v3.25.4
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Disaggregated Revenues
We allocate geographic revenues based on the location of the customers' operations. Revenues by geographic area and customer type were as follows:
 Year Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal
 (In thousands)
United States:
Government$2,199,677 $321 $2,199,998 $2,068,239 $— $2,068,239 $1,884,671 $— $1,884,671 
Non-Government123,931 107,395 231,326 86,012 75,954 161,966 123,604 57,654 181,258 
$2,323,608 $107,716 $2,431,324 $2,154,251 $75,954 $2,230,205 $2,008,275 $57,654 $2,065,929 
Canada:
Government$3,619 $— $3,619 $127 $— $127 $245 $— $245 
Non-Government126 684,864 684,990 747 430,385 431,132 778 389,234 390,012 
$3,745 $684,864 $688,609 $874 $430,385 $431,259 $1,023 $389,234 $390,257 
Other:
Government$15,731 $— $15,731 $12,165 $— $12,165 $10,016 $— $10,016 
Non-Government7,006 60,490 67,496 15,750 17,633 33,383 12,023 19,456 31,479 
$22,737 $60,490 $83,227 $27,915 $17,633 $45,548 $22,039 $19,456 $41,495 
Segment Revenues$2,350,090 $853,070 3,203,160 $2,183,040 $523,972 2,707,012 $2,031,337 $466,344 2,497,681 
Eliminations(4,735)(3,358)(1,372)
Revenues$3,198,425 $2,703,654 $2,496,309 
Revenues by timing of transfer of goods or services were as follows:
 Year Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal
 (In thousands)
Over time$2,337,024 $721,089 $3,058,113 $2,175,010 $439,504 $2,614,514 $2,012,949 $392,060 $2,405,009 
Point-in-time13,066 131,981 145,047 8,030 84,468 92,498 18,388 74,284 92,672 
Segment Revenues$2,350,090 $853,070 3,203,160 $2,183,040 $523,972 2,707,012 $2,031,337 $466,344 2,497,681 
Eliminations(4,735)(3,358)(1,372)
Revenues$3,198,425 $2,703,654 $2,496,309 
Revenues by contract type were as follows:
 Year Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal
 (In thousands)
Fixed-Price Incentive Fee$894,366 $10,334 $904,700 $1,173,728 $17,379 $1,191,107 $1,218,516 $11,119 $1,229,635 
Firm-Fixed-Price1,042,344 539,702 1,582,046 590,884 315,061 905,945 469,138 312,236 781,374 
Cost-Plus Fee412,701 7,817 420,518 388,116 — 388,116 337,598 — 337,598 
Time-and-Materials679 295,217 295,896 30,312 191,532 221,844 6,085 142,989 149,074 
Segment Revenues$2,350,090 $853,070 3,203,160 $2,183,040 $523,972 2,707,012 $2,031,337 $466,344 2,497,681 
Eliminations(4,735)(3,358)(1,372)
Revenues$3,198,425 $2,703,654 $2,496,309 
Revenue, Performance Obligation, Impact of Changes in Estimates The aggregate impact of changes in estimates increased our revenue and operating income as follows:
 Year Ended December 31,
 202520242023
 (In thousands)
Revenues$5,544 $37,908 $24,728 
Operating Income (1)
$4,318 $36,770 $24,813 
(1)During the year ended December 31, 2025, our Government Operations segment results were favorably impacted by material contract adjustments related to a nuclear operations contract. The material adjustments resulted in an increase in revenue and operating income of $29.4 million during the year ended December 31, 2025.
During the year ended December 31, 2024, no adjustments to any one contract had a material impact on our consolidated financial statements.
During the year ended December 31, 2023, our Government Operations segment results were favorably impacted by contract adjustments related to a nuclear operations contract which resulted in an increase in operating income of $22.5 million. Our Government Operations segment also recognized favorable adjustments totaling $27.9 million as a result of the successful negotiation of change orders related to cost growth that was driven by out-of-scope changes associated with the manufacture of non-nuclear components.
Contract with Customer, Asset and Liability Retainages also vary as a result of timing differences between incurring costs and achieving milestones that allow us to recover these amounts.
 December 31,December 31,
 20252024
 (In thousands)
Included in Contracts in progress:
Unbilled receivables$594,749 $559,415 
Retainages$46,311 $33,667 
Advance billings on contracts$305,285 $161,290