v3.26.1
Revenue
 12 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
For each of the fiscal years 2026, 2025, and 2024, approximately 98% of the Company’s revenue was generated from contracts with an agency or department of the U.S. government, including contracts where the Company performed either as a prime contractor or subcontractor, and regardless of the geographic location in which the work was performed.
Disaggregation of Revenue
We disaggregate our revenue from contracts with customers by contract type and by customer type, as well as by whether the Company acts as prime contractor or subcontractor, as we believe these categories best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. The following series of tables presents our revenue disaggregated by these categories.
Revenue by Contract Type: 
Fiscal Year Ended March 31,
 202620252024
Cost-reimbursable$6,587 59%$6,865 57%$5,874 55%
Time-and-materials2,492 22%2,707 23%2,530 24%
Fixed-price2,138 19%2,408 20%2,258 21%
Total Revenue$11,217 100%$11,980 100%$10,662 100%
Revenue by Customer Type (1):
Fiscal Year Ended March 31,
202620252024
Defense Customers$6,069 54%$5,943 49%$5,061 47%
Intelligence Customers1,900 17%1,867 16%1,763 17%
National Security Customers$7,969 71%$7,810 65%$6,824 64%
Civil and Commercial Customers3,248 29%4,170 35%3,838 36%
Total Revenue$11,217 100%$11,980 100%$10,662 100%
(1) Customer type is based on public market as determined by government agency mapping.
Revenue by Whether the Company Acts as Prime Contractor or a Subcontractor:
Fiscal Year Ended March 31,
202620252024
Prime Contractor$10,513 94%$11,397 95%$10,143 95%
Subcontractor704 6%583 5%519 5%
Total Revenue$11,217 100%$11,980 100%$10,662 100%
Performance Obligations
As of March 31, 2026 and 2025, the Company had $10.7 billion and $9.5 billion of remaining performance obligations, respectively. We expect to recognize approximately 65% of the remaining performance obligations as of March 31, 2026 as revenue over the next 12 months, and approximately 75% over the next 24 months. The remainder is expected to be recognized thereafter.
Contract Balances
The following table summarizes the contract assets and liabilities, and accounts receivable, net of allowance recognized on the Company’s consolidated balance sheets:
March 31,
20262025
Current assets:
Accounts receivable–billed$555 $781 
Accounts receivable–unbilled (contract assets)1,509 1,491 
Allowance for credit losses(1)(1)
Accounts receivable, net2,063 2,271 
Other long-term assets:
Accounts receivable–unbilled (contract assets)58 58 
Total accounts receivable, net$2,121 $2,329 
Other current liabilities
Advance payments, billings in excess of costs incurred and deferred revenue (contract liabilities)$28 $18 
To determine revenue recognized from contract liabilities during the reporting periods, the Company allocates revenue recognized during the period to the beginning balances of individual contract liabilities first, until the revenue exceeds the liability balances. For fiscal 2026, 2025 and 2024, we recognized revenue of $14 million, $12 million and $17 million, respectively, related to our contract liabilities on April 1, 2025, 2024 and 2023, respectively.