments and international	14		67		81		7		67		74
Total	$	2,851	$	814	$	3,665	$	2,986	$	826	$	3,812

Disaggregated revenues by contract type were as follows:


	Three Months Ended
	August 2, 2024						August 4, 2023
	Defense and Intelligence		Civilian		Total		Defense and Intelligence		Civilian		Total
	(in millions)
Cost reimbursement	$	1,085	$	20	$	1,105	$	1,092	$	13	$	1,105
Time and materials ("T&M")	162		264		426		115		243		358
Firm-fixed price ("FFP")	168		119		287		182		139		321
Total	$	1,415	$	403	$	1,818	$	1,389	$	395	$	1,784


	Six Months Ended
	August 2, 2024						August 4, 2023
	Defense and Intelligence		Civilian		Total		Defense and Intelligence		Civilian		Total
	(in millions)
Cost reimbursement	$	2,219	$	41	$	2,260	$	2,183	$	34	$	2,217
Time and materials ("T&M")	311		532		843		229		496		725
Firm-fixed price ("FFP")	321		241		562		574		296		870
Total	$	2,851	$	814	$	3,665	$	2,986	$	826	$	3,812

Disaggregated revenues by prime versus subcontractor were as follows:


	Three Months Ended
	August 2, 2024						August 4, 2023
	Defense and Intelligence		Civilian		Total		Defense and Intelligence		Civilian		Total
	(in millions)
Prime contractor to federal government	$	1,283	$	335	$	1,618	$	1,261	$	330	$	1,591
Subcontractor to federal government	122		34		156		125		31		156
Other	10		34		44		3		34		37
Total	$	1,415	$	403	$	1,818	$	1,389	$	395	$	1,784


	Six Months Ended
	August 2, 2024						August 4, 2023
	Defense and Intelligence		Civilian		Total		Defense and Intelligence		Civilian		Total
	(in millions)
Prime contractor to federal government	$	2,592	$	677	$	3,269	$	2,750	$	696	$	3,446
Subcontractor to federal government	245		70		315		229		63		292
Other	14		67		81		7		67		74
Total	$	2,851	$	814	$	3,665	$	2,986	$	826	$	3,812

Contract Related Assets and Liabilities

Contract balances for the periods presented were as follows:


	Balance Sheet line item	August 2, 2024		February 2, 2024
		(in millions)
Billed and billable receivables, net(1)	Receivables, net	$	574	$	555
Contract assets - unbillable receivables	Receivables, net	372		359
Contract assets - contract retentions	Other assets	15		14
Contract liabilities - current	Other accrued liabilities	23		53
Contract liabilities - non-current	Other long-term liabilities	$	1	$	2

(1) Net of allowance of $3 million as of August 2, 2024 and February 2, 2024.