| Summary of financial information of reportable segments |
The tables below present financial information of our reportable segments (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Three Months Ended | | March 29, 2026 | | March 30, 2025 | | GSG | | CIG | | Total | | GSG | | CIG | | Total | | | | | | | | | | Revenue from external customers | $ | 551,364 | | | $ | 668,793 | | | $ | 1,220,157 | | | $ | 693,645 | | | $ | 628,468 | | | $ | 1,322,113 | | | Inter-segment revenue | 7,987 | | | 7,330 | | | 15,317 | | | 5,228 | | | 9,218 | | | 14,446 | | | Segment revenue | 559,351 | | | 676,123 | | | 1,235,474 | | | 698,873 | | | 637,686 | | | 1,336,559 | | | | | | | | | | | | | | | Elimination of inter-segment revenue | | | | | (15,317) | | | | | | | (14,446) | | | Total consolidated revenue | | | | | 1,220,157 | | | | | | | 1,322,113 | | | | | | | | | | | | | | | | | | | | | | | | | | | Subcontractor costs - external | (93,558) | | | (76,966) | | | (170,524) | | | (125,350) | | | (93,058) | | | (218,408) | | | Subcontractor costs - inter-segment | (7,330) | | | (7,987) | | | (15,317) | | | (9,218) | | | (5,228) | | | (14,446) | | | Segment subcontractor costs | (100,888) | | | (84,953) | | | (185,841) | | | (134,568) | | | (98,286) | | | (232,854) | | | | | | | | | | | | | | | Elimination of inter-segment subcontractor costs | | | | | 15,317 | | | | | | | 14,446 | | | Total consolidated subcontractor costs | | | | | (170,524) | | | | | | | (218,408) | | | | | | | | | | | | | | | | | | | | | | | | | | Other segment items (1) | (383,610) | | | (519,117) | | | (902,727) | | | (484,529) | | | (470,302) | | | (954,831) | | | Segment operating income | 74,853 | | | 72,053 | | | 146,906 | | | 79,776 | | | 69,098 | | | 148,874 | | | | | | | | | | | | | | | Reconciliation of profit (segment operating income): | | | | | | | | | | | | | Other non-operating income | | | | | 4,651 | | | | | | | — | | | Impairment of goodwill | | | | | — | | | | | | | (92,416) | | | Contingent consideration - fair value adjustments | | | | | 58 | | | | | | | 1,931 | | | Interest expense, net | | | | | (8,838) | | | | | | | (8,491) | | Other corporate expenses (2) | | | | | (15,441) | | | | | | | (18,786) | | | Income before income tax expense | | | | | $ | 127,336 | | | | | | | $ | 31,112 | | | | | | | | | | | | | | | | | | | | | | | | | | (1) These amounts include $0.8 million and $0.9 million of GSG depreciation expense for the second quarters of fiscal 2026 and 2025, respectively, and $4.7 million and $4.3 million of CIG depreciation expense for the second quarters of fiscal 2026 and 2025, respectively. Additionally, our GSG other segment items include the equity in the net income of investees accounted for by the equity method of $(0.1) million and $0.3 million for the second quarters of fiscal 2026 and 2025, respectively. Our CIG other segment items also reflect the equity in the net income of investees accounted for by the equity method of $0.6 million and $0.9 million for the second quarters of fiscal 2026 and 2025, respectively.(2) Other corporate expenses include the amortization expense of intangible assets of $8.8 million and $8.6 million for the second quarters of fiscal 2026 and 2025, respectively. These amounts also include $5.8 million and $5.0 million of stock-based compensation expense for the second quarters of fiscal 2026 and 2025, respectively. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended | | Six Months Ended | | March 29, 2026 | | March 30, 2025 | | GSG | | CIG | | Total | | GSG | | CIG | | Total | | | | | | | | | | Revenue from external customers | $ | 1,064,842 | | | $ | 1,365,978 | | | $ | 2,430,820 | | | $ | 1,477,626 | | | $ | 1,265,048 | | | $ | 2,742,674 | | | Inter-segment revenue | 20,017 | | | 14,322 | | | 34,339 | | | 12,599 | | | 17,540 | | | 30,139 | | | Segment revenue | 1,084,859 | | | 1,380,300 | | | 2,465,159 | | | 1,490,225 | | | 1,282,588 | | | 2,772,813 | | | | | | | | | | | | | | | Elimination of inter-segment revenue | | | | | (34,339) | | | | | | | (30,139) | | | Total consolidated revenue | | | | | 2,430,820 | | | | | | | 2,742,674 | | | | | | | | | | | | | | | | | | | | | | | | | | | Subcontractor costs - external | (179,971) | | | (164,040) | | | (344,011) | | | (261,006) | | | (180,633) | | | (441,639) | | | Subcontractor costs - inter-segment | (14,322) | | | (20,017) | | | (34,339) | | | (17,540) | | | (12,599) | | | (30,139) | | | Segment subcontractor costs | (194,293) | | | (184,057) | | | (378,350) | | | (278,546) | | | (193,232) | | | (471,778) | | | | | | | | | | | | | | | Elimination of inter-segment subcontractor costs | | | | | 34,339 | | | | | | | 30,139 | | | Total consolidated subcontractor costs | | | | | (344,011) | | | | | | | (441,639) | | | | | | | | | | | | | | | | | | | | | | | | | | Other segment items (1) | (744,296) | | | (1,045,272) | | | (1,789,568) | | | (1,039,983) | | | (951,219) | | | (1,991,202) | | | Segment operating income | 146,270 | | | 150,971 | | | 297,241 | | | 171,696 | | | 138,137 | | | 309,833 | | | | | | | | | | | | | | | Reconciliation of profit (segment operating income): | | | | | | | | | | | | | Other non-operating income | | | | | 12,361 | | | | | | | — | | | Legal contingency costs | | | | | — | | | | | | | (115,000) | | | Impairment of goodwill | | | | | — | | | | | | | (92,416) | | | Contingent consideration - fair value adjustments | | | | | 7,506 | | | | | | | 2,297 | | | Interest expense, net | | | | | (15,966) | | | | | | | (15,709) | | Other corporate expenses (2) | | | | | (32,230) | | | | | | | (42,585) | | | Income before income tax expense | | | | | $ | 268,912 | | | | | | | $ | 46,420 | | | | | | | | | | | | | | | | | | | | | | | | | | (1) For the first six months of fiscal 2026 and 2025 these amounts include $1.6 million and $1.8 million of GSG depreciation expense, respectively, and $9.4 million and $8.7 million of CIG depreciation expense for the first six months of fiscal 2026 and 2025, respectively. Additionally, our GSG other segment items include the equity in the net income of investees accounted for by the equity method of $0.1 million and $0.7 million for the first halves of fiscal 2026 and 2025, respectively. Our CIG other segment items also reflect the equity in the net income of investees accounted for by the equity method of $1.0 million and $1.3 million for the first halves of fiscal 2026 and 2025, respectively.(2) For the first halves of fiscal 2026 and 2025 other corporate expenses include the amortization expense of intangible assets of $17.2 million and $19.3 million, respectively. These amounts also include $10.8 million and $9.8 million of stock-based compensation expense for the first halves of fiscal 2026 and 2025, respectively.
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