0000320121-18-000026.txt : 20181114 0000320121-18-000026.hdr.sgml : 20181114 20181114135922 ACCESSION NUMBER: 0000320121-18-000026 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 46 CONFORMED PERIOD OF REPORT: 20180930 FILED AS OF DATE: 20181114 DATE AS OF CHANGE: 20181114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TELOS CORP CENTRAL INDEX KEY: 0000320121 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 520880974 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-08443 FILM NUMBER: 181182521 BUSINESS ADDRESS: STREET 1: 19886 ASHBURN ROAD CITY: ASHBURN STATE: VA ZIP: 20147 BUSINESS PHONE: 7034716000 MAIL ADDRESS: STREET 1: 19886 ASHBURN ROAD CITY: ASHBURN STATE: VA ZIP: 20147 FORMER COMPANY: FORMER CONFORMED NAME: C3 INC DATE OF NAME CHANGE: 19920703 10-Q 1 form10q.htm  
 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________
FORM 10-Q
 
☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
For the quarterly period ended: September 30, 2018
 
☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Commission file number: 001-08443
 
TELOS CORPORATION
(Exact name of registrant as specified in its charter)
 
Maryland
 
52-0880974
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)
 
19886 Ashburn Road, Ashburn, Virginia
 
20147-2358
(Address of principal executive offices)
 
(Zip Code)
 
(703) 724-3800
(Registrant's telephone number, including area code)

N/A
(Former name, former address and former fiscal year, if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes ☒    No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes ☒      No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer    ☐
Accelerated filer                        
☐
Non-accelerated filer      ☒  (Do not check if a smaller reporting company) 
Smaller reporting company 
☐
 
Emerging growth company
☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act):    Yes ☐    No ☒

As of November 7, 2018, the registrant had outstanding 45,168,461 shares of Class A Common Stock, no par value; and 4,037,628 shares of Class B Common Stock, no par value.  
 
1
TELOS CORPORATION AND SUBSIDIARIES
 
INDEX
 
PART I - FINANCIAL INFORMATION
 
 

   
Page
Item 1.
  
 
3
 
4
 
5-6
 
7
 
8
 
9-30
Item 2.
31-44
Item 3.
44
Item 4.
44
 
PART II -  OTHER INFORMATION
  
Item 1.
45
Item 1A.
45
Item 2.
45
Item 3.
45
Item 4.
45
Item 5.
45
Item 6.
46
47


 
PART I – FINANCIAL INFORMATION

Item 1.  Financial Statements

TELOS CORPORATION AND SUBSIDIARIES  
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(amounts in thousands)

   
Three Months Ended September 30,
    
Nine Months Ended September 30,
  
   
2018
    
2017
    
2018
    
2017
  
Revenue
                        
Services
  
$
32,067
    
$
19,149
    
$
91,739
    
$
57,246
  
Products
    
2,628
      
9,094
      
10,300
      
15,204
  
     
34,695
      
28,243
      
102,039
      
72,450
  
Costs and expenses
                                
Cost of sales - Services
    
17,143
      
12,206
      
59,119
      
37,219
  
Cost of sales - Products
    
1,265
      
6,775
      
4,323
      
10,134
  
     
18,408
      
18,981
      
63,442
      
47,353
  
       Selling, general and administrative expenses
    
9,851
      
9,296
      
30,027
      
27,684
  
Operating income (loss)
    
6,436
      
(34
)
    
8,570
      
(2,587
)
Other income (expense)
                                
       Other income
    
3
      
1
      
10
      
7
  
       Interest expense
    
(1,717
)
    
(1,722
)
    
(5,101
)
    
(4,993
)
Income (loss) before income taxes
    
4,722
      
(1,755
)
    
3,479
      
(7,573
)
Benefit (provision) for income taxes (Note 7)
    
106
      
(211
)
    
41
      
(529
)
Net income (loss)
    
4,828
      
(1,966
)
    
3,520
      
(8,102
)
Less:  Net income attributable to non-controlling interest (Note 2)
    
(715
)
    
(1,078
)
    
(1,480
)
    
(1,430
)
Net income (loss) attributable to Telos Corporation
  
$
4,113
    
$
(3,044
)
  
$
2,040
    
$
(9,532
)


The accompanying notes are an integral part of these condensed consolidated financial statements.

TELOS CORPORATION AND SUBSIDIARIES  
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Unaudited)
(amounts in thousands)




   
Three Months Ended September 30,
    
Nine Months Ended September 30,
  
   
2018
    
2017
    
2018
    
2017
  
                         
Net income (loss)
  
$
4,828
    
$
(1,966
)
  
$
3,520
    
$
(8,102
)
Other comprehensive (loss) income:
                                
Foreign currency translation adjustments
    
(2
)
    
6
      
(9
)
    
7
  
Total other comprehensive (loss) income, net of tax
    
(2
)
    
6
      
(9
)
    
7
  
Less: Comprehensive income attributable to non-controlling interest
    
(715
)
    
(1,078
)
    
(1,480
)
    
(1,430
)
Comprehensive income (loss) attributable to Telos Corporation
  
$
4,111
    
$
(3,038
)
  
$
2,031
    
$
(9,525
)


The accompanying notes are an integral part of these condensed consolidated financial statements.


TELOS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(amounts in thousands)

   
September 30, 2018
    
December 31, 2017
  
   
(Unaudited)
        
ASSETS
            
Current assets
            
Cash and cash equivalents
  
$
415
    
$
600
  
Accounts receivable, net of reserve of $300 and $411, respectively (Note 1)
    
26,262
      
24,520
  
Inventories, net of obsolescence reserve of $916 and $1,484, respectively (Note 1)
    
8,776
      
13,520
  
Deferred program expenses
    
290
      
2,071
  
Other current assets
    
2,330
      
1,439
  
Total current assets
    
38,073
      
42,150
  
Property and equipment, net of accumulated depreciation of $27,906 and $25,841, respectively
    
17,024
      
16,344
  
Goodwill (Note 3)
    
14,916
      
14,916
  
Other assets
    
961
      
1,011
  
Total assets
  
$
70,974
    
$
74,421
  

The accompanying notes are an integral part of these condensed consolidated financial statements.


TELOS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(amounts in thousands)

   
September 30, 2018
    
December 31, 2017
  
   
(Unaudited)
        
LIABILITIES, REDEEMABLE PREFERRED STOCK, AND STOCKHOLDERS' DEFICIT
            
Current liabilities
            
Accounts payable and other accrued payables (Note 5)
  
$
19,885
    
$
25,693
  
Accrued compensation and benefits
    
6,713
      
7,456
  
Contract liabilities (Note 1 and 5)
    
4,464
      
10,073
  
Capital lease obligations – short-term
    
1,089
      
1,013
  
Other current liabilities
    
1,909
      
1,990
  
Total current liabilities
    
34,060
      
46,225
  
                 
Senior term loan, net of unamortized discount and issuance costs (Note 5)
    
10,931
      
10,786
  
Subordinated debt (Note 5)
    
2,518
      
2,289
  
Capital lease obligations
    
17,154
      
17,980
  
Deferred income taxes (Note 7)
    
779
      
741
  
Public preferred stock (Note 6)
    
134,432
      
131,565
  
Other liabilities (Note 7)
    
883
      
872
  
Total liabilities
    
200,757
      
210,458
  
                 
Commitments and contingencies (Note 8)
    
--
      
--
  
                 
Stockholders' deficit
                
Telos stockholders' deficit
                
Common stock
    
78
      
78
  
Additional paid-in capital
    
4,310
      
4,310
  
Accumulated other comprehensive income
    
23
      
32
  
Accumulated deficit
    
(135,449
)
    
(141,370
)
Total Telos stockholders' deficit
    
(131,038
)
    
(136,950
)
Non-controlling interest in subsidiary (Note 2)
    
1,255
      
913
  
Total stockholders' deficit
    
(129,783
)
    
(136,037
)
Total liabilities, redeemable preferred stock, and stockholders' deficit
  
$
70,974
    
$
74,421
  

The accompanying notes are an integral part of these condensed consolidated financial statements.


TELOS CORPORATION AND SUBSIDIARIES 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(amounts in thousands)
 
 
  
Nine Months Ended September 30,
  
   
2018
    
2017
  
Operating activities:
            
Net income (loss)
  
$
3,520
    
$
(8,102
)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
                
Dividends of preferred stock as interest expense
    
2,867
      
2,887
  
Depreciation and amortization
    
2,148
      
1,414
  
Amortization of debt issuance costs
    
145
      
115
  
Deferred income tax provision
    
38
      
189
  
Other noncash items
    
216
      
(2
)
Changes in other operating assets and liabilities
    
(4,399
)
    
575
  
Cash provided by (used in) operating activities
    
4,535
      
(2,924
)
 
                
Investing activities:
                
Capitalized software development costs
    
(1,319
)
    
(1,111
)
Purchases of property and equipment
    
(1,513
)
    
(445
)
Cash used in investing activities
    
(2,832
)
    
(1,556
)
 
                
Financing activities:
                
Proceeds from senior term loan
    
--
      
9,439
  
Redemption of senior preferred stock
    
--
      
(2,112
)
Payments under capital lease obligations
    
(750
)
    
(680
)
Distributions to Telos ID Class B member - non-controlling interest
    
(1,138
)
    
(2,573
)
Cash (used in) provided by financing activities
    
(1,888
)
    
4,074
  
                 
Decrease in cash and cash equivalents
    
(185
)
    
(406
)
Cash and cash equivalents, beginning of period
    
600
      
659
  
                 
Cash and cash equivalents, end of period
  
$
415
    
$
253
  
                 
Supplemental disclosures of cash flow information:
                
 Cash paid during the period for:
                
Interest
  
$
1,860
    
$
1,773
  
Income taxes
  
$
19
    
$
25
  
                 
Noncash:
                
Dividends of preferred stock as interest expense
  
$
2,867
    
$
2,887
  
Debt issuance costs and prepayment of interest on senior term loan
  
$
--
    
$
1,561
  
Gain on extinguishment of subordinated debt
  
$
--
    
$
1,031
  
 
The accompanying notes are an integral part of these condensed consolidated financial statements.

TELOS CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT
(Unaudited)
(amounts in thousands)

   
Telos Corporation
              
   
Common
Stock
    
Additional  Paid-in
Capital
    
Accumulated
Other Comprehensive Income
    
Accumulated
Deficit
    
Non-Controlling Interest
    
Total
Stockholders'
Deficit
  
For the Three Months Ended September 30, 2018
  
 
Beginning balance
  
$
78
    
$
4,310
    
$
25
    
$
(139,562
)
  
$
773
    
$
(134,376
)
Net income
    
--
      
--
      
--
      
4,113
      
715
      
4,828
  
Foreign currency translation loss
    
--
      
--
      
(2
)
    
--
      
--
      
(2
)
Distributions
    
--
      
--
      
--
      
--
      
(233
)
    
(233
)
 
Ending balance
  
$
78
    
$
4,310
    
$
23
    
$
(135,449
)
  
$
1,255
    
$
(129,783
)
For the Three Months Ended September 30, 2017
  
 
Beginning balance
  
$
78
    
$
4,283
    
$
26
    
$
(142,025
)
  
$
235
    
$
(137,403
)
Net (loss) income
    
--
      
--
      
--
      
(3,044
)
    
1,078
      
(1,966
)
Gain on extinguishment of subordinated debt
    
--
      
27
      
--
      
--
      
--
      
27
  
Foreign currency translation gain
    
--
      
--
      
6
      
--
      
--
      
6
  
Distributions
    
--
      
--
      
--
      
--
      
(227
)
    
(227
)
 
Ending balance
  
$
78
    
$
4,310
    
$
32
    
$
(145,069
)
  
$
1,086
    
$
(139,563
)
For the Nine Months Ended September 30, 2018
  
 
Beginning balance
  
$
78
    
$
4,310
    
$
32
    
$
(141,370
)
  
$
913
    
$
(136,037
)
Net income
    
--
      
--
      
--
      
2,040
      
1,480
      
3,520
  
Cumulative effect adjustment due to change in accounting policy
    
--
      
--
      
--
      
3,881
      
--
      
3,881
  
Foreign currency translation loss
    
--
      
--
      
(9
)
    
--
      
--
      
(9
)
Distributions
    
--
      
--
      
--
      
--
      
(1,138
)
    
(1,138
)
 
Ending balance
  
$
78
    
$
4,310
    
$
23
    
$
(135,449
)
  
$
1,255
    
$
(129,783
)
For the Nine Months Ended September 30, 2017
  
 
Beginning balance
  
$
78
    
$
3,229
    
$
25
    
$
(135,537
)
  
$
2,229
    
$
(129,976
)
Net (loss) income
    
--
      
--
      
--
      
(9,532
)
    
1,430
      
(8,102
)
Gain on extinguishment of subordinated debt
    
--
      
1,031
      
--
      
--
      
--
      
1,031
  
Stock-based compensation
    
--
      
50
      
--
      
--
      
--
      
50
  
Foreign currency translation gain
    
--
      
--
      
7
      
--
      
--
      
7
  
Distributions
    
--
      
--
      
--
      
--
      
(2,573
)
    
(2,573
)
 
Ending balance
  
$
78
    
$
4,310
    
$
32
    
$
(145,069
)
  
$
1,086
    
$
(139,563
)


The accompanying notes are an integral part of these condensed consolidated financial statements.


TELOS CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)


Note 1.  General and Basis of Presentation
Telos Corporation, together with its subsidiaries (the "Company" or "Telos" or "We"), is an information technology solutions and services company addressing the needs of U.S. Government and commercial customers worldwide. Our principal offices are located at 19886 Ashburn Road, Ashburn, Virginia 20147. The Company was incorporated as a Maryland corporation in October 1971. Our website is www.telos.com.

The accompanying condensed consolidated financial statements include the accounts of Telos and its subsidiaries, including Ubiquity.com, Inc., Xacta Corporation, and Teloworks, Inc., all of whose issued and outstanding share capital is owned by the Company. We have also consolidated the results of operations of Telos Identity Management Solutions, LLC ("Telos ID") (see Note 2 – Non-controlling Interests). All intercompany transactions have been eliminated in consolidation.

In our opinion, the accompanying condensed consolidated financial statements reflect all adjustments (which include normal recurring adjustments) and reclassifications necessary for their fair presentation in conformity with accounting principles generally accepted in the United States of America ("GAAP") and pursuant to rules and regulations of the Securities and Exchange Commission ("SEC"). The presented interim results are not necessarily indicative of fiscal year performance for a variety of reasons including, but not limited to, the impact of seasonal and short-term variations. We have continued to follow the accounting policies (including the critical accounting policies) set forth in the consolidated financial statements included in our 2017 Annual Report on Form 10-K filed with the SEC. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017.

In preparing these condensed consolidated financial statements, we have evaluated subsequent events through the date that these condensed consolidated financial statements were issued.

Segment Reporting
Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker ("CODM"), or decision making group, in deciding how to allocate resources and assess performance. We currently operate in one operating and reportable business segment for financial reporting purposes.  Our Chief Executive Officer is the CODM. The CODM only evaluates profitability based on consolidated results.

Recent Accounting Pronouncements

Recent Accounting Pronouncements Adopted
In May 2014, the Financial Accounting Standards Board ("FASB")  issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers," which requires an entity to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. In July 2015, the FASB finalized the delay of the effective date by one year, making the new standard effective for interim periods and annual period beginning after December 15, 2017. In March 2016, the FASB issued ASU 2016-08, "Revenues from Contract with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)," which clarifies the implementation guidance in ASU 2014-09 relating to principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10, "Revenue from Contracts with Customers (Topic 606) - Identifying Performance Obligations and Licensing," which further clarifies the implementation guidance relating to identifying performance obligations and the licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, "Revenue from Contracts with Customers (Topic 606):  Narrow Scope Improvements and Practical Expedients," which clarifies the implementation guidance related to collectability, presentation of sales tax, noncash consideration, contract modifications and completed contracts at transition. These standards can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. We adopted the standard on January 1, 2018 using the modified retrospective method, and reflecting cumulative changes in accumulated deficit.

As a result of the adoption of the ASC 606 standard on January 1, 2018, we determined that certain contractual arrangements required adjustment in order to appropriately reflect revenue recognition under the new standard.  For contracts for term-based license subscriptions that were in process at January 1, 2018, it was determined that the license was a distinct performance obligation where transfer of control of the license to the customer had occurred. Accordingly, the amount of revenue allocated to those performance obligations was reflected in the cumulative adjustment to our accumulated deficit in accordance with our election of the modified retrospective transition method as prescribed by the new standard.  This adjustment included two contracts for an aggregate cumulative adjustment to decrease accumulated deficit of $3.9 million, which adjusted contract liabilities by the same amount. The remaining performance obligations under the contracts were adjusted to reflect the adjusted allocation of the transaction price to these performance obligations. Additionally, upon adoption of the new standard it was determined that certain contractual arrangements for the provision of resold information technology products that had previously been accounted for on a gross revenue basis under the prior standard would appropriately be recognized on a net revenue basis and reflected in services revenue.  There were no contracts of this type in process that were included in the accumulated deficit adjustment.

In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230): Classification of certain cash receipts and cash payments," which intends to reduce the diversity in practice in how certain transactions are classified on the statement of cash flows. This standard will be effective retrospectively for interim and annual reporting periods beginning after December 31, 2017, and early adoption is permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In November 2016, the FASB issued ASU 2016-18, "Statement of Cash Flows (Topic 230) – Restricted Cash," which requires the presentation of changes in restricted cash or restricted cash equivalents on the statement of cash flows. This standard will be effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting," which amends the scope of modification accounting for share-based payment arrangements, provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. This ASU is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

Recent Accounting Pronouncements Not Yet Adopted
In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)." The guidance in this update supersedes the requirements in Accounting Standards Codification ("ASC") Topic 840, Leases. The update will require business entities to recognize lease assets and liabilities on the balance sheet and to disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. This update will be effective for interim and annual periods beginning after December 15, 2018, and is to be applied on a modified retrospective basis. In July 2018, the FASB issued ASU 2018-11, "Leases (Topic 842): Targeted Improvements", which provides an alternative modified retrospective transition method. Under this new transition method, an entity initially applies this new lease standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retaining earnings in the period of adoption.  The effective date of the amendments in this ASU related to transition are the same as the effective date for ASU 2016-02. We are currently assessing the impact the adoption of this ASU will have on our condensed consolidated financial position, results of operations and cash flows.  We expect to recognize increases in reported amounts for property and equipment, and related lease liabilities upon the adoption of this standard, and are still evaluating the impact it will have on results of operations.

In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which introduces new guidance for estimating credit losses on certain types of financial instruments based on expected losses and the timing of the recognition of such losses. This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. While we are currently assessing the impact the adoption of this ASU will have on our condensed consolidated financial position, results of operations and cash flows, we do not believe the adoption of this ASU will have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which eliminates Step 2 of the current goodwill impairment test, which requires a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment loss will instead be measured at the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the recorded amount of goodwill. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted for any impairment test performed on testing dates after January 1, 2017. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement", which modifies the disclosure requirement for fair value measurement under ASC 820 to improve the effectiveness of such disclosures. Those modification include the removal and addition of disclosure requirement as well as clarifying specific disclosure requirements.  This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In August 2018, the FASB issued ASU No. 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract," which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software.  This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

Revenue Recognition
We account for revenue in accordance with ASC Topic 606, "Revenue from Contracts with Customers." The unit of account in ASC 606 is a performance obligation, which is a promise, in a contract with a customer, to transfer a good or service to the customer. ASC 606 prescribes a five-step model for recognizing revenue that includes identifying the contract with the customer, determining the performance obligation(s), determining the transaction price, allocating the transaction price to the performance obligation(s), and recognizing revenue as the performance obligations are satisfied. Timing of the satisfaction of performance obligations varies across our businesses due to our diverse product and service mix, customer base, and contractual terms. Significant judgment can be required in determining certain performance obligations, and these determinations could change the amount of revenue and profit recorded in a given period.  Our contracts may have a single performance obligation or multiple performance obligations. When there are multiple performance obligations within a contract, we allocate the transaction price to each performance obligation based on our best estimate of standalone selling price.

We account for a contract after it has been approved by the parties to the contract, the rights and the payment terms of the parties are identified, the contract has commercial substance and collectability is probable, which is presumed for our U.S. Government customers and prime contractors for which we perform as subcontractors to U.S. Government end-customers.

The majority of our revenue is recognized over time, as control is transferred continuously to our customers who receive and consume benefits as we perform, and is classified as services revenue.  All of our business groups earn services revenue under a variety of contract types, including time and materials, firm-fixed price, firm fixed price level of effort, and cost plus fixed fee contract types, which may include variable consideration as discussed further below. Revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, material, subcontractor costs and indirect expenses. This continuous transfer of control to the customer is supported by clauses in our contracts with U.S. Government customers whereby the customer may terminate a contract for convenience and then pay for costs incurred plus a profit, at which time the customer would take control of any work in process. For non-U.S. Government contracts where we perform as a subcontractor and our order includes similar Federal Acquisition Regulation (the FAR) provisions as the prime contractor's order from the U.S. Government, continuous transfer of control is likewise supported by such provisions. For other non-U.S. Government customers, continuous transfer of control to such customers is also supported due to general terms in our contracts and rights to recover damages which would include, among other potential damages, the right to payment for our work performed to date plus a reasonable profit.

Due to the transfer of control over time, revenue is recognized based on progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the performance obligations. We generally use the cost-to-cost measure of progress on a proportional performance basis for our contracts because it best depicts the transfer of control to the customer which occurs as we incur costs on our contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. Due to the nature of the work required to be performed on certain of our performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment.  Contract estimates are based on various assumptions including labor and subcontractor costs, materials and other direct costs and the complexity of the work to be performed. A significant change in one or more of these estimates could affect the profitability of our contracts. We review and update our contract-related estimates regularly and recognize adjustments in estimated profit on contracts on a cumulative catch-up basis, which may result in an adjustment increasing or decreasing revenue to date on a contract in a particular period that the adjustment is identified. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate.

Revenue that is recognized at a point in time is for the sale of software licenses in our Cyber Operations and Defense ("CO&D") and IT & Enterprise Solutions business groups and for the sale of resold products in Telos ID and CO&D and is classified as product revenue.  Revenue on these contracts is recognized when the customer obtains control of the transferred product or service, which is generally upon delivery of the product to the customer for their use, due to us maintaining control of the product until that point. Orders for the sale of software licenses may contain multiple performance obligations, such as maintenance, training, or consulting services, which are typically delivered over time, consistent with the transfer of control disclosed above for the provision of services. When an order contains multiple performance obligations, we allocate the transaction price to the performance obligations using our best estimate of standalone selling price.

Contracts are routinely and often modified to account for changes in contract requirements, specifications, quantities, or price.  Depending on the nature of the modification, we determine whether to account for the modification as an adjustment to the existing contract or as a new contract.  Generally, modifications are not distinct from the existing contract due to the significant interrelatedness of the performance obligations and are therefore accounted for as an adjustment to the existing contract, and recognized as a cumulative adjustment to revenue (as either an increase or reduction of revenue) based on the modification's effect on progress toward completion of a performance obligation.

Our contracts may include various types of variable consideration, such as claims (for instance indirect rate or other equitable adjustments) or incentive fees. We include estimated amounts in the transaction price based on all of the information available to us, including historical information and future estimations, and to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when any uncertainty associated with the variable consideration is resolved. We have revised and re-submitted several years of incurred cost submissions reflecting certain indirect rate structure changes as a result of regular DCAA audits of incurred cost submissions. This resulted in signed final rate agreement letters for 2011 to 2013 and conformed incurred cost submissions for 2014 to 2015. We evaluated the resulting changes to revenue under the applicable cost plus fixed fee contracts for the years 2011 to 2015 as variable consideration, and determined the most likely amount to which we expect to be entitled, to the extent that no constraint exists that would preclude recognizing this revenue or result in a significant reversal of cumulative revenue recognized. We have included these estimated amounts of variable consideration in the transaction price and as performance on these contracts is complete, we have recognized revenue of $5.6 million in the current period.

Historically, most of our contracts do not include award or incentive fees. For incentive fees, we would include such fees in the transaction price to the extent we could reasonably estimate the amount of the fee.  With limited historical experience, we have not included any revenue related to incentive fees in our estimated transaction prices.  We may include in our contract estimates additional revenue for submitted contract modifications or claims against the customer when we believe we have an enforceable right to the modification or claim, the amount can be estimated reliably and its realization is probable. We consider the contractual/legal basis for the claim (in particular FAR provisions), the facts and circumstances around any additional costs incurred, the reasonableness of those costs and the objective evidence available to support such claims.

For our contracts that have an original duration of one year or less, we use the practical expedient applicable to such contracts and do not consider the time value of money. We capitalize sales commissions related to proprietary software and related services that are directly tied to sales. We do not elect the practical expedient to expense as incurred the incremental costs of obtaining a contract if the amortization period would have been one year or less. For the sales commissions that are capitalized, we amortize the asset over the expected customer life, which is based on recent and historical data.

Contract assets are amounts that are invoiced as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals or upon achievement of contractual milestones. Generally, revenue recognition occurs before billing, resulting in contract assets. These contract assets are referred to as unbilled receivables and are reported within accounts receivable, net of reserve on our condensed consolidated balance sheet.

Billed receivables are amounts billed and due from our customers that are classified as billed receivables and are reported within accounts receivable, net of reserve on the condensed consolidated balance sheet. The portion of the payments retained by the customer until final contract settlement is not considered a significant financing component due to the intent of the retainage being the customer's protection with respect to full and final performance under the contract.

Contract liabilities are payments received in advance and milestone payments from our customers on selected contracts that exceed revenue earned to date, resulting in contract liabilities. Contract liabilities typically are not considered a significant financing component because they are typically satisfied within one year and are used to meet working capital demands that can be higher in the early stages of a contract. Contract liabilities are reported on our condensed consolidated balance sheet on a net contract basis at the end of each reporting period.

We have one reportable segment. We treat sales to U.S. customers as sales within the U.S. regardless of where the services are performed. Substantially all of our revenues are from U.S. customers as international customers revenue is de minimus. The following tables disclose revenue (in thousands) by customer type and contract type for the periods presented.  Prior period amounts have not been adjusted under the modified retrospective method.

   
Three Months Ended September 30,
    
Nine Months Ended September 30,
  
   
2018
    
2017
    
2018
    
2017
  
                         
Federal
  
$
32,784
    
$
26,358
    
$
95,354
    
$
68,040
  
State & Local, and Commercial
    
1,911
      
1,885
      
6,685
      
4,410
  
      Total
  
$
34,695
    
$
28,243
    
$
102,039
    
$
72,450
  

   
Three Months Ended September 30,
    
Nine Months Ended September 30,
  
   
2018
    
2017
    
2018
    
2017
  
                         
Firm fixed-price
  
$
21,154
    
$
24,314
    
$
74,249
    
$
59,782
  
Time-and-materials
    
4,404
      
2,336
      
12,260
      
7,466
  
Cost plus fixed fee
    
9,137
      
1,593
      
15,530
      
5,202
  
      Total
  
$
34,695
    
$
28,243
    
$
102,039
    
$
72,450
  

The following table discloses contract receivables (in thousands):

   
September 30, 2018
    
January 1, 2018
    
December 31, 2017
  
Billed accounts receivable
  
$
10,485
    
$
11,736
    
$
11,736
  
Unbilled receivables
    
16,077
      
13,195
      
13,195
  
Allowance for doubtful accounts
    
(300
)
    
(411
)
    
(411
)
Receivables – net
  
$
26,262
    
$
24,520
    
$
24,520
  

The following table discloses contract liabilities (in thousands):

   
September 30, 2018
    
January 1, 2018
    
December 31, 2017
  
Contract liabilities
  
$
4,464
    
$
10,073
    
$
10,073
  

As of September 30, 2018, we had $91.1 million of remaining performance obligations, which we also refer to as funded backlog. We expect to recognize approximately 41.8% of our remaining performance obligations as revenue in 2018, an additional 56.4% by 2020 and the balance thereafter.

Accounts Receivable
Accounts receivable are stated at the invoiced amount, less allowances for doubtful accounts. Collectability of accounts receivable is regularly reviewed based upon management's knowledge of the specific circumstances related to overdue balances. The allowance for doubtful accounts is adjusted based on such evaluation. Accounts receivable balances are written off against the allowance when management deems the balances uncollectible.

On July 15, 2016, the Company entered into an accounts receivable purchase agreement under which the Company sells certain accounts receivable to a third party, or the "Factor", without recourse to the Company. The Factor initially pays the Company 90% of U.S. Federal government receivables or 85% of certain commercial prime contractors. The remaining payment is deferred and based on the amount the Factor receives from our customer, less a discount fee and a program access fee that is determined by the amount of time the receivable is outstanding before payment. The structure of the transaction provides for a true sale of the receivables transferred. Accordingly, upon transfer of the receivable to the Factor, the receivable is removed from the Company's condensed consolidated balance sheet, a loss on the sale is recorded and the residual amount remains a deferred payment as an accounts receivable until payment is received from the Factor. The balance of the sold receivables may not exceed $10 million. During the three and nine months ended September 30, 2018, the Company sold approximately $6.0 million and $11.1 million of receivables, respectively, and recognized a related loss of approximately $21,000 and $39,000 in selling, general and administrative expenses, respectively, for the same period. During the three and nine months ended September 30, 2017, the Company sold approximately $13.9 million and $22.1 million of receivables, respectively, and recognized a related loss of approximately $49,000 and $78,000 in selling, general and administrative expenses, respectively, for the same period. As of September 30, 2018, the balance of the sold receivables was approximately $2.9 million, and the related deferred price was approximately $0.4 million. As of December 31, 2017, there were no outstanding sold receivables.

Inventories
Inventories are stated at the lower of cost or net realizable value, where cost is determined on the weighted average method. Substantially all inventories consist of purchased commercial off-the-shelf hardware and software, and component computer parts used in connection with system integration services that we perform. An allowance for obsolete, slow-moving or nonsalable inventory is provided for all other inventory. This allowance is based on our overall obsolescence experience and our assessment of future inventory requirements. This charge is taken primarily due to the age of the specific inventory and the significant additional costs that would be necessary to upgrade to current standards as well as the lack of forecasted sales for such inventory in the near future. Gross inventory is $9.7 million and $15.0 million as of September 30, 2018 and December 31, 2017, respectively. As of September 30, 2018, it is management's judgment that we have fully provided for any potential inventory obsolescence, which was $0.9 million and $1.5 million as of September 30, 2018 and December 31, 2017, respectively.

Software Development Costs
Software development costs for software to be sold, leased or otherwise marketed are expensed as incurred until technological feasibility is reached, at which time additional costs are capitalized until the product is available for general release to customers. Technological feasibility is established when all planning, designing, coding and testing activities have been completed, and all risks have been identified.  Beginning with the second quarter of 2017, software development costs are capitalized and amortized over the estimated product life of 2 years on a straight-line basis. As of September 30, 2018, we capitalized $2.8 million of software development costs, which are included as a part of property and equipment. Amortization expense was $0.3 million and $0.7 million for the three and nine months ended September 30, 2018, respectively. Accumulated amortization was $0.9 million as of September 30, 2018. There was no amortization expense for the three and nine months ended September 30, 2017. The Company analyzes the net realizable value of capitalized software development costs on at least an annual basis and has determined that there is no indication of impairment of the capitalized software development costs as forecasted future sales are adequate to support amortization costs.

Income Taxes
We account for income taxes in accordance with ASC 740-10, "Income Taxes."  Under ASC 740-10, deferred tax assets and liabilities are recognized for the estimated future tax consequences of temporary differences and income tax credits.  Deferred tax assets and liabilities are measured by applying enacted statutory tax rates that are applicable to the future years in which deferred tax assets or liabilities are expected to be settled or realized for differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities.  Any change in tax rates on deferred tax assets and liabilities is recognized in net income in the period in which the tax rate change is enacted.  We record a valuation allowance that reduces deferred tax assets when it is "more likely than not" that deferred tax assets will not be realized.  We are required to establish a valuation allowance for deferred tax assets if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on available evidence, realization of deferred tax assets is dependent upon the generation of future taxable income.  We considered projected future taxable income, tax planning strategies, and reversal of taxable temporary differences in making this assessment. As such, we have determined that a full valuation allowance is required as of September 30, 2018 and December 31, 2017. As a result of a full valuation allowance against our deferred tax assets, a deferred tax liability (hanging credit) related to goodwill remains on our condensed consolidated balance sheets at September 30, 2018 and December 31, 2017. Due to the tax reform enacted on December 22, 2017, net operating losses generated in taxable years beginning after December 31, 2017 will have an indefinite carryforward period, which will be available to offset future taxable income created by the reversal of temporary taxable differences related to goodwill. As a result, we have adjusted the valuation allowance on our deferred tax assets and liabilities at September 30, 2018 and December 31, 2017.

We follow the provisions of ASC 740-10 related to accounting for uncertainty in income taxes. The accounting estimates related to liabilities for uncertain tax positions require us to make judgments regarding the sustainability of each uncertain tax position based on its technical merits. If we determine it is more likely than not that a tax position will be sustained based on its technical merits, we record the impact of the position in our consolidated financial statements at the largest amount that is greater than fifty percent likely of being realized upon ultimate settlement. These estimates are updated at each reporting date based on the facts, circumstances and information available. We are also required to assess at each reporting date whether it is reasonably possible that any significant increases or decreases to our unrecognized tax benefits will occur during the next 12 months.

The provision for income taxes in interim periods is computed by applying the estimated annual effective tax rate against earnings before income tax expense for the period. In addition, non-recurring or discrete items are recorded during the period in which they occur.

Goodwill
We evaluate the impairment of goodwill and other intangible assets in accordance with ASC 350, "Intangibles - Goodwill and Other," which requires goodwill and indefinite-lived intangible assets to be assessed on at least an annual basis for impairment using a fair value basis. Between annual evaluations, if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount, then impairment must be evaluated. Such circumstances could include, but are not limited to: (1) a significant adverse change in legal factors or business climate, or (2) a loss of key contracts or customers.

As the result of an acquisition, we record any excess purchase price over the net tangible and identifiable intangible assets acquired as goodwill. An allocation of the purchase price to tangible and intangible net assets acquired is based upon our valuation of the acquired assets. Goodwill is not amortized, but is subject to annual impairment tests. We complete our goodwill impairment tests as of December 31st each year. Additionally, we make evaluations between annual tests if events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The evaluation is based on the estimation of the fair values of our three reporting units, CO&D, Identity Management, and IT and Enterprise Solutions, of which goodwill is housed in the CO&D reporting unit, in comparison to the reporting unit's net asset carrying values. Our discounted cash flows required management judgment with respect to forecasted revenue streams and operating margins, capital expenditures and the selection and use of an appropriate discount rate. We utilized the weighted average cost of capital as derived by certain assumptions specific to our facts and circumstances as the discount rate. The net assets attributable to the reporting units are determined based upon the estimated assets and liabilities attributable to the reporting units in deriving its free cash flows. In addition, the estimate of the total fair value of our reporting units is compared to the market capitalization of the Company. The Company's assessment resulted in a fair value that was greater than the Company's carrying value, therefore the second step of the impairment test, as prescribed by the authoritative literature, was not required to be performed and no impairment of goodwill was recorded as of  December 31, 2017. There were no triggering events which would require goodwill impairment consideration during the quarter. Subsequent reviews may result in future periodic impairments that could have a material adverse effect on the results of operations in the period recognized. Certain negative potential events, such as a material loss or losses on contracts, or failure to achieve projected growth could result in impairment in the future. We estimate fair value of our reporting unit and compare the valuation with the respective carrying value for the reporting unit to determine whether any goodwill impairment exists. If we determine through the impairment review process that goodwill is impaired, we will record an impairment charge in our consolidated statements of operations. Goodwill is amortized and deducted over a 15-year period for tax purposes.

Stock-Based Compensation
Compensation cost is recognized based on the requirements of ASC 718, "Stock Compensation," for all share-based awards granted. Since June 2008, we have issued restricted stock (Class A common) to our executive officers, directors and employees. To date, there have been no grants in 2018. In May 2017, we granted 5,005,000 shares of restricted stock to our executive officers and employees. Such stock is subject to a vesting schedule as follows:  25% of the restricted stock vests immediately on the date of grant, thereafter, an additional 25% will vest annually on the anniversary of the date of grant subject to continued employment or services. As of September 30, 2018, there were 2,457,500 shares of restricted stock that remained subject to vesting. In the event of death of the employee or a change in control, as defined by the Telos Corporation 2008 Omnibus Long-Term Incentive Plan, the 2013 Omnibus Long-Term Incentive Plan, or the 2016 Omnibus Long-Term Incentive Plan, all unvested shares shall automatically vest in full. In accordance with ASC 718, we recorded immaterial compensation expense for any of the issuances as the value of our common stock was nominal, based on the deduction of our outstanding debt, capital lease obligations, and preferred stock from an estimated enterprise value, which was estimated based on discounted cash flow analysis, comparable public company analysis, and comparable transaction analysis.  Additionally, we determined that a significant change in the valuation estimate for common stock would not have a significant effect on the condensed consolidated financial statements.

Other Comprehensive Income
Our functional currency is the U.S. Dollar. For one of our wholly owned subsidiaries, the functional currency is the local currency. For this subsidiary, the translation of its foreign currency into U.S. Dollars is performed for assets and liabilities using current foreign currency exchange rates in effect at the balance sheet date and for revenue and expense accounts using average foreign currency exchange rates during the period. Translation gains and losses are included in stockholders' deficit as a component of accumulated other comprehensive income.

Accumulated other comprehensive income included within stockholders' deficit consists of the following (in thousands):

   
September 30, 2018
    
December 31, 2017
  
Cumulative foreign currency translation loss
  
$
(84
)
  
$
(75
)
Cumulative actuarial gain on pension liability adjustment
    
107
      
107
  
Accumulated other comprehensive income
  
$
23
    
$
32
  


Note 2.  Non-controlling Interests
On April 11, 2007, Telos ID was formed as a limited liability company under the Delaware Limited Liability Company Act. We contributed substantially all of the assets of our Identity Management business line and assigned our rights to perform under our U.S. Government contract with the Defense Manpower Data Center ("DMDC") to Telos ID at their stated book values. The net book value of assets we contributed totaled $17,000. Until April 19, 2007, we owned 99.999% of the membership interests of Telos ID and certain private equity investors ("Investors") owned 0.001% of the membership interests of Telos ID. On April 20, 2007, we sold an additional 39.999% of the membership interests to the Investor in exchange for $6 million in cash consideration. In accordance with ASC 505-10, "Equity-Overall," we recognized a gain of $5.8 million. As a result, we owned 60% of Telos ID, and therefore continued to account for the investment in Telos ID using the consolidation method.

On December 24, 2014 (the "Closing Date"), we entered into a Membership Interest Purchase Agreement (the "Purchase Agreement"), between the Company and the Investors, pursuant to which the Investors acquired from the Company an additional ten percent (10%) membership interest in Telos ID in exchange for $5 million (the "Transaction"). In connection with the Transaction, the Company and the Investors entered into the Second Amended and Restated Operating Agreement (the "Operating Agreement") governing the business, allocation of profits and losses and management of Telos ID. Under the Operating Agreement, Telos ID is managed by a board of directors comprised of five (5) members (the "Telos ID Board"). The Operating Agreement provides for two classes of membership units, Class A (owned by the Company) and Class B (owned by the Investors). The Class A member (the Company) owns 50% of Telos ID, is entitled to receive 50% of the profits of Telos ID, and may appoint three (3) members of the Telos ID Board. The Class B member (the Investors) owns 50% of Telos ID, is entitled to receive 50% of the profits of Telos ID, and may appoint two (2) members of the Telos ID Board.

Despite the post-Transaction ownership of Telos ID being evenly split at 50% by each member, Telos maintains control of the subsidiary through its holding of three of the five Telos ID board of director seats.

Under the Operating Agreement, the Class A and Class B members each have certain options with regard to the ownership interests held by the other party including the following:

●
Upon the occurrence of a change in control of the Class A member (as defined in the Operating Agreement, a "Change in Control"), the Class A member has the option to purchase the entire membership interest of the Class B member.
●
Upon the occurrence of the following events: (i) the involuntary termination of John B. Wood as CEO and chairman of the Class A member; (ii) the bankruptcy of the Class A member; or (iii) unless the Class A member exercises its option to acquire the entire membership interest of the Class B member upon a Change in Control of the Class A member, the transfer or issuance of more than fifty-one percent (51%) of the outstanding voting securities of the Class A member to a third party, the Class B member has the option to purchase the membership interest of the Class A member; provided, however, that in the event that the Class B member exercises the foregoing option, the Class A Member may then choose to purchase the entire interest of the Class B member.
●
In the event that more than fifty percent (50%) of the ownership interests in the Class B member are transferred to persons or individuals (other than members of the immediate family of the initial owners of the Class B member) without the consent of Telos ID, the Class A member has the option to purchase the entire membership interest of the Class B member.
●
The Class B member has the option to sell its interest to the Class A member at any time if there is not a letter of intent to sell Telos ID, a binding contract to sell all of the assets or membership interests in Telos ID, or a standstill for due diligence with respect to a sale of Telos ID. Notwithstanding the foregoing, the Class A member will not be obligated to purchase the interest of the Class B member if that purchase would constitute a violation of any existing line of credit available to the Company after giving effect to that purchase and the applicable lender refuses to consent to that purchase or to waive such violation.

If either the Class A member or the Class B member elects to sell its interest or buy the other member's interest upon the occurrence of any of the foregoing events, the purchase price for the interest will be based on an appraisal of Telos ID prepared by a nationally recognized investment banker. If the Class A member fails to satisfy its obligation, subject to the restrictions in the Purchase Agreement, to purchase the interest of the Class B member under the Operating Agreement, the Class B member may require Telos ID to initiate a sales process for the purpose of seeking an offer from a third party to purchase Telos ID that maximizes the value of Telos ID. The Telos ID Board must accept any offer from a bona fide third party to purchase Telos ID if that offer is approved by the Class B member, unless the purchase of Telos ID would violate the terms of any existing line of credit available to the Company and the applicable lender does not consent to that purchase or waive the violation. The sale process is the sole remedy available to the Class B member if the Class A member does not purchase its membership interest.  Under such a forced sale scenario, a sales process would result in both members receiving their proportionate membership interest share of the sales proceeds and both members would always be entitled to receive the same form of consideration.

Pursuant to the Transaction, the Class A and Class B members each owns 50% of Telos ID, as mentioned above, and as such was allocated 50% of the profits, which was $0.7 million and $1.5 million for the three and nine months ended September 30, 2018, respectively, and $1.1 million and $1.4 million for the three and nine months ended September 30, 2017, respectively. The Class B member is the non-controlling interest.

Distributions are made to the members only when and to the extent determined by the Telos ID's Board of Directors, in accordance with the Operating Agreement. The Class B member received a total $0.2 million and $1.1 million for the three and nine months ended September 30, 2018, respectively, and $0.2 million and $2.6 million for the three and nine months ended September 30, 2017, respectively, of such distributions.

The following table details the changes in non-controlling interest for the three and nine months ended September 30, 2018 and 2017 (in thousands):

   
Three Months Ended September 30,
    
Nine Months Ended September 30,
  
   
2018
    
2017
    
2018
    
2017
  
Non-controlling interest, beginning of period
  
$
773
    
$
235
    
$
913
    
$
2,229
  
Net income
    
715
      
1,078
      
1,480
      
1,430
  
Distributions
    
(233
)
    
(227
)
    
(1,138
)
    
(2,573
)
Non-controlling interest, end of period
  
$
1,255
    
$
1,086
    
$
1,255
    
$
1,086
  

Note 3.  Goodwill
The goodwill balance was $14.9 million as of September 30, 2018 and December 31, 2017. Goodwill is subject to annual impairment tests and if triggering events are present before the annual tests, we will assess impairment. As of September 30, 2018, no impairment charges were taken.

Note 4.  Fair Value Measurements
The accounting standard for fair value measurements provides a framework for measuring fair value and expands disclosures about fair value measurements. The framework requires the valuation of financial instruments using a three-tiered approach. The statement requires fair value measurement to be classified and disclosed in one of the following categories:

Level 1:  Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets and liabilities;

Level 2:  Quoted prices in the markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; or

Level 3:  Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity).

As of September 30, 2018 and December 31, 2017, we did not have any financial instruments with significant Level 3 inputs and we did not have any financial instruments that are measured at fair value on a recurring basis.

As of September 30, 2018 and December 31, 2017, the carrying value of the Company's 12% Cumulative Exchangeable Redeemable Preferred Stock, par value $.01 per share (the "Public Preferred Stock") was $134.4 million and $131.6 million, respectively, and the estimated fair market value was $41.2 million and $42.2 million, respectively, based on quoted market prices.

For certain of our non-derivative financial instruments, including receivables, accounts payable and other accrued liabilities, the carrying amount approximates fair value due to the short-term maturities of these instruments. The estimated fair value of the Facility and long-term debt is based primarily on borrowing rates currently available to the Company for similar debt issues. The fair value approximates the carrying value of long-term debt.

Note 5.  Current Liabilities and Debt Obligations

Accounts Payable and Other Accrued Payables
As of September 30, 2018 and December 31, 2017, the accounts payable and other accrued payables consisted of $16.9 million and $15.4 million, respectively, in trade account payables and $3.0 million and $10.3 million, respectively, in accrued payables.

Contract Liabilities 
Contract liabilities are payments received in advance and milestone payments from our customers on selected contracts that exceed revenue earned to date, resulting in contract liabilities. Contract liabilities typically are not considered a significant financing component because they are typically satisfied within one year and are used to meet working capital demands that can be higher in the early stages of a contract. Contract liabilities are reported on our condensed consolidated balance sheets on a net contract basis at the end of each reporting period. As of September 30, 2018 and December 31, 2017, the contract liabilities primarily consisted of product support services.

Enlightenment Capital Credit Agreement
On January 25, 2017, we entered into a Credit Agreement (the "Credit Agreement") with Enlightenment Capital Solutions Fund II, L.P., as agent (the "Agent"), and the lenders party thereto (the "Lenders"), (together referenced as "EnCap"). The Credit Agreement provides for an $11 million senior term loan (the "Loan") with a maturity date of January 25, 2022, subject to acceleration in the event of customary events of default.

All borrowings under the Credit Agreement accrue interest at the rate of 13.0% per annum (the "Accrual Rate"). If, at the request of the Company, the Agent executes an intercreditor agreement with another senior lender under which the Agent and the Lenders subordinate their liens (an "Alternative Interest Rate Event"), the interest rate will increase to 14.5% per annum. After the occurrence and during the continuance of any event of default, the interest rate will increase 2.0%. The Company is obligated to pay accrued interest in cash on a monthly basis at a rate of not less than 10.0% per annum or, during the continuance of an Alternate Interest Rate Event, 11.5% per annum. The Company may elect to pay the remaining interest in cash, by payment-in-kind (by addition to the principal amount of the Loan) or by combination of cash and payment-in-kind. Upon thirty days prior written notice, the Company may prepay any portion or the entire amount of the Loan.

An amount of approximately $1.1 million was netted from the proceeds on the Loan as a prepayment of all interest due and payable at the Accrual Rate during the period from January 25, 2017 to October 31, 2017. A separate fee letter executed by the Company and the Agent, dated January 25, 2017, sets forth the fees payable to the Agent in connection with the Credit Agreement.

The Credit Agreement contains representations, warranties, covenants, terms and conditions customary for transactions of this type. In connection with the Credit Agreement, the Agent has been granted, for the benefit of the Lenders, a security interest in and general lien upon various property of the Company, subject to certain permitted liens and any intercreditor agreement. The occurrence of an event of default under the Credit Agreement could result in the Loan and other obligations becoming immediately due and payable and allow the Lenders to exercise all rights and remedies available to them under the Credit Agreement or as a secured party under the UCC, in addition to all other rights and remedies available to them.

In connection with the Credit Agreement, on January 25, 2017, the Company issued warrants (each, a "Warrant") to Agent and certain of the Lenders representing in the aggregate the right to purchase in accordance with their terms 1,135,284.333 shares of the Class A Common Stock of the Company, no par value per share, which is equivalent to approximately 2.5% of the common equity interests of the Company on a fully diluted basis. The exercise price is $1.321 per share and each Warrant expires on January 25, 2027. The value of the warrants was determined to be de minimis and no value was allocated to them on a relative fair value basis in accounting for the debt instrument.

Effective February 23, 2017, the Credit Agreement was amended to change the required timing of certain post-closing items to allow for more time to complete the legal and administrative requirements around such items. On April 18, 2017, the Credit Agreement was further amended (the "Second Amendment") to incorporate the parties' agreement to subordinate certain debt owed by the Company to the affiliated entities of Mr. John R. C. Porter (the "Subordinated Debt") and to redeem all outstanding shares of the Series A-1 Redeemable Preferred Stock and the Series A-2 Redeemable Preferred Stock, including those owned by Mr. John R.C. Porter and his affiliates, for an aggregate redemption price of $2.1 million.

In connection with the Second Amendment and that subordination of debt, on April 18, 2017, we also entered into Subordination and Intercreditor Agreements (the "Intercreditor Agreements") with affiliated entities of Mr. John R. C. Porter (together referenced as "Porter"), in which Porter agreed that the Subordinated Debt is fully subordinated to the amended Credit Agreement and related documents, and that required payments, if any, under the Subordinated Debt are permitted only if certain conditions are met.

The Credit Agreement also includes an $825,000 exit fee, which is payable upon any repayment or prepayment of the loan. This amount has been included in the total principal due and treated as an unamortized discount on the debt, which will be amortized over the term of the loan, using the effective interest method at a rate of 15.0%. We incurred fees and transaction costs of approximately $374,000 related to the issuance of the Credit Agreement, which are being amortized over the life of the Credit Agreement.

On March 30, 2018, the Credit Agreement was amended (the "Third Amendment") to waive any actual or potential non-compliance with covenants in 2017 and to reset the covenants for 2018 measurement periods to more accurately reflect the Company's projected performance for the year. The measurement against the covenants for consolidated leverage ratio and consolidated fixed charge coverage ratio were agreed to not be measured as of December 31, 2017 and were reset for 2018 measurement periods. Additionally, a minimum revenue covenant and a net working capital covenant were added. In consideration of these amendments, the interest rate on the loan was increased by 1%, which will revert back to the original rate upon achievement of two consecutive quarters of a specified fixed charge coverage ratio as defined in the agreement. The Company may elect to pay the increase in interest expense in cash or by payment-in-kind (by addition to the principal amount of the Loan). The increase in interest expense was paid in cash during the six months ended September 30, 2018.  Contemporaneously with the Third Amendment, Mr. Wood agreed to transfer 50,000 shares of the Company's Class A Common Stock owned by him to EnCap. As of September 30, 2018, we were in compliance with the Credit Agreement's financial covenants.

The carrying amount of the Credit Agreement consisted of the following (in thousands):

   
September 30, 2018
    
December 31, 2017
  
Senior term loan, including exit fee
  
$
11,825
    
$
11,825
  
Less:  Unamortized discount, debt issuance costs, and lender fees
    
(894
)
    
(1,039
)
Senior term loan, net
  
$
10,931
    
$
10,786
  

We incurred interest expense in the amount of $0.4 million and $1.3 million for the three and nine months ended September 30, 2018, respectively, and $0.4 million and $1.1 million for the three and nine months ended September 30, 2017, respectively, under the Credit Agreement.

Accounts Receivable Purchase Agreement
On July 15, 2016, we entered into an Accounts Receivable Purchase Agreement (the "Purchase Agreement") with Republic Capital Access, LLC ("RCA" or "Buyer"), pursuant to which we may offer for sale, and RCA, in its sole discretion, may purchase, eligible accounts receivable relating to U.S. government prime contracts or subcontracts of the Company (collectively, the "Purchased Receivables"). Upon purchase, RCA becomes the absolute owner of any such Purchased Receivables, which are payable directly to RCA, subject to certain repurchase obligations of the Company. The total amount of Purchased Receivables is subject to a maximum limit of $10 million of outstanding Purchased Receivables (the "Maximum Amount") at any given time. The Purchase Agreement had an initial term expiring on June 30, 2018 and automatically renews for successive 12-month renewal periods unless terminated in writing by either the Company or RCA. On March 2, 2018, the term of the Purchase Agreement was extended to June 30, 2020. No fee or consideration of any kind was paid in connection with this extension.

The initial purchase price of a Purchased Receivable is equal to 90% of the face value of the receivable if the account debtor is an agency of the U.S. government, and 85% if the account debtor is not an agency of the U.S. government; provided, however, that RCA has the right to adjust these initial purchase price rates in its sole discretion. After collection by RCA of the portion of a Purchased Receivable in excess of the initial purchase price, RCA shall pay the Company the residual 10% or 15% of such Purchased Receivable, as appropriate, less (i) a discount factor equal to 0.30%, for federal government prime contracts (or 0.56% for non-federal government investment grade account obligors or 0.62% for non-federal government non-investment grade account obligors) of the face amounts of Purchased Receivables; (ii) a program access fee equal to 0.008% of the daily ending account balance for each day that Purchased Receivable are outstanding; (iii) a commitment fee equal to 1% per annum of Maximum Amount minus the amount of Purchased Receivables outstanding; and (iv) fees, costs and expenses relating to the preparation, administration and enforcement of the Purchase Agreement and any other related agreements.

The Purchase Agreement provides that in the event, but only to the extent, that the conveyance of Purchased Receivables by the Company is characterized by a court or other governmental authority as a loan rather than a sale, the Company shall be deemed to have granted RCA, effective as of the date of the first purchase under the Purchase Agreement, a security interest in all of the Company's right, title and interest in, to and under all of the Purchased Receivables, whether now or hereafter owned, existing or arising.

The Company provides a power of attorney to RCA to take certain actions in the Company's stead, including (a) to sell, assign or transfer in whole or in part any of the Purchased Receivables; (b) to demand, receive and give releases to any account debtor with respect to amounts due under any Purchased Receivables; (c) to notify all account debtors with respect to the Purchased Receivables; and (d) to take any actions necessary to perfect RCA's interests in the Purchased Receivables.

The Company is liable to Buyer for any fraudulent statements and all representations, warranties, covenants, and indemnities made by the Company pursuant to the terms of the Purchase Agreement. It is considered an event of default if (a) the Company fails to pay any amounts it owes to RCA when due (subject to a cure period); (b) the Company has voluntary or involuntary bankruptcy proceedings commenced by or against it; (c) the Company is no longer solvent or is generally not paying its debts as they become due; (d) any voluntary liens, garnishments, attachments, or the like are issued against or attach to the Purchased Receivables; (e) the Company breaches any warranty, representation, or covenant (subject to a cure period); (f) the Company is not in compliance or has otherwise defaulted under any document or obligation in favor of RCA or an RCA affiliate; or (g) the Purchase Agreement or any material provision terminates (other than in accordance with the terms of the Purchase Agreement) or ceases to be effective or to be a binding obligation of the Company. If any such event of default occurs, then RCA may take certain actions, including ceasing to buy any eligible receivables, declaring any indebtedness or other obligations immediately due and payable, or terminating the Purchase Agreement.

Financing and Security Agreement
On July 15, 2016, we entered into a Financing and Security Agreement (the "Financing Agreement") with Action Capital Corporation ("Action Capital"), pursuant to which Action Capital agreed to provide the Company with advances of up to 90% of the net amount of certain acceptable customer accounts of the Company that have been assigned as collateral to Action Capital (the "Acceptable Accounts"). The maximum outstanding principal amount of advances under the Financing Agreement was $5 million. The Financing Agreement has a term of two years, provided that the Company may terminate it at any time without penalty upon written notice. On August 13, 2018, the Financing Agreement was extended through January 2, 2019. No fee or consideration of any kind was paid in connection with this extension.

The Company shall pay Action Capital interest on the advances outstanding under the Financing Agreement at a rate equal to the prime rate of Wells Fargo Bank, N.A. in effect on the last business day of the prior month plus 2%, and a monthly fee equal to 0.50%. All interest calculations are based on a year of 360 days. The Company's obligations under the Financing Agreement are secured by certain assets of the Company pertaining to the Acceptable Accounts, including all accounts, accounts receivable, earned and unbilled revenue, contract rights, chattel paper, documents, instruments, general intangibles, reserves, reserve accounts, rebates, books and records, and all proceeds of the foregoing.

Pursuant to the terms of the Financing Agreement, Action Capital shall have full recourse against the Company when an Acceptable Account is not paid in full by the respective customer within 90 days of the date of purchase or if for any reason it ceases to be an Acceptable Account, including the right to charge-back any such Acceptable Account. It is considered an event of default if the Company breaches any covenant or warranty, knowingly provides false or incorrect material information to Action Capital, or otherwise defaults on any of its material obligations under the Financing Agreement or any other material agreements with Action Capital (subject to a cure period). If any such events of default occur, then Action Capital may take certain actions, including declaring any indebtedness immediately due and payable, requiring any customers with Acceptable Accounts to make payments directly to Action Capital, exercising its power of attorney from the Company to take actions in the Company's stead with respect to any of Company's Acceptable Accounts, or terminating the Financing Agreement.

As of September 30, 2018, there were no outstanding borrowings under the Financing Agreement.

Subordinated Debt
On March 31, 2015, the Company entered into Subordinated Loan Agreements and Subordinated Promissory Notes ("Porter Notes") with affiliated entities of Mr. John R. C. Porter (together referenced as "Porter"). Mr. Porter and Toxford Corporation, of which Mr. Porter is the sole shareholder, own 35.0% of our Class A Common Stock. Under the terms of the Porter Notes, Porter lent the Company $2.5 million on or about March 31, 2015. According to the terms of the Porter Notes, the outstanding principal sum bears interest at the fixed rate of twelve percent (12%) per annum which would be payable in arrears in cash on the 20th day of each May, August, November and February, with the first interest payment date due on August 20, 2015. The Porter Notes do not call for amortization payments and are unsecured. The Porter Notes, in whole or in part, may be repaid at any time without premium or penalty. The unpaid principal, together with interest, was originally due and payable in full on July 1, 2017. 

On April 18, 2017, we amended and restated the Porter Notes to reduce the interest rate from twelve percent (12%) to six percent (6%) per annum, to be accrued, and extended the maturity date from July 1, 2017 to July 25, 2022. Telos also entered into the Intercreditor Agreements with Porter and EnCap, in which the Porter Notes are fully subordinated to the Credit Agreement and any subsequent senior lenders (including Action Capital), and payments under the Porter Notes are permitted only if certain conditions are met. All other terms remain in full force and effect. We incurred interest expense in the amount of $78,000 and $229,000 for three and nine months ended September 30, 2018, respectively, and $99,000 and $218,000 for the three and nine months ended September 30, 2017, respectively, on the Porter Notes. As a result of the amendment and restatement of the Porter Notes, we recorded a gain on extinguishment of debt of approximately $1 million, which consisted of the remeasurement of the debt at fair value. As the extinguishment was with a related party, the transaction was deemed to be a capital transaction and the gain was recorded in the Company's stockholders' deficit as of December 31, 2017.

Note 6.  Redeemable Preferred Stock

A maximum of 6,000,000 shares of the Public Preferred Stock, par value $.01 per share, has been authorized for issuance. We initially issued 2,858,723 shares of the Public Preferred Stock pursuant to the acquisition of the Company during fiscal year 1990. The Public Preferred Stock was recorded at fair value on the date of original issue, November 21, 1989, and we made periodic accretions under the interest method of the excess of the redemption value over the recorded value. We adjusted our estimate of accrued accretion in the amount of $1.5 million in the second quarter of 2006. The Public Preferred Stock was fully accreted as of December 2008. We declared stock dividends totaling 736,863 shares in 1990 and 1991. Since 1991, no other dividends, in stock or cash, have been declared. In November 1998, we retired 410,000 shares of the Public Preferred Stock. The total number of shares issued and outstanding at September 30, 2018 and December 31, 2017 was 3,185,586. The Public Preferred Stock is quoted as "TLSRP" on the OTCQB marketplace and the OTC Bulletin Board.

 Since 1991, no dividends were declared or paid on our Public Preferred Stock, based upon our interpretation of restrictions in our Articles of Amendment and Restatement, limitations in the terms of the Public Preferred Stock instrument, specific dividend payment restrictions in the Credit Agreement and the Porter Notes to which the Public Preferred Stock is subject, other senior obligations currently or previously in existence, and Maryland law limitations in existence prior to October 1, 2009. Subsequent to the 2009 Maryland law change, dividend payments continue to be prohibited except under certain specific circumstances as set forth in Maryland Code Section 2-311, which the Company did not satisfy as of the measurement dates. Pursuant to the terms of the Articles of Amendment and Restatement, we were scheduled, but not required, to redeem the Public Preferred Stock in five annual tranches during the period 2005 through 2009. However, due to our substantial senior obligations currently or previously in existence, limitations set forth in the covenants in the Credit Agreement and the Porter Notes, foreseeable capital and operational requirements, and restrictions and prohibitions of our Articles of Amendment and Restatement, we were and remain unable to meet the redemption schedule set forth in the terms of the Public Preferred Stock as of the measurement dates. Moreover, the Public Preferred Stock is not payable on demand, nor callable, for failure to redeem the Public Preferred Stock in accordance with the redemption schedule set forth in the instrument. Therefore, we classify these securities as noncurrent liabilities in the condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017.

On January 25, 2017, we became parties with certain of our subsidiaries to the Credit Agreement with EnCap. Under the Credit Agreement, we agreed that, until full and final payment of the obligations under the Credit Agreement, we would not make any distribution or declare or pay any dividends (other than common stock) on our stock, or purchase, acquire, or redeem any stock, or exchange any stock for indebtedness, or retire any stock. Additionally, the Porter Notes contain similar prohibitions on dividend payments or stock redemptions.

Accordingly, as stated above, we will continue to classify the entirety of our obligation to redeem the Public Preferred Stock as a long-term obligation. The Credit Agreement and the Porter Notes prohibit, among other things, the redemption of any stock, common or preferred, other than as described above. The Public Preferred Stock by its terms also cannot be redeemed if doing so would violate the terms of an agreement regarding the borrowing of funds or the extension of credit which is binding upon us or any of our subsidiaries, and it does not include any other provisions that would otherwise require any acceleration of the redemption of or amortization payments with respect to the Public Preferred Stock. Thus, the Public Preferred Stock is not and will not be due on demand, nor callable, within 12 months from September 30, 2018.  This classification is consistent with ASC 210-10, "Balance Sheet" and 470-10, "Debt" and the FASB ASC Master Glossary definition of "Current Liabilities."

ASC 210-10 and the FASB ASC Master Glossary define current liabilities as follows: The term current liabilities is used principally to designate obligations whose liquidation is reasonably expected to require the use of existing resources properly classifiable as current assets, or the creation of other current liabilities. As a balance sheet category, the classification is intended to include obligations for items which have entered into the operating cycle, such as payables incurred in the acquisition of materials and supplies to be used in the production of goods or in providing services to be offered for sale; collections received in advance of the delivery of goods or performance of services; and debts that arise from operations directly related to the operating cycle, such as accruals for wages, salaries, commissions, rentals, royalties, and income and other taxes. Other liabilities whose regular and ordinary liquidation is expected to occur within a relatively short period of time, usually twelve months, are also intended for inclusion, such as short-term debts arising from the acquisition of capital assets, serial maturities of long-term obligations, amounts required to be expended within one year under sinking fund provisions, and agency obligations arising from the collection or acceptance of cash or other assets for the account of third persons.

ASC 470-10 provides the following: The current liability classification is also intended to include obligations that, by their terms, are due on demand or will be due on demand within one year (or operating cycle, if longer) from the balance sheet date, even though liquidation may not be expected within that period.  It is also intended to include long-term obligations that are or will be callable by the creditor either because the debtor's violation of a provision of the debt agreement at the balance sheet date makes the obligation callable or because the violation, if not cured within a specified grace period, will make the obligation callable.

If, pursuant to the terms of the Public Preferred Stock, we do not redeem the Public Preferred Stock in accordance with the scheduled redemptions described above, the terms of the Public Preferred Stock require us to discharge our obligation to redeem the Public Preferred Stock as soon as we are financially capable and legally permitted to do so. Therefore, by its very terms, the Public Preferred Stock is not due on demand or callable for failure to make a scheduled payment pursuant to its redemption provisions and is properly classified as a noncurrent liability.

We pay dividends on the Public Preferred Stock when and if declared by the Board of Directors. The Public Preferred Stock accrues a semi-annual dividend at the annual rate of 12% ($1.20) per share, based on the liquidation preference of $10 per share and is fully cumulative. Dividends in additional shares of the Public Preferred Stock for 1990 and 1991 were paid at the rate of 6% of a share for each $.60 of such dividends not paid in cash. For the cash dividends payable since December 1, 1995, we have accrued $102.6 million and $99.7 million as of September 30, 2018 and December 31, 2017, respectively. We accrued dividends on the Public Preferred Stock of $1.0 million and $2.9 million for each of the three and nine months ended September 30, 2018 and 2017, respectively, which was recorded as interest expense. Prior to the effective date of ASC 480-10 on July 1, 2003, such dividends were charged to stockholders' accumulated deficit.

Note 7.  Income Taxes
The income tax provision for interim periods is determined using an estimated annual effective tax rate adjusted for discrete items, if any, which are taken into account in the quarterly period in which they occur.  We review and update our estimated annual effective tax rate each quarter. The 2018 tax rate reflects the enactment of the Tax Cuts and Jobs Act of 2017 ("Tax Act"), which permanently reduced the U.S. corporate statutory rate from 35% to 21% effective January 1, 2018. For the three and nine months ended September 30, 2018 and 2017, our estimated annual effective tax rate was primarily impacted by the overall valuation allowance position which reduced the net tax impact from taxable income (loss) for all periods. Accordingly, we recorded an approximately $106,000 and $41,000 income tax benefit for the three and nine months ended September 30, 2018, respectively, and $211,000 and $529,000 income tax provision for the three and nine months ended September 30, 2017, respectively.

In 2017, in accordance with Staff Accounting Bulletin No. 118, "Income Tax Accounting Implications of the Tax Cuts and Jobs Act", we recorded provisional amounts related to the Tax Act, including the remeasurement of our deferred tax assets and liabilities and the valuation allowance related to the hanging credit deferred tax liability. We continue to evaluate the impact of the Tax Act, which may result in changes to our tax estimates.

We are required to establish a valuation allowance for deferred tax assets if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on available evidence, realization of deferred tax assets is dependent upon the generation of future taxable income. We considered projected future taxable income, tax planning strategies, and reversal of taxable temporary differences in making this assessment. As such, we have determined that a full valuation allowance is required as of September 30, 2018 and December 31, 2017. Under the Tax Act, we will be able to use our hanging credit deferred tax liabilities as a source of taxable income to support the indefinite-lived net operating losses created by the future reversal of our temporary differences. Accordingly, we have re-measured our existing deferred tax assets and liabilities using the enacted tax rate, and adjusted the valuation allowance on our deferred taxes and, as a result, a deferred tax liability related to goodwill of $779,000 and $741,000 remains on our condensed consolidated balance sheets at September 30, 2018 and December 31, 2017, respectively.

Under the provisions of ASC 740-10, we determined that there were approximately $700,000 and $677,000 of unrecognized tax benefits, including $289,000 and $266,000 of related interest and penalties, required to be recorded in other liabilities in the condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017, respectively. We believe that the total amounts of unrecognized tax benefits will not significantly increase or decrease within the next 12 months.

Note 8.  Commitments and Contingencies

Financial Condition and Liquidity
As described in Note 5 – Current Liabilities and Debt Obligations, we maintain a Credit Agreement with EnCap, a Purchase Agreement with RCA and a Financing Agreement with Action Capital. The willingness of RCA to purchase our accounts receivable under the Purchase Agreement and of Action Capital to make advances under the Financing Agreement, and our ability to obtain additional financing, may be limited due to various factors, including the eligibility of our receivables, the status of our business, global credit market conditions, and perceptions of our business or industry by EnCap, RCA, Action Capital, or other potential sources of financing. If we are unable to maintain the Purchase Agreement and the Financing Agreement, we would need to obtain additional credit to fund our future operations. If credit is available in that event, lenders may impose more restrictive terms and higher interest rates that may reduce our borrowing capacity, increase our costs, or reduce our operating flexibility. The failure to maintain, extend, renew or replace the Purchase Agreement and the Financing Agreement with a comparable arrangement or arrangements that provide similar amounts of liquidity for the Company would have a material negative impact on our overall liquidity, financial and operating results.

While a variety of factors related to sources and uses of cash, such as timeliness of accounts receivable collections, vendor credit terms, or significant collateral requirements, ultimately impact our liquidity, such factors may or may not have a direct impact on our liquidity, based on how the transactions associated with such circumstances impact our availability under our credit arrangements. For example, a contractual requirement to post collateral for a duration of several months, depending on the materiality of the amount, could have an immediate negative effect on our liquidity, as such a circumstance would utilize cash resources without a near-term cash inflow back to us. Likewise, the release of such collateral could have a corresponding positive effect on our liquidity, as it would represent an addition to our cash resources without any corresponding near-term cash outflow. Similarly, a slow-down of payments from a customer, group of customers or government payment office would not have an immediate and direct effect on our availability unless the slowdown was material in amount and over an extended period of time. Any of these examples would have an impact on our cash resources, our financing arrangements, and therefore ultimately our liquidity.

Management may determine that, in order to reduce capital and liquidity requirements, planned spending on capital projects and indirect expense growth may be curtailed, subject to growth in operating results. Additionally, management may seek to put in place a credit facility with a commercial bank, although no assurance can be given that such a facility could be put in place under terms acceptable to the Company. Should management determine that additional capital is required, management would likely look first to the sources of funding discussed above to meet any requirements, although no assurances can be given that these investors would be able to invest or that the Company and the investors would agree upon terms for such investments.

Our working capital was $4.0 million and $(4.1) million as of September 30, 2018 and December 31, 2017, respectively. Although no assurances can be given, we expect that our financing arrangements with EnCap, RCA and Action Capital, collectively, and funds generated from operations are sufficient to maintain the liquidity we require to meet our operating, investing and financing needs for the next 12 months.

Legal Proceedings

Costa Brava Partnership III, L.P., et al. v. Telos Corporation, et al.
As previously disclosed in Note 13 of the Consolidated Financial Statements contained in our Annual Report on Form 10-K for the year ended December 31, 2017, on October 17, 2005, Costa Brava Partnership III, L.P. ("Costa Brava"), a holder of our Public Preferred Stock, filed a lawsuit against the Company and certain past and present directors and officers ("Telos Defendants") in the Circuit Court for Baltimore City, Maryland (the "Circuit Court"). A second holder of the Company's Public Preferred Stock, Wynnefield Small Cap Value, L.P. ("Wynnefield"), subsequently intervened as a co-Plaintiff (Costa Brava and Wynnefield are hereinafter referred to as "Plaintiffs").  On February 27, 2007, Plaintiffs added, as an additional defendant, Mr. John R.C. Porter, a holder of the Company's Class A common stock. As of September 30, 2018, Costa Brava and Wynnefield, directly and through affiliated funds, own 12.7% and 17.4%, resepectively, of the outstanding Public Preferred Stock. There have been no material developments in this litigation during the three month period ended September 30, 2018, and the matter remains pending.

At this stage of the litigation, it is impossible to reasonably determine the degree of probability related to Plaintiffs' success in relation to any of their assertions in the litigation.  Although there can be no assurance as to the ultimate outcome of the case, the Company and its present and former officers and directors strenuously deny Plaintiffs' allegations and continue to vigorously defend the matter and oppose all relief sought by Plaintiffs.

Hamot et al. v. Telos Corporation
As previously disclosed in Note 13 of the Consolidated Financial Statements contained in our Annual Report on Form 10-K for the year ended December 31, 2017, the Company has been engaged in litigation in the Circuit Court since August 2, 2007 with Messrs. Seth W. Hamot and Andrew R. Siegel ("Plaintiffs/Counterdefendants") in which the Plaintiffs sought access to various books and records of the Company and injunctive and other relief related thereto, and in which the Company filed a Counterclaim against the Plaintiffs/Counterdefendants for various alleged wrongs.  Mr. Siegel is a Class D Director of the Company and Mr. Hamot was a Class D Director of the Company until his resignation on March 9, 2018.

On or about July 6, 2018, the attorneys representing Mr. Hamot filed a Notice of Substitution of Party in the Circuit Court and the Court of Special Appeals, providing notice that Mr. Steven Tannanbaum was appointed and qualified as the Special Personal Representative of the Estate of Mr. Seth Hamot to represent the estate in the litigation.

The briefing on Telos' appeal was completed and oral argument on Telos' appeal was held before the Court of Special Appeals on October 3, 2018.  The appeal remains pending.

On September 21, 2018, Plaintiffs filed in the Circuit Court a Motion for Entry of Money Judgment of Advancement Fees and Expenses, or, in the Alternative, for Order that Telos Corporation Show Cause Why Telos Corporation Should Not be Held in Contempt for Failing to Comply with this Court's June 27, 2018 Order Directing Telos Corporation to Pay Advancement Fees and Expenses.  Telos filed its Opposition to the Motion on October 9, 2018.  The matter remains pending.

At this stage of the litigation, in light of the pendency of the appeal and Plaintiffs'/Counterdefendants' dismissal of their cross-appeal, it is impossible to reasonably determine the degree of probability related to the Company's success in relation to any of the assertions in the foregoing litigation.

Other Litigation
In addition, the Company is a party to litigation arising in the ordinary course of business.  In the opinion of management, while the results of such litigation cannot be predicted with any reasonable degree of certainty, the final outcome of such known matters will not, based upon all available information, have a material adverse effect on the Company's condensed consolidated financial position, results of operations or cash flows.

Note 9.  Related Party Transactions
Emmett J. Wood, the brother of our Chairman and CEO, has been an employee of the Company since 1996. The amounts paid to this individual as compensation were $106,000 and $392,000 for the three and nine months ended September 30, 2018, respectively, and $77,000 and $420,000 for the three and nine months ended September 30, 2017, respectively. Additionally, as of September 30, 2018 and December 31, 2017, Mr. Wood owned 810,000 shares of the Company's Class A Common Stock and 50,000 shares of the Company's Class B Common Stock.

On March 31, 2015, the Company entered into the Porter Notes. Mr. Porter and Toxford Corporation, of which Mr. Porter is the sole shareholder, own 35.0% of our Class A Common Stock. Under the terms of the Porter Notes, Porter lent the Company $2.5 million on or about March 31, 2015. According to the terms of the Porter Notes, the outstanding principal sum bears interest at the fixed rate of twelve percent (12%) per annum which would be payable in arrears in cash on the 20th day of each May, August, November and February, with the first interest payment date due on August 20, 2015. The Porter Notes do not call for amortization payments and are unsecured. The Porter Notes, in whole or in part, may be repaid at any time without premium or penalty. The unpaid principal, together with interest, was originally due and payable in full on July 1, 2017. 

On April 18, 2017, we amended and restated the Porter Notes to reduce the interest rate from twelve percent (12%) to six percent (6%) per annum, to be accrued, and extends the maturity date from July 1, 2017 to July 25, 2022. Telos also entered into the Intercreditor Agreements with Porter and EnCap, in which the Porter Notes are fully subordinated to the Credit Agreement and any subsequent senior lenders (including Action Capital), and payments under the Porter Notes are permitted only if certain conditions are met. All other terms remain in full force and effect. We incurred interest expense in the amount of $78,000 and $229,000 for the three and nine months ended September 30, 2018, respectively, and $99,000 and $218,000 for the three and nine months ended September 30, 2017, respectively, on the Porter Notes. As a result of the amendment and restatement of the Porter Notes, we recorded a gain on extinguishment of debt of approximately $1 million, which consisted of the remeasurement of the debt at fair value. As the extinguishment was with a related party, the transaction was deemed to be a capital transaction and the gain was recorded in the Company's stockholders' deficit as of December 31, 2017.

Item 2.    Management's Discussion and Analysis of Financial Condition and Results of Operations
 
Forward-Looking Statements
  This Quarterly Report on Form 10-Q contains forward-looking statements. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects" and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated by such forward-looking statements. These factors include, without limitation, those set forth in the risk factors section included in the Company's Form 10-K for the year ended December 31, 2017, as filed with the SEC.

General
Our goal is to deliver superior IT solutions that meet or exceed our customers' expectations. We focus on secure enterprise solutions that address the unique requirements of the federal government, the military, and the intelligence community, as well as commercial enterprises that require secure solutions. Our IT solutions consist of the following:

●
Cyber Operations and Defense ("CO&D"):
o
Cyber Security – Solutions and services that assure the security of our customers' information, systems, and networks, including the Xacta suite for IT governance, risk management, and compliance. Our information and cyber security consulting services include security assessments, digital forensics, and continuous compliance monitoring.

o
Secure Mobility – Design, engineering and delivery of secure solutions that empower the mobile and deployed workforce in business and government.  Our solutions protect sensitive communication while delivering voice, data, and video at the point of work in classified and unclassified environments.

●
Identity Management – Solutions that establish trusted identities in order to ensure authenticated physical access to offices, workstations, and other facilities; secure digital access to databases, host systems, and other IT resources; and protect people and organizations against insider threats.

●
IT and Enterprise Solutions – We have the experience with solution development and global integration to meet the requirements of business and government enterprises with secure IT solutions, from organizational messaging and data visualization to network construction and management.

Backlog
Many of our contracts with the U.S. Government are funded year to year by the procuring U.S. Government agency as determined by the fiscal requirements of the U.S. Government and the respective procuring agency. Such a contracting process results in two distinct categories of backlog:  funded and unfunded.  Total backlog consists of the aggregate contract revenues remaining to be earned by us at a given time over the life of our contracts, whether funded or not.  Funded backlog consists of the aggregate contract revenues remaining to be earned by us at a given time, but only to the extent, in the case of U.S. Government contracts, when funded by the procuring U.S. Government agency and allotted to the specific contracts.  Unfunded backlog is the difference between total backlog and funded backlog.  Included in unfunded backlog are revenues which may be earned only when and if customers exercise delivery orders and/or renewal options to continue such existing contracts.

A number of contracts that we undertake extend beyond one year, and accordingly portions of contracts are carried forward from one year to the next as part of the backlog. Because many factors affect the scheduling and continuation of projects, no assurance can be given as to when revenue will be realized on projects included in our backlog.

At September 30, 2018 and 2017, we had total backlog from existing contracts of approximately $303.9 million and $153.2 million, respectively.  Such backlog was $256.3 million at December 31, 2017. Such amounts are the maximum possible value of additional future orders for systems, products, maintenance and other support services presently allowable under those contracts, including renewal options available on the contracts if fully exercised by the customer.
 
Funded backlog as of September 30, 2018 and 2017 was $91.1 million and $92.5 million, respectively. Funded backlog was $98.5 million at December 31, 2017.
 
While backlog remains a measurement consideration, in recent years we, as well as other U.S. Government contractors, experienced a material change in the manner in which the U.S. Government procures equipment and services. These procurement changes include the growth in the use of General Services Administration ("GSA") schedules which authorize agencies of the U.S. Government to purchase significant amounts of equipment and services. The use of the GSA schedules results in a significantly shorter and much more flexible procurement cycle, as well as increased competition with many companies holding such schedules. Along with the GSA schedules, the U.S. Government is awarding a large number of omnibus contracts with multiple awardees. Such contracts generally require extensive marketing efforts by the multiple awardees to procure such business. The use of GSA schedules and omnibus contracts, while generally not providing immediate backlog, provide areas of growth that we continue to aggressively pursue.

Consolidated Results of Operations (Unaudited)
The accompanying condensed consolidated financial statements include the accounts of Telos Corporation and its subsidiaries including Ubiquity.com, Inc., Xacta Corporation, and Teloworks, Inc., all of whose issued and outstanding share capital is owned by Telos Corporation (collectively, the "Company" or "Telos" or "We"). We have also consolidated the results of operations of Telos ID (see Note 2 – Non-controlling Interests). All intercompany transactions have been eliminated in consolidation.

Our operating cycle involves many types of solutions, product and service contracts with varying delivery schedules. Accordingly, results of a particular quarter, or quarter-to-quarter comparisons of recorded sales and operating profits, may not be indicative of future operating results and the following comparative analysis should therefore be viewed in such context.
 
Our revenues are generated from a number of contract vehicles and task orders. Over the past several years we have sought to diversify and improve our operating margins through an evolution of our business from an emphasis on product reselling to that of an advanced solutions technologies provider. To that end, although we continue to offer resold products through our contract vehicles, we have focused on selling solutions and outsourcing product sales, as well as designing and delivering Telos manufactured and branded technologies.  We believe our contract portfolio is characterized as having low to moderate financial risk due to the limited number of long-term fixed price development contracts. Our firm fixed-price activities consist principally of contracts for the products and services at established contract prices. Our time-and-material contracts generally allow the pass-through of allowable costs plus a profit margin.

We provide different solutions and are party to contracts of varying revenue types under the NETCENTS (Network-Centric Solutions) and NETCENTS-2 contracts to the U.S. Air Force. NETCENTS and NETCENTS-2 are indefinite delivery/indefinite quantity ("IDIQ") and government-wide acquisition contracts ("GWAC"), therefore any government customer may utilize the NETCENTS and NETCENTS-2 vehicles to meet its purchasing needs. Consequently, revenue earned on the underlying NETCENTS and NETCENTS-2 delivery orders varies from period to period according to the customer and solution mix for the products and services delivered during a particular period, unlike a standalone contract with one separately identified customer. The contracts themselves do not fund any orders and they state that the contracts are for an indefinite delivery and indefinite quantity. The majority of our task/delivery orders have periods of performance of less than 12 months, which contributes to the variances between interim and annual reporting periods. The period of performance for the original NETCENTS contract ended on September 30, 2013. Previously awarded task orders that contain periods of performance that extended past September 30, 2013, including exercisable option years under existing task orders, were not affected by the contract expiration. We were selected for an award on the NETCENTS replacement contract, NETCENTS-2 Network Operations and Infrastructure Solutions Small Business Companion, on March 27, 2014. Although no protest was filed over the Telos contract award, protests filed by other bidders resulted in a recommendation by the Government Accountability Office ("GAO") that the U.S. Air Force re-evaluate proposals and make a new source selection decision. Subsequent to the Air Force's reevaluation of the NETCENTS-2 procurement related to the protests, we were selected for an award on April 3, 2015 and the contract was opened for issuance of new orders in May 2015. We have also been awarded other IDIQ/GWACs, including the Department of Homeland Security's EAGLE II, GSA Alliant 2, and blanket purchase agreements under our GSA schedule. However, we have not been awarded significant delivery orders under EAGLE II, or GSA Alliant 2 as it was not ready for agencies to use until July 1, 2018.

On October 13, 2016, we were notified that we were not awarded the re-compete of a contract within our Cyber Operations & Defense area for a government agency that we had bid as part of a joint venture. The contract had a total funded value of over $22 million over the prior three years and accounted for approximately 6% of revenue for 2016. The joint venture filed a protest of the award to another bidder with the GAO on October 24, 2016, which denied the protest on February 2, 2017. The joint venture then filed a claim with the COFC on February 10, 2017, together with a motion seeking to stay and enjoin the transition of the contract. The COFC denied the requests for injunctive relief on February 14, 2017, but initiated a one-month extension on the current contract so as to allow the CODC to address the joint venture's protest, hold a hearing and issue a decision in advance of any final contract transition. On April 27, 2017, the COFC issued a final decision in favor of the government.  The period of performance on the contract ended on May 2, 2017.

On September 28, 2018 the Department of Defense and Labor, Health and Human Services, and Education Appropriations Act, 2019 and Continuing Appropriations Act, 2019 (the Appropriations Act) was passed by Congress and signed into law. The Appropriations Act provides discretionary funding for the Department of Defense (DoD) and the other titled agencies for fiscal year (FY) 2019 (the U.S. Government's fiscal year begins on October 1 and ends on September 30). The Appropriations Act provides funding for the DoD for FY 2019 of $674.4 billion and the previously enacted Military Construction and Veteran's Affairs appropriations provides additional funding for the DoD for FY 2019 of $10.3 billion, bringing total funding for the DoD for FY 2019 to $685 billion, which is comprised of $617 billion in base funding and $68 billion for the Overseas Contingency Operations (OCO) account to support the Global War on Terrorism (GWOT). The Appropriations Act adheres to the recently enacted Bipartisan Budget Act of 2018 (BBA of 2018), which provided an additional $80 billion for national defense over two years in FY 2018 and FY 2019. This was the largest year over year increase in base funding for the DoD in 15 years. Additionally, the Appropriations Act included a continuing resolution which funds the remainder of the U.S. Government agencies and departments through December 7, 2018.

Currently, U.S. defense spending in FY 2020 and FY 2021 remains subject to statutory spending limits established by the Budget Control Act. The Budget Control Act spending limits were modified for fiscal years 2013 through 2019 by the American Taxpayer Relief Act of 2012, the Bipartisan Budget Act of 2013, the Bipartisan Budget Act of 2015, and most recently the BBA of 2018. However, these acts do not alter the spending limits beyond FY 2019. As currently enacted, the Budget Control Act limits defense spending to $576 billion (including approximately $550 billion for DoD) for fiscal year 2020 with a modest increase to $590 billion (including approximately $563 billion for DoD) in 2021. The President's defense budget estimates for FY 2020 and beyond exceed the spending limits established by the Budget Control Act. As a result, continued budget uncertainty and the risk of future sequestration cuts remain unless the BCA is repealed or significantly modified.

We anticipate there will continue to be a significant amount of debate and negotiations within the U.S. Government over federal and defense spending. In the context of these negotiations, it is possible that government programs could be modified, cut or replaced as part of broader reforms to reduce the federal deficit.

The principal element of the Company's operating expenses as a percentage of sales for the three and nine months ended September 30, 2018 and 2017 are as follows:

 
(unaudited)
 
Three Months Ended September 30,
  
Nine Months Ended September 30,
 
2018
  
2017
  
2018
  
2017
               
Revenue
100.0%
  
   100.0%
  
100.0%
  
   100.0%
Cost of sales
53.1
  
67.2
  
62.2
  
65.4
Selling, general, and administrative expenses
28.4
  
32.9
  
29.4
  
38.2
               
Operating income (loss)
18.5
  
(0.1)
  
8.4
  
(3.6)
               
Other income
----
  
----
  
----
  
----
Interest expense
(4.9)
  
(6.1)
  
(5.0)
  
(6.9)
               
Income (loss) before income taxes
13.6
  
(6.2)
  
3.4
  
(10.5)
Benefit (provision) for income taxes
0.3
  
(0.7)
  
----
  
(0.7)
Net income (loss)
13.9
  
(6.9)
  
3.4
  
(11.2)
Less:  Net income attributable to non-controlling interest
(2.1)
  
(3.8)
  
(1.4)
  
(2.0)
Net income (loss) attributable to Telos Corporation
11.8%
  
  (10.7)%
  
2.0%
  
    (13.2)%

Three Months Ended September 30, 2018 Compared with Three Months Ended September 30, 2017
Revenue increased by 22.8% to $34.7 million for the third quarter of 2018, from $28.2 million for the same period in 2017. Services revenue increased to $32.1 million for the third quarter of 2018 from $19.1 million for the same period in 2017, primarily attributable to increases in sales of $8.2 million of CO&D's Secure Mobility deliverables which included $5.6 million of revenue accruals for multiple contracts as a result of several years of cumulative indirect rate adjustments, $2.3 million of CO&D's Cyber Security deliverables, and $2.4 million of Identity Management solutions. The change in product and services revenue varies from period to period depending on the mix of solutions sold and the nature of such solutions, as well as the timing of deliverables. Product revenue decreased to $2.6 million for the third quarter of 2018 from $9.1 million for the same period in 2017, primarily attributable to decreases in sales of $6.1 million of Identity Management solutions, $1.1 million of CO&D's Secure Mobility resold product deliverables, offset by an increase in sales of $0.7 million of CO&D's Cyber Security proprietary software deliverables.

Cost of sales decreased to $18.4 million for the third quarter of 2018 from $19.0 million for the same period in 2017, primarily due to a decreased cost of sales as a percentage of revenue of 14.1%. Cost of sales for services increased by $4.9 million, and as a percentage of services revenue decreased by 10.3%, primarily due to the revenue accruals related to indirect rate adjustments discussed above which did not include direct costs in CO&D's Secure Mobility deliverables. Cost of sales for products decreased by $5.5 million, and as a percentage of product revenue decreased by 26.4% due primarily to an increase in proprietary software sales which carry lower cost of sales. The decrease in cost of sales as a percentage of revenue is not necessarily indicative of a trend as the mix of solutions sold and the nature of such solutions can vary from period to period, and further can be affected by the timing of deliverables.

Gross profit increased by 75.8% to $16.3 million for the third quarter of 2018 from $9.3 million for the same period in 2017. Gross margin increased to 46.9% in the third quarter of 2018, from 32.8% for the same period in 2017. Services gross margin increased to 46.5% in 2018 from 36.3% in 2017, primarily due to the revenue accruals related to indirect rate adjustments discussed above, and product gross margin increased to 51.9% in 2018 from 25.5% in 2017, due primarily to an increase in proprietary software sales.

Selling, general, and administrative expense (SG&A) increased by 6.0% to $9.9 million for the third quarter of 2018 from $9.3 million for the same period in 2017, primarily attributable to the capitalization and related amortization of software development costs of $0.1 million, and the increases in accrued bonuses of $0.6 million, legal fees of $0.2 million, offset by the decreases in outside services of $0.2 million, and trade shows expenses of $0.1 million.

Operating income was $6.4 million for the third quarter of 2018, compared to an operating loss of $34,000 for the same period in 2017, due primarily to an increase in gross profit as noted above.

Interest expense was $1.7 million for both the third quarter of 2018 and 2017.

Income tax benefit was $106,000 for the third quarter of 2018, compared to income tax provision of $211,000 for the same period in 2017, which is based on the estimated annual effective tax rate applied to the pretax income incurred for the quarter, based on our expectation of pretax loss for the fiscal year.

Net income attributable to Telos Corporation was $4.1 million for the third quarter of 2018, compared to net loss of $3.0 million for the same period in 2017, primarily attributable to the increase in operating income for the quarter as discussed above.

Nine Months Ended September 30, 2018 Compared with Nine Months Ended September 30, 2017
Revenue increased by 40.8% to $102.0 million for the nine months ended September 30, 2018 from $72.5 million in the same period in 2017. Services revenue increased to $91.7 million for the nine months ended September 30, 2018 from $57.2 million for the same period in 2017, primarily attributable to increases in sales of $21.2 million of CO&D's Secure Mobility deliverables, which included $5.6 million of revenue accruals for multiple contracts as a result of several years of cumulative indirect rate adjustments, $8.1 million of Identity Management solutions, $5.1 million of CO&D's Cyber Security deliverables, and $0.1 million of IT & Enterprise solutions. The change in product and services revenue varies from period to period depending on the mix of solutions sold and the nature of such solutions, as well as the timing of deliverables. Product revenue decreased to $10.3 million for the nine months ended September 30, 2018 from $15.2 million for the same period in 2017, primarily attributable to decreases in sales of $6.4 million of Identity Management solutions, $1.5 million of CO&D's Secure Mobility deliverables, and $1.0 million of IT & Enterprise solutions, offset by an increase in $3.9 million of CO&D's Cyber Security proprietary software deliverables.

Cost of sales increased by 34.0% to $63.4 million for the nine months ended September 30, 2018 from $47.4 million for the same period in 2017, primarily due to increases in revenue of $29.6 million, coupled with a decreased cost of sales as a percentage of revenue of 3.2%. Cost of sales for services increased by $22.0 million, and as a percentage of services revenue decreased by 0.6%, primarily due to the revenue accruals related to indirect rate adjustments discussed above which did not include direct costs. Cost of sales for products decreased by $5.8 million, and as a percentage of product revenue decreased by 24.7% due primarily to an increase in proprietary software sales which carry lower cost of sales. The decrease in cost of sales as a percentage of revenue is not necessarily indicative of a trend as the mix of solutions sold and the nature of such solutions can vary from period to period, and further can be affected by the timing of deliverables.

Gross profit increased by 53.8% to $38.6 million for the nine months ended September 30, 2018 from $25.1 million compared to the same period in 2017, due primarily to the change in the mix of the solutions sold as discussed above.  Gross margin increased to 37.8% for the nine months ended September 30, 2018, from 34.6% in the same period in 2017, primarily due to the revenue accruals related to indirect rate adjustments discussed above.

SG&A expense increased by 8.5% to $30.0 million for the nine months ended September 30, 2018 from $27.7 million for the same period in 2017, primarily attributable to the capitalization and related amortization of software development costs of $0.5 million, and the increases in accrued bonuses of $1.1 million, labor costs of $0.7 million, legal fees of $0.3 million, and trade shows expenses of $0.2 million, offset by a decrease in outside services of $0.6 million.

Operating income was $8.6 million for the nine months ended September 30, 2018, compared to an operating loss of $2.6 million for the same period in 2017, due primarily to an increase in gross profit offset by an increase in SG&A as noted above.

Interest expense increased by 2.2% to $5.1 million for the nine months ended September 30, 2018, from $5.0 million for the same period in 2017, primarily due to an increase in interest on the EnCap senior term loan.

Income tax benefit was $41,000 for the nine months ended September 30, 2018, compared to income tax provision of $529,000 for the same period in 2017, which is based on the estimated annual effective tax rate applied to the pretax income for the nine month period, adjusted for the income tax provision previously provided, based on our expectation of pretax loss for the fiscal year.

Net income attributable to Telos Corporation was $2.0 million for the nine months ended September 30, 2018, compared to net loss of $9.5 million for the same period in 2017, primarily attributable to the increase in operating income as discussed above.

Liquidity and Capital Resources
As described in Note 5 – Current Liabilities and Debt Obligations, we maintain a Credit Agreement with EnCap, a Purchase Agreement with RCA and a Financing Agreement with Action Capital. The willingness of RCA to purchase our accounts receivable under the Purchase Agreement and of Action Capital to make advances under the Financing Agreement, and our ability to obtain additional financing, may be limited due to various factors, including the eligibility of our receivables, the status of our business, global credit market conditions, and perceptions of our business or industry by EnCap, RCA, Action Capital, or other potential sources of financing. If we are unable to maintain the Purchase Agreement and the Financing Agreement, we would need to obtain additional credit to fund our future operations. If credit is available in that event, lenders may impose more restrictive terms and higher interest rates that may reduce our borrowing capacity, increase our costs, or reduce our operating flexibility. The failure to maintain, extend, renew or replace the Purchase Agreement and the Financing Agreement with a comparable arrangement or arrangements that provide similar amounts of liquidity for the Company would have a material negative impact on our overall liquidity, financial and operating results.

While a variety of factors related to sources and uses of cash, such as timeliness of accounts receivable collections, vendor credit terms, or significant collateral requirements, ultimately impact our liquidity, such factors may or may not have a direct impact on our liquidity, based on how the transactions associated with such circumstances impact our availability under our credit arrangements. For example, a contractual requirement to post collateral for a duration of several months, depending on the materiality of the amount, could have an immediate negative effect on our liquidity, as such a circumstance would utilize cash resources without a near-term cash inflow back to us. Likewise, the release of such collateral could have a corresponding positive effect on our liquidity, as it would represent an addition to our cash resources without any corresponding near-term cash outflow. Similarly, a slow-down of payments from a customer, group of customers or government payment office would not have an immediate and direct effect on our availability unless the slowdown was material in amount and over an extended period of time. Any of these examples would have an impact on our cash resources, our financing arrangements, and therefore ultimately our liquidity.

Management may determine that, in order to reduce capital and liquidity requirements, planned spending on capital projects and indirect expense growth may be curtailed, subject to growth in operating results. Additionally, management may seek to put in place a credit facility with a commercial bank, although no assurance can be given that such a facility could be put in place under terms acceptable to the Company. Should management determine that additional capital is required, management would likely look first to the sources of funding discussed above to meet any requirements, although no assurances can be given that these investors would be able to invest or that the Company and the investors would agree upon terms for such investments.

Our working capital was $4.0 million and $(4.1) million as of September 30, 2018 and December 31, 2017, respectively. Although no assurances can be given, we expect that our financing arrangements with EnCap, RCA and Action Capital, collectively, and funds generated from operations are sufficient to maintain the liquidity we require to meet our operating, investing and financing needs for the next 12 months.

Cash provided by operating activities was $4.5 million for the nine months ended September 30, 2018, compared to $2.9 million cash used in operating activities for the same period in 2017. Cash provided by or used in operating activities is primarily driven by the Company's operating income, the timing of receipt of customer payments, the timing of its payments to vendors and employees, and the timing of inventory turnover, adjusted for certain non-cash items that do not impact cash flows from operating activities. Additionally, net income was $3.5 million for the nine months ended September 30, 2018, compared to net loss of $8.1 million for the nine months ended September 30, 2017.

Cash used in investing activities was approximately $2.8 million and $1.6 million for the nine months ended September 30, 2018 and 2017, respectively, due to the capitalization of software development costs of $1.3 million and $1.1 million for the nine months ended September 30, 2018 and 2017, respectively, and the purchase of property and equipment of $1.5 million and $0.4 million for the nine months ended September 30, 2018 and 2017, respectively.

Cash used in financing activities for the nine months ended September 30, 2018 was $1.9 million, compared to $4.1 million cash provided by financing activities for the same period in 2017, primarily attributable to the distribution of $1.1 million to the Telos ID Class B member for the nine months ended September 30, 2018, compared to the proceeds of $9.4 million from the EnCap senior term loan, offset by distribution of $2.6 million to the Telos ID Class B member, and the redemption of $2.1 million senior preferred stock for the nine months ended September 30, 2017.

Additionally, our capital structure consists of redeemable preferred stock and common stock. The capital structure is complex and requires an understanding of the terms of the instruments, certain restrictions on scheduled payments and redemptions of the various instruments, and the interrelationship of the instruments especially as it relates to the subordination hierarchy. Therefore, a thorough understanding of how our capital structure impacts our liquidity is necessary and accordingly we have disclosed the relevant information about each instrument as follows:

Enlightenment Capital Credit Agreement
On January 25, 2017, we entered into a Credit Agreement (the "Credit Agreement") with Enlightenment Capital Solutions Fund II, L.P., as agent (the "Agent"), and the lenders party thereto (the "Lenders"), (together referenced as "EnCap"). The Credit Agreement provides for an $11 million senior term loan (the "Loan") with a maturity date of January 25, 2022, subject to acceleration in the event of customary events of default.

All borrowings under the Credit Agreement accrue interest at the rate of 13.0% per annum (the "Accrual Rate"). If, at the request of the Company, the Agent executes an intercreditor agreement with another senior lender under which the Agent and the Lenders subordinate their liens (an "Alternative Interest Rate Event"), the interest rate will increase to 14.5% per annum. After the occurrence and during the continuance of any event of default, the interest rate will increase 2.0%. The Company is obligated to pay accrued interest in cash on a monthly basis at a rate of not less than 10.0% per annum or, during the continuance of an Alternate Interest Rate Event, 11.5% per annum. The Company may elect to pay the remaining interest in cash, by payment-in-kind (by addition to the principal amount of the Loan) or by combination of cash and payment-in-kind. Upon thirty days prior written notice, the Company may prepay any portion or the entire amount of the Loan.

An amount of approximately $1.1 million was netted from the proceeds on the Loan as a prepayment of all interest due and payable at the Accrual Rate during the period from January 25, 2017 to October 31, 2017. A separate fee letter executed by the Company and the Agent, dated January 25, 2017, sets forth the fees payable to the Agent in connection with the Credit Agreement.

The Credit Agreement contains representations, warranties, covenants, terms and conditions customary for transactions of this type. In connection with the Credit Agreement, the Agent has been granted, for the benefit of the Lenders, a security interest in and general lien upon various property of the Company, subject to certain permitted liens and any intercreditor agreement. The occurrence of an event of default under the Credit Agreement could result in the Loan and other obligations becoming immediately due and payable and allow the Lenders to exercise all rights and remedies available to them under the Credit Agreement or as a secured party under the UCC, in addition to all other rights and remedies available to them.

In connection with the Credit Agreement, on January 25, 2017, the Company issued warrants (each, a "Warrant") to Agent and certain of the Lenders representing in the aggregate the right to purchase in accordance with their terms 1,135,284.333 shares of the Class A Common Stock of the Company, no par value per share, which is equivalent to approximately 2.5% of the common equity interests of the Company on a fully diluted basis. The exercise price is $1.321 per share and each Warrant expires on January 25, 2027. The value of the warrants were determined to be de minimis and no value was allocated to them on a relative fair value basis in accounting for the debt instrument.

Effective February 23, 2017, the Credit Agreement was amended to change the required timing of certain post-closing items to allow for more time to complete the legal and administrative requirements around such items. On April 18, 2017, the Credit Agreement was further amended (the "Second Amendment") to incorporate the parties' agreement to subordinate certain debt owed by the Company to the affiliated entities of Mr. John R. C. Porter (the "Subordinated Debt") and to redeem all outstanding shares of the Series A-1 Redeemable Preferred Stock and the Series A-2 Redeemable Preferred Stock, including those owned by Mr. John R.C. Porter and his affiliates, for an aggregate redemption price of $2.1 million.

In connection with the Second Amendment and that subordination of debt, on April 18, 2017, we also entered into Subordination and Intercreditor Agreements (the "Intercreditor Agreements") with affiliated entities of Mr. John R. C. Porter (together referenced as "Porter"), in which Porter agreed that the Subordinated Debt is fully subordinated to the amended Credit Agreement and related documents, and that required payments, if any, under the Subordinated Debt are permitted only if certain conditions are met.

The Credit Agreement also includes an $825,000 exit fee, which is payable upon any repayment or prepayment of the loan. This amount has been included in the total principal due and treated as an unamortized discount on the debt, which will be amortized over the term of the loan, using the effective interest method at a rate of 15.0%. We incurred fees and transaction costs of approximately $374,000 related to the issuance of the Credit Agreement, which are being amortized over the life of the Credit Agreement.

On March 30, 2018, the Credit Agreement was amended (the "Third Amendment") to waive any actual or potential non-compliance with covenants in 2017 and to reset the covenants for 2018 measurement periods to more accurately reflect the Company's projected performance for the year. The measurement against the covenants for consolidated leverage ratio and consolidated fixed charge coverage ratio were agreed to not be measured as of December 31, 2017 and were reset for 2018 measurement periods. Additionally, a minimum revenue covenant and a net working capital covenant were added. In consideration of these amendments, the interest rate on the loan was increased by 1%, which will revert back to the original rate upon achievement of two consecutive quarters of a specified fixed charge coverage ratio as defined in the agreement. The Company may elect to pay the increase in interest expense in cash or by payment-in-kind (by addition to the principal amount of the Loan).  The increase in interest expense was paid in cash during the three months ended September 30, 2018. Contemporaneously with the Third Amendment, Mr. Wood agreed to transfer 50,000 shares of the Company's Class A Common Stock owned by him to EnCap. As of September 30, 2018, we were in compliance with the Credit Agreement's financial covenants.

We incurred interest expense in the amount of $0.4 million and $1.3 million for the three and nine months ended September 30, 2018, respectively, and $0.4 million and $1.1 million for the three and nine months ended September 30, 2017, respectively, under the Credit Agreement.

Accounts Receivable Purchase Agreement
On July 15, 2016, we entered into an Accounts Receivable Purchase Agreement (the "Purchase Agreement") with Republic Capital Access, LLC ("RCA" or "Buyer"), pursuant to which we may offer for sale, and RCA, in its sole discretion, may purchase, eligible accounts receivable relating to U.S. Government prime contracts or subcontracts of the Company (collectively, the "Purchased Receivables"). Upon purchase, RCA becomes the absolute owner of any such Purchased Receivables, which are payable directly to RCA, subject to certain repurchase obligations of the Company. The total amount of Purchased Receivables is subject to a maximum limit of $10 million of outstanding Purchased Receivables (the "Maximum Amount") at any given time. The Purchase Agreement had an initial term expiring on June 30, 2018 and automatically renews for successive 12-month renewal periods unless terminated in writing by either the Company or RCA. On March 2, 2018, the term of the Purchase Agreement was extended to June 30, 2020. No fee or consideration of any kind was paid in connection with this extension.

The initial purchase price of a Purchased Receivable is equal to 90% of the face value of the receivable if the account debtor is an agency of the U.S. Government, and 85% if the account debtor is not an agency of the U.S. Government; provided, however, that RCA has the right to adjust these initial purchase price rates in its sole discretion. After collection by RCA of the portion of a Purchased Receivable in excess of the initial purchase price, RCA shall pay the Company the residual 10% or 15% of such Purchased Receivable, as appropriate, less (i) a discount factor equal to 0.30%, for federal government prime contracts (or 0.56% for non-federal government investment grade account obligors or 0.62% for non-federal government non-investment grade account obligors) of the face amounts of Purchased Receivables; (ii) a program access fee equal to 0.008% of the daily ending account balance for each day that Purchased Receivable are outstanding; (iii) a commitment fee equal to 1% per annum of Maximum Amount minus the amount of Purchased Receivables outstanding; and (iv) fees, costs and expenses relating to the preparation, administration and enforcement of the Purchase Agreement and any other related agreements.

The Purchase Agreement provides that in the event, but only to the extent, that the conveyance of Purchased Receivables by the Company is characterized by a court or other governmental authority as a loan rather than a sale, the Company shall be deemed to have granted RCA, effective as of the date of the first purchase under the Purchase Agreement, a security interest in all of the Company's right, title and interest in, to and under all of the Purchased Receivables, whether now or hereafter owned, existing or arising.

The Company provides a power of attorney to RCA to take certain actions in the Company's stead, including (a) to sell, assign or transfer in whole or in part any of the Purchased Receivables; (b) to demand, receive and give releases to any account debtor with respect to amounts due under any Purchased Receivables; (c) to notify all account debtors with respect to the Purchased Receivables; and (d) to take any actions necessary to perfect RCA's interests in the Purchased Receivables.

The Company is liable to Buyer for any fraudulent statements and all representations, warranties, covenants, and indemnities made by the Company pursuant to the terms of the Purchase Agreement. It is considered an event of default if (a) the Company fails to pay any amounts it owes to RCA when due (subject to a cure period); (b) the Company has voluntary or involuntary bankruptcy proceedings commenced by or against it; (c) the Company is no longer solvent or is generally not paying its debts as they become due; (d) any voluntary liens, garnishments, attachments, or the like are issued against or attach to the Purchased Receivables; (e) the Company breaches any warranty, representation, or covenant (subject to a cure period); (f) the Company is not in compliance or has otherwise defaulted under any document or obligation in favor of RCA or an RCA affiliate; or (g) the Purchase Agreement or any material provision terminates (other than in accordance with the terms of the Purchase Agreement) or ceases to be effective or to be a binding obligation of the Company. If any such event of default occurs, then RCA may take certain actions, including ceasing to buy any eligible receivables, declaring any indebtedness or other obligations immediately due and payable, or terminating the Purchase Agreement.

Financing and Security Agreement
On July 15, 2016, we entered into a Financing and Security Agreement (the "Financing Agreement") with Action Capital Corporation ("Action Capital"), pursuant to which Action Capital agreed to provide the Company with advances of up to 90% of the net amount of certain acceptable customer accounts of the Company that have been assigned as collateral to Action Capital (the "Acceptable Accounts"). The maximum outstanding principal amount of advances under the Financing Agreement was $5 million. The Financing Agreement has a term of two years, provided that the Company may terminate it at any time without penalty upon written notice. On August 13, 2018, the Financing Agreement was extended through January 2, 2019. No fee or consideration of any kind was paid in connection with this extension.

The Company shall pay Action Capital interest on the advances outstanding under the Financing Agreement at a rate equal to the prime rate of Wells Fargo Bank, N.A. in effect on the last business day of the prior month plus 2%, and a monthly fee equal to 0.50%. All interest calculations are based on a year of 360 days. The Company's obligations under the Financing Agreement are secured by certain assets of the Company pertaining to the Acceptable Accounts, including all accounts, accounts receivable, earned and unbilled revenue, contract rights, chattel paper, documents, instruments, general intangibles, reserves, reserve accounts, rebates, books and records, and all proceeds of the foregoing.

Pursuant to the terms of the Financing Agreement, Action Capital shall have full recourse against the Company when an Acceptable Account is not paid in full by the respective customer within 90 days of the date of purchase or if for any reason it ceases to be an Acceptable Account, including the right to charge-back any such Acceptable Account. It is considered an event of default if the Company breaches any covenant or warranty, knowingly provides false or incorrect material information to Action Capital, or otherwise defaults on any of its material obligations under the Financing Agreement or any other material agreements with Action Capital (subject to a cure period). If any such events of default occur, then Action Capital may take certain actions, including declaring any indebtedness immediately due and payable, requiring any customers with Acceptable Accounts to make payments directly to Action Capital, exercising its power of attorney from the Company to take actions in the Company's stead with respect to any of Company's Acceptable Accounts, or terminating the Financing Agreement.

As of September 30, 2018, there were no outstanding borrowings under the Financing Agreement.

Subordinated Debt
On March 31, 2015, the Company entered into Subordinated Loan Agreements and Subordinated Promissory Notes ("Porter Notes") with affiliated entities of Mr. John R. C. Porter (together referenced as "Porter"). Mr. Porter and Toxford Corporation, of which Mr. Porter is the sole shareholder, own 35.0% of our Class A Common Stock. Under the terms of the Porter Notes, Porter lent the Company $2.5 million on or about March 31, 2015. According to the terms of the Porter Notes, the outstanding principal sum bears interest at the fixed rate of twelve percent (12%) per annum which would be payable in arrears in cash on the 20th day of each May, August, November and February, with the first interest payment date due on August 20, 2015. The Porter Notes do not call for amortization payments and are unsecured. The Porter Notes, in whole or in part, may be repaid at any time without premium or penalty. The unpaid principal, together with interest, was originally due and payable in full on July 1, 2017.

 On April 18, 2017, we amended and restated the Porter Notes to reduce the interest rate from twelve percent (12%) to six percent (6%) per annum, to be accrued, and extended the maturity date from July 1, 2017 to July 25, 2022. Telos also entered into the Intercreditor Agreements with Porter and EnCap, in which the Porter Notes are fully subordinated to the Credit Agreement and any subsequent senior lenders (including Action Capital), and payments under the Porter Notes are permitted only if certain conditions are met. All other terms remain in full force and effect. We incurred interest expense in the amount of $78,000 and $229,000 for the three and nine months ended September 30, 2018, respectively, and $99,000 and $218,000 for the three and nine months ended September 30, 2017, respectively, on the Porter Notes. As a result of the amendment and restatement of the Porter Notes, we recorded a gain on extinguishment of debt of approximately $1 million, which consisted of the remeasurement of the debt at fair value. As the extinguishment was with a related party, the transaction was deemed to be a capital transaction and the gain was recorded in the Company's stockholders' deficit as of December 31, 2017.

Public Preferred Stock  
A maximum of 6,000,000 shares of the Public Preferred Stock, par value $.01 per share, has been authorized for issuance. We initially issued 2,858,723 shares of the Public Preferred Stock pursuant to the acquisition of the Company during fiscal year 1990. The Public Preferred Stock was recorded at fair value on the date of original issue, November 21, 1989, and we made periodic accretions under the interest method of the excess of the redemption value over the recorded value. We adjusted our estimate of accrued accretion in the amount of $1.5 million in the second quarter of 2006.  The Public Preferred Stock was fully accreted as of December 2008.  We declared stock dividends totaling 736,863 shares in 1990 and 1991. Since 1991, no other dividends, in stock or cash, have been declared. In November 1998, we retired 410,000 shares of the Public Preferred Stock. The total number of shares issued and outstanding at September 30, 2018 and December 31, 2017 was 3,185,586. The Public Preferred Stock is quoted as "TLSRP" on the OTCQB marketplace and the OTC Bulletin Board.

 Since 1991, no dividends were declared or paid on our Public Preferred Stock, based upon our interpretation of restrictions in our Articles of Amendment and Restatement, limitations in the terms of the Public Preferred Stock instrument, specific dividend payment restrictions in the Credit Agreement and the Porter Notes to which the Public Preferred Stock is subject, other senior obligations currently or previously in existence, and Maryland law limitations in existence prior to October 1, 2009. Subsequent to the 2009 Maryland law change, dividend payments continue to be prohibited except under certain specific circumstances as set forth in Maryland Code Section 2-311, which the Company did not satisfy as of the measurement dates. Pursuant to the terms of the Articles of Amendment and Restatement, we were scheduled, but not required, to redeem the Public Preferred Stock in five annual tranches during the period 2005 through 2009. However, due to our substantial senior obligations currently or previously in existence, limitations set forth in the covenants in the Credit Agreement and the Porter Notes, foreseeable capital and operational requirements, and restrictions and prohibitions of our Articles of Amendment and Restatement, we were and remain unable to meet the redemption schedule set forth in the terms of the Public Preferred Stock as of the measurement dates. Moreover, the Public Preferred Stock is not payable on demand, nor callable, for failure to redeem the Public Preferred Stock in accordance with the redemption schedule set forth in the instrument. Therefore, we classify these securities as noncurrent liabilities in the condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017.

On January 25, 2017, we became parties with certain of our subsidiaries to the Credit Agreement with EnCap. Under the Credit Agreement, we agreed that, until full and final payment of the obligations under the Credit Agreement, we would not make any distribution or declare or pay any dividends (other than common stock) on our stock, or purchase, acquire, or redeem any stock, or exchange any stock for indebtedness, or retire any stock. Additionally, the Porter Notes contain similar prohibitions on dividend payments or stock redemptions.

Accordingly, as stated above, we will continue to classify the entirety of our obligation to redeem the Public Preferred Stock as a long-term obligation. The Credit Agreement and the Porter Notes prohibit, among other things, the redemption of any stock, common or preferred, other than as described above. The Public Preferred Stock by its terms also cannot be redeemed if doing so would violate the terms of an agreement regarding the borrowing of funds or the extension of credit which is binding upon us or any of our subsidiaries, and it does not include any other provisions that would otherwise require any acceleration of the redemption of or amortization payments with respect to the Public Preferred Stock. Thus, the Public Preferred Stock is not and will not be due on demand, nor callable, within 12 months from September 30, 2018.  This classification is consistent with ASC 210-10, "Balance Sheet" and 470-10, "Debt" and the FASB ASC Master Glossary definition of "Current Liabilities."

ASC 210-10 and the FASB ASC Master Glossary define current liabilities as follows: The term current liabilities is used principally to designate obligations whose liquidation is reasonably expected to require the use of existing resources properly classifiable as current assets, or the creation of other current liabilities. As a balance sheet category, the classification is intended to include obligations for items which have entered into the operating cycle, such as payables incurred in the acquisition of materials and supplies to be used in the production of goods or in providing services to be offered for sale; collections received in advance of the delivery of goods or performance of services; and debts that arise from operations directly related to the operating cycle, such as accruals for wages, salaries, commissions, rentals, royalties, and income and other taxes. Other liabilities whose regular and ordinary liquidation is expected to occur within a relatively short period of time, usually twelve months, are also intended for inclusion, such as short-term debts arising from the acquisition of capital assets, serial maturities of long-term obligations, amounts required to be expended within one year under sinking fund provisions, and agency obligations arising from the collection or acceptance of cash or other assets for the account of third persons.

ASC 470-10 provides the following: The current liability classification is also intended to include obligations that, by their terms, are due on demand or will be due on demand within one year (or operating cycle, if longer) from the balance sheet date, even though liquidation may not be expected within that period. It is also intended to include long-term obligations that are or will be callable by the creditor either because the debtor's violation of a provision of the debt agreement at the balance sheet date makes the obligation callable or because the violation, if not cured within a specified grace period, will make the obligation callable.

If, pursuant to the terms of the Public Preferred Stock, we do not redeem the Public Preferred Stock in accordance with the scheduled redemptions described above, the terms of the Public Preferred Stock require us to discharge our obligation to redeem the Public Preferred Stock as soon as we are financially capable and legally permitted to do so. Therefore, by its very terms, the Public Preferred Stock is not due on demand or callable for failure to make a scheduled payment pursuant to its redemption provisions and is properly classified as a noncurrent liability.

We pay dividends on the Public Preferred Stock when and if declared by the Board of Directors. The Public Preferred Stock accrues a semi-annual dividend at the annual rate of 12% ($1.20) per share, based on the liquidation preference of $10 per share and is fully cumulative. Dividends in additional shares of the Public Preferred Stock for 1990 and 1991 were paid at the rate of 6% of a share for each $.60 of such dividends not paid in cash. For the cash dividends payable since December 1, 1995, we have accrued $102.6 million and $99.7 million as of September 30, 2018 and December 31, 2017, respectively. We accrued dividends on the Public Preferred Stock of $1.0 million and $2.9 million for each of the three and nine months ended September 30, 2018 and 2017, respectively, which was recorded as interest expense. Prior to the effective date of ASC 480-10 on July 1, 2003, such dividends were charged to stockholders' accumulated deficit.

Recent Accounting Pronouncements
See Note 1 of the Condensed Consolidated Financial Statements for a discussion of recently issued accounting pronouncements.

Critical Accounting Policies
Except as set forth below, during the three months ended September 30, 2018, there were no material changes to our critical accounting policies as reported in our Annual Report on Form 10-K for the year ended December 31, 2017 as filed with the SEC on April 2, 2018.

Revenue Recognition
We account for revenue in accordance with ASC Topic 606, "Revenue from Contracts with Customers." The unit of account in ASC 606 is a performance obligation, which is a promise, in a contract with a customer, to transfer a good or service to the customer. ASC 606 prescribes a five-step model for recognizing revenue that includes identifying the contract with the customer, determining the performance obligation(s), determining the transaction price, allocating the transaction price to the performance obligation(s), and recognizing revenue as the performance obligations are satisfied. Timing of the satisfaction of performance obligations varies across our businesses due to our diverse product and service mix, customer base, and contractual terms. Significant judgment can be required in determining certain performance obligations, and these determinations could change the amount of revenue and profit recorded in a given period.  Our contracts may have a single performance obligation or multiple performance obligations. When there are multiple performance obligations within a contract, we allocate the transaction price to each performance obligation based on our best estimate of standalone selling price.

We account for a contract after it has been approved by the parties to the contract, the rights and the payment terms of the parties are identified, the contract has commercial substance and collectability is probable, which is presumed for our U.S. Government customers and prime contractors for which we perform as subcontractors to U.S. Government end-customers.

The majority of our revenue is recognized over time, as control is transferred continuously to our customers, and is classified as services revenue.  All of our business groups earn services revenue under a variety of contract types, including time and materials, firm-fixed price, firm fixed price level of effort, and cost plus fixed fee contract types, which may include variable consideration as discussed further below. Revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, material, subcontractor costs and indirect expenses. This continuous transfer of control to the customer is supported by clauses in our contracts with U.S. Government customers whereby the customer may terminate a contract for convenience and then pay for costs incurred plus a profit, at which time the customer would take control of any work in process. For non-U.S. Government contracts where we perform as a subcontractor and our order includes similar FAR provisions as the prime contractor's order from the U.S. Government, continuous transfer of control is likewise supported by such provisions. For other non-U.S. Government customers, continuous transfer of control to such customers is also supported due to general terms in our contracts and rights to recover damages which would include, among other potential damages, the right to payment for our work performed to date plus a reasonable profit.

Due to the transfer of control over time, revenue is recognized based on progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the performance obligations. We generally use the cost-to-cost measure of progress on a proportional performance basis for our contracts because it best depicts the transfer of control to the customer which occurs as we incur costs on our contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. Due to the nature of the work required to be performed on certain of our performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment.  Contract estimates are based on various assumptions including labor and subcontractor costs, materials and other direct costs and the complexity of the work to be performed. A significant change in one or more of these estimates could affect the profitability of our contracts. We review and update our contract-related estimates regularly and recognize adjustments in estimated profit on contracts on a cumulative catch-up basis, which may result in an adjustment increasing or decreasing revenue to date on a contract in a particular period that the adjustment is identified. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate.

Revenue that is recognized at a point in time is for the sale of software licenses in our Cyber Operations and Defense ("CO&D") and IT & Enterprise Solutions business groups and for the sale of resold products in Telos ID and CO&D and is classified as product revenue.  Revenue on these contracts is recognized when the customer obtains control of the transferred product or service, which is generally upon delivery of the product to the customer for their use, due to us maintaining control of the product until that point. Orders for the sale of software licenses may contain multiple performance obligations, such as maintenance, training, or consulting services, which are typically delivered over time, consistent with the transfer of control disclosed above for the provision of services. When an order contains multiple performance obligations, we allocate the transaction price to the performance obligations using our best estimate of standalone selling price.

Contracts are routinely and often modified to account for changes in contract requirements, specifications, quantities, or price.  Depending on the nature of the modification, we determine whether to account for the modification as an adjustment to the existing contract or as a new contract.  Generally, modifications are not distinct from the existing contract due to the significant interrelatedness of the performance obligations and are therefore accounted for as an adjustment to the existing contract, and recognized as a cumulative adjustment to revenue (as either an increase or reduction of revenue) based on the modification's effect on progress toward completion of a performance obligation.

Our contracts may include various types of variable consideration, such as claims (for instance indirect rate or other equitable adjustments) or incentive fees. We include estimated amounts in the transaction price based on all of the information available to us, including historical information and future estimations, and to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when any uncertainty associated with the variable consideration is resolved.  We have revised and re-submitted several years of incurred cost submissions reflecting certain indirect rate structure changes as a result of regular DCAA audits of incurred cost submissions.  This resulted in signed final rate agreement letters for 2011 to 2013 and conformed incurred cost submissions for 2014 to 2015. We evaluated the resulting changes to revenue under the applicable cost plus fixed fee contracts for the years 2011 to 2015 as variable consideration, and determined the most likely amount to which we expect to be entitled, to the extent that no constraint exists that would preclude recognizing this revenue or result in a significant reversal of cumulative revenue recognized. We have included these estimated amounts of variable consideration in the transaction price and as performance on these contracts is complete, we have recognized revenue of $5.6 million in the current period.  
 
Historically, most of our contracts do not include award or incentive fees. For incentive fees, we would include such fees in the transaction price to the extent we could reasonably estimate the amount of the fee.  With limited historical experience, we have not included any revenue related to incentive fees in our estimated transaction prices.  We may include in our contract estimates additional revenue for submitted contract modifications or claims against the customer when we believe we have an enforceable right to the modification or claim, the amount can be estimated reliably and its realization is probable. We consider the contractual/legal basis for the claim (in particular FAR provisions), the facts and circumstances around any additional costs incurred, the reasonableness of those costs and the objective evidence available to support such claims.

For our contracts that have an original duration of one year or less, we use the practical expedient applicable to such contracts and do not consider the time value of money. We capitalize sales commissions related to proprietary software and related services that are directly tied to sales. We do not elect the practical expedient to expense as incurred the incremental costs of obtaining a contract if the amortization period would have been one year or less. For the sales commissions that are capitalized, we amortize the asset over the expected customer life, which is based on recent and historical data.

As a result of the adoption of the ASC 606 standard on January 1, 2018, we determined that certain contractual arrangements required adjustment in order to appropriately reflect revenue recognition under the new standard.  For contracts for term-based license subscriptions that were in process at January 1, 2018 it was determined that the license was a distinct performance obligation where transfer of control of the license to the customer had occurred. Accordingly, the amount of revenue allocated to those performance obligations was reflected in the cumulative adjustment to our accumulated deficit in accordance with our election of the modified retrospective transition method as prescribed by the new standard.  This adjustment included two contracts for an aggregate cumulative adjustment to decrease accumulated deficit of $3.9 million.  The remaining performance obligations under the contracts were adjusted to reflect the adjusted allocation of the transaction price to these performance obligations. Additionally, upon adoption of the new standard it was determined that certain contractual arrangements for the provision of resold information technology products that had previously been accounted for on a gross revenue basis under the prior standard would appropriately be recognized on a net revenue basis and reflected in services revenue.  There were no contracts of this type in process that were included in the accumulated deficit adjustment.

Contract assets are amounts that are invoiced as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals or upon achievement of contractual milestones. Generally, revenue recognition occurs before billing, resulting in contract assets. These contract assets are referred to as unbilled receivables and are reported within accounts receivable, net of reserve on our condensed consolidated balance sheet.

Billed receivables are amounts billed and due from our customers that are classified as billed receivables and are reported within accounts receivable, net of reserve on the condensed consolidated balance sheet. The portion of the payments retained by the customer until final contract settlement is not considered a significant financing component due to the intent of the retainage being the customer's protection with respect to full and final performance under the contract.

Contract liabilities are payments received in advance and milestone payments from our customers on selected contracts that exceed revenue earned to date, resulting in contract liabilities. Contract liabilities typically are not considered a significant financing component because they are typically satisfied within one year and are used to meet working capital demands that can be higher in the early stages of a contract. Contract liabilities are reported on our condensed consolidated balance sheet on a net contract basis at the end of each reporting period.

Item 3.    Quantitative and Qualitative Disclosures about Market Risk
 N/A.

Item 4.    Controls and Procedures

Evaluation of Disclosure Controls and Procedures
An evaluation of the effectiveness of our disclosure controls and procedures as of September 30, 2018, was performed under the supervision and with the participation of our management, including the Chief Executive Officer and Chief Financial Officer. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in its reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that information required to be disclosed by the Company in the reports the Company files or submits under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.
 
Internal Control over Financial Reporting
There has been no change in our internal control over financial reporting during the quarter ended September 30, 2018 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II—OTHER INFORMATION
 Item 1.    Legal Proceedings
 Information regarding legal proceedings may be found in Note 8 – Commitments and Contingencies to the condensed consolidated financial statements.

Item 1A.  Risk Factors
There were no material changes in the period ended September 30, 2018 in our risk factors as disclosed in our Annual Report on Form 10-K for the year ended December 31, 2017.

Item 2.     Unregistered Sales of Equity Securities and Use of Proceeds
None.

Item 3.    Defaults upon Senior Securities

12% Cumulative Exchangeable Redeemable Preferred Stock
Through November 21, 1995, we had the option to pay dividends in additional shares of Public Preferred Stock in lieu of cash (provided there were no restrictions on payment as further discussed below). As more fully explained in the next paragraph, dividends are payable by us, when and if declared by the Board of Directors, commencing June 1, 1990, and on each six month anniversary thereof. Dividends in additional shares of the Preferred Stock for 1990 and 1991 were paid at the rate of 6% of a share for each $.60 of such dividends not paid in cash. Dividends for the years 1992 through 1994, and for the dividend payable June 1, 1995, were accrued under the assumption that such dividends would be paid in additional shares of preferred stock and were valued at $4.0 million. Had we accrued these dividends on a cash basis, the total amount accrued would have been $15.1 million. However, as a result of the redemption of the 410,000 shares of the Public Preferred Stock in November 1998, such amounts were reduced and adjusted to $3.5 million and $13.4 million, respectively. As more fully disclosed in Note 6 – Redeemable Preferred Stock, in the second quarter of 2006, we accrued an additional $9.9 million in interest expense to reflect our intent to pay cash dividends in lieu of stock dividends, for the years 1992 through 1994, and for the dividend payable June 1, 1995. We have accrued $102.6 million and $99.7 million in cash dividends as of September 30, 2018  and December 31, 2017, respectively.
 
Since 1991, no dividends were declared or paid on our Public Preferred Stock, based upon our interpretation of restrictions in our Articles of Amendment and Restatement, limitations in the terms of the Public Preferred Stock instrument, specific dividend payment restrictions in the Credit Agreement and the Porter Notes to which the Public Preferred Stock is subject, other senior obligations currently or previously in existence, and Maryland law limitations in existence prior to October 1, 2009. Subsequent to the 2009 Maryland law change, dividend payments continue to be prohibited except under certain specific circumstances as set forth in Maryland Code Section 2-311, which the Company did not satisfy as of the measurement dates. Pursuant to the terms of the Articles of Amendment and Restatement, we were scheduled, but not required, to redeem the Public Preferred Stock in five annual tranches during the period 2005 through 2009. However, due to our substantial senior obligations currently or previously in existence, limitations set forth in the covenants in the Credit Agreement and the Porter Notes, foreseeable capital and operational requirements, and restrictions and prohibitions of our Articles of Amendment and Restatement, we were and remain unable to meet the redemption schedule set forth in the terms of the Public Preferred Stock as of the measurement dates. Moreover, the Public Preferred Stock is not payable on demand, nor callable, for failure to redeem the Public Preferred Stock in accordance with the redemption schedule set forth in the instrument. Therefore, we classify these securities as noncurrent liabilities in the condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017.

Item 4.    Mine Safety Disclosures
Not applicable.

Item 5.    Other Information
None.

Item 6.    Exhibits
     
Exhibit
Number
  
Description of Exhibit
     
31.1*
  
31.2*
  
32*
  
101.INS**
  
XBRL Instance Document
101.SCH**
  
XBRL Taxonomy Extension Schema
101.CAL**
  
XBRL Taxonomy Extension Calculation Linkbase
101.DEF**
  
XBRL Taxonomy Extension Definition Linkbase
101.LAB**
  
XBRL Taxonomy Extension Label Linkbase
101.PRE**
  
XBRL Taxonomy Extension Presentation Linkbase
*   filed herewith
** in accordance with Regulation S-T, the XBRL-related information in Exhibit 101 to this Quarterly Report on Form 10-Q shall be deemed to be "furnished" and not "filed"



SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
  

Date:  November 14, 2018
  
TELOS CORPORATION
     
   
/s/ John B. Wood
   
John B. Wood
Chief Executive Officer (Principal Executive Officer)


   
 
/s/ Michele Nakazawa
   
Michele Nakazawa
Chief Financial Officer (Principal Financial and Accounting Officer)

47
 
EX-31.1 2 ex31_1.htm EXHIBIT 31.1
Exhibit 31.1

CERTIFICATION
 
I, John B. Wood, certify that:
 
1.    I have reviewed this quarterly report on Form 10-Q of Telos Corporation;
 
2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
 
4.    The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
 
a)     Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)      Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
c)    Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
d)    Disclosed  in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
 
5.    The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and to the audit committee of registrant's board of directors:
 
a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting  which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
 
b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
 
 


 
Date:   November 14, 2018
/s/ John B. Wood
John B. Wood
Chief Executive Officer (Principal Executive Officer)
 
EX-31.2 3 ex31_2.htm EXHIBIT 31.2
Exhibit 31.2

CERTIFICATION
 
I, Michele Nakazawa, certify that:
 
1.    I have reviewed this quarterly report on Form 10-Q of Telos Corporation;
 
2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
 
4.    The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
 
a)     Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
b)      Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)    Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
d)    Disclosed  in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
 
5.    The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and to the audit committee of registrant's board of directors:
 
a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting  which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
 
b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
 


 
Date:  November 14, 2018
 /s/ Michele Nakazawa
Michele Nakazawa
Chief Financial Officer (Principal Financial and Accounting Officer)
EX-32 4 ex32.htm EXHIBIT 32
Exhibit 32
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
 SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
 In connection with the Quarterly Report of Telos Corporation (the "Company") on Form 10-Q for the period ended September 30, 2018 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), we, John B. Wood and Michele Nakazawa, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that to our knowledge:
     (1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
     (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date:   November 14, 2018
 /s/ John B. Wood
John B. Wood
Chief Executive Officer (Principal Executive Officer)

 

Date:   November 14, 2018
 /s/ Michele Nakazawa
Michele Nakazawa
Chief Financial Officer (Principal Financial and Accounting Officer)
EX-101.INS 5 tlsrp-20180930.xml XBRL INSTANCE DOCUMENT 0000320121 2018-01-01 2018-09-30 0000320121 us-gaap:CommonClassAMember 2018-11-07 0000320121 us-gaap:CommonClassBMember 2018-11-07 0000320121 2017-01-01 2017-09-30 0000320121 us-gaap:ProductMember 2017-07-01 2017-09-30 0000320121 us-gaap:ProductMember 2018-07-01 2018-09-30 0000320121 us-gaap:ServiceMember 2018-01-01 2018-09-30 0000320121 us-gaap:ServiceMember 2017-01-01 2017-09-30 0000320121 2017-07-01 2017-09-30 0000320121 us-gaap:ServiceMember 2018-07-01 2018-09-30 0000320121 us-gaap:ProductMember 2017-01-01 2017-09-30 0000320121 2018-07-01 2018-09-30 0000320121 us-gaap:ProductMember 2018-01-01 2018-09-30 0000320121 us-gaap:ServiceMember 2017-07-01 2017-09-30 0000320121 2018-09-30 0000320121 2017-12-31 0000320121 2016-12-31 0000320121 2017-09-30 0000320121 2018-06-30 0000320121 us-gaap:CommonStockMember 2018-06-30 0000320121 us-gaap:CommonStockMember 2016-12-31 0000320121 us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0000320121 us-gaap:AdditionalPaidInCapitalMember 2016-12-31 0000320121 us-gaap:RetainedEarningsMember 2018-06-30 0000320121 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2016-12-31 0000320121 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-30 0000320121 us-gaap:RetainedEarningsMember 2016-12-31 0000320121 us-gaap:NoncontrollingInterestMember 2018-06-30 0000320121 us-gaap:NoncontrollingInterestMember 2016-12-31 0000320121 us-gaap:AdditionalPaidInCapitalMember 2017-06-30 0000320121 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-06-30 0000320121 2017-06-30 0000320121 us-gaap:RetainedEarningsMember 2017-06-30 0000320121 us-gaap:NoncontrollingInterestMember 2017-06-30 0000320121 us-gaap:CommonStockMember 2017-06-30 0000320121 us-gaap:RetainedEarningsMember 2017-12-31 0000320121 us-gaap:CommonStockMember 2017-12-31 0000320121 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0000320121 us-gaap:NoncontrollingInterestMember 2017-12-31 0000320121 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0000320121 us-gaap:AdditionalPaidInCapitalMember 2017-01-01 2017-09-30 0000320121 us-gaap:CommonStockMember 2017-01-01 2017-09-30 0000320121 us-gaap:CommonStockMember 2018-07-01 2018-09-30 0000320121 us-gaap:AdditionalPaidInCapitalMember 2018-07-01 2018-09-30 0000320121 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-07-01 2018-09-30 0000320121 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-01-01 2017-09-30 0000320121 us-gaap:RetainedEarningsMember 2017-01-01 2017-09-30 0000320121 us-gaap:RetainedEarningsMember 2018-07-01 2018-09-30 0000320121 us-gaap:NoncontrollingInterestMember 2018-07-01 2018-09-30 0000320121 us-gaap:NoncontrollingInterestMember 2017-01-01 2017-09-30 0000320121 us-gaap:AdditionalPaidInCapitalMember 2017-07-01 2017-09-30 0000320121 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-07-01 2017-09-30 0000320121 us-gaap:CommonStockMember 2017-07-01 2017-09-30 0000320121 us-gaap:RetainedEarningsMember 2017-07-01 2017-09-30 0000320121 us-gaap:NoncontrollingInterestMember 2017-07-01 2017-09-30 0000320121 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-09-30 0000320121 us-gaap:CommonStockMember 2018-01-01 2018-09-30 0000320121 us-gaap:RetainedEarningsMember 2018-01-01 2018-09-30 0000320121 us-gaap:NoncontrollingInterestMember 2018-01-01 2018-09-30 0000320121 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-09-30 0000320121 us-gaap:CommonStockMember 2018-09-30 0000320121 us-gaap:AdditionalPaidInCapitalMember 2018-09-30 0000320121 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-09-30 0000320121 us-gaap:RetainedEarningsMember 2018-09-30 0000320121 us-gaap:NoncontrollingInterestMember 2018-09-30 0000320121 us-gaap:AdditionalPaidInCapitalMember 2017-09-30 0000320121 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-09-30 0000320121 us-gaap:RetainedEarningsMember 2017-09-30 0000320121 us-gaap:NoncontrollingInterestMember 2017-09-30 0000320121 us-gaap:CommonStockMember 2017-09-30 0000320121 us-gaap:FixedPriceContractMember 2017-01-01 2017-09-30 0000320121 tlsrp:StateLocalAndCommercialMember 2017-01-01 2017-09-30 0000320121 us-gaap:TimeAndMaterialsContractMember 2017-01-01 2017-09-30 0000320121 us-gaap:GovernmentMember 2017-01-01 2017-09-30 0000320121 tlsrp:CostPlusFixedFeeMember 2017-01-01 2017-09-30 0000320121 us-gaap:FixedPriceContractMember 2018-01-01 2018-09-30 0000320121 us-gaap:TimeAndMaterialsContractMember 2018-01-01 2018-09-30 0000320121 us-gaap:FixedPriceContractMember 2017-07-01 2017-09-30 0000320121 tlsrp:CostPlusFixedFeeMember 2018-01-01 2018-09-30 0000320121 us-gaap:GovernmentMember 2018-07-01 2018-09-30 0000320121 us-gaap:GovernmentMember 2017-07-01 2017-09-30 0000320121 tlsrp:StateLocalAndCommercialMember 2018-01-01 2018-09-30 0000320121 us-gaap:TimeAndMaterialsContractMember 2018-07-01 2018-09-30 0000320121 tlsrp:StateLocalAndCommercialMember 2017-07-01 2017-09-30 0000320121 tlsrp:CostPlusFixedFeeMember 2017-07-01 2017-09-30 0000320121 tlsrp:StateLocalAndCommercialMember 2018-07-01 2018-09-30 0000320121 us-gaap:GovernmentMember 2018-01-01 2018-09-30 0000320121 us-gaap:FixedPriceContractMember 2018-07-01 2018-09-30 0000320121 us-gaap:TimeAndMaterialsContractMember 2017-07-01 2017-09-30 0000320121 tlsrp:CostPlusFixedFeeMember 2018-07-01 2018-09-30 0000320121 us-gaap:AccountingStandardsUpdate201409Member 2018-09-30 0000320121 us-gaap:AccountingStandardsUpdate201409Member 2018-07-01 2018-09-30 0000320121 us-gaap:AccountingStandardsUpdate201409Member 2017-12-31 0000320121 2018-10-01 2018-09-30 0000320121 2019-01-01 2018-09-30 0000320121 2020-01-01 2018-09-30 0000320121 2017-01-01 2017-12-31 0000320121 tlsrp:ExecutiveOfficersAndEmployeesMember us-gaap:RestrictedStockMember 2017-05-01 2017-05-31 0000320121 us-gaap:RestrictedStockMember 2018-09-30 0000320121 us-gaap:RestrictedStockMember 2018-01-01 2018-09-30 0000320121 tlsrp:TelosIdMember 2007-04-11 0000320121 tlsrp:TelosIdMember 2007-04-19 2007-04-19 0000320121 tlsrp:InvestorsMember tlsrp:TelosIdMember 2007-04-19 0000320121 tlsrp:TelosIdMember 2014-12-24 0000320121 tlsrp:TelosIdMember 2007-04-20 0000320121 tlsrp:TelosIdMember 2007-04-20 2007-04-20 0000320121 tlsrp:TelosIdMember tlsrp:ClassBMembershipUnitMember 2014-12-24 2014-12-24 0000320121 tlsrp:TelosIdMember tlsrp:ClassMembershipUnitMember 2014-12-24 2014-12-24 0000320121 tlsrp:TelosIdMember 2014-12-24 2014-12-24 0000320121 tlsrp:TelosIdMember tlsrp:ClassMembershipUnitMember 2014-12-24 0000320121 tlsrp:TelosIdMember tlsrp:ClassBMembershipUnitMember 2014-12-24 0000320121 tlsrp:TwelvePercentCumulativeExchangeableRedeemablePreferredStockMember 2018-01-01 2018-09-30 0000320121 tlsrp:TwelvePercentCumulativeExchangeableRedeemablePreferredStockMember 2018-09-30 0000320121 us-gaap:EstimateOfFairValueFairValueDisclosureMember tlsrp:TwelvePercentCumulativeExchangeableRedeemablePreferredStockMember 2017-12-31 0000320121 tlsrp:TwelvePercentCumulativeExchangeableRedeemablePreferredStockMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2018-09-30 0000320121 tlsrp:TwelvePercentCumulativeExchangeableRedeemablePreferredStockMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2018-09-30 0000320121 us-gaap:CarryingReportedAmountFairValueDisclosureMember tlsrp:TwelvePercentCumulativeExchangeableRedeemablePreferredStockMember 2017-12-31 0000320121 tlsrp:EnlightenmentCapitalSolutionsFundIILPMember tlsrp:TermLoanMember 2017-01-25 0000320121 tlsrp:EnlightenmentCapitalSolutionsFundIILPMember tlsrp:TermLoanMember 2018-01-01 2018-09-30 0000320121 tlsrp:CreditAgreementMember 2018-07-01 2018-09-30 0000320121 tlsrp:TermLoanMember tlsrp:EnlightenmentCapitalSolutionsFundIILPMember 2017-01-25 2017-01-25 0000320121 tlsrp:EnlightenmentCapitalSolutionsFundIILPMember us-gaap:CommonClassAMember 2017-01-25 0000320121 us-gaap:CommonClassAMember tlsrp:EnlightenmentCapitalSolutionsFundIILPMember 2017-01-25 2017-01-25 0000320121 tlsrp:EnlightenmentCapitalSolutionsFundIILPMember us-gaap:CommonClassAMember 2018-01-01 2018-09-30 0000320121 us-gaap:BeneficialOwnerMember 2017-04-18 0000320121 tlsrp:CreditAgreementMember 2018-09-30 0000320121 tlsrp:CreditAgreementMember 2018-01-01 2018-09-30 0000320121 tlsrp:CreditAgreementMember 2017-01-01 2017-09-30 0000320121 us-gaap:CommonClassAMember tlsrp:CreditAgreementMember tlsrp:EmmettWoodMember 2018-09-30 0000320121 tlsrp:RepublicCapitalAccessLLCMember tlsrp:AccountsReceivablePurchaseAgreementMember 2016-07-15 0000320121 tlsrp:AccountsReceivablePurchaseAgreementMember tlsrp:RepublicCapitalAccessLLCMember 2018-01-01 2018-09-30 0000320121 tlsrp:AccountsReceivablePurchaseAgreementMember tlsrp:RepublicCapitalAccessLLCMember 2016-07-15 2016-07-15 0000320121 tlsrp:USGovernmentAgencyMember tlsrp:RepublicCapitalAccessLLCMember tlsrp:AccountsReceivablePurchaseAgreementMember 2016-07-15 2016-07-15 0000320121 tlsrp:FinancingAndSecurityAgreementMember tlsrp:ActionCapitalCorporationMember 2016-07-15 2016-07-15 0000320121 tlsrp:FinancingAndSecurityAgreementMember tlsrp:ActionCapitalCorporationMember 2016-07-15 0000320121 tlsrp:ActionCapitalCorporationMember tlsrp:FinancingAndSecurityAgreementMember 2018-01-01 2018-09-30 0000320121 tlsrp:FinancingAndSecurityAgreementMember us-gaap:PrimeRateMember tlsrp:ActionCapitalCorporationMember 2016-07-15 2016-07-15 0000320121 tlsrp:ActionCapitalCorporationMember tlsrp:FinancingAndSecurityAgreementMember 2018-09-30 0000320121 tlsrp:PorterMember 2015-03-31 0000320121 tlsrp:PorterMember 2015-01-01 2015-03-31 0000320121 tlsrp:PorterMember 2017-01-01 2017-09-30 0000320121 tlsrp:PorterMember 2018-01-01 2018-09-30 0000320121 tlsrp:PorterMember 2018-07-01 2018-09-30 0000320121 tlsrp:PorterMember 2017-07-01 2017-09-30 0000320121 tlsrp:PorterMember 2017-04-18 0000320121 tlsrp:PorterMember 2015-03-31 2015-03-31 0000320121 tlsrp:PorterMember 2017-01-01 2017-12-31 0000320121 tlsrp:TwelvePercentCumulativeExchangeableRedeemablePreferredStockMember 1991-01-01 1991-12-31 0000320121 tlsrp:TwelvePercentCumulativeExchangeableRedeemablePreferredStockMember 2017-12-31 0000320121 tlsrp:TwelvePercentCumulativeExchangeableRedeemablePreferredStockMember 1990-12-31 0000320121 tlsrp:TwelvePercentCumulativeExchangeableRedeemablePreferredStockMember 2006-04-01 2006-06-30 0000320121 tlsrp:TwelvePercentCumulativeExchangeableRedeemablePreferredStockMember 2018-07-01 2018-09-30 0000320121 tlsrp:TwelvePercentCumulativeExchangeableRedeemablePreferredStockMember 1998-11-30 1998-11-30 0000320121 tlsrp:CostaBravaMember 2018-09-30 0000320121 tlsrp:WynnefieldMember 2018-09-30 0000320121 tlsrp:EmmettWoodMember 2017-01-01 2017-09-30 0000320121 tlsrp:EmmettWoodMember 2018-01-01 2018-09-30 0000320121 tlsrp:EmmettWoodMember 2018-07-01 2018-09-30 0000320121 tlsrp:EmmettWoodMember 2017-07-01 2017-09-30 0000320121 us-gaap:CommonClassAMember tlsrp:EmmettWoodMember 2018-09-30 0000320121 us-gaap:CommonClassBMember tlsrp:EmmettWoodMember 2018-09-30 0000320121 us-gaap:CommonClassAMember us-gaap:BeneficialOwnerMember 2015-03-31 0000320121 us-gaap:BeneficialOwnerMember 2015-01-01 2015-03-31 0000320121 us-gaap:BeneficialOwnerMember 2015-03-31 0000320121 us-gaap:BeneficialOwnerMember 2018-01-01 2018-09-30 0000320121 us-gaap:BeneficialOwnerMember 2015-03-31 2015-03-31 0000320121 us-gaap:BeneficialOwnerMember 2017-07-01 2017-09-30 0000320121 us-gaap:BeneficialOwnerMember 2018-07-01 2018-09-30 0000320121 us-gaap:BeneficialOwnerMember 2017-01-01 2017-09-30 0000320121 us-gaap:BeneficialOwnerMember 2017-01-01 2017-12-31 xbrli:shares iso4217:USD tlsrp:Segment xbrli:pure tlsrp:Unit tlsrp:Director tlsrp:Class iso4217:USD xbrli:shares tlsrp:Tranche false --12-31 2018-09-30 Non-accelerated Filer TELOS CORP 0000320121 45168461 4037628 2018 Q3 10-Q false false false 2027-01-25 19885000 25693000 10485000 11736000 11736000 15400000 16900000 3000000 10300000 25841000 27906000 -107000 -107000 -75000 -84000 32000 23000 4310000 4310000 50000 0 50000 0 0 0 300000 411000 411000 115000 145000 0 70974000 74421000 38073000 42150000 17980000 17154000 1089000 1013000 700000 300000 0 2800000 900000 -185000 -406000 415000 600000 659000 253000 1135284.333 1.321 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Note 8</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Commitments and Contingencies</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Financial Condition and Liquidity</font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;"><!--Anchor-->As described in Note 5 &#8211; Current Liabilities and Debt Obligations, we maintain a Credit Agreement with EnCap, a Purchase Agreement with RCA and a Financing Agreement with Action Capital. The willingness of RCA to purchase our accounts receivable under the Purchase Agreement and of Action Capital to make advances under the Financing Agreement, and our ability to obtain additional financing, may be limited due to various factors, including the eligibility of our receivables, the status of our business, global credit market conditions, and perceptions of our business or industry by EnCap, RCA, Action Capital, or other potential sources of financing. If we are unable to maintain the Purchase Agreement and the Financing Agreement, we would need to obtain additional credit to fund our future operations. If credit is available in that event, lenders may impose more restrictive terms and higher interest rates that may reduce our borrowing capacity, increase our costs, or reduce our operating flexibility. The failure to maintain, extend, renew or replace the Purchase Agreement and the Financing Agreement with a comparable arrangement or arrangements that provide similar amounts of liquidity for the Company would have a material negative impact on our overall liquidity, financial and operating results.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">While a variety of factors related to sources and uses of cash, such as timeliness of accounts receivable collections, vendor credit terms, or significant collateral requirements, ultimately impact our liquidity, such factors may or may not have a direct impact on our liquidity, based on how the transactions associated with such circumstances impact our availability under our credit arrangements. For example, a contractual requirement to post collateral for a duration of several months, depending on the materiality of the amount, could have an immediate negative effect on our liquidity, as such a circumstance would utilize cash resources without a near-term cash inflow back to us. Likewise, the release of such collateral could have a corresponding positive effect on our liquidity, as it would represent an addition to our cash resources without any corresponding near-term cash outflow. Similarly, a slow-down of payments from a customer, group of customers or government payment office would not have an immediate and direct effect on our availability unless the slowdown was material in amount and over an extended period of time. Any of these examples would have an impact on our cash resources, our financing arrangements, and therefore ultimately our liquidity.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Management may determine that, in order to reduce capital and liquidity requirements, planned spending on capital projects and indirect expense growth may be curtailed, subject to growth in operating results. Additionally, management may seek to put in place a credit facility with a commercial bank, although no assurance can be given that such a facility could be put in place under terms acceptable to the Company. Should management determine that additional capital is required, management would likely look first to the sources of funding discussed above to meet any requirements, although no assurances can be given that these investors would be able to invest or that the Company and the investors would agree upon terms for such investments.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Our working capital was $4.0 million and $(4.1) million as of September 30, 2018 and December 31, 2017, respectively. Although no assurances can be given, we expect that our financing arrangements with EnCap, RCA and Action Capital, collectively, and funds generated from operations are sufficient to maintain the liquidity we require to meet our operating, investing and financing needs for the next 12 months.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Legal Proceedings</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Costa Brava Partnership III, L.P., et al. v. Telos Corporation, et al.</font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">As previously disclosed in Note 13 of the Consolidated Financial Statements contained in our Annual Report on Form 10-K for the year ended December 31, 2017, on October 17, 2005, Costa Brava Partnership III, L.P. ("Costa Brava"), a holder of our Public Preferred Stock, filed a lawsuit against the Company and certain past and present directors and officers ("Telos Defendants") in the Circuit Court for Baltimore City, Maryland (the "Circuit Court"). A second holder of the Company's Public Preferred Stock, Wynnefield Small Cap Value, L.P. ("Wynnefield"), subsequently intervened as a co-Plaintiff (Costa Brava and Wynnefield are hereinafter referred to as "Plaintiffs").&#160; On February 27, 2007, Plaintiffs added, as an additional defendant, Mr. John R.C. Porter, a holder of the Company's Class A common stock. As of September 30, 2018, Costa Brava and Wynnefield</font>, directly and through affiliated funds, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">own 12.7% and 17.4%, resepectively, of the outstanding Public Preferred Stock. </font>There have been no material developments in this litigation during the three month period ended September 30, 2018, and the matter remains pending.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">At this stage of the litigation, it is impossible to reasonably determine the degree of probability related to Plaintiffs' success in relation to any of their assertions in the litigation.&#160; Although there can be no assurance as to the ultimate outcome of the case, the Company and its present and former officers and directors strenuously deny Plaintiffs' allegations and continue to vigorously defend the matter and oppose all relief sought by Plaintiffs.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left; margin-right: 1.2pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Hamot et al. v. Telos Corporation</font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">As previously disclosed in Note 13 of the Consolidated Financial Statements contained in our Annual Report on Form 10-K for the year ended December 31, 2017, </font>the Company has been engaged in litigation in the Circuit Court since August 2, 2007 with Messrs.&#160;Seth&#160;W. Hamot and Andrew&#160;R. Siegel ("Plaintiffs/Counterdefendants") in which the Plaintiffs sought access to various books and records of the Company and injunctive and other relief related thereto, and in which the Company filed a Counterclaim against the Plaintiffs/Counterdefendants for various alleged wrongs.&#160; Mr. Siegel is a Class D Director of the Company and Mr. Hamot was a Class D Director of the Company until his resignation on March 9, 2018.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">On or about July 6, 2018, the attorneys representing Mr. Hamot filed a Notice of Substitution of Party in the Circuit Court and the Court of Special Appeals, providing notice that Mr. Steven Tannanbaum was appointed and qualified as the Special Personal Representative of the Estate of Mr. Seth Hamot to represent the estate in the litigation.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The briefing on Telos' appeal was completed and oral argument on Telos' appeal was held before the Court of Special Appeals on October 3, 2018.&#160; The appeal remains pending.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">On September 21, 2018, Plaintiffs filed in the Circuit Court a Motion for Entry of Money Judgment of Advancement Fees and Expenses, or, in the Alternative, for Order that Telos Corporation Show Cause Why Telos Corporation Should Not be Held in Contempt for Failing to Comply with this Court's June 27, 2018 Order Directing Telos Corporation to Pay Advancement Fees and Expenses.&#160; Telos filed its Opposition to the Motion on October 9, 2018.&#160; The matter remains pending.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">At this stage of the litigation, in light of the pendency of the appeal and Plaintiffs'/Counterdefendants' dismissal of their cross-appeal, it is impossible to reasonably determine the degree of probability related to the Company's success in relation to any of the assertions in the foregoing litigation.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left; margin-right: 48pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Other Litigation</font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In addition, the Company is a party to litigation arising in the ordinary course of business.&#160; In the opinion of management, while the results of such litigation cannot be predicted with any reasonable degree of certainty, the final outcome of such known matters will not, based upon all available information, have a material adverse effect on the Company's condensed consolidated financial position, results of operations or cash flows.</div><div><br /></div></div> 0 78000 78000 1078000 1480000 715000 1430000 -9525000 2031000 -3038000 4111000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Other Comprehensive Income</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Our functional currency is the U.S. Dollar. For one of our wholly owned subsidiaries, the functional currency is the local currency. For this subsidiary, the translation of its foreign currency into U.S. Dollars is performed for assets and liabilities using current foreign currency exchange rates in effect at the balance sheet date and for revenue and expense accounts using average foreign currency exchange rates during the period. Translation gains and losses are included in stockholders' deficit as a component of accumulated other comprehensive income.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">Accumulated other comprehensive income included within stockholders' deficit consists of the following (in thousands):</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">September 30, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">December 31, 2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Cumulative foreign currency translation loss</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(84</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(75</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: top; padding-bottom: 1px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Cumulative actuarial gain on pension liability adjustment</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">107</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">107</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: top; padding-bottom: 3px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Accumulated other comprehensive income</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">23</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">32</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><div><br /></div></div> -3900000 5600000 13195000 13195000 16077000 4464000 10073000 10073000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The following table discloses contract receivables (in thousands):</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">September 30, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">January 1, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center; text-indent: 3pt;">December 31, 2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Billed accounts receivable</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,485</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,736</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,736</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Unbilled receivables</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">16,077</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">13,195</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">13,195</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; padding-bottom: 1px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Allowance for doubtful accounts</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(300</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(411</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(411</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; padding-bottom: 3px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Receivables &#8211; net</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">26,262</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">24,520</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">24,520</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The following table discloses contract liabilities (in thousands):</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">September 30, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">January 1, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center; text-indent: 3pt;">December 31, 2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Contract liabilities</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4,464</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,073</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,073</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr></table><div style="clear: both;"><br /></div></div> 10134000 6775000 12206000 17143000 4323000 18408000 47353000 18981000 59119000 63442000 1265000 37219000 3881000 0 0 0 3881000 0 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">We have one reportable segment. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">We treat sales to U.S. customers as sales within the U.S. regardless of where the services are performed. Substantially all of our revenues are from U.S. customers as international customers revenue is de minimus. The following tables disclose revenue (in thousands) by customer type and contract type for the periods presented.&#160; Prior period amounts have not been adjusted under the modified retrospective method.</font></div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Three Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Nine Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">Federal</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">32,784</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">26,358</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">95,354</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">68,040</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 1px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">State &amp; Local, and Commercial</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,911</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,885</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">6,685</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4,410</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 3px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">&#160;&#160;&#160;&#160;&#160;&#160;Total</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">34,695</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">28,243</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">102,039</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">72,450</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Three Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Nine Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Firm fixed-price</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">21,154</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">24,314</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">74,249</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">59,782</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">Time-and-materials</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4,404</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">2,336</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">12,260</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">7,466</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 1px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">Cost plus fixed fee</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">9,137</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,593</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">15,530</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">5,202</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 3px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">&#160;&#160;&#160;&#160;&#160;&#160;Total</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">34,695</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">28,243</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">102,039</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">72,450</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td></tr></table><div style="clear: both;"><br /></div></div> 0.01 0.145 2015-08-20 2015-08-20 894000 1039000 0.02 825000 11825000 11825000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Note 5</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Current Liabilities and Debt Obligations</font></div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left; margin-right: 86.75pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Accounts Payable and Other Accrued Payables</font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">As of September 30, 2018 and December 31, 2017, the accounts payable and other accrued payables consisted of $16.9 million and $15.4 million, respectively, in trade account payables and $3.0 million and $10.3 million, respectively, in accrued payables.</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: justify;">Contract Liabilities&#160;</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: justify; margin-right: 1.2pt; text-indent: 18pt;">Contract liabilities&#160;are payments received in advance and milestone payments from our customers on selected contracts that exceed revenue earned to date, resulting in contract liabilities. Contract liabilities typically are not considered a significant financing component because they are typically satisfied within one year and are used to meet working capital demands that can be higher in the early stages of a contract. Contract liabilities are reported on our condensed consolidated balance sheets on a net contract basis at the end of each reporting period. As of September 30, 2018 and December 31, 2017, the contract liabilities primarily consisted of product support services.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left; margin-right: 7.2pt;">Enlightenment Capital Credit Agreement</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 7.2pt; text-indent: 18pt;">On January 25, 2017, we entered into a Credit Agreement (the "Credit Agreement") with Enlightenment Capital Solutions Fund II, L.P., as agent (the "Agent"), and the lenders party thereto (the "Lenders"), (together referenced as "EnCap"). The Credit Agreement provides for an $11 million senior term loan (the "Loan") with a maturity date of January 25, 2022, subject to acceleration in the event of customary events of default.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 7.2pt; text-indent: 18pt;">All borrowings under the Credit Agreement accrue interest at the rate of 13.0% per annum (the "Accrual Rate"). If, at the request of the Company, the Agent executes an intercreditor agreement with another senior lender under which the Agent and the Lenders subordinate their liens (an "Alternative Interest Rate Event"), the interest rate will increase to 14.5% per annum. After the occurrence and during the continuance of any event of default, the interest rate will increase 2.0%. The Company is obligated to pay accrued interest in cash on a monthly basis at a rate of not less than 10.0% per annum or, during the continuance of an Alternate Interest Rate Event, 11.5% per annum. The Company may elect to pay the remaining interest in cash, by payment-in-kind (by addition to the principal amount of the Loan) or by combination of cash and payment-in-kind. Upon thirty days prior written notice, the Company may prepay any portion or the entire amount of the Loan.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 7.2pt; text-indent: 18pt;">An amount of approximately $1.1 million was netted from the proceeds on the Loan as a prepayment of all interest due and payable at the Accrual Rate during the period from January 25, 2017 to October 31, 2017. A separate fee letter executed by the Company and the Agent, dated January 25, 2017, sets forth the fees payable to the Agent in connection with the Credit Agreement.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 7.2pt; text-indent: 18pt;">The Credit Agreement contains representations, warranties, covenants, terms and conditions customary for transactions of this type. In connection with the Credit Agreement, the Agent has been granted, for the benefit of the Lenders, a security interest in and general lien upon various property of the Company, subject to certain permitted liens and any intercreditor agreement. The occurrence of an event of default under the Credit Agreement could result in the Loan and other obligations becoming immediately due and payable and allow the Lenders to exercise all rights and remedies available to them under the Credit Agreement or as a secured party under the UCC, in addition to all other rights and remedies available to them.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 7.2pt; text-indent: 18pt;">In connection with the Credit Agreement, on January 25, 2017, the Company issued warrants (each, a "Warrant") to Agent and certain of the Lenders representing in the aggregate the right to purchase in accordance with their terms 1,135,284.333 shares of the Class A Common Stock of the Company, no par value per share, which is equivalent to approximately 2.5% of the common equity interests of the Company on a fully diluted basis. The exercise price is $1.321 per share and each Warrant expires on January 25, 2027. The value of the warrants was determined to be de minimis and no value was allocated to them on a relative fair value basis in accounting for the debt instrument.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 7.2pt; text-indent: 18pt;">Effective February 23, 2017, the Credit Agreement was amended to change the required timing of certain post-closing items to allow for more time to complete the legal and administrative requirements around such items. On April 18, 2017, the Credit Agreement was further amended (the "Second Amendment") to incorporate the parties' agreement to subordinate certain debt owed by the Company to the affiliated entities of Mr. John R. C. Porter (the "Subordinated Debt") and to redeem all outstanding shares of the Series A-1 Redeemable Preferred Stock and the Series A-2 Redeemable Preferred Stock, including those owned by Mr. John R.C. Porter and his affiliates, for an aggregate redemption price of $2.1 million.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In connection with the Second Amendment and that subordination of debt, on April 18, 2017, we also entered into Subordination and Intercreditor Agreements (the "Intercreditor Agreements") with affiliated entities of Mr. John R. C. Porter (together referenced as "Porter"), in which Porter agreed that the Subordinated Debt is fully subordinated to the amended Credit Agreement and related documents, and that required payments, if any, under the Subordinated Debt are permitted only if certain conditions are met.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The Credit Agreement also includes an $825,000 exit fee, which is payable upon any repayment or prepayment of the loan. This amount has been included in the total principal due and treated as an unamortized discount on the debt, which will be amortized over the term of the loan, using the effective interest method at a rate of 15.0%. We incurred fees and transaction costs of approximately $374,000 related to the issuance of the Credit Agreement, which are being amortized over the life of the Credit Agreement.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 7.2pt; text-indent: 18pt;">On March 30, 2018, the Credit Agreement was amended (the "Third Amendment") to waive any actual or potential non-compliance with covenants in 2017 and to reset the covenants for 2018 measurement periods to more accurately reflect the Company's projected performance for the year. The measurement against the covenants for consolidated leverage ratio and consolidated fixed charge coverage ratio were agreed to not be measured as of December 31, 2017 and were reset for 2018 measurement periods. Additionally, a minimum revenue covenant and a net working capital covenant were added. In consideration of these amendments, the interest rate on the loan was increased by 1%, which will revert back to the original rate upon achievement of two consecutive quarters of a specified fixed charge coverage ratio as defined in the agreement. The Company may elect to pay the increase in interest expense in cash or by payment-in-kind (by addition to the principal amount of the Loan). The increase in interest expense was paid in cash during the six months ended September 30, 2018.&#160; Contemporaneously with the Third Amendment, Mr. Wood agreed to transfer 50,000 shares of the Company's Class A Common Stock owned by him to EnCap. As of September 30, 2018, we were in compliance with the Credit Agreement's financial covenants.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The carrying amount of the Credit Agreement consisted of the following (in thousands):</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">September 30, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">December 31, 2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: bottom; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Senior term loan, including exit fee</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,825</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,825</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Less:&#160; Unamortized discount, debt issuance costs, and lender fees</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(894</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(1,039</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Senior term loan, net</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,931</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,786</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">We incurred interest expense in the amount of $0.4 million and $1.3 million for the three and nine months ended September 30, 2018, respectively, and $0.4 million and $1.1 million for the three and nine months ended September 30, 2017, respectively, under the Credit Agreement.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left;">Accounts Receivable Purchase Agreement</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">On July 15, 2016, we entered into an Accounts Receivable Purchase Agreement (the "Purchase Agreement") with Republic Capital Access, LLC ("RCA" or "Buyer"), pursuant to which we may offer for sale, and RCA, in its sole discretion, may purchase, eligible accounts receivable relating to U.S. government prime contracts or subcontracts of the Company (collectively, the "Purchased Receivables"). Upon purchase, RCA becomes the absolute owner of any such Purchased Receivables, which are payable directly to RCA, subject to certain repurchase obligations of the Company. The total amount of Purchased Receivables is subject to a maximum limit of $10 million of outstanding Purchased Receivables (the<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font>"Maximum Amount") at any given time. The Purchase Agreement had an initial term expiring on June 30, 2018 and automatically renews for successive 12-month renewal periods unless terminated in writing by either the Company or RCA. On March 2, 2018, the term of the Purchase Agreement was extended to June 30, 2020. No fee or consideration of any kind was paid in connection with this extension.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The initial purchase price of a Purchased Receivable is equal to 90% of the face value of the receivable if the account debtor is an agency of the U.S. government, and 85% if the account debtor is not an agency of the U.S. government; provided, however, that RCA has the right to adjust these initial purchase price rates in its sole discretion. After collection by RCA of the portion of a Purchased Receivable in excess of the initial purchase price, RCA shall pay the Company the residual 10% or 15% of such Purchased Receivable, as appropriate, less (i) a discount factor equal to 0.30%, for federal government prime contracts (or 0.56% for non-federal government investment grade account obligors or 0.62% for non-federal government non-investment grade account obligors) of the face amounts of Purchased Receivables; (ii) a program access fee equal to 0.008% of the daily ending account balance for each day that Purchased Receivable are outstanding; (iii) a commitment fee equal to 1% per annum of Maximum Amount minus the amount of Purchased Receivables outstanding; and (iv) fees, costs and expenses relating to the preparation, administration and enforcement of the Purchase Agreement and any other related agreements.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The Purchase Agreement provides that in the event, but only to the extent, that the conveyance of Purchased Receivables by the Company is characterized by a court or other governmental authority as a loan rather than a sale, the Company shall be deemed to have granted RCA, effective as of the date of the first purchase under the Purchase Agreement, a security interest in all of the Company's right, title and interest in, to and under all of the Purchased Receivables, whether now or hereafter owned, existing or arising.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The Company provides a power of attorney to RCA to take certain actions in the Company's stead, including (a) to sell, assign or transfer in whole or in part any of the Purchased Receivables; (b) to demand, receive and give releases to any account debtor with respect to amounts due under any Purchased Receivables; (c) to notify all account debtors with respect to the Purchased Receivables; and (d) to take any actions necessary to perfect RCA's interests in the Purchased Receivables.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The Company is liable to Buyer for any fraudulent statements and all representations, warranties, covenants, and indemnities made by the Company pursuant to the terms of the Purchase Agreement. It is considered an event of default if (a) the Company fails to pay any amounts it owes to RCA when due (subject to a cure period); (b) the Company has voluntary or involuntary bankruptcy proceedings commenced by or against it; (c) the Company is no longer solvent or is generally not paying its debts as they become due; (d) any voluntary liens, garnishments, attachments, or the like are issued against or attach to the Purchased Receivables; (e) the Company breaches any warranty, representation, or covenant (subject to a cure period); (f) the Company is not in compliance or has otherwise defaulted under any document or obligation in favor of RCA or an RCA affiliate; or (g) the Purchase Agreement or any material provision terminates (other than in accordance with the terms of the Purchase Agreement) or ceases to be effective or to be a binding obligation of the Company. If any such event of default occurs, then RCA may take certain actions, including ceasing to buy any eligible receivables, declaring any indebtedness or other obligations immediately due and payable, or terminating the Purchase Agreement.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left;">Financing and Security Agreement</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">On July 15, 2016, we entered into a Financing and Security Agreement (the "Financing Agreement") with Action Capital Corporation&#160;("Action Capital"), pursuant to which Action Capital agreed to provide the Company with advances of up to 90% of the net amount of certain acceptable customer accounts of the Company that have been assigned as collateral to Action Capital (the "Acceptable Accounts"). The maximum outstanding principal amount of advances under the Financing Agreement was $5 million. The Financing Agreement has a term of two years, provided that the Company may terminate it at any time without penalty upon written notice. </font>On August 13, 2018, the Financing Agreement was extended through January 2, 2019. No fee or consideration of any kind was paid in connection with this extension.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The Company shall pay Action Capital interest on the advances outstanding under the Financing Agreement at a rate equal to the prime rate of Wells Fargo Bank, N.A. in effect on the last business day of the prior month plus 2%, and a monthly fee equal to 0.50%. All interest calculations are based on a year of 360 days. The Company's obligations under the Financing Agreement are secured by certain assets of the Company pertaining to the Acceptable Accounts, including all accounts, accounts receivable, earned and unbilled revenue, contract rights, chattel paper, documents, instruments, general intangibles, reserves, reserve accounts, rebates, books and records, and all proceeds of the foregoing.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Pursuant to the terms of the Financing Agreement, Action Capital shall have full recourse against the Company when an Acceptable Account is not paid in full by the respective customer within 90 days of the date of purchase or if for any reason it ceases to be an Acceptable Account, including the right to charge-back any such Acceptable Account. It is considered an event of default if the Company breaches any covenant or warranty, knowingly provides false or incorrect material information to Action Capital, or otherwise defaults on any of its material obligations under the Financing Agreement or any other material agreements with Action Capital (subject to a cure period). If any such events of default occur, then Action Capital may take certain actions, including declaring any indebtedness immediately due and payable, requiring any customers with Acceptable Accounts to make payments directly to Action Capital, exercising its power of attorney from the Company to take actions in the Company's stead with respect to any of Company's Acceptable Accounts, or terminating the Financing Agreement.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">As of September 30, 2018, there were no outstanding borrowings under the Financing Agreement.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left;">Subordinated Debt</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">On March 31, 2015, the Company entered into Subordinated Loan Agreements and Subordinated Promissory Notes ("Porter Notes") with affiliated entities of Mr. John R. C. Porter (together referenced as "Porter").&#160;Mr. Porter and Toxford Corporation, of which Mr. Porter is the sole shareholder, own 35.0% of our Class A Common Stock.&#160;Under the terms of the Porter Notes, Porter lent the Company $2.5 million on or about March 31, 2015. According to the terms of the Porter Notes, the outstanding principal sum bears interest at the fixed rate of twelve percent (12%) per annum which would be payable in arrears in cash on the 20th day of each May, August, November and February, with the first interest payment date due on August 20, 2015.&#160;The Porter Notes do not call for amortization payments and are unsecured. The Porter Notes, in whole or in part, may be repaid at any time without premium or penalty. The unpaid principal, together with interest, was originally due and payable in full on July 1, 2017.&#160;</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">On April 18, 2017, we amended and restated the Porter Notes to reduce the interest rate from twelve percent (12%) to six percent (6%) per annum, to be accrued, and extended the maturity date from July 1, 2017 to July 25, 2022. Telos also entered into the Intercreditor Agreements with Porter and EnCap, in which the Porter Notes are fully subordinated to the Credit Agreement and any subsequent senior lenders (including Action Capital), and payments under the Porter Notes are permitted only if certain conditions are met. All other terms remain in full force and effect. We incurred interest expense in the amount of $78,000 and $229,000 for three and nine months ended September 30, 2018, respectively, and $99,000 and $218,000 for the three and nine months ended September 30, 2017, respectively, on the Porter Notes. As a result of the amendment and restatement of the Porter Notes, we recorded a gain on extinguishment of debt of approximately $1 million, which consisted of the remeasurement of the debt at fair value. As the extinguishment was with a related party, the transaction was deemed to be a capital transaction and the gain was recorded in the Company's stockholders' deficit as of December 31, 2017.</div><div><br /></div></div> 0.130 0.150 2022-01-25 2022-07-25 2017-07-01 2022-07-25 2017-07-01 7456000 6713000 38000 189000 779000 741000 1414000 2148000 2900000 1000000 99700000 102600000 0.35 0.21 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Note 4</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Fair Value Measurements</font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">The accounting standard for fair value measurements provides a framework for measuring fair value and expands disclosures about fair value measurements. The framework requires the valuation of financial instruments using a three-tiered approach. The statement requires fair value measurement to be classified and disclosed in one of the following categories:</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 18pt; margin-right: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Level 1:&#160; Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets and liabilities;</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 18pt; margin-right: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Level 2:&#160; Quoted prices in the markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; or</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Level 3:&#160; Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity).</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">As of September 30, 2018 and December 31, 2017, we did not have any financial instruments with significant Level 3 inputs and we did not have any financial instruments that are measured at fair value on a recurring basis.</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">As of September 30, 2018 and December 31, 2017, the carrying value of the Company's 12% Cumulative Exchangeable Redeemable Preferred Stock, par value $.01 per share (the "Public Preferred Stock") was $134.4 million and $131.6 million, respectively, and the estimated fair market value was $41.2 million and $42.2 million, respectively, based on quoted market prices.</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">For certain of our non-derivative financial instruments, including receivables, accounts payable and other accrued liabilities, the carrying amount approximates fair value due to the short-term maturities of these instruments. The estimated fair value of the Facility and long-term debt is based primarily on borrowing rates currently available to the Company for similar debt issues. The fair value approximates the carrying value of long-term debt.</div><div><br /></div></div> 5800000 0 1031000 1000000 1000000 14916000 14916000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Goodwill</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">We evaluate the impairment of goodwill and other intangible assets in accordance with ASC 350, "Intangibles - Goodwill and Other," which requires goodwill and indefinite-lived intangible assets to be assessed on at least an annual basis for impairment using a fair value basis. Between annual evaluations, if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount, then impairment must be evaluated. Such circumstances could include, but are not limited to: (1) a significant adverse change in legal factors or business climate, or (2) a loss of key contracts or customers.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">As the result of an acquisition, we record any excess purchase price over the net tangible and identifiable intangible assets acquired as goodwill. An allocation of the purchase price to tangible and intangible net assets acquired is based upon our valuation of the acquired assets. Goodwill is not amortized, but is subject to annual impairment tests. We complete our goodwill impairment tests as of December 31st each year. Additionally, we make evaluations between annual tests if events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The evaluation is based on the estimation of the fair values of our three reporting units, CO&amp;D, Identity Management, and IT and Enterprise Solutions, of which goodwill is housed in the CO&amp;D reporting unit, in comparison to the reporting unit's net asset carrying values. Our discounted cash flows required management judgment with respect to forecasted revenue streams and operating margins, capital expenditures and the selection and use of an appropriate discount rate. We utilized the weighted average cost of capital as derived by certain assumptions specific to our facts and circumstances as the discount rate. The net assets attributable to the reporting units are determined based upon the estimated assets and liabilities attributable to the reporting units in deriving its free cash flows. In addition, the estimate of the total fair value of our reporting units is compared to the market capitalization of the Company. The Company's assessment resulted in a fair value that was greater than the Company's carrying value, therefore the second step of the impairment test, as prescribed by the authoritative literature, was not required to be performed and no impairment of goodwill was recorded as of&#160; December 31, 2017. There were no triggering events which would require goodwill impairment consideration during the quarter. Subsequent reviews may result in future periodic impairments that could have a material adverse effect on the results of operations in the period recognized. Certain negative potential events, such as a material loss or losses on contracts, or failure to achieve projected growth could result in impairment in the future. We estimate fair value of our reporting unit and compare the valuation with the respective carrying value for the reporting unit to determine whether any goodwill impairment exists. If we determine through the impairment review process that goodwill is impaired, we will record an impairment charge in our consolidated statements of operations. Goodwill is amortized and deducted over a 15-year period for tax purposes.</div><div><br /></div></div> <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: justify; margin-right: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Note 3</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Goodwill</font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">The goodwill balance was $14.9 million as of September 30, 2018 and December 31, 2017. </font>Goodwill is subject to annual impairment tests and if triggering events are present before the annual tests, we will assess impairment. As of September 30, 2018, no impairment charges were taken.</div><div><br /></div></div> 3479000 -1755000 4722000 -7573000 -106000 529000 -41000 211000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Note 7</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Income Taxes</font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">The income tax provision for interim periods is determined using an estimated annual effective tax rate adjusted for discrete items, if any, which are taken into account in the quarterly period in which they occur.&#160; We review and update our estimated annual effective tax rate each quarter. </font>The 2018 tax rate reflects the enactment of the Tax Cuts and Jobs Act of 2017 ("Tax Act"), which permanently reduced the U.S. corporate statutory rate from 35% to 21% effective January 1, 2018. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">For the three and nine months ended September 30, 2018 and 2017, </font>our estimated annual effective tax rate was primarily impacted by the overall valuation allowance position which reduced the net tax impact from taxable income (loss) for all periods. Accordingly, we recorded an approximately $106,000 and $41,000 income tax benefit for the three and nine months ended September 30, 2018, respectively, and $211,000 and $529,000 income tax provision for the three and nine months ended September 30, 2017, respectively.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In 2017, in accordance with Staff Accounting Bulletin No. 118, "Income Tax Accounting Implications of the Tax Cuts and Jobs Act", we recorded provisional amounts related to the Tax Act, including the remeasurement of our deferred tax assets and liabilities and the valuation allowance related to the hanging credit deferred tax liability. We continue to evaluate the impact of the Tax Act, which may result in changes to our tax estimates.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">We are required to establish a valuation allowance for deferred tax assets if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on available evidence, realization of deferred tax assets is dependent upon the generation of future taxable income.&#160;We considered projected future taxable income, tax planning strategies, and reversal of taxable temporary differences in making this assessment. As such, we have determined that a full valuation allowance is required as of September 30, 2018 and December 31, 2017.&#160;Under the Tax Act, we will be able to use our hanging credit deferred tax liabilities as a source of taxable income to support the indefinite-lived net operating losses created by the future reversal of our temporary differences. Accordingly, we have re-measured our existing deferred tax assets and liabilities using the enacted tax rate, and adjusted the valuation allowance on our deferred taxes and, as a result, a deferred tax liability related to goodwill of $779,000 and $741,000 remains on our condensed consolidated balance sheets at September 30, 2018 and December 31, 2017, respectively.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Under the provisions of ASC 740-10, we determined that<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;"> there were approximately $700,000 and $677,000 of unrecognized tax benefits, </font>including $289,000 and $266,000 of related interest and penalties, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">required to be recorded </font>in other liabilities in the condensed consolidated balance sheets <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">as of September 30, 2018 and December 31, 2017, respectively. </font>We believe that the total amounts of unrecognized tax benefits will not significantly increase or decrease within the next 12 months.</div><div><br /></div></div> <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Income Taxes</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">We account for income taxes in accordance with ASC 740-10, "Income Taxes."&#160; Under ASC 740-10, deferred tax assets and liabilities are recognized for the estimated future tax consequences of temporary differences and income tax credits.&#160; Deferred tax assets and liabilities are measured by applying enacted statutory tax rates that are applicable to the future years in which deferred tax assets or liabilities are expected to be settled or realized for differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities.&#160; Any change in tax rates on deferred tax assets and liabilities is recognized in net income in the period in which the tax rate change is enacted.&#160; We record a valuation allowance that reduces deferred tax assets when it is "more likely than not" that deferred tax assets will not be realized.&#160; We are required to establish a valuation allowance for deferred tax assets if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on available evidence, realization of deferred tax assets is dependent upon the generation of future taxable income.&#160; We considered projected future taxable income, tax planning strategies, and reversal of taxable temporary differences in making this assessment. As such, we have determined that a full valuation allowance is required as of September 30, 2018 and December 31, 2017.&#160;As a result of a full valuation allowance against our deferred tax assets, a deferred tax liability (hanging credit) related to goodwill remains on our condensed consolidated balance sheets at September 30, 2018 and December 31, 2017. Due to the tax reform enacted on December 22, 2017, net operating losses generated in taxable years beginning after December 31, 2017 will have an indefinite carryforward period, which will be available to offset future taxable income created by the reversal of temporary taxable differences related to goodwill. As a result, we have adjusted the valuation allowance on our deferred tax assets and liabilities at September 30, 2018 and December 31, 2017.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">We follow the provisions of ASC 740-10 related to accounting for uncertainty in income taxes. The accounting estimates related to liabilities for uncertain tax positions require us to make judgments regarding the sustainability of each uncertain tax position based on its technical merits. If we determine it is more likely than not that a tax position will be sustained based on its technical merits, we record the impact of the position in our consolidated financial statements at the largest amount that is greater than fifty percent likely of being realized upon ultimate settlement. These estimates are updated at each reporting date based on the facts, circumstances and information available. We are also required to assess at each reporting date whether it is reasonably possible that any significant increases or decreases to our unrecognized tax benefits will occur during the next 12 months.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The provision for income taxes in interim periods is computed by applying the estimated annual effective tax rate against earnings before income tax expense for the period. In addition, non-recurring or discrete items are recorded during the period in which they occur.</div><div><br /></div></div> 19000 25000 -575000 4399000 218000 229000 78000 99000 99000 229000 78000 218000 4993000 1722000 5101000 1717000 1300000 1100000 400000 400000 1773000 1860000 1484000 916000 15000000 9700000 8776000 13520000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Inventories </font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Inventories are stated at the lower of cost or net realizable value, where cost is determined on the weighted average method. Substantially all inventories consist of purchased commercial off-the-shelf hardware and software, and component computer parts used in connection with system integration services that we perform. An allowance for obsolete, slow-moving or nonsalable inventory is provided for all other inventory. This allowance is based on our overall obsolescence experience and our assessment of future inventory requirements. This charge is taken primarily due to the age of the specific inventory and the significant additional costs that would be necessary to upgrade to current standards as well as the lack of forecasted sales for such inventory in the near future. Gross inventory is <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">$9.7 million</font> and <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">$15.0 million</font> as of September 30, 2018 and December 31, 2017<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">, respectively. As of September 30, 2018, it is management's judgment that we have fully provided for any potential inventory obsolescence, </font>which was $0.9 million and $1.5 million as of September 30, 2018 and December 31, 2017, respectively.</div><div><br /></div></div> 200757000 210458000 74421000 70974000 34060000 46225000 11000000 0 10786000 10931000 0.12 0.06 0.12 0.06 913000 1255000 773000 235000 2229000 1086000 2573000 233000 1138000 227000 0 0 0 0 0 0 0 0 2573000 233000 0 0 0 227000 0 1138000 0 0 0 0 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Note 2.&#160; Non-controlling Interests</font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">On April 11, 2007, Telos ID was formed as a limited liability company under the Delaware Limited Liability Company Act. We contributed substantially all of the assets of our Identity Management business line and assigned our rights to perform under our U.S. Government contract with the Defense Manpower Data Center ("DMDC") to Telos ID at their stated book values. The net book value of assets we contributed totaled $17,000. Until April 19, 2007, we owned 99.999% of the membership interests of Telos ID and </font>certain private equity investors ("Investors")<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;"> owned 0.001% of the membership interests of Telos ID. On April 20, 2007, we sold an additional 39.999% of the membership interests to the Investor in exchange for $6 million in cash consideration. In accordance with ASC 505-10, "Equity-Overall," we recognized a gain of $5.8 million. </font>As a result, we owned 60% of Telos ID, and therefore continued to account for the investment in Telos ID using the consolidation method.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">On December 24, 2014 (the "Closing Date"), we entered into a Membership Interest Purchase Agreement (the "Purchase Agreement"), between the Company and the Investors, pursuant to which the Investors acquired from the Company an additional ten percent (10%) membership interest in Telos ID in exchange for $5 million (the "Transaction"). In connection with the Transaction, the Company and the Investors entered into the Second Amended and Restated Operating Agreement (the "Operating Agreement") governing the business, allocation of profits and losses and management of Telos ID.<!--Anchor--> Under the Operating Agreement, Telos ID is managed by a board of directors comprised of five (5) members (the "Telos ID Board"). The Operating Agreement provides for two classes of membership units, Class A (owned by the Company) and Class B (owned by the Investors). The Class A member (the Company) owns 50% of Telos ID, is entitled to receive 50% of the profits of Telos ID, and may appoint three (3) members of the Telos ID Board. The Class B member (the Investors) owns 50% of Telos ID, is entitled to receive 50% of the profits of Telos ID, and may appoint two (2) members of the Telos ID Board.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">Despite the post-Transaction ownership of Telos ID being evenly split at 50% by each member, Telos maintains control of the subsidiary through its holding of three of the five Telos ID board of director seats.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 1.2pt; text-indent: 18pt;">Under the Operating Agreement, the Class A and Class B members each have certain options with regard to the ownership interests held by the other party including the following:</div><div><br /></div><div style="text-align: left;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td style="width: 18pt;"></td><td style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 18pt; vertical-align: top; align: right;">&#9679;</td><td style="width: auto; vertical-align: top; text-align: left;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Upon the occurrence of a change in control of the Class A member (as defined in the Operating Agreement, a "Change in Control"), the Class A member has the option to purchase the entire membership interest of the Class B member.</div></td></tr></table></div><div style="text-align: left;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td style="width: 18pt;"></td><td style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 18pt; vertical-align: top; align: right;">&#9679;</td><td style="width: auto; vertical-align: top; text-align: left;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Upon the occurrence of the following events: (i) the involuntary termination of John B. Wood as CEO and chairman of the Class A member; (ii) the bankruptcy of the Class A member; or (iii) unless the Class A member exercises its option to acquire the entire membership interest of the Class B member upon a Change in Control of the Class A member, the transfer or issuance of more than fifty-one percent (51%) of the outstanding voting securities of the Class A member to a third party, the Class B member has the option to purchase the membership interest of the Class A member; provided, however, that in the event that the Class B member exercises the foregoing option, the Class A Member may then choose to purchase the entire interest of the Class B member.</div></td></tr></table></div><div style="text-align: left;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td style="width: 18pt;"></td><td style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 18pt; vertical-align: top; align: right;">&#9679;</td><td style="width: auto; vertical-align: top; text-align: left;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">In the event that more than fifty percent (50%) of the ownership interests in the Class B member are transferred to persons or individuals (other than members of the immediate family of the initial owners of the Class B member) without the consent of Telos ID, the Class A member has the option to purchase the entire membership interest of the Class B member.</div></td></tr></table></div><div style="text-align: left;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td style="width: 18pt;"></td><td style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 18pt; vertical-align: top; align: right;">&#9679;</td><td style="width: auto; vertical-align: top; text-align: left;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The Class B member has the option to sell its interest to the Class A member at any time if there is not a letter of intent to sell Telos ID, a binding contract to sell all of the assets or membership interests in Telos ID, or a standstill for due diligence with respect to a sale of Telos ID. Notwithstanding the foregoing, the Class A member will not be obligated to purchase the interest of the Class B member if that purchase would constitute a violation of any existing line of credit available to the Company after giving effect to that purchase and the applicable lender refuses to consent to that purchase or to waive such violation.</div></td></tr></table></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 1.2pt; text-indent: 18pt;">If either the Class A member or the Class B member elects to sell its interest or buy the other member's interest upon the occurrence of any of the foregoing events, the purchase price for the interest will be based on an appraisal of Telos ID prepared by a nationally recognized investment banker. If the Class A member fails to satisfy its obligation, subject to the restrictions in the Purchase Agreement, to purchase the interest of the Class B member under the Operating Agreement, the Class B member may require Telos ID to initiate a sales process for the purpose of seeking an offer from a third party to purchase Telos ID that maximizes the value of Telos ID. The Telos ID Board must accept any offer from a bona fide third party to purchase Telos ID if that offer is approved by the Class B member, unless the purchase of Telos ID would violate the terms of any existing line of credit available to the Company and the applicable lender does not consent to that purchase or waive the violation. The sale process is the sole remedy available to the Class B member if the Class A member does not purchase its membership interest.&#160; Under such a forced sale scenario, a sales process would result in both members receiving their proportionate membership interest share of the sales proceeds and both members would always be entitled to receive the same form of consideration.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Pursuant to the Transaction, the Class A and Class B members each owns 50% of Telos ID, as mentioned above, and as such was allocated 50% of the profits, which was $0.7 million and $1.5 million for the three and nine months ended September 30, 2018, respectively, and $1.1 million and $1.4 million for the three and nine months ended September 30, 2017, respectively. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">The Class B member is the non-controlling interest.</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Distributions are made to the members only when and to the extent determined by the Telos ID's Board of Directors, in accordance with the Operating Agreement. The Class B member received a total $0.2 million and $1.1 million for the three and nine months ended September 30, 2018, respectively, and $0.2 million and $2.6 million for the three and nine months ended September 30, 2017, respectively, of such distributions.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">The following table details the changes in non-controlling interest for the three and nine months ended September 30, 2018 and 2017 (in thousands):</font></div><div style="text-align: left; text-indent: 18pt;"><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Three Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Nine Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Non-controlling interest, beginning of period</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">773</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">235</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">913</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">2,229</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Net income</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">715</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,078</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,480</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,430</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 1px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Distributions</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(233</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(227</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(1,138</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(2,573</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 3px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Non-controlling interest, end of period</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,255</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,086</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,255</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,086</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td></tr></table><div style="clear: both;"><br /></div></div> 0.350 0.00001 -1888000 4074000 -1556000 -2832000 715000 1078000 1480000 1430000 -2924000 4535000 -9532000 4113000 2040000 -3044000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Recent Accounting Pronouncements</div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left;">Recent Accounting Pronouncements Adopted</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In May 2014, the Financial Accounting Standards Board ("FASB")&#160; issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers," which requires an entity to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. In July 2015, the FASB finalized the delay of the effective date by one year, making the new standard effective for interim periods and annual period beginning after December 15, 2017. In March 2016, the FASB issued ASU 2016-08, "Revenues from Contract with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)," which clarifies the implementation guidance in ASU 2014-09 relating to principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10,&#160;"Revenue from Contracts with Customers (Topic 606) - Identifying Performance Obligations and Licensing," which further clarifies the implementation guidance relating to identifying performance obligations and the licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, "Revenue from Contracts with Customers (Topic 606):&#160;&#160;Narrow Scope Improvements and Practical Expedients," which clarifies the implementation guidance related to collectability, presentation of sales tax, noncash consideration, contract modifications and completed contracts at transition. These standards can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. We adopted the standard on January 1, 2018 using the modified retrospective method, and reflecting cumulative changes in accumulated deficit.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">As a result of the adoption of the ASC 606 standard on January 1, 2018, we determined that certain contractual arrangements required adjustment in order to appropriately reflect revenue recognition under the new standard.&#160; For contracts for term-based license subscriptions that were in process at January 1, 2018, it was determined that the license was a distinct performance obligation where transfer of control of the license to the customer had occurred. Accordingly, the amount of revenue allocated to those performance obligations was reflected in the cumulative adjustment to our accumulated deficit in accordance with our election of the modified retrospective transition method as prescribed by the new standard.&#160; This adjustment included two contracts for an aggregate cumulative adjustment to decrease accumulated deficit of $3.9 million, which adjusted contract liabilities by the same amount. The remaining performance obligations under the contracts were adjusted to reflect the adjusted allocation of the transaction price to these performance obligations. Additionally, upon adoption of the new standard it was determined that certain contractual arrangements for the provision of resold information technology products that had previously been accounted for on a gross revenue basis under the prior standard would appropriately be recognized on a net revenue basis and reflected in services revenue.&#160; There were no contracts of this type in process that were included in the accumulated deficit adjustment.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230): Classification of certain cash receipts and cash payments," which intends to reduce the diversity in practice in how certain transactions are classified on the statement of cash flows. This standard will be effective retrospectively for interim and annual reporting periods beginning after December 31, 2017, and early adoption is permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In November 2016, the FASB issued ASU 2016-18, "Statement of Cash Flows (Topic 230) &#8211; Restricted Cash," which requires the presentation of changes in restricted cash or restricted cash equivalents on the statement of cash flows. This standard will be effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting," which amends the scope of modification accounting for share-based payment arrangements, provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. This ASU is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left;">Recent Accounting Pronouncements Not Yet Adopted</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)." The guidance in this update supersedes the requirements in Accounting Standards Codification ("ASC") Topic 840, Leases. The update will require business entities to recognize lease assets and liabilities on the balance sheet and to disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. This update will be effective for interim and annual periods beginning after December 15, 2018, and is to be applied on a modified retrospective basis. In July 2018, the FASB issued ASU 2018-11, "Leases (Topic 842): Targeted Improvements", which provides an alternative modified retrospective transition method.&#160;Under this new transition method, an entity initially applies this new lease standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retaining earnings in the period of adoption.&#160; The effective date of the amendments in this ASU related to transition are the same as the effective date for ASU 2016-02. We are currently assessing the impact the adoption of this ASU will have on our condensed consolidated financial position, results of operations and cash flows.&#160; We expect to recognize increases in reported amounts for property and equipment, and related lease liabilities upon the adoption of this standard, and are still evaluating the impact it will have on results of operations.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In June 2016, the FASB issued ASU 2016-13,&#160;"Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which introduces new guidance for estimating credit losses on certain types of financial instruments based on expected losses and the timing of the recognition of such losses. This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. While we are currently assessing the impact the adoption of this ASU will have on our condensed consolidated financial position, results of operations and cash flows, we do not believe the adoption of this ASU will have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which eliminates Step 2 of the current goodwill impairment test, which requires a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment loss will instead be measured at the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the recorded amount of goodwill. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted for any impairment test performed on testing dates after January 1, 2017. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework &#8211; Changes to the Disclosure Requirements for Fair Value Measurement", which modifies the disclosure requirement for fair value measurement under ASC 820 to improve the effectiveness of such disclosures. Those modification include the removal and addition of disclosure requirement as well as clarifying specific disclosure requirements.&#160; This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In August 2018, the FASB issued ASU No.&#160;2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract," which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software.&#160; This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div></div> 3 1 8570000 -34000 6436000 -2587000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Note 1</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">General and Basis of Presentation</font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 8.85pt; text-indent: 18pt;">Telos Corporation, together with its subsidiaries (the "Company" or "Telos" or "We"), is an information technology solutions and services company addressing the needs of U.S. Government and commercial customers worldwide. Our principal offices are located at 19886 Ashburn Road, Ashburn, Virginia 20147. The Company was incorporated as a Maryland corporation in October 1971. Our website is <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">www.telos.com</font>.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 8.85pt; text-indent: 18pt;">The accompanying condensed consolidated financial statements include the accounts of Telos and its subsidiaries, including Ubiquity.com, Inc., Xacta Corporation, and Teloworks, Inc., all of whose issued and outstanding share capital is owned by the Company. We have also consolidated the results of operations of Telos Identity Management Solutions, LLC ("Telos ID") (see Note 2 &#8211; Non-controlling Interests). All intercompany transactions have been eliminated in consolidation.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 8.85pt; text-indent: 18pt;">In our opinion, the accompanying condensed consolidated financial statements reflect all adjustments (which include normal recurring adjustments) and reclassifications necessary for their fair presentation in conformity with accounting principles generally accepted in the United States of America ("GAAP") and pursuant to rules and regulations of the Securities and Exchange Commission ("SEC"). The presented interim results are not necessarily indicative of fiscal year performance for a variety of reasons including, but not limited to, the impact of seasonal and short-term variations. We have continued to follow the accounting policies (including the critical accounting policies) set forth in the consolidated financial statements included in our 2017 Annual Report on Form 10-K filed with the SEC. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">December 31, 2017.</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 8.85pt; text-indent: 18pt;">In preparing these condensed consolidated financial statements, we have evaluated subsequent events through the date that these condensed consolidated financial statements were issued.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Segment Reporting</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker ("CODM"), or decision making group, in deciding how to allocate resources and assess performance. We currently operate in one operating and reportable business segment for financial reporting purposes.&#160; Our Chief Executive Officer is the CODM. The CODM only evaluates profitability based on consolidated results.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Recent Accounting Pronouncements</div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left;">Recent Accounting Pronouncements Adopted</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In May 2014, the Financial Accounting Standards Board ("FASB")&#160; issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers," which requires an entity to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. In July 2015, the FASB finalized the delay of the effective date by one year, making the new standard effective for interim periods and annual period beginning after December 15, 2017. In March 2016, the FASB issued ASU 2016-08, "Revenues from Contract with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)," which clarifies the implementation guidance in ASU 2014-09 relating to principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10,&#160;"Revenue from Contracts with Customers (Topic 606) - Identifying Performance Obligations and Licensing," which further clarifies the implementation guidance relating to identifying performance obligations and the licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, "Revenue from Contracts with Customers (Topic 606):&#160;&#160;Narrow Scope Improvements and Practical Expedients," which clarifies the implementation guidance related to collectability, presentation of sales tax, noncash consideration, contract modifications and completed contracts at transition. These standards can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. We adopted the standard on January 1, 2018 using the modified retrospective method, and reflecting cumulative changes in accumulated deficit.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">As a result of the adoption of the ASC 606 standard on January 1, 2018, we determined that certain contractual arrangements required adjustment in order to appropriately reflect revenue recognition under the new standard.&#160; For contracts for term-based license subscriptions that were in process at January 1, 2018, it was determined that the license was a distinct performance obligation where transfer of control of the license to the customer had occurred. Accordingly, the amount of revenue allocated to those performance obligations was reflected in the cumulative adjustment to our accumulated deficit in accordance with our election of the modified retrospective transition method as prescribed by the new standard.&#160; This adjustment included two contracts for an aggregate cumulative adjustment to decrease accumulated deficit of $3.9 million, which adjusted contract liabilities by the same amount. The remaining performance obligations under the contracts were adjusted to reflect the adjusted allocation of the transaction price to these performance obligations. Additionally, upon adoption of the new standard it was determined that certain contractual arrangements for the provision of resold information technology products that had previously been accounted for on a gross revenue basis under the prior standard would appropriately be recognized on a net revenue basis and reflected in services revenue.&#160; There were no contracts of this type in process that were included in the accumulated deficit adjustment.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230): Classification of certain cash receipts and cash payments," which intends to reduce the diversity in practice in how certain transactions are classified on the statement of cash flows. This standard will be effective retrospectively for interim and annual reporting periods beginning after December 31, 2017, and early adoption is permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In November 2016, the FASB issued ASU 2016-18, "Statement of Cash Flows (Topic 230) &#8211; Restricted Cash," which requires the presentation of changes in restricted cash or restricted cash equivalents on the statement of cash flows. This standard will be effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting," which amends the scope of modification accounting for share-based payment arrangements, provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. This ASU is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic; text-align: left;">Recent Accounting Pronouncements Not Yet Adopted</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)." The guidance in this update supersedes the requirements in Accounting Standards Codification ("ASC") Topic 840, Leases. The update will require business entities to recognize lease assets and liabilities on the balance sheet and to disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. This update will be effective for interim and annual periods beginning after December 15, 2018, and is to be applied on a modified retrospective basis. In July 2018, the FASB issued ASU 2018-11, "Leases (Topic 842): Targeted Improvements", which provides an alternative modified retrospective transition method.&#160;Under this new transition method, an entity initially applies this new lease standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retaining earnings in the period of adoption.&#160; The effective date of the amendments in this ASU related to transition are the same as the effective date for ASU 2016-02. We are currently assessing the impact the adoption of this ASU will have on our condensed consolidated financial position, results of operations and cash flows.&#160; We expect to recognize increases in reported amounts for property and equipment, and related lease liabilities upon the adoption of this standard, and are still evaluating the impact it will have on results of operations.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In June 2016, the FASB issued ASU 2016-13,&#160;"Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which introduces new guidance for estimating credit losses on certain types of financial instruments based on expected losses and the timing of the recognition of such losses. This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. While we are currently assessing the impact the adoption of this ASU will have on our condensed consolidated financial position, results of operations and cash flows, we do not believe the adoption of this ASU will have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which eliminates Step 2 of the current goodwill impairment test, which requires a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment loss will instead be measured at the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the recorded amount of goodwill. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted for any impairment test performed on testing dates after January 1, 2017. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework &#8211; Changes to the Disclosure Requirements for Fair Value Measurement", which modifies the disclosure requirement for fair value measurement under ASC 820 to improve the effectiveness of such disclosures. Those modification include the removal and addition of disclosure requirement as well as clarifying specific disclosure requirements.&#160; This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">In August 2018, the FASB issued ASU No.&#160;2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract," which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software.&#160; This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Revenue Recognition</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">We account for revenue in accordance with ASC Topic 606, "Revenue from Contracts with Customers." The unit of account in ASC 606 is a performance obligation, which is a promise, in a contract with a customer, to transfer a good or service to the customer. ASC 606 prescribes a five-step model for recognizing revenue that includes identifying the contract with the customer, determining the performance obligation(s), determining the transaction price, allocating the transaction price to the performance obligation(s), and recognizing revenue as the performance obligations are satisfied. Timing of the satisfaction of performance obligations varies across our businesses due to our diverse product and service mix, customer base, and contractual terms. Significant judgment can be required in determining certain performance obligations, and these determinations could change the amount of revenue and profit recorded in a given period.&#160; Our contracts may have a single performance obligation or multiple performance obligations. When there are multiple performance obligations within a contract, we allocate the transaction price to each performance obligation based on our best estimate of standalone selling price.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">We account for a contract after it has been approved by the parties to the contract, the rights and the payment terms of the parties are identified, the contract has commercial substance and collectability is probable, which is presumed for our U.S. Government customers and prime contractors for which we perform as subcontractors to U.S. Government end-customers.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The majority of our revenue is recognized over time, as control is transferred continuously to our customers who receive and consume benefits as we perform, and is classified as services revenue.&#160; All of our business groups earn services revenue under a variety of contract types, including time and materials, firm-fixed price, firm fixed price level of effort, and cost plus fixed fee contract types, which may include variable consideration as discussed further below. Revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, material, subcontractor costs and indirect expenses. This continuous transfer of control to the customer is supported by clauses in our contracts with U.S. Government customers whereby the customer may terminate a contract for convenience and then pay for costs incurred plus a profit, at which time the customer would take control of any work in process. For non-U.S. Government contracts where we perform as a subcontractor and our order includes similar Federal Acquisition Regulation (the FAR) provisions as the prime contractor's order from the U.S. Government, continuous transfer of control is likewise supported by such provisions. For other non-U.S. Government customers, continuous transfer of control to such customers is also supported due to general terms in our contracts and rights to recover damages which would include, among other potential damages, the right to payment for our work performed to date plus a reasonable profit.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Due to the transfer of control over time, revenue is recognized based on progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the performance obligations. We generally use the cost-to-cost measure of progress on a proportional performance basis for our contracts because it best depicts the transfer of control to the customer which occurs as we incur costs on our contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. Due to the nature of the work required to be performed on certain of our performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment.&#160; Contract estimates are based on various assumptions including labor and subcontractor costs, materials and other direct costs and the complexity of the work to be performed. A significant change in one or more of these estimates could affect the profitability of our contracts. We review and update our contract-related estimates regularly and recognize adjustments in estimated profit on contracts on a cumulative catch-up basis, which may result in an adjustment increasing or decreasing revenue to date on a contract in a particular period that the adjustment is identified. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Revenue that is recognized at a point in time is for the sale of software licenses in our Cyber Operations and Defense ("CO&amp;D") and IT &amp; Enterprise Solutions business groups and for the sale of resold products in Telos ID and CO&amp;D and is classified as product revenue.&#160; Revenue on these contracts is recognized when the customer obtains control of the transferred product or service, which is generally upon delivery of the product to the customer for their use, due to us maintaining control of the product until that point. Orders for the sale of software licenses may contain multiple performance obligations, such as maintenance, training, or consulting services, which are typically delivered over time, consistent with the transfer of control disclosed above for the provision of services. When an order contains multiple performance obligations, we allocate the transaction price to the performance obligations using our best estimate of standalone selling price.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Contracts are routinely and often modified to account for changes in contract requirements, specifications, quantities, or price.&#160; Depending on the nature of the modification, we determine whether to account for the modification as an adjustment to the existing contract or as a new contract.&#160; Generally, modifications are not distinct from the existing contract due to the significant interrelatedness of the performance obligations and are therefore accounted for as an adjustment to the existing contract, and recognized as a cumulative adjustment to revenue (as either an increase or reduction of revenue) based on the modification's effect on progress toward completion of a performance obligation.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Our contracts may include various types of variable consideration, such as claims (for instance indirect rate or other equitable adjustments) or incentive fees. We include estimated amounts in the transaction price based on all of the information available to us, including historical information and future estimations, and to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when any uncertainty associated with the variable consideration is resolved. We have revised and re-submitted several years of incurred cost submissions reflecting certain indirect rate structure changes as a result of regular DCAA audits of incurred cost submissions. This resulted in signed final rate agreement letters for 2011 to 2013 and conformed incurred cost submissions for 2014 to 2015. We evaluated the resulting changes to revenue under the applicable cost plus fixed fee contracts for the years 2011 to 2015 as variable consideration, and determined the most likely amount to which we expect to be entitled, to the extent that no constraint exists that would preclude recognizing this revenue or result in a significant reversal of cumulative revenue recognized. We have included these estimated amounts of variable consideration in the transaction price and as performance on these contracts is complete, we have recognized revenue of $5.6 million in the current period.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Historically, most of our contracts do not include award or incentive fees. For incentive fees, we would include such fees in the transaction price to the extent we could reasonably estimate the amount of the fee.&#160; With limited historical experience, we have not included any revenue related to incentive fees in our estimated transaction prices.&#160; We may include in our contract estimates additional revenue for submitted contract modifications or claims against the customer when we believe we have an enforceable right to the modification or claim, the amount can be estimated reliably and its realization is probable. We consider the contractual/legal basis for the claim (in particular FAR provisions), the facts and circumstances around any additional costs incurred, the reasonableness of those costs and the objective evidence available to support such claims.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">For our contracts that have an original duration of one year or less, we use the practical expedient applicable to such contracts and do not consider the time value of money. We capitalize sales commissions related to proprietary software and related services that are directly tied to sales. We do not elect the practical expedient to expense as incurred the incremental costs of obtaining a contract if the amortization period would have been one year or less. For the sales commissions that are capitalized, we amortize the asset over the expected customer life, which is based on recent and historical data.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 4.5pt; text-indent: 18pt;">Contract assets&#160;are amounts that are invoiced as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals or upon achievement of contractual milestones. Generally, revenue recognition occurs before billing, resulting in contract assets. These contract assets are referred to as unbilled receivables and are reported within accounts receivable, net of reserve on our condensed consolidated balance sheet.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 4.5pt; text-indent: 18pt;">Billed receivables are amounts billed and due from our customers that are classified as billed receivables and are reported within accounts receivable, net of reserve on the condensed consolidated balance sheet. The portion of the payments retained by the customer until final contract settlement is not considered a significant financing component due to the intent of the retainage being the customer's protection with respect to full and final performance under the contract.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 4.5pt; text-indent: 18pt;">Contract liabilities&#160;are payments received in advance and milestone payments from our customers on selected contracts that exceed revenue earned to date, resulting in contract liabilities. Contract liabilities typically are not considered a significant financing component because they are typically satisfied within one year and are used to meet working capital demands that can be higher in the early stages of a contract. Contract liabilities are reported on our condensed consolidated balance sheet on a net contract basis at the end of each reporting period.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">We have one reportable segment. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">We treat sales to U.S. customers as sales within the U.S. regardless of where the services are performed. Substantially all of our revenues are from U.S. customers as international customers revenue is de minimus. The following tables disclose revenue (in thousands) by customer type and contract type for the periods presented.&#160; Prior period amounts have not been adjusted under the modified retrospective method.</font></div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Three Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Nine Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">Federal</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">32,784</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">26,358</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">95,354</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">68,040</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 1px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">State &amp; Local, and Commercial</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,911</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,885</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">6,685</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4,410</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 3px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">&#160;&#160;&#160;&#160;&#160;&#160;Total</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">34,695</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">28,243</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">102,039</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">72,450</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Three Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Nine Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Firm fixed-price</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">21,154</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">24,314</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">74,249</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">59,782</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">Time-and-materials</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4,404</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">2,336</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">12,260</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">7,466</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 1px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">Cost plus fixed fee</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">9,137</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,593</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">15,530</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">5,202</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 3px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">&#160;&#160;&#160;&#160;&#160;&#160;Total</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">34,695</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">28,243</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">102,039</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">72,450</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The following table discloses contract receivables (in thousands):</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">September 30, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">January 1, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center; text-indent: 3pt;">December 31, 2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Billed accounts receivable</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,485</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,736</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,736</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Unbilled receivables</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">16,077</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">13,195</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">13,195</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; padding-bottom: 1px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Allowance for doubtful accounts</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(300</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(411</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(411</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; padding-bottom: 3px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Receivables &#8211; net</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">26,262</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">24,520</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">24,520</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The following table discloses contract liabilities (in thousands):</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">September 30, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">January 1, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center; text-indent: 3pt;">December 31, 2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Contract liabilities</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4,464</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,073</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,073</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">As of September 30, 2018, we had $91.1 million of remaining performance obligations, which we also refer to as funded backlog. We expect to recognize approximately 41.8% of our remaining performance obligations as revenue in 2018, an additional 56.4% by 2020 and the balance thereafter.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left; margin-right: 86.75pt;">Accounts Receivable</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Accounts receivable are stated at the invoiced amount, less allowances for doubtful accounts. Collectability of accounts receivable is regularly reviewed based upon management's knowledge of the specific circumstances related to overdue balances. The allowance for doubtful accounts is adjusted based on such evaluation. Accounts receivable balances are written off against the allowance when management deems the balances uncollectible.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">On July 15, 2016, the Company entered into an accounts receivable purchase agreement under which the Company sells certain accounts receivable to a third party, or the "Factor", without recourse to the Company. The Factor initially pays the Company 90% of U.S. Federal government receivables or 85% of certain commercial prime contractors. The remaining payment is deferred and based on the amount the Factor receives from our customer, less a discount fee and a program access fee that is determined by the amount of time the receivable is outstanding before payment. The structure of the transaction provides for a true sale of the receivables transferred. Accordingly, upon transfer of the receivable to the Factor, the receivable is removed from the Company's condensed consolidated balance sheet, a loss on the sale is recorded and the residual amount remains a deferred payment as an accounts receivable until payment is received from the Factor. The balance of the sold receivables may not exceed&#160;$10 million. During the three and nine months ended September 30, 2018, the Company sold approximately&#160;$6.0 million and $11.1 million of receivables, respectively, and recognized a related loss of approximately $21,000 and&#160;$39,000 in selling, general and administrative expenses, respectively, for the same period. During the three and nine months ended September 30, 2017, the Company sold approximately&#160;$13.9 million and $22.1 million of receivables, respectively, and recognized a related loss of approximately&#160;$49,000 and $78,000 in selling, general and administrative expenses, respectively, for the same period. As of&#160;September 30, 2018, the balance of the sold receivables was approximately $2.9 million, and the related deferred price was approximately $0.4 million. As of December 31, 2017, there were no outstanding sold receivables.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Inventories </font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Inventories are stated at the lower of cost or net realizable value, where cost is determined on the weighted average method. Substantially all inventories consist of purchased commercial off-the-shelf hardware and software, and component computer parts used in connection with system integration services that we perform. An allowance for obsolete, slow-moving or nonsalable inventory is provided for all other inventory. This allowance is based on our overall obsolescence experience and our assessment of future inventory requirements. This charge is taken primarily due to the age of the specific inventory and the significant additional costs that would be necessary to upgrade to current standards as well as the lack of forecasted sales for such inventory in the near future. Gross inventory is <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">$9.7 million</font> and <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">$15.0 million</font> as of September 30, 2018 and December 31, 2017<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">, respectively. As of September 30, 2018, it is management's judgment that we have fully provided for any potential inventory obsolescence, </font>which was $0.9 million and $1.5 million as of September 30, 2018 and December 31, 2017, respectively.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left; margin-right: 86.75pt;">Software Development Costs</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Software development costs for software to be sold, leased or otherwise marketed are expensed as incurred until technological feasibility is reached, at which time additional costs are capitalized until the product is available for general release to customers. Technological feasibility is established when all planning, designing, coding and testing activities have been completed, and all risks have been identified.&#160; Beginning with the second quarter of 2017, software development costs are capitalized and amortized over the estimated product life of 2 years on a straight-line basis. As of September 30, 2018, we capitalized $2.8 million of software development costs, which are included as a part of property and equipment. Amortization expense was $0.3 million and $0.7 million for the three and nine months ended September 30, 2018, respectively. Accumulated amortization was $0.9 million as of September 30, 2018. There was no amortization expense for the three and nine months ended September 30, 2017. The Company analyzes the net realizable value of capitalized software development costs on at least an annual basis and has determined that there is no indication of impairment of the capitalized software development costs as forecasted future sales are adequate to support amortization costs.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Income Taxes</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">We account for income taxes in accordance with ASC 740-10, "Income Taxes."&#160; Under ASC 740-10, deferred tax assets and liabilities are recognized for the estimated future tax consequences of temporary differences and income tax credits.&#160; Deferred tax assets and liabilities are measured by applying enacted statutory tax rates that are applicable to the future years in which deferred tax assets or liabilities are expected to be settled or realized for differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities.&#160; Any change in tax rates on deferred tax assets and liabilities is recognized in net income in the period in which the tax rate change is enacted.&#160; We record a valuation allowance that reduces deferred tax assets when it is "more likely than not" that deferred tax assets will not be realized.&#160; We are required to establish a valuation allowance for deferred tax assets if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on available evidence, realization of deferred tax assets is dependent upon the generation of future taxable income.&#160; We considered projected future taxable income, tax planning strategies, and reversal of taxable temporary differences in making this assessment. As such, we have determined that a full valuation allowance is required as of September 30, 2018 and December 31, 2017.&#160;As a result of a full valuation allowance against our deferred tax assets, a deferred tax liability (hanging credit) related to goodwill remains on our condensed consolidated balance sheets at September 30, 2018 and December 31, 2017. Due to the tax reform enacted on December 22, 2017, net operating losses generated in taxable years beginning after December 31, 2017 will have an indefinite carryforward period, which will be available to offset future taxable income created by the reversal of temporary taxable differences related to goodwill. As a result, we have adjusted the valuation allowance on our deferred tax assets and liabilities at September 30, 2018 and December 31, 2017.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">We follow the provisions of ASC 740-10 related to accounting for uncertainty in income taxes. The accounting estimates related to liabilities for uncertain tax positions require us to make judgments regarding the sustainability of each uncertain tax position based on its technical merits. If we determine it is more likely than not that a tax position will be sustained based on its technical merits, we record the impact of the position in our consolidated financial statements at the largest amount that is greater than fifty percent likely of being realized upon ultimate settlement. These estimates are updated at each reporting date based on the facts, circumstances and information available. We are also required to assess at each reporting date whether it is reasonably possible that any significant increases or decreases to our unrecognized tax benefits will occur during the next 12 months.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The provision for income taxes in interim periods is computed by applying the estimated annual effective tax rate against earnings before income tax expense for the period. In addition, non-recurring or discrete items are recorded during the period in which they occur.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Goodwill</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">We evaluate the impairment of goodwill and other intangible assets in accordance with ASC 350, "Intangibles - Goodwill and Other," which requires goodwill and indefinite-lived intangible assets to be assessed on at least an annual basis for impairment using a fair value basis. Between annual evaluations, if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount, then impairment must be evaluated. Such circumstances could include, but are not limited to: (1) a significant adverse change in legal factors or business climate, or (2) a loss of key contracts or customers.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">As the result of an acquisition, we record any excess purchase price over the net tangible and identifiable intangible assets acquired as goodwill. An allocation of the purchase price to tangible and intangible net assets acquired is based upon our valuation of the acquired assets. Goodwill is not amortized, but is subject to annual impairment tests. We complete our goodwill impairment tests as of December 31st each year. Additionally, we make evaluations between annual tests if events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The evaluation is based on the estimation of the fair values of our three reporting units, CO&amp;D, Identity Management, and IT and Enterprise Solutions, of which goodwill is housed in the CO&amp;D reporting unit, in comparison to the reporting unit's net asset carrying values. Our discounted cash flows required management judgment with respect to forecasted revenue streams and operating margins, capital expenditures and the selection and use of an appropriate discount rate. We utilized the weighted average cost of capital as derived by certain assumptions specific to our facts and circumstances as the discount rate. The net assets attributable to the reporting units are determined based upon the estimated assets and liabilities attributable to the reporting units in deriving its free cash flows. In addition, the estimate of the total fair value of our reporting units is compared to the market capitalization of the Company. The Company's assessment resulted in a fair value that was greater than the Company's carrying value, therefore the second step of the impairment test, as prescribed by the authoritative literature, was not required to be performed and no impairment of goodwill was recorded as of&#160; December 31, 2017. There were no triggering events which would require goodwill impairment consideration during the quarter. Subsequent reviews may result in future periodic impairments that could have a material adverse effect on the results of operations in the period recognized. Certain negative potential events, such as a material loss or losses on contracts, or failure to achieve projected growth could result in impairment in the future. We estimate fair value of our reporting unit and compare the valuation with the respective carrying value for the reporting unit to determine whether any goodwill impairment exists. If we determine through the impairment review process that goodwill is impaired, we will record an impairment charge in our consolidated statements of operations. Goodwill is amortized and deducted over a 15-year period for tax purposes.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Stock-Based Compensation</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">Compensation cost is recognized based on the requirements of ASC 718, "Stock Compensation," for all share-based awards granted. Since June 2008, we have issued restricted stock (Class A common) to our executive officers, directors and employees. To date, there have been no grants in 2018. In May 2017, we granted 5,005,000 shares of restricted stock to our executive officers and employees. Such stock is subject to a vesting schedule as follows:&#160; 25% of the restricted stock vests immediately on the date of grant, thereafter, an additional 25% will vest annually on the anniversary of the date of grant subject to continued employment or services. As of September 30, 2018, there were 2,457,500 shares of restricted stock that remained subject to vesting. In the event of death of the employee or a change in control, as defined by the Telos Corporation 2008 Omnibus Long-Term Incentive Plan, the 2013 Omnibus Long-Term Incentive Plan, or the 2016 Omnibus Long-Term Incentive Plan, all unvested shares shall automatically vest in full. In accordance with ASC 718, we recorded immaterial compensation expense for any of the issuances as the value of our common stock was nominal, based on the deduction of our outstanding debt, capital lease obligations, and preferred stock from an estimated enterprise value, which was estimated based on discounted cash flow analysis, comparable public company analysis, and comparable transaction analysis.&#160; Additionally, we determined that a significant change in the valuation estimate for common stock would not have a significant effect on the condensed consolidated financial statements.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Other Comprehensive Income</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Our functional currency is the U.S. Dollar. For one of our wholly owned subsidiaries, the functional currency is the local currency. For this subsidiary, the translation of its foreign currency into U.S. Dollars is performed for assets and liabilities using current foreign currency exchange rates in effect at the balance sheet date and for revenue and expense accounts using average foreign currency exchange rates during the period. Translation gains and losses are included in stockholders' deficit as a component of accumulated other comprehensive income.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">Accumulated other comprehensive income included within stockholders' deficit consists of the following (in thousands):</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">September 30, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">December 31, 2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Cumulative foreign currency translation loss</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(84</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(75</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: top; padding-bottom: 1px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Cumulative actuarial gain on pension liability adjustment</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">107</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">107</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: top; padding-bottom: 3px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Accumulated other comprehensive income</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">23</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">32</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><div><br /></div></div> 7000 6000 -9000 -2000 0 0 0 0 7000 -2000 0 0 0 0 0 6000 0 0 0 0 0 0 -9000 0 6000 -9000 7000 -2000 -216000 2000 961000 1011000 1439000 2330000 872000 883000 1990000 1909000 290000 2071000 1000 7000 3000 10000 2112000 0 445000 1513000 1111000 1319000 1138000 2573000 10 1.20 0.60 736863 0.12 0.060 0.01 2112000 6000000 2858723 2500000 9439000 0 2500000 -1966000 -8102000 3520000 4828000 0 0 0 0 0 0 -9532000 4113000 715000 1430000 0 0 0 -3044000 1078000 0 0 2040000 1480000 0 P2Y 16344000 17024000 24520000 26262000 24520000 42200000 134400000 41200000 131600000 420000 392000 106000 77000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Note 9</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Related Party Transactions</font></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Emmett J. Wood, the brother of our Chairman and CEO, has been an employee of the Company since 1996. </font>The amounts paid to this individual as compensation were $106,000 and $392,000 for the three and nine months ended September 30, 2018, respectively, and $77,000 and $420,000 for the three and nine months ended September 30, 2017, respectively.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;"> Additionally, </font>as of September 30, 2018 and December 31, 2017, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Mr. Wood owned 810,000 shares </font>of the Company's Class A Common Stock <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">and 50,000 shares of the Company's Class B Common Stock.</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 1.45pt; text-indent: 18pt;">On March 31, 2015, the Company entered into the Porter Notes.&#160;Mr. Porter and Toxford Corporation, of which Mr. Porter is the sole shareholder, own 35.0% of our Class A Common Stock.&#160;Under the terms of the Porter Notes, Porter lent the Company $2.5 million on or about March 31, 2015. According to the terms of the Porter Notes, the outstanding principal sum bears interest at the fixed rate of twelve percent (12%) per annum which would be payable in arrears in cash on the 20th day of each May, August, November and February, with the first interest payment date due on August 20, 2015.&#160;The Porter Notes do not call for amortization payments and are unsecured. The Porter Notes, in whole or in part, may be repaid at any time without premium or penalty. The unpaid principal, together with interest, was originally due and payable in full on July 1, 2017.&#160;</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">On April 18, 2017, we amended and restated the Porter Notes to reduce the interest rate from twelve percent (12%) to six percent (6%) per annum, to be accrued, and extends the maturity date from July 1, 2017 to July 25, 2022. Telos also entered into the Intercreditor Agreements with Porter and EnCap, in which the Porter Notes are fully subordinated to the Credit Agreement and any subsequent senior lenders (including Action Capital), and payments under the Porter Notes are permitted only if certain conditions are met. All other terms remain in full force and effect. We incurred interest expense in the amount of $78,000 and $229,000 for the three and nine months ended September 30, 2018, respectively, and $99,000 and $218,000 for the three and nine months ended September 30, 2017, respectively, on the Porter Notes. As a result of the amendment and restatement of the Porter Notes, we recorded a gain on extinguishment of debt of approximately $1 million, which consisted of the remeasurement of the debt at fair value. As the extinguishment was with a related party, the transaction was deemed to be a capital transaction and the gain was recorded in the Company's stockholders' deficit as of December 31, 2017.</div><div><br /></div></div> 680000 750000 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left; margin-right: 86.75pt;">Software Development Costs</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Software development costs for software to be sold, leased or otherwise marketed are expensed as incurred until technological feasibility is reached, at which time additional costs are capitalized until the product is available for general release to customers. Technological feasibility is established when all planning, designing, coding and testing activities have been completed, and all risks have been identified.&#160; Beginning with the second quarter of 2017, software development costs are capitalized and amortized over the estimated product life of 2 years on a straight-line basis. As of September 30, 2018, we capitalized $2.8 million of software development costs, which are included as a part of property and equipment. Amortization expense was $0.3 million and $0.7 million for the three and nine months ended September 30, 2018, respectively. Accumulated amortization was $0.9 million as of September 30, 2018. There was no amortization expense for the three and nine months ended September 30, 2017. The Company analyzes the net realizable value of capitalized software development costs on at least an annual basis and has determined that there is no indication of impairment of the capitalized software development costs as forecasted future sales are adequate to support amortization costs.</div><div><br /></div></div> -135449000 -141370000 72450000 9094000 102039000 2628000 91739000 57246000 28243000 32067000 15204000 34695000 10300000 19149000 59782000 4410000 7466000 68040000 5202000 74249000 12260000 24314000 15530000 32784000 26358000 6685000 4404000 1885000 1593000 1911000 95354000 21154000 2336000 9137000 91100000 0.4180 0.5640 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Revenue Recognition</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">We account for revenue in accordance with ASC Topic 606, "Revenue from Contracts with Customers." The unit of account in ASC 606 is a performance obligation, which is a promise, in a contract with a customer, to transfer a good or service to the customer. ASC 606 prescribes a five-step model for recognizing revenue that includes identifying the contract with the customer, determining the performance obligation(s), determining the transaction price, allocating the transaction price to the performance obligation(s), and recognizing revenue as the performance obligations are satisfied. Timing of the satisfaction of performance obligations varies across our businesses due to our diverse product and service mix, customer base, and contractual terms. Significant judgment can be required in determining certain performance obligations, and these determinations could change the amount of revenue and profit recorded in a given period.&#160; Our contracts may have a single performance obligation or multiple performance obligations. When there are multiple performance obligations within a contract, we allocate the transaction price to each performance obligation based on our best estimate of standalone selling price.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">We account for a contract after it has been approved by the parties to the contract, the rights and the payment terms of the parties are identified, the contract has commercial substance and collectability is probable, which is presumed for our U.S. Government customers and prime contractors for which we perform as subcontractors to U.S. Government end-customers.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The majority of our revenue is recognized over time, as control is transferred continuously to our customers who receive and consume benefits as we perform, and is classified as services revenue.&#160; All of our business groups earn services revenue under a variety of contract types, including time and materials, firm-fixed price, firm fixed price level of effort, and cost plus fixed fee contract types, which may include variable consideration as discussed further below. Revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, material, subcontractor costs and indirect expenses. This continuous transfer of control to the customer is supported by clauses in our contracts with U.S. Government customers whereby the customer may terminate a contract for convenience and then pay for costs incurred plus a profit, at which time the customer would take control of any work in process. For non-U.S. Government contracts where we perform as a subcontractor and our order includes similar Federal Acquisition Regulation (the FAR) provisions as the prime contractor's order from the U.S. Government, continuous transfer of control is likewise supported by such provisions. For other non-U.S. Government customers, continuous transfer of control to such customers is also supported due to general terms in our contracts and rights to recover damages which would include, among other potential damages, the right to payment for our work performed to date plus a reasonable profit.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Due to the transfer of control over time, revenue is recognized based on progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the performance obligations. We generally use the cost-to-cost measure of progress on a proportional performance basis for our contracts because it best depicts the transfer of control to the customer which occurs as we incur costs on our contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. Due to the nature of the work required to be performed on certain of our performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment.&#160; Contract estimates are based on various assumptions including labor and subcontractor costs, materials and other direct costs and the complexity of the work to be performed. A significant change in one or more of these estimates could affect the profitability of our contracts. We review and update our contract-related estimates regularly and recognize adjustments in estimated profit on contracts on a cumulative catch-up basis, which may result in an adjustment increasing or decreasing revenue to date on a contract in a particular period that the adjustment is identified. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Revenue that is recognized at a point in time is for the sale of software licenses in our Cyber Operations and Defense ("CO&amp;D") and IT &amp; Enterprise Solutions business groups and for the sale of resold products in Telos ID and CO&amp;D and is classified as product revenue.&#160; Revenue on these contracts is recognized when the customer obtains control of the transferred product or service, which is generally upon delivery of the product to the customer for their use, due to us maintaining control of the product until that point. Orders for the sale of software licenses may contain multiple performance obligations, such as maintenance, training, or consulting services, which are typically delivered over time, consistent with the transfer of control disclosed above for the provision of services. When an order contains multiple performance obligations, we allocate the transaction price to the performance obligations using our best estimate of standalone selling price.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Contracts are routinely and often modified to account for changes in contract requirements, specifications, quantities, or price.&#160; Depending on the nature of the modification, we determine whether to account for the modification as an adjustment to the existing contract or as a new contract.&#160; Generally, modifications are not distinct from the existing contract due to the significant interrelatedness of the performance obligations and are therefore accounted for as an adjustment to the existing contract, and recognized as a cumulative adjustment to revenue (as either an increase or reduction of revenue) based on the modification's effect on progress toward completion of a performance obligation.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Our contracts may include various types of variable consideration, such as claims (for instance indirect rate or other equitable adjustments) or incentive fees. We include estimated amounts in the transaction price based on all of the information available to us, including historical information and future estimations, and to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when any uncertainty associated with the variable consideration is resolved. We have revised and re-submitted several years of incurred cost submissions reflecting certain indirect rate structure changes as a result of regular DCAA audits of incurred cost submissions. This resulted in signed final rate agreement letters for 2011 to 2013 and conformed incurred cost submissions for 2014 to 2015. We evaluated the resulting changes to revenue under the applicable cost plus fixed fee contracts for the years 2011 to 2015 as variable consideration, and determined the most likely amount to which we expect to be entitled, to the extent that no constraint exists that would preclude recognizing this revenue or result in a significant reversal of cumulative revenue recognized. We have included these estimated amounts of variable consideration in the transaction price and as performance on these contracts is complete, we have recognized revenue of $5.6 million in the current period.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Historically, most of our contracts do not include award or incentive fees. For incentive fees, we would include such fees in the transaction price to the extent we could reasonably estimate the amount of the fee.&#160; With limited historical experience, we have not included any revenue related to incentive fees in our estimated transaction prices.&#160; We may include in our contract estimates additional revenue for submitted contract modifications or claims against the customer when we believe we have an enforceable right to the modification or claim, the amount can be estimated reliably and its realization is probable. We consider the contractual/legal basis for the claim (in particular FAR provisions), the facts and circumstances around any additional costs incurred, the reasonableness of those costs and the objective evidence available to support such claims.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">For our contracts that have an original duration of one year or less, we use the practical expedient applicable to such contracts and do not consider the time value of money. We capitalize sales commissions related to proprietary software and related services that are directly tied to sales. We do not elect the practical expedient to expense as incurred the incremental costs of obtaining a contract if the amortization period would have been one year or less. For the sales commissions that are capitalized, we amortize the asset over the expected customer life, which is based on recent and historical data.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 4.5pt; text-indent: 18pt;">Contract assets&#160;are amounts that are invoiced as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals or upon achievement of contractual milestones. Generally, revenue recognition occurs before billing, resulting in contract assets. These contract assets are referred to as unbilled receivables and are reported within accounts receivable, net of reserve on our condensed consolidated balance sheet.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 4.5pt; text-indent: 18pt;">Billed receivables are amounts billed and due from our customers that are classified as billed receivables and are reported within accounts receivable, net of reserve on the condensed consolidated balance sheet. The portion of the payments retained by the customer until final contract settlement is not considered a significant financing component due to the intent of the retainage being the customer's protection with respect to full and final performance under the contract.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 4.5pt; text-indent: 18pt;">Contract liabilities&#160;are payments received in advance and milestone payments from our customers on selected contracts that exceed revenue earned to date, resulting in contract liabilities. Contract liabilities typically are not considered a significant financing component because they are typically satisfied within one year and are used to meet working capital demands that can be higher in the early stages of a contract. Contract liabilities are reported on our condensed consolidated balance sheet on a net contract basis at the end of each reporting period.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">We have one reportable segment. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">We treat sales to U.S. customers as sales within the U.S. regardless of where the services are performed. Substantially all of our revenues are from U.S. customers as international customers revenue is de minimus. The following tables disclose revenue (in thousands) by customer type and contract type for the periods presented.&#160; Prior period amounts have not been adjusted under the modified retrospective method.</font></div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Three Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Nine Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">Federal</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">32,784</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">26,358</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">95,354</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">68,040</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 1px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">State &amp; Local, and Commercial</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,911</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,885</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">6,685</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4,410</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 3px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">&#160;&#160;&#160;&#160;&#160;&#160;Total</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">34,695</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">28,243</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">102,039</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">72,450</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Three Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Nine Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top;">&#160;</td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Firm fixed-price</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">21,154</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">24,314</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">74,249</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">59,782</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">Time-and-materials</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4,404</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">2,336</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">12,260</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">7,466</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 1px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">Cost plus fixed fee</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">9,137</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,593</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">15,530</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">5,202</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 3px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt; text-indent: -0.6pt;">&#160;&#160;&#160;&#160;&#160;&#160;Total</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">34,695</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">28,243</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">102,039</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">72,450</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The following table discloses contract receivables (in thousands):</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">September 30, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">January 1, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center; text-indent: 3pt;">December 31, 2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Billed accounts receivable</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,485</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,736</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,736</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Unbilled receivables</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">16,077</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">13,195</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">13,195</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; padding-bottom: 1px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Allowance for doubtful accounts</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(300</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(411</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(411</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; padding-bottom: 3px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Receivables &#8211; net</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">26,262</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">24,520</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">24,520</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The following table discloses contract liabilities (in thousands):</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">September 30, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">January 1, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center; text-indent: 3pt;">December 31, 2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 64%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 0.6pt;">Contract liabilities</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4,464</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,073</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,073</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">As of September 30, 2018, we had $91.1 million of remaining performance obligations, which we also refer to as funded backlog. We expect to recognize approximately 41.8% of our remaining performance obligations as revenue in 2018, an additional 56.4% by 2020 and the balance thereafter.</div><div><br /></div></div> P1Y P3M 0.5 0.6 0.5 0.99999 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">Accumulated other comprehensive income included within stockholders' deficit consists of the following (in thousands):</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">September 30, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">December 31, 2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Cumulative foreign currency translation loss</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(84</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(75</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: top; padding-bottom: 1px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Cumulative actuarial gain on pension liability adjustment</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">107</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">107</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: top; padding-bottom: 3px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Accumulated other comprehensive income</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">23</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">32</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td></tr></table><div style="clear: both;"><br /></div><div><br /></div></div> <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">The carrying amount of the Credit Agreement consisted of the following (in thousands):</div><div><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">September 30, 2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">December 31, 2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: bottom; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Senior term loan, including exit fee</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,825</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,825</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Less:&#160; Unamortized discount, debt issuance costs, and lender fees</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(894</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(1,039</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="width: 76%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Senior term loan, net</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,931</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10,786</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #cceeff;">&#160;</td></tr></table><div style="clear: both;"><br /></div></div> <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Segment Reporting</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker ("CODM"), or decision making group, in deciding how to allocate resources and assess performance. We currently operate in one operating and reportable business segment for financial reporting purposes.&#160; Our Chief Executive Officer is the CODM. The CODM only evaluates profitability based on consolidated results.</div><div><br /></div></div> 27684000 30027000 9851000 9296000 5005000 2457500 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left;">Stock-Based Compensation</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;">Compensation cost is recognized based on the requirements of ASC 718, "Stock Compensation," for all share-based awards granted. Since June 2008, we have issued restricted stock (Class A common) to our executive officers, directors and employees. To date, there have been no grants in 2018. In May 2017, we granted 5,005,000 shares of restricted stock to our executive officers and employees. Such stock is subject to a vesting schedule as follows:&#160; 25% of the restricted stock vests immediately on the date of grant, thereafter, an additional 25% will vest annually on the anniversary of the date of grant subject to continued employment or services. As of September 30, 2018, there were 2,457,500 shares of restricted stock that remained subject to vesting. In the event of death of the employee or a change in control, as defined by the Telos Corporation 2008 Omnibus Long-Term Incentive Plan, the 2013 Omnibus Long-Term Incentive Plan, or the 2016 Omnibus Long-Term Incentive Plan, all unvested shares shall automatically vest in full. In accordance with ASC 718, we recorded immaterial compensation expense for any of the issuances as the value of our common stock was nominal, based on the deduction of our outstanding debt, capital lease obligations, and preferred stock from an estimated enterprise value, which was estimated based on discounted cash flow analysis, comparable public company analysis, and comparable transaction analysis.&#160; Additionally, we determined that a significant change in the valuation estimate for common stock would not have a significant effect on the condensed consolidated financial statements.</div><div><br /></div></div> -129783000 -136037000 -129976000 -134376000 78000 78000 4310000 3229000 -139562000 25000 25000 -135537000 773000 2229000 4283000 26000 -137403000 -142025000 235000 78000 -141370000 78000 32000 913000 4310000 78000 4310000 -135449000 23000 1255000 -139563000 4310000 32000 -145069000 1086000 78000 -136950000 -131038000 2518000 2289000 0.01 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: left; margin-right: 86.75pt;">Accounts Receivable</div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">Accounts receivable are stated at the invoiced amount, less allowances for doubtful accounts. Collectability of accounts receivable is regularly reviewed based upon management's knowledge of the specific circumstances related to overdue balances. The allowance for doubtful accounts is adjusted based on such evaluation. Accounts receivable balances are written off against the allowance when management deems the balances uncollectible.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">On July 15, 2016, the Company entered into an accounts receivable purchase agreement under which the Company sells certain accounts receivable to a third party, or the "Factor", without recourse to the Company. The Factor initially pays the Company 90% of U.S. Federal government receivables or 85% of certain commercial prime contractors. The remaining payment is deferred and based on the amount the Factor receives from our customer, less a discount fee and a program access fee that is determined by the amount of time the receivable is outstanding before payment. The structure of the transaction provides for a true sale of the receivables transferred. Accordingly, upon transfer of the receivable to the Factor, the receivable is removed from the Company's condensed consolidated balance sheet, a loss on the sale is recorded and the residual amount remains a deferred payment as an accounts receivable until payment is received from the Factor. The balance of the sold receivables may not exceed&#160;$10 million. During the three and nine months ended September 30, 2018, the Company sold approximately&#160;$6.0 million and $11.1 million of receivables, respectively, and recognized a related loss of approximately $21,000 and&#160;$39,000 in selling, general and administrative expenses, respectively, for the same period. During the three and nine months ended September 30, 2017, the Company sold approximately&#160;$13.9 million and $22.1 million of receivables, respectively, and recognized a related loss of approximately&#160;$49,000 and $78,000 in selling, general and administrative expenses, respectively, for the same period. As of&#160;September 30, 2018, the balance of the sold receivables was approximately $2.9 million, and the related deferred price was approximately $0.4 million. As of December 31, 2017, there were no outstanding sold receivables.</div><div><br /></div></div> 266000 289000 677000 700000 1100000 0.020 0.100 0.115 P30D 0.025 374000 50000 810000 50000 -4100000 4000000 0.127 0.174 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">The following table details the changes in non-controlling interest for the three and nine months ended September 30, 2018 and 2017 (in thousands):</font></div><div style="text-align: left; text-indent: 18pt;"><br /></div><table align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Three Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="6" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">Nine Months Ended September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="vertical-align: top; padding-bottom: 1px;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2018</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px;">&#160;</td><td colspan="2" valign="bottom" style="vertical-align: top; border-bottom: #000000 1px solid;"><div></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center;">2017</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: left;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Non-controlling interest, beginning of period</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">773</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">235</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">913</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">2,229</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #cceeff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Net income</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">715</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,078</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,480</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,430</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; text-align: left; background-color: #ffffff;">&#160;</td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 1px; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Distributions</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(233</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(227</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(1,138</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: left; background-color: #cceeff;">&#160;</td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 1px solid; text-align: right; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(2,573</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 1px; text-align: left; background-color: #cceeff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="width: 52%; vertical-align: top; padding-bottom: 3px; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">Non-controlling interest, end of period</div></td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,255</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,086</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,255</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; background-color: #ffffff;">&#160;</td><td valign="bottom" style="width: 1%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: left; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</div></td><td valign="bottom" style="width: 9%; vertical-align: bottom; border-bottom: #000000 3px double; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,086</div></td><td nowrap="nowrap" valign="bottom" style="width: 1%; vertical-align: bottom; padding-bottom: 3px; text-align: left; background-color: #ffffff;">&#160;</td></tr></table><div style="clear: both;"><br /></div></div> 0.51 0.5 17000 5000000 6000000 0.5 0.5 2 5 2 3 0.1 0.39999 134432000 131565000 0.25 0.25 P15Y 0.9 0.85 11100000 13900000 22100000 6000000 49000 21000 39000 78000 400000 2900000 0 10000000 -2887000 -2867000 1561000 0 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Note 6</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; background-color: #ffffff;">Redeemable Preferred Stock</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">A maximum of 6,000,000 shares of the Public Preferred Stock, par value $.01 per share, has been authorized for issuance. We initially issued 2,858,723 shares of the Public Preferred Stock pursuant to the acquisition of the Company during fiscal year 1990. The Public Preferred Stock was recorded at fair value on the date of original issue, November 21, 1989, and we made periodic accretions under the interest method of the excess of the redemption value over the recorded value. We adjusted our estimate of accrued accretion in the amount of $1.5 million in the second quarter of 2006. The Public Preferred Stock was fully accreted as of December 2008. We declared stock dividends totaling 736,863 shares in 1990 and 1991. Since 1991, no other dividends, in stock or cash, have been declared. In November 1998, we retired 410,000 shares of the Public Preferred Stock. The total number of shares issued and outstanding at September 30, 2018 and December 31, 2017 was 3,185,586. </font>The Public Preferred Stock is quoted as "TLSRP" on the OTCQB marketplace and the OTC Bulletin Board.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">&#160;</font>Since 1991, no dividends were declared or paid on our Public Preferred Stock, based upon our interpretation of restrictions in our Articles of Amendment and Restatement, limitations in the terms of the Public Preferred Stock instrument, specific dividend payment restrictions in the Credit Agreement and the Porter Notes to which the Public Preferred Stock is subject, other senior obligations currently or previously in existence, and Maryland law limitations in existence prior to October 1, 2009. Subsequent to the 2009 Maryland law change, dividend payments continue to be prohibited except under certain specific circumstances as set forth in Maryland Code Section 2-311, which the Company did not satisfy as of the measurement dates. Pursuant to the terms of the Articles of Amendment and Restatement, we were scheduled, but not required, to redeem the Public Preferred Stock in five annual tranches during the period 2005 through 2009. However, due to our substantial senior obligations currently or previously in existence, limitations set forth in the covenants in the Credit Agreement and the Porter Notes, foreseeable capital and operational requirements, and restrictions and prohibitions of our Articles of Amendment and Restatement, we were and remain unable to meet the redemption schedule set forth in the terms of the Public Preferred Stock as of the measurement dates. Moreover, the Public Preferred Stock is not payable on demand, nor callable, for failure to redeem the Public Preferred Stock in accordance with the redemption schedule set forth in the instrument. Therefore, we classify these securities as noncurrent liabilities in the condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; text-indent: 18pt;">On January 25, 2017, we became parties with certain of our subsidiaries to the Credit Agreement with EnCap. Under the Credit Agreement, we agreed that, until full and final payment of the obligations under the Credit Agreement, we would not make any distribution or declare or pay any dividends (other than common stock) on our stock, or purchase, acquire, or redeem any stock, or exchange any stock for indebtedness, or retire any stock. Additionally, the Porter Notes contain similar prohibitions on dividend payments or stock redemptions.</div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">Accordingly, as stated above, we will continue to classify the entirety of our obligation to redeem the Public Preferred Stock as a long-term obligation. The Credit Agreement and the </font>Porter Notes <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">prohibit, among other things, the redemption of any stock, common or preferred, other than as described above. The Public Preferred Stock by its terms also cannot be redeemed if doing so would violate the terms of an agreement regarding the borrowing of funds or the extension of credit which is binding upon us or any of our subsidiaries, and it does not include any other provisions that would otherwise require any acceleration of the redemption of or amortization payments with respect to the Public Preferred Stock. Thus, the Public Preferred Stock is not and will not be due on demand, nor callable, within 12 months from September 30, 2018.&#160; This classification is consistent with ASC 210-10, "Balance Sheet" and 470-10, "Debt" and the FASB ASC Master Glossary definition of "Current Liabilities."</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">ASC 210-10 and the FASB ASC Master Glossary define current liabilities as follows: The term current liabilities is used principally to designate obligations whose liquidation is reasonably expected to require the use of existing resources properly classifiable as current assets, or the creation of other current liabilities. As a balance sheet category, the classification is intended to include obligations for items which have entered into the operating cycle, such as payables incurred in the acquisition of materials and supplies to be used in the production of goods or in providing services to be offered for sale; collections received in advance of the delivery of goods or performance of services; and debts that arise from operations directly related to the operating cycle, such as accruals for wages, salaries, commissions, rentals, royalties, and income and other taxes. Other liabilities whose regular and ordinary liquidation is expected to occur within a relatively short period of time, usually twelve months, are also intended for inclusion, such as short-term debts arising from the acquisition of capital assets, serial maturities of long-term obligations, amounts required to be expended within one year under sinking fund provisions, and agency obligations arising from the collection or acceptance of cash or other assets for the account of third persons.</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">ASC 470-10 provides the following: The current liability classification is also intended to include obligations that, by their terms, are due on demand or will be due on demand within one year (or operating cycle, if longer) from the balance sheet date, even though liquidation may not be expected within that period.&#160; It is also intended to include long-term obligations that are or will be callable by the creditor either because the debtor's violation of a provision of the debt agreement at the balance sheet date makes the obligation callable or because the violation, if not cured within a specified grace period, will make the obligation callable.</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">If, pursuant to the terms of the Public Preferred Stock, we do not redeem the Public Preferred Stock in accordance with the scheduled redemptions described above, the terms of the Public Preferred Stock require us to discharge our obligation to redeem the Public Preferred Stock as soon as we are financially capable and legally permitted to do so. Therefore, by its very terms, the Public Preferred Stock is not due on demand or callable for failure to make a scheduled payment pursuant to its redemption provisions and is properly classified as a noncurrent liability.</font></div><div><br /></div><div style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left; margin-right: 18pt; text-indent: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; background-color: #ffffff;">We pay dividends on the Public Preferred Stock when and if declared by the Board of Directors. The Public Preferred Stock accrues a semi-annual dividend at the annual rate of 12% ($1.20) per share, based on the liquidation preference of $10 per share and is fully cumulative. Dividends in additional shares of the Public Preferred Stock for 1990 and 1991 were paid at the rate of 6% of a share for each $.60 of such dividends not paid in cash. For the cash dividends payable since December 1, 1995, we have accrued $102.6 million and $99.7 million as of September 30, 2018 and December 31, 2017, respectively. We accrued dividends on the Public Preferred Stock of $1.0 million and $2.9 million for each of the three and nine months ended September 30, 2018 and 2017, respectively, which was recorded as interest expense. Prior to the effective date of ASC 480-10 on July 1, 2003, such dividends were charged to stockholders' accumulated deficit.</font></div><div><br /></div></div> 3185586 0.350 1500000 410000 P12M 5 0.0030 10000000 0.85 0.9 0.0050 P2Y 0.0062 5000000 0.9 0.00008 0.0056 0.01 0.15 0.1 P12M 1031000 0 1031000 0 0 0 0 27000 27000 0 0 0 EX-101.SCH 6 tlsrp-20180930.xsd XBRL TAXONOMY EXTENSION SCHEMA 000100 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 010000 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) link:presentationLink link:calculationLink link:definitionLink 020000 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) link:presentationLink link:calculationLink link:definitionLink 030000 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) link:presentationLink link:calculationLink link:definitionLink 030100 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 040000 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) link:presentationLink link:calculationLink link:definitionLink 050000 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT (Unaudited) link:presentationLink link:calculationLink link:definitionLink 060100 - Disclosure - General and Basis of Presentation link:presentationLink link:calculationLink link:definitionLink 060200 - Disclosure - Non-controlling Interests link:presentationLink link:calculationLink link:definitionLink 060300 - Disclosure - Goodwill link:presentationLink link:calculationLink link:definitionLink 060400 - Disclosure - Fair Value Measurements link:presentationLink link:calculationLink link:definitionLink 060500 - Disclosure - Current Liabilities and Debt Obligations link:presentationLink link:calculationLink link:definitionLink 060600 - Disclosure - Redeemable Preferred Stock link:presentationLink link:calculationLink link:definitionLink 060700 - Disclosure - Income Taxes link:presentationLink link:calculationLink link:definitionLink 060800 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 060900 - Disclosure - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 070100 - Disclosure - General and Basis of Presentation (Policies) link:presentationLink link:calculationLink link:definitionLink 080100 - Disclosure - General and Basis of Presentation (Tables) link:presentationLink link:calculationLink link:definitionLink 080200 - Disclosure - Non-controlling Interests (Tables) link:presentationLink link:calculationLink link:definitionLink 080501 - Disclosure - Current Liabilities and Debt Obligations (Tables) link:presentationLink link:calculationLink link:definitionLink 090100 - Disclosure - General and Basis of Presentation (Details) link:presentationLink link:calculationLink link:definitionLink 090100 - Disclosure - General and Basis of Presentation (Details)Default link:presentationLink link:calculationLink link:definitionLink 090200 - Disclosure - Non-controlling Interests (Details) link:presentationLink link:calculationLink link:definitionLink 090300 - Disclosure - Goodwill (Details) link:presentationLink link:calculationLink link:definitionLink 090400 - Disclosure - Fair Value Measurements (Details) link:presentationLink link:calculationLink link:definitionLink 090500 - Disclosure - Current Liabilities and Debt Obligations, Enlightenment Capital Credit Agreement (Details) link:presentationLink link:calculationLink link:definitionLink 090502 - Disclosure - Current Liabilities and Debt Obligations, Accounts Receivable Purchase Agreement & Financing and Security Agreement (Details) link:presentationLink link:calculationLink link:definitionLink 090504 - Disclosure - Current Liabilities and Debt Obligations, Subordinated Debt (Details) link:presentationLink link:calculationLink link:definitionLink 090600 - Disclosure - Redeemable Preferred Stock (Details) link:presentationLink link:calculationLink link:definitionLink 090700 - Disclosure - Income Taxes (Details) link:presentationLink link:calculationLink link:definitionLink 090800 - Disclosure - Commitments and Contingencies (Details) link:presentationLink link:calculationLink link:definitionLink 090900 - Disclosure - Related Party Transactions (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 7 tlsrp-20180930_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 8 tlsrp-20180930_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 9 tlsrp-20180930_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Amendment Flag Current Fiscal Year End Date Document Period End Date Entities [Table] Entity [Domain] Entity Information [Line Items] Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Current Reporting Status Entity Filer Category Entity Public Float Entity Registrant Name Entity Central Index Key Entity Common Stock, Shares Outstanding Document Fiscal Year Focus Document Fiscal Period Focus Legal Entity [Axis] Legal Entity [Axis] Document Type Entity Shell Company Entity Emerging Growth Company Entity Ex Transition Period Entity Small Business Warrants expiration date Award Type [Axis] ASC 606 [Member] Accounts payable and other accrued payables (Note 5) Billed accounts receivable Accounts Payable and Other Accrued Payables [Abstract] Accounts Receivable [Abstract] Accounts Receivable, Net, Current [Abstract] Trade account payables Components of Accounts Receivable [Abstract] Legal Entity of Counterparty, Type [Axis] Accrued trade payables Accrued Liabilities, Current Property and equipment, accumulated depreciation Cumulative actuarial gain on pension liability adjustment Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax Cumulative foreign currency translation loss Accumulated Other Comprehensive Income [Member] Accumulated other comprehensive income Accumulated other comprehensive income Accumulated Other Comprehensive Income (Loss), Net of Tax Accumulated Other Comprehensive Income [Abstract] Additional paid-in capital Additional Paid in Capital, Common Stock Additional Paid-In Capital [Member] Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: Adjustments for New Accounting Pronouncements [Axis] Stock-based compensation Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition Accounts receivable, reserve Allowance for doubtful accounts Amortization of debt issuance costs Amortization of intangible assets Amortization of Intangible Assets Asset impairment charges Asset Impairment Charges ASSETS Assets [Abstract] Total assets Assets Total current assets Assets, Current Current assets Current assets Porter [Member] Beneficial Owner [Member] Capital lease obligations Capital Lease Obligations, Noncurrent Capital lease obligations - short-term Amortization expense Capitalized software development costs Capitalized Computer Software, Net Accumulated amortization Capitalized Computer Software, Accumulated Amortization Carrying (Reported) Amount, Fair Value Disclosure [Member] Decrease in cash and cash equivalents Cash and Cash Equivalents, Period Increase (Decrease) Cash and cash equivalents Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period Noncash: Warrants issued to purchase shares of common stock (in shares) Class of Stock [Line Items] Class of Stock [Domain] Warrants exercise price (in dollars per share) Commitments and Contingencies Commitments and Contingencies Disclosure [Text Block] Commitments and Contingencies [Abstract] Commitments and contingencies (Note 8) Commitments and Contingencies Class A Common Stock [Member] Class A Common Stock [Member] Common Stock [Member] Class B Common Stock [Member] Class B Common Stock [Member] Common stock par value (in dollars per share) Common stock Less: Comprehensive income attributable to non-controlling interest Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest Comprehensive income (loss) attributable to Telos Corporation Comprehensive Income (Loss), Net of Tax, Attributable to Parent CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) [Abstract] Other Comprehensive Income Contract with Customer, Basis of Pricing [Domain] Contract with Customer, Basis of Pricing [Axis] Contract with Customer, Liability [Abstract] Contract liabilities Contract with Customer, Liability Revenue accruals for multiple contracts as a result of cumulative indirect rate adjustments Unbilled receivables Contract liabilities Contract liabilities (Note 1 and 5) Contract Assets and Liabilities Total costs and expenses Costs and expenses Credit Facility [Axis] Credit Facility [Domain] Cumulative effect adjustment due to change in accounting policy Disaggregation of Revenue [Line Items] Disaggregation of Revenue [Table] Disaggregation of Revenue [Abstract] Disaggregation of Revenue Disaggregation of Revenue [Table Text Block] Current Liabilities and Debt Obligations [Abstract] Increase in interest rate Debt Instrument, Interest Rate, Increase (Decrease) Debt instrument, first interest payment due date Debt instrument, first interest payment due date Less: Unamortized discount, debt issuance costs, and lender fees Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net Percentage added to reference rate to compute the variable rate Schedule of Long-term Debt Instruments [Table] Credit agreement exit fee Debt Instrument, Fee Amount Senior term loan principal, including exit fee Long-term Debt, Gross Current Liabilities and Debt Obligations Debt Disclosure [Text Block] Debt Instrument [Line Items] Accrual rate Effective interest rate Debt instrument, last principal and interest payment date Maturity date Accrued compensation and benefits Deferred income tax provision Deferred income taxes (Note 7) Deferred Tax Liabilities, Net, Noncurrent Depreciation and amortization Dividends on preferred stock Dividends, Preferred Stock Dividends Payable U.S. federal corporate tax rate Equity Component [Domain] Estimate of Fair Value, Fair Value Disclosure [Member] Fair Value Measurements [Abstract] Fair Value, by Balance Sheet Grouping, Disclosure Item Amounts [Axis] Fair Value Measurements Fair Value Disclosures [Text Block] Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] Fair Value, by Balance Sheet Grouping [Table] Fair Value, Disclosure Item Amounts [Domain] Estimated useful life of intangible assets Estimated useful lives customer relationship Finite-Lived Intangible Asset, Useful Life Firm Fixed-Price [Member] Recognized gain on sale of membership interests to the Investors Possible gain contingency amount Gain on extinguishment of subordinated debt Gain (Loss) on Extinguishment of Debt Goodwill (Note 3) Goodwill Goodwill Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] Goodwill Goodwill Disclosure [Text Block] Goodwill [Abstract] Goodwill [Abstract] Federal [Member] Income Taxes [Abstract] Income (loss) before income taxes Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) [Abstract] Benefit (provision) for income taxes (Note 7) Income tax provision Income Tax Expense (Benefit) Income Taxes Income Tax Disclosure [Text Block] Income Taxes Income Tax, Policy [Policy Text Block] Income taxes Decrease in book overdrafts Changes in other operating assets and liabilities Increase (Decrease) in Other Operating Assets and Liabilities, Net Increase (Decrease) in Stockholders' Equity [Roll Forward] Increase (Decrease) in Stockholders' Equity [Roll Forward] Interest expense, related party Interest expense Interest Expense Interest expense Interest Expense, Debt Interest Inventories [Abstract] Inventories, obsolescence reserve Inventory valuation reserves Gross inventory Inventories, net of obsolescence reserve of $916 and $1,484, respectively (Note 1) Inventories Long-term Debt, Type [Domain] Long-term Debt, Type [Axis] Legal Entity Type of Counterparty [Domain] LIABILITIES, REDEEMABLE PREFERRED STOCK, AND STOCKHOLDERS' DEFICIT Liabilities and Equity [Abstract] Total liabilities Liabilities Total liabilities, redeemable preferred stock, and stockholders' deficit Liabilities and Equity Current liabilities Total current liabilities Liabilities, Current Outstanding borrowing of credit facility Senior term loan Long-term Line of Credit Litigation settlement amount awarded Senior term loan, net of unamortized discount and issuance costs (Note 5) Senior term loan, net Long-term Debt Long-term Debt [Abstract] Debt instrument, fixed interest rate Debt instrument, fixed interest rate Legal proceedings [Abstract] Loss Contingency [Abstract] Loss Contingency Nature [Axis] Loss Contingency, Nature [Domain] Possible loss for advance or indemnification of legal fees and expenses Non-controlling interest, end of period Non-controlling interest, beginning of period Non-controlling interest in subsidiary (Note 2) Distributions Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders Non-controlling Interests Noncontrolling Interest Disclosure [Text Block] Noncontrolling Interest [Table] Noncontrolling Interest [Line Items] Related party ownership percentage Noncontrolling Interest, Ownership Percentage by Parent Owned membership interest from private equity investors Changes in non-controlling interest [Abstract] Financing activities: Cash (used in) provided by financing activities Net Cash Provided by (Used in) Financing Activities Cash used in investing activities Net Cash Provided by (Used in) Investing Activities Investing activities: Operating activities: Less: Net income attributable to non-controlling interest (Note 2) Net income Net Income (Loss) Attributable to Noncontrolling Interest Cash provided by (used in) operating activities Net Cash Provided by (Used in) Operating Activities Net income (loss) attributable to Telos Corporation Net Income (Loss) Attributable to Parent Recent Accounting Pronouncements Other income (expense) Number of reporting units Number of reportable segments Noncontrolling Interest [Member] Non-controlling Interests [Abstract] Operating income (loss) Operating Income (Loss) General and Basis of Presentation Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] General and Basis of Presentation [Abstract] Foreign currency translation adjustments Foreign currency translation gain (loss) Total other comprehensive (loss) income, net of tax Other Comprehensive Income (Loss), Net of Tax Other noncash items Other Noncash Income (Expense) Other assets Other current assets Other comprehensive (loss) income : Other liabilities (Note 7) Other current liabilities Deferred program expenses Other income Prime Rate [Member] Prime Rate [Member] Redemption of senior preferred stock Payments for Repurchase of Redeemable Preferred Stock Purchases of property and equipment Payments to Acquire Property, Plant, and Equipment Capitalized software development costs Payments to Develop Software Distributions to Telos ID Class B member - non-controlling interest Payments to Noncontrolling Interests Portion at Fair Value Measurement [Member] Preferred stock, liquidation preference (in dollars per share) Preferred Stock, Liquidation Preference Per Share Preferred stock dividend rate per annum (in dollars per share) Preferred Stock, Dividend Rate, Per-Dollar-Amount Number of shares declared as dividend (in shares) Preferred stock dividend rate per annum Preferred stock dividend rate per annum Preferred stock par value (in dollar per share) Preferred Stock, Par or Stated Value Per Share Preferred stock [Abstract] Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] Aggregate redemption price Preferred Stock, Redemption Amount Preferred Units, Class [Domain] Senior redeemable preferred stock maturity date Preferred stock authorized (in shares) Preferred Stock, Shares Authorized Preferred stock issued (in shares) Preferred Units by Name [Axis] Proceeds from related party, debt Proceeds from senior term loan Proceeds from related party, debt Proceeds from Related Party Debt Proceeds from senior credit facilities Product [Member] Net income (loss) Net income (loss) Net (loss) income Software development estimated useful life Software Development Costs [Abstract] Property and equipment, net of accumulated depreciation of $27,906 and $25,841, respectively Accounts receivable, net of reserve of $300 and $411, respectively (Note 1) Receivables - net Public preferred stock Redeemable Noncontrolling Interest, Equity, Fair Value Senior Redeemable Preferred Stock [Member] Related Party Transactions [Abstract] Related Party Transaction [Line Items] Compensation to related parties Related Party [Domain] Related Party [Axis] Related Party Transactions, by Related Party [Axis] Related Party Transactions Related Party Transactions Disclosure [Text Block] Repayments of term loan Repayments of Bank Debt Repayments of senior credit facilities Repayments of Lines of Credit Payments under capital lease obligations Repayments of Long-term Capital Lease Obligations Software Development Costs Restricted Stock Grants [Member] Accumulated deficit Retained Earnings (Accumulated Deficit) Accumulated Deficit [Member] Revenue Revenue from Contract with Customer, Excluding Assessed Tax Revenue from Contract with Customer [Abstract] Remaining performance obligation Remaining performance obligation percentage Revenue, Remaining Performance Obligation, Percentage Revenue Recognition Remaining performance obligation, expected timing of satisfaction, period Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table] Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis] Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] Revenue, Performance Obligation [Abstract] Revenue Revolving Credit [Member] Revolving Credit Facility [Member] Percentage of ownership interest owned after transaction Percentage of membership interest owned before Accumulated Other Comprehensive Income Carrying Amount of the Credit Agreement Schedule of Related Party Transactions, by Related Party [Table] Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table] Segment Reporting Segment Reporting [Abstract] Selling, general and administrative expenses Service [Member] Restricted stock issued during the period (in shares) Share-based Compensation Arrangement by Share-based Payment Award [Line Items] Restricted stock remained subject to vesting (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number Stock-Based Compensation Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] Equity Award [Domain] CONDENSED CONSOLIDATED BALANCE SHEETS [Abstract] Class of Stock [Axis] Statement [Line Items] Statement [Table] CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) [Abstract] Statement, Equity Components [Axis] CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT [Abstract] Total stockholders' deficit Beginning balance Ending balance Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Stockholders' deficit Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] Total Telos stockholders' deficit Stockholders' Equity Attributable to Parent Telos stockholders' deficit Stockholders' Equity Attributable to Parent [Abstract] Subordinated debt (Note 5) Subordinated debt - short-term (Note 6) Subordinated Debt [Abstract] Subsequent Event Type [Domain] Subsequent Event Type [Axis] Subsequent Events [Member] Subsequent Event [Member] Supplemental disclosures of cash flow information: Redeemable Preferred Stock [Abstract] Public preferred stock par value (in dollar per share) Class of Stock [Table] Time-and-Materials [Member] Title of Individual with Relationship to Entity [Domain] Deferred Compensation Arrangement with Individual, Share-based Payments, by Title of Individual [Axis] Accounts Receivable Type of Adoption [Domain] Interest and penalties Unrecognized tax benefits Variable Rate [Axis] Variable Rate [Domain] Litigation Case [Axis] Litigation Case [Domain] Customer [Axis] Maximum [Member] Minimum [Member] Customer [Domain] Ownership [Domain] Ownership [Axis] Product and Service [Domain] Product and Service [Axis] Range [Domain] Range [Axis] Loan from a bank for a specific amount that has a specified repayment schedule and a floating interest rate. Term loan [Member] Term Loan [Member] A person serving as an employee since 1996 and relative (brother) of Chairman and CEO. Emmett Wood [Member] Emmett J. Wood [Member] Any person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has shares of the entity with 1) voting power which includes the power to vote, or to direct the voting of, such security, and/or 2) investment power which includes the power to dispose, or to direct the disposition of, such security. Enlightenment Capital Solutions Fund II LP [Member] Enlightenment Capital Solutions Fund, II L.P. [Member] Enlightenment Capital Credit Agreement [Abstract] Enlightenment Capital Credit Agreement [Abstract] The cash inflow associated with the proceeds on the Loan as a prepayment of all interest due and payable at the accrual rate during the period. Proceeds From Loan Prepayment Proceeds from loan prepayment Refers to the debt instrument increase in interest rate in event of default under the debt agreement. Debt Instrument Increase In Interest Rate Increase in interest rate In Event Of Default Increase in interest rate in event of default Refers to the debt instrument monthly accrued interest rate under the debt agreement. Debt Instrument Monthly Accrued Interest Rate Monthly accrued interest rate Refers to debt instrument monthly accrued interest rate during continuance of alternate interest rate event. Debt Instrument Monthly Accrued Interest Rate During Continuance Of Alternate Interest Rate Event Monthly accrued interest rate during continuance of an Alternate Interest Rate Event Refers to number of days prior written notice the organization may prepay any portion or the entire amount of the Loan, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Number Of Days Prior Written Notice Number of days prior written notice Refers to percentage of warrants issued of common equity interests of the entity on a fully diluted basis. Percentage Of Warrants Issued Of Common Equity Interests Percentage of warrants issued of common equity interests Amount of debt incurred fee and issuance costs related to the issuance of the credit agreement. Debt Instrument Transaction Costs Credit agreement transaction costs Refers to credit agreement. Credit Agreement [Member] Credit Agreement [Member] Total number of share held by related party. Number of shares held by related party Number of shares held by related party (in shares) Financial condition and liquidity [Abstract] Financial Condition and Liquidity [Abstract] A measure of both a entity's efficiency and its short-term financial health. Working capital Working capital Summarization of Legal Proceedings. Legal Proceedings [Table] Refers to the plaintiff in the case against the Company. Wynnefield [Member] Refers to the plaintiff in the case against the Company. Costa Brava [Member] Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Legal Proceedings [Line Items] Legal Proceedings [Line Items] Percentage of public preferred stock held Public preferred stock ownership percentage Percentage of public preferred stock owned Number of filed counts against counter defendants. Number of filed counterclaim counts Number of filed counterclaim counts Number of filed counts against counter defendants related to interference with the Company's contracts or business relationships. Number of counts related to interference with the Company's contracts or business relationships Number of filed counts against counter defendants seeking declaratory relief on counter defendants' claim of entitlement to indemnification. Number of counts seeking declaratory relief Number of counts seeking declaratory relief Refers to the plaintiff in the case against the Company. Hamot [Member] This tabular disclosure represents changes in non-controlling interest. Changes in non controlling interest [Table Text Block] Changes in Non-Controlling Interest Percentage of the outstanding voting securities transferred upon a change in control. Percentage of outstanding voting securities Percentage of ownership interests which are transferred to persons or individuals without the consent of Telos ID. Percentage of ownership interests Class B Membership Unit. Class B Membership Unit [Member] Class A membership unit. Class A Membership Unit [Member] Class A Membership Unit [Member] Sum of the carrying amounts of net book value of assets on particular date. Net Book Value Of Assets Contributed Net book value of assets contributed Refers to cash consideration received on sale of membership interest. Cash Consideration Received On Sale Of Membership Interest Cash consideration received on sale of membership interest Percentage of profit and loss allocated. Percentage of profit and loss allocated Percentage of profit and loss allocated Classes of membership units. Number of classes of membership units Total number of members in board of director team. Number of members in board of director Number of members in board of director Another company which is controlled, directly or indirectly, by its parent. The usual condition for control is ownership of a majority (over 50%) of the outstanding voting stock. The power to control may also exist with a lesser percentage of ownership, for example, by contract, lease, agreement with other stockholders or by court decree. Telos ID [Member] Telos ID [Member] Total number of directors entitled to appoint during the reporting period. Number Of Directors Entitled To Appoint Number of directors entitled to appoint Total percentage of membership interest sold to investor. Percentage Of Membership Interest Sold To Investor Percentage of membership interest sold to investor Net Book Value Of Assets [Abstract] Net book value of assets [Abstract] Refers to private equity investors with membership interests of Telos ID. Investors [Member] Redeemable preferred stock classified as a noncurrent liability rather than temporary equity. Senior redeemable preferred stock Senior redeemable preferred stock (Note 6) Preferred stock classified as a noncurrent liability rather than as equity. Public preferred stock Public preferred stock (Note 6) Redeemable preferred stock classified as a current liability rather than temporary equity. Senior redeemable preferred stock - short-term (Note 7) Senior redeemable preferred stock - short-term (Note 6) Restricted Stock Grants [Abstract] Maximum percentage of restricted stock vested on date of grant. Percentage restricted stock vested on date of grant Restricted stock vested on date of grant Executive officers are ranking officers of the entity who have been appointed to the position by the board of directors. Employees are those who have been appointed to their respective positions by the management of the entity. Executive officers and employees [Member] Executive Officers and Employees [Member] Maximum percentage of restricted stock vest on anniversary of the date of grant. Percentage of restricted stock vest on anniversary of the date of grant Restricted stock vest on anniversary of the date of grant Refers to the term of forecasted equal annual customer orders to determine amortization. Term of forecasted equal annual customer orders Represents the period of goodwill amortization which is used for tax purposes. Goodwill Amortization Period Goodwill amortization period for income tax purposes Percentage out of sold receivables initially paid by the factor related to U.S. Federal government receivables. Percentage of Initially Payment Received from Factoring One Percentage of initial payment by factor of U.S. Federal government receivables Percentage out of sold receivables initially paid by the factor related to certain commercial prime contractors. Percentage of Initially Payment Received from Factoring Two Percentage of initial payment by factor of commercial prime contractors Refers to the amount of accounts receivables sold under purchase agreement. Receivables Sold under Factoring Agreement Sold receivables during the period Refers to the loss recognized in sold receivables recorded in selling, general and administrative expense. Loss Recognized in Sold Receivables Loss recognized in selling, general and administrative expenses Refers to deferred price of the purchase agreement for the receivable sold. Deferred Price Related to Sold Receivables Deferred price related to sold receivables Refers to the balance amount after the execution of sold receivables agreement. Amount of Remaining Sold Receivables Balance of sold receivables Refers to the maximum limit amount of sold receivables. Maximum Limit of Receivables Sold Maximum limit of sold receivables Legal entity that is the governing authority of a state or local community as well as a legal entity in the form of a corporation created to conduct business. State & Local, and Commercial [Member] Contract with customer in which amount of consideration is based on cost plus fixed fee. Cost Plus Fixed Fee [Member] Preferred stock dividends charged to interest expense during the reporting period. Dividends Preferred Stock As Interest Expense Dividends of preferred stock as interest expense Cash paid during the period for: [Abstract] Cash paid during the period for: Amount of asset related to consideration paid in advance for interest and debt issuance costs that provide economic benefits within a future period of senior term loan of one year or the normal operating cycle, if longer. Debt issuance costs and prepayment of interest on senior term loan The entire disclosure for redeemable preferred stock describing the type of equity share that is liable to be bought back by the issuing company on a specified date or after a specified period of notice. Corporate legislation in some jurisdictions prohibits the redemption if it jeopardizes the financial health of the issuer the type of equity share that is liable to be bought back by the issuing company on a specified date or after a specified period of notice. Corporate legislation in some jurisdictions prohibits the redemption if it jeopardizes the financial health of the issuer. Redeemable Preferred Stock [Text Block] Redeemable Preferred Stock Description of type or class of redeemable preferred stock. For instance, cumulative preferred stock, noncumulative preferred stock, convertible or series. Twelve Percent Cumulative Exchangeable Redeemable Preferred Stock [Member] Public Preferred Stock [Member] The number of securities classified as long term liabilities that have been sold (or granted) to the entity's shareholders. Preferred Stock Liability Shares Issued And Outstanding Preferred stock issued and outstanding (in shares) Senior Redeemable Preferred Stock [Abstract] Percentage of redeemable preferred stock held by related party after redemption. Percentage Of Redeemable Preferred Stock Held By Related Party After Redemption Percentage of redeemable preferred stock held by related party after redemption Percentage of shares owned Refers to per share liquidation preference (or restrictions) of redeemable preferred stock that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. Redeemable Preferred Stock Liquidation Value Redeemable preferred stock liquidation value (in dollar per share) Accrued dividends on the senior and public redeemable preferred stock reported as interest expenses. Accrued Dividends Reported As Interest Expenses Accrued dividends reported as interest expenses Aggregate amount of undeclared unpaid dividends. Undeclared Unpaid Dividends Undeclared unpaid dividends Related parties include affiliates; other entities for which investments are accounted for by the equity method by the entity; trusts for benefit of employees; and principal owners, management, and members of immediate families. It also may include other parties with which the entity may control or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. Related Party Two [Member] Toxford [Member] Cumulative Exchangeable Redeemable Preferred Stock [Abstract] 12% Cumulative Exchangeable Redeemable Preferred Stock [Abstract] The amount of accretion of the preferred stock being adjusted during the period. Public Preferred Stock Accretion Of Redemption Discount Adjusted accrued accretion of public preferred stock Total number of redeemable public preferred share redeemed during the period. Number Of Redeemable Preferred Stock Redeemed Redemption of public preferred stock (in shares) Refers to period during which redeemable preferred stock not callable, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Period During Which Redeemable Preferred Stock Not Callable Period during which redeemable preferred stock not callable Number of annual tranches to redeem the public preferred stock. Number Of Annual Tranches During Period2005 Through2009 Number of annual tranches during the period The aggregate amount to be paid by the entity upon redemption of the security that is classified as long term liabilities. Senior Redeemable Preferred Stock Liability Redemption Value Redemption amount of senior redeemable preferred stock Related Party Transactions Compensation [Abstract] Related party transactions compensation [Abstract] Number of redeemable preferred stock redeemed by related party. Number Of Senior Redeemable Preferred Stock Redeemed By Company Outstanding shares redeemed (in shares) Description of type or class of redeemable preferred stock. For instance, cumulative preferred stock, noncumulative preferred stock, convertible or series. Series A-1 Redeemable Preferred Stock [Member] Description of type or class of redeemable preferred stock. For instance, cumulative preferred stock, noncumulative preferred stock, convertible or series. Series A-2 Redeemable Preferred Stock [Member] Fair Value, Balance Sheet Grouping, Financial Statement Captions [Abstract] Fair Value, Balance Sheet Grouping, Financial Statement Captions [Abstract] Document and Entity Information [Abstract] Any person or group of persons or a combination of person and entity collectively, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has shares of the entity with 1) voting power which includes the power to vote, or to direct the voting of, such security, and/or 2) Investment power which includes the power to dispose, or to direct the disposition of, such security. Porter [Member] Porter [Member] Refers to the account debtor is an agency of U.S government. US Government Agency [Member] Refers to financing and security agreement. Financing and Security Agreement [Member] Refers to an agreement to purchase accounts receivables. Accounts Receivable Purchase Agreement [Member] Refers to percentage of discount factor for federal government prime contracts. Percentage of Discount Factor for Federal Government Prime Contracts Percentage of discount factor for federal government prime contracts Refers to total amount of purchased receivables subject to a limit of outstanding purchased receivables. Purchased Receivables Limit of outstanding purchased receivables Refers to percentage of initial purchase price of purchased receivable on the face value of receivable. Percentage of Initial Purchase Price of Purchased Receivable Percentage of initial purchase price of purchased receivable Refers to percentage of monthly fee. Percentage of Monthly Fee Percentage of monthly fee Refers to term of financing agreement, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Term of Financing Agreement Financing agreement term Refers to percentage of discount factor for non-federal government non-investment grade account obligors. Percentage of Discount Factor for Non Federal Government Non Investment Grade Account Obligors Percentage of discount factor for non-federal government non-investment grade account obligors Refers to outstanding principal amount of advances under financing agreement. Outstanding Principal Amount of Advances Maximum outstanding principal amount of advances Refers to percentage of advances of the net amount of certain acceptable customer accounts. Percentage of Advances Percentage of advances Refers to percentage of program access fee of the daily ending account balance for each day that purchased receivable are outstanding. Percentage of Program Access Fee Percentage of program access fee Refers to percentage of discount factor for non-federal government investment grade account obligors. Percentage of Discount Factor for Non Federal Government Investment Grade Account Obligors Percentage of discount factor for non-federal government investment grade account obligors Refers to percentage of commitment fee per annum of maximum amount minus the amount of purchased receivables outstanding. Percentage of Commitment Fee Percentage of commitment fee Refers to cash inflow from purchase agreement during the period. Proceeds from Purchase Agreement Proceeds from purchase agreement Refers to initial enrollment fee for purchase agreement. Initial Enrollment Fee Initial enrollment fee Accounts Receivable Purchase Agreement [Abstract] Accounts Receivable Purchase Agreement [Abstract] Refers to residual percentage of purchased receivable. Residual Percentage of Purchased Receivable Residual percentage of purchased receivable Refers to automatic renewal term if agreement not terminated in writing, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Automatic Renewal Term Automatic renewal term Financing and Security Agreement [Abstract] Name of the entity involved in financing and security agreement. Action Capital Corporation [Member] Name of the entity involved in accounts receivable purchase agreement. Republic Capital Access LLC [Member] Gain on extinguishment of debt which consisted of the remeasurement of debt at fair value. Gain on extinguishment of subordinated debt Gain on extinguishment of subordinated debt EX-101.PRE 10 tlsrp-20180930_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 11 R1.htm IDEA: XBRL DOCUMENT v3.10.0.1
Document and Entity Information - shares
 9 Months Ended
Sep. 30, 2018
Nov. 07, 2018
Entity Information [Line Items]    
Entity Registrant Name TELOS CORP  
Entity Central Index Key 0000320121  
Current Fiscal Year End Date --12-31  
Entity Filer Category Non-accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Ex Transition Period false  
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Sep. 30, 2018  
Document Fiscal Year Focus 2018  
Document Fiscal Period Focus Q3  
Class A Common Stock [Member]    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   45,168,461
Class B Common Stock [Member]    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   4,037,628
XML 12 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenue        
Revenue $ 34,695 $ 28,243 $ 102,039 $ 72,450
Costs and expenses        
Total costs and expenses 18,408 18,981 63,442 47,353
Selling, general and administrative expenses 9,851 9,296 30,027 27,684
Operating income (loss) 6,436 (34) 8,570 (2,587)
Other income (expense)        
Other income 3 1 10 7
Interest expense (1,717) (1,722) (5,101) (4,993)
Income (loss) before income taxes 4,722 (1,755) 3,479 (7,573)
Benefit (provision) for income taxes (Note 7) 106 (211) 41 (529)
Net income (loss) 4,828 (1,966) 3,520 (8,102)
Less: Net income attributable to non-controlling interest (Note 2) (715) (1,078) (1,480) (1,430)
Net income (loss) attributable to Telos Corporation 4,113 (3,044) 2,040 (9,532)
Service [Member]        
Revenue        
Revenue 32,067 19,149 91,739 57,246
Costs and expenses        
Total costs and expenses 17,143 12,206 59,119 37,219
Product [Member]        
Revenue        
Revenue 2,628 9,094 10,300 15,204
Costs and expenses        
Total costs and expenses $ 1,265 $ 6,775 $ 4,323 $ 10,134
XML 13 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) [Abstract]        
Net income (loss) $ 4,828 $ (1,966) $ 3,520 $ (8,102)
Other comprehensive (loss) income :        
Foreign currency translation adjustments (2) 6 (9) 7
Total other comprehensive (loss) income, net of tax (2) 6 (9) 7
Less: Comprehensive income attributable to non-controlling interest (715) (1,078) (1,480) (1,430)
Comprehensive income (loss) attributable to Telos Corporation $ 4,111 $ (3,038) $ 2,031 $ (9,525)
XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 415 $ 600
Accounts receivable, net of reserve of $300 and $411, respectively (Note 1) 26,262 24,520
Inventories, net of obsolescence reserve of $916 and $1,484, respectively (Note 1) 8,776 13,520
Deferred program expenses 290 2,071
Other current assets 2,330 1,439
Total current assets 38,073 42,150
Property and equipment, net of accumulated depreciation of $27,906 and $25,841, respectively 17,024 16,344
Goodwill (Note 3) 14,916 14,916
Other assets 961 1,011
Total assets 70,974 74,421
Current liabilities    
Accounts payable and other accrued payables (Note 5) 19,885 25,693
Accrued compensation and benefits 6,713 7,456
Contract liabilities (Note 1 and 5) 4,464 10,073
Capital lease obligations - short-term 1,089 1,013
Other current liabilities 1,909 1,990
Total current liabilities 34,060 46,225
Senior term loan, net of unamortized discount and issuance costs (Note 5) 10,931 10,786
Subordinated debt (Note 5) 2,518 2,289
Capital lease obligations 17,154 17,980
Deferred income taxes (Note 7) 779 741
Public preferred stock (Note 6) 134,432 131,565
Other liabilities (Note 7) 883 872
Total liabilities 200,757 210,458
Commitments and contingencies (Note 8)
Telos stockholders' deficit    
Common stock 78 78
Additional paid-in capital 4,310 4,310
Accumulated other comprehensive income 23 32
Accumulated deficit (135,449) (141,370)
Total Telos stockholders' deficit (131,038) (136,950)
Non-controlling interest in subsidiary (Note 2) 1,255 913
Total stockholders' deficit (129,783) (136,037)
Total liabilities, redeemable preferred stock, and stockholders' deficit $ 70,974 $ 74,421
XML 15 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current assets    
Accounts receivable, reserve $ 300 $ 411
Inventories, obsolescence reserve 916 1,484
Property and equipment, accumulated depreciation $ 27,906 $ 25,841
XML 16 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities:    
Net income (loss) $ 3,520 $ (8,102)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Dividends of preferred stock as interest expense 2,867 2,887
Depreciation and amortization 2,148 1,414
Amortization of debt issuance costs 145 115
Deferred income tax provision 38 189
Other noncash items 216 (2)
Changes in other operating assets and liabilities (4,399) 575
Cash provided by (used in) operating activities 4,535 (2,924)
Investing activities:    
Capitalized software development costs (1,319) (1,111)
Purchases of property and equipment (1,513) (445)
Cash used in investing activities (2,832) (1,556)
Financing activities:    
Proceeds from senior term loan 0 9,439
Redemption of senior preferred stock 0 (2,112)
Payments under capital lease obligations (750) (680)
Distributions to Telos ID Class B member - non-controlling interest (1,138) (2,573)
Cash (used in) provided by financing activities (1,888) 4,074
Decrease in cash and cash equivalents (185) (406)
Cash and cash equivalents, beginning of period 600 659
Cash and cash equivalents, end of period 415 253
Cash paid during the period for:    
Interest 1,860 1,773
Income taxes 19 25
Noncash:    
Dividends of preferred stock as interest expense 2,867 2,887
Debt issuance costs and prepayment of interest on senior term loan 0 1,561
Gain on extinguishment of subordinated debt $ 0 $ 1,031
XML 17 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT (Unaudited) - USD ($)
$ in Thousands
Common Stock [Member]
Additional Paid-In Capital [Member]
Accumulated Other Comprehensive Income [Member]
Accumulated Deficit [Member]
Noncontrolling Interest [Member]
Total
Beginning balance at Dec. 31, 2016 $ 78 $ 3,229 $ 25 $ (135,537) $ 2,229 $ (129,976)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net (loss) income 0 0 0 (9,532) 1,430 (8,102)
Foreign currency translation gain (loss) 0 0 7 0 0 7
Gain on extinguishment of subordinated debt 0 1,031 0 0 0 1,031
Stock-based compensation 0 50 0 0 0 50
Distributions 0 0 0 0 (2,573) (2,573)
Ending balance at Sep. 30, 2017 78 4,310 32 (145,069) 1,086 (139,563)
Beginning balance at Jun. 30, 2017 78 4,283 26 (142,025) 235 (137,403)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net (loss) income 0 0 0 (3,044) 1,078 (1,966)
Foreign currency translation gain (loss) 0 0 6 0 0 6
Gain on extinguishment of subordinated debt 0 27 0 0 0 27
Distributions 0 0 0 0 (227) (227)
Ending balance at Sep. 30, 2017 78 4,310 32 (145,069) 1,086 (139,563)
Beginning balance at Dec. 31, 2017 78 4,310 32 (141,370) 913 (136,037)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net (loss) income 0 0 0 2,040 1,480 3,520
Foreign currency translation gain (loss) 0 0 (9) 0 0 (9)
Distributions 0 0 0 0 (1,138) (1,138)
Ending balance at Sep. 30, 2018 78 4,310 23 (135,449) 1,255 (129,783)
Beginning balance at Jun. 30, 2018 78 4,310 25 (139,562) 773 (134,376)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net (loss) income 0 0 0 4,113 715 4,828
Foreign currency translation gain (loss) 0 0 (2) 0 0 (2)
Distributions 0 0 0 0 (233) (233)
Ending balance at Sep. 30, 2018 78 4,310 23 (135,449) 1,255 (129,783)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Cumulative effect adjustment due to change in accounting policy $ 0 $ 0 $ 0 $ 3,881 $ 0 $ 3,881
XML 18 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
General and Basis of Presentation
 9 Months Ended
Sep. 30, 2018
General and Basis of Presentation [Abstract]  
General and Basis of Presentation
Note 1.  General and Basis of Presentation
Telos Corporation, together with its subsidiaries (the "Company" or "Telos" or "We"), is an information technology solutions and services company addressing the needs of U.S. Government and commercial customers worldwide. Our principal offices are located at 19886 Ashburn Road, Ashburn, Virginia 20147. The Company was incorporated as a Maryland corporation in October 1971. Our website is www.telos.com.

The accompanying condensed consolidated financial statements include the accounts of Telos and its subsidiaries, including Ubiquity.com, Inc., Xacta Corporation, and Teloworks, Inc., all of whose issued and outstanding share capital is owned by the Company. We have also consolidated the results of operations of Telos Identity Management Solutions, LLC ("Telos ID") (see Note 2 – Non-controlling Interests). All intercompany transactions have been eliminated in consolidation.

In our opinion, the accompanying condensed consolidated financial statements reflect all adjustments (which include normal recurring adjustments) and reclassifications necessary for their fair presentation in conformity with accounting principles generally accepted in the United States of America ("GAAP") and pursuant to rules and regulations of the Securities and Exchange Commission ("SEC"). The presented interim results are not necessarily indicative of fiscal year performance for a variety of reasons including, but not limited to, the impact of seasonal and short-term variations. We have continued to follow the accounting policies (including the critical accounting policies) set forth in the consolidated financial statements included in our 2017 Annual Report on Form 10-K filed with the SEC. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017.

In preparing these condensed consolidated financial statements, we have evaluated subsequent events through the date that these condensed consolidated financial statements were issued.

Segment Reporting
Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker ("CODM"), or decision making group, in deciding how to allocate resources and assess performance. We currently operate in one operating and reportable business segment for financial reporting purposes.  Our Chief Executive Officer is the CODM. The CODM only evaluates profitability based on consolidated results.

Recent Accounting Pronouncements

Recent Accounting Pronouncements Adopted
In May 2014, the Financial Accounting Standards Board ("FASB")  issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers," which requires an entity to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. In July 2015, the FASB finalized the delay of the effective date by one year, making the new standard effective for interim periods and annual period beginning after December 15, 2017. In March 2016, the FASB issued ASU 2016-08, "Revenues from Contract with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)," which clarifies the implementation guidance in ASU 2014-09 relating to principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10, "Revenue from Contracts with Customers (Topic 606) - Identifying Performance Obligations and Licensing," which further clarifies the implementation guidance relating to identifying performance obligations and the licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, "Revenue from Contracts with Customers (Topic 606):  Narrow Scope Improvements and Practical Expedients," which clarifies the implementation guidance related to collectability, presentation of sales tax, noncash consideration, contract modifications and completed contracts at transition. These standards can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. We adopted the standard on January 1, 2018 using the modified retrospective method, and reflecting cumulative changes in accumulated deficit.

As a result of the adoption of the ASC 606 standard on January 1, 2018, we determined that certain contractual arrangements required adjustment in order to appropriately reflect revenue recognition under the new standard.  For contracts for term-based license subscriptions that were in process at January 1, 2018, it was determined that the license was a distinct performance obligation where transfer of control of the license to the customer had occurred. Accordingly, the amount of revenue allocated to those performance obligations was reflected in the cumulative adjustment to our accumulated deficit in accordance with our election of the modified retrospective transition method as prescribed by the new standard.  This adjustment included two contracts for an aggregate cumulative adjustment to decrease accumulated deficit of $3.9 million, which adjusted contract liabilities by the same amount. The remaining performance obligations under the contracts were adjusted to reflect the adjusted allocation of the transaction price to these performance obligations. Additionally, upon adoption of the new standard it was determined that certain contractual arrangements for the provision of resold information technology products that had previously been accounted for on a gross revenue basis under the prior standard would appropriately be recognized on a net revenue basis and reflected in services revenue.  There were no contracts of this type in process that were included in the accumulated deficit adjustment.

In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230): Classification of certain cash receipts and cash payments," which intends to reduce the diversity in practice in how certain transactions are classified on the statement of cash flows. This standard will be effective retrospectively for interim and annual reporting periods beginning after December 31, 2017, and early adoption is permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In November 2016, the FASB issued ASU 2016-18, "Statement of Cash Flows (Topic 230) – Restricted Cash," which requires the presentation of changes in restricted cash or restricted cash equivalents on the statement of cash flows. This standard will be effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting," which amends the scope of modification accounting for share-based payment arrangements, provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. This ASU is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

Recent Accounting Pronouncements Not Yet Adopted
In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)." The guidance in this update supersedes the requirements in Accounting Standards Codification ("ASC") Topic 840, Leases. The update will require business entities to recognize lease assets and liabilities on the balance sheet and to disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. This update will be effective for interim and annual periods beginning after December 15, 2018, and is to be applied on a modified retrospective basis. In July 2018, the FASB issued ASU 2018-11, "Leases (Topic 842): Targeted Improvements", which provides an alternative modified retrospective transition method. Under this new transition method, an entity initially applies this new lease standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retaining earnings in the period of adoption.  The effective date of the amendments in this ASU related to transition are the same as the effective date for ASU 2016-02. We are currently assessing the impact the adoption of this ASU will have on our condensed consolidated financial position, results of operations and cash flows.  We expect to recognize increases in reported amounts for property and equipment, and related lease liabilities upon the adoption of this standard, and are still evaluating the impact it will have on results of operations.

In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which introduces new guidance for estimating credit losses on certain types of financial instruments based on expected losses and the timing of the recognition of such losses. This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. While we are currently assessing the impact the adoption of this ASU will have on our condensed consolidated financial position, results of operations and cash flows, we do not believe the adoption of this ASU will have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which eliminates Step 2 of the current goodwill impairment test, which requires a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment loss will instead be measured at the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the recorded amount of goodwill. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted for any impairment test performed on testing dates after January 1, 2017. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement", which modifies the disclosure requirement for fair value measurement under ASC 820 to improve the effectiveness of such disclosures. Those modification include the removal and addition of disclosure requirement as well as clarifying specific disclosure requirements.  This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In August 2018, the FASB issued ASU No. 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract," which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software.  This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

Revenue Recognition
We account for revenue in accordance with ASC Topic 606, "Revenue from Contracts with Customers." The unit of account in ASC 606 is a performance obligation, which is a promise, in a contract with a customer, to transfer a good or service to the customer. ASC 606 prescribes a five-step model for recognizing revenue that includes identifying the contract with the customer, determining the performance obligation(s), determining the transaction price, allocating the transaction price to the performance obligation(s), and recognizing revenue as the performance obligations are satisfied. Timing of the satisfaction of performance obligations varies across our businesses due to our diverse product and service mix, customer base, and contractual terms. Significant judgment can be required in determining certain performance obligations, and these determinations could change the amount of revenue and profit recorded in a given period.  Our contracts may have a single performance obligation or multiple performance obligations. When there are multiple performance obligations within a contract, we allocate the transaction price to each performance obligation based on our best estimate of standalone selling price.

We account for a contract after it has been approved by the parties to the contract, the rights and the payment terms of the parties are identified, the contract has commercial substance and collectability is probable, which is presumed for our U.S. Government customers and prime contractors for which we perform as subcontractors to U.S. Government end-customers.

The majority of our revenue is recognized over time, as control is transferred continuously to our customers who receive and consume benefits as we perform, and is classified as services revenue.  All of our business groups earn services revenue under a variety of contract types, including time and materials, firm-fixed price, firm fixed price level of effort, and cost plus fixed fee contract types, which may include variable consideration as discussed further below. Revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, material, subcontractor costs and indirect expenses. This continuous transfer of control to the customer is supported by clauses in our contracts with U.S. Government customers whereby the customer may terminate a contract for convenience and then pay for costs incurred plus a profit, at which time the customer would take control of any work in process. For non-U.S. Government contracts where we perform as a subcontractor and our order includes similar Federal Acquisition Regulation (the FAR) provisions as the prime contractor's order from the U.S. Government, continuous transfer of control is likewise supported by such provisions. For other non-U.S. Government customers, continuous transfer of control to such customers is also supported due to general terms in our contracts and rights to recover damages which would include, among other potential damages, the right to payment for our work performed to date plus a reasonable profit.

Due to the transfer of control over time, revenue is recognized based on progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the performance obligations. We generally use the cost-to-cost measure of progress on a proportional performance basis for our contracts because it best depicts the transfer of control to the customer which occurs as we incur costs on our contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. Due to the nature of the work required to be performed on certain of our performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment.  Contract estimates are based on various assumptions including labor and subcontractor costs, materials and other direct costs and the complexity of the work to be performed. A significant change in one or more of these estimates could affect the profitability of our contracts. We review and update our contract-related estimates regularly and recognize adjustments in estimated profit on contracts on a cumulative catch-up basis, which may result in an adjustment increasing or decreasing revenue to date on a contract in a particular period that the adjustment is identified. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate.

Revenue that is recognized at a point in time is for the sale of software licenses in our Cyber Operations and Defense ("CO&D") and IT & Enterprise Solutions business groups and for the sale of resold products in Telos ID and CO&D and is classified as product revenue.  Revenue on these contracts is recognized when the customer obtains control of the transferred product or service, which is generally upon delivery of the product to the customer for their use, due to us maintaining control of the product until that point. Orders for the sale of software licenses may contain multiple performance obligations, such as maintenance, training, or consulting services, which are typically delivered over time, consistent with the transfer of control disclosed above for the provision of services. When an order contains multiple performance obligations, we allocate the transaction price to the performance obligations using our best estimate of standalone selling price.

Contracts are routinely and often modified to account for changes in contract requirements, specifications, quantities, or price.  Depending on the nature of the modification, we determine whether to account for the modification as an adjustment to the existing contract or as a new contract.  Generally, modifications are not distinct from the existing contract due to the significant interrelatedness of the performance obligations and are therefore accounted for as an adjustment to the existing contract, and recognized as a cumulative adjustment to revenue (as either an increase or reduction of revenue) based on the modification's effect on progress toward completion of a performance obligation.

Our contracts may include various types of variable consideration, such as claims (for instance indirect rate or other equitable adjustments) or incentive fees. We include estimated amounts in the transaction price based on all of the information available to us, including historical information and future estimations, and to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when any uncertainty associated with the variable consideration is resolved. We have revised and re-submitted several years of incurred cost submissions reflecting certain indirect rate structure changes as a result of regular DCAA audits of incurred cost submissions. This resulted in signed final rate agreement letters for 2011 to 2013 and conformed incurred cost submissions for 2014 to 2015. We evaluated the resulting changes to revenue under the applicable cost plus fixed fee contracts for the years 2011 to 2015 as variable consideration, and determined the most likely amount to which we expect to be entitled, to the extent that no constraint exists that would preclude recognizing this revenue or result in a significant reversal of cumulative revenue recognized. We have included these estimated amounts of variable consideration in the transaction price and as performance on these contracts is complete, we have recognized revenue of $5.6 million in the current period.

Historically, most of our contracts do not include award or incentive fees. For incentive fees, we would include such fees in the transaction price to the extent we could reasonably estimate the amount of the fee.  With limited historical experience, we have not included any revenue related to incentive fees in our estimated transaction prices.  We may include in our contract estimates additional revenue for submitted contract modifications or claims against the customer when we believe we have an enforceable right to the modification or claim, the amount can be estimated reliably and its realization is probable. We consider the contractual/legal basis for the claim (in particular FAR provisions), the facts and circumstances around any additional costs incurred, the reasonableness of those costs and the objective evidence available to support such claims.

For our contracts that have an original duration of one year or less, we use the practical expedient applicable to such contracts and do not consider the time value of money. We capitalize sales commissions related to proprietary software and related services that are directly tied to sales. We do not elect the practical expedient to expense as incurred the incremental costs of obtaining a contract if the amortization period would have been one year or less. For the sales commissions that are capitalized, we amortize the asset over the expected customer life, which is based on recent and historical data.

Contract assets are amounts that are invoiced as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals or upon achievement of contractual milestones. Generally, revenue recognition occurs before billing, resulting in contract assets. These contract assets are referred to as unbilled receivables and are reported within accounts receivable, net of reserve on our condensed consolidated balance sheet.

Billed receivables are amounts billed and due from our customers that are classified as billed receivables and are reported within accounts receivable, net of reserve on the condensed consolidated balance sheet. The portion of the payments retained by the customer until final contract settlement is not considered a significant financing component due to the intent of the retainage being the customer's protection with respect to full and final performance under the contract.

Contract liabilities are payments received in advance and milestone payments from our customers on selected contracts that exceed revenue earned to date, resulting in contract liabilities. Contract liabilities typically are not considered a significant financing component because they are typically satisfied within one year and are used to meet working capital demands that can be higher in the early stages of a contract. Contract liabilities are reported on our condensed consolidated balance sheet on a net contract basis at the end of each reporting period.

We have one reportable segment. We treat sales to U.S. customers as sales within the U.S. regardless of where the services are performed. Substantially all of our revenues are from U.S. customers as international customers revenue is de minimus. The following tables disclose revenue (in thousands) by customer type and contract type for the periods presented.  Prior period amounts have not been adjusted under the modified retrospective method.

  
Three Months Ended September 30,
  
Nine Months Ended September 30,
 
  
2018
  
2017
  
2018
  
2017
 
             
Federal
 
$
32,784
  
$
26,358
  
$
95,354
  
$
68,040
 
State & Local, and Commercial
  
1,911
   
1,885
   
6,685
   
4,410
 
      Total
 
$
34,695
  
$
28,243
  
$
102,039
  
$
72,450
 

  
Three Months Ended September 30,
  
Nine Months Ended September 30,
 
  
2018
  
2017
  
2018
  
2017
 
             
Firm fixed-price
 
$
21,154
  
$
24,314
  
$
74,249
  
$
59,782
 
Time-and-materials
  
4,404
   
2,336
   
12,260
   
7,466
 
Cost plus fixed fee
  
9,137
   
1,593
   
15,530
   
5,202
 
      Total
 
$
34,695
  
$
28,243
  
$
102,039
  
$
72,450
 

The following table discloses contract receivables (in thousands):

  
September 30, 2018
  
January 1, 2018
  
December 31, 2017
 
Billed accounts receivable
 
$
10,485
  
$
11,736
  
$
11,736
 
Unbilled receivables
  
16,077
   
13,195
   
13,195
 
Allowance for doubtful accounts
  
(300
)
  
(411
)
  
(411
)
Receivables – net
 
$
26,262
  
$
24,520
  
$
24,520
 

The following table discloses contract liabilities (in thousands):

  
September 30, 2018
  
January 1, 2018
  
December 31, 2017
 
Contract liabilities
 
$
4,464
  
$
10,073
  
$
10,073
 

As of September 30, 2018, we had $91.1 million of remaining performance obligations, which we also refer to as funded backlog. We expect to recognize approximately 41.8% of our remaining performance obligations as revenue in 2018, an additional 56.4% by 2020 and the balance thereafter.

Accounts Receivable
Accounts receivable are stated at the invoiced amount, less allowances for doubtful accounts. Collectability of accounts receivable is regularly reviewed based upon management's knowledge of the specific circumstances related to overdue balances. The allowance for doubtful accounts is adjusted based on such evaluation. Accounts receivable balances are written off against the allowance when management deems the balances uncollectible.

On July 15, 2016, the Company entered into an accounts receivable purchase agreement under which the Company sells certain accounts receivable to a third party, or the "Factor", without recourse to the Company. The Factor initially pays the Company 90% of U.S. Federal government receivables or 85% of certain commercial prime contractors. The remaining payment is deferred and based on the amount the Factor receives from our customer, less a discount fee and a program access fee that is determined by the amount of time the receivable is outstanding before payment. The structure of the transaction provides for a true sale of the receivables transferred. Accordingly, upon transfer of the receivable to the Factor, the receivable is removed from the Company's condensed consolidated balance sheet, a loss on the sale is recorded and the residual amount remains a deferred payment as an accounts receivable until payment is received from the Factor. The balance of the sold receivables may not exceed $10 million. During the three and nine months ended September 30, 2018, the Company sold approximately $6.0 million and $11.1 million of receivables, respectively, and recognized a related loss of approximately $21,000 and $39,000 in selling, general and administrative expenses, respectively, for the same period. During the three and nine months ended September 30, 2017, the Company sold approximately $13.9 million and $22.1 million of receivables, respectively, and recognized a related loss of approximately $49,000 and $78,000 in selling, general and administrative expenses, respectively, for the same period. As of September 30, 2018, the balance of the sold receivables was approximately $2.9 million, and the related deferred price was approximately $0.4 million. As of December 31, 2017, there were no outstanding sold receivables.

Inventories
Inventories are stated at the lower of cost or net realizable value, where cost is determined on the weighted average method. Substantially all inventories consist of purchased commercial off-the-shelf hardware and software, and component computer parts used in connection with system integration services that we perform. An allowance for obsolete, slow-moving or nonsalable inventory is provided for all other inventory. This allowance is based on our overall obsolescence experience and our assessment of future inventory requirements. This charge is taken primarily due to the age of the specific inventory and the significant additional costs that would be necessary to upgrade to current standards as well as the lack of forecasted sales for such inventory in the near future. Gross inventory is $9.7 million and $15.0 million as of September 30, 2018 and December 31, 2017, respectively. As of September 30, 2018, it is management's judgment that we have fully provided for any potential inventory obsolescence, which was $0.9 million and $1.5 million as of September 30, 2018 and December 31, 2017, respectively.

Software Development Costs
Software development costs for software to be sold, leased or otherwise marketed are expensed as incurred until technological feasibility is reached, at which time additional costs are capitalized until the product is available for general release to customers. Technological feasibility is established when all planning, designing, coding and testing activities have been completed, and all risks have been identified.  Beginning with the second quarter of 2017, software development costs are capitalized and amortized over the estimated product life of 2 years on a straight-line basis. As of September 30, 2018, we capitalized $2.8 million of software development costs, which are included as a part of property and equipment. Amortization expense was $0.3 million and $0.7 million for the three and nine months ended September 30, 2018, respectively. Accumulated amortization was $0.9 million as of September 30, 2018. There was no amortization expense for the three and nine months ended September 30, 2017. The Company analyzes the net realizable value of capitalized software development costs on at least an annual basis and has determined that there is no indication of impairment of the capitalized software development costs as forecasted future sales are adequate to support amortization costs.

Income Taxes
We account for income taxes in accordance with ASC 740-10, "Income Taxes."  Under ASC 740-10, deferred tax assets and liabilities are recognized for the estimated future tax consequences of temporary differences and income tax credits.  Deferred tax assets and liabilities are measured by applying enacted statutory tax rates that are applicable to the future years in which deferred tax assets or liabilities are expected to be settled or realized for differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities.  Any change in tax rates on deferred tax assets and liabilities is recognized in net income in the period in which the tax rate change is enacted.  We record a valuation allowance that reduces deferred tax assets when it is "more likely than not" that deferred tax assets will not be realized.  We are required to establish a valuation allowance for deferred tax assets if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on available evidence, realization of deferred tax assets is dependent upon the generation of future taxable income.  We considered projected future taxable income, tax planning strategies, and reversal of taxable temporary differences in making this assessment. As such, we have determined that a full valuation allowance is required as of September 30, 2018 and December 31, 2017. As a result of a full valuation allowance against our deferred tax assets, a deferred tax liability (hanging credit) related to goodwill remains on our condensed consolidated balance sheets at September 30, 2018 and December 31, 2017. Due to the tax reform enacted on December 22, 2017, net operating losses generated in taxable years beginning after December 31, 2017 will have an indefinite carryforward period, which will be available to offset future taxable income created by the reversal of temporary taxable differences related to goodwill. As a result, we have adjusted the valuation allowance on our deferred tax assets and liabilities at September 30, 2018 and December 31, 2017.

We follow the provisions of ASC 740-10 related to accounting for uncertainty in income taxes. The accounting estimates related to liabilities for uncertain tax positions require us to make judgments regarding the sustainability of each uncertain tax position based on its technical merits. If we determine it is more likely than not that a tax position will be sustained based on its technical merits, we record the impact of the position in our consolidated financial statements at the largest amount that is greater than fifty percent likely of being realized upon ultimate settlement. These estimates are updated at each reporting date based on the facts, circumstances and information available. We are also required to assess at each reporting date whether it is reasonably possible that any significant increases or decreases to our unrecognized tax benefits will occur during the next 12 months.

The provision for income taxes in interim periods is computed by applying the estimated annual effective tax rate against earnings before income tax expense for the period. In addition, non-recurring or discrete items are recorded during the period in which they occur.

Goodwill
We evaluate the impairment of goodwill and other intangible assets in accordance with ASC 350, "Intangibles - Goodwill and Other," which requires goodwill and indefinite-lived intangible assets to be assessed on at least an annual basis for impairment using a fair value basis. Between annual evaluations, if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount, then impairment must be evaluated. Such circumstances could include, but are not limited to: (1) a significant adverse change in legal factors or business climate, or (2) a loss of key contracts or customers.

As the result of an acquisition, we record any excess purchase price over the net tangible and identifiable intangible assets acquired as goodwill. An allocation of the purchase price to tangible and intangible net assets acquired is based upon our valuation of the acquired assets. Goodwill is not amortized, but is subject to annual impairment tests. We complete our goodwill impairment tests as of December 31st each year. Additionally, we make evaluations between annual tests if events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The evaluation is based on the estimation of the fair values of our three reporting units, CO&D, Identity Management, and IT and Enterprise Solutions, of which goodwill is housed in the CO&D reporting unit, in comparison to the reporting unit's net asset carrying values. Our discounted cash flows required management judgment with respect to forecasted revenue streams and operating margins, capital expenditures and the selection and use of an appropriate discount rate. We utilized the weighted average cost of capital as derived by certain assumptions specific to our facts and circumstances as the discount rate. The net assets attributable to the reporting units are determined based upon the estimated assets and liabilities attributable to the reporting units in deriving its free cash flows. In addition, the estimate of the total fair value of our reporting units is compared to the market capitalization of the Company. The Company's assessment resulted in a fair value that was greater than the Company's carrying value, therefore the second step of the impairment test, as prescribed by the authoritative literature, was not required to be performed and no impairment of goodwill was recorded as of  December 31, 2017. There were no triggering events which would require goodwill impairment consideration during the quarter. Subsequent reviews may result in future periodic impairments that could have a material adverse effect on the results of operations in the period recognized. Certain negative potential events, such as a material loss or losses on contracts, or failure to achieve projected growth could result in impairment in the future. We estimate fair value of our reporting unit and compare the valuation with the respective carrying value for the reporting unit to determine whether any goodwill impairment exists. If we determine through the impairment review process that goodwill is impaired, we will record an impairment charge in our consolidated statements of operations. Goodwill is amortized and deducted over a 15-year period for tax purposes.

Stock-Based Compensation
Compensation cost is recognized based on the requirements of ASC 718, "Stock Compensation," for all share-based awards granted. Since June 2008, we have issued restricted stock (Class A common) to our executive officers, directors and employees. To date, there have been no grants in 2018. In May 2017, we granted 5,005,000 shares of restricted stock to our executive officers and employees. Such stock is subject to a vesting schedule as follows:  25% of the restricted stock vests immediately on the date of grant, thereafter, an additional 25% will vest annually on the anniversary of the date of grant subject to continued employment or services. As of September 30, 2018, there were 2,457,500 shares of restricted stock that remained subject to vesting. In the event of death of the employee or a change in control, as defined by the Telos Corporation 2008 Omnibus Long-Term Incentive Plan, the 2013 Omnibus Long-Term Incentive Plan, or the 2016 Omnibus Long-Term Incentive Plan, all unvested shares shall automatically vest in full. In accordance with ASC 718, we recorded immaterial compensation expense for any of the issuances as the value of our common stock was nominal, based on the deduction of our outstanding debt, capital lease obligations, and preferred stock from an estimated enterprise value, which was estimated based on discounted cash flow analysis, comparable public company analysis, and comparable transaction analysis.  Additionally, we determined that a significant change in the valuation estimate for common stock would not have a significant effect on the condensed consolidated financial statements.

Other Comprehensive Income
Our functional currency is the U.S. Dollar. For one of our wholly owned subsidiaries, the functional currency is the local currency. For this subsidiary, the translation of its foreign currency into U.S. Dollars is performed for assets and liabilities using current foreign currency exchange rates in effect at the balance sheet date and for revenue and expense accounts using average foreign currency exchange rates during the period. Translation gains and losses are included in stockholders' deficit as a component of accumulated other comprehensive income.

Accumulated other comprehensive income included within stockholders' deficit consists of the following (in thousands):

  
September 30, 2018
  
December 31, 2017
 
Cumulative foreign currency translation loss
 
$
(84
)
 
$
(75
)
Cumulative actuarial gain on pension liability adjustment
  
107
   
107
 
Accumulated other comprehensive income
 
$
23
  
$
32
 
XML 19 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Non-controlling Interests
 9 Months Ended
Sep. 30, 2018
Non-controlling Interests [Abstract]  
Non-controlling Interests
Note 2.  Non-controlling Interests
On April 11, 2007, Telos ID was formed as a limited liability company under the Delaware Limited Liability Company Act. We contributed substantially all of the assets of our Identity Management business line and assigned our rights to perform under our U.S. Government contract with the Defense Manpower Data Center ("DMDC") to Telos ID at their stated book values. The net book value of assets we contributed totaled $17,000. Until April 19, 2007, we owned 99.999% of the membership interests of Telos ID and certain private equity investors ("Investors") owned 0.001% of the membership interests of Telos ID. On April 20, 2007, we sold an additional 39.999% of the membership interests to the Investor in exchange for $6 million in cash consideration. In accordance with ASC 505-10, "Equity-Overall," we recognized a gain of $5.8 million. As a result, we owned 60% of Telos ID, and therefore continued to account for the investment in Telos ID using the consolidation method.

On December 24, 2014 (the "Closing Date"), we entered into a Membership Interest Purchase Agreement (the "Purchase Agreement"), between the Company and the Investors, pursuant to which the Investors acquired from the Company an additional ten percent (10%) membership interest in Telos ID in exchange for $5 million (the "Transaction"). In connection with the Transaction, the Company and the Investors entered into the Second Amended and Restated Operating Agreement (the "Operating Agreement") governing the business, allocation of profits and losses and management of Telos ID. Under the Operating Agreement, Telos ID is managed by a board of directors comprised of five (5) members (the "Telos ID Board"). The Operating Agreement provides for two classes of membership units, Class A (owned by the Company) and Class B (owned by the Investors). The Class A member (the Company) owns 50% of Telos ID, is entitled to receive 50% of the profits of Telos ID, and may appoint three (3) members of the Telos ID Board. The Class B member (the Investors) owns 50% of Telos ID, is entitled to receive 50% of the profits of Telos ID, and may appoint two (2) members of the Telos ID Board.

Despite the post-Transaction ownership of Telos ID being evenly split at 50% by each member, Telos maintains control of the subsidiary through its holding of three of the five Telos ID board of director seats.

Under the Operating Agreement, the Class A and Class B members each have certain options with regard to the ownership interests held by the other party including the following:

●
Upon the occurrence of a change in control of the Class A member (as defined in the Operating Agreement, a "Change in Control"), the Class A member has the option to purchase the entire membership interest of the Class B member.
●
Upon the occurrence of the following events: (i) the involuntary termination of John B. Wood as CEO and chairman of the Class A member; (ii) the bankruptcy of the Class A member; or (iii) unless the Class A member exercises its option to acquire the entire membership interest of the Class B member upon a Change in Control of the Class A member, the transfer or issuance of more than fifty-one percent (51%) of the outstanding voting securities of the Class A member to a third party, the Class B member has the option to purchase the membership interest of the Class A member; provided, however, that in the event that the Class B member exercises the foregoing option, the Class A Member may then choose to purchase the entire interest of the Class B member.
●
In the event that more than fifty percent (50%) of the ownership interests in the Class B member are transferred to persons or individuals (other than members of the immediate family of the initial owners of the Class B member) without the consent of Telos ID, the Class A member has the option to purchase the entire membership interest of the Class B member.
●
The Class B member has the option to sell its interest to the Class A member at any time if there is not a letter of intent to sell Telos ID, a binding contract to sell all of the assets or membership interests in Telos ID, or a standstill for due diligence with respect to a sale of Telos ID. Notwithstanding the foregoing, the Class A member will not be obligated to purchase the interest of the Class B member if that purchase would constitute a violation of any existing line of credit available to the Company after giving effect to that purchase and the applicable lender refuses to consent to that purchase or to waive such violation.

If either the Class A member or the Class B member elects to sell its interest or buy the other member's interest upon the occurrence of any of the foregoing events, the purchase price for the interest will be based on an appraisal of Telos ID prepared by a nationally recognized investment banker. If the Class A member fails to satisfy its obligation, subject to the restrictions in the Purchase Agreement, to purchase the interest of the Class B member under the Operating Agreement, the Class B member may require Telos ID to initiate a sales process for the purpose of seeking an offer from a third party to purchase Telos ID that maximizes the value of Telos ID. The Telos ID Board must accept any offer from a bona fide third party to purchase Telos ID if that offer is approved by the Class B member, unless the purchase of Telos ID would violate the terms of any existing line of credit available to the Company and the applicable lender does not consent to that purchase or waive the violation. The sale process is the sole remedy available to the Class B member if the Class A member does not purchase its membership interest.  Under such a forced sale scenario, a sales process would result in both members receiving their proportionate membership interest share of the sales proceeds and both members would always be entitled to receive the same form of consideration.

Pursuant to the Transaction, the Class A and Class B members each owns 50% of Telos ID, as mentioned above, and as such was allocated 50% of the profits, which was $0.7 million and $1.5 million for the three and nine months ended September 30, 2018, respectively, and $1.1 million and $1.4 million for the three and nine months ended September 30, 2017, respectively. The Class B member is the non-controlling interest.

Distributions are made to the members only when and to the extent determined by the Telos ID's Board of Directors, in accordance with the Operating Agreement. The Class B member received a total $0.2 million and $1.1 million for the three and nine months ended September 30, 2018, respectively, and $0.2 million and $2.6 million for the three and nine months ended September 30, 2017, respectively, of such distributions.

The following table details the changes in non-controlling interest for the three and nine months ended September 30, 2018 and 2017 (in thousands):

  
Three Months Ended September 30,
  
Nine Months Ended September 30,
 
  
2018
  
2017
  
2018
  
2017
 
Non-controlling interest, beginning of period
 
$
773
  
$
235
  
$
913
  
$
2,229
 
Net income
  
715
   
1,078
   
1,480
   
1,430
 
Distributions
  
(233
)
  
(227
)
  
(1,138
)
  
(2,573
)
Non-controlling interest, end of period
 
$
1,255
  
$
1,086
  
$
1,255
  
$
1,086
 
XML 20 R10.htm IDEA: XBRL DOCUMENT v3.10.0.1
Goodwill
 9 Months Ended
Sep. 30, 2018
Goodwill [Abstract]  
Goodwill
Note 3.  Goodwill
The goodwill balance was $14.9 million as of September 30, 2018 and December 31, 2017. Goodwill is subject to annual impairment tests and if triggering events are present before the annual tests, we will assess impairment. As of September 30, 2018, no impairment charges were taken.
XML 21 R11.htm IDEA: XBRL DOCUMENT v3.10.0.1
Fair Value Measurements
 9 Months Ended
Sep. 30, 2018
Fair Value Measurements [Abstract]  
Fair Value Measurements
Note 4.  Fair Value Measurements
The accounting standard for fair value measurements provides a framework for measuring fair value and expands disclosures about fair value measurements. The framework requires the valuation of financial instruments using a three-tiered approach. The statement requires fair value measurement to be classified and disclosed in one of the following categories:

Level 1:  Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets and liabilities;

Level 2:  Quoted prices in the markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; or

Level 3:  Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity).

As of September 30, 2018 and December 31, 2017, we did not have any financial instruments with significant Level 3 inputs and we did not have any financial instruments that are measured at fair value on a recurring basis.

As of September 30, 2018 and December 31, 2017, the carrying value of the Company's 12% Cumulative Exchangeable Redeemable Preferred Stock, par value $.01 per share (the "Public Preferred Stock") was $134.4 million and $131.6 million, respectively, and the estimated fair market value was $41.2 million and $42.2 million, respectively, based on quoted market prices.

For certain of our non-derivative financial instruments, including receivables, accounts payable and other accrued liabilities, the carrying amount approximates fair value due to the short-term maturities of these instruments. The estimated fair value of the Facility and long-term debt is based primarily on borrowing rates currently available to the Company for similar debt issues. The fair value approximates the carrying value of long-term debt.
XML 22 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
Current Liabilities and Debt Obligations
 9 Months Ended
Sep. 30, 2018
Current Liabilities and Debt Obligations [Abstract]  
Current Liabilities and Debt Obligations
Note 5.  Current Liabilities and Debt Obligations

Accounts Payable and Other Accrued Payables
As of September 30, 2018 and December 31, 2017, the accounts payable and other accrued payables consisted of $16.9 million and $15.4 million, respectively, in trade account payables and $3.0 million and $10.3 million, respectively, in accrued payables.

Contract Liabilities 
Contract liabilities are payments received in advance and milestone payments from our customers on selected contracts that exceed revenue earned to date, resulting in contract liabilities. Contract liabilities typically are not considered a significant financing component because they are typically satisfied within one year and are used to meet working capital demands that can be higher in the early stages of a contract. Contract liabilities are reported on our condensed consolidated balance sheets on a net contract basis at the end of each reporting period. As of September 30, 2018 and December 31, 2017, the contract liabilities primarily consisted of product support services.

Enlightenment Capital Credit Agreement
On January 25, 2017, we entered into a Credit Agreement (the "Credit Agreement") with Enlightenment Capital Solutions Fund II, L.P., as agent (the "Agent"), and the lenders party thereto (the "Lenders"), (together referenced as "EnCap"). The Credit Agreement provides for an $11 million senior term loan (the "Loan") with a maturity date of January 25, 2022, subject to acceleration in the event of customary events of default.

All borrowings under the Credit Agreement accrue interest at the rate of 13.0% per annum (the "Accrual Rate"). If, at the request of the Company, the Agent executes an intercreditor agreement with another senior lender under which the Agent and the Lenders subordinate their liens (an "Alternative Interest Rate Event"), the interest rate will increase to 14.5% per annum. After the occurrence and during the continuance of any event of default, the interest rate will increase 2.0%. The Company is obligated to pay accrued interest in cash on a monthly basis at a rate of not less than 10.0% per annum or, during the continuance of an Alternate Interest Rate Event, 11.5% per annum. The Company may elect to pay the remaining interest in cash, by payment-in-kind (by addition to the principal amount of the Loan) or by combination of cash and payment-in-kind. Upon thirty days prior written notice, the Company may prepay any portion or the entire amount of the Loan.

An amount of approximately $1.1 million was netted from the proceeds on the Loan as a prepayment of all interest due and payable at the Accrual Rate during the period from January 25, 2017 to October 31, 2017. A separate fee letter executed by the Company and the Agent, dated January 25, 2017, sets forth the fees payable to the Agent in connection with the Credit Agreement.

The Credit Agreement contains representations, warranties, covenants, terms and conditions customary for transactions of this type. In connection with the Credit Agreement, the Agent has been granted, for the benefit of the Lenders, a security interest in and general lien upon various property of the Company, subject to certain permitted liens and any intercreditor agreement. The occurrence of an event of default under the Credit Agreement could result in the Loan and other obligations becoming immediately due and payable and allow the Lenders to exercise all rights and remedies available to them under the Credit Agreement or as a secured party under the UCC, in addition to all other rights and remedies available to them.

In connection with the Credit Agreement, on January 25, 2017, the Company issued warrants (each, a "Warrant") to Agent and certain of the Lenders representing in the aggregate the right to purchase in accordance with their terms 1,135,284.333 shares of the Class A Common Stock of the Company, no par value per share, which is equivalent to approximately 2.5% of the common equity interests of the Company on a fully diluted basis. The exercise price is $1.321 per share and each Warrant expires on January 25, 2027. The value of the warrants was determined to be de minimis and no value was allocated to them on a relative fair value basis in accounting for the debt instrument.

Effective February 23, 2017, the Credit Agreement was amended to change the required timing of certain post-closing items to allow for more time to complete the legal and administrative requirements around such items. On April 18, 2017, the Credit Agreement was further amended (the "Second Amendment") to incorporate the parties' agreement to subordinate certain debt owed by the Company to the affiliated entities of Mr. John R. C. Porter (the "Subordinated Debt") and to redeem all outstanding shares of the Series A-1 Redeemable Preferred Stock and the Series A-2 Redeemable Preferred Stock, including those owned by Mr. John R.C. Porter and his affiliates, for an aggregate redemption price of $2.1 million.

In connection with the Second Amendment and that subordination of debt, on April 18, 2017, we also entered into Subordination and Intercreditor Agreements (the "Intercreditor Agreements") with affiliated entities of Mr. John R. C. Porter (together referenced as "Porter"), in which Porter agreed that the Subordinated Debt is fully subordinated to the amended Credit Agreement and related documents, and that required payments, if any, under the Subordinated Debt are permitted only if certain conditions are met.

The Credit Agreement also includes an $825,000 exit fee, which is payable upon any repayment or prepayment of the loan. This amount has been included in the total principal due and treated as an unamortized discount on the debt, which will be amortized over the term of the loan, using the effective interest method at a rate of 15.0%. We incurred fees and transaction costs of approximately $374,000 related to the issuance of the Credit Agreement, which are being amortized over the life of the Credit Agreement.

On March 30, 2018, the Credit Agreement was amended (the "Third Amendment") to waive any actual or potential non-compliance with covenants in 2017 and to reset the covenants for 2018 measurement periods to more accurately reflect the Company's projected performance for the year. The measurement against the covenants for consolidated leverage ratio and consolidated fixed charge coverage ratio were agreed to not be measured as of December 31, 2017 and were reset for 2018 measurement periods. Additionally, a minimum revenue covenant and a net working capital covenant were added. In consideration of these amendments, the interest rate on the loan was increased by 1%, which will revert back to the original rate upon achievement of two consecutive quarters of a specified fixed charge coverage ratio as defined in the agreement. The Company may elect to pay the increase in interest expense in cash or by payment-in-kind (by addition to the principal amount of the Loan). The increase in interest expense was paid in cash during the six months ended September 30, 2018.  Contemporaneously with the Third Amendment, Mr. Wood agreed to transfer 50,000 shares of the Company's Class A Common Stock owned by him to EnCap. As of September 30, 2018, we were in compliance with the Credit Agreement's financial covenants.

The carrying amount of the Credit Agreement consisted of the following (in thousands):

  
September 30, 2018
  
December 31, 2017
 
Senior term loan, including exit fee
 
$
11,825
  
$
11,825
 
Less:  Unamortized discount, debt issuance costs, and lender fees
  
(894
)
  
(1,039
)
Senior term loan, net
 
$
10,931
  
$
10,786
 

We incurred interest expense in the amount of $0.4 million and $1.3 million for the three and nine months ended September 30, 2018, respectively, and $0.4 million and $1.1 million for the three and nine months ended September 30, 2017, respectively, under the Credit Agreement.

Accounts Receivable Purchase Agreement
On July 15, 2016, we entered into an Accounts Receivable Purchase Agreement (the "Purchase Agreement") with Republic Capital Access, LLC ("RCA" or "Buyer"), pursuant to which we may offer for sale, and RCA, in its sole discretion, may purchase, eligible accounts receivable relating to U.S. government prime contracts or subcontracts of the Company (collectively, the "Purchased Receivables"). Upon purchase, RCA becomes the absolute owner of any such Purchased Receivables, which are payable directly to RCA, subject to certain repurchase obligations of the Company. The total amount of Purchased Receivables is subject to a maximum limit of $10 million of outstanding Purchased Receivables (the "Maximum Amount") at any given time. The Purchase Agreement had an initial term expiring on June 30, 2018 and automatically renews for successive 12-month renewal periods unless terminated in writing by either the Company or RCA. On March 2, 2018, the term of the Purchase Agreement was extended to June 30, 2020. No fee or consideration of any kind was paid in connection with this extension.

The initial purchase price of a Purchased Receivable is equal to 90% of the face value of the receivable if the account debtor is an agency of the U.S. government, and 85% if the account debtor is not an agency of the U.S. government; provided, however, that RCA has the right to adjust these initial purchase price rates in its sole discretion. After collection by RCA of the portion of a Purchased Receivable in excess of the initial purchase price, RCA shall pay the Company the residual 10% or 15% of such Purchased Receivable, as appropriate, less (i) a discount factor equal to 0.30%, for federal government prime contracts (or 0.56% for non-federal government investment grade account obligors or 0.62% for non-federal government non-investment grade account obligors) of the face amounts of Purchased Receivables; (ii) a program access fee equal to 0.008% of the daily ending account balance for each day that Purchased Receivable are outstanding; (iii) a commitment fee equal to 1% per annum of Maximum Amount minus the amount of Purchased Receivables outstanding; and (iv) fees, costs and expenses relating to the preparation, administration and enforcement of the Purchase Agreement and any other related agreements.

The Purchase Agreement provides that in the event, but only to the extent, that the conveyance of Purchased Receivables by the Company is characterized by a court or other governmental authority as a loan rather than a sale, the Company shall be deemed to have granted RCA, effective as of the date of the first purchase under the Purchase Agreement, a security interest in all of the Company's right, title and interest in, to and under all of the Purchased Receivables, whether now or hereafter owned, existing or arising.

The Company provides a power of attorney to RCA to take certain actions in the Company's stead, including (a) to sell, assign or transfer in whole or in part any of the Purchased Receivables; (b) to demand, receive and give releases to any account debtor with respect to amounts due under any Purchased Receivables; (c) to notify all account debtors with respect to the Purchased Receivables; and (d) to take any actions necessary to perfect RCA's interests in the Purchased Receivables.

The Company is liable to Buyer for any fraudulent statements and all representations, warranties, covenants, and indemnities made by the Company pursuant to the terms of the Purchase Agreement. It is considered an event of default if (a) the Company fails to pay any amounts it owes to RCA when due (subject to a cure period); (b) the Company has voluntary or involuntary bankruptcy proceedings commenced by or against it; (c) the Company is no longer solvent or is generally not paying its debts as they become due; (d) any voluntary liens, garnishments, attachments, or the like are issued against or attach to the Purchased Receivables; (e) the Company breaches any warranty, representation, or covenant (subject to a cure period); (f) the Company is not in compliance or has otherwise defaulted under any document or obligation in favor of RCA or an RCA affiliate; or (g) the Purchase Agreement or any material provision terminates (other than in accordance with the terms of the Purchase Agreement) or ceases to be effective or to be a binding obligation of the Company. If any such event of default occurs, then RCA may take certain actions, including ceasing to buy any eligible receivables, declaring any indebtedness or other obligations immediately due and payable, or terminating the Purchase Agreement.

Financing and Security Agreement
On July 15, 2016, we entered into a Financing and Security Agreement (the "Financing Agreement") with Action Capital Corporation ("Action Capital"), pursuant to which Action Capital agreed to provide the Company with advances of up to 90% of the net amount of certain acceptable customer accounts of the Company that have been assigned as collateral to Action Capital (the "Acceptable Accounts"). The maximum outstanding principal amount of advances under the Financing Agreement was $5 million. The Financing Agreement has a term of two years, provided that the Company may terminate it at any time without penalty upon written notice. On August 13, 2018, the Financing Agreement was extended through January 2, 2019. No fee or consideration of any kind was paid in connection with this extension.

The Company shall pay Action Capital interest on the advances outstanding under the Financing Agreement at a rate equal to the prime rate of Wells Fargo Bank, N.A. in effect on the last business day of the prior month plus 2%, and a monthly fee equal to 0.50%. All interest calculations are based on a year of 360 days. The Company's obligations under the Financing Agreement are secured by certain assets of the Company pertaining to the Acceptable Accounts, including all accounts, accounts receivable, earned and unbilled revenue, contract rights, chattel paper, documents, instruments, general intangibles, reserves, reserve accounts, rebates, books and records, and all proceeds of the foregoing.

Pursuant to the terms of the Financing Agreement, Action Capital shall have full recourse against the Company when an Acceptable Account is not paid in full by the respective customer within 90 days of the date of purchase or if for any reason it ceases to be an Acceptable Account, including the right to charge-back any such Acceptable Account. It is considered an event of default if the Company breaches any covenant or warranty, knowingly provides false or incorrect material information to Action Capital, or otherwise defaults on any of its material obligations under the Financing Agreement or any other material agreements with Action Capital (subject to a cure period). If any such events of default occur, then Action Capital may take certain actions, including declaring any indebtedness immediately due and payable, requiring any customers with Acceptable Accounts to make payments directly to Action Capital, exercising its power of attorney from the Company to take actions in the Company's stead with respect to any of Company's Acceptable Accounts, or terminating the Financing Agreement.

As of September 30, 2018, there were no outstanding borrowings under the Financing Agreement.

Subordinated Debt
On March 31, 2015, the Company entered into Subordinated Loan Agreements and Subordinated Promissory Notes ("Porter Notes") with affiliated entities of Mr. John R. C. Porter (together referenced as "Porter"). Mr. Porter and Toxford Corporation, of which Mr. Porter is the sole shareholder, own 35.0% of our Class A Common Stock. Under the terms of the Porter Notes, Porter lent the Company $2.5 million on or about March 31, 2015. According to the terms of the Porter Notes, the outstanding principal sum bears interest at the fixed rate of twelve percent (12%) per annum which would be payable in arrears in cash on the 20th day of each May, August, November and February, with the first interest payment date due on August 20, 2015. The Porter Notes do not call for amortization payments and are unsecured. The Porter Notes, in whole or in part, may be repaid at any time without premium or penalty. The unpaid principal, together with interest, was originally due and payable in full on July 1, 2017. 

On April 18, 2017, we amended and restated the Porter Notes to reduce the interest rate from twelve percent (12%) to six percent (6%) per annum, to be accrued, and extended the maturity date from July 1, 2017 to July 25, 2022. Telos also entered into the Intercreditor Agreements with Porter and EnCap, in which the Porter Notes are fully subordinated to the Credit Agreement and any subsequent senior lenders (including Action Capital), and payments under the Porter Notes are permitted only if certain conditions are met. All other terms remain in full force and effect. We incurred interest expense in the amount of $78,000 and $229,000 for three and nine months ended September 30, 2018, respectively, and $99,000 and $218,000 for the three and nine months ended September 30, 2017, respectively, on the Porter Notes. As a result of the amendment and restatement of the Porter Notes, we recorded a gain on extinguishment of debt of approximately $1 million, which consisted of the remeasurement of the debt at fair value. As the extinguishment was with a related party, the transaction was deemed to be a capital transaction and the gain was recorded in the Company's stockholders' deficit as of December 31, 2017.
XML 23 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
Redeemable Preferred Stock
 9 Months Ended
Sep. 30, 2018
Redeemable Preferred Stock [Abstract]  
Redeemable Preferred Stock
Note 6.  Redeemable Preferred Stock

A maximum of 6,000,000 shares of the Public Preferred Stock, par value $.01 per share, has been authorized for issuance. We initially issued 2,858,723 shares of the Public Preferred Stock pursuant to the acquisition of the Company during fiscal year 1990. The Public Preferred Stock was recorded at fair value on the date of original issue, November 21, 1989, and we made periodic accretions under the interest method of the excess of the redemption value over the recorded value. We adjusted our estimate of accrued accretion in the amount of $1.5 million in the second quarter of 2006. The Public Preferred Stock was fully accreted as of December 2008. We declared stock dividends totaling 736,863 shares in 1990 and 1991. Since 1991, no other dividends, in stock or cash, have been declared. In November 1998, we retired 410,000 shares of the Public Preferred Stock. The total number of shares issued and outstanding at September 30, 2018 and December 31, 2017 was 3,185,586. The Public Preferred Stock is quoted as "TLSRP" on the OTCQB marketplace and the OTC Bulletin Board.

 Since 1991, no dividends were declared or paid on our Public Preferred Stock, based upon our interpretation of restrictions in our Articles of Amendment and Restatement, limitations in the terms of the Public Preferred Stock instrument, specific dividend payment restrictions in the Credit Agreement and the Porter Notes to which the Public Preferred Stock is subject, other senior obligations currently or previously in existence, and Maryland law limitations in existence prior to October 1, 2009. Subsequent to the 2009 Maryland law change, dividend payments continue to be prohibited except under certain specific circumstances as set forth in Maryland Code Section 2-311, which the Company did not satisfy as of the measurement dates. Pursuant to the terms of the Articles of Amendment and Restatement, we were scheduled, but not required, to redeem the Public Preferred Stock in five annual tranches during the period 2005 through 2009. However, due to our substantial senior obligations currently or previously in existence, limitations set forth in the covenants in the Credit Agreement and the Porter Notes, foreseeable capital and operational requirements, and restrictions and prohibitions of our Articles of Amendment and Restatement, we were and remain unable to meet the redemption schedule set forth in the terms of the Public Preferred Stock as of the measurement dates. Moreover, the Public Preferred Stock is not payable on demand, nor callable, for failure to redeem the Public Preferred Stock in accordance with the redemption schedule set forth in the instrument. Therefore, we classify these securities as noncurrent liabilities in the condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017.

On January 25, 2017, we became parties with certain of our subsidiaries to the Credit Agreement with EnCap. Under the Credit Agreement, we agreed that, until full and final payment of the obligations under the Credit Agreement, we would not make any distribution or declare or pay any dividends (other than common stock) on our stock, or purchase, acquire, or redeem any stock, or exchange any stock for indebtedness, or retire any stock. Additionally, the Porter Notes contain similar prohibitions on dividend payments or stock redemptions.

Accordingly, as stated above, we will continue to classify the entirety of our obligation to redeem the Public Preferred Stock as a long-term obligation. The Credit Agreement and the Porter Notes prohibit, among other things, the redemption of any stock, common or preferred, other than as described above. The Public Preferred Stock by its terms also cannot be redeemed if doing so would violate the terms of an agreement regarding the borrowing of funds or the extension of credit which is binding upon us or any of our subsidiaries, and it does not include any other provisions that would otherwise require any acceleration of the redemption of or amortization payments with respect to the Public Preferred Stock. Thus, the Public Preferred Stock is not and will not be due on demand, nor callable, within 12 months from September 30, 2018.  This classification is consistent with ASC 210-10, "Balance Sheet" and 470-10, "Debt" and the FASB ASC Master Glossary definition of "Current Liabilities."

ASC 210-10 and the FASB ASC Master Glossary define current liabilities as follows: The term current liabilities is used principally to designate obligations whose liquidation is reasonably expected to require the use of existing resources properly classifiable as current assets, or the creation of other current liabilities. As a balance sheet category, the classification is intended to include obligations for items which have entered into the operating cycle, such as payables incurred in the acquisition of materials and supplies to be used in the production of goods or in providing services to be offered for sale; collections received in advance of the delivery of goods or performance of services; and debts that arise from operations directly related to the operating cycle, such as accruals for wages, salaries, commissions, rentals, royalties, and income and other taxes. Other liabilities whose regular and ordinary liquidation is expected to occur within a relatively short period of time, usually twelve months, are also intended for inclusion, such as short-term debts arising from the acquisition of capital assets, serial maturities of long-term obligations, amounts required to be expended within one year under sinking fund provisions, and agency obligations arising from the collection or acceptance of cash or other assets for the account of third persons.

ASC 470-10 provides the following: The current liability classification is also intended to include obligations that, by their terms, are due on demand or will be due on demand within one year (or operating cycle, if longer) from the balance sheet date, even though liquidation may not be expected within that period.  It is also intended to include long-term obligations that are or will be callable by the creditor either because the debtor's violation of a provision of the debt agreement at the balance sheet date makes the obligation callable or because the violation, if not cured within a specified grace period, will make the obligation callable.

If, pursuant to the terms of the Public Preferred Stock, we do not redeem the Public Preferred Stock in accordance with the scheduled redemptions described above, the terms of the Public Preferred Stock require us to discharge our obligation to redeem the Public Preferred Stock as soon as we are financially capable and legally permitted to do so. Therefore, by its very terms, the Public Preferred Stock is not due on demand or callable for failure to make a scheduled payment pursuant to its redemption provisions and is properly classified as a noncurrent liability.

We pay dividends on the Public Preferred Stock when and if declared by the Board of Directors. The Public Preferred Stock accrues a semi-annual dividend at the annual rate of 12% ($1.20) per share, based on the liquidation preference of $10 per share and is fully cumulative. Dividends in additional shares of the Public Preferred Stock for 1990 and 1991 were paid at the rate of 6% of a share for each $.60 of such dividends not paid in cash. For the cash dividends payable since December 1, 1995, we have accrued $102.6 million and $99.7 million as of September 30, 2018 and December 31, 2017, respectively. We accrued dividends on the Public Preferred Stock of $1.0 million and $2.9 million for each of the three and nine months ended September 30, 2018 and 2017, respectively, which was recorded as interest expense. Prior to the effective date of ASC 480-10 on July 1, 2003, such dividends were charged to stockholders' accumulated deficit.
XML 24 R14.htm IDEA: XBRL DOCUMENT v3.10.0.1
Income Taxes
 9 Months Ended
Sep. 30, 2018
Income Taxes [Abstract]  
Income Taxes
Note 7.  Income Taxes
The income tax provision for interim periods is determined using an estimated annual effective tax rate adjusted for discrete items, if any, which are taken into account in the quarterly period in which they occur.  We review and update our estimated annual effective tax rate each quarter. The 2018 tax rate reflects the enactment of the Tax Cuts and Jobs Act of 2017 ("Tax Act"), which permanently reduced the U.S. corporate statutory rate from 35% to 21% effective January 1, 2018. For the three and nine months ended September 30, 2018 and 2017, our estimated annual effective tax rate was primarily impacted by the overall valuation allowance position which reduced the net tax impact from taxable income (loss) for all periods. Accordingly, we recorded an approximately $106,000 and $41,000 income tax benefit for the three and nine months ended September 30, 2018, respectively, and $211,000 and $529,000 income tax provision for the three and nine months ended September 30, 2017, respectively.

In 2017, in accordance with Staff Accounting Bulletin No. 118, "Income Tax Accounting Implications of the Tax Cuts and Jobs Act", we recorded provisional amounts related to the Tax Act, including the remeasurement of our deferred tax assets and liabilities and the valuation allowance related to the hanging credit deferred tax liability. We continue to evaluate the impact of the Tax Act, which may result in changes to our tax estimates.

We are required to establish a valuation allowance for deferred tax assets if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on available evidence, realization of deferred tax assets is dependent upon the generation of future taxable income. We considered projected future taxable income, tax planning strategies, and reversal of taxable temporary differences in making this assessment. As such, we have determined that a full valuation allowance is required as of September 30, 2018 and December 31, 2017. Under the Tax Act, we will be able to use our hanging credit deferred tax liabilities as a source of taxable income to support the indefinite-lived net operating losses created by the future reversal of our temporary differences. Accordingly, we have re-measured our existing deferred tax assets and liabilities using the enacted tax rate, and adjusted the valuation allowance on our deferred taxes and, as a result, a deferred tax liability related to goodwill of $779,000 and $741,000 remains on our condensed consolidated balance sheets at September 30, 2018 and December 31, 2017, respectively.

Under the provisions of ASC 740-10, we determined that there were approximately $700,000 and $677,000 of unrecognized tax benefits, including $289,000 and $266,000 of related interest and penalties, required to be recorded in other liabilities in the condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017, respectively. We believe that the total amounts of unrecognized tax benefits will not significantly increase or decrease within the next 12 months.
XML 25 R15.htm IDEA: XBRL DOCUMENT v3.10.0.1
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2018
Commitments and Contingencies [Abstract]  
Commitments and Contingencies
Note 8.  Commitments and Contingencies

Financial Condition and Liquidity
As described in Note 5 – Current Liabilities and Debt Obligations, we maintain a Credit Agreement with EnCap, a Purchase Agreement with RCA and a Financing Agreement with Action Capital. The willingness of RCA to purchase our accounts receivable under the Purchase Agreement and of Action Capital to make advances under the Financing Agreement, and our ability to obtain additional financing, may be limited due to various factors, including the eligibility of our receivables, the status of our business, global credit market conditions, and perceptions of our business or industry by EnCap, RCA, Action Capital, or other potential sources of financing. If we are unable to maintain the Purchase Agreement and the Financing Agreement, we would need to obtain additional credit to fund our future operations. If credit is available in that event, lenders may impose more restrictive terms and higher interest rates that may reduce our borrowing capacity, increase our costs, or reduce our operating flexibility. The failure to maintain, extend, renew or replace the Purchase Agreement and the Financing Agreement with a comparable arrangement or arrangements that provide similar amounts of liquidity for the Company would have a material negative impact on our overall liquidity, financial and operating results.

While a variety of factors related to sources and uses of cash, such as timeliness of accounts receivable collections, vendor credit terms, or significant collateral requirements, ultimately impact our liquidity, such factors may or may not have a direct impact on our liquidity, based on how the transactions associated with such circumstances impact our availability under our credit arrangements. For example, a contractual requirement to post collateral for a duration of several months, depending on the materiality of the amount, could have an immediate negative effect on our liquidity, as such a circumstance would utilize cash resources without a near-term cash inflow back to us. Likewise, the release of such collateral could have a corresponding positive effect on our liquidity, as it would represent an addition to our cash resources without any corresponding near-term cash outflow. Similarly, a slow-down of payments from a customer, group of customers or government payment office would not have an immediate and direct effect on our availability unless the slowdown was material in amount and over an extended period of time. Any of these examples would have an impact on our cash resources, our financing arrangements, and therefore ultimately our liquidity.

Management may determine that, in order to reduce capital and liquidity requirements, planned spending on capital projects and indirect expense growth may be curtailed, subject to growth in operating results. Additionally, management may seek to put in place a credit facility with a commercial bank, although no assurance can be given that such a facility could be put in place under terms acceptable to the Company. Should management determine that additional capital is required, management would likely look first to the sources of funding discussed above to meet any requirements, although no assurances can be given that these investors would be able to invest or that the Company and the investors would agree upon terms for such investments.

Our working capital was $4.0 million and $(4.1) million as of September 30, 2018 and December 31, 2017, respectively. Although no assurances can be given, we expect that our financing arrangements with EnCap, RCA and Action Capital, collectively, and funds generated from operations are sufficient to maintain the liquidity we require to meet our operating, investing and financing needs for the next 12 months.

Legal Proceedings

Costa Brava Partnership III, L.P., et al. v. Telos Corporation, et al.
As previously disclosed in Note 13 of the Consolidated Financial Statements contained in our Annual Report on Form 10-K for the year ended December 31, 2017, on October 17, 2005, Costa Brava Partnership III, L.P. ("Costa Brava"), a holder of our Public Preferred Stock, filed a lawsuit against the Company and certain past and present directors and officers ("Telos Defendants") in the Circuit Court for Baltimore City, Maryland (the "Circuit Court"). A second holder of the Company's Public Preferred Stock, Wynnefield Small Cap Value, L.P. ("Wynnefield"), subsequently intervened as a co-Plaintiff (Costa Brava and Wynnefield are hereinafter referred to as "Plaintiffs").  On February 27, 2007, Plaintiffs added, as an additional defendant, Mr. John R.C. Porter, a holder of the Company's Class A common stock. As of September 30, 2018, Costa Brava and Wynnefield, directly and through affiliated funds, own 12.7% and 17.4%, resepectively, of the outstanding Public Preferred Stock. There have been no material developments in this litigation during the three month period ended September 30, 2018, and the matter remains pending.

At this stage of the litigation, it is impossible to reasonably determine the degree of probability related to Plaintiffs' success in relation to any of their assertions in the litigation.  Although there can be no assurance as to the ultimate outcome of the case, the Company and its present and former officers and directors strenuously deny Plaintiffs' allegations and continue to vigorously defend the matter and oppose all relief sought by Plaintiffs.

Hamot et al. v. Telos Corporation
As previously disclosed in Note 13 of the Consolidated Financial Statements contained in our Annual Report on Form 10-K for the year ended December 31, 2017, the Company has been engaged in litigation in the Circuit Court since August 2, 2007 with Messrs. Seth W. Hamot and Andrew R. Siegel ("Plaintiffs/Counterdefendants") in which the Plaintiffs sought access to various books and records of the Company and injunctive and other relief related thereto, and in which the Company filed a Counterclaim against the Plaintiffs/Counterdefendants for various alleged wrongs.  Mr. Siegel is a Class D Director of the Company and Mr. Hamot was a Class D Director of the Company until his resignation on March 9, 2018.

On or about July 6, 2018, the attorneys representing Mr. Hamot filed a Notice of Substitution of Party in the Circuit Court and the Court of Special Appeals, providing notice that Mr. Steven Tannanbaum was appointed and qualified as the Special Personal Representative of the Estate of Mr. Seth Hamot to represent the estate in the litigation.

The briefing on Telos' appeal was completed and oral argument on Telos' appeal was held before the Court of Special Appeals on October 3, 2018.  The appeal remains pending.

On September 21, 2018, Plaintiffs filed in the Circuit Court a Motion for Entry of Money Judgment of Advancement Fees and Expenses, or, in the Alternative, for Order that Telos Corporation Show Cause Why Telos Corporation Should Not be Held in Contempt for Failing to Comply with this Court's June 27, 2018 Order Directing Telos Corporation to Pay Advancement Fees and Expenses.  Telos filed its Opposition to the Motion on October 9, 2018.  The matter remains pending.

At this stage of the litigation, in light of the pendency of the appeal and Plaintiffs'/Counterdefendants' dismissal of their cross-appeal, it is impossible to reasonably determine the degree of probability related to the Company's success in relation to any of the assertions in the foregoing litigation.

Other Litigation
In addition, the Company is a party to litigation arising in the ordinary course of business.  In the opinion of management, while the results of such litigation cannot be predicted with any reasonable degree of certainty, the final outcome of such known matters will not, based upon all available information, have a material adverse effect on the Company's condensed consolidated financial position, results of operations or cash flows.
XML 26 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions
 9 Months Ended
Sep. 30, 2018
Related Party Transactions [Abstract]  
Related Party Transactions
Note 9.  Related Party Transactions
Emmett J. Wood, the brother of our Chairman and CEO, has been an employee of the Company since 1996. The amounts paid to this individual as compensation were $106,000 and $392,000 for the three and nine months ended September 30, 2018, respectively, and $77,000 and $420,000 for the three and nine months ended September 30, 2017, respectively. Additionally, as of September 30, 2018 and December 31, 2017, Mr. Wood owned 810,000 shares of the Company's Class A Common Stock and 50,000 shares of the Company's Class B Common Stock.

On March 31, 2015, the Company entered into the Porter Notes. Mr. Porter and Toxford Corporation, of which Mr. Porter is the sole shareholder, own 35.0% of our Class A Common Stock. Under the terms of the Porter Notes, Porter lent the Company $2.5 million on or about March 31, 2015. According to the terms of the Porter Notes, the outstanding principal sum bears interest at the fixed rate of twelve percent (12%) per annum which would be payable in arrears in cash on the 20th day of each May, August, November and February, with the first interest payment date due on August 20, 2015. The Porter Notes do not call for amortization payments and are unsecured. The Porter Notes, in whole or in part, may be repaid at any time without premium or penalty. The unpaid principal, together with interest, was originally due and payable in full on July 1, 2017. 

On April 18, 2017, we amended and restated the Porter Notes to reduce the interest rate from twelve percent (12%) to six percent (6%) per annum, to be accrued, and extends the maturity date from July 1, 2017 to July 25, 2022. Telos also entered into the Intercreditor Agreements with Porter and EnCap, in which the Porter Notes are fully subordinated to the Credit Agreement and any subsequent senior lenders (including Action Capital), and payments under the Porter Notes are permitted only if certain conditions are met. All other terms remain in full force and effect. We incurred interest expense in the amount of $78,000 and $229,000 for the three and nine months ended September 30, 2018, respectively, and $99,000 and $218,000 for the three and nine months ended September 30, 2017, respectively, on the Porter Notes. As a result of the amendment and restatement of the Porter Notes, we recorded a gain on extinguishment of debt of approximately $1 million, which consisted of the remeasurement of the debt at fair value. As the extinguishment was with a related party, the transaction was deemed to be a capital transaction and the gain was recorded in the Company's stockholders' deficit as of December 31, 2017.
XML 27 R17.htm IDEA: XBRL DOCUMENT v3.10.0.1
General and Basis of Presentation (Policies)
 9 Months Ended
Sep. 30, 2018
General and Basis of Presentation [Abstract]  
Segment Reporting
Segment Reporting
Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker ("CODM"), or decision making group, in deciding how to allocate resources and assess performance. We currently operate in one operating and reportable business segment for financial reporting purposes.  Our Chief Executive Officer is the CODM. The CODM only evaluates profitability based on consolidated results.
Recent Accounting Pronouncements
Recent Accounting Pronouncements

Recent Accounting Pronouncements Adopted
In May 2014, the Financial Accounting Standards Board ("FASB")  issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers," which requires an entity to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. In July 2015, the FASB finalized the delay of the effective date by one year, making the new standard effective for interim periods and annual period beginning after December 15, 2017. In March 2016, the FASB issued ASU 2016-08, "Revenues from Contract with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)," which clarifies the implementation guidance in ASU 2014-09 relating to principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10, "Revenue from Contracts with Customers (Topic 606) - Identifying Performance Obligations and Licensing," which further clarifies the implementation guidance relating to identifying performance obligations and the licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, "Revenue from Contracts with Customers (Topic 606):  Narrow Scope Improvements and Practical Expedients," which clarifies the implementation guidance related to collectability, presentation of sales tax, noncash consideration, contract modifications and completed contracts at transition. These standards can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. We adopted the standard on January 1, 2018 using the modified retrospective method, and reflecting cumulative changes in accumulated deficit.

As a result of the adoption of the ASC 606 standard on January 1, 2018, we determined that certain contractual arrangements required adjustment in order to appropriately reflect revenue recognition under the new standard.  For contracts for term-based license subscriptions that were in process at January 1, 2018, it was determined that the license was a distinct performance obligation where transfer of control of the license to the customer had occurred. Accordingly, the amount of revenue allocated to those performance obligations was reflected in the cumulative adjustment to our accumulated deficit in accordance with our election of the modified retrospective transition method as prescribed by the new standard.  This adjustment included two contracts for an aggregate cumulative adjustment to decrease accumulated deficit of $3.9 million, which adjusted contract liabilities by the same amount. The remaining performance obligations under the contracts were adjusted to reflect the adjusted allocation of the transaction price to these performance obligations. Additionally, upon adoption of the new standard it was determined that certain contractual arrangements for the provision of resold information technology products that had previously been accounted for on a gross revenue basis under the prior standard would appropriately be recognized on a net revenue basis and reflected in services revenue.  There were no contracts of this type in process that were included in the accumulated deficit adjustment.

In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230): Classification of certain cash receipts and cash payments," which intends to reduce the diversity in practice in how certain transactions are classified on the statement of cash flows. This standard will be effective retrospectively for interim and annual reporting periods beginning after December 31, 2017, and early adoption is permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In November 2016, the FASB issued ASU 2016-18, "Statement of Cash Flows (Topic 230) – Restricted Cash," which requires the presentation of changes in restricted cash or restricted cash equivalents on the statement of cash flows. This standard will be effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting," which amends the scope of modification accounting for share-based payment arrangements, provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. This ASU is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

Recent Accounting Pronouncements Not Yet Adopted
In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)." The guidance in this update supersedes the requirements in Accounting Standards Codification ("ASC") Topic 840, Leases. The update will require business entities to recognize lease assets and liabilities on the balance sheet and to disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. This update will be effective for interim and annual periods beginning after December 15, 2018, and is to be applied on a modified retrospective basis. In July 2018, the FASB issued ASU 2018-11, "Leases (Topic 842): Targeted Improvements", which provides an alternative modified retrospective transition method. Under this new transition method, an entity initially applies this new lease standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retaining earnings in the period of adoption.  The effective date of the amendments in this ASU related to transition are the same as the effective date for ASU 2016-02. We are currently assessing the impact the adoption of this ASU will have on our condensed consolidated financial position, results of operations and cash flows.  We expect to recognize increases in reported amounts for property and equipment, and related lease liabilities upon the adoption of this standard, and are still evaluating the impact it will have on results of operations.

In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," which introduces new guidance for estimating credit losses on certain types of financial instruments based on expected losses and the timing of the recognition of such losses. This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. While we are currently assessing the impact the adoption of this ASU will have on our condensed consolidated financial position, results of operations and cash flows, we do not believe the adoption of this ASU will have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which eliminates Step 2 of the current goodwill impairment test, which requires a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment loss will instead be measured at the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the recorded amount of goodwill. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted for any impairment test performed on testing dates after January 1, 2017. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement", which modifies the disclosure requirement for fair value measurement under ASC 820 to improve the effectiveness of such disclosures. Those modification include the removal and addition of disclosure requirement as well as clarifying specific disclosure requirements.  This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.

In August 2018, the FASB issued ASU No. 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract," which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software.  This standard will be effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The adoption of this ASU will not have a material impact on our condensed consolidated financial position, results of operations and cash flows.
Revenue Recognition
Revenue Recognition
We account for revenue in accordance with ASC Topic 606, "Revenue from Contracts with Customers." The unit of account in ASC 606 is a performance obligation, which is a promise, in a contract with a customer, to transfer a good or service to the customer. ASC 606 prescribes a five-step model for recognizing revenue that includes identifying the contract with the customer, determining the performance obligation(s), determining the transaction price, allocating the transaction price to the performance obligation(s), and recognizing revenue as the performance obligations are satisfied. Timing of the satisfaction of performance obligations varies across our businesses due to our diverse product and service mix, customer base, and contractual terms. Significant judgment can be required in determining certain performance obligations, and these determinations could change the amount of revenue and profit recorded in a given period.  Our contracts may have a single performance obligation or multiple performance obligations. When there are multiple performance obligations within a contract, we allocate the transaction price to each performance obligation based on our best estimate of standalone selling price.

We account for a contract after it has been approved by the parties to the contract, the rights and the payment terms of the parties are identified, the contract has commercial substance and collectability is probable, which is presumed for our U.S. Government customers and prime contractors for which we perform as subcontractors to U.S. Government end-customers.

The majority of our revenue is recognized over time, as control is transferred continuously to our customers who receive and consume benefits as we perform, and is classified as services revenue.  All of our business groups earn services revenue under a variety of contract types, including time and materials, firm-fixed price, firm fixed price level of effort, and cost plus fixed fee contract types, which may include variable consideration as discussed further below. Revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, material, subcontractor costs and indirect expenses. This continuous transfer of control to the customer is supported by clauses in our contracts with U.S. Government customers whereby the customer may terminate a contract for convenience and then pay for costs incurred plus a profit, at which time the customer would take control of any work in process. For non-U.S. Government contracts where we perform as a subcontractor and our order includes similar Federal Acquisition Regulation (the FAR) provisions as the prime contractor's order from the U.S. Government, continuous transfer of control is likewise supported by such provisions. For other non-U.S. Government customers, continuous transfer of control to such customers is also supported due to general terms in our contracts and rights to recover damages which would include, among other potential damages, the right to payment for our work performed to date plus a reasonable profit.

Due to the transfer of control over time, revenue is recognized based on progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the performance obligations. We generally use the cost-to-cost measure of progress on a proportional performance basis for our contracts because it best depicts the transfer of control to the customer which occurs as we incur costs on our contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. Due to the nature of the work required to be performed on certain of our performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment.  Contract estimates are based on various assumptions including labor and subcontractor costs, materials and other direct costs and the complexity of the work to be performed. A significant change in one or more of these estimates could affect the profitability of our contracts. We review and update our contract-related estimates regularly and recognize adjustments in estimated profit on contracts on a cumulative catch-up basis, which may result in an adjustment increasing or decreasing revenue to date on a contract in a particular period that the adjustment is identified. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate.

Revenue that is recognized at a point in time is for the sale of software licenses in our Cyber Operations and Defense ("CO&D") and IT & Enterprise Solutions business groups and for the sale of resold products in Telos ID and CO&D and is classified as product revenue.  Revenue on these contracts is recognized when the customer obtains control of the transferred product or service, which is generally upon delivery of the product to the customer for their use, due to us maintaining control of the product until that point. Orders for the sale of software licenses may contain multiple performance obligations, such as maintenance, training, or consulting services, which are typically delivered over time, consistent with the transfer of control disclosed above for the provision of services. When an order contains multiple performance obligations, we allocate the transaction price to the performance obligations using our best estimate of standalone selling price.

Contracts are routinely and often modified to account for changes in contract requirements, specifications, quantities, or price.  Depending on the nature of the modification, we determine whether to account for the modification as an adjustment to the existing contract or as a new contract.  Generally, modifications are not distinct from the existing contract due to the significant interrelatedness of the performance obligations and are therefore accounted for as an adjustment to the existing contract, and recognized as a cumulative adjustment to revenue (as either an increase or reduction of revenue) based on the modification's effect on progress toward completion of a performance obligation.

Our contracts may include various types of variable consideration, such as claims (for instance indirect rate or other equitable adjustments) or incentive fees. We include estimated amounts in the transaction price based on all of the information available to us, including historical information and future estimations, and to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when any uncertainty associated with the variable consideration is resolved. We have revised and re-submitted several years of incurred cost submissions reflecting certain indirect rate structure changes as a result of regular DCAA audits of incurred cost submissions. This resulted in signed final rate agreement letters for 2011 to 2013 and conformed incurred cost submissions for 2014 to 2015. We evaluated the resulting changes to revenue under the applicable cost plus fixed fee contracts for the years 2011 to 2015 as variable consideration, and determined the most likely amount to which we expect to be entitled, to the extent that no constraint exists that would preclude recognizing this revenue or result in a significant reversal of cumulative revenue recognized. We have included these estimated amounts of variable consideration in the transaction price and as performance on these contracts is complete, we have recognized revenue of $5.6 million in the current period.

Historically, most of our contracts do not include award or incentive fees. For incentive fees, we would include such fees in the transaction price to the extent we could reasonably estimate the amount of the fee.  With limited historical experience, we have not included any revenue related to incentive fees in our estimated transaction prices.  We may include in our contract estimates additional revenue for submitted contract modifications or claims against the customer when we believe we have an enforceable right to the modification or claim, the amount can be estimated reliably and its realization is probable. We consider the contractual/legal basis for the claim (in particular FAR provisions), the facts and circumstances around any additional costs incurred, the reasonableness of those costs and the objective evidence available to support such claims.

For our contracts that have an original duration of one year or less, we use the practical expedient applicable to such contracts and do not consider the time value of money. We capitalize sales commissions related to proprietary software and related services that are directly tied to sales. We do not elect the practical expedient to expense as incurred the incremental costs of obtaining a contract if the amortization period would have been one year or less. For the sales commissions that are capitalized, we amortize the asset over the expected customer life, which is based on recent and historical data.

Contract assets are amounts that are invoiced as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals or upon achievement of contractual milestones. Generally, revenue recognition occurs before billing, resulting in contract assets. These contract assets are referred to as unbilled receivables and are reported within accounts receivable, net of reserve on our condensed consolidated balance sheet.

Billed receivables are amounts billed and due from our customers that are classified as billed receivables and are reported within accounts receivable, net of reserve on the condensed consolidated balance sheet. The portion of the payments retained by the customer until final contract settlement is not considered a significant financing component due to the intent of the retainage being the customer's protection with respect to full and final performance under the contract.

Contract liabilities are payments received in advance and milestone payments from our customers on selected contracts that exceed revenue earned to date, resulting in contract liabilities. Contract liabilities typically are not considered a significant financing component because they are typically satisfied within one year and are used to meet working capital demands that can be higher in the early stages of a contract. Contract liabilities are reported on our condensed consolidated balance sheet on a net contract basis at the end of each reporting period.

We have one reportable segment. We treat sales to U.S. customers as sales within the U.S. regardless of where the services are performed. Substantially all of our revenues are from U.S. customers as international customers revenue is de minimus. The following tables disclose revenue (in thousands) by customer type and contract type for the periods presented.  Prior period amounts have not been adjusted under the modified retrospective method.

  
Three Months Ended September 30,
  
Nine Months Ended September 30,
 
  
2018
  
2017
  
2018
  
2017
 
             
Federal
 
$
32,784
  
$
26,358
  
$
95,354
  
$
68,040
 
State & Local, and Commercial
  
1,911
   
1,885
   
6,685
   
4,410
 
      Total
 
$
34,695
  
$
28,243
  
$
102,039
  
$
72,450
 

  
Three Months Ended September 30,
  
Nine Months Ended September 30,
 
  
2018
  
2017
  
2018
  
2017
 
             
Firm fixed-price
 
$
21,154
  
$
24,314
  
$
74,249
  
$
59,782
 
Time-and-materials
  
4,404
   
2,336
   
12,260
   
7,466
 
Cost plus fixed fee
  
9,137
   
1,593
   
15,530
   
5,202
 
      Total
 
$
34,695
  
$
28,243
  
$
102,039
  
$
72,450
 

The following table discloses contract receivables (in thousands):

  
September 30, 2018
  
January 1, 2018
  
December 31, 2017
 
Billed accounts receivable
 
$
10,485
  
$
11,736
  
$
11,736
 
Unbilled receivables
  
16,077
   
13,195
   
13,195
 
Allowance for doubtful accounts
  
(300
)
  
(411
)
  
(411
)
Receivables – net
 
$
26,262
  
$
24,520
  
$
24,520
 

The following table discloses contract liabilities (in thousands):

  
September 30, 2018
  
January 1, 2018
  
December 31, 2017
 
Contract liabilities
 
$
4,464
  
$
10,073
  
$
10,073
 

As of September 30, 2018, we had $91.1 million of remaining performance obligations, which we also refer to as funded backlog. We expect to recognize approximately 41.8% of our remaining performance obligations as revenue in 2018, an additional 56.4% by 2020 and the balance thereafter.
Accounts Receivable
Accounts Receivable
Accounts receivable are stated at the invoiced amount, less allowances for doubtful accounts. Collectability of accounts receivable is regularly reviewed based upon management's knowledge of the specific circumstances related to overdue balances. The allowance for doubtful accounts is adjusted based on such evaluation. Accounts receivable balances are written off against the allowance when management deems the balances uncollectible.

On July 15, 2016, the Company entered into an accounts receivable purchase agreement under which the Company sells certain accounts receivable to a third party, or the "Factor", without recourse to the Company. The Factor initially pays the Company 90% of U.S. Federal government receivables or 85% of certain commercial prime contractors. The remaining payment is deferred and based on the amount the Factor receives from our customer, less a discount fee and a program access fee that is determined by the amount of time the receivable is outstanding before payment. The structure of the transaction provides for a true sale of the receivables transferred. Accordingly, upon transfer of the receivable to the Factor, the receivable is removed from the Company's condensed consolidated balance sheet, a loss on the sale is recorded and the residual amount remains a deferred payment as an accounts receivable until payment is received from the Factor. The balance of the sold receivables may not exceed $10 million. During the three and nine months ended September 30, 2018, the Company sold approximately $6.0 million and $11.1 million of receivables, respectively, and recognized a related loss of approximately $21,000 and $39,000 in selling, general and administrative expenses, respectively, for the same period. During the three and nine months ended September 30, 2017, the Company sold approximately $13.9 million and $22.1 million of receivables, respectively, and recognized a related loss of approximately $49,000 and $78,000 in selling, general and administrative expenses, respectively, for the same period. As of September 30, 2018, the balance of the sold receivables was approximately $2.9 million, and the related deferred price was approximately $0.4 million. As of December 31, 2017, there were no outstanding sold receivables.
Inventories
Inventories
Inventories are stated at the lower of cost or net realizable value, where cost is determined on the weighted average method. Substantially all inventories consist of purchased commercial off-the-shelf hardware and software, and component computer parts used in connection with system integration services that we perform. An allowance for obsolete, slow-moving or nonsalable inventory is provided for all other inventory. This allowance is based on our overall obsolescence experience and our assessment of future inventory requirements. This charge is taken primarily due to the age of the specific inventory and the significant additional costs that would be necessary to upgrade to current standards as well as the lack of forecasted sales for such inventory in the near future. Gross inventory is $9.7 million and $15.0 million as of September 30, 2018 and December 31, 2017, respectively. As of September 30, 2018, it is management's judgment that we have fully provided for any potential inventory obsolescence, which was $0.9 million and $1.5 million as of September 30, 2018 and December 31, 2017, respectively.
Software Development Costs
Software Development Costs
Software development costs for software to be sold, leased or otherwise marketed are expensed as incurred until technological feasibility is reached, at which time additional costs are capitalized until the product is available for general release to customers. Technological feasibility is established when all planning, designing, coding and testing activities have been completed, and all risks have been identified.  Beginning with the second quarter of 2017, software development costs are capitalized and amortized over the estimated product life of 2 years on a straight-line basis. As of September 30, 2018, we capitalized $2.8 million of software development costs, which are included as a part of property and equipment. Amortization expense was $0.3 million and $0.7 million for the three and nine months ended September 30, 2018, respectively. Accumulated amortization was $0.9 million as of September 30, 2018. There was no amortization expense for the three and nine months ended September 30, 2017. The Company analyzes the net realizable value of capitalized software development costs on at least an annual basis and has determined that there is no indication of impairment of the capitalized software development costs as forecasted future sales are adequate to support amortization costs.
Income Taxes
Income Taxes
We account for income taxes in accordance with ASC 740-10, "Income Taxes."  Under ASC 740-10, deferred tax assets and liabilities are recognized for the estimated future tax consequences of temporary differences and income tax credits.  Deferred tax assets and liabilities are measured by applying enacted statutory tax rates that are applicable to the future years in which deferred tax assets or liabilities are expected to be settled or realized for differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities.  Any change in tax rates on deferred tax assets and liabilities is recognized in net income in the period in which the tax rate change is enacted.  We record a valuation allowance that reduces deferred tax assets when it is "more likely than not" that deferred tax assets will not be realized.  We are required to establish a valuation allowance for deferred tax assets if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on available evidence, realization of deferred tax assets is dependent upon the generation of future taxable income.  We considered projected future taxable income, tax planning strategies, and reversal of taxable temporary differences in making this assessment. As such, we have determined that a full valuation allowance is required as of September 30, 2018 and December 31, 2017. As a result of a full valuation allowance against our deferred tax assets, a deferred tax liability (hanging credit) related to goodwill remains on our condensed consolidated balance sheets at September 30, 2018 and December 31, 2017. Due to the tax reform enacted on December 22, 2017, net operating losses generated in taxable years beginning after December 31, 2017 will have an indefinite carryforward period, which will be available to offset future taxable income created by the reversal of temporary taxable differences related to goodwill. As a result, we have adjusted the valuation allowance on our deferred tax assets and liabilities at September 30, 2018 and December 31, 2017.

We follow the provisions of ASC 740-10 related to accounting for uncertainty in income taxes. The accounting estimates related to liabilities for uncertain tax positions require us to make judgments regarding the sustainability of each uncertain tax position based on its technical merits. If we determine it is more likely than not that a tax position will be sustained based on its technical merits, we record the impact of the position in our consolidated financial statements at the largest amount that is greater than fifty percent likely of being realized upon ultimate settlement. These estimates are updated at each reporting date based on the facts, circumstances and information available. We are also required to assess at each reporting date whether it is reasonably possible that any significant increases or decreases to our unrecognized tax benefits will occur during the next 12 months.

The provision for income taxes in interim periods is computed by applying the estimated annual effective tax rate against earnings before income tax expense for the period. In addition, non-recurring or discrete items are recorded during the period in which they occur.
Goodwill
Goodwill
We evaluate the impairment of goodwill and other intangible assets in accordance with ASC 350, "Intangibles - Goodwill and Other," which requires goodwill and indefinite-lived intangible assets to be assessed on at least an annual basis for impairment using a fair value basis. Between annual evaluations, if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount, then impairment must be evaluated. Such circumstances could include, but are not limited to: (1) a significant adverse change in legal factors or business climate, or (2) a loss of key contracts or customers.

As the result of an acquisition, we record any excess purchase price over the net tangible and identifiable intangible assets acquired as goodwill. An allocation of the purchase price to tangible and intangible net assets acquired is based upon our valuation of the acquired assets. Goodwill is not amortized, but is subject to annual impairment tests. We complete our goodwill impairment tests as of December 31st each year. Additionally, we make evaluations between annual tests if events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The evaluation is based on the estimation of the fair values of our three reporting units, CO&D, Identity Management, and IT and Enterprise Solutions, of which goodwill is housed in the CO&D reporting unit, in comparison to the reporting unit's net asset carrying values. Our discounted cash flows required management judgment with respect to forecasted revenue streams and operating margins, capital expenditures and the selection and use of an appropriate discount rate. We utilized the weighted average cost of capital as derived by certain assumptions specific to our facts and circumstances as the discount rate. The net assets attributable to the reporting units are determined based upon the estimated assets and liabilities attributable to the reporting units in deriving its free cash flows. In addition, the estimate of the total fair value of our reporting units is compared to the market capitalization of the Company. The Company's assessment resulted in a fair value that was greater than the Company's carrying value, therefore the second step of the impairment test, as prescribed by the authoritative literature, was not required to be performed and no impairment of goodwill was recorded as of  December 31, 2017. There were no triggering events which would require goodwill impairment consideration during the quarter. Subsequent reviews may result in future periodic impairments that could have a material adverse effect on the results of operations in the period recognized. Certain negative potential events, such as a material loss or losses on contracts, or failure to achieve projected growth could result in impairment in the future. We estimate fair value of our reporting unit and compare the valuation with the respective carrying value for the reporting unit to determine whether any goodwill impairment exists. If we determine through the impairment review process that goodwill is impaired, we will record an impairment charge in our consolidated statements of operations. Goodwill is amortized and deducted over a 15-year period for tax purposes.
Stock-Based Compensation
Stock-Based Compensation
Compensation cost is recognized based on the requirements of ASC 718, "Stock Compensation," for all share-based awards granted. Since June 2008, we have issued restricted stock (Class A common) to our executive officers, directors and employees. To date, there have been no grants in 2018. In May 2017, we granted 5,005,000 shares of restricted stock to our executive officers and employees. Such stock is subject to a vesting schedule as follows:  25% of the restricted stock vests immediately on the date of grant, thereafter, an additional 25% will vest annually on the anniversary of the date of grant subject to continued employment or services. As of September 30, 2018, there were 2,457,500 shares of restricted stock that remained subject to vesting. In the event of death of the employee or a change in control, as defined by the Telos Corporation 2008 Omnibus Long-Term Incentive Plan, the 2013 Omnibus Long-Term Incentive Plan, or the 2016 Omnibus Long-Term Incentive Plan, all unvested shares shall automatically vest in full. In accordance with ASC 718, we recorded immaterial compensation expense for any of the issuances as the value of our common stock was nominal, based on the deduction of our outstanding debt, capital lease obligations, and preferred stock from an estimated enterprise value, which was estimated based on discounted cash flow analysis, comparable public company analysis, and comparable transaction analysis.  Additionally, we determined that a significant change in the valuation estimate for common stock would not have a significant effect on the condensed consolidated financial statements.
Other Comprehensive Income
Other Comprehensive Income
Our functional currency is the U.S. Dollar. For one of our wholly owned subsidiaries, the functional currency is the local currency. For this subsidiary, the translation of its foreign currency into U.S. Dollars is performed for assets and liabilities using current foreign currency exchange rates in effect at the balance sheet date and for revenue and expense accounts using average foreign currency exchange rates during the period. Translation gains and losses are included in stockholders' deficit as a component of accumulated other comprehensive income.

Accumulated other comprehensive income included within stockholders' deficit consists of the following (in thousands):

  
September 30, 2018
  
December 31, 2017
 
Cumulative foreign currency translation loss
 
$
(84
)
 
$
(75
)
Cumulative actuarial gain on pension liability adjustment
  
107
   
107
 
Accumulated other comprehensive income
 
$
23
  
$
32
 
XML 28 R18.htm IDEA: XBRL DOCUMENT v3.10.0.1
General and Basis of Presentation (Tables)
 9 Months Ended
Sep. 30, 2018
General and Basis of Presentation [Abstract]  
Disaggregation of Revenue
We have one reportable segment. We treat sales to U.S. customers as sales within the U.S. regardless of where the services are performed. Substantially all of our revenues are from U.S. customers as international customers revenue is de minimus. The following tables disclose revenue (in thousands) by customer type and contract type for the periods presented.  Prior period amounts have not been adjusted under the modified retrospective method.

  
Three Months Ended September 30,
  
Nine Months Ended September 30,
 
  
2018
  
2017
  
2018
  
2017
 
             
Federal
 
$
32,784
  
$
26,358
  
$
95,354
  
$
68,040
 
State & Local, and Commercial
  
1,911
   
1,885
   
6,685
   
4,410
 
      Total
 
$
34,695
  
$
28,243
  
$
102,039
  
$
72,450
 

  
Three Months Ended September 30,
  
Nine Months Ended September 30,
 
  
2018
  
2017
  
2018
  
2017
 
             
Firm fixed-price
 
$
21,154
  
$
24,314
  
$
74,249
  
$
59,782
 
Time-and-materials
  
4,404
   
2,336
   
12,260
   
7,466
 
Cost plus fixed fee
  
9,137
   
1,593
   
15,530
   
5,202
 
      Total
 
$
34,695
  
$
28,243
  
$
102,039
  
$
72,450
 
Contract Assets and Liabilities
The following table discloses contract receivables (in thousands):

  
September 30, 2018
  
January 1, 2018
  
December 31, 2017
 
Billed accounts receivable
 
$
10,485
  
$
11,736
  
$
11,736
 
Unbilled receivables
  
16,077
   
13,195
   
13,195
 
Allowance for doubtful accounts
  
(300
)
  
(411
)
  
(411
)
Receivables – net
 
$
26,262
  
$
24,520
  
$
24,520
 

The following table discloses contract liabilities (in thousands):

  
September 30, 2018
  
January 1, 2018
  
December 31, 2017
 
Contract liabilities
 
$
4,464
  
$
10,073
  
$
10,073
 
Accumulated Other Comprehensive Income
Accumulated other comprehensive income included within stockholders' deficit consists of the following (in thousands):

  
September 30, 2018
  
December 31, 2017
 
Cumulative foreign currency translation loss
 
$
(84
)
 
$
(75
)
Cumulative actuarial gain on pension liability adjustment
  
107
   
107
 
Accumulated other comprehensive income
 
$
23
  
$
32
 
XML 29 R19.htm IDEA: XBRL DOCUMENT v3.10.0.1
Non-controlling Interests (Tables)
 9 Months Ended
Sep. 30, 2018
Non-controlling Interests [Abstract]  
Changes in Non-Controlling Interest
The following table details the changes in non-controlling interest for the three and nine months ended September 30, 2018 and 2017 (in thousands):

  
Three Months Ended September 30,
  
Nine Months Ended September 30,
 
  
2018
  
2017
  
2018
  
2017
 
Non-controlling interest, beginning of period
 
$
773
  
$
235
  
$
913
  
$
2,229
 
Net income
  
715
   
1,078
   
1,480
   
1,430
 
Distributions
  
(233
)
  
(227
)
  
(1,138
)
  
(2,573
)
Non-controlling interest, end of period
 
$
1,255
  
$
1,086
  
$
1,255
  
$
1,086
 
XML 30 R20.htm IDEA: XBRL DOCUMENT v3.10.0.1
Current Liabilities and Debt Obligations (Tables)
 9 Months Ended
Sep. 30, 2018
Current Liabilities and Debt Obligations [Abstract]  
Carrying Amount of the Credit Agreement
The carrying amount of the Credit Agreement consisted of the following (in thousands):

  
September 30, 2018
  
December 31, 2017
 
Senior term loan, including exit fee
 
$
11,825
  
$
11,825
 
Less:  Unamortized discount, debt issuance costs, and lender fees
  
(894
)
  
(1,039
)
Senior term loan, net
 
$
10,931
  
$
10,786
 
XML 31 R21.htm IDEA: XBRL DOCUMENT v3.10.0.1
General and Basis of Presentation (Details)
 1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
May 31, 2017
shares
Sep. 30, 2018
USD ($)
shares
Sep. 30, 2017
USD ($)
Sep. 30, 2018
USD ($)
Segment
Unit
shares
Sep. 30, 2017
USD ($)
Dec. 31, 2017
USD ($)
Segment Reporting [Abstract]            
Number of reportable segments | Segment       1    
Disaggregation of Revenue [Abstract]            
Revenue   $ 34,695,000 $ 28,243,000 $ 102,039,000 $ 72,450,000  
Components of Accounts Receivable [Abstract]            
Billed accounts receivable   10,485,000   10,485,000   $ 11,736,000
Unbilled receivables   16,077,000   16,077,000   13,195,000
Allowance for doubtful accounts   (300,000)   (300,000)   (411,000)
Receivables - net   26,262,000   26,262,000   24,520,000
Contract with Customer, Liability [Abstract]            
Contract liabilities   4,464,000   4,464,000   10,073,000
Revenue, Performance Obligation [Abstract]            
Remaining performance obligation   91,100,000   $ 91,100,000    
Accounts Receivable [Abstract]            
Percentage of initial payment by factor of U.S. Federal government receivables       90.00%    
Percentage of initial payment by factor of commercial prime contractors       85.00%    
Maximum limit of sold receivables       $ 10,000,000    
Sold receivables during the period   6,000,000 13,900,000 11,100,000 22,100,000  
Loss recognized in selling, general and administrative expenses   21,000 49,000 39,000 78,000  
Balance of sold receivables       2,900,000   0
Deferred price related to sold receivables       400,000    
Inventories [Abstract]            
Gross inventory   9,700,000   9,700,000   15,000,000
Inventory valuation reserves   916,000   916,000   1,484,000
Software Development Costs [Abstract]            
Capitalized software development costs   2,800,000   $ 2,800,000    
Software development estimated useful life       2 years    
Amortization expense   300,000 0 $ 700,000    
Accumulated amortization   900,000   $ 900,000    
Goodwill [Abstract]            
Number of reporting units | Unit       3    
Goodwill amortization period for income tax purposes       15 years    
Accumulated Other Comprehensive Income [Abstract]            
Cumulative foreign currency translation loss   (84,000)   $ (84,000)   (75,000)
Cumulative actuarial gain on pension liability adjustment   107,000   107,000   107,000
Accumulated other comprehensive income   23,000   23,000   32,000
ASC 606 [Member]            
Revenue from Contract with Customer [Abstract]            
Contract liabilities   (3,900,000)   (3,900,000)    
Revenue accruals for multiple contracts as a result of cumulative indirect rate adjustments   5,600,000        
Components of Accounts Receivable [Abstract]            
Billed accounts receivable           11,736,000
Unbilled receivables           13,195,000
Allowance for doubtful accounts           (411,000)
Receivables - net           24,520,000
Contract with Customer, Liability [Abstract]            
Contract liabilities           $ 10,073,000
Firm Fixed-Price [Member]            
Disaggregation of Revenue [Abstract]            
Revenue   21,154,000 24,314,000 74,249,000 59,782,000  
Time-and-Materials [Member]            
Disaggregation of Revenue [Abstract]            
Revenue   4,404,000 2,336,000 12,260,000 7,466,000  
Cost Plus Fixed Fee [Member]            
Disaggregation of Revenue [Abstract]            
Revenue   $ 9,137,000 1,593,000 $ 15,530,000 5,202,000  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01            
Revenue, Performance Obligation [Abstract]            
Remaining performance obligation percentage   41.80%   41.80%    
Remaining performance obligation, expected timing of satisfaction, period   3 months   3 months    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01            
Revenue, Performance Obligation [Abstract]            
Remaining performance obligation percentage   56.40%   56.40%    
Remaining performance obligation, expected timing of satisfaction, period   1 year   1 year    
Federal [Member]            
Disaggregation of Revenue [Abstract]            
Revenue   $ 32,784,000 26,358,000 $ 95,354,000 68,040,000  
State & Local, and Commercial [Member]            
Disaggregation of Revenue [Abstract]            
Revenue   $ 1,911,000 $ 1,885,000 $ 6,685,000 $ 4,410,000  
Restricted Stock Grants [Member]            
Restricted Stock Grants [Abstract]            
Restricted stock remained subject to vesting (in shares) | shares   2,457,500   2,457,500    
Restricted stock vested on date of grant       25.00%    
Restricted stock vest on anniversary of the date of grant       25.00%    
Restricted Stock Grants [Member] | Executive Officers and Employees [Member]            
Restricted Stock Grants [Abstract]            
Restricted stock issued during the period (in shares) | shares 5,005,000          
XML 32 R22.htm IDEA: XBRL DOCUMENT v3.10.0.1
Non-controlling Interests (Details)
 3 Months Ended 9 Months Ended
Dec. 24, 2014
USD ($)
Director
Class
Apr. 20, 2007
USD ($)
Apr. 19, 2007
Sep. 30, 2018
USD ($)
Sep. 30, 2017
USD ($)
Sep. 30, 2018
USD ($)
Sep. 30, 2017
USD ($)
Apr. 11, 2007
USD ($)
Changes in non-controlling interest [Abstract]                
Non-controlling interest, beginning of period       $ 773,000 $ 235,000 $ 913,000 $ 2,229,000  
Net income       715,000 1,078,000 1,480,000 1,430,000  
Distributions       (233,000) (227,000) (1,138,000) (2,573,000)  
Non-controlling interest, end of period       $ 1,255,000 $ 1,086,000 $ 1,255,000 $ 1,086,000  
Telos ID [Member]                
Net book value of assets [Abstract]                
Net book value of assets contributed               $ 17,000
Percentage of membership interest owned before     99.999%          
Cash consideration received on sale of membership interest $ 5,000,000 $ 6,000,000            
Recognized gain on sale of membership interests to the Investors   $ 5,800,000            
Percentage of membership interest sold to investor 10.00% 39.999%            
Percentage of ownership interest owned after transaction   60.00%            
Number of members in board of director | Director 5              
Number of classes of membership units | Class 2              
Telos ID [Member] | Class A Membership Unit [Member]                
Net book value of assets [Abstract]                
Percentage of ownership interest owned after transaction 50.00%              
Percentage of profit and loss allocated 50.00%              
Number of directors entitled to appoint | Director 3              
Percentage of outstanding voting securities 51.00%              
Telos ID [Member] | Class B Membership Unit [Member]                
Net book value of assets [Abstract]                
Percentage of ownership interest owned after transaction 50.00%              
Percentage of profit and loss allocated 50.00%              
Number of directors entitled to appoint | Director 2              
Percentage of ownership interests 50.00%              
Telos ID [Member] | Investors [Member]                
Net book value of assets [Abstract]                
Owned membership interest from private equity investors     0.001%          
XML 33 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1
Goodwill (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2018
Dec. 31, 2017
Goodwill [Abstract]    
Goodwill $ 14,916 $ 14,916
Asset impairment charges $ 0  
XML 34 R24.htm IDEA: XBRL DOCUMENT v3.10.0.1
Fair Value Measurements (Details) - Public Preferred Stock [Member] - USD ($)
$ / shares in Units, $ in Millions
 9 Months Ended 12 Months Ended
Sep. 30, 2018
Dec. 31, 1991
Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Abstract]      
Preferred stock dividend rate per annum 12.00% 6.00%  
Public preferred stock par value (in dollar per share) $ 0.01    
Carrying (Reported) Amount, Fair Value Disclosure [Member]      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Abstract]      
Public preferred stock $ 134.4   $ 131.6
Estimate of Fair Value, Fair Value Disclosure [Member]      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Abstract]      
Public preferred stock $ 41.2   $ 42.2
XML 35 R25.htm IDEA: XBRL DOCUMENT v3.10.0.1
Current Liabilities and Debt Obligations, Enlightenment Capital Credit Agreement (Details) - USD ($)
 3 Months Ended 9 Months Ended
Jan. 25, 2017
Mar. 31, 2015
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Apr. 18, 2017
Accounts Payable and Other Accrued Payables [Abstract]                
Trade account payables     $ 16,900,000   $ 16,900,000   $ 15,400,000  
Accrued trade payables     3,000,000   3,000,000   10,300,000  
Long-term Debt [Abstract]                
Senior term loan principal, including exit fee     11,825,000   11,825,000   11,825,000  
Less: Unamortized discount, debt issuance costs, and lender fees     (894,000)   (894,000)   (1,039,000)  
Senior term loan, net     10,931,000   10,931,000   $ 10,786,000  
Interest expense     $ 400,000 $ 400,000        
Credit Agreement [Member]                
Enlightenment Capital Credit Agreement [Abstract]                
Increase in interest rate     1.00%          
Credit agreement exit fee     $ 825,000   $ 825,000      
Effective interest rate     15.00%   15.00%      
Credit agreement transaction costs         $ 374,000      
Long-term Debt [Abstract]                
Interest expense         $ 1,300,000 $ 1,100,000    
Porter [Member]                
Enlightenment Capital Credit Agreement [Abstract]                
Maturity date   Jul. 01, 2017     Jul. 25, 2022      
Aggregate redemption price               $ 2,112,000
Enlightenment Capital Solutions Fund, II L.P. [Member] | Class A Common Stock [Member]                
Enlightenment Capital Credit Agreement [Abstract]                
Warrants issued to purchase shares of common stock (in shares) 1,135,284.333              
Common stock par value (in dollars per share) $ 0              
Percentage of warrants issued of common equity interests 2.50%              
Warrants exercise price (in dollars per share) $ 1.321              
Warrants expiration date         Jan. 25, 2027      
Emmett J. Wood [Member] | Class A Common Stock [Member]                
Long-term Debt [Abstract]                
Number of shares held by related party (in shares)     810,000   810,000      
Emmett J. Wood [Member] | Class A Common Stock [Member] | Credit Agreement [Member]                
Long-term Debt [Abstract]                
Number of shares held by related party (in shares)     50,000   50,000      
Term Loan [Member] | Enlightenment Capital Solutions Fund, II L.P. [Member]                
Enlightenment Capital Credit Agreement [Abstract]                
Senior term loan $ 11,000,000              
Maturity date         Jan. 25, 2022      
Accrual rate 13.00%              
Increase in interest rate 14.50%              
Increase in interest rate in event of default 2.00%              
Monthly accrued interest rate 10.00%              
Monthly accrued interest rate during continuance of an Alternate Interest Rate Event 11.50%              
Number of days prior written notice         30 days      
Proceeds from loan prepayment $ 1,100,000              
XML 36 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1
Current Liabilities and Debt Obligations, Accounts Receivable Purchase Agreement & Financing and Security Agreement (Details) - USD ($)
 9 Months Ended
Jul. 15, 2016
Sep. 30, 2018
Republic Capital Access LLC [Member] | Accounts Receivable Purchase Agreement [Member]    
Accounts Receivable Purchase Agreement [Abstract]    
Limit of outstanding purchased receivables $ 10,000,000  
Automatic renewal term   12 months
Percentage of initial purchase price of purchased receivable 85.00%  
Residual percentage of purchased receivable 15.00%  
Percentage of discount factor for federal government prime contracts 0.30%  
Percentage of discount factor for non-federal government investment grade account obligors 0.56%  
Percentage of discount factor for non-federal government non-investment grade account obligors 0.62%  
Percentage of program access fee 0.008%  
Percentage of commitment fee 1.00%  
Republic Capital Access LLC [Member] | US Government Agency [Member] | Accounts Receivable Purchase Agreement [Member]    
Accounts Receivable Purchase Agreement [Abstract]    
Percentage of initial purchase price of purchased receivable 90.00%  
Residual percentage of purchased receivable 10.00%  
Action Capital Corporation [Member] | Financing and Security Agreement [Member]    
Financing and Security Agreement [Abstract]    
Percentage of advances 90.00%  
Maximum outstanding principal amount of advances $ 5,000,000  
Financing agreement term   2 years
Percentage of monthly fee 0.50%  
Outstanding borrowing of credit facility   $ 0
Action Capital Corporation [Member] | Prime Rate [Member] | Financing and Security Agreement [Member]    
Financing and Security Agreement [Abstract]    
Percentage added to reference rate to compute the variable rate 2.00%  
XML 37 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
Current Liabilities and Debt Obligations, Subordinated Debt (Details) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2015
Sep. 30, 2018
Sep. 30, 2017
Mar. 31, 2015
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Apr. 18, 2017
Subordinated Debt [Abstract]                
Gain on extinguishment of subordinated debt         $ 0 $ 1,031,000    
Porter [Member]                
Subordinated Debt [Abstract]                
Related party ownership percentage 35.00%     35.00%        
Proceeds from related party, debt       $ 2,500,000        
Interest expense, related party   $ 78,000 $ 99,000   $ 229,000 $ 218,000    
Debt instrument, fixed interest rate 12.00%     12.00%       6.00%
Debt instrument, first interest payment due date         Aug. 20, 2015      
Debt instrument, last principal and interest payment date Jul. 01, 2017       Jul. 25, 2022      
Gain on extinguishment of subordinated debt             $ 1,000,000  
XML 38 R28.htm IDEA: XBRL DOCUMENT v3.10.0.1
Redeemable Preferred Stock (Details) - Public Preferred Stock [Member]
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Nov. 30, 1998
shares
Sep. 30, 2018
USD ($)
$ / shares
shares
Jun. 30, 2006
USD ($)
Sep. 30, 2018
USD ($)
Tranche
$ / shares
shares
Dec. 31, 1991
$ / shares
shares
Dec. 31, 2017
USD ($)
Dec. 31, 1990
shares
Preferred stock [Abstract]              
Preferred stock authorized (in shares)   6,000,000   6,000,000      
Preferred stock par value (in dollar per share) | $ / shares   $ 0.01   $ 0.01      
Preferred stock dividend rate per annum       12.00% 6.00%    
Dividends Payable | $   $ 102.6   $ 102.6   $ 99.7  
Preferred stock issued and outstanding (in shares)   3,185,586   3,185,586      
Preferred stock issued (in shares)             2,858,723
12% Cumulative Exchangeable Redeemable Preferred Stock [Abstract]              
Adjusted accrued accretion of public preferred stock | $     $ 1.5        
Number of shares declared as dividend (in shares)         736,863    
Number of annual tranches during the period | Tranche       5      
Period during which redeemable preferred stock not callable       12 months      
Preferred stock dividend rate per annum (in dollars per share) | $ / shares       $ 1.20 $ 0.60    
Preferred stock, liquidation preference (in dollars per share) | $ / shares   $ 10   $ 10      
Dividends on preferred stock | $   $ 1.0   $ 2.9      
Redemption of public preferred stock (in shares) 410,000            
XML 39 R29.htm IDEA: XBRL DOCUMENT v3.10.0.1
Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Income Taxes [Abstract]          
U.S. federal corporate tax rate     21.00%   35.00%
Income tax provision $ 106 $ (211) $ 41 $ (529)  
Deferred income taxes (Note 7) 779   779   $ 741
Unrecognized tax benefits 700   700   677
Interest and penalties $ 289   $ 289   $ 266
XML 40 R30.htm IDEA: XBRL DOCUMENT v3.10.0.1
Commitments and Contingencies (Details) - USD ($)
$ in Millions
Sep. 30, 2018
Dec. 31, 2017
Financial Condition and Liquidity [Abstract]    
Working capital $ 4.0 $ (4.1)
Costa Brava [Member]    
Legal proceedings [Abstract]    
Percentage of public preferred stock owned 12.70%  
Wynnefield [Member]    
Legal proceedings [Abstract]    
Percentage of public preferred stock owned 17.40%  
XML 41 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions (Details) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2015
Sep. 30, 2018
Sep. 30, 2017
Mar. 31, 2015
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Apr. 18, 2017
Related party transactions compensation [Abstract]                
Gain on extinguishment of subordinated debt         $ 0 $ 1,031,000    
Emmett J. Wood [Member]                
Related party transactions compensation [Abstract]                
Compensation to related parties   $ 106,000 $ 77,000   $ 392,000 420,000    
Emmett J. Wood [Member] | Class A Common Stock [Member]                
Related party transactions compensation [Abstract]                
Number of shares held by related party (in shares)   810,000     810,000      
Emmett J. Wood [Member] | Class B Common Stock [Member]                
Related party transactions compensation [Abstract]                
Number of shares held by related party (in shares)   50,000     50,000      
Porter [Member]                
Related party transactions compensation [Abstract]                
Proceeds from related party, debt       $ 2,500,000        
Debt instrument, fixed interest rate 12.00%     12.00%       6.00%
Debt instrument, first interest payment due date         Aug. 20, 2015      
Debt instrument, last principal and interest payment date Jul. 01, 2017       Jul. 25, 2022      
Interest expense, related party   $ 78,000 $ 99,000   $ 229,000 $ 218,000    
Gain on extinguishment of subordinated debt             $ 1,000,000  
Porter [Member] | Class A Common Stock [Member]                
Related party transactions compensation [Abstract]                
Percentage of shares owned 35.00%     35.00%        
EXCEL 42 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 43 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 44 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 46 FilingSummary.xml IDEA: XBRL DOCUMENT 3.10.0.1 html 170 220 1 false 39 0 false 9 false false R1.htm 000100 - Document - Document and Entity Information Sheet http://telos.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 010000 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Sheet http://telos.com/role/CondensedConsolidatedStatementsOfOperationsUnaudited CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Statements 2 false false R3.htm 020000 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) Sheet http://telos.com/role/CondensedConsolidatedStatementsOfComprehensiveIncomeLossUnaudited CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) Statements 3 false false R4.htm 030000 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) Sheet http://telos.com/role/CondensedConsolidatedBalanceSheetsUnaudited CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) Statements 4 false false R5.htm 030100 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) Sheet http://telos.com/role/CondensedConsolidatedBalanceSheetsUnauditedParenthetical CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) Statements 5 false false R6.htm 040000 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Sheet http://telos.com/role/CondensedConsolidatedStatementsOfCashFlowsUnaudited CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Statements 6 false false R7.htm 050000 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT (Unaudited) Sheet http://telos.com/role/CondensedConsolidatedStatementsOfChangesInStockholdersDeficitUnaudited CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT (Unaudited) Statements 7 false false R8.htm 060100 - Disclosure - General and Basis of Presentation Sheet http://telos.com/role/GeneralAndBasisOfPresentation General and Basis of Presentation Notes 8 false false R9.htm 060200 - Disclosure - Non-controlling Interests Sheet http://telos.com/role/NoncontrollingInterests Non-controlling Interests Notes 9 false false R10.htm 060300 - Disclosure - Goodwill Sheet http://telos.com/role/Goodwill Goodwill Notes 10 false false R11.htm 060400 - Disclosure - Fair Value Measurements Sheet http://telos.com/role/FairValueMeasurements Fair Value Measurements Notes 11 false false R12.htm 060500 - Disclosure - Current Liabilities and Debt Obligations Sheet http://telos.com/role/CurrentLiabilitiesAndDebtObligations Current Liabilities and Debt Obligations Notes 12 false false R13.htm 060600 - Disclosure - Redeemable Preferred Stock Sheet http://telos.com/role/RedeemablePreferredStock Redeemable Preferred Stock Notes 13 false false R14.htm 060700 - Disclosure - Income Taxes Sheet http://telos.com/role/IncomeTaxes Income Taxes Notes 14 false false R15.htm 060800 - Disclosure - Commitments and Contingencies Sheet http://telos.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 15 false false R16.htm 060900 - Disclosure - Related Party Transactions Sheet http://telos.com/role/RelatedPartyTransactions Related Party Transactions Notes 16 false false R17.htm 070100 - Disclosure - General and Basis of Presentation (Policies) Sheet http://telos.com/role/GeneralAndBasisOfPresentationPolicies General and Basis of Presentation (Policies) Policies 17 false false R18.htm 080100 - Disclosure - General and Basis of Presentation (Tables) Sheet http://telos.com/role/GeneralAndBasisOfPresentationTables General and Basis of Presentation (Tables) Tables http://telos.com/role/GeneralAndBasisOfPresentation 18 false false R19.htm 080200 - Disclosure - Non-controlling Interests (Tables) Sheet http://telos.com/role/NoncontrollingInterestsTables Non-controlling Interests (Tables) Tables http://telos.com/role/NoncontrollingInterests 19 false false R20.htm 080501 - Disclosure - Current Liabilities and Debt Obligations (Tables) Sheet http://telos.com/role/CurrentLiabilitiesAndDebtObligationsTables Current Liabilities and Debt Obligations (Tables) Tables http://telos.com/role/CurrentLiabilitiesAndDebtObligations 20 false false R21.htm 090100 - Disclosure - General and Basis of Presentation (Details) Sheet http://telos.com/role/GeneralAndBasisOfPresentationDetails General and Basis of Presentation (Details) Details http://telos.com/role/GeneralAndBasisOfPresentationTables 21 false false R22.htm 090200 - Disclosure - Non-controlling Interests (Details) Sheet http://telos.com/role/NoncontrollingInterestsDetails Non-controlling Interests (Details) Details http://telos.com/role/NoncontrollingInterestsTables 22 false false R23.htm 090300 - Disclosure - Goodwill (Details) Sheet http://telos.com/role/GoodwillDetails Goodwill (Details) Details http://telos.com/role/Goodwill 23 false false R24.htm 090400 - Disclosure - Fair Value Measurements (Details) Sheet http://telos.com/role/FairValueMeasurementsDetails Fair Value Measurements (Details) Details http://telos.com/role/FairValueMeasurements 24 false false R25.htm 090500 - Disclosure - Current Liabilities and Debt Obligations, Enlightenment Capital Credit Agreement (Details) Sheet http://telos.com/role/CurrentLiabilitiesAndDebtObligationsEnlightenmentCapitalCreditAgreementDetails Current Liabilities and Debt Obligations, Enlightenment Capital Credit Agreement (Details) Details 25 false false R26.htm 090502 - Disclosure - Current Liabilities and Debt Obligations, Accounts Receivable Purchase Agreement & Financing and Security Agreement (Details) Sheet http://telos.com/role/CurrentLiabilitiesAndDebtObligationsAccountsReceivablePurchaseAgreementFinancingAndSecurityAgreementDetails Current Liabilities and Debt Obligations, Accounts Receivable Purchase Agreement & Financing and Security Agreement (Details) Details 26 false false R27.htm 090504 - Disclosure - Current Liabilities and Debt Obligations, Subordinated Debt (Details) Sheet http://telos.com/role/CurrentLiabilitiesAndDebtObligationsSubordinatedDebtDetails Current Liabilities and Debt Obligations, Subordinated Debt (Details) Details 27 false false R28.htm 090600 - Disclosure - Redeemable Preferred Stock (Details) Sheet http://telos.com/role/RedeemablePreferredStockDetails Redeemable Preferred Stock (Details) Details http://telos.com/role/RedeemablePreferredStock 28 false false R29.htm 090700 - Disclosure - Income Taxes (Details) Sheet http://telos.com/role/IncomeTaxesDetails Income Taxes (Details) Details http://telos.com/role/IncomeTaxes 29 false false R30.htm 090800 - Disclosure - Commitments and Contingencies (Details) Sheet http://telos.com/role/CommitmentsAndContingenciesDetails Commitments and Contingencies (Details) Details http://telos.com/role/CommitmentsAndContingencies 30 false false R31.htm 090900 - Disclosure - Related Party Transactions (Details) Sheet http://telos.com/role/RelatedPartyTransactionsDetails Related Party Transactions (Details) Details http://telos.com/role/RelatedPartyTransactions 31 false false All Reports Book All Reports tlsrp-20180930.xml tlsrp-20180930.xsd tlsrp-20180930_cal.xml tlsrp-20180930_def.xml tlsrp-20180930_lab.xml tlsrp-20180930_pre.xml http://fasb.org/srt/2018-01-31 http://xbrl.sec.gov/dei/2018-01-31 http://fasb.org/us-gaap/2018-01-31 http://xbrl.sec.gov/invest/2013-01-31 true true ZIP 48 0000320121-18-000026-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000320121-18-000026-xbrl.zip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�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�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

  •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�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end