Revenues

12 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Disaggregation of Revenues

The Company disaggregates revenues by contract type, customer type, prime vs. subcontractor, and whether the solution provided is primarily Expertise or Technology. These categories represent how the nature, amount, timing, and uncertainty of revenues and cash flows are affected.

Disaggregated revenues by contract type were as follows (in thousands):

	Year Ended June 30, 2024						Year Ended June 30, 2023						Year Ended June 30, 2022
	Domestic		International		Total		Domestic		International		Total		Domestic		International		Total
Cost-plus-fee	$	4,654,689	$	—	$	4,654,689	$	3,896,725	$	—	$	3,896,725	$	3,632,359	$	—	$	3,632,359
Fixed-price	1,950,286		140,893		2,091,179		1,888,414		135,554		2,023,968		1,690,480		132,741		1,823,221
Time-and-materials	827,770		86,194		913,964		727,799		54,054		781,853		688,220		59,117		747,337
Total	$	7,432,745	$	227,087	$	7,659,832	$	6,512,938	$	189,608	$	6,702,546	$	6,011,059	$	191,858	$	6,202,917

Disaggregated revenues by customer type were as follows (in thousands):

	Year Ended June 30, 2024						Year Ended June 30, 2023						Year Ended June 30, 2022
	Domestic		International		Total		Domestic		International		Total		Domestic		International		Total
Department of Defense	$	5,695,408	$	—	$	5,695,408	$	4,817,470	$	—	$	4,817,470	$	4,331,327	$	—	$	4,331,327
Federal civilian agencies	1,588,262		—		1,588,262		1,533,295		—		1,533,295		1,549,791		—		1,549,791
Commercial and other	149,075		227,087		376,162		162,173		189,608		351,781		129,941		191,858		321,799
Total	$	7,432,745	$	227,087	$	7,659,832	$	6,512,938	$	189,608	$	6,702,546	$	6,011,059	$	191,858	$	6,202,917

Disaggregated revenues by prime vs. subcontractor were as follows (in thousands):

	Year Ended June 30, 2024						Year Ended June 30, 2023						Year Ended June 30, 2022
	Domestic		International		Total		Domestic		International		Total		Domestic		International		Total
Prime contractor	$	6,649,114	$	200,735	$	6,849,849	$	5,801,840	$	171,860	$	5,973,700	$	5,389,870	$	175,052	$	5,564,922
Subcontractor	783,631		26,352		809,983		711,098		17,748		728,846		621,189		16,806		637,995
Total	$	7,432,745	$	227,087	$	7,659,832	$	6,512,938	$	189,608	$	6,702,546	$	6,011,059	$	191,858	$	6,202,917

Disaggregated revenues by Expertise or Technology were as follows (in thousands):

	Year Ended June 30, 2024						Year Ended June 30, 2023						Year Ended June 30, 2022
	Domestic		International		Total		Domestic		International		Total		Domestic		International		Total
Expertise	$	3,473,434	$	83,555	$	3,556,989	$	3,021,621	$	69,751	$	3,091,372	$	2,796,038	$	73,279	$	2,869,317
Technology	3,959,311		143,532		4,102,843		3,491,317		119,857		3,611,174		3,215,021		118,579		3,333,600
Total	$	7,432,745	$	227,087	$	7,659,832	$	6,512,938	$	189,608	$	6,702,546	$	6,011,059	$	191,858	$	6,202,917

Changes in Estimates

Aggregate net changes in estimates reflected an increase to income before income taxes of $25.0 million ($0.83 per diluted share), an increase of $23.4 million ($0.74 per diluted share), and an increase of $29.8 million ($0.93 per diluted share) during fiscal 2024, 2023, and 2022, respectively. The Company uses its statutory tax rate when calculating the impact to diluted earnings per share.

Revenues recognized from previously satisfied performance obligations were $0.7 million for fiscal 2024, $1.7 million for fiscal 2023, and nominal for fiscal 2022. The change in revenues generally relates to final true-up adjustments for estimated award or incentive fees in the period in which the customer’s final performance score was received or when it can be determined that more objective, contractually-defined criteria have been fully satisfied.

Remaining Performance Obligations

As of June 30, 2024, the Company had $10.3 billion of remaining performance obligations and expects to recognize approximately 47% and 69% over the next 12 and 24 months, respectively, with the remainder to be recognized thereafter.

Contract Balances

Contract balances consisted of the following (in thousands):

Description of Contract Related Balance	Financial Statement Classification	June 30, 2024		June 30, 2023
Billed and billable receivables	Accounts receivable, net	$	885,552	$	763,547
Contract assets – current unbilled receivables	Accounts receivable, net	145,759		131,399
Contract assets – current costs to obtain	Prepaid expenses and other current assets	6,142		5,163
Contract assets – noncurrent unbilled receivables	Accounts receivable, long-term	13,311		11,857
Contract assets – noncurrent costs to obtain	Other long-term assets	12,310		8,294
Contract liabilities – current deferred revenue and other contract liabilities	Other accrued expenses and current liabilities	(139,745)		(138,469)
Contract liabilities – noncurrent deferred revenue and other contract liabilities	Other long-term liabilities	(4,607)		(5,522)

During fiscal 2024 and 2023, respectively, we recognized $127.8 million and $84.8 million of revenue that was included in a previously recorded contract liability as of the beginning of the period.