v3.26.1
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregated Revenues
Revenues by geographic area and customer type were as follows:
Three Months Ended June 30, 2026Three Months Ended June 30, 2025
Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal
(In thousands)
United States:
Government$560,184 $— $560,184 $513,749 $— $513,749 
Non-Government27,886 48,264 76,150 69,873 24,852 94,725 
$588,070 $48,264 $636,334 $583,622 $24,852 $608,474 
Canada:
Government$4,835 $— $4,835 $10 $— $10 
Non-Government237 224,295 224,532 65 141,161 141,226 
$5,072 $224,295 $229,367 $75 $141,161 $141,236 
Other:
Government$2,653 $— $2,653 $3,725 $— $3,725 
Non-Government5,496 29,953 35,449 1,537 10,126 11,663 
$8,149 $29,953 $38,102 $5,262 $10,126 $15,388 
Segment Revenues$601,291 $302,512 903,803 $588,959 $176,139 765,098 
Eliminations(2,178)(1,059)
Revenues$901,625 $764,039 
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal
(In thousands)
United States:
Government$1,094,124 $— $1,094,124 $1,039,044 $— $1,039,044 
Non-Government53,150 87,913 141,063 94,146 40,914 135,060 
$1,147,274 $87,913 $1,235,187 $1,133,190 $40,914 $1,174,104 
Canada:
Government$17,978 $— $17,978 $112 $— $112 
Non-Government237 443,771 444,008 122 242,778 242,900 
$18,215 $443,771 $461,986 $234 $242,778 $243,012 
Other:
Government$6,049 $— $6,049 $7,596 $— $7,596 
Non-Government7,653 54,474 62,127 3,226 20,757 23,983 
$13,702 $54,474 $68,176 $10,822 $20,757 $31,579 
Segment Revenues$1,179,191 $586,158 1,765,349 $1,144,246 $304,449 1,448,695 
Eliminations(3,507)(2,398)
Revenues$1,761,842 $1,446,297 

Revenues by timing of transfer of goods or services were as follows:
Three Months Ended June 30, 2026Three Months Ended June 30, 2025
Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal
(In thousands)
Over time$592,459 $267,898 $860,357 $586,443 $153,085 $739,528 
Point-in-time8,832 34,614 43,446 2,516 23,054 25,570 
Segment Revenues$601,291 $302,512 903,803 $588,959 $176,139 765,098 
Eliminations(2,178)(1,059)
Revenues$901,625 $764,039 
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal
(In thousands)
Over time$1,165,630 $519,392 $1,685,022 $1,136,989 $256,306 $1,393,295 
Point-in-time13,561 66,766 80,327 7,257 48,143 55,400 
Segment Revenues$1,179,191 $586,158 1,765,349 $1,144,246 $304,449 1,448,695 
Eliminations(3,507)(2,398)
Revenues$1,761,842 $1,446,297 
Revenues by contract type were as follows:
Three Months Ended June 30, 2026Three Months Ended June 30, 2025
Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal
(In thousands)
Fixed-Price Incentive Fee$103,881 $767 $104,648 $220,653 $3,517 $224,170 
Firm-Fixed-Price395,790 202,292 598,082 259,153 118,365 377,518 
Cost-Plus Fee101,298 881 102,179 109,107 — 109,107 
Time-and-Materials322 98,572 98,894 46 54,257 54,303 
Segment Revenues$601,291 $302,512 903,803 $588,959 $176,139 765,098 
Eliminations(2,178)(1,059)
Revenues$901,625 $764,039 
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Government OperationsCommercial OperationsTotalGovernment OperationsCommercial OperationsTotal
(In thousands)
Fixed-Price Incentive Fee$366,765 $768 $367,533 $429,205 $7,844 $437,049 
Firm-Fixed-Price612,466 364,796 977,262 515,015 210,305 725,320 
Cost-Plus Fee199,432 10,746 210,178 199,896 — 199,896 
Time-and-Materials528 209,848 210,376 130 86,300 86,430 
Segment Revenues$1,179,191 $586,158 1,765,349 $1,144,246 $304,449 1,448,695 
Eliminations(3,507)(2,398)
Revenues$1,761,842 $1,446,297 
Revenue, Performance Obligation, Impact of Changes in Estimates The aggregate impact of changes in estimates increased our revenues and operating income as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(In thousands)(In thousands)
Revenues (1)
$8,811 $17,520 $3,509 $5,930 
Operating Income (1)
$7,037 $17,605 $1,310 $6,046 
(1)During the three and six months ended June 30, 2026, no adjustments to any one contract had a material impact on our consolidated financial statements. During the three and six months ended June 30, 2025, our Government Operations segment results were favorably impacted by material contract adjustments related to a nuclear operations contract resulting in an increase in revenue and operating income of $29.4 million.
Schedule of Contract Assets and Liabilities
June 30,December 31,
20262025
(In thousands)
Included in Contracts in progress:
Unbilled receivables$622,287 $594,749 
Retainages$62,303 $46,311 
Advance billings on contracts$313,256 $305,285